Activate the Subscription by Confirmation sent to your E-mail!!


Banking and Economy Current Affairs Quiz - April 2019

Home > Current Affairs > Banking and Economy Current Affairs Quiz - April 2019

  1. Quiz Can Be Started by Using the Start Quiz Button in Bottom of Quiz.
  2. If you're in a Hurry and want to know answers without attempting Quiz, Use the Done..Show My Score button Directly and answers will be shown.
  3. For every Correct answer, 1 Mark will be awarded.
  4. For every wrong answer, .25 Marks will be deducted.
  5. All The Best!!




1. Merger of Bank of Baroda with Vijaya Bank and Dena Bank came into force from 1st April 2019, named as ‘Amalgamation of Vijaya Bank and Dena Bank with Bank of Baroda Scheme 2019.

  1. Shareholders of Vijaya Bank will get 402 equity shares (Rs 2 each) of Bank of Baroda for every 1,000 shares held.
  2. Shareholders of Dena Bank will receive 110 equity shares (Rs 2 each) of Bank of Baroda for every 1,000 equity shares held.
  3. Post Merger, Bank of Baroda will have business of around Rs 15.4 trillion and advances and deposits market share of 6.9% and 7.4%, respectively. BOB will have 2.9 % of Current and Savings Accounts.
  4. BOB has become 3rd largest Bank in India, and 2nd largest PSB after SBI. _________________ is at 2nd place in terms of Business size. BOB now has over 9500 Branches. 
HDFC Bank
ICICI Bank
Kotak Mahindra Bank
Axis Bank
None of These


2. Reliance Nippon Life Asset Management (RNAM) partnered with _________________ to enable customers of Reliance Mutual Fund to carry out voice-based financial transactions. RNAM is first Indian company to provide conversational interface that would help customers regarding funds transactions.

Facebook
Microsoft
Google 
TCS
None of These


3. Department of Revenue imposed anti-dumping duty up to USD _____________________________ per tonne on import of certain solar cell components (Ethylene Vinyl Acetate Sheet for Solar Module) from China, Malaysia, Saudia Arabia and Thailand for 5 years, to safeguard domestic players against cheap shipments.

4559
3559
2559
1559 
None of These


4. Government extended deadline for linking PAN with biometric ID Aadhaar by 6 months till _________________ 30, as 6th extension for the same.

December
July
November
October
September 


5. _______________ became First Bank to charge customers for UPI transactions starting May 2019. First 30 UPI fund transfers in a month will be free, after which charge 2.50 per transaction for an amount under 1,000 and 5 per transaction for amount above 1000.

ICICI Bank
HDFC Bank
Kotak Mahindra Bank
Axis Bank
None of These


6. GST collections scaled to a record high of Rs ________________ Lakh Crores in March 2019, attributed to increased compliance and increase in number of returns filed.

1.06
1.09
1.12
1.15
None of These


7. RBI changed disclosure norms for banks on material divergences on provisioning, stating that banks will now have to disclose their provisions if divergence found is more than ___________ of bank’s profit before provisioning and contingencies. Earlier, banks were required to disclose additional provisioning requirements if divergences were found to be exceeding 15 % of published net profits after tax.

5 %
10 %
7 %
2 %
None of These


8. One97 Communications' wealth management arm __________________ received Securities and Exchange Board of India (SEBI) approval to start stock broking services such as ability to trade in equities and cash segments, derivatives, and exchange-traded funds (ETFs) among other exchange-traded products.

Paytm Money
Flipkart
Snapdeal
Mobikwik
None of These


9. Supreme Court struck down RBI's February 12, 2018 order on non-performing assets, as a result of which all cases referred to or admitted under the Insolvency and Bankruptcy Code (IBC) due to RBI order would now be cancelled.

