Current Affairs - September 2014

What was the overall status of livestock population in the country as stated in the 19th Livestock Census for 2012 released on 3 September 2014?

–Overall decline of 3.3% in livestock population as compared to 2007

• The 19th Livestock Census (2012) published by the Department of Animal Husbandry, Dairying and Fisheries was released on 3 September 2014. The main conclusion in the Census is that during 2012, the total livestock population, consisting of buffaloes, sheep, goats, pigs, horses and ponies, mules, donkeys, camels, mithun and yak, stood at 512.05 million in 2012 against 529.69 million in 2007. However, the number of milch animals (in-milk and dry), cows and buffaloes, increased from 111.09 million to 118.59 million, up 6.75%, while the number of ‘animals-in–milk’ increased from 77.04 million to 80.52 million, showing an increase of 4.51%. The population of female cattle (cows) also increased to 122.9 million, up 6.52% over the 2007, along with a 7.99% rise in female buffalo population, which stood at 92.5 million in 2012. However, the goat and sheep population registered a decline of 3.82% and 9.07% respectively over the previous census. The camel and donkey population also decreased sharply by 22.48% and 27.22% in 2012, over the 2007 Census. The 19th Livestock Census was conducted during 2012 with reference date 15 October 2012. The first livestock census was carried out in 1919-20 and since then 18 such endeavours have been completed.

What was India’s position in the Global Competitiveness Report 2014-15 that was released on 3 September 2014 by Geneva-based World Economic Forum (WEF)?

• – 71st
  

  Explanation : India slipped by 11 places in the 2014-15 as against 60th position in the report for 2013-14. India’s position was lowest among the 5 BRICS countries. China, which has improved its position by one place to 28th spot, leads the BRICS grouping. Russia is ranked at 53rd position, followed by South Africa (56th) and Brazil (57th). Switzerland was once again placed as the most competitive economy, followed by Singapore and United States. Other countries in the top ten are Finland (4th), Germany (5th), Japan (6th), Hong Kong SAR (7th), Netherlands (8th), United Kingdom (9th) and Sweden (10th). According to the report, India’s slide in the competitiveness rankings began in 2009, when its economy was still growing at 8.5% (it even grew by 10.3% in 2010).

What is the name of the newly launched domain name in Devanagari script that includes 8 Indian languages including Hindi and Marathi?

• – bharat domain 

  The name would have ‘.bharat’ (.भारत) in Hindi script as its extension instead of commonly top level domains such as .com, .net or .in. With the launch, individuals or companies who are interested in owning a website with domain name in Hindi language would be able to book the name in Hindi script. The 8 Indian languages which can have .bharat domain are Bodo (Boro), Dogri, Hindi, Konkani, Maithili, Marathi, Nepali, and Sindhi. However, this domain will be available in all the Indian languages very soon.

What is the name of a deadly ‘Trojan’ virus which hacks and steals personal credit and debit card data and is prowling in the Indian cyberspace as announced on 3 September 2014 by Indian cyber security watchdog CERT-In?

• – “Backoff”

  “Backoff” is being seen spreading through computer networks which use Windows as their operating systems. It targets Point of Sale (POS) systems and propagates by scanning for systems with remote desktop applications enabled. The virus is capable of stealing customer payment cards data like card holders name, account number, expiration data, CVV code among others from POS systems. The virus is so notorious that it is able to capture keystrokes and communicate with the command and control server for further hacking. CERT-In (Computer Emergency Response Team India) is the nodal agency to combat hacking, phishing and to fortify security-related defences of the Indian Internet domain.

Which city sent highest number of students to Indian Institutes of Technology (IITs) during 2014 as revealed in a detailed analysis by the Joint Implementation Committee (JIT), released by IIT Kharagpur?

• – Jaipur

  The other five cities with most number of successful candidates are Delhi, Hyderabad, Vijayawada, Patna and Mumbai. The six cities account for 10,882 or 40.07 per cent of the candidates who qualified this year. While 1,26,995 candidates registered this year, 1,19,581 appeared in both papers and 27,152 candidates qualified JEE (Advanced) 2014. 2,780 students qualified as against 10,116 registrations from Jaipur. The data reveals that among the states, which have the maximum candidates qualifying, Andhra Pradesh (18.32%), Rajasthan (15.81%), Uttar Pradesh (12.21%), Maharashtra (8.52%) and Delhi (NCT) (6.61%) occupy the top five positions. The IIT-JEE for 2014 was conducted by IIT Kharagpur.

Which auto company introduced Ciaz, its new mid-sized sedan, on 3 September 2014?

• – Maruti Suzuki

  Explanation : Maruti Suzuki, which already dominates the compact cars segment in India, wants to target the top spot in mid-sized sedan category with Ciaz. Maruti Suzuki has twice in the past tried to grab a share of this segment with Baleno and SX4. However, these models failed to make a significant impact. Ciaz would be officially launched during first week of October 2014.

