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Banking and Economy Current Affairs Quiz - August 2018

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1. 21 public and 3 major private sector banks lenders collected INR 4989 crores from customers for non-maintenance of minimum balance in their accounts in 2017-18.

  1. ______________ collected maximum 2433 crores, over half the amount raised by 24 banks together.
  2. In private sector, HDFC bank collected max 590.84 crores.
Axis Bank
None of These

2. 29th meeting of GST council Held in New Delhi -

  1. A sub-committee was Created, headed by ________________ for suggesting measures to address issues faced by Micro, Small and Medium Enterprises (MSME) sector
  2. It has also decided to run a pilot to provide cashback for digital transactions. Capped at Rs 100, RuPay Debit and UPI-based transaction will get cashback of 20% for GST paid.
Viral Acharya
Suresh Chandra
Shiv Pratap Shukla
H R Khan
None of These

3. 4th Advance Estimates of production of major crops for 2017-18 released by the Department of Agriculture, Cooperation and Farmers Welfare -

  1. Foodgrains  –  ______________ million tonnes (record) (higher by 9.72 million tonnes than the previous record production of foodgrain of 275.11 million tonnes achieved during 2016-17). Consissts of Rice , Wheat, Nutri/Coarse Cereals, Pulses, Gram, Tur amd Urad.
  2. Oilseeds  –  31.31 million tonnes. It consits of Soyabean, Groundnut, Rapeseed & Mustard AND Castorseed.
  3. Cotton  –  34.89 million bales (of 170 kg each)
  4. Sugarcane – 376.91 million tonnes (record)
None of These

4. A Finance Minsitry report ranked ______________________ as the best PSU bank in the overall digital transactions category in India. As per Department of Financial Services' findings, bank's average percentage of technical declines is only 0.83 % of total transactions.

Axis Bank

5. According to Department of Industrial Policy and Promotion, Foreign Direct Investment in India rose 23% to _______________ billion dollars during April to June quarter of FY 2018-19.

None of These

6. According to N-SIPI (State Investment Potential Index) series report by NCAER (National Council of Applied Economic Research), ____________ topped the list, replacing Gujarat. It was done based on 6 parameters: land, labour, infrastructure, economic climate, governance and political stability and business perceptions. Assam, Jharkhand and Bihar are ranked among least favourable states for investment.

None of These

7. According to SBI report named Ecowrap, current account deficit of India will rise to __________________ of the GDP in current financial year, due to rise in oil prices and moderate growth in exports. This is expected to turn country’s overall balance of payment into deficit mode after six years, leading to forex reserves depletion of USD 16 billion (0.6 per cent of GDP) in FY19.

None of These

8. ______________ will acquire Sequoia-backed Tapzo, for approx $35-40 million.

Amazon Pay
None of These

9. As per National Bank for Agriculture & Rural Development’s (NABARD)'s First All India Rural Financial Inclusion Survey 2016-17 -

  1. Agricultural household account for 48% of rural households. Agriculture (farming) generates only 23% of rural income. Only 43% of average income of agricultural households comes from cultivation of crops and rearing of animals.
  2. Number of rural households in India at 21.17 crores, of which 10.07 crores are agricultural.
  3. Average net monthly income of Indian rural households in 2016-17 was INR ________________.
  4. Among agricultural households, share of average income from cultivation and livestock rearing was just over 43%.
None of These

10. As per RBI, Kerala, Maharashtra, Karnataka and Tamil Nadu together received nearly 60% of total remittances in 2016-17. ______________ emerged as top source of remittances with a share of 26.9%, followed by US (22.9%), Saudi Arabia (11.6%), Qatar (6.5%) and Kuwait (5.5%).

None of These

11. Asian Development Bank (ADB) approved financing package of $______________ million to implement project for providing safe, sustainable drinking water service to million people in three districts of West Bengal (North 24 Parganas, Bankura and Purba Medinipur) affected by arsenic, fluoride, and salinity.