  1. RBI circular referred all large distressed accounts with debt in excess of Rs __________________________ crore to IBC if they remained unresolved within 6 months of the first day of default. 
  2. This caused an uproar among power producers who challenged the circular by claiming that they were a special industry and their woes stemmed from poor coal linkage, unprofitable long-term power purchase agreements and long-standing dues from state distribution companies – for all of which they rightly held sovereign responsible.
  3. Several other entities from several industries also stood against the RBI Circular.
  4. RBI circular sourced its power from Section 35AA of Banking Regulation (Amendment) Act of 2017. It states that central government may authorise RBI to issue directions to any banking company or banking companies to initiate insolvency resolution process in respect of a default, under provisions of Insolvency and Bankruptcy Code 2016.
2000
1000
3000
5000
None of These


10. RBI has set limits for Ways and Means Advances (WMA) for the first half of FY 2019-20 (April 2019 to September 2019) at Rs ______________________ crores.

  1. WMA is temporary loan facility provided by RBI to centre and state governments, introduced in 1997.
  2. WMA needs to be vacated after 90 days. Interest rate for WMA is currently charged at repo rate (6 % as on 09-04-2019).
  3. RBI provides an overdraft facility when the WMA limit is breached. The overdraft is not allowed beyond 10 consecutive working days. b Interest rate on overdrafts would be 2 % more than repo rate.
  4. There are two types of WMA – Special and Normal WMA.
    1. Special WMA is provided against collateral of government securities held by State Government.
    2. After exhaustion of special WMA limit, State Government are provided with a normal WMA which is based on a 3 year average of actual revenue and capital expenditure of state.
25000
175000
55000
75000
None of These


11. RBI's 1st Bi-Monthly Monetary Policy Review for 2019-20 -

  1. 6 member monetary policy committee IS chaired by RBI Governor Shaktikanta Das.
  2. RBI reduced 0.25 basis points in Policy Rates under liquidity adjustment facility (LAF) . Updated Rates -
    1. Repo Rate - 6 %
    2. Reverse Repo - 5.75 %
    3. Bank Rate - 6.25 %
    4. CRR (Cash Reserve Ratio) - 4 %
    5. SLR(Statutory Liquidity ratio) - 19.25 % (RBI decided to reduce SLR from to 18.0% in six quarterly instalments beginning January 2019)
    6. Marginal Standing Facility (MSF) Rate - _______________________ %
  3. RBI also projected GDP growth forecast for current fiscal at 7.2%, down from earlier estimate of 7.4 %.
6.75
7.25
5.25
6.25
None of These


12. Fitch Ratings kept India’s sovereign rating at lowest investment grade of BBB-with a stable outlook, unchanged for 13th straight year. Growth rate of India forecasted by Fitch is 6.8% in FY 2019-20 and 7.1% in FY 2020-21. Fitch had last upgraded India's sovereign rating from BB+ to BBB- with a stable outlook on August 1, __________________ .

2008
2006
2012
2004
None of These


13. ____________________ approved merger with NBFC Indiabulls Housing Finance (IBH) through a share swap deal, in which 100 shares of Ban will fetch 14 of Indiabulls Housing finance.

  1. Merger will help Indiabulls Housing finance get entry into banking, after an unsuccessful application made by it in 2013 for a banking licence.
  2. Indiabulls HC NPA are approx .7 % and LVB is weak at 13 % NPAs. Merged entity will have 3% NPA.
  3. Insurance Regulatory and Development Authority (IRDAI) also recently granted Indiabulls Group the R1 licence for general insurance business..
Saraswat Bank
Tamilnad Mercantile Bank
Catholic Syrian Bank
Karur Vyasa Bank
Lakshmi Vilas Bank


14. ______________ signed Bancassurance MoU with Bharti AXA Life Insurance Company to distribute Insurer’s life insurance products.

Karnataka Bank
Karur Vyasa Bank
HDFC Bank
ICICI Bank
None of These


15. Markets regulator SEBI (Securities and Exchange Board of India) has approved an ‘Airport’ specific fund, named Taking Off To The Future Airport Fund, which can raise a capital of up to Rs ___________________ billion. It has been approved by SEBI as a ‘Category II Alternative Investment Fund’ (AIF).

