Banking Awareness

Q1. In which of the following types of banking, there is a direct execution of transaction between a bank and its consumers?

(a) Retail Banking

(b) Universal Banking

(c) Virtual Banking

(d) Unit Banking

(e) None of the given options is true

S1. Ans.(a)

Sol. Retail banking also known as Consumer Banking is the provision of services by a bank to individual consumers, rather than to companies,

 corporations or other banks. Services offered include savings and transactional accounts, mortgages, personal loans, debit cards, and credit cards.

Q2. Maximum loan amount to individuals against physical security shares can be _____

(a) 20 lakh

(b) 15 lakh

(c) 25 lakh

(d) 50 lakh

(e) 10 lakh

S2. Ans.(e)
Sol. Loans/ advances granted to individuals against the security of shares, debentures and PSU bonds should not exceed Rs.10 lakh and Rs.20 lakh,

 if the securities are held in physical form and dematerialized form respectively.

Q3. The process by which the central bank of a country controls the supply of money in the economy by exercising its control over -

interest rates in order to maintain price stability and achieve high economic growth is known as:

(a) Economic Policy

(b) Monetary Policy

(c) Fiscal Policy

(d) Credit Policy

(e) Budgetary Policy

S3. Ans.(b)
Sol. Monetary Policy is the process by which monetary authority of a country, generally a central bank controls the supply of money in the economy

 by exercising its control over interest rates in order to maintain price stability and achieve high economic growth. In India, 

the central monetary authority is the Reserve Bank of India (RBI). is so designed as to maintain the price stability in the economy.

Q4. Loans granted by a bank to an exporter popularly known as ‘Export credit’ is guaranteed, in case of default,by which of the following

(a) EXIM Bank

(b) Ministry of International Trade, GOA

(c) ECGC

(d) DICGC

(e) None of the given options is true

S4. Ans.(c)
Sol. ECGC Limited (Formerly Export Credit Guarantee Corporation of India Ltd) is a company wholly owned by the Government of India based in Mumbai,

 Maharashtra. It provides export credit insurance support to Indian exporters and is controlled by the Ministry of Commerce.

Q5. Who amongst the following is the regulator in the financial system of the country?

(a) OIC

(b) SEBI

(c) CRISIL

(d) TRAN

(e) CERC

S5. Ans.(b)
Sol. The financial system in India is regulated by independent regulators in the field of banking, insurance, capital market, commodities market, and pension funds.

 Example of Financial Regulators: RBI, IRDAI, SEBI, PFRDA.

Q6. Which Bank has launched instant credit cards enabling its savings account customers to get a credit card instantly, 

in a completely digital and paperless manner recently?

(a) State Bank of India

(b) ICICI Bank

(c) Axis Bank

(d) Bank of Baroda

(e) HDFC Bank

S6. Ans.(b)
Sol. The country's largest private sector lender, ICICI Bank has launched instant credit cards enabling its savings account 

customers to get a credit card instantly, in a completely digital and paperless manner.

Q7. Private sector lender IDFC Bank has partnered with digital payments company Zeta, to launch ‘IDFC Bank Benefits’.

 It is a payment solution for corporates that digitizes employee spends and claims, making the process simple, real-time and paperless.

 Where is the head office of IDFC Bank?

(a) Chennai

(b) New Delhi

(c) Jaipur

(d) Kolkata

(e) Mumbai

S7. Ans.(e)
Sol. Private sector lender IDFC Bank has partnered with digital payments company Zeta, to launch ‘IDFC Bank Benefits’. 

It is a payment solution for corporates that digitizes employee spends and claims, making the process simple, real-time and paperless.

 The Head office of IDFC Bank is in Mumbai.

Q8. Syndicate Bank has pared its marginal cost of funds based lending rate (MCLR) by 5-10 basis points in certain maturity

 buckets recently. Where is the headquarter of Syndicate Bank?

(a) Lucknow, Uttar Pradesh

(b) Jaipur, Rajasthan

(c) Kolkata, west Bengal

(d) Manipal, Karnataka

(e) Chennai, Tamil Nadu

S8. Ans.(d)
Sol. Syndicate Bank has pared its marginal cost of funds based lending rate (MCLR) by 5-10 basis points in certain maturity buckets. 