None of These

12. __________________ Securities launched commodity broking services with MCX and became the first bank subsidiary to enter commodity broking business. Now, ___________ Direct customers can now trade in 29 commodity futures and contracts through a one-time online registration process.

Kotak Mahindra
None of These

13. _____________________ become first bank in India to introduce Iris Scan Authentication feature for Aadhaar -based transactions through its micro ATM tablets. This is being run as a pilot project in 8 branches of rural Punjab, Haryana, Gujarat and Andhra Pradesh.

UCO Bank
Kotak Mahindra Bank
Axis bank

14. __________________ surpassed YES Bank and became 6th most valuable private sector bank and seventh most valued listed lender in India. With a market capitalisation (m-cap) of Rs 840 billion, it surpassed YES Bank with m-cap of Rs 838 billion.

Bandhan Bank
Kotak Mahindra Bank
None of These

15. Bharat Sanchar Nigam Ltd (BSNL) launched BSNL ______________ VOIP based service, requiring no SIM or cable wiring. It offers unlimited free audio/video calling for one year. It can be activated with a one-time fee of Rs. 1099.

None of These

16. Bharti Axa Life Insurance and Airtel Payments Bank entered into an alliance to offer Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), a government-backed life insurance scheme. It offers Rs _______________________ lakh life insurance cover for a nominal premium of Rs 330 per annum and can be purchased by all existing or new Airtel Payments Bank savings bank account holders between ages 18-50.

None of These

17. Central Government, State Government of Rajasthan and World Bank signed $____________________ million Development Policy Loan (DPL) to support Rajasthan in improving the performance of its Electricity Distribution Sector under State’s 24x7 Power for All program

  1. Second Programmatic Electricity Distribution Reform Development Policy Loan for Rajasthan is second in series of 2 operations planned for a comprehensive turnaro und of Rajasthan’s electricity distribution sector. The First Loan was closed in March 2017.
None of These

18. Digital North East Vision 2022 was released in Guwahati (___________________) by Ravi Shankar Prasad (Minister for Electronics & Information Technology), along with First electronics manufacturing cluster in northeastern region in Guwahati.

  1. It identifies eight areas namely, Digital Infrastructure, Digital services, Promotion of Electronics Manufacturing, Digital empowerment, Promotion of IT and ITes including BPOs, Digital Payments, Innovation & Startups and Cyber security.
  2. Under Digital North East, government will invest nearly 10,000 crore over 4 years to implement over 400 projects.
None of These

19. Digital payments firm ________________________ acquired Bengaluru-based savings management firm Balance Technology, for approx 12 Crores INR, to enhance its user and merchant interfaces with customised and intuitive user experiences.

None of These

20. Digital payments platform PayPal tied up with ______________________ Bank to offer more efficient payment experiences for bank's cardholders.

None of These

21. DGFT (____________________________) banned import of petcoke for use as fuel, allowing its import of only for use as feedstock in some selecte industries like cement, lime kiln, calcium carbide and gasification.

Directorate General of Foreign Trade
Directorate General of Fuel Trade
Directorate Global Foreign Trade
Directorate General of Fashion Trade
None of These

22. E-Commerce Firm _____________________ acquired AI-led speech recognition, to introduce easier shopping experience through Voice recongition.

None of These

23. ___________________ signed cooperation agreement with member development banks of BRICS to undertake “collaborative research” in distributed ledger/blockchain technology.

Exim Bank of India
None of These

24. Financial firm ____________________ partnered with China's Alibaba to launch AI-based cloud computing platform AI Cloud'. It will offer business-centric apps to developers, startups and enterprises that need cloud-computing solutions including customer engagement and easy-to-integrate payments.


25. Google partnered with four Indian banks to grant Instant consumer loans online, after rebranding its UPI Payments app Tez as ________________________. Banks are HDFC Bank, ICICI Bank Ltd, Kotak Mahindra Bank and Federal Bank. The Instanty lending features will be available soon in the App.