  1. Sponsor and Investment Manager of the fund is based in Chennai and is termed as ‘Taking Off To The Future Investment Management LLP’.
  2. Minimum capital contribution of Rs. 3500 crore and a maximum of Rs. 7000 crore is targeted by the fund.
$1.0
$3.5
$2.5
$1.5
None of These


16. Government sold "enemy" shares worth Rs 1,150 crore in IT major ________________.

  1. Enemy shares are called so as they were originally held by people who migrated to Pakistan or China and are not Indian citizens any longer.
  2. Total 44.4 million shares, which were held by Custodian of Enemy Property for India, were sold at Rs 259 a piece.
  3. Buyers were Life Insurance Corporation of India (LIC), New India Assurance and General Insurance Corporation. LIC alone picked up shares worth Rs 1,000 crores.
HCL
Infosys
Wipro
TCS
None of These


17. National Payments Corporation of India (NPCI) has resuced usage fees for small transactions on Unified Payments Interface (UPI) network, to expand system’s adoption among banks and payment service providers (PSPs).

  1. For UPI transactions up to 1,000, charges arecut to ____________________ paise from 25 paise. Charges for transactions above 1,000 are retained at 50 paise.
  2. Incentive payments that were charged by NPCI at same rate as normal transactions have been brought under a fixed price regime of 10 paise to encourage such promotions by banks and PSPs. Incentive payments are charges banks or PSPs pay NPCI when they credit user’s bank account with cashbacks.
  3. Charges on merchant transactions through UPI have been cut as well. In place of a tiered transaction charge of 25 paise for transactions up to 1,000 and 50 paise beyond that, NPCI has introduced a flat charge of 10 paise along with an ad-valorem levy of 0.04% split between acquiring and issuing bank.
20
10
5
1
None of These


18. Power Producer National Thermal Power Corporation signed term-loan agreement with Canara Bank to raise Rs ________________ crores. Loan has a door to door tenure of 15 years.

1000
2000
5000
3000
None of These


19. Competition Commission of India (CCI) approved engineering and construction major Larsen & Toubro (L&T) proposal to acquire up to ____________________ stake in IT Services Firm Mindtree.

50.15%
86.15%
46.15%
66.15%
None of These


20. According to RBI Data, bank credit rose __________________________ to Rs 97.67 lakh crores in FY 2018-19. It is 2nd consecutive credit growth after 2018-19. The credit growth was 4.54 % in FY17 at Rs 78.41 lakh crores, lowest in 5 decades.

13.24%
23.24%
11.24%
17.24%
None of These


21. According to report by Bank of America Merrill Lynch (BofAML), excess reserves held by RBI are be up to Rs.3 lakh crore ($43 billion), including excess capital in contingency reserves and revaluation reserves.

  1. ________________________ committee on appropriate capital reserves for RBI was likely to identify this excess buffer. The committee was set up in December-end.
Bimal Jalan
H R Khan
Viral Acharya
Mahesh Kumar Jain
None of These


22. _____________________ Payments Bank partnered with Bharti AXA General Insurance for a two-wheeler insurance product.

Fino
Airtel
Vodaofone
Paytm
None of These


23. Asian Development Bank committed to provide USD ______________________ in sovereign loans to India in 2018, highest level of assistance since operations began in India in 1986, as per ADB annual report.

15 billion
2 billion
13 billion
3 billion
None of These


24. _______________________ partnered with M1Xchange Trade Receivables Discounting System (TReDS) platform for MSME bill discounting. 

  1. TReDS is a digital platform to support MSMEs to get their bills financed at a competitive rate through an auction where multiple registered financiers can participate. It aims to facilitate smooth flow of liquidity in system and make finance available at a competitive rate.
Dena Bank
SBI
BOB
PNB
Bank of Maharashtra (BoM) 


25. Bombay Stock Exchange signed MoU with ___________________, to strengthen BSE Startups platform and spread more awareness on benefits of listing of startups on BSE startup platform.

Bombay Stock Exchnage (BSE) also signed MoU with Network Intelligence, to provide cybersecurity services to its members in line with cybersecurity framework set by SEBI. Network Intelligence will be using its own developed platform BlueScope to offer 24x7 cybersecurity operations to the members.

ICICI Bank
Axis Bank
HDFC Bank
SBI
None of These


26. CCI (Competition Commission of India) Approved _____________________'s acquisition of Gruh Finance, to enhance and strenthen its portfolio.