MCLR for six months and one year will be 8.3 per cent (8.35 per cent now) and 8.5 per cent (8.60 per cent now), respectively, with effect from August 10. 

Headquarter of Syndicate Bank is in Manipal, Karnataka.

Q9. India signed a loan agreement with Asian Infrastructure Investment Bank (AIIB) for financing of USD 329 million for Gujarat Rural Roads Project. AIIB based in-?

(a) Japan

(b) China

(c) Germany

(d) France

(e) USA

S9. Ans.(b)
Sol. India signed a loan agreement with Asian Infrastructure Investment Bank (AIIB) for financing of USD 329 million for Gujarat Rural Roads Project. 

Headquarters of AIIB is located in Beijing, China.

Q10. Private sector lender Axis Bank reduced interest rate on savings bank accounts by 50 basis points to 3.5 per cent for deposits up to-

(a) Rs 1 lakh 

(b) Rs 80 lakh 

(c) Rs 20 lakh 

(d) Rs 50 lakh

(e) Rs 10 lakh

S10. Ans.(d)
Sol. Private sector lender Axis Bank reduced interest rate on savings bank accounts by 50 basis points to 

3.5 per cent for deposits up to Rs 50 lakh. However, the bank will continue to pay 4 per cent interest on deposits of above Rs 50 lakh.

Banking Awareness

Q1. Which among the following countries has contributed $100,000 to a UN fund to help developing countries actively participate in the discussion of tax issues, becoming the first country to make the contribution?
(a) India
(b) UK
(c) Austria
(d) Canada
(e) China

S1. Ans.(a)
Sol. India has contributed $100,000 to a UN fund to help developing countries actively participate in the discussion of tax issues, becoming the first country to make the contribution. The UN Tax Trust Fund aims to support the work of the Committee of Experts on International Cooperation in Tax Matters.

Q2. Which bank has started insolvency resolution process against Lanco Infratech Ltd. following a directive from the Reserve Bank of India (RBI), While this is the first resolution process initiated by the lenders against 12 large borrowers identified by the RBI recently.
(a) State Bank of India
(b) IDBI Bank
(c) Punjab National Bank
(d) Bank of India
(e) ICICI Bank

S2. Ans.(b)
Sol. IDBI Bank has started insolvency resolution process against Lanco Infratech Ltd. following a directive from the Reserve Bank of India (RBI), while this is the first resolution process initiated by the lenders against 12 large borrowers identified by the RBI recently.

Q3. Stepping up its fight against tax evasion, the Centre has made it mandatory to quote the Aadhaar number for opening bank accounts and for transactions exceeding-
(a) Rs.10,000
(b) Rs.80,000
(c) Rs.50,000
(d) Rs.1,00,000
(e) Rs.1,50,000

S3. Ans.(c)
Sol. Stepping up its fight against tax evasion, the Centre has made it mandatory to quote the Aadhaar number for opening bank accounts and for transactions exceeding Rs.50,000. With the amendments to the Prevention of Money Laundering (Maintenance of Records) Rules, 2005 notified earlier this month, banks will have to demand both Aadhaar and the Permanent Account Number (PAN) for verification of identity.

Q4. The Reserve Bank of India has initiated PCA on Bank of Maharashtra placing a restriction on the banking activities. What is the meaning of "A" in PCA?
(a) Against
(b) Assets
(c) Association
(d) Action
(e) Agency

S4. Ans.(d)
Sol. The Reserve Bank of India has initiated prompt corrective action (PCA) on Bank of Maharashtra placing a restriction on the banking activities. This RBI has said that the action is taken on the bank in view of the high level of bad loans. This is the sixth bank to be placed under PCA by the RBI and of this five banks were placed under PCA in the last three months. RBI has initiated PCA on Central Bank of India, IDBI Bank, UCO Bank, Dena Bank and Indian Overseas Bank.

