#everydayquiz #30Q
81. Special drawing rights (SDRs) are international foreign
exchange reserve assets issued byA. World Bank B.WTO
C. ADB D. IMF
E. None of these
Answer (D) The Special Drawing Right (SDR) is an
international reserve asset, created by the
International Monetary Fund (IMF) in 1969 to
supplement the existing official reserves of member
countries.
82. In Deposits Account “KYC” (Know Your Customer) has
been implemented in 2002 as per directive of –
A. IBA B. RBI
C. Ministry of Finance D.SEBI
E. IRDAA
Answer (B) KYC means “Know Your Customer”. It is a
process by which banks obtain information about the
identity and address of the customers. KYC has been
implemented in 2002 as per directive of Reserve Bank
of India.
83. Which of the following indexes used as the key measure
of inflation in India?
A. Wholesale Price Index
B. Consumer Price Index
C. Sensex and Nifty
D. Interest rate offered by banks on deposits
E. None of these
Answer (B) The Central Bank of India (RBI) had
adopted the new Consumer Price Index (CPI) as the
key measure of inflation. Earlier, RBI had given more
weightage to Wholesale Price Index (WPI) than CPI
as the key measure of inflation for all policy purposes.
84. A major Public Sector Bank has decreased the interest
rates on loans by 25 basis points – was news in some
major financial newspaper recently. This means bank
has decreased interest rate by 25 basis points of ___.
A. Saving Bank Interest Rate
B. Base Lending Rate
C. Repo Rate
D. Present Rate on Deposits
E. Discounted Rates of Interest
Answer (B) RBI has reduced the policy rate by 75
basis points since the beginning of this calendar year
while most banks have reduced base lending rates by
just 25 basis points.
85. What is the rank of India in the World Bank's 'Ease of
Doing Business 2015' report?
A. 134 B. 141
C. 130 D. 135
E. 145
Answer (C) India is ranked 130 among 189 nations
in the World Bank's 'Ease of Doing Business 2015'
report.
86. Which among the following was the venue for the Asian
Banker Summit 2015?
A. Hong Kong B. Shanghai
C. New Delhi D. Dhaka
E. None of these
Answer (A) The 16th Asian Banker Summit was held in
Hong Kong. The Asian Banker Summit, is the region’s
largest annual meeting of global thought leaders and
senior industry practitioners, it is the foremost forum
for engaging on global themes bringing together global
thought leaders and industry specialists.
87. Who among the following names as the first President
of New Development Bank of BRICS nations?
A. Arun Poorie B. Deepak Parekh
C. KV Kamath D. Indra Nooyi
E. Ravi Khanna
Answer (C) K. V. Kamath appointed as the first head
of the new development bank the BRICS group.
88. According to the Moody's Investors Service, India ranks
among the top five sovereign debt issuers from the
emerging economies as of end-2014. What is the rank
of India in the list?
A. First B. Second C. Third
D. Fourth E. Fifth
Answer (B) India ranks among the top five sovereign
debt issuers from the emerging economies after China,
said Moody's Investors Service. "The top five largest
sovereign EM (emerging market) debt issuers, as of
end-2014, were
1. China (with $3.5 trillion total sovereign debt
outstanding),
2. India ($1.3 trillion),
3. Brazil ($1.2 trillion),
4. Mexico ($387.5 billion) and
5. Turkey ($265.5 billion),".
89. Recently, global financial services firm Morgan Stanley
has revised the India FY16 growth outlook to ___ from
7.9%
A. 7.6% B. 7.5% C. 7.3%
D. 7.1% E. 6.5%
Answer (B) Morgan Stanley revises FY16 growth
outlook to 7.5% from 7.9%.
90. As far as commitments to invest in India, United Arab
Emirates (UAE) has promised to invest how much
billion dollar in Infrastructure Investment Fund?
A. $35-billion B. $41 billion
C. $20 billion D. $50 billion
E. $75-billion
Answer (E) As far as commitments to invest in India,
in the past year, the US has committed $41 billion,
Japan has laid out a $35-billion plan, China $20
billion, and now the biggest of all, $75 billion, has
been promised by the United Arab Emirates (UAE) as
its investment target for India.