• BANKING AWARENESS PRACTICE QUESTIONS FOR SBI PO EXAM 2014

  
  1. Hawala transactions in India are prohibited under the provision of which of the following Acts?
  a) FRBM Act b) FEMA
  c) RBI Act
  d) FATF Act
  e) Banking Regulation Act
  
• 2. Advantages of Mutual Funds are:
  a) The transaction cost is very low
  b) Provides more security as compared to shares
  c) The small amounts gathered will be invested in diversified sectors
  d) Professional Management is provided through AMC
  e) All of the above
• 3. Issuing credit cards falls under ___
  a) Corporate banking
  b) Rural banking
  c) Retail banking
  d) Micro finance
  e) None of these
• 4. Banks are considered as 'financial intermediaries', which of the following activity correctly and comprehensively explains the role of banks?
  a) Accepting deposits of money for the purpose of lending and investment
  b) Granting loans to the weaker sections of the society
  c) Accepting money for remittance and issuing bank drafts
  d) Providing safe deposit services
  e) Opening accounts and accepting deposits therein
• 5. Banks will come across different types of risks in their day to day activities. Which of the following is one such major risk?
  a) Customer risk
  b) Reputation
  c) Goodwill risk
  d) Protection risk
  e) Operational risk
• 6. What does the letter 'R' denotes in the abbreviation 'BR Act' which controls banking activities
  in the country?
  a) Reformation
  b) Regulation
  c) Reporting
  d) Resolution
  e) Ranking
• 7. Which of the following a largest private sector bank in India in respect of Number of branches/ business?
  a) AXIS Bank
  b) HDFC Bank
  c) ICICI Bank
  d) Kotak Mahindra
  e) None of these
• 8. When RBI increases CRR/ SLR it is said to be:
  a) Tight money policy
  b) Easy money policy
  c) Open money policy
  d) Closed money policy
  e) None of these
• 9. What per cent of Net bank credit are "domestic commercial banks required lending to Agricultural" sector?
  a) 12%
  b) 18%
  c) 15%
  d) 40%
  e) None of these
• 10. Which of the following banks was not nationalized in the first phase of Nationalization in the year 1969?
  a) Punjab National Bank
  b) Oriental Bank of Commerce
  c) Bank of Baroda
  d) Union Bank of India
  e) None of these
• 11. A savings bank account opened with a commercial bank with zero balance or very minimum balance is known as:
  a) Savings bank - ordinary account
  b) Student savings bank account
  c) No frill account
  d) Current account
  e) Safe deposit account
• 12. Personal Accident Insurance Scheme is available for KCC (Kisan Credit Card) holders. Who pay the insurance premium of Rs. 15?
  a) Bank Will pay entire premium
  b) KCC Holder will pay entire premium
  c) Bank and KCC holder will share equally
  d) Bank will pay Rs. 10/- and Rs 5/- will be debited to KCC holder's account
  e) KCC Holder will pay Rs. 10/- and Bank will pay the balance of Rs. 5/-
• 13. Which of the following are correct regarding NABARD?
  a) It manages Financial Inclusion Fund
  b) It operates Rural Infrastructure Development Fund
  c) Established on 12th July 1982
  d) It is a Micro Finance Regulatory Authority
  e) All of the above
• 14. A nationalized bank is also called by the following name:
  a) Private Sector Bank
  b) Self Help Group
  c) Grameen bank
  d) Public Sector Bank
  e) None of these
• 15. Which of the following is incorrect?
  a) EXÏM bank is established in the year 1982
  b) SIDBI was established in the year 1990
  c) National Housing Bank was Created in the year 1988
  d) IRDA was established in the year 1980
  e) BIFR was established in the year 1987
• 16. Who headed the committee on financial benchmarks set up by RBI?
  a) Y Venugopal Reddy
  b) C Rangarajan
  c) Bimal Jalan
  d) Vijay Kelkar
  e) Vijaya Bhaskar
• 17. ____ is allowed by the Government of India to increase foreign shareholding from 49 per cent to 62 per cent recently.
  a) HDFC
  b) Axis Bank
  c) YES Bank
  d) ICICI bank
  e) None of the above
• 18. Which of the following is/ are considered as a valid proof of address while opening an account
  with a bank?
  a) PAN card
  b) Driving license
  c) Electricity bill
  d) Passport
  e) b, c & d
• 19. The target for providing finance to Weaker Sections, under priority sector stipulated by RBI is ____
  a) 10%
  b) 18%
  c) 32%
  d) 40%
  e) None of these
• 20. The need for CTS - 2010 (Cheque Truncation System) is introduced for the purpose of:
  a) Attractive designing
  b) Uniform in digits