Google Tez
Google Online
Google Pay
Google Buzz
None of These

26. Government approved expansion of capital base of Higher Education Financing Agency (HEFA) to 10000 crores, under RISE (______________________________________) by 2022. Financing of infrastructure of Centrally Funded Educational Institutions would henceforth be through HEFA loans. Financing windows -

  1. Technical Institutions more than 10 yr old would repay Principal Portion from internally generated budgetary resources. 100% of interest costs would be serviced by Government.
  2. Technical Institutions started between 2008 and 2014 would repay 25% of principal portion from internal resources. 75% of principal and 100% of interest costs would be serviced by Government.
  3. Central Universities started prior to 2014 will repay 10% of principal from internal resources. 90% of principal and 100% of interest costs would be serviced by Government.
  4. Newly established Institutions (started after 2014) would completely service principal and interest costs of loan through OH-31.
Revitalising Infrastructure & Systems in Higher Education
Revitalising Internal Systems in Higher Education
Recapitalising Infrastructure & Systems in Higher Education
Revitalising Institutional & Systems in Higher Education
None of These

27. Government to Government Umbrella Agreement on Financial Cooperation and Technical Cooperation 2017 under Indo-__________________ Bilateral Development Cooperation signed in New Delhi.

  1. Financial Cooperation of 610 million Reduced Interest Loan (RIL) and Euro 5.5 million Financial grant
  2. Technical Cooperation of Euro 38.20 million.
None of These

28. Government unlocked green funds worth over Rs _____________ crores to increase the country’s forest cover, as an accumulated amount, deposited by user agencies as compensation for diverting forest land for non-forest purposes, since past 10 years. 

  1. 80 % of this green fund will be utilised by the states for green activities listed under 13 permissible activities. 
  2. Remaining 20 % will be used for 11 listed works to strengthen forest and wildlife protection related infrastructure.
  3. According to India State of Forest Report (SFR) 2017, India posted a marginal 0.21 % rise in area under forest between 2015 and 2017. India has about 7, 08,273 sq kms of forest, which is 21.53 % of its geographical area, aimed to increase it to at least 33 %.
None of These

29. Government, NABARD and National Water Development Agency (NWDA) signed revised Agreement funding of central share of 99 prioritized irrigation projects under Pradhan Mantri Krishi Sinchayee Yojana (PMKSY) through LTIF (_______________________).

Low Term Irrigation Fund
Long Total Irrigation Fund
Low Total Irrigation Fund
Long Term Internal Fund
Long Term Irrigation Fund

30. _________________ will adopt 30 villages in flood-hit Kerala as part of its long-term relief and rehabilitation efforts. Also, scientists from U.S.-based Geotechnical Extreme Events Reconnaissance (GEER) Association will investigate impact of the torrential rains that hit Kerala recently.

Yes Bank
Kotak Mahindra Bank
None of These

31. _________________ Govt. launched an online portal for releasing grant-in-aid to government departments. It will make budgetary process more transparent and enhance working efficiency of finance department officials.

None of These

32. Hindustan Aeronautics Limited (HAL) become first public sector enterprise to make a transaction on the “TReDS platform”, an online electronic institutional mechanism for facilitating financing of trade receivables of micro, small and medium enterprises (MSME) through multiple financiers. TReDS refers to ___________________.

Trade Receivables Discontinued System
Trade Receivables Discounting System
Total Receivables Discounting System
Trade Recovery Discounting System
None of These

33. Home Ministry has issued new Standard Operating Procedures (SoPs) for cash refilling of automated teller machines (ATMs)., after rising incidents of attacks on cash vans, cash vaults, ATM frauds and other internal frauds.