Q5. Which among the following international organisation has cleared a USD 250-million loan for making Indian youth more employable through reskilling, in a move that is seen to aid the Skill India Mission?
(a) Asian Development Bank (ADB)
(b) World Trade Organization (WTO)
(c) Asian Infrastructure Investment Bank (AIIB)
(d) International Monetary Fund (IMF)
(e) World Bank (WB)

S5. Ans.(e)
Sol. The World Bank has cleared a USD 250-million loan for making Indian youth more employable through reskilling, in a move that is seen to aid the Skill India Mission. The multi-lateral lender is keen to support the Indian government in its efforts to better equip the young workforce with employable skills. Under the program, adults in 15-59 years of age, underemployed or unemployed, will get the skill training.

Q6. The RBI has cut the repo rate by 25 bps in third bi-monthly monetary policy 2017. What is present Repo Rate?
(a) 5.75 per cent
(b) 6.00 per cent
(c) 6.25 per cent
(d) 6.50 per cent
(e) 5.50 per cent

S6. Ans.(b)
Sol. On the basis of an assessment of the current and evolving macroeconomic situation at its meeting, the Monetary Policy Committee (MPC), headed by Urjit Patel, decided to reduce the Policy Repo Rate under the liquidity adjustment facility (LAF) by 25 basis points from 6.25 per cent to 6.0 per cent with immediate effect.

Q7. Which among the following public sector Banks has offered BBPS, introduced by the National Payments Corporation of India for its customers?
(a) Bank of Baroda
(b) State Bank of India
(c) Central Bank of India
(d) Punjab National Bank
(e) Indian Overseas Bank

S7. Ans.(e)
Sol. Public sector Indian Overseas Bank has offered Bharat Bill Payment System, introduced by the National Payments Corporation of India, for its customers. BBPS is an integrated bill payment system that offers inter-operable online bill payments to customers.

Q8. Which Bank has launched its first ‘Digital Banking Branch’ named 'CANDI' in Bengaluru?
(a) Union Bank
(b) ICICI Bank
(c) Canara Bank
(d) Indian Bank
(e) Axis Bank

S8. Ans.(c)
Sol. Canara Bank has launched its first ‘Digital Banking Branch’ named 'CANDI' in Bengaluru. The branch will provide an end-to-end digital experience to customers. The bank has introduced customer-friendly mobile apps which help customers get most of the information related to their accounts from the app without the need to visit the branch.

Q9. The decline in rate of inflation and high real interest rates have prompted State Bank of India to cut the savings bank deposits rate from 4 per cent to ___________ on deposits below Rs. 1 crore. 
(a) 3.50 per cent
(b) 2.75 per cent
(c) 3.75 per cent
(d) 3.30 per cent
(e) 3.00 per cent

S9. Ans.(a)
Sol. The decline in rate of inflation and high real interest rates have prompted State Bank of India to cut the savings bank deposits rate from 4 per cent to 3.5 per cent on deposits below Rs. 1 crore. This cut in savings bank rate will prompt many banks to follow suit.

Q10. The RBI has imposed a penalty of Rs. 3 crore on state-owned Union Bank of India for “non-compliance” with the directions on KYC norms. KYC stands for-?
(a) Know Your Commerce
(b) Know Your Conclusion
(c) Kite Your Customer
(d) Know Your Customer
(e) Know Your Consumer

S10. Ans.(d)
Sol. The RBI has imposed a penalty of Rs. 3 crore on state-owned Union Bank of India for “non-compliance” with the directions on Know Your Customer (KYC) norms.

Q11. In which of the following types of banking, there is a direct execution of transaction between a bank and its consumers?
(a) Retail Banking
(b) Universal Banking
(c) Virtual Banking
(d) Unit Banking
(e) None of the given options is true

S11. Ans.(a)
Sol. Retail banking also known as Consumer Banking is the provision of services by a bank to individual consumers, rather than to companies, corporations or other banks. Services offered include savings and transactional accounts, mortgages, personal loans, debit cards, and credit cards.

Q12. Maximum loan amount to individuals against physical security shares can be _____
(a) 20 lakh
(b) 15 lakh
(c) 25 lakh
(d) 50 lakh
(e) 10 lakh

S12. Ans.(e)
Sol. Loans/ advances granted to individuals against the security of shares, debentures and PSU bonds should not exceed Rs.10 lakh and Rs.20 lakh, if the securities are held in physical form and dematerialized form respectively.