91. The government and the Reserve Bank have reached a
consensus on the structure for the proposed MPC and
Public Debt Management Agency (PDMA), on deciding
on interest rate on advice of technical advisory
committee. What is the expand form of MPC?
A. Monetary Policy Control
B. Management Public Committee
C. Monetary Policy Committee
D. Market Policy Company
E. None of these
Answer (C) The government and the Reserve Bank
have reached a consensus on the structure for the
proposed Monetary Policy Committee and Public
Debt Management Agency.
92. The SARFAESI Act 2002 empowers Banks / Financial
Institutions to recover their non-performing assets
(bad loans) without the intervention of the Court. In
“SARFAESI” second “S” stands for ____.
A. Securitisation B. Security
C. Statutory D. Share
E. Saving
Answer (B) In “SARFAESI” second “S” stands for –
Security. The Securitisation and Reconstruction of
Financial Assets and Enforcement of Security Interest
Act, 2002 (SARFAESI) empowers Banks / Financial
Institutions to recover their non-performing assets
(bad loans) without the intervention of the Court.
93. The Reserve Bank of India (RBI) doubled the limit for
cash withdrawal at points of sale (PoS) in tier III to VI
cities to____.
A. Rs. 1000 B. Rs. 2000 C. Rs. 4000
D. Rs. 6000 E. Rs. 10,000
Answer (B) The Reserve Bank of India (RBI) doubled
the limit for cash withdrawal at points of sale (PoS) in
tier III to VI cities from Rs1,000 to Rs2,000 per day.
The facility will be available for debit cards and open
system pre-paid cards issued by banks. The limit
remains unchanged at Rs1,000 per day for tier I and
II cities.
94. The mobile banking app “LIME” has been launched by
which of the following banks?
A. SBI B. HDFC C. ICICI
D. PNB E. AXIS
Answer (E) The mobile banking app “LIME” has been
launched by Axis Bank. The app will allow customers
in both account and non-account holders to compare
and shop, split bills, transfer money and even share
their mobile banking wallets. This app can also be used
to pool money to buy gifts or for group travel by
friends.
95. Many a times we read in the newspapers that RBI has
changed or revised a particular ratio/rate by a few
basis points. What is basis point?
A. Ten per cent of one hundredth point
B. One hundredth of 1%
C. One hundredth of 10%
D. Ten per cent of 1000
E. None of these
Ans (B) Basis points - One hundredth of one
percentage point (used chiefly in expressing
differences of interest rates).
96. India's first fast reactor fuel reprocessing plant to be
built at which state?
A. Andhra Pradesh B. Gujarat
C. Tamil Nadu D. Chennai
E. Rajasthan
Answer (C) The foundation for India's first fast reactor
fuel reprocessing plant to be built at a cost of Rs 9,600
crore is expected to be laid in two months' time at
Kalpakkam in Tamil Nadu.
97. The 8th edition of Global Innovation Index (GII) 2015
was released jointly by Cornell University, INSEAD and
the World Intellectual Property Organization (WIPO).
What is the rank of India in the index?
A. 64 B. 76 C. 81
D. 95 E. 101
Answer (C) India's ranking has slipped further to 81
in the list, compared to 76 in 2014, but it remained at
the top of the regional ranking of Central and Southern
Asia. Switzerland, the United Kingdom, Sweden, the
Netherlands and the United States of America are the
world’s five most innovative nations.
98. Recently, G-20 group has launched the “Women-20
(W20)” group to empower women. The first Women-20
(W20)”summit 2015 will be held in ____.
A. Istanbul B. Ankara
C. Indonesia D. Beijing
E. Tokyo
Answer (A) To promote global gender-inclusive
economic growth, the Group of Twenty (G20) launched
Women-20 (W20) group. The first W20 summit 2015
will held on October 7-8, 2015 at Istanbul, Turkey.
Ms. Gulden Turktan from Turkey has been appointed
as the first President of W20 forum.
