Quiz-5

Quiz-5

Q1. Which among the following private sector lender has partnered with Bangaluru- based fin-tech startup firm Fisdom for launching a mobile application Mission FINFIT?

(a) Bandhan Bank

(b) Lakshmi Vilas Bank

(c) RBL Bank

(d) South Indian Bank

(e) Kotak Mahindra Bank

Q2. As per the report of the rating agency, ICRA, the bank credit growth rate is likely to float between 5-6% in the current fiscal year (2017). ICRA was set up in-

(a) 1999

(b) 1988

(c) 1955

(d) 1982

(e) 1991

Q3. Name the person, who has been elected as the head of African Union (AU) Commission?

(a) Antonio Tajani

(b) Nkosazana Dlamini-Zuma 

(c) Moussa Faki Mahamat

(d) Jimmy Adams

(e) None of the given options is true

Q4. The First ever National Entrepreneurship Awards 2016 was presented by the Union Home Minister Shri Rajnath Singh in-

(a) IIT-Kanpur

(b) IIT-Delhi

(c) IIT-Kharagpur

(d) IIT-Guwahati

(e) IIT-Roorkee

Q5. How much amount has been decided in Union Budget to allocate towards recapitalisation of public sector banks in FY2017-18?

(a) Rs. 20,000 crore 

(b) Rs. 49,000 crore 

(c) Rs. 38,000 crore 

(d) Rs. 10,000 crore

(e) Rs. 70,000 crore 

Q6. Finance Minister Arun Jaitley has proposed a creation of a six-member Payments Regulatory Board in the RBI, headed by RBI Governor ___________ as part of bringing about structural reforms in the payment eco-system.

(a) SS Mundra

(b) Raghuram Rajan

(c) Duvvuri Subbarao

(d) Urjit Patel

(e) Y Venugopal Reddy

Q7. National carrier Air India will receive how much amount as equity infusion in 2017-18 under the government’s ongoing financial assistance and the amount is slightly higher than the allocation for 2016-2017?

(a) Rs 1,800 crore

(b) Rs 5,000 crore

(c) Rs 2,700 crore

(d) Rs 300 crore

(e) None of the given options is true

Q8. A new scheme will be introduced by Govt of India to create infrastructure for exports, a move aimed at reducing transaction costs for traders named TIES. what is the full form of TIES?

(a) Transaction Infrastructure for Export Scheme 

(b) Trade Investment for Export Scheme 

(c) Trade Infrastructure for Export Scheme

(d) Trade Infrastructure for Export Service

(e) None of the given options is true

Q9. What is the theme state of the 31st edition of Surajkund International Crafts Mela 2017?

(a) Chhatisgarh

(b) Rajasthan

(c) Bihar

(d) Odisha

(e) Jharkhand

Q10. UK Prime Minister ____________ has received Parliament's first stage approval to begin the process of Britain's exit from the European Union (EU) after winning a crucial vote in the House of Commons.

(a) Justin Trudeau

(b) Theresa May

(c) Malcolm Turnbull

(d) Bill English

(e) Alexis Tsipras

Q11. To augment income of farmers budget has proposed setting-up of a Dairy Processing and Infrastructure Development Fund with a corpus of ___________ over three years.

(a) Rs 19,000 crores 

(b) Rs 20,000 crores 

(c) Rs 5,000 crores 

(d) Rs 10,000 crores 

(e) Rs 8,000 crores

Q12. Name the player, who has become the World No 1 Junior Badminton player?

(a) Pullela Gopichand

(b) PV Sindhu

(c) Srikanth Kidambi

(d) Lakshya Sen

(e) None of the given options is true

Q13. In which among the following Indian cities Tech giant Apple has set up a manufacturing plant recently?

(a) Mumbai, Maharashtra

(b) Ahmedabad, Gujarat

(c) Bengaluru, Karnataka 

(d) Hyderabad, Telangana

(e) Gurugram, Haryana

Q14. As a core element of its transformation journey 'FutuReady', Tata Motors presented its new Passenger Vehicle strategy and introduced its new sub-brand TAMO. TAMO will premiere at the upcoming _______ Geneva International Motor Show on March 07, 2017. 

(a) 71st

(b) 87th

(c) 62nd

(d) 53rd

(e) 105th

Q15. India is expected to clock GDP growth of how much percent in 2017—18 as the country gets sufficiently demonetized and the schemes in the Budget play a supportive role, says an HSBC report.

(a) 7.1 percent

(b) 7.0 percent

(c) 6.9 percent

(d) 6.7 percent

(e) 7.3 percent

                                                                                  Solutions

S1. Ans.(b)
Sol. The private sector lender Lakshmi Vilas Bank in partnership with Bangalore based fin-tech startup firm Fisdom, has launched a mobile application Mission FINFIT to offer the customers of the bank financial planning and personal wealth management services based on Robo advisory. The mobile app would enable the customer of the bank to plan their finances in an effective manner using the online platform for wealth management thus encouraging them to invest smarter.

S2. Ans.(e)
Sol. As per the report of the rating agency, ICRA, the bank credit growth rate is likely to float between 5-6% in the current fiscal year (2017). The reason cited includes weak loan demand as the rate of return offered by debt market is better in comparison to banks.Besides, the deposit rate was also projected to drop to 12 percent from the current 14.7 percent this fiscal ending March 2017 due to better cash flow in the system and cut in the deposit rate by the banks. ICRA Limited (formerly Investment Information and Credit Rating Agency of India Limited) was set up in 1991 by leading financial/investment institutions, commercial banks and financial services companies as an independent and professional investment Information and Credit Rating Agency.