Q13. The process by which the central bank of a country controls the supply of money in the economy by exercising its control over interest rates in order to maintain price stability and achieve high economic growth is known as:
(a) Economic Policy
(b) Monetary Policy
(c) Fiscal Policy
(d) Credit Policy
(e) Budgetary Policy


S13. Ans.(b)
Sol. Monetary Policy is the process by which monetary authority of a country, generally a central bank controls the supply of money in the economy by exercising its control over interest rates in order to maintain price stability and achieve high economic growth. In India, the central monetary authority is the Reserve Bank of India (RBI). is so designed as to maintain the price stability in the economy.

Q14. Loans granted by a bank to an exporter popularly known as ‘Export credit’ is guaranteed, in case of default, by which of the following
(a) EXIM Bank
(b) Ministry of International Trade, GOA
(c) ECGC
(d) DICGC
(e) None of the given options is true

S14. Ans.(c)
Sol. ECGC Limited (Formerly Export Credit Guarantee Corporation of India Ltd) is a company wholly owned by the Government of India based in Mumbai, Maharashtra. It provides export credit insurance support to Indian exporters and is controlled by the Ministry of Commerce.

Q15. Who amongst the following is the regulator in the financial system of the country?
(a) OIC
(b) SEBI
(c) CRISIL
(d) TRAN
(e) CERC

S15. Ans.(b)
Sol. The financial system in India is regulated by independent regulators in the field of banking, insurance, capital market, commodities market, and pension funds. Example of Financial Regulators: RBI, IRDAI, SEBI, PFRDA.

Banking Awareness

Q1. HDFC Life Insurance Company has launched ____________ a servicing bot for Twitter that uses artificial intelligence for customer service.

(a) Ping

(b) Seog

(c) Neo

(d) Jong

(e) Meen

S1. Ans.(c)

Sol. HDFC Life Insurance Company has launched 'Neo', a servicing bot for Twitter that uses artificial intelligence for customer service. This is the second bot put in operation by HDFC Life, after the launch of SPOK, which was an email bot to answer customer queries.

Q2. The Reserve Bank of India opened a branch in which city to make transactions of the Uttarakhand State government more convenient?

(a) Mussoorie

(b) Rishikesh

(c) Nainital

(d) Haridwar

(e) Dehradun

S2. Ans.(e)
Sol. The Reserve Bank of India opened a branch in the Dehradun city to make transactions of the Uttarakhand State government more convenient. Uttarakhand Chief Minister Trivendra Singh Rawat inaugurated the RBI's Branch. Earlier, the state government had to do financial transactions through the Kanpur branch of the RBI.

Q3. Private insurer Tata AIA Life announced the launch of ‘Eazy Connect’, that will extend online customer service to social media platforms. Tata AIA Life) is a joint venture company, formed by-

(a) Tata Sons Limited

(b) AIA Group Limited

(c) Bajaj Allianz

(d) Both (a) and (b)

(e) Both (b) and (c)

S3. Ans.(d)
Sol. Private insurer Tata AIA Life announced the launch of ‘Eazy Connect’, that will extend online customer service to social media platforms. Tata AIA Life Insurance Company Limited (Tata AIA Life) is a joint venture company, formed by Tata Sons Limited and AIA Group Limited (AIA).

Q4. Asian Development Bank (ADB) has downgraded India’s growth projection to __________ for the current fiscal (2017-18) while lowering its forecast for the next financial year as well.

(a) 7.00 percent

(b) 7.10 percent

(c) 7.30 percent

(d) 7.90 percent

(e) 7.60 percent

S4. Ans.(a)
Sol. Asian Development Bank (ADB) has downgraded India’s growth projection to 7 percent for the current fiscal while lowering its forecast for the next financial year as well. India’s GDP growth is downgraded to 7 percent in the financial year 2017-18, a 0.4 percentage point drop from the April forecast. In the financial year 2018-19, the forecast is adjusted down to 7.4 percent, from 7.6 percent, according to the Asian Development Outlook 2017 update.

Q5. The Asian Development Bank will increase its annual lending to India to a maximum of how much billion between 2018 and 2022 to help fasten inclusive economic transformation towards upper middle-income status.