  1. Gruh Finance is low-cost arm of HDFC Group. After the merger, HDFC Sought to take 14.96 % stake in Bandhan Bank. The same has been limited by RBI to 9.9%. 9.9 % is maximum a non-banking finance company can own in a private bank.
Bandhan Bank
ICICI Bank
Axis Bank
SBI
None of These


27. ______________ Ltd will transfer its rating business to its proposed new wholly-owned subsidiary, to comply with SEBI norms issued in 2018. SEBI had modified its regulations for credit rating agencies and mandated segregation of rating and non-ratings businesses of credit-rating agencies.

ICRA
CRISIL
SBI
PNB
None of These


28. Canara Bank and its life insurance partner Canara HSBC Oriental Bank of Commerce Life Insurance launched ’_________________’ to enable its customers to purchase life insurance in a convenient and hassle-free way. Canara HSBC Oriental Bank of Commerce Life Insurance company is jointly owned by Canara Bank (51%) and Oriental Bank of Commerce (23%) and HSBC Insurance Holdings (26%)

Web Insurance
Web Coverage
Web Assurance
Web Perseverance
None of These


29. ___________________ successfully rolled out major new functionality to support EMV card acquiring across its ATM network and Aadhaar Authentication. It has been announced by ACI Worldwide, global provider of real-time electronic payment and banking solutions.

  1. EMV shift is aimed at reducing lost and stolen card fraud and making counterfeit card fraud more difficult. RBI had set a deadline of December 31, 2018 for switch, mandating use of an embedded chip to replace the traditional magnetic stripe card.
PNB
SBI
ICICI Bank
Axis Bank
Canara Bank


30. Cash-strapped Airline ______________ suspended all its domestic and international flights indefinitely, amid cash crunch, putting 20000 jobs at Stake. Founder Chairman Naresh Goyal had earlier resigned from Board.

Spicejet
Air India
Jet Airways
Indigo
None of These


31. ___________________ (DIPAM) issued guidelines for monetisation of non-core assets of Central Public Sector Enterprises (CPSEs) and immovable enemy properties.

  1. An inter-ministerial group chaired by DIPAM secretary will identify non-core assets of CPSEs, and final call will be taken by Finance minister-headed panel.
  2. After panel approves assets for monetisation, it should be completed within 12 months from date of approval, failing which finance ministry may restrict budgetary allocations to CPSEs.
Department of International and Public Asset Management
Deployment of Investment and Public Asset Management
Disinvestment of Internal Public Assets Management
Department of Investment and Public Asset Management
None of These


32. Digital payments security and payment facilitator PayU acquired Wibmo, a US-based financial technology firm for USD _________________ million (about Rs 484 crores). Wibmo will continue to operate and serve all of its clients as a wholly-owned subsidiary of PayU.

80
70
50
60
None of These


33. Dream11 become First Indian Gaming Startup to become a Unicorn (worth ______________________). It achieved this after getting investment of $60 million from Steadview Capital of London and Hong Kong.

1 billion USD
10 billion USD
2 billion USD
5 billion USD
None of These


34. Export Import Bank of India (Exim Bank) provided soft loans of USD 266.60 million to ____________________ for various projects.

  1. USD 100 million for financing development of two SEZs (Special Economic Zones) and expansion of the Kigali SEZ.
  2. USD 100 million for financing three agriculture project schemes --Warufu Multipurpose Project,Mugesera Irrigation Project andNyamukana Irrigation Project.
  3. USD 66.60 million will be funded for Base-Butaro-Kidaho Road Project.
Uganda
Sudan
Egypt
Seychelles
Rwanda


35. Finance ministry ratified hike of the Employees Provident Fund (EPF) interest rate to ___________________ as approved by retirement fund manager EPFO (From 8.55 % Earlier).

8.55%
8.65%
8.95%
8.45%
None of These


36. Financial Services Firm _____________________collaborated with digital insurer Aegon Life Insurance to launch a Rs 20 smart digital insurance product in order to protect its wallet users from death and accident related disability cover for up to Rs. 1 lakh, Rs.1.5 lakh and Rs. 2 lakh with premium of Rs 20, Rs 30 and Rs 40 respectively.

