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Current Affairs - 9 December 2014

Andhra Pradesh Government on 8 December 2014 signed an MoU (Memorandum of Understanding) with which country to assist it in developing master plan for the new proposed capital city?

  • Singapore
    Andhra Pradesh (AP) has to develop its own capital following formation of Telangana in June 2014 and subsequently Hyderabad becoming its capital. The AP Govt. had earlier proposed to develop its new capital in the Guntur-Vijayawada region. Following this the govt. wants to take the experience and expertise of Singapore in developing its capital. AP Chief Minister N Chandrababu Naidu wants to develop a capital city which would be better than the best city anywhere in the world. The proposed capital is being touted as a smart and environmentally sustainable city. The master plan for the same is expected to be prepared within 6 months.

US-based news and blogging platform Huffington Post launched its Indian edition on 8 December 2014. The India edition of Huffington Post thus becomes its 13th edition worldwide. This edition has been launched in association with which Indian media company?

  • The Times of India Group
    Huffington Post is the first major global entrant into a fast growing digital news space in India. Owned by AOL, it has 119 million multi-platform visitors per month in the US and has over 80,000 bloggers. Huffington Post has editions in the UK, Canada, France, Spain, Italy, Japan, Maghreb, Germany, Brazil, South Korea and Greece apart from the US.

Which Indian private airline is presently going through rough weather and an emergency board meeting was held on 8 December 2014 to take important decisions pertaining to airline’s recapitalization and payment plans for vendors?

  • SpiceJet
    SpiceJet is the second largest budget airline in India and is operating its passenger services in all important sectors of the country. Its problems arose after it continued to cancel flights over the last few days in many sectors. Company claimed that it is being done to restructure airline’s operations. However, many analysts claimed that it is going through same conditions as the bankrupt Kingfisher Airlines had before its closure. Aviation regulator Directorate General of Civil Aviation (DGCA) on its part asked the airline to prepare a payment plan by 15 December 2014. The airline reportedly owes Rs. 700 crore to creditors and Rs. 400 crore to other vendors.

According to the recently released “Global Wealth Databook 2014” by Swiss banking entity Credit Suisse, how much of India’s wealth is held by country’s 10% rich people?

  • Around 75%
    This databook has come out with some staggering data on the wealth gap and disparity between the rich and the poor in India. It states that India’s richest 10% holds 370 times the share of wealth that it’s poorest hold. India’s richest 10% have been getting steadily richer since 2000, and now hold nearly three-quarters of total wealth. It also states that India thus dominates the world’s poorest 10%, while China dominates the global middle class and the United States the world’s rich. The world’s super-rich – the top 1% – is overwhelmingly American. Indians make up just 0.5% of the world’s super-rich.

Which private sector bank on 8 December 2014 announced hiking of ATM usage charges for its saving account holders from 1 January 2015?

  • ICICI Bank
    ICICI Bank announced that from 1 January 2015 the number of free transactions in a month has been fixed at five using own ATMs, while it has been capped at three for other banks’ machines. Thus bank’s customers would be able to enjoy only five free transactions, including financial and non-financial, at the bank’s own ATMs. After exceeding the free transaction limits, customers will have to pay Rs. 20 per financial transaction excluding service tax and Rs. 8.50 for every non-financial transaction. For transactions at non-ICICI Bank ATMs, the number of free financial and non-financial transactions have been reduced to three per month at six metros of Mumbai, New Delhi, Chennai, Kolkata, Bengaluru and Hyderabad, after which the customer will have to pay Rs. 20 for a financial transaction and Rs. 8.50 per non-financial transaction. In case of usage in non-metro areas, a customer can enjoy five free transactions per month at non-ICICI Bank ATMs, after which the same charges apply.

The Delhi government on 8 December 2014 banned all operations by private cab service Uber with immediate effect and blacklisted it from providing any transport service in the national capital in the wake of the alleged rape incident in a taxi plying for it. Uber is hire-a-cab firm of which country?

  • The US
    The Delhi transport department banned all activities related to providing of any transport service by with immediate effect. The department also blacklisted the company from providing any transport service in the NCT of Delhi in future. It was alleged that the cab firm misled the commuter (rape victim) about the nature of the taxi service offered by its App. The alleged rape incident took place on 5 December 2014 when the victim, who works for a finance company in Gurgaon, was headed back to her home in north Delhi.