  1. Most Notable event was a recent huge cyber attack on _______________ based Cosmos co-operative bank, in which hackers robbed approx 94 Crores from bank. It was first such attack on any Indian Bank.
  2. New Terms will be effective from 8 February 2019. There are over 8,000 cash vans in India, handling over 15000 crores daily.
  3. New Features -
    1. Sets deadline of replenishing cash in ATMs before 9pm in cities and 6pm in rural areas, 4 PM for Naxal-hit districts.
    2. Every cash van must have one driver, two armed security guards, two ATM officers or custodians.
    3. The cash van should not carry cash of more than Rs. 5 crore per trip.
None of These

34. _________________ launched a new digital platform 'MyDeal' to simplify capital raising process through capital markets by providing real-time access to information such as investors' feedback, profiles, client orders and deal pricing.

Yes Bank
Axis Bank

35. IFFCO signed joint venture with Spainish Firm Congelados De Navarra (pioneer in quick frozen (IQF) technology) to set up food processing plant at Ludhiana in ___________________ with an investment of Rs 325 crores, to foray into food processing sector. In JV, IFFCO will have 30% stake.

None of These

36. Idea Cellular completed its merger with Vodafone India, after final approval from National Company Law Tribunal (NCLT). Merged entity has more than 41 Crore subscribers, a broadband network of 340,000 sites and market share of 32.2%. It has leadership position in 9 out of 22 circles. _________________ took over as Vodafone Idea first CEO.

Balesh Sharma
I.V. Subba Rao
Sanjay Kothari
Bhaskar Khulbe 
None of These

37. New Loan agreements signed by India in August 2018 -

  • $220 million Loan Agreement and a $80 million Guarantee Agreement with World Bank - For India Energy Efficiency Scale-Up Programto be implemented by the Energy Efficiency Services Limited (EESL). It will help scale-up deployment of energy saving measures in residential and public sectors, strengthen EESL’s institutional capacity, and enhance its access to commercial financing.
  • ______________________ million loan agreement with Asian Development Bank (ADB) - finance improvement of over 400 kilometers of state highways that will enhance connectivity and access to economic centers across 12 districts in Kamataka.
  • $375 million loan agreement with Asian Development Bank (ADB) - To contribute to double farming incomes in Madhya Pradesh by expanding irrigation networks and system efficiency.
  • Asian Development Bank (ADB) approved financing package of $245 million to implement project for providing safe, sustainable drinking water service to million people in three districts of West Bengal (North 24 Parganas, Bankura and Purba Medinipur) affected by arsenic, fluoride, and salinity.
  • Rural Electrification Corporation (REC) signed loan agreement with German bank KfW in Frankfurt for EUR 200 million, for financing clean energy projects in India. This is REC’s fourth line of credit under Indo-German development cooperation.
  • Germany will provide soft loan of euro 120 million (INR 990 crore approximately) to India to strengthen sewage water treatment infrastructure in Uttarakhand in an effort to clean River Ganga under Clean Ganga Mission. German development agency GIZ also has prepared ‘Ganga Box’ aimed to target schools-going children and inform them about the river.
  • Central Government, State Government of Rajasthan and World Bank signed $250 million Development Policy Loan (DPL) to support Rajasthan in improving the performance of its Electricity Distribution Sector under State’s 24x7 Power for All program
    1. Second Programmatic Electricity Distribution Reform Development Policy Loan for Rajasthan is second in series of 2 operations planned for a comprehensive turnaro und of Rajasthan’s electricity distribution sector. The First Loan was closed in March 2017.

38. India's economy grew at an impressive __________________ in first quarter of 2018-19 financial year (Apr - June).

  1. GDP at constant (2011-12) prices in Q1 of 2018-19 is estimated at 33.74 lakh crores, as against  31.18 lakh crore in Q1 of 2017-18, showing a growth rate of ________________.
  2. GDP Growth Rate was 7.7 % in Previous quarter (Q4 of 2017-18).
8.2 %
7.2 %
7.9 %
8.8 %
None of These

39. India's fiscal deficit remained INR 4.29 trillion ($62.57 billion) for April-June Quarter of FY 2018-19 (68.7 % of budgeted target), compared with 80.8 % a year ago. India expects to trim deficit to 3.3 % of GDP this fiscal year, after meeting an upwardly revised fiscal deficit target of _______________________ of GDP in 2017-18.

