Banking Awareness : Quiz 1
Q1. Oxigen&Fincare Small Finance Bank signed an agreement to roll out the Branchless Banking services, using Oxigen’s flagship Point of Sale device called the Oxigen Micro ATM Super PoS. Where is the Corporate Office of Fincare Small Finance Bank?
(a) Chennai
(b) Bengaluru
(c) Ahmedabad
(d) Jaipur
(e) Mumbai
Q2. On occasion of Birth Anniversary of Mahatma Gandhi, _______________________ launched a National Level Entrepreneurship Awareness Campaign, UdyamAbhilasha in 115 Aspirational Districts in 28 States & reaching to around 15,000 youth.
(a) SEBI
(b) IRDAI
(c) RBI
(d) NABARD
(e) SIDBI
Q3. Alibaba&SoftBank-backed Paytm registered over 137 million UPI transactions in September, becoming the leading contributor to Unified Payments Interface (UPI) payments with over 33% of the overall market share. SoftBank based in-
(a) Japan
(b) Thailand
(c) China
(d) Singapore
(e) Nepal
Q4. Life insurer PNB Metlife has unveiled an Artificial Intelligence (AI)-powered customer service app ____________.
(a) Naami
(b) Sohrat
(c) Dhana
(d) Khushi
(e) Uphaar
Q5. Reliance Health Insurance, a wholly-owned subsidiary of Reliance Capital, received final approval from ___________ for its new health insurance business.
(a) TRAI
(b) SEBI
(c) IRDAI
(d) RBI
(e) NABARD
Q6. Which organisation has approved a new scheme- “AtalBimitVyaktiKalyanYojna” for Insured Persons covered under the Employees’ State Insurance Act?
(a) SEBI
(b) NABARD
(c) RBI
(d) ESIC
(e) IRDAI
Q7. As per the RBI, India’s external debt declined 2.8% to USD ________________ at June-end over the previous quarter on account of a decrease in commercial borrowings, short-term debt & NRI deposits.
(a) USD 514.4 billion
(b) USD 301.2 billion
(c) USD 717.8 billion
(d) USD 913.6 billion
(e) USD 101.0 billion
Q8. The Association of Mutual Funds in India (AMFI) is an industry standards organisation in India in the mutual funds sector. It was formed in-
(a) 1992
(b) 1982
(c) 2001
(d) 1999
(e) 1995
Q9. Government decided to make the PradhanMantri Jan DhanYojana (PMJDY) an open-ended scheme. FM Jaitley stated that the overdraft facility has been doubled from Rs. 5,000 to-
(a) Rs. 5,000
(b) Rs. 10,000
(c) Rs. 20,000
(d) Rs. 15,000
(e) Rs. 7,000
Q10. Association of Mutual Funds in India (AMFI) registered mutual funds in India of all the registered Asset Management Companies as a non-profit organisation. AMFI is the registered association under
(a) TRAI
(b) RBI
(c) SEBI
(d) IRDAI
(e) ESIC
Q11. CAD has widened to a four-quarter-high at 2.4% of gross domestic product (GDP) in April-June period, as per the RBI data. What is the full form of CAD?
(a) Central Account Deficit
(b) Current Account Decline
(c) Current Amount Deficit
(d) Common Account Deficit
(e) Current Account Deficit
Q12. Economic Affairs Secretary SC Garg announced a reduction in gross borrowing estimate for the current fiscal by ______________________ crore rupees and maintained that the government will contain fiscal deficit target at 3.3%.
(a) 30,000 crore rupees
(b) 10,000 crore rupees
(c) 50,000 crore rupees
(d) 70,000 crore rupees
(e) 90,000 crore rupees
Q13. Which country has received $57.1 billion from International Monetary Fund (IMF), the biggest loan package ever from the global body aimed at boosting the country’s struggling economy?
(a) Singapore
(b) Russia
(c) Argentina
(d) Germany
(e) India
Q14. How much amount has approved by Finance ministry in five state-owned lenders including PNB, Corporation Bank & Andhra Bank to help them meet the regulatory capital requirement?
(a) Rs 22,112 crore
(b) Rs 11,336 crore
(c) Rs 34,513 crore
(d) Rs 47,651 crore
(e) Rs 82,203 crore
Q15. The European Investment Bank is the European Union’s nonprofit long-term lending institution established in 1958 under the Treaty of Rome. Where is the headquartered of European Investment Bank?
(a) Warsaw
(b) Luxembourg
(c) Sofia
(d) Vienna
(e) Hungary
Solutions
S1. Ans.(b)
Sol. Oxigen&Fincare Small Finance Bank signed an agreement to roll out the Branchless Banking services, using Oxigen’s flagship Point of Sale device called the Oxigen Micro ATM Super PoS. The Corporate Office of Fincare Small Finance Bank is in Bengaluru.