(a) $6 billion 

(b) $4 billion

(c) $10 billion 

(d) $15 billion 

(e) $1 billion 

S5. Ans.(b)
Sol. The Asian Development Bank will increase its annual lending to India to a maximum of $4 billion between 2018 and 2022 to help fasten inclusive economic transformation towards upper middle-income status.

Q6. Who is the present Managing Director (MD) of HDFC Bank?

(a) Rajnish Kumar

(b) Uday Kotak

(c) Shikha Sharma

(d) Chanda Kochhar

(e) Aditya Puri

S6. Ans.(e)
Sol. Aditya Puri is the present Managing Director (MD) of HDFC Bank.

Q7. Which among the following insurance company and Apollo Munich Health has come together to launch ‘Click2Protect Health plan’, which provides both life and health cover under a single plan?

(a) Aviva Insurance Company

(b) MetLife insurance company

(c) Sun Life Financial

(d) HDFC Life Insurance

(e) ING Group

S7. Ans.(d)
Sol. HDFC Life Insurance and Apollo Munich Health have come together to launch ‘Click2Protect Health plan’, which provides both life and health cover under a single plan. This plan combines the benefits of HDFC Life’s ‘Click2Protect 3D Plus (term) protection plan’ and Apollo Munich’s ‘Optima Restore health indemnity plan’.

Q8. Where is the headquarters of Asian Development Bank (ADB)? 

(a) New Delhi, India

(b) Beijing, China

(c) Manila, Philippines

(d) Tokyo, Japan

(e) Nairobi, Kenya

S8. Ans.(c)
Sol. The headquarters of ADB is in Manila, Philippines.

Q9. The government has kept unchanged the interest rates on small savings schemes like PPF, Kisan Vikas Patra and Sukanya Samriddhi for October-December quarter. Sukanya Samriddhi Account can be opened up to the age of _______ years only from the date of birth.

(a) 5 years

(b) 10 years

(c) 15 years

(d) 20 years

(e) 25 years

S9. Ans.(b)
Sol. The government has kept unchanged the interest rates on small savings schemes like PPF, Kisan Vikas Patra and Sukanya Samriddhi for October-December quarter. Investments in the Public Provident Fund (PPF) scheme will fetch annual rate of 7.8 percent while Kisan Vikas Patra (KVP) investments will yield 7.5 percent and mature in 115 months. Sukanya Samriddhi Account can be opened up to age of 10 years only from the date of birth. For initial operations of Scheme, one year grace has been given.

Q10. Which Bank has entered into an MoU with Hindustan Petroleum Corporation Ltd (HPCL) for enabling all HPCL retail outlets with BHIM/UPI merchant solutions?

(a) Vijaya Bank

(b) Corporation Bank

(c) Bank of India

(d) State Bank of India

(e) Bank of Baroda

S10. Ans.(a)
Sol. Vijaya Bank has entered into an MoU with Hindustan Petroleum Corporation Ltd (HPCL) for enabling all HPCL retail outlets with BHIM/UPI merchant solutions. This rollout will empower all petrol pump attendants and LPG delivery personnel to accept digital payments.

Q11. The Reserve Bank of India (RBI) is to launch a financial literacy drive in 80 blocks in nine states on the pilot basis to educate people on e-transactions, formal sector borrowings and insurance purchases. What is the aim of this drive? 

(a) To inculcate the habit of making a household budget and recording financial transactions

(b) Encourage transactions in savings accounts

(c) Active saving by depositing in banks through fixed deposits and recurring deposits

(d) All of the above is the aim of this drive

(e) Refers to the efficient and effective management of money (funds) in such a manner as to accomplish the objectives

S11. Ans.(d)
Sol. The Reserve Bank of India (RBI) is to launch a financial literacy drive in 80 blocks in nine states on the pilot basis to educate people on e-transactions, formal sector borrowings and insurance purchases. The pilot project, according to RBI will be commissioned in the 9 states of Maharashtra, Chhattisgarh, Bihar, Odisha, Karnataka, Telangana, Andhra Pradesh, Haryana and Uttar Pradesh by the 6 NGOs in collaboration with the sponsor Banks. The aim of this drive is to inculcate the habit of making a household budget and recording financial transactions, encourage transactions in savings accounts, and active saving by depositing in banks through fixed deposits and recurring deposits.