  • 1. Which of the following commissions recommended for establishment of Reserve Bank of India?
    a) Deshmukh Committee
    b) Hilton young commission
    c) Presidency Banking Commission
    d) Narasimhan Committee
    e) Osbone Smith Committee
  • 2. RBI has capped the _______ to Rs. 35000 Crore to central government for the first half of the new financial year 2015.
    a) Bridge Loan
    b) Long term loan to repay the World Bank loan
    c) Ways and means advance
    d) Advance to promote Government Schemes
    e) Advance for improving infrastructure for the newly formed states in India
  • 3. RBI has been authorised by Central Government to issue debt instruments not exceeding Rs.50000 Crore during the fiscal 2014-15 under MSS. What do you mean by MSS?
    a) Marginal Stability Scheme
    b) Market standardisation Scheme
    c) Market Stabilisation Scheme
    d) Marginal Stabilisation scheme
    e) None of the above
  • 4. Which bank has started issuing Kisan Card to withdraw one lakh per day from ATMs?
    a) Axis Bank
    b) ICICI Bank
    c) HDFC Bank
    d) State Bank of India
    e) Punjab National Bank
  • 5. Who is recently named as the India's governor on the board of governors of Asian Development Bank?
    a) Sushma Swaraj
    b) Arun Jaitley
    c) Murali Manohar Joshi
    d) H.R.Khan
    e) Venkaiah Naidu
  • 6. The rate of interest on Differential Rate of Interest (DRI) loan introduced in the year 1972 is __
    a) 4%
    b) 5%
    c) 6%
    d) 3%
    e) Depends on the loan
  • 7. Which of the following banks were merged with State Bank of India?
    a) State Bank of Indore
    b) State Bank of Sourasthra
    c) State Bank of Bikaner and Jaipur
    d) State Bank of Patiala
    e) a & b
  • 8. When a person wants to save money for a longer period of time with a view to earn a higher rate of interest, he/ she should open which of the following types of accounts?
    a) Savings account
    b) Current account
    c) Terms Deposit account
    d) Recurring account
    e) None of these
  • 9. For obtaining which among the following, does a customer not require a bank account?
    a) A Loan
    b) A Cheque
    c) A Banker's Draft
    d) A debit Card
    e) All of the above
  • 10. When RBI sells Government securities, its result:
    a) The liquidity in the banking system increases
    b) The liquidity in the banking system remains unchanged
    c) The liquidity in the banking system gets diminished
    d) The Deflation will be controlled
    e) The borrowers get credit at cheaper rate
  • 11. The banks are in process to bring in biometric ATMs. These are specially aimed to address the needs of which of the following categories?
    a) Urban customers
    b) Rural customers
    c) Students
    d) Women
    e) None of these
  • 12. What do you mean by flight of capital?
    a) Large number of investors of a country transferring their investments elsewhere due to disturbed economic conditions
    b) Investment in risky projects
    c) Large amount of inflow of capital from NRIs
    d) b & c
    e) None of the above
  • 13. Fourteen banks were nationalised on 19.07.1969 as per:
    a) Companies Act 1956
    b) Banking Regulation Act 1949
    c) Banking Companies (Acquisition and transfer of undertakings) ordinance Act, 1969
    d) RBI Act 1934
    e) Negotiable Instruments Act 1881
  • 14. Under PMJDY, every account holder will get a ____
    a) Rupay debit card
    b) Rs. 1.00 lack accident insurance
    c) Rs. 30,000 for natural death
    d) Rs. 25000 credit card limit
    e) a, b & c
  • 15. The Phase II of PMJDY (15th August, 2015 to 14th August, 2018) covers ____
    a) Creation of Credit Guarantee Fund for coverage of defaults in overdraft A/Cs
    b) Micro Insurance
    c) Unorganized sector Pension schemes like Swavlamban
    d) Only a & b
    e) a, b & c
  • 16. How many times nomination in deposit accounts can be changed?
    a) Only one
    b) Maximum two times
    c) Once in a year
    d) At the discretion of the concerned bank
    e) No such restriction
  • 17. BIS which has representative offices in Hong Kong and Mexico was established on 17th May 1930, wherein BIS stands for:
    a) Bank for Industrial Settlements
    b) Bank for International Settlements
    c) Bank with Industrial standards
    d) Bureau of Indian Standards
    e) None of the above
  • 18. Which Indian is one of the Board of Directors in BIS (Bank for International Settlements)?
    a) Arun Jaitley
    b) Chidambaram
    c) Raghuram Rajan
    d) Arundhathi subramanyam
    e) SS Mundra
