Current Affairs January 2018 - Vikalp Education

Online Vikalp, Current Affairs, Current Awareness, General Awareness, Aptitude Classes, Daily News, General Knowledge, General Awareness For All Competitive Exam, current affairs quiz,current affairs in india, current affairs about sports, current affairs and gk, current affairs about india, current affairs daily quiz, current affairs dairy, current affairs education, Top News, Breaking News, Latest News

Wednesday, January 31, 2018

Current Affairs - 31 January 2018

by , in

General Affairs 

Third Scorpene-class submarine Karanj will be launched tomorrow
  • The third Scorpene-class submarine Karanj will be launched at Mazagon Dock Shipbuilders Ltd tomorrow. Admiral Sunil Lanba, chief of the Naval Staff, will be the chief guest on the occasion.

    The state-of- the-art technology utilized for construction of the Scorpene-class submarines has ensured superior stealth features such as advanced acoustic silencing techniques, low radiated noise levels, hydro-dynamically optimized shape and the ability to launch a crippling attack on the enemy using precision guided weapons. The attack can be launched with both torpedoes and tube launched anti-ship missiles, whilst underwater or on surface. The stealth of this potent platform is enhanced by the special attention given to various signatures. These stealth features give it an invulnerability, unmatched by most submarines.

    A sophisticated and state-of-the-art Shore Integration Facility has been developed at MDL for integration and simulation of various equipments of the Scorpene submarine combat system for which there was no facility available in the country.

    Sub-section fabrication of the pressure hull was honed down to an art in MDL. The fabrication was broken up into multiple activities and detailed time-motion studies carried out to arrive at precise time required in quantum of half day to complete an activity. Close monitoring, proactive resolution of problems and concerted efforts to keep the assembly line moving resulted in MDL completing critical sub section fabrication of all six submarines, eleven months before the PERT date. Further the time taken to complete the fabrication of the 16 sub sections of a submarine came down from 39 months in Boat 1 to 20 months in Boat 2. This time frame of 20 months has been accepted by the collaborators, M/s NG, as higher than their standards.

    Further, the number of defects experienced during the fabrication of sub sections of the boats fell from 165 on Boat 1 to 14 on Boat 6.

    Scorpene submarines can undertake multifarious types of missions i.e Anti-Surface warfare, Anti-Submarine warfare, intelligence gathering, mine laying, area surveillance etc. The submarine is designed to operate in all theaters, with means provided to ensure interoperability with other components of a Naval Task Force. It is a potent platform, marking a generational shift in submarine operations.

    Last year, on 14 December, INS Kalvari, the first Scorpene-class submarine was commissioned into the Indian Navy, by Prime Minister. Khanderi, the second Scorpene-class submarine was launched at MDL in January 2017, and is currently undergoing the rigorous phase of sea trials and is also scheduled to be delivered shortly. MDL has more than lived up to its reputation as a premier shipbuilding yard under the Department of Defence Production, which has greatly facilitated all aspects of this prestigious and critical defence project.

    Leveraging the experience and the transfer-of-technology of the Scorpene project, with enhanced and upgraded infrastructure, MDL, is ready for undertaking construction of the next generation submarines.

CM Yogi Adityanath breaks silence on Kasganj violence, warns of strict action
  • Chief Minister Yogi Adityanath today broke his silence on Kasganj violence promising action against those involved even as politics brewed over the clashes with Union Minister Giriraj Singh claiming that media would have chosen a "different" line if the killed youth was from the majority community.

    Another BJP hardliner Vinay Katiyar, known for his controversial utterances, also waded in the row saying there were some "miscreants who support Pakistan" who could go to any extent to defy the tricolour.

    Our government is committed to provide security to each and every citizen. Anarchy has no place in the state.
    - Chief Minister Yogi Adityanath
    Adityanath warned of "strict action" against the perpetrators of violence.

    Meanwhile, Union Minister Giriraj Singh said that he felt the violence was pre-planned.

    "Had the deceased been Mohammad Ismaayil instead of Chandan Gupta, there would be been a different debate in the media... We have to change this mindset," Giriraj Singh told reporters here.


    The Union minister said he felt the Kasganj incident was "pre-planned" adding that the Adityanath government would not spare anyone involved.

    Giriraj Singh also referred to Bareilly District Magistrate Raghvendra Vikram Singhs comments on Facebook that appeared to blame right-wing groups for provoking communal clashes.

    "I have come to know that a bureaucrat has made some remarks on why some are raising Pakistan Murdabad slogans. I want to ask why not raise Pakistan Murdabad slogan. We raise this slogan as Pakistan kills our soldiers and is involved in spreading cross border terrorism," the minister said.

    The DMs now-deleted post said a "strange trend" that had begun of late was to visit Muslim majority areas and raise slogans against Pakistan.