Mobikwik
Paytm
Oyo
Ola
None of These


37. GDP Growth Forecasts (April 2019) -

  1. Asian Development Bank downgraded economic growth forecasts for India and Southeast Asia for 2019 as global risks from trade tensions to Brexit mount. GDP in India will increase 7.2 percent, down from December forecast of 7.6 percent. Southeast Asia’s growth estimate was lowered to 4.9 %.
  2. India’s GDP growth projection for 2019-20 lowered to 7.3 % by India Ratings and Research, a Fitch Group company. Earlier projected GDP growth was 7.5 %.
  3. As per World Bank, India’s GDP growth will accelerate to _____________________________ in FY 19-20. Real GDP growth is estimated at 7.2% in FY18/19.
8.5%
7.0%
7.2%
7.8%
7.5%


38. Germany-based Financial Firm Wirecard partnered with _________________________ to promote financial inclusion in India. With this, Wirecard’s customer service representatives will be able to access basic payment and banking services which include cash withdrawals and deposits as well as balance inquiries.

RBL Bank
ICICI Bank
Axis Bank
HDFC Bank
None of These


39. Government increased authorised capital of State-owned Allahabad Bank to 8,000 crores (From ______________ crores Initially). It will help enable bank to raise further fund up to a maximum ceiling of Rs 8,000 crores.

2000
3000
5000
10000
None of These


40. Government raised import duty on wheat from existing 30% to ______________________ to support local farmers interests, amid huge domestic wheat production. It will discourage milers to import wheat and buy local produce and help protect farm prices.

45%
70%
60%
50%
40%


41. Government retained interest rate for General Provident Fund (GPF), Contributory Provident Fund and other related schemes at _____________________ for the first quarter of current financial year. iT will be applicable on provident funds of central government employees, railways and defence forces.

7 %
8 %
9 %
10 %
None of These


42. HDFC Asset Management Comp. claimed top spot among asset management companies in India with an average AUM of Rs _________________ trillion, overtaking ICICI Prudential Asset Management Comp. (AUM of 3.20 trillion).

  1. India’s AMCs own assets under management (AUM) worth Rs24.46 trillion, according to Association of Mutual Funds in India (Amfi).
4.42
3.42
5.42
3.92
None of These


43. Health insurer Max Bupa collaborated with _____________________ Bank to launc ‘AnyTime Health (AND) machines, as automated model that permits customers to avail health assessment through several metrices and buy health policy dynamically.

HDFC
ICICI
Axis
Yes
None of These


44. IDBI Bank launched ‘NRI-Insta Online’ account opening process for NRIs residing in ______________________ (FATF) member countries to open an account without visiting branch or submitting paper documents.

  1. FATF is an inter-governmental body founded in 1989, which sets standards to promote successful implementation of legal, regulatory and operational measures to combat money laundering and terrorist financing.
Financial Active Task Force
Favorable Action Task Force
Fuel Action Task Force
Financial Action Trade Force
Financial Action Task Force


45. IEPF (____________________) Authority enforced Peerless General Finance and Investment Company Limited to transfer deposits worth about Rs 1514 Cr to IEPF, which were pending with the company for 15 years.   This amount was taken by the company by issuing about 1.49 Cr Deposit Certificates and include more than 1 Cr individual investors. Majority of investors belong to West Bengal.

  1. IEPF Authority will also soon commission online facility to collect primary information directly from retail investors about the deposits which have matured and are still pending with various entities for repayment or payment of interests.
Investor Education and Providence Fund
Investor Education and Protection Fund
Internal Education and Protection Fund
Investor Economical and Protection Fund
None of These


46. IT service management Firm _____________________ (FSS) launched real time voice banking platform called FSS voice commerce. It uses machine-learning language processing techniques and offers meaningful, contextual, and personalized banking interactions to customers.