99. Reserve Bank of India (RBI) declared State Bank of
India (SBI) and ICICI Bank as D – SIBs. What is the
expand form as D – SIBs?
A. Domestic Security Internal Banks
B. Domestic Systemically Initial Banks
C. Domestic Systemically Important Banks
D. Demand Systemically Individual Banks
E. Deposit Systemically Interest Banks
Answer (C) The Reserve Bank of India (RBI) declared
State Bank of India (SBI) and ICICI Bank as Domestic
Systemically Important Banks (D- SIBs).
100. National Institution for Transforming India (NITI)
Aayog has launched the open source web based tool by
which name?
A. IESS 2050 B. IESS 2047
C. IESS 2036 D. IESS 2022
E. IESS 2019
Answer (B) The second version of an open source web
based tool, India Energy Security Scenarios 2047
calculator (IESS 2047) has been launched by the
National Institution for Transforming India (NITI)
Aayog.
101. According to the Socio Economic and Caste Census
(SECC) which among the following states in India has
highest per cent of Urban BPL households?
A. Bihar B. Uttar Pradesh
C. Manipur D. Jharkhand
E. Sikkim
Ans (C) The highest fraction of Urban Poors are in
Manipur (54.95% of its total population), Mizoram
(52.35% of its total population and Bihar (49.82 per
cent). On the other hand, least proportion of Urban
poor in India are in Goa (16%) and UTs of D&NH and
Delhi (8% each of their population).
102. Union Government has decided to set up a Bank Board
Bureau (BBB) to monitor key performance indicators of
two dozen public sector banks (PSBs). BBB will start
functioning from ___.
A. 31 December 2015 B. 1
st
January 2016
C. 31
st
March 2016 D. 1
st
April 2016
E. 1
st
June 2016
Ans (D) Bank Board Bureau (BBB) will start the
functioning from next financial year i.e. from 1st April
2016.
103. Which among the following banks has launched
country’s first MUDRA (Micro Units Development and
Refinance Agency) card under the Pradhan Mantri
MUDRA Yojana (PMMY)?
A. SBI B. PNB
C. Canara Bank D. Corporation Bank
E. Bank of Baroda
Ans (D) Corporation Bank launched country’s first
MUDRA (Micro Units Development and Refinance
Agency) card under the Pradhan Mantri MUDRA Yojana
(PMMY) in Mangalore, Karnataka.
104. India and United States have signed Inter
Governmental Agreement to implement the FATCA.
This agreement will promote transparency on tax
matters. Expand the term FATCA.
A. Financial Account Tax Compliance Act
B. Foreign Account Trade Company Act
C. Foreign Account Tax Compliance Act
D. Fiscal Account Tax Compliance Act
E. None of these
Ans (C) India and United States have signed Inter
Governmental Agreement to implement the Foreign
Account Tax Compliance Act (FATCA). This agreement
will promote transparency on tax matters.
105. Which among the following statements are correct/s
in the context with Payment Banks?
A. The minimum paid-up capital requirement for
payments banks is Rs. 100 crore
B. Payment banks will offer both deposits as well as
loan products.
C. Payments banks will have to invest in government
securities with a maturity of up to 1 year
D. Payments banks can open small savings accounts
and accept deposits of up to Rs.1 lakh per individual
customer.
(1) A, C, D (2) B, C, D
(3) A, B, C (4) A, B, D
(5) All are true
Ans (1) A, C, D The main objective of payment banks is
to increase financial inclusion in the country via a
primary focus on domestic payments services by
providing small savings accounts.
Note: Payments banks will be used only for
transaction and deposits purposes. Unlike Small
banks, payments banks cannot offer loan products to
the customers.
106. Union Government has launched Indradhanush
Mission to revamp functioning of public sector banks
(PSBs). How many pronged plan has been classified in
Indradhanush Mission?
A. Six B. Five
C. Seven D. Four
E. Eight
Ans (C) Union Government has launched a seven
pronged plan called Indradhanush Mission to revamp
functioning of public sector banks (PSBs). It was
launched by Union Finance Minister Arun Jaitley in
New Delhi.
