Banking Awareness,

Q1. Cash kept in the currency chest is owned by-
(a) Currency Chest branch bank
(b) State Bank of India
(c) Central Government
(d) Reserve Bank of India
(e) Finance Ministry

Q2. When more than one bank is allowing credit facilities to one party in coordination with each other under a formal arrangement, the arrangement is generally known as ___________
(a) Consortium
(b) Syndication
(c) Multiple Banking
(d) Participation
(e) None of the given options is true

Q3. What is the minimum amount of deposit into/withdrawal from currency chest?
(a) Rs.5, 00,000
(b) Rs.1, 50,000
(c) Rs.2, 00,000
(d) Rs.3, 00,000
(e) Rs.1, 00,000

Q4. What is the maximum period for which a term deposit can be normally opened?
(a) 8 years
(b) 7 years
(c) 9 years
(d) 10 years
(e) 12 years

Q5. DICGC guarantees amount up to _____________ per depositor per bank.
(a) Rs.1, 00,000
(b) Rs.1, 50,000
(c) Rs.2, 00,000
(d) Rs.3, 00,000
(e) None of the given options is true

Q6. Which of the following institutions do not hold a banking license?
(a) Small Banks
(b) Foreign Banks
(c) Commercial Banks
(d) NBFCs
(e) Private Banks

Q7. What is the full form of FATCA?
(a) Forex Account Tax Compliance Act
(b) Foreign Account Tax Compliance Act
(c) Forex Account Total Compliance Act
(d) Foreign Account Total Compliance Act
(e) None of the given options is true

Q8. What is the minimum initial deposit required for opening a Basic Savings Bank Deposit Account (BSBDA)?
(a) Rs 500
(b) Rs 1000
(c) Rs 100
(d) No initial deposit
(e) Rs 200

Q9. Who among the following decides the volume and value of bank notes to be printed in India?
(a) RBI
(b) SBI
(c) Security Printing and Minting Corporation of India
(d) All of the Above
(e) None of the given options is true

Q10. In which of the following fund transfer mechanisms, can funds be moved from one bank to another and where the transaction is settled instantly without being bunched with any other transaction?
(a) RTGS
(b) NEFT
(c) TT
(d) EFT
(e) None of the given options is true

Q11. A worldwide financial messaging network which exchanges messages between banks and financial institutions is known as _________
(a) SWIFT
(b) Basel
(c) RTGS
(d) NEFT
(e) AIIB

Q12. Which of the following is not a ‘Money Market Instrument’?
(a) Treasury Bills
(b) Commercial Paper
(c) Certificate of Deposit
(d) Equity Shares
(e) None of the given options is true

Q13. When there is a difference between all receipts and expenditure of the Govt. of India, both capital and revenue it is called _______
(a) Income Deficit
(b) Fiscal Deficit
(c) Budgetary Deficit
(d) All of the Above
(e) None of the given options is true

Q14. With reference to a cheque which of the following is the ‘drawee bank’?
(a) The bank that collects the cheque
(b) The payee’s bank
(c) The endorser’s bank
(d) The bank upon which the cheque is drawn
(e) None of the given options is true

Q15. Banks issue a letter to beneficiary on behalf of its constituents like guarantee for making payment on their behalf on fulfillment of its terms and conditions. What is this arrangement known in banking context?
(a) Line of Credit
(b) Loan to Client
(c) Loan on Credit
(d) Letter of Credit
(e) None of the given options is true

Solutions

S1. Ans.(d)
Sol. To facilitate the distribution of banknotes and rupee coins, the Reserve Bank has authorized select branches of scheduled banks to establish currency chests. These are actually storehouses where banknotes and rupee coins are stocked on behalf of the Reserve Bank.

S2. Ans.(a)
Sol. In the financial or banking world, a consortium refers to several lending institutions that group together to jointly finance a single borrower.

S3. Ans.(e)
Sol. The minimum amount of deposit into/withdrawal from currency chest will be Rs.1,00,000/- and thereafter,
in multiples of Rs.50,000.

S4. Ans.(d)
Sol. The tenure of an Fixed Deposit or Term Deposit can vary from 7, 15 or 45 days to 1.5 years and can be as high as 10 years.