2.5 %
3.5 %
4.5 %
1.5 %
None of These

40. Indian GDP Growth Forecasts (August 2018) -

  1. RBI retained GDP growth forecast at 7.4 pc for FY’19, in Third Bi-monthly Monetary Policy Statement 2018-19.
  2. USA's Financial Firm Morgan Stanley projected India’s GDP to grow by 7.5 % in 2018 – 2019.
  3. As per International Monetary Fund, India’s GDP will grow by 7.3 % in 2018-19 and 7.5 % in 2019-2020.
  4. India Ratings and Research (Ind-Ra) revised down its FY19 economic growth forecast to 7.2% from 7.4% earlier.
  5. As per Ficci’s survey ‘Ficci’s Economic Outlook Survey’, Indian economy is expected to grow at 7.4 % in current fiscal.
  6. Japanese Financial Firm Nomura predicted India’s current account deficit (CAD) to widen to 2.8 5 of GDP in FY19, from 1.9 % of GDP in 2017-18. Note that India's CAD was 0.6 % of GDP in 2016-17.
  7. Indian economy is expected to grow by around 7.5% in 2018 and 2019, according to Moody’s Investors Service.
  8. National Council of Applied Economic Research (NCAER) expected India’s growth forecast for the current fiscal (2018-19) at 7.4 %.
  9. RBI annual report 2017-18 expected India’s growth forecast for the current fiscal (2018-19) at _________________________ %.

41. Inland Waterways Authority of India (IWAI) launched a dedicated portal named FOCAL (_________________________________) to connect cargo owners and shippers with real time data on availability of vessels, To know availability of vessels in the market. It would ensure direct interaction among the vessel operators, shippers and cargo owners.

Few Cargo-Owners and Logistics-Operators
Forum of Cargo-Owners and Logistics-Operators
Forum of Cargo-Operators and Logistics-Owners
Forum of Cargo-Owners and Low Operators
None of These

42. ILO (_______________________) released a report titled ‘India Wage Report: Wage policies for decent work and inclusive growth’, depicting that though India’s economy in the past two decades saw an annual average GDP rate of 7 %, while low pay and inequality persists.

  1. Wage inequality declined since 2004–05; however, it continues to remain high.
  2. Despite a decline from 48 percent in 1993-94 to 34 percent in 2011–12, gender wage gap is still steep.
  3. Women employed as casual workers in rural economy earn lowest in India, which is 22 % of what urban regular male workers earn.
Internal Labour Organisation
International Labour Organisation
Intution Labour Organisation
International Level Organisation
None of These

43. Invest India (Department of Industrial Policy and Promotion) launched __________________________ Programme for startups in energy sector, as 3 month programme. It will provide opportunity for startups to collaborate around valuable energy transitions by bringing their ideas to life. Selected startups will receive cash prize grant of up to 5 lakh along with opportunity to pilot their product with corporates.

Integrate to Innovate
Internal Innovation
Integrate to Initiate
Internationl Innovation
None of These

44. Italian motorcycle-maker Benelli signed MoU with _____________________ government and Adishwar Auto Ride International (AARI) for setting a manufacturing facility.

Andhra Pradesh

45. Karnataka Vikas Grameena Bank (KVGB) launched a new deposit scheme called Vikas Bonanza 456, a scheme with tenure of __________________ days an interest rate of 7.10 % for public and 7.60 % for senior citizens. Minimum of 10000 and maximum of 1 crore can be deposited under this scheme.

None of These

46. ___________________ Metro Rail Corporation and BSNL have signed an MoU for extending benefits in customer services. BSNL will use the smart card services of DMRC for collection of post-paid bills.

None of These

47. ________________ Government announced 500 crores for OBCs in state, to help OBC community develop employment opportunities.


