Q1. Softbank has made its biggest investment in an Indian digital enterprise by sealing a funding round of Rs 9,000 crore ($1.4 billion) in mobile payments provider Paytm. Softbank is based in-
(a) Austria
(b) Japan
(c) Hong Kong
(d) China
(e) Russia
S1. Ans.(b)
Sol. Softbank has made its biggest investment in an Indian digital enterprise by sealing a funding round of Rs 9,000 crore ($1.4 billion) in mobile payments provider Paytm.The Japanese internet and telecom conglomerate will now own about a fifth of the Noida-based company estimated to be worth $8 billion, making it the country’s second most valuable startup. This is the largest fund infusion by a single investor in an Indian start-up and also Softbank's largest investment in a single company in India.
Q2. Which among the following banks has entered into a Memorandum of Understanding (MoU) with Life Insurance Corporation (LIC) of India for selling life insurance products of LIC?
(a) Kotak Mahindra Bank
(b) Axis Bank
(c) ICICI Bank
(d) State Bank of India
(e) Karnataka Bank
S2. Ans.(e)
Sol. Karnataka Bank Ltd has entered into a Memorandum of Understanding (MoU) with Life Insurance Corporation (LIC) of India for selling life insurance products of LIC.
Q3. HDFC Life has announced the launch of an artificial intelligence-based application 'SPOK' that can automatically read, understand, categorise, prioritise and respond to customer emails sent to the private insurer. Where is the corporate office of HDFC life?
(a) Nainital
(b) Jaipur
(c) Mumbai
(d) New Delhi
(e) Ahmedabad
S3. Ans.(c)
Sol. HDFC Life has announced the launch of an artificial intelligence-based application 'SPOK' that can automatically read, understand, categorise, prioritise and respond to customer emails sent to the private insurer. Mumbai is the corporate office of HDFC life.
Q4. Which bank has launched a new trading platform called “Selfie” for customers in association with Geojit?
(a) Federal Bank
(b) IDFC Bank
(c) Kotak Mahindra Bank
(d) HDFC Bank
(e) ICICI Bank
S4. Ans.(a)
Sol. Federal Bank, in association with Geojit, has launched a new trading platform called “Selfie” for customers. Designed and managed by Geojit, the trading platform will give its users absolute control over their investments with timely research inputs to make sound investment decisions.
Q5. _____________ and IFFCO rolled out their first set of co-branded debit cards for farmers as part of a novel initiative to push digitalisation and cashless economy.
(a) SIDBI
(b) SBI
(c) PNB
(d) BOB
(e) NABARD
S5. Ans.(d)
Sol. Bank of Baroda (BOB) and IFFCO has rolled out their first set of co-branded debit cards for farmers as part of a novel initiative to push digitalisation and cashless economy. Both the organisations in February 2017 entered into a memorandum of understanding (MoU) in this regard. The co-branded debit cards, with inbuilt overdraft of Rs. 2,500 in special savings bank account, could be used for purchase of various agri products at IFFCO sale counters.
Q6. The Employees Provident Fund Organisation (EPFO) has approved hike in investment limit in ETFs to 15% from the existing 10%. What is the meaning of "T" in ETFs?
(a) Traded
(b) Transit
(c) Truncated
(d) Transfer
(e) Total
S6. Ans.(a)
Sol. The Employees Provident Fund Organisation has approved hike in investment limit in exchange traded funds (ETFs) to 15%, from the existing 10%, Union Labour Minister Bandaru Dattatreya stated it. The decision was taken during the meeting of the Central Board of Trustees (CBT). In 2016, the investment was raised to 10%.
Q7. India has signed a loan agreement of 36 million dollars with the World Bank for Himachal Pradesh Public Financial Management Capacity Building Programme. Who is present President of World Bank?
(a) Tedros Adhanom Ghebreyesus
(b) Jim Yong Kim
(c) Takehiko Nakao
(d) Christine Lagarde
(e) Jin Liqun
S7. Ans.(b)
Sol. India has signed a loan agreement of 36 million dollars with the World Bank for Himachal Pradesh Public Financial Management Capacity Building Programme. The project aims to improve the efficiency of public expenditure management and tax administration in Himachal Pradesh. The agreement was signed by Joint Secretary of Department of Economic Affairs Raj Kumar and the Bank's Country Director Junaid Kamal Ahmad. Jim Yong Kim is the President of World Bank and its headquarter is in Washington, D.C, USA.
Q8. Which Bank has entered into a distribution agreement to sell the mutual fund products of HDFC Capital Asset Management Ltd (HDFCAML) during exchanged the memorandum of understanding in Mangaluru, Karnataka?