S5. Ans.(a)
Sol. DICGC guarantees amount up to Rs. 1, 00,000 per depositor per bank.

S6. Ans.(d)
Sol. Non-banking financial companies, or NBFCs, are financial institutions that provide banking services, but do
not hold a banking license. These institutions are not allowed to take deposits from the public.

S7. Ans.(b)
Sol. The Foreign Account Tax Compliance Act (FATCA), which was passed as part of the HIRE Act, generally requires that foreign financial Institutions and certain other non-financial foreign entities report on the foreign assets held by their U.S. account holders or be subject to withholding on withhold able payments.

S8. Ans.(d)
Sol. There is no requirement for any initial deposit for opening a BSBDA.

S9. Ans.(a)
Sol. The Reserve Bank of India (RBI) based on the demand requirement indicates the volume and value of banknotes to be
printed each year to the Government of India which get finalised after mutual consultation.

S10. Ans.(a)
Sol. In RTGS, the beneficiary branches are expected to receive the funds in real time as soon as funds are transferred by the remitting bank. The beneficiary bank has to credit the beneficiary’s account within 30 minutes of receiving the funds transfer message.

S11. Ans.(a)
Sol. Society for Worldwide Interbank Financial Telecommunication (SWIFT) code . An internationally-recognized identification code for banks around the world. SWIFT codes are most commonly used for international wire transfers and are comprised of 8 or 11 alphanumeric characters.

S12. Ans.(d)
Sol. There are several money market instruments, including treasury bills, commercial paper, bankers’ acceptances, deposits, certificates of deposit, bills of exchange, repurchase agreements.

S13. Ans.(c)
Sol. A budget deficit occurs whenever a government spends more than it makes, which is nearly every year. Budgetary deficit is the difference between all receipts and expenses in both revenue and capital account of the government.

S14. Ans.(d)
Sol. Drawee is a legal and banking term used to describe the party that has been directed by the depositor to pay a certain sum of money to the person presenting the check or draft. A typical example is if you are cashing a paycheck.

S15. Ans.(d)
Sol. A letter of credit is a letter from a bank guaranteeing that a buyer's payment to a seller will be received on time and for the correct amount. In the event that the buyer is unable to make payment on the purchase, the bank will be required to cover the full or remaining amount of the purchase.

QUIZ-26

Q1. Nepal Prime Minister Pushpa Kamal Dahal 'Prachanda' has recently resigned from the post. Who is the current President of Nepal?

(a) Ram BaranYadav

(b) Bidhya Devi Bhandari

(c) KulBahadurGurung

(d) SushmaRajdulari

(e) SherBahadurDeuba

Q2. The Cabinet has recently approved MoU between India which one of the following countries on cooperation in the field of Organ Transplant Services?
(a) Germany
(b) Bangladesh
(c) Spain
(d) Austria
(e) Russia

Q3. Which of the following Indian peacekeeper/s was/were among 117 military, police and civilian personnel honoured by the United Nations with a prestigious UN medal awarded posthumously for courage and sacrifice in the line of duty?
(a) BrijeshThapa
(b) Ravi Kumar
(c) ManojPandey
(d) Both (a) and (c)
(e) Both (a) and (b)

Q4. The Human Resource Development (HRD) Ministry and the External Affairs Ministry have recently launched an online verification portal named _______________ to make the document verification process easier for students who are planning to study abroad.
(a) e-certificate
(b) e-sanad
(c) e-documentation
(d) e-verification
(e) e-halafnama

Q5. Which of the following organisation/s has/have won the Porter Prize 2017?
(a) EDII, Gujarat
(b) ITC Ltd
(c) Godrej
(d) Both (a) and(b)
(e) Both (a) and(c)

Q6. The cabinet chaired by PM of India has recently approved the Setting up of new All India Institute of Medical Sciences (AIIMS) in which of the following Indian states?
(a) Manipur
(b) Jharkhand
(c) Assam
(d) Odisha
(e) Telangana