  c) Uniform security features
  d) To speed up clearing of instruments to help customers
  e) Both c and d
• 21. Who will guarantee cover to the loans given under CGTMSE?
  a) IRDA
  b) SEBI
  c) NABARD
  d) RBI
  e) SIDBI & GOI
• 22. Where is the headquarters of the bank for International Settlements (BIS) located?
  a) Hong Kong
  b) Vienna
  c) Mexico City
  d) Basel
  e) Antwerp
• 23. QCCP (Pertaining to payment and settlement section Act 2007) stands for:
  a) Queried Central Counterparty
  b) Qualifying Central Counterparty
  c) Qualitative Central Counterparty
  d) Quantitative Central Counterparty
  e) None of these
• 24. A Banking Ombudsman can reject a complaint at any stage on which of the following grounds?
  a) There is no loss or damage or inconvenience caused to the complaint in the option of the
  Banking Ombudsman
  b) The compensation sought from the banking Ombudsman is beyond Rs.10 lakh
  c) The complaint is not pursued by the complaint with reasonable diligence
  d) Any of the above
  e) Only 1 and 3
• 25. In banking terminology difference between interest earned and interest paid is called as:
  a) Margin
  b) Interest Income
  c) Spread
  d) Both b & c
  e) None of these
• 26. IBA at its meeting held on 20th August 2014 elected Mr./ Mrs. ___ as Chairman & Managing
  Director of IBA for the year (term) 2014-15.
  a) VR Iyer
  b) HR Kamath
  c) Arundhati Bhattacharya
  d) TM Bhasin
  e) MV Nair
• 27. SFMS, in banking parlance, stands for:
  a) Scheme for Marginal and Small Farmers
  b) Super Financial Message System
  c) Systematic Financial Messaging System
  d) Structured Financial Messaging System
  e) None of the above
• 28. Call money market deals in short term finance repayable on demand with a maturity period varying from:
  a) 1 to 30 days
  b) 7 to 14 days
  c) 14 to 30 days
  d) 30 to 60 days
  e) 1 to 14 days
• 29. 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 these
• 30. At present Treasury bills are issued by Government of India through auctions with a maturity periods of:
  a) 91 days, 182 days, 364 days
  b) 20 days, 60 days, 180 days
  c) 30 days, 60 days, 180 days
  d) 60 days, 90 days, 180 days
  e) 90 days, 180 days, 360 days
• 31. Which of the following organizations provides Credit Rating and Credit History (Information)
  of the borrowers?
  a) CRISIL, RBI
  b) SEBI, IRDA
  c) RBI, ICRA
  d) IBA, SEBI
  e) CRISIL, CIBIL
• 32. What is Money Laundering?
  a) Conversion of assets into cash
  b) Conversion of cash into gold
  c) Conversion of illegally obtained money into white money
  d) Conversion of gold into money
  e) None of these
• 33. "Reinsurance" means:
  a) Insuring twice for the same policy holder
  b) This meant for only Bank Loan Borrowers
  c) This is meant for Public Sector Employees
  d) It is a insurance policy issued by IRDA
  e) One insurance company insuring with another big and sound insurance company to manage its probable risks.
• 34. Apex Bank to take care of Agriculture Credit in India is:
  a) NABARD
  b) Co - operative bank
  c) RBI
  d) SBI
  e) None
• 35. As per RBI order, against the certificate of Deposit, the ___
  a) Loan cannot be granted
  b) Loan can be granted
  c) Loan can be granted up to 50% of value
  d) Loan can be granted up to 75% of value
  e) None
• 36. Which of the private sector lenders introduced its own card 'Kisan Card' through which a farmer can withdraw up to Rs. 1 lakh per day from ATMs?
  a) HDFC
  b) ICICI
  c) Axis Bank
  d) Federal Bank
  e) Indus Ind bank
• 37. ___ % Net Bank Credit (NBC) to be given to priority sector lending by foreign banks as per the order of RBI?
  a) 50
  b) 40
  c) 60
  d) 12
  e) 32
• 38. Which one of the following is not an authorized means of banking transactions for the people in India?
  a) Mobile
  b) Online
  c) Phone
  d) Visiting Individually
  e) Video Conferencing
• 39. For violation of FEMA, prosecution is done by:
  a) RBI
  b) DGFT
  c) FEDAI
  d) Enforcement Directorate
  e) None of these
• 40. Loans of very Small amount given to low income group is called?
  a) Cash Credit
  b) No Frill Credit
  c) Rural Credit
  d) Micro Credit
  e) Simple over Draft
• ANSWERS:
  1. b; 2. e; 3. c; 4. a; 5. e; 6. b; 7. c; 8. a; 9. b; 10. b;
  11. c; 12. d; 13. e; 14. d; 15. d; 16. e; 17. b; 18. e; 19. a; 20. e;
  21. e; 22. d; 23. b; 24. d; 25. d; 26. d; 27. d; 28. e; 29. d; 30. a;
  31. e; 32. c; 33. e; 34. a; 35. a; 36. c; 37. e; 38. e; 39. d; 40. d;

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