(a) State Bank of India
(b) Karur Vysya Bank
(c) Karnataka Bank
(d) Kotak Mahindra Bank
(e) ICICI Bank
S8. Ans.(c)
Sol. Karnataka Bank Ltd has entered into a distribution agreement to sell the mutual fund products of HDFC Capital Asset Management Ltd (HDFCAML) during exchanged the memorandum of understanding in Mangaluru, Karnataka. Investment in mutual funds will provide an opportunity to those customers who are uncomfortable about investing directly in stock markets as this tie-up will give HDFCAML an opportunity to expand its base in these centers.
Q9. The Reserve Bank of India will soon put into circulation currency notes in ____________ denomination.
(a) three rupee
(b) four rupee
(c) two rupee
(d) one rupee
(e) ten rupee
S9. Ans.(d)
Sol. The Reserve Bank of India will soon put into circulation currency notes in one rupee denomination. New one rupee notes with predominantly pink-green on obverse and reverse in combination with other colours will be soon put into circulation.The notes bearing the rupee symbol have been printed by the Government of India.
Q10. __________ and the World Bank has announced that they had financed 100 MW of rooftop solar projects worth Rs400 crore in India.
(a) RBI
(b) BOB
(c) ICICI
(d) PNB
(e) SBI
S10. Ans.(e)
Sol. State Bank of India and the World Bank announced that they had financed 100 MW of rooftop solar projects worth Rs400 crore in India. SBI has availed of a loan of $625 million from the World Bank for on-lending to viable Grid-Connected Rooftop Solar PV (GRPV) projects undertaken by developers, aggregators and end-users, for installation of rooftop solar systems.
Q11. India's Gross Domestic Product (GDP) grew ___________ year-on-year during the January-March, 2017 period according to government data.
(a) 6.7 per cent
(b) 6.5 per cent
(c) 6.3 per cent
(d) 6.9 per cent
(e) 6.1 per cent
S11. Ans.(e)
Sol. India's Gross Domestic Product (GDP) grew 6.1 per cent year-on-year during the January-March, 2017 period according to government data. With this, India loses its status of the world's fastest growing economy. China's GDP grew 6.9 per cent during the same quarter. The GDP growth rate for the full year (2016-17) came in at 7.1 per cent in line with official estimate compared to a revised growth figure of 8 per cent in FY16.
Q12. The GST Council has cleared the pending rules, including transition provisions and returns, with all the States agreeing to the July 01st 2017 rollout of the tax. What is the meaning of "S" in GST?
(a) Solutions
(b) Semester
(c) System
(d) Services
(e) Sending
S12. Ans.(d)
Sol. The GST (Goods and Services Tax) Council has cleared the pending rules, including transition provisions and returns, with all the States agreeing to the July 01st 2017 rollout of the tax. Transition rules have been cleared and everybody has agreed for a July 1 rollout,” according to Kerala Finance Minister Thomas Isaac. The GST Council last month fitted over 1,200 goods and 500 services in the tax brackets of 5, 12, 18 and 28 per cent.
Q13. The Reserve Bank of India has initiated PCA for Dena Bank in view of high net non-performing assets and negative return on assets. PCA stands for-
(a) Prompt Collection Action
(b) Prompt Corrective Agency
(c) Prompt Corrective Action
(d) Prompt Corrective Association
(e) Permanent Corrective Action
S13. Ans.(c)
Sol. The Reserve Bank of India has initiated Prompt Corrective Action (PCA) for Dena Bank in view of high net non-performing assets and negative return on assets. Last month (May 2017), the central bank had initiated PCA for IDBI Bank and UCO Bank in view of high NNPAs and negative ROA.
Q14. Which among the following Banks is going to develop as many as 100 digital villages in various States of the country as part of its initiative to promote digital banking among the rural population?
(a) UCO Bank
(b) Vijaya Bank
(c) Corporation Bank
(d) Bank of India
(e) Central Bank of India
S14. Ans.(b)
Sol. Vijaya Bank is going to develop as many as 100 digital villages in various States of the country as part of its initiative to promote digital banking among the rural population.
Q15. Leading bourse National Stock Exchange (NSE) has launched its international exchange in the Gujarat International Finance Tec-City (GIFT City). Where is the corporate office of NSE?
(a) Mumbai
(b) New Delhi
(c) Bengaluru
(d) Hyderabad
(e) Nagpur
S15. Ans.(a)
Sol. Leading bourse National Stock Exchange (NSE) launched its international exchange in the Gujarat International Finance Tec-City (GIFT City). NSE IFSC Ltd, the global exchange promoted by NSE, will remain operational for a longer period than NSE during a trading day. Mumbai is the corporate office of National Stock Exchange.
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