The seven shades of Indradhanush mission include (i)
appointments, (ii) Bank Board Bureau (BBB), (iii)
capitalisation (iv) de-stressing PSBs, (v)
empowerment, (vi) framework of accountability and
(vii) governance reforms.
107. Recently, Asian Development lowered India’s Growth
Forecast for 2016 from 7.8% to _____.
A. 7.6% B. 7.5%
C. 7.4% D. 7.3%
E. None of these
Answer (C) Asian Development Bank (ADB) had
lowered India’s gross domestic (GDP) growth
projections for the fiscal year (FY) 2016 to 7.4 percent
from 7.8 percent projected in its March 2015 Outlook.
For FY2015, Indian economy growth is forecasted at
7.8 percent which is lower than the earlier forecast of
8.2 percent.
108. The Employees Provident Fund Organisation (EPFO)
increased the life insurance cover of its subscribers
from 3.6 lakh to _____.
A. 6 lakh B. 5 lakh
C. 5.5 lakh D. 4 lakh
E. None of these
Answer (A) The Employees Provident Fund
Organisation (EPFO) on 16 September 2015 increased
the life insurance cover of its subscribers from 3.6
lakh to 6 lakh rupees. About 40 million contributing
members of the EPFO will be benefitted from the
decision taken at the 208th CBT meeting in Hyderabad.
109. What is the full form of CVV?
A. Credit Verification Value
B. Currency Verification Variable
C. Customer Verification Value
D. Card Verification Value
E. None of these
Answer (D) Full form of CVV is - "Card Verification
Value" on your credit card or debit card is a 3 digit
number on VISA, MasterCard etc.
110. The selling of life assurance and other insurance
products and services by banking institution is known
as ____.
A. Insurance cover B. Bancassurance
C. Protection cover D.Assurance cover
E. None of these
Answer (B) The selling of life assurance and other
insurance products and services by banking institution
is known as Bancassurance.
#SSC #IBPS #SBI #RBI #NABARD #NICL #NIACL #CAT #NMAT #everydayquiz
81. Special drawing rights (SDRs) are international foreign
exchange reserve assets issued byA. World Bank B.WTO
C. ADB D. IMF
E. None of these
Answer (D) The Special Drawing Right (SDR) is an
international reserve asset, created by the
International Monetary Fund (IMF) in 1969 to
supplement the existing official reserves of member
countries.
82. In Deposits Account “KYC” (Know Your Customer) has
been implemented in 2002 as per directive of –
A. IBA B. RBI
C. Ministry of Finance D.SEBI
E. IRDAA
Answer (B) KYC means “Know Your Customer”. It is a
process by which banks obtain information about the
identity and address of the customers. KYC has been
implemented in 2002 as per directive of Reserve Bank
of India.
83. Which of the following indexes used as the key measure
of inflation in India?
A. Wholesale Price Index
B. Consumer Price Index
C. Sensex and Nifty
D. Interest rate offered by banks on deposits
E. None of these
Answer (B) The Central Bank of India (RBI) had
adopted the new Consumer Price Index (CPI) as the
key measure of inflation. Earlier, RBI had given more
weightage to Wholesale Price Index (WPI) than CPI
as the key measure of inflation for all policy purposes.
84. A major Public Sector Bank has decreased the interest
rates on loans by 25 basis points – was news in some
major financial newspaper recently. This means bank
has decreased interest rate by 25 basis points of ___.
A. Saving Bank Interest Rate
B. Base Lending Rate
C. Repo Rate
D. Present Rate on Deposits
E. Discounted Rates of Interest
Answer (B) RBI has reduced the policy rate by 75
basis points since the beginning of this calendar year
while most banks have reduced base lending rates by
just 25 basis points.
85. What is the rank of India in the World Bank's 'Ease of
Doing Business 2015' report?
A. 134 B. 141
C. 130 D. 135
E. 145
Answer (C) India is ranked 130 among 189 nations
in the World Bank's 'Ease of Doing Business 2015'
report.
86. Which among the following was the venue for the Asian
Banker Summit 2015?