Q12. Senior Citizen Savings Scheme (SCSS) Account is an individual of the Age of ________ or more may open the account.

(a) 60 years

(b) 55 years 

(c) 70 years 

(d) 50 years 

(e) 65 years 

S12. Ans.(a)
Sol. Senior Citizen Savings Scheme (SCSS) Account- An individual of the Age of 60 years or more may open the account.

Q13. In the Fourth Bi-monthly Monetary Policy Statement 2017-18, the Monetary Policy Committee (MPC) has decided to keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at-? 

(a) 5.50 percent

(b) 5.75 percent

(c) 6.25 percent

(d) 6.50 percent

(e) 6.00 percent

S13. Ans.(e)
Sol. On the basis of an assessment of the current and evolving macroeconomic situation at its meeting, the Monetary Policy Committee (MPC) decided to keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.0 percent in the Fourth Bi-monthly Monetary Policy Statement 2017-18.

Q14. RBI has notified that P2P lending platforms need to be regulated and treated on par with Non-Banking Financial Companies (NBFCs). P2P stands for-

(a) Product-to-Product

(b) Peer-to-Peer

(c) Person-to-Person

(d) Primary-to-Primary

(e) Priority-to-Priority

S14. Ans.(b)
Sol. After a year or more of due-diligence, the RBI has notified that peer-to-peer (P2P) lending platforms need to be regulated and treated on par with non-banking financial companies (NBFCs). The final regulatory framework for P2P lenders is still awaited. Few important P2P lending platforms in India are LenDen Club, Faircent, Qbera, Lendbox, Rupaiya Exchange and Monexo.

Q15. Which among the following organisation has allowed Infrastructure Investment Trusts (InvITs) and Real Estate Investment Trusts (REITs) to raise capital by issuing debt securities?

(a) SIDBI

(b) IRDAI

(c) SEBI

(d) NABARD

(e) RBI

S15. Ans.(c)
Sol. The Securities and Exchange Board of India (SEBI) allowed Infrastructure Investment Trusts (InvITs) and Real Estate Investment Trusts (REITs) to raise capital by issuing debt securities. The move will help attract investors to the capital-starved property sector. In addition to allowing bond issuances, SEBI also introduced the concept of strategic investor for REITs, similar to InvITs.

Banking Awareness

Q1. The FATF is an inter-governmental body. FATF stands for-

(a) Financial Action Task Forum

(b) Financial Action Task Fund

(c) Financial Action Time Force

(d) Financial Agency Task Force

(e) Financial Action Task Force

S1. Ans.(e)

Sol. The Financial Action Task Force (FATF) is an inter-governmental body.

Q2. ___________ is used to describe small loans granted to low-income individuals that are excluded from the traditional banking system.

(a) Industries credit

(b) Micro credit

(c) Small credit

(d) Farmer credit

(e) None of the given options is true

S2. Ans.(b)
Sol. Microcredit is used to describe small loans granted to low income individuals that are excluded from the traditional banking system. It is part of the larger microfinance industry, which provides not only credit, but also savings, insurance, and other basic financial services to the poor. The term ‘micro’ stems from the relatively small amounts of money that are being borrowed or saved.

Q3. In which among the following year FATF was established?

(a) 1978

(b) 1982

(c) 1995

(d) 1989

(e) 1962

S3. Ans.(d)
Sol. The Financial Action Task Force (FATF) is an inter-governmental body established in 1989 by the Ministers of its Member jurisdictions.

Q4. Which year was declared as the 'International Year of Microcredit' by United Nations?

(a) 2002

(b) 2009

(c) 2005

(d) 2011

(e) 2000

S4. Ans.(c)
Sol. Year 2005 was declared as the 'International Year of Microcredit' by United Nations.

Q5. The market in which long-term securities such as stocks and bonds are bought and sold is commonly known as-

(a) Bullion Market

(b) Capital Market

(c) Bull Market

(d) Money Market

(e) None of the given options is true

S5. Ans.(b)
Sol. A capital market is a financial market in which long-term debt or equity-backed securities are bought and sold.