Q7. State-owned BSNL has recently started satellite phone service through INMARSAT which will be initially offered to government agencies and later opened for others citizen in phased manner. INMARSAT is abbreviated as ____________________.
(a) International Maritime Satellite
(b) International Marine Space
(c) Internal Maritime Sanchalan
(d) International Maritime Sanchalan
(e) International Maritime Sampadan

Q8. Which of the following Indian Organisation has recently signed anMoU with Madhya Pradesh government to collaborate on the development of a Happiness Index for measuring the well-being of the people of the state?
(a) IIT-Madras
(b) IIT-Kharagpur
(c) IISc-Bengalore
(d) IIT-Roorkee
(e) Madhya Pradesh University

Q9. Which of the following Player has recently won the coveted International Cricketer of the Year award at the CEAT Cricket Rating (CCR) International awards 2017?
(a) ViratKohli
(b) Joe Root
(c) M S Dhoni
(d) RavichandranAshwin
(e) RavindraJadeja

Q10. Name the newly appointed Ecuador's president.
(a) Noboa y Arteta
(b) Francisco Robles
(c) Lenin Moreno
(d) Juan Jose Flore
(e) Vicente Ramon

Solutions

S1. Ans.(b)

Sol. Nepal Prime Minister Pushpa Kamal Dahal 'Prachanda' has resigned paving way for Nepali Congress President SherBahadurDeuba to become the next Prime Minister. Bidhya Devi Bhandari is the President of Nepal.

S2. Ans.(c)

Sol. The Cabinet has recently approved MoU between Spain and India on cooperation in the field of Organ Transplant Services.

S3. Ans.(e)

Sol. Two Indian peacekeepers Rifleman BrijeshThapa and Ravi Kumar were among 117 military, police and civilian personnel honoured by the United Nations with a prestigious UN medal awarded posthumously for courage and sacrifice in the line of duty. They received the Dag Hammarskjöld Medal on the Occasion of International Day of UN Peacekeepers which was observed recently.

S4. Ans.(b)

Sol. The Human Resource Development (HRD) Ministry and the External Affairs Ministry launched an online verification portal 'e-sanad' to make the document verification process easier for students who planning to study abroad.

S5. Ans.(d)

Sol. Entrepreneurship Development Institute of India (EDII), Gujarat and ITC Ltd have won the Porter Prize 2017. ITC bags for Excellence in Corporate Governance and Integration and for its contribution in Creating Shared Value.

S6. Ans.(c)

Sol. The cabinet chaired by PM of India has recently approved the Setting up of new AIIMS in Kamrup, Assam.

S7. Ans.(a)

Sol. State-owned BSNL has recently started satellite phone service through INMARSAT which will be initially offered to government agencies and later opened for others citizen in phased manner. INMARSAT full form is International Maritime Satellite.

S8. Ans.(b)

Sol. Indian Institute of Technology (IIT) Kharagpur'sRekhi Centre of Excellence for the Science of Happiness has signed anMoU with Madhya Pradesh government to collaborate on the development of a Happiness Index for measuring the well-being of the people of the state.

S9. Ans.(d)

Sol. India off-spinner RavichandranAshwinwon the coveted International Cricketer of the Year award at the CEAT Cricket Rating (CCR) International awards 2017. The award was presented to Ashwin by former India skipper Sunil Gavaskar and Harsh Goenka, Chairman of RPG Enterprises, at a function held at the Cricket Club of India.

S10. Ans.(c)

Sol. Lenin Moreno was sworn in as Ecuador's president following a tight electoral race that the former vice president won on promises of maintaining the social programs of his leftist predecessor, Rafael Correa. The 64-year-old Moreno, a socialist, last month won a runoff vote in the oil-exporting country, bucking a shift to the right in South America as leftist governments struggle to maintain support.

New Pattern English

Directions (1-15): In each question below, the word at the top of the question is used in four different ways. Choose the option in which the usage of the word is INCORRECT or INAPPROPRIATE.

Q1. ENTER

(a) He was assigned the task of entering the names of all eligible voters. 

(b) She decided to enter her child into the best school in the neighborhood.

(c) His parents advised him to acquire an MBA before entering upon a career.

(d) When money is involved other considerations should not enter.

(e) All sentences are correct.

Q2. WITHDRAW

(a) The steno was asked to withdraw the offending words from the letter she typed.