A. Hong Kong B. Shanghai
C. New Delhi D. Dhaka
E. None of these
Answer (A) The 16th Asian Banker Summit was held in
Hong Kong. The Asian Banker Summit, is the region’s
largest annual meeting of global thought leaders and
senior industry practitioners, it is the foremost forum
for engaging on global themes bringing together global
thought leaders and industry specialists.
87. Who among the following names as the first President
of New Development Bank of BRICS nations?
A. Arun Poorie B. Deepak Parekh
C. KV Kamath D. Indra Nooyi
E. Ravi Khanna
Answer (C) K. V. Kamath appointed as the first head
of the new development bank the BRICS group.
88. According to the Moody's Investors Service, India ranks
among the top five sovereign debt issuers from the
emerging economies as of end-2014. What is the rank
of India in the list?
A. First B. Second C. Third
D. Fourth E. Fifth
Answer (B) India ranks among the top five sovereign
debt issuers from the emerging economies after China,
said Moody's Investors Service. "The top five largest
sovereign EM (emerging market) debt issuers, as of
end-2014, were
1. China (with $3.5 trillion total sovereign debt
outstanding),
2. India ($1.3 trillion),
3. Brazil ($1.2 trillion),
4. Mexico ($387.5 billion) and
5. Turkey ($265.5 billion),".
89. Recently, global financial services firm Morgan Stanley
has revised the India FY16 growth outlook to ___ from
7.9%
A. 7.6% B. 7.5% C. 7.3%
D. 7.1% E. 6.5%
Answer (B) Morgan Stanley revises FY16 growth
outlook to 7.5% from 7.9%.
90. As far as commitments to invest in India, United Arab
Emirates (UAE) has promised to invest how much
billion dollar in Infrastructure Investment Fund?
A. $35-billion B. $41 billion
C. $20 billion D. $50 billion
E. $75-billion
Answer (E) As far as commitments to invest in India,
in the past year, the US has committed $41 billion,
Japan has laid out a $35-billion plan, China $20
billion, and now the biggest of all, $75 billion, has
been promised by the United Arab Emirates (UAE) as
its investment target for India.
91. The government and the Reserve Bank have reached a
consensus on the structure for the proposed MPC and
Public Debt Management Agency (PDMA), on deciding
on interest rate on advice of technical advisory
committee. What is the expand form of MPC?
A. Monetary Policy Control
B. Management Public Committee
C. Monetary Policy Committee
D. Market Policy Company
E. None of these
Answer (C) The government and the Reserve Bank
have reached a consensus on the structure for the
proposed Monetary Policy Committee and Public
Debt Management Agency.
92. The SARFAESI Act 2002 empowers Banks / Financial
Institutions to recover their non-performing assets
(bad loans) without the intervention of the Court. In
“SARFAESI” second “S” stands for ____.
A. Securitisation B. Security
C. Statutory D. Share
E. Saving
Answer (B) In “SARFAESI” second “S” stands for –
Security. The Securitisation and Reconstruction of
Financial Assets and Enforcement of Security Interest
Act, 2002 (SARFAESI) empowers Banks / Financial
Institutions to recover their non-performing assets
(bad loans) without the intervention of the Court.
93. The Reserve Bank of India (RBI) doubled the limit for
cash withdrawal at points of sale (PoS) in tier III to VI
cities to____.
A. Rs. 1000 B. Rs. 2000 C. Rs. 4000
D. Rs. 6000 E. Rs. 10,000
Answer (B) The Reserve Bank of India (RBI) doubled
the limit for cash withdrawal at points of sale (PoS) in
tier III to VI cities from Rs1,000 to Rs2,000 per day.
The facility will be available for debit cards and open
system pre-paid cards issued by banks. The limit
remains unchanged at Rs1,000 per day for tier I and
II cities.
94. The mobile banking app “LIME” has been launched by
which of the following banks?
A. SBI B. HDFC C. ICICI
D. PNB E. AXIS
Answer (E) The mobile banking app “LIME” has been
launched by Axis Bank. The app will allow customers
in both account and non-account holders to compare
and shop, split bills, transfer money and even share
their mobile banking wallets. This app can also be used
to pool money to buy gifts or for group travel by
friends.