Financial Software Services
Fuel Software Services
Financial Safety Services
Fuel Safety Services
None of These


47. Income tax department altered method for taxing ______________________ (MNCs) and digital firms with permanent establishment in India -

  1. CBDT Committee stated that MNCs that are suffering global losses or a global profit margin of less than 2% and have their operations in India will be considered to have made a profit of 2% of Indian revenue and will be taxed accordingly.
Mutual Nodal companies
Mutual Native companies
Multi Native companies
Multi Nodal companies
Multi National companies


48. Insurance Firm _____________________ Limited received ISO 31000:2018 certification by TUV India, for applying risk management system which conforms to prescribed standards.

Cholamandalam MS General Insurance Company
Bajaj Allianze Insurance
LIC
Tata AIG General Insurance
None of These


49. _____________________ launched first debit card-based authentication solution of NPCI e-Mandate (electronic mandate) API platform, being first ever Destination Bank to go live with both Net Banking and Debit Card-based e-mandate authentication.

  1. It will enable Kotak customers to create electronic mandates (similar to former eNACH with Aadhaar + OTP) (eNACH- Electronic National Automated Clearing House; OTP- One Time Password) via both debit card and net banking provision.
HDFC Bank
Kotak Mahindra Bank
ICICI Bank
Axis Bank
None of These


50. Life Insurance Corporation(LIC) has been given 12 years from RBI for cut down stake in IDBI Bank, which is currently at 51 %.

  1. IRDAI claimed that LIC can take up to 15 % stake in any bank, which can stretch up to 30 %. But in 2018, regulator authorised LIC to hold up to 51 % in IDBI Bank.
  2. After 12 years, LIC has to decrease stake in IDBI Bank to bring it down to ________________ %.
20
25
45
35
40


51. National Company Law Tribunal (NCLT) approved merger of _________________ with Bharat Financial Inclusion (BFIL), a microfinance company.

IndusInd Bank
HDFC Bank
Axis Bank
ICICI Bank
None of These


52. National Payments Corporation of India (NPCI) received RBI approval to implement e-mandates (electronic mandates) for internet banking and debit cards, which will allow users to automatically deal with their recurring payments. Limit for each mandate is set at Rs 1 Lakh, and depending on the usage, the organisation will review the limit from time to time.

  1. Both e-NACH (_________________________) and e-mandates are 2 different services. e-NACH services are controlled by NPCI and is available at over 40 banks, while e-mandates are provided by individual banks.
Native Automated Clearing House
National Automated Checking House
National Automated Clearing House
Nodal Automated Clearing House
None of These


53. PAISALO Digital Limited signed first co-origination loan agreement with ____________________, as first such agreement by the Bank. Loans between 10,000 to 2 lakh are available under this arrangement.

Axis Bank
BOB
PNB
SBI
None of These


54. ________________ acquired Bengaluru-based secondhand goods marketplace Zefo, for INR 200 Crores, to strengthen sales of its pre-owned goods business.