(b) The college withdrew his academic credit after it was established that he had copied in the test.

(c) The minister withdrew his name from the list of nominees.

(d) After the loss of her husband she had withdrawn farther and farther into herself.

(e) All sentences are correct.

Q3. DRAW

(a) People are afraid that the festival will draw undesirable elements to the town.

(b) The deposits are expected to draw interest close to 10 percent.

(c) The teacher drew the children into the room to see the pictures.

(d) To avoid confusion later, a list was drawn of all those who would attend the function.

(e) All sentences are correct.

Q4. STACK

(a) There were stacks of books on the bedside table and floor.

(b) The committee is stacked with members from energy-producing states.

(c) She is continually stacked by headaches.

(d) The convict tried to stack the jury.

(e) All sentences are correct.

Q5. DEVOLVE

(a) His death devolved the end of an era in superlative cinematic techniques.

(b) The senator devolved the duties of office upon a group of aides.

(c) The estate devolved to an heir that everybody had assumed to be dead.

(d) After several hours the discussion had devolved into a shouting match.

(e) All sentences are correct.

Q6. DESIST

(a) Kindly desist from making so much noise.

(b) He desisted further efforts to dissuade them.

(c) Before the medical exam you must desist from food.

(d) During Ramadan, Muslims desist from smoking during the day.

(e) All sentences are correct.

Q7. DISSIPATE

(a) The wind finally dissipated the smoke.

(b) The industrious people from Gujarat are dissipated over the whole of India.

(c) The young sometimes seem to dissipate their energy in useless pursuits.

(d) The dark clouds which threatened rain finally dissipated.

(e) All sentences are correct.

Q8. EVINCE

(a) She evinced her approval by smiling.

(b) The man who was caught stealing did not evince any remorse.

(c) The proposal evinced a storm of protest from the members.

(d) She did not evince the least surprise at seeing me there.

(e) All sentences are correct.

Q9. DECOY

(a) He acted as a decoy to draw the dogs’ attention away from the children.

(b) The policewoman acted as a decoy when the police were trying to catch the murderer.

(c) The bird-trap was empty as he had caught a decoy, and he had to kill it.

(d) They used flares to decoy enemy missiles.

(e) All sentences are correct.

Q10. FEIGN

(a) She feigned illness to avoid going to the party.

(b) The politician feigned the attention of his listeners to non-controversial issues.

(c) On the phone, he feigned his sister’s voice and said that he was not at home.

(d) She introduced me as her cousin, and everyone feigned to believe it.

(e) All sentences are correct.

Q11. INDICT

(a) They were indicted for conspiracy and spent a year in jail.

(b) In Bosnia, US troops have usually declined to take part in the arrest of indicted war criminals.

(c) Last week, he was indicted by a grand jury.

(d) The critics have the right to praise or indict a literary work.

(e) All sentences are correct.

Q12. RAMBLE

(a) Where would American cinema be without the car ramble or the road movie?

(b) Avoid long rambling sentences, jargon or unexplained acronyms.

(c) We have tours to suit all levels of ability from a gentle ramble to a Himalayan expedition.

(d) The internet forum gives you an opportunity to ramble on a bit.

(e) All sentences are correct.

Q13. TRANSIT

(a) Electric cars are a nice idea, but they won’t work for mass transit or cargo.

(b) Passengers holding a direct airside transit visa will not be able to pass through immigration control.

(c) The transit of the property into the parties’ joint names was irrelevant.

(d) Mumbai and Delhi are building the infrastructure for rapid transit systems.

(e) All sentences are correct.

Q14. PLACATE

(a) The regulations imposed in the West to placate environmental opposition to GM foods effectively prevent the Third World from developing GM foods.

(b) The facts are incorrect and they have placated members of all political parties across the country.

(c) However, his statement did little to placate the unions who say that even negotiations cannot help in this matter.

(d) The government has a greater imperative to placate the farming lobby than protecting wildlife because of its political leverage.

(e) All sentences are correct.

Q15. ABDICATE

(a) People have decided to ask the King to abdicate in favour of his son.

(b) We cannot abdicate the responsibility to deal with these acts in the correct manner.