95. Many a times we read in the newspapers that RBI has
changed or revised a particular ratio/rate by a few
basis points. What is basis point?
A. Ten per cent of one hundredth point
B. One hundredth of 1%
C. One hundredth of 10%
D. Ten per cent of 1000
E. None of these
Ans (B) Basis points - One hundredth of one
percentage point (used chiefly in expressing
differences of interest rates).
96. India's first fast reactor fuel reprocessing plant to be
built at which state?
A. Andhra Pradesh B. Gujarat
C. Tamil Nadu D. Chennai
E. Rajasthan
Answer (C) The foundation for India's first fast reactor
fuel reprocessing plant to be built at a cost of Rs 9,600
crore is expected to be laid in two months' time at
Kalpakkam in Tamil Nadu.
97. The 8th edition of Global Innovation Index (GII) 2015
was released jointly by Cornell University, INSEAD and
the World Intellectual Property Organization (WIPO).
What is the rank of India in the index?
A. 64 B. 76 C. 81
D. 95 E. 101
Answer (C) India's ranking has slipped further to 81
in the list, compared to 76 in 2014, but it remained at
the top of the regional ranking of Central and Southern
Asia. Switzerland, the United Kingdom, Sweden, the
Netherlands and the United States of America are the
world’s five most innovative nations.
98. Recently, G-20 group has launched the “Women-20
(W20)” group to empower women. The first Women-20
(W20)”summit 2015 will be held in ____.
A. Istanbul B. Ankara
C. Indonesia D. Beijing
E. Tokyo
Answer (A) To promote global gender-inclusive
economic growth, the Group of Twenty (G20) launched
Women-20 (W20) group. The first W20 summit 2015
will held on October 7-8, 2015 at Istanbul, Turkey.
Ms. Gulden Turktan from Turkey has been appointed
as the first President of W20 forum.
99. Reserve Bank of India (RBI) declared State Bank of
India (SBI) and ICICI Bank as D – SIBs. What is the
expand form as D – SIBs?
A. Domestic Security Internal Banks
B. Domestic Systemically Initial Banks
C. Domestic Systemically Important Banks
D. Demand Systemically Individual Banks
E. Deposit Systemically Interest Banks
Answer (C) The Reserve Bank of India (RBI) declared
State Bank of India (SBI) and ICICI Bank as Domestic
Systemically Important Banks (D- SIBs).
100. National Institution for Transforming India (NITI)
Aayog has launched the open source web based tool by
which name?
A. IESS 2050 B. IESS 2047
C. IESS 2036 D. IESS 2022
E. IESS 2019
Answer (B) The second version of an open source web
based tool, India Energy Security Scenarios 2047
calculator (IESS 2047) has been launched by the
National Institution for Transforming India (NITI)
Aayog.
101. According to the Socio Economic and Caste Census
(SECC) which among the following states in India has
highest per cent of Urban BPL households?
A. Bihar B. Uttar Pradesh
C. Manipur D. Jharkhand
E. Sikkim
Ans (C) The highest fraction of Urban Poors are in
Manipur (54.95% of its total population), Mizoram
(52.35% of its total population and Bihar (49.82 per
cent). On the other hand, least proportion of Urban
poor in India are in Goa (16%) and UTs of D&NH and
Delhi (8% each of their population).
102. Union Government has decided to set up a Bank Board
Bureau (BBB) to monitor key performance indicators of
two dozen public sector banks (PSBs). BBB will start
functioning from ___.
A. 31 December 2015 B. 1
st
January 2016
C. 31
st
March 2016 D. 1
st
April 2016
E. 1
st
June 2016
Ans (D) Bank Board Bureau (BBB) will start the
functioning from next financial year i.e. from 1st April
2016.
103. Which among the following banks has launched
country’s first MUDRA (Micro Units Development and
Refinance Agency) card under the Pradhan Mantri
MUDRA Yojana (PMMY)?