Ola
Flipkart
Paytm
OLX
Quikr


55. _______________________ Updates -

  1. Approved HDFC for acquiring 9.9 % stake in Bandhan Bank, following Gruh Finance deal.
    1. Gruh Finance is low-cost arm of HDFC Group. After merger, HDFC Sought to take 14.96 % state in Bandhan Bank. The same has been limited by __________ to 9.9%. 9.9 % is maximum a non-banking finance company can own in a private bank.
  2. Its arm Institute for Development and Research in Banking Technology (IDRBT) launched a 5G Use Cases Lab for banking and financial sector. 5G technology, along with blockchain, will be progressively adopted by banks.
    1. Department Of Telecommunications had already launched test beds for 5G use in the academia in Hyderabad, Chennai and Bangalore to develop 5G for Indian use.
  3. Changed disclosure norms for banks on material divergences on provisioning, stating that banks will now have to disclose their provisions if divergence found is more than 10 % of bank’s profit before provisioning and contingencies. Earlier, banks were required to disclose additional provisioning requirements if divergences were found to be exceeding 15 % of published net profits after tax.
  4. Tweaked Liquidity Coverage Ratio (LCR) norms to provide an additional 2% window to lenders, to further improve the cash position of banks.
  5. Extended coverage of Ombudsman Scheme for Non-Banking Financial Companies (NBFCs) 2018 to eligible Non Deposit Taking Non Banking Financial Companies (NBFC-NDs)., with asset size of over 100 crores.
    1. However, NBFC-Infrastructure Finance Company (NBFC-IFC), Core Investment Company (CIC), Infrastructure Debt Fund-Non-banking Financial Company (IDF-NBFC) and NBFCs under liquidation are excluded from the ambit of Scheme.
    2. Ombudsman Scheme for Non-Banking Financial Companies (NBFCs) 2018 was launched in February 2018 for redressal of complaints against NBFCs registered with RBI under Section 45-IA of RBI Act, 1934. Initially, it covered all deposit accepting NBFCs.
  6. Has set limits for Ways and Means Advances (WMA) for the first half of FY 2019-20 (April 2019 to September 2019) at Rs 75000 crores.
    1. WMA is temporary loan facility provided by RBI to centre and state governments, introduced in 1997.
    2. WMA needs to be vacated after 90 days. Interest rate for WMA is currently charged at repo rate (6 % as on 09-04-2019).
    3. RBI provides an overdraft facility when the WMA limit is breached. The overdraft is not allowed beyond 10 consecutive working days. b Interest rate on overdrafts would be 2 % more than repo rate.
    4. There are two types of WMA – Special and Normal WMA.
      1. Special WMA is provided against collateral of government securities held by State Government.
      2. After exhaustion of special WMA limit, State Government are provided with a normal WMA which is based on a 3 year average of actual revenue and capital expenditure of state.
  7. Issued Rs 50 denomination banknotes signed by current Governor Shaktikanta Das. The design of these notes is similar in all respects to Rs 50 banknotes in Mahatma Gandhi new series.
    1. It bears motif of ‘Hampi with Chariot’ on the reverse that depicts India’s cultural heritage.
    2. It has the Ashoka pillar emblem on the right side of the obverse and bears year of printing on the reverse side.
    3. Note is fluorescent blue in colour. It has Width 135 mm AND Height 66 mm.
  8. Issued guidelines for banks to set up new currency chests, including -
    1. Area of strong room of at least 1,500 sq ft. For those situated in hilly/ inaccessible places, strong room/ vault area of at least 600 sq ft.
    2. New chests should have a processing capacity of 6.6 lakh pieces of banknotes per day (2.1 lakh for hilly/ inaccessible places)
    3. Currency chests should have Chest Balance Limit (CBL) of Rs 1,000 crores.
    4. As per RBIm currency management infrastructure consists of network of 19 issue offices of RBI, 3,975 currency chest and 3,654 small coin depots of commercial, co-operative and regional rural banks across country.
  9. Notified that banking ombudsman saw 25% rise in customer complaints in FY18 over FY17.
  10. Sold its entire stakes in National Bank for Agriculture & Rural Development (NABARD) and National Housing Bank (NHB) for Rs 20 crore and Rs 1,450 crores respectively. It was decided on the basis of recommendations of second Narasimham Committee, which stated that RBI could not own those entities which are regulated by it. Government now holds 100 % stake in both NHB and NABARD.
  11. Will shortly issue Rs  20 denomination banknotes in Mahatma Gandhi (New) Series, with signature of RBI Governor Shaktikanta Das.
    1. New Rs  20 banknote has motif of Ellora Caves on reverse, depicting country's cultural heritage. The base colour is Greenish Yellow.
    2. Its dimensions will be 63 X 129 mm.
  12. _____________'s 1st Bi-Monthly Monetary Policy Review for 2019-20 -
    1. 6 member monetary policy committee IS chaired by RBI Governor Shaktikanta Das.
    2. RBI reduced 0.25 basis points in Policy Rates under liquidity adjustment facility (LAF) . Updated Rates -
      1. Repo Rate - 6 %
      2. Reverse Repo - 5.75 %
      3. Bank Rate - 6.25 %
      4. CRR (Cash Reserve Ratio) - 4 %
      5. SLR(Statutory Liquidity ratio) - 19.25 % (RBI decided to reduce SLR from to 18.0% in six quarterly instalments beginning January 2019)
      6. Marginal Standing Facility (MSF) Rate - 6.25 %
    3. RBI also projected GDP growth forecast for current fiscal at 7.2%, down from earlier estimate of 7.4 %.
SBI
SEBI
RBI
IRDAI
None of These


56. ______________ partnered with credit profiler CreditVidya to improve customer experience.