Q6. An Agreement to exchange one currency with another, at a specific rate of exchange is known as-

(a) Currency Swap

(b) ECB

(c) Base Rate

(d) Bank Rate

(e) Import-Export

S6. Ans.(a)
Sol. An Agreement to exchange one currency with another, at a specific rate of exchange is known as Currency Swap.

Q7. Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL) was established as its wholly owned subsidiary on-

(a) 1988

(b) 1992

(c) 2002

(d) 1995

(e) 1999

S7. Ans.(d)
Sol. Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL) was established by Reserve Bank of India (RBI) as its wholly owned subsidiary on 3rd February 1995 with a view to augmenting the production of bank notes in India to enable the RBI to bridge the gap between the supply and demand for bank notes in the country.

Q8. The BRBNMPL has been registered as a _____________ under the Companies Act 1956.

(a) Public Limited Company

(b) Foreign Limited Company

(c) Private Limited Company

(d) All of the above

(e) None of the given options is true

S8. Ans.(c)
Sol. The BRBNMPL has been registered as a Private Limited Company under the Companies Act 1956 with its Registered and Corporate Office situated at Bengaluru. The company manages 2 Presses one at Mysore in Karnataka and the other at Salboni in West Bengal. The present capacity for both the presses is 16 billion note pieces per year on a 2-shift basis.

Q9. Which of the following is an instrument used in India to facilitate the access to foreign money by Indian corporations and PSUs?

(a) Currency Swap

(b) ECB

(c) Base Rate

(d) Bank Rate

(e) NRO 

S9. Ans.(b)
Sol. External Commercial Borrowing(ECB) is an instrument used in India to facilitate the access to foreign money by Indian corporations and PSUs.

Q10. Where is the Corporate Office of Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL)?

(a) Mumbai

(b) Kochin

(c) Chennai

(d) Hyderabad

(e) Bengaluru

S10. Ans.(e)
Sol. The BRBNMPL has been registered as a Private Limited Company under the Companies Act 1956 with its Registered and Corporate Office situated at Bengaluru.

Q11. Which among the following international organisation has announced its approval to a $329 million loan to build access roads across 4,000 villages in Gujarat recently?

(a) OPEC

(b) IMF

(c) AIIB

(d) ADB

(e) World Bank

S11. Ans.(c)
Sol. China based Asian Infrastructure Investment Bank (AIIB) announced its approval to a $329 million loan to build access roads across 4,000 villages in Gujarat. The funds have been approved to construct road linkages for last-mile connectivity to schools and tribal areas in 33 districts of the state.

Q12. Takehiko Nakao is present president of-

(a) Asian Development Bank

(b) World Bank

(c) New Development Bank

(d) International Monetary Fund

(e) Asian Infrastructure Investment Bank

S12. Ans.(a)
Sol. Takehiko Nakao is present president of the Asian Development Bank.

Q13. Siemens AG opened its first digital factory in India, also the third globally after one each in Germany and China, as the industrial conglomerate pitches smart facilities to small and medium scale enterprises in the country. Siemens AG based in-

(a) Canada

(b) France

(c) China

(d) Germany

(e) Japan

S13. Ans.(d)
Sol. Siemens AG opened its first digital factory in India, also the third globally after one each in Germany and China, as the industrial conglomerate pitches smart facilities to small and medium scale enterprises in the country. Siemens AG is a German conglomerate company headquartered in Berlin and Munich and the largest industrial manufacturing company in Europe with branch offices abroad.

Q14. The Asian Development Bank (ADB) was conceived in the early __________ as a financial institution that would be Asian in character and foster economic growth and cooperation in one of the poorest regions in the world.

(a) 1950s

(b) 1960s

(c) 1940s

(d) 1970s

(e) 1980s

S14. Ans.(b)
Sol. The Asian Development Bank was conceived in the early 1960s as a financial institution that would be Asian in character and foster economic growth and cooperation in one of the poorest regions in the world.

Q15. Who is the present president of the Asian Infrastructure Investment Bank (AIIB)?

(a) Li Keqiang

(b) Wang Yi

(c) Xie Xuren 

(d) Lou Jiwei 

(e) Jin Liqun

S15. Ans.(e)
Sol. Jin Liqun is present president of the Asian Infrastructure Investment Bank (AIIB).