S3. Ans.(c)
Sol. Chadian foreign affairs minister Moussa Faki Mahamat has been elected as the head of African Union (AU) Commission. He will replace Nkosazana Dlamini-Zuma.

S4. Ans.(b)
Sol. The First ever National Entrepreneurship Awards 2016 was presented by the Union Home Minister Shri Rajnath Singh at Indian Institute of Technology, New Delhi. Shri Rajiv Pratap Rudy, Minister of State (I/C) for Skill Development and Entrepreneurship was the guest of honour on the occasion. The National Entrepreneurship Awards was instituted by the Ministry of Skill Development and Entrepreneurship (MoSDE) to recognize and honor the entrepreneurial spirit of India’s youth and encourage more and more young Indians to become entrepreneur.The awards were given in 11 different categories divided into two groups Award Track and Recognition Track.

S5. Ans.(d)
Sol. The Union Budget has allocated Rs. 10,000 crore towards recapitalisation of public sector banks in FY2017-18. Under Indradhanush roadmap announced in 2015, the government stated to infuse Rs. 70,000 crore in state banks over four years while they will have to raise a further Rs. 1.1 lakh crore from the markets to meet their capital requirement in line with global risk norms, known as Basel—III.

S6. Ans.(d)
Sol. Finance Minister Arun Jaitley has proposed a creation of a six-member Payments Regulatory Board in the RBI, headed by RBI Governor Urjit Patel as part of bringing about structural reforms in the payment eco-system. For the purpose, necessary amendments are proposed in the Finance Bill 2017 to create a Payments Regulatory Board in the Reserve Bank of India by replacing the existing Board for Regulation and Supervision of Payment and Settlement Systems.

S7. Ans.(a)
Sol. National carrier Air India will receive Rs 1,800 crore as equity infusion in 2017-18 under the government’s ongoing financial assistance and the amount is slightly higher than the allocation for 2016-2017. The allocation has been made in the Union Budget for 2017-18, which was presented by Finance Minister Arun Jaitley. For 2016-17, the government had allocated Rs 1,713 crore to the airline against a demand of Rs 3,911 crore. 

S8. Ans.(c)
Sol. A new scheme will be introduced by Govt of India to create infrastructure for exports, a move aimed at reducing transaction costs for traders. A new and restructured central scheme with a focus on export infrastructure namely Trade Infrastructure for Export Scheme (TIES) will be launched in 2017-18. 

S9. Ans.(e)
Sol. The 31st edition of Surajkund International Crafts Mela started with amid tight security. To be inaugurated by Haryana chief minister Manohar Lal Khattar, the carnival is a 15-day affair in Faridabad, Haryana. Over 20 countries are participating in the event with Egypt as a partner country this year, 2017 and Jharkhand as the theme state.

S10. Ans.(b)
Sol. UK Prime Minister Theresa May has received Parliament's first stage approval to begin the process of Britain's exit from the European Union (EU) after winning a crucial vote in the House of Commons. British MPs voted in favour of the European Union (Notification of Withdrawal) Bill. 498 MPs voted in favour of Brexit Bill, while 114 voted against it.

S11. Ans.(e)
Sol. To augment income of farmers budget has proposed setting-up of a Dairy Processing and Infrastructure Development Fund with a corpus of Rs 8,000 crores over three years. Dairy is an important source of additional income for the farmers. A Dairy Processing and Infrastructure Development Fund would be set-up in NABARD with a corpus of Rs 8,000 crores over 3 years stated Finance Minister Arun Jaitley during his budget speech, 2017. 

S12. Ans.(d)
Sol. India's Lakshya Sen has become the World No 1 Junior Badminton player. He achieved the distinction in the latest rankings of the Badminton World Federation (BWF). Fifteen-year-old is the first shuttler from Uttarakhand to attain the numero uno spot at the international level. 

S13. Ans.(c)
Sol. Tech giant Apple has reached an agreement with the Karnataka government to set up a manufacturing plant in Bengaluru, Karnataka. "Apple’s decision on initial manufacturing in Bengaluru has further enhanced the reputation of Bengaluru as the most preferred destination for foreign investment," the Karnataka government said. Apple is reportedly expected to start production for the Indian market in April.

S14. Ans.(b)
Sol. As a core element of its transformation journey 'FutuReady', Tata Motors presented on 02nd February 2017 its new Passenger Vehicle strategy and introduced its new sub-brand - TAMO. TAMO will act as an incubating centre of innovation towards new technologies, business models and partnerships in order to define future mobility solutions. The first product developed by TAMO will premiere at the upcoming 87th Geneva International Motor Show on March 07, 2017.

S15. Ans.(a)
Sol. India is expected to clock GDP growth of 7.1 percent in 2017—18 as the country gets sufficiently remonetized and the schemes in the Budget play a supportive role, says an HSBC report. The uptick in the growth numbers would be largely driven by the remonetisation process, which is expected by April-end, as this, in turn, would boost the consumption levels in the country. HSBC expect GDP to grow at 7.1 per cent year-on-year in 2017-18, up from 6.3 per cent in 2016-17, as the country gets sufficiently remonetised (by April-end), and consumption moves back to pre-demonetisation levels.