S2. Ans.(e)
Sol. On occasion of Birth Anniversary of Mahatma Gandhi, SIDBI launched a National Level Entrepreneurship Awareness Campaign, UdyamAbhilasha in 115 Aspirational Districts in 28 States & reaching to around 15,000 youth.
S3. Ans.(a)
Sol. Alibaba&SoftBank-backed Paytm registered over 137 million UPI transactions in September, becoming the leading contributor to Unified Payments Interface (UPI) payments with over 33% of the overall market share. SoftBank Group Corp. is a Japanese multinational holding conglomerate headquartered in Tokyo, Japan.
S4. Ans.(d)
Sol. Life insurer PNB Metlife has unveiled an Artificial Intelligence (AI)-powered customer service app ‘Khushi’. The app is designed to be a one-stop shop providing insurance-related information, anytime, anywhere, such as policy features, premium due details besides providing fund value and portfolio details.
S5. Ans.(c)
Sol. Reliance Health Insurance has received the final go- ahead from the Insurance Regulatory and Development Authority of India (IRDAI) to begin operations.
Reliance Health Insurance, a wholly owned subsidiary of Reliance Capital, has received R3 approval from IRDAI for its new health insurance business.
S6. Ans.(d)
Sol. The Employees’ State Insurance Corporation (ESIC) has approved a new scheme- AtalBimitVyaktiKalyanYojna for Insured Persons covered under the Employees’ State Insurance Act. This scheme is a relief payable in cash directly to their Bank Account in case of unemployment and while they search for new engagement. The decision was taken at the ESIC board meeting chaired by the Labour Minister SantoshGangwar in New Delhi.
S7. Ans.(a)
Sol. As per the RBI, India’s external debt declined 2.8% to USD 514.4 billion at June-end over the previous quarter on account of a decrease in commercial borrowings, short-term debt & NRI deposits.
S8. Ans.(e)
Sol. The Association of Mutual Funds in India is an industry standards organisation in India in the mutual funds sector. It was formed in 1995. Most mutual funds firms in India are its members. The organisation aims to develop the mutual funds market in India, by improving ethical and professional standards.
S9. Ans.(b)
Sol. Govt. decided to make the PradhanMantri Jan DhanYojana (PMJDY) an open-ended scheme. FM Jaitley stated that the overdraft facility has been doubled from Rs. 5,000 to Rs. 10,000. The age limit for availing OD under it has also been revised to 18 to 65 years from 18 to 60 years. The accidental insurance cover for new RuPay Cardholders raised from Rs. one lakh to Rs. two lakh.
S10. Ans.(c)
Sol. The Association of Mutual Funds in India (AMFI) is dedicated to developing the Indian Mutual Fund Industry on professional, healthy and ethical lines and to enhance and maintain standards in all areas with a view to protecting and promoting the interests of mutual funds and their unit holders. AMFI, the association of SEBI registered mutual funds in India of all the registered Asset Management Companies, was incorporated on August 22, 1995, as a non-profit organisation.
S11. Ans.(e)
Sol. India’s Current Account Deficit (CAD) widened to a four-quarter-high at 2.4% of gross domestic product (GDP) in April-June period, as per the RBI data.
S12. Ans.(d)
Sol. Economic Affairs Secretary SC Garg has announced a reduction in gross borrowing estimate for the current fiscal by 70,000 crore rupees and maintained that the government will contain fiscal deficit target at 3.3 per cent. Giving details about the borrowing programmes for the second half of the fiscal, MrGarg said, the government would be borrowing around 2 lakh 50,000 crore rupees as compared to 2 lakh 88,000 crores during April-September of 2018-19.
S13. Ans.(c)
Sol. Argentina has received $57.1 billion from the International Monetary Fund (IMF), the biggest loan package ever from the global body aimed at boosting the country’s struggling economy. The loan, $15 billion of which has already been received by Argentina, will be disbursed over the next three years.
S14. Ans.(b)
Sol. Finance ministry has approved an infusion of Rs 11,336 crore in five state-owned lenders including PNB, Corporation Bank & Andhra Bank to help them meet the regulatory capital requirement. This is the first ever capital infusion in the current fiscal & the remaining amount of Rs 53,664 crore would be disbursed during the course of the year.
Which bank will get how much?
1. Punjab National Bank: Rs 2,816 crore (Highest Amount),
2. Allahabad Bank: Rs 1,790 crore,
3. Andhra Bank: Rs 2,019 crore,
4. Indian Overseas Bank: Rs 2,157 crore,
5. Corporation Bank: Rs 2,555 crore.
S15. Ans.(b)
Sol. The European Investment Bank is the European Union’s nonprofit long-term lending institution established in 1958 under the Treaty of Rome. The headquartered of European Investment Bank is in Luxembourg.