    "Why? Are they (Muslims) Pakistanis?" The same thing had happened in Khailam village of Bareilly. Then stones were thrown, FIRs lodged," the officers post had said.

    A short service commission Army officer before joining the civil services, Raghvendra Vikram Singh, 59, was last year posted as the district magistrate of Bareilly, about 100 km from Kasganj.

    He put up the Facebook post on Sunday, just two days after 22-year-old commerce student Chandan Gupta died in communal clashes that broke out in a Muslim-majority locality of Kasganj during a Tiranga bike rally by members of the local unit of the RSS-affiliated students group ABVP.


    Minister of State for Food Processing Sadhvi Niranjan Jyoti said the incident should not be politicised.

    BJP MP Vinay Katiyar, however, told a news channel that those who "support Pakistan" were behind the violence.

    Earlier, there were no communal clashes in Kasganj district as all lived in harmony. But it has come to light that there are some miscreants who support Pakistan and will go to any extent to defy the tricolour. They need to be dealt with strictly.

    "Nothing like this had happened in the state under Yogi Adityanath's government, this is a first such incident which has taken place," Katiyar asserted expressing confidence that action will be taken.

    Stray incidents of violence were reported from the western Uttar Pradesh town which continued to be tense with a heavy deployment of RAF and PAC personnel to keep a check on rumour mongers and trouble makers.

    A shopkeepers store was burnt down in the communal violence-hit district last night. "I have been living and working here for the past 20 years. Even though I am the only Muslim among a Hindu majority, we never had any problems," the shopkeeper said.

    Meanwhile, a middle-aged person, Rahul Upadhyay, today scotched rumours being spread on the social media that he was killed in clashes.

    "One of my friends informed me about rumours on the social media about me getting killed during the violence, but I was not present in Kasganj. I had gone to my village and am absolutely fine," Upadhyay said.


    The Uttar Pradesh government has come under fire over the clashes with even Governor Ram Naik terming the Kasganj violence a "blot" on the state. Opposition parties have also attacked the state government over the clashes.

    The Adityanath government has already replaced the district's Superintendent of Police.

    Director General of Police OP Singh has said those behind the violence will be dealt with under the ambit of the National Security Act. Over 100 people have been sent to jail under various sections of the Indian Penal Code for their alleged role in the violence.

    A Peace Committee has been formed by the district administration. It has been doing the rounds of the troubled areas requesting people not to pay heed to rumours. Some illegal arms were also recovered during raids, an official said.

    Meanwhile, answering to a question on Kasganj, Union Home Minister Rajnath Singh said that there was no question of asking for a report on the issue from the state government. He added that the state governments usually send such reports to the Home Ministry during such incidents.

To improve ties, Sushma Swaraj set to visit Nepal beginning of February
  • Even as the political situation in Nepal remains fluid, External Affairs Minister Sushma Swaraj will embark on a visit to the Himalayan nation on February 1-2, a statement by the Ministry of External Affairs said on Monday.

     "The visit is in keeping with the tradition of regular high-level political exchanges between India and Nepal, and reflects the expanding bilateral partnership and the importance that the two countries attach to further strengthening it across diverse sectors," the MEA statement said.

     "The upcoming visit will provide an opportunity to hold discussions with political leaders of Nepal on issues of mutual interest, and to advance age-old, special ties of friendship between India and Nepal," the statement said.

     Sushma Swaraj's visit will come in the wake of the parliamentary and local body elections last year that saw a Left parties' coalition gaining the majority in parliament.

     Communist Party of Nepal-Unified Marxist-Leninist (CPN-UML) Chairman K.P. Sharma Oli is being widely seen as the country's Prime Minister-in-waiting.

     Oli, who is seen as pro-China and who fiercely opposed Constitution amendment in the past, said in Pokhara city on Friday that he was ready to amend the Constitution.

     The CPN (Maoist Centre) led by Pushpa Kamal Dahal "Prachanda" became the second largest party by winning 36 seats in Parliament and 73 seats in provincial assembly under the first past the post (FPTP) category.

     The Nepali Congress (NC), which was the largest party in the last election, managed to win 23 seats in Parliament and was elected in 45 provincial constituencies. It became the third largest party this time.

     Sushma Swaraj's upcoming visit also assumes significance as India is a major development partner for Nepal.

AAP-BJP meet over Delhi sealing drive ends in chaos, cops escort BJP leaders out of CM Kejriwal's house
  • BJP and AAP leaders met on Tuesday morning at Delhi Chief Minister Arvind Kejriwal's residence to find a solution to the ongoing sealing drive in Delhi markets.

    However, the discussion soon took a chaotic turn as leaders from both the parties exchanged heated words.

    The meeting barely lasted ten minutes before BJP Delhi state president Manoj Tiwari and his delegation walked out of Kejriwal's house, following which protests were carried and slogans were hurled against BJP.

    Police, who escorted the BJP leaders from the area, also got into a scuffle with several protestors from AAP who were chanting slogans.