48. Minister of Commerce & Industry and Aviation Suresh Prabhu launched ____________________________ mobile App, developed by Federation of Indian Export Organisations (FIEO). It provides wide range of information required to undertake international trade, Including policy provisions for export and import, GST rate, available export incentives, preferential tariff, market access requirements – SPS and TBT measures. All information is available at tariff line.

  1. It maps ITC HS code of other countries with that of India and provides all required data without users bothering about HS code of any country. Presently app comes with data of 87 countries.
Niryat Mitra
Aayat Mitra
Sajag Mitra
Sahaj Mitra
None of These

49. Ministry of Commerce and Industry is developing ___________________________ is to ensure ease of trading in international and domestic markets, by linking stakeholders of EXIM (export and import), domestic trade and movement and all trade activities on single platform.

  1. It will be implemented in phases and will fulfil Central Government’s commitment to enhance trade competitiveness, create jobs, boost India’s performance in global rankings and pave way for India to become logistics hub.
Native Logistics Portal
National Logistics Portal
New Logistics Portal
Nodal Logistics Portal
None of These

50. ____________________________ launched a helpline number (011-21400643) for complaints regarding GST rate cuts, To encourage consumers to file complaints against the companies that are not passing GST rate cut benefits.

New Anti-profiteering Authority
Nodal Anti-profiteering Authority
Native Anti-profiteering Authority
National Anti-proactive Authority
National Anti-profiteering Authority

51. National Highways Authority of India (NHAI) signed unsecured loan agrement of INR _____________________ crores from State Bank of India for 10 years, as Largest amount of loan been sanctioned to NHAI in one stroke by any institution.

None of These

52. National Payments Corporation of India (NPCI) launched UPI 2.0, as upgraded version of _____________________ (UPI) -

  1. It adds 4 new features to UPI,
    1. Overdraft facility - It will allow users to link their overdraft (OD) account to UPI. Earlier, only current accounts and savings accounts were able to linked with UPI.
    2. One Time Mandate - It allows users to schedule payments. It also allows pre-authorisation of transaction in which amount will be deducted on date for which has been scheduled.
    3. Invoice in Inbox - It allows users to get invoices sent by merchants in their inbox, which will help them to view and verify credentials.
    4. Signed Intent and QR - This will allow users to check credentials of merchants via Quick Response (QR) code. It will enable to check whether merchant is UPI verified or not.
Universal Payments Interface
Unified Purity Interface
Unified Payments Interface
Unified Payments Institution
None of These

53. New _____________________ Tie Ups -

  1. Edelweiss Tokio Life Insurance tied up Fincare Small Finance Bank. It aims is to push life insurance to rural population.
  2. Bajaj Allianz General Insurance  and HDFC Life Insurance tied up with Vijaya Bank.
  3. DHFL Pramerica Life Insurance and Aditya Birla Health Insurance tied up with SVC Co-operative Bank.
Financial Inclusion
None of These

54. President Ram Nath Kovind gave his nod to Lok Sabha passed Fugitive Economic Offenders Bill 2018 that aims to curb practice of evading criminal prosecution by economic offenders fleeing from country to evade clutches Indian law by remaining outside jurisdiction of Indian courts. Key Features -

  1. It is applicable in cases where total value involved in such economic offences is Rs.______________ crores or more.
  2. It establishes Special Court under the Prevention of Money-laundering Act (PMLA), 2002 to declare a person as FEO. court will appoint ‘administrator’ to oversee confiscated property.
  3. It empowers director / deputy director (appointed under Prevention of Money-Laundering Act, 2002) to attach any property mentioned in application with permission of special court. Attachment will continue for 180 days, unless extended by court.
  4. Bill allows any civil court or tribunal to disallow person declared FEO, from filing or defending any civil claim.
  5. Director / deputy director will have powers vested of civil court.
  6. Appeals against orders of special court will lie before High Court.
  7. As per Reports, Vijay Mallya (promoter of defunct Kingfisher Airlines) is biggest offended as he frauded banks of about 7500 crores. Mehul Choksi, promoter of Gitanjali Jewels (7,080 crore) and his nephew Nirav Modi (6,498 crore) took second and third spots.