  • 19. Basel III Norms are to be fully implemented by ____
    a) 31 march 2020
    b) 31 March 2019
    c) 31 March 2025
    d) 30 September 2014
    e) None of these
  • 20. What are the powers of RBI under section 35A of the Banking Regulation Act 1949 for issuing directions to Bank?
    a) To issue directions in the public interest or in the interest of banking policy
    b) To prevent affairs of banking company if it is detrimental to the interests of depositors
    c) To secure the proper management of any banking company
    d) All the above
    e) Only a & b
  • 21. As per Basel III, Banks would be required to maintain capital Adequacy Ratio of ____ including Capital Conservation Buffer (CCB).
    a) 11.5
    b) 10.5
    c) 9.5
    d) 8.5
    e) 12.5
  • 22. SEBI Head Office is located in:
    a) Hyderabad
    b) Pune
    c) Mumbai
    d) New Delhi
    e) Chennai
  • 23. Which of the following are the targets for different categories of priority sector?
    a) Overall target 40% of net Bank credit
    b) Agriculture loans (direct and indirect) 18%
    c) Priority sector target for foreign Banks is 32%
    d) All the above
    e) None of the above
  • 24. In terms of section 19 of the RBI Act 1934, the RBI has been prohibited from:
    a) Acting as lender of last resort to banks
    b) Drawing or accepting bills payable otherwise than on demand
    c) Allowing interest on deposits or current accounts
    d) Deciding Repo and Reverse Repo Rates
    e) Deciding Bank Rate
  • 25. Budget allocation for the rural housing scheme in the Union Budget 2014 - 15 is ____
    a) Rs. 6,000 cr
    b) Rs. 8,000 cr
    c) Rs. 10,000 cr
    d) Rs. 12,000 cr
    e) None of the above
  • 26. RBI allocating the funds from the subvention of rate of interest to Bank loans given to farmers by pledging their gold comes under _____
    a) Traditional function
    b) Supervisory function
    c) Promotional function
    d) Derilictory function
    e) None of these
  • 27. Review of banks performance is one of the functions of ____
    a) Promotional function
    b) Administrative function
    c) Supervisory functions
    d) Negative functions
    e) None
  • 28. 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 of these
  • 29. An order cheque is endorsed as "without recourse to me" by the endorser. This endorsement is known as
    a) Blank endorsement
    b) Restrictive endorsement
    c) Endorsement in full
    d) Sans recourse endorsement
    e) None of these
  • 30. Bank A allows one of its clients to withdraw against clearing of a cheque, The banker is called as:
    a) Collecting and paying banker
    b) Holder in due course
    c) Holder for value
    d) Reimbursement banker
    e) Any of the above
  • 31. Which one of the Non Resident Deposit schemes is not permitted?
    a) FCNR A/cs
    b) NRNR A/cs
    c) NRE A/cs
    d) NRO A/cs
    e) NREO A/cs
  • 32. Capital adequacy is worked out based on:
    a) Total demand and time liabilities
    b) Net demand and time assets
    c) Risk weighted assets
    d) Risk weighted liabilities
    e) Only a & b
  • 33. The whole time Directors of a Bank are appointed by:
    a) Reserve Bank of India
    b) Central government in consultation with RBI
    c) Individual Bank
    d) All the above
    e) None of the above
  • 34. Maximum amount that can be referred to Banking Ombudsman is ___
    a) Rs. 5 lakh
    b) Rs. 10.00 lakh
    c) Rs. 4.00 lakh
    d) Rs. 3.00 lakh
    e) Rs. 2.00 lakh
  • 35. Which of the following is the first universal bank of India?
    a) HDFC
    b) Axis Bank
    c) ICICI
    d) Federal Bank
    e) None of these
  • 36. Which of the following guidelines are applicable in connection with short fall in lending to priority sector?
    a) Equivalent amount of shortfall under agriculture sector should be invested with RIDF
    b) Any shortfall in achieving sub-target under SSI sector, an equivalent amount should be invested with SIDBI
    c) The interest rates on banks' contribution to RIDF shall be fixed by Reserve Bank of India from Time to time.
    d) The foreign banks having shortfall in lending to stipulated priority sector target/ subtargets will Be required to contribute to Small Enterprises Development Fund (SEDF)
    e) All of the above
    1) b; 2) c; 3) c; 4) a; 5) b; 6) a; 7) e; 8) c; 9) c; 10) c;
    11) b; 12) a; 13) c; 14) e; 15) e; 16) e; 17) b; 18) c; 19) b; 20) d;
    21) a; 22) c; 23) d; 24) c; 25) b; 26) c; 27) c; 28) a; 29) d; 30) c;
    31) b; 32) c; 33) b; 34) b; 35) c; 36) e.

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