A. SBI B. PNB
C. Canara Bank D. Corporation Bank
E. Bank of Baroda
Ans (D) Corporation Bank launched country’s first
MUDRA (Micro Units Development and Refinance
Agency) card under the Pradhan Mantri MUDRA Yojana
(PMMY) in Mangalore, Karnataka.
104. India and United States have signed Inter
Governmental Agreement to implement the FATCA.
This agreement will promote transparency on tax
matters. Expand the term FATCA.
A. Financial Account Tax Compliance Act
B. Foreign Account Trade Company Act
C. Foreign Account Tax Compliance Act
D. Fiscal Account Tax Compliance Act
E. None of these
Ans (C) India and United States have signed Inter
Governmental Agreement to implement the Foreign
Account Tax Compliance Act (FATCA). This agreement
will promote transparency on tax matters.
105. Which among the following statements are correct/s
in the context with Payment Banks?
A. The minimum paid-up capital requirement for
payments banks is Rs. 100 crore
B. Payment banks will offer both deposits as well as
loan products.
C. Payments banks will have to invest in government
securities with a maturity of up to 1 year
D. Payments banks can open small savings accounts
and accept deposits of up to Rs.1 lakh per individual
customer.
(1) A, C, D (2) B, C, D
(3) A, B, C (4) A, B, D
(5) All are true
Ans (1) A, C, D The main objective of payment banks is
to increase financial inclusion in the country via a
primary focus on domestic payments services by
providing small savings accounts.
Note: Payments banks will be used only for
transaction and deposits purposes. Unlike Small
banks, payments banks cannot offer loan products to
the customers.
106. Union Government has launched Indradhanush
Mission to revamp functioning of public sector banks
(PSBs). How many pronged plan has been classified in
Indradhanush Mission?
A. Six B. Five
C. Seven D. Four
E. Eight
Ans (C) Union Government has launched a seven
pronged plan called Indradhanush Mission to revamp
functioning of public sector banks (PSBs). It was
launched by Union Finance Minister Arun Jaitley in
New Delhi.
The seven shades of Indradhanush mission include (i)
appointments, (ii) Bank Board Bureau (BBB), (iii)
capitalisation (iv) de-stressing PSBs, (v)
empowerment, (vi) framework of accountability and
(vii) governance reforms.
107. Recently, Asian Development lowered India’s Growth
Forecast for 2016 from 7.8% to _____.
A. 7.6% B. 7.5%
C. 7.4% D. 7.3%
E. None of these
Answer (C) Asian Development Bank (ADB) had
lowered India’s gross domestic (GDP) growth
projections for the fiscal year (FY) 2016 to 7.4 percent
from 7.8 percent projected in its March 2015 Outlook.
For FY2015, Indian economy growth is forecasted at
7.8 percent which is lower than the earlier forecast of
8.2 percent.
108. The Employees Provident Fund Organisation (EPFO)
increased the life insurance cover of its subscribers
from 3.6 lakh to _____.
A. 6 lakh B. 5 lakh
C. 5.5 lakh D. 4 lakh
E. None of these
Answer (A) The Employees Provident Fund
Organisation (EPFO) on 16 September 2015 increased
the life insurance cover of its subscribers from 3.6
lakh to 6 lakh rupees. About 40 million contributing
members of the EPFO will be benefitted from the
decision taken at the 208th CBT meeting in Hyderabad.
109. What is the full form of CVV?
A. Credit Verification Value
B. Currency Verification Variable
C. Customer Verification Value
D. Card Verification Value
E. None of these
Answer (D) Full form of CVV is - "Card Verification
Value" on your credit card or debit card is a 3 digit
number on VISA, MasterCard etc.
110. The selling of life assurance and other insurance
products and services by banking institution is known
as ____.
A. Insurance cover B. Bancassurance
C. Protection cover D.Assurance cover
E. None of these
Answer (B) The selling of life assurance and other
insurance products and services by banking institution
is known as Bancassurance.
#SSC #IBPS #SBI #RBI #NABARD #NICL #NIACL #CAT #NMAT #everydayquiz
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