55. Public sector banks’ non-performing assets declined by Rs ___________________ crore in FY18 due to write-offs. This is about 60 % higher than settlement an year ago.

None of These

56. RBI Annual Report 2017 - 18 -

  1. RBI Expects 7.4 % GDP Growth rate for Current Fiscal 2017-18, compared to 6.7% in previous year.
  2. RBI Stated that 99.3 % notes of 500 and 2000 Denominations came back into system, after being demonetized in November 2016. There were 500 and 2000 Notes worth INR 15.4 Lakh crores at the time of demonetization, out of which banned notes worth INR 15.31 Lakh crores have came back into economy.
  3. India's external sector will have to confront global headwinds, but expressed confidence that the Current Account Deficit would largely be financed by foreign direct investment.
  4. NPA (Non Performing Assets) percentage of Banks is likely to increase further, from __________________________________ % currently.
  5. Headline inflation that averaged 4.8 per cent during Q1:2018-19, is likely to face upside risks over the rest of the year.
  6. India remains a preferred destination for foreign direct investment (FDI). India received $37.3 billion capital inflow in 2017-18 as compared to $36.3 billion in 2016-17 and $36.06 in 2015-16.
None of These

57. _____________ Updates -

  1. Allowed non-fund-based Umbrella organisations(UO) at State levels to revive India’s co-operative banking sector. Gujarat is first State to have an UO for UCB sector. A conference of co-operative banking sector under name Sahakar Setu 2018, has been held in Ahmedabad (Gujarat).
  2. Approved State Bank of Mauritius to operate in country through a wholly-owned subsidiary route under name SBM Bank (India), becoming first foreign bank to obtain such RBI approval.
  3. Barred Fino Payments Bank from adding new customers after it observed anomalies regarding deposits in the existing accounts. As per RBI, balance in customers' accounts should not exceed Rs 1 lakh. If it does, excess amount should automatically be transferred to any other bank account, provided by customer.
  4. Paid INR 50000 crores as dividend to Govt for last fiscal (FY 2017-18), 63% more than previous year's 30659 crores (FY 2016-17).
None of These

58. Reliance Industries became first Indian company to cross Rs 8 lakh crore ($114 billion) market capitalisation, also taking up Mukesh Ambani’s wealth to over $____________________ billion and cementing his place further as Asia's Richest Man.

  1. So far in 2018, RIL shares surged over 38 %. RIL added the latest Rs 1 trillion in market cap in just 23 trading sessions.
  2. Currently, RIL’s market value accounts for 5% of India’s total market cap.
  3. TCS was first Indian IT company to reach Rs. 7 lakh crore ($100 billion club) market capitalisation (m-cap) milestone in May 2018.
None of These

59. Reserve Bank of India (RBI) released Third Bi-monthly Monetary Policy Statement 2018-19 -

  1. Increased Repo Rate under Liquidity Adjustment Facility (LAF) by 25 basis points to _____________________%.
  2. Reverse Repo Rate adjusted to 6.25 %
  3. Marginal Standing Facility (MSF) rate and Bank Rate now stand at 6.75 %.
  4. RBI retained GDP growth forecast at 7.4 pc for FY’19.
  5. CRR (Cash Reserve Ratio) and SLR(Statutory Liquidity ratio) stayed at 4 % and 19.5 % respectively.
None of These

60. ______________________ Changed Names and IFSC codes of its 1295 branches, after rationalisation/merger with six associate banks and Bhartiya Mahila Bank (BMB). Bank had 22,428 branches across India by the end of the first quarter of the current fiscal.

None of These

61. Sarvatra Technologies launched ‘Sevalia Urban Co-operative Bank’ as 450th co-operative bank on ______________________ (NFS). Sarvatra brings many co-operative banks on digital payment platform by making them inter-operable with large banks.