RBL Bank
ICICI Bank
Yes Bank
HDFC Bank
None of These


57. _______________________ became India’s first retail company to cross the Rs.1 lakh crore annual revenue, with revenue for 2018-19 being INR 1,30,556.

Aditya Birla Retail
Reliance Retail
Future Retail
TATA Retail
None of These


58. _________________ launched cyber defence insurance product, to protect businesses from financial and reputational losses due to cyber attacks, designed to protect against major insurable cyber exposures.

SBI General Insurance
TATA AIG General Insurance
Bajaj Allianz General Insurance
Iffco Tokyo General Insurance
None of These


59. SEBI (Securities and Exchange Board of India) reduced minimum subscription requirement as well as defined trading lots for Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs).

  1. SEBI increased leverage limit for InvITs from 49% to _____________________.
  2. While making an IPO and follow-on offer, minimum subscription shall not be less than Rs 1 lakh for InvITs and Rs 50,000 for REITs.
  3. Currently, in case of a REIT issue, minimum subscription from any investor in an initial offer and follow-on public offer is not less than Rs 2 lakh, while same is Rs 10 lakh for InvIT.
70 %
60 %
65 %
75 %
None of These


60. _____________________ launched India’s first ‘Green Car Loan’ (Electric Vehicle) to encourage customers to buy electric vehicles. It will offer the loan at 20 basis points lower than the interest rate on the existing car loan schemes. Its in line with government’s pledge of ensuring 30% EVs on road by 2030.

Axis Bank
PNB
ICICI Bank
SBI
None of These


61. Supreme Court struck down RBI's February 12, 2018 order on non-performing assets, as a result of which all cases referred to or admitted under the Insolvency and Bankruptcy Code (IBC) due to RBI order would now be cancelled.

  1. RBI circular referred all large distressed accounts with debt in excess of Rs __________________________ crore to IBC if they remained unresolved within 6 months of the first day of default.
  2. This caused an uproar among power producers who challenged the circular by claiming that they were a special industry and their woes stemmed from poor coal linkage, unprofitable long-term power purchase agreements and long-standing dues from state distribution companies – for all of which they rightly held sovereign responsible.
  3. Several other entities from several industries also stood against the RBI Circular.
  4. RBI circular sourced its power from Section 35AA of Banking Regulation (Amendment) Act of 2017. It states that central government may authorise RBI to issue directions to any banking company or banking companies to initiate insolvency resolution process in respect of a default, under provisions of Insolvency and Bankruptcy Code 2016.
8000
6000
4000
2000
None of These


62. ________________ Bank and PSU BEML Limited (Bharat Earth Movers Limited) signed an agreement for financing Earth Moving and Construction EquipmentS, manufactured by BEML. Under this, customers will be provided loans in range 20 Lakh - 3 crores and preferential pricing by ___________ Bank.

ICICI
Syndicate
Axis
Dena
None of These


63. Telecom Department approved merger of TTSL (Tata Teleservices Limited) consumer mobility business with Bharti Airtel, subject to condition that Airtel provides bank guarantees of about Rs. _________________________ crores.

  1. Merger will be taken on record after Airtel submits bank guarantee of about Rs 6,000 crore for one-time spectrum charges and another Rs 1,200 crore for spectrum that would be acquired from TTSL.
  2. Airtel will absorb Tata consumer mobile business (CMB) operations in 19 telecom circles (17 under TTSL and 2 under Tata Teleservices (Maharashtra) Ltd ).
  3. Merger will bolster Airtel's spectrum pool with significant additional 178.5 MHz spectrum in 1800, 2100 and 850 MHz bands, all widely used for 4G.
10,200
9,200
8,200
6,200
7,200




Score =

Correct answers:



More Quizzes For Category -
More Quizzes For Month -


Month Type