(c) Our people have opted for democracy as a way of life from which we will not abdicate.

(d) People wonder whether computer programmes will abdicate the role of the human brain.

(e) All sentences are correct.

Solutions

S1. Ans.(b)

Sol. ‘to enter her child into the best school’ this phrase is incorrect in terms of usage. In all other sentences, the usage of the word ‘enter’ is correct.

S2. Ans.(a)

Sol. ‘to withdraw the offending words from the letter she typed’ the use of the word ‘withdraw’ is incorrect in this sentence.

S3. Ans.(d)

Sol. In sentence D, the word ‘draw’ is incorrectly used.

S4. Ans.(c)

Sol. In sentence C, the use of the word STACK is inappropriate.

S5. Ans.(a)

Sol. DEVOLVE-transfer or delegate (power) to a lower level, especially from central government to local or regional administration.

pass into (a different state, especially a worse one); degenerate.

In sentence A, The word ‘DEVOLVE’ is incorrectly used. In other sentence, DEVOLVE is correctly used.

S6. Ans.(b)

Sol. DESIST-stop doing something; cease or abstain. In sentence B, the word DESIST is incorrectly used.

S7. Ans.(b)

Sol. DISSIPATE-(with reference to a feeling or emotion) disappear or cause to disappear. The word DISSIPATE is incorrectly used in sentence B.

S8. Ans.(c)

Sol. EVINCE-reveal the presence of (a quality or feeling); indicate. The word ‘’evince’ is incorrectly used in option C.

S9. Ans.(c)

Sol. DECOY- lure or entice (a person or animal) away from their intended course, typically into a trap. According to the meaning of the word ‘decoy’, the usage in sentence C is incorrect.

S10. Ans.(b)

Sol. FEIGN-pretend to be affected by (a feeling, state, or injury). The word feign is incorrectly used in the sentence B.

S11. Ans.(d)

Sol. INDICT-formally accuse of or charge with a crime. The word ‘indict’ is incorrectly used in option D.

S12. Ans.(a)

Sol. RAMBLE-talk or write at length in a confused or inconsequential way. 

a walk taken for pleasure in the countryside. The word ‘ramble’ is incorrect in option A.

S13. Ans.(c)

Sol. TRANSIT-the action of passing through or across a place.

the carrying of people or things from one place to another. The word ‘transit’ is incorrect in sentence C.

S14. Ans.(b)

Sol. PLACATE-make (someone) less angry or hostile. The word ‘placate’ is incorrect in sentence B.

S15. Ans.(d)

Sol. ABDICATE-(of a monarch) renounce one's throne.

fail to fulfil or undertake (a responsibility or duty). ‘abdicate’ is incorrectly used in option D.

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1. ఏ భారతీయ వ్యక్తిత్వ 2017-2021 మధ్య కాలానికి FIFA యొక్క ఫైనాన్స్ కమిటీ నూతన        సభ్యునిగా నియమితులయ్యారు?--------------------ప్రఫుల్ పాటిల్.

2. "FI@ స్కూల్" అనే  కార్యక్రమం పాఠశాల పిల్లలలో ఆర్థిక అక్షరాస్యత ప్రచారం కోసం ఏ  గ్రామీణ బ్యాంకు  ప్రారంభించింది?------------------కేరళ గ్రామీణ బ్యాంకు .

3.  ఏ భారతీయ వ్యక్తిత్వ 2017 మిస్ యూనివర్స్ పోటీలో న్యాయమూర్తి అవుతుంది?------------------------------సుష్మిత సేన్ .

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5. ఏ బ్యాంకు ముట్టుకోకుండా పనిచేసే క్రెడిట్ కార్డు ను ప్రారంభించింది ?------------పంజాబ్ నేషనల్ బ్యాంకు.

6. పంజాబ్ నేషనల్ బ్యాంకు యొక్క సీఈఓ ఎవరు ?----------------ఉషా అనంతసుబ్రమణియన్.

7. మలేషియా మాస్టర్స్ గ్రాండ్ ప్రిక్స్ లో బంగారు పతాకం గెలుచుకున్నది ఎవరు ?-------------సైనా నెహ్వాల్.

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