Native Financial Switch
National Financial System
Nodal Financial Switch
National Financial Switch
None of These

62. Shipping Ministry signed new wage settlement agreement for Group C & D category of Port and Dock Workers, to benefit over 1.35 lakh port and dock workers and pensioners in 12 major ports across country. It includes -

  1. It will provide ____________________ wage hike to workers and pensioners.
  2. The lowest grade of workers would get a pay-scale of Rs 20900-43600 and the highest grade worker would get a pay-scale of Rs 36500-88700. Financial implication expected to be around Rs 560 crore per annum.
20.6 %
10.6 %
5.6 %
30.6 %
None of These

63. StarAgri Finance signed MoU with _______________________, To provide financial assistance to commodity traders and farmers. Micro-lending would be provided to traders and farmers in Tamil Nadu, Karnataka, Andhra Pradesh and Maharashtra.

Bandhan bank
Lakhsmi Vilas Bank
Tamilnad Mercantile Bank
Karur Vysya Bank

64. ________________ asked its customers to replace their ATM cards for Europay, MasterCard, Visa (EMV) chip based ATM-cum-debit cards with magnetic stripe before December 31, 2018.

  1. RBI had asked banks to issue only chip-based and Personal Identification Number (PIN) enabled debit / credit cards to stop frauds.
  2. EMV chip card and PIN protects against both counterfeit skimming and lost and stolen card fraud.
None of These

65. State Bank of India (SBI) launched its ___________________________ (MOPAD), aimed at providing digital convenience to customers and ease of doing business for merchants. MOPAD also aims at providing convenience to merchants by eliminating multiple machines that they keep in order to facilitate transaction from different sources.

Multi Option Purity Acceptance Device
Multi Option Payment Acclaimed Device
Mutual Option Payment Acceptance Device
Multi Option Payment Acceptance Device
None of These

66. Survey conducted by UK-based YouGov named _________________ as most patriotic brand in India, after surveying covered 152 brands across 11 categories.

None of These

67. Telecom Operator Reliance Jio partnered with ___________________ to extend next generation of digital banking and payments services to customers. MyJio platform will enable YONO digital banking features and solutions for a superior customer experience.

None of These

68. Telecom Regulatory Authority of India (TRAI) announced spectrum auction of 5G services at a pan-India reserve price of about INR _____________________ crore per MHz for first time in India. Previously, in 2016, recommended pan-India reserve price for 700 MHz was 11,500 crore and it has been reduced to Rs.6,538 crore per MHz in 2018.

None of These

69. Telecom Regulatory Authority of India (TRAI) integrated TRAI Mobile Apps namely DND 2.0 and MyCall with UMANG (___________________) Platform, With a view to increase reachability and facilitate citizens.

Unified Mutual Application for New-Age Governance
Universal Mobile Application for New-Age Governance
Universal Mode Application for New-Age Governance
Unified Mobile Application for New-Age Governance
None of These

70. Ujjivan Small Finance Bank launched an overdraft (OD) facility for micro and small enterprise (MSE) customers (turnover over ________________), as an add-on product to existing MSE term loans offered by bank.

50 lakh
10 lakh
20 lakh
100 lakh
None of These

71. Walmart completion of $_________________ billion deal for acquiring 77 % stake in Indian ecommerce firm Flipkart.

  1. Kalyan Krishnamurthy will continue to be Flipkart’s CEO.
  2. Co-founder Sachin Bansal exited with over 7000 Crores in Cash,while another Co-founder Binny Bansal will stay with his roles.
  3. Walmart will appoint five members to eight-member board of Flipkart.
None of These

72. Warren Buffett-led American conglomerate Berkshire Hathaway invested in Indian Financial Firm Paytm, taking 3-4% stake for aprox INR 2500 crores. It has valued Paytm at $_______________ billion.

None of These

73. e-Commerce Firm ______________________ unveiled a dedicated portal ‘2Gud‘ for refurbished goods, including mobile phones, laptops and tablets. It would offer refurbished mobile phones, tablets, laptops and other electronic accessories along with a 3-12 month warranty.

None of These

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