    AAP MLA Jarnail Singh said, "They had come to the CM's house for mere drama. They are politicising the issue and do not wish to find a resolution. This was just a photo opportunity for them.”

    In the meeting Arvind Kejriwal told BJP chief Manoj Tiwari that they should find a resolution and approach the Lieutenant Governor of Delhi together as the city's traders were suffering due to the sealing drive.

    Tiwari responded to Kejriwal saying, "We gave enough time but you never replied, instead you’ve called the media and created a ruckus.”

    In the midst of the discussion, leaders from both the parties continued to argue with each other as they blamed one another for the inaction.

    Disappointed with the unproductive meeting and the ruckus that followed, Kejriwal, took to Twitter where he wrote, "I made a sincere request to our BJP friends to sit down, discuss and together find a soln [solution] to sealing. However, they just walked out. I am disappointed. Solns [solutions] can be found only thro [through] discussions in democracy."

    On Tuesday, Arvind Kejriwal will hold a press conference before personally heading to various markets to meet traders affected by the sealing drive.

Frequent elections impede development process: President Kovind pitches for ‘one nation, one election’
  • Buzz is growing louder that the Centre might advance the Lok Sabha elections to December 2018 simultaneously with assembly polls in three big states – Madhya Pradesh, Chhattisgarh and Rajasthan. What added strength to the speculation was President Ram Nath Kovind also making pitch for one election in the country, saying frequent polls posed a huge burden on resources and impeded the development process.

    Addressing the joint session of the Parliament on Monday, his maiden since assuming the office, Kovind said that frequent elections in one part of the country or the other adversely affected country’s economy and development.

    “Frequent elections not only impose a huge burden on human resources, but also impede the development process due to the promulgation of the model code of conduct,” Kovind said.

    “Dream of a New India does not belong to one political party or organisation.... To fulfil this dream, we all have to work together with complete dedication,” he added.

    This comes at a time when the BJP-led central government has already begun preparing the roadmap for implementing “One Nation, One Election”. Mail Today had reported on January 12 that the BJP has mobilised its cadre to begin deliberations so as to reach a consensus on holding simultaneous elections for the Lok Sabha and the state legislative assemblies.

    The BJP is of the view that the matter (simultaneous elections) needs to be discussed in public so as to create awareness and address practical difficulties in its implementation.

    Last week RSS-affiliated Rambhau Mhalgi Probodhini also held a two-day seminar on simultaneous elections wherein leaders from all political parties agreed to the concept of one election in the country.

    The two-day seminar saw participation from various political parties as well as the NITI Ayog.

    Five major issues were discussed – hazards of multiplicity of elections, concept and implementation related issues in simultaneous elections, no-confidence and dissolution of house related issues, idea of aligning local body elections with general elections and experiences of simultaneous polls abroad.

    Sources in BJP said the top leadership was considering holding simultaneous elections in December 2018 that will also assess the preparations and viability of holding Lok Sabha and Assembly polls together.

    Almost all political parties, during initial discussions, have supported the idea, though they have pointed out the practical difficulties in implementing the plan. However, the Congress has termed the move “unworkable and impractical”.

    The Election Commission of India has also expressed similar views on holding simultaneous elections.

Business Affairs

Out of 909 trading days, Sensex closed higher on 489 days since Modi govt came to power
  • Stock market investors' wealth rose by Rs 69.92 lakh crores since the BJP came into power in May 2014. The market capitalization of BSE rose from Rs 85.2 lakh crores in May 2014 to Rs 155.13 lakh crores in Jan 2018. Sensex gained over 11,500 points and zoomed from 24,716 on 26 May 2014 to 36,283 on 29 Jan 2018 thereby providing an annualised returns of 11% each year.

    The markets are on a consistent bull run since December 2016 but the intensity of upsurge has increased from December 2017. Sensex jumped from 32500 levels to over 36000 level in just 34 trading days. Out of 909 trading days since BJP came into power, on 489 trading days sensex closed higher than the previous day. It made 86 new highs based on its closing price. In the year 2014 (since 26 May 2014), it made 29 new highs. In 2015, sensex made 6 new highs. In the year 2016, sensex did not make any new high (the last new high was 29687 in Jan 2015, the sensex value remained less than 29687 in the year 2016). In the year 2017, sensex made 38 new highs and in 2018 it made 13 new highs till January 29.

    The recent bull run is attributed to the abundant liquidity, Q3 earnings optimism and favourable expectations from the Union Budget. Hopes of increased outlays to infrastructure and rural sector are attracting investors to FMCG and infra stocks. The rally is supported by ample buying by FPIs that invested over Rs 24,700 crores in equities between April 2017 and January 2018. After demonetisation, investors are reallocating money from property and gold into stock markets which is also fuelling the market rally.

    However, the surge in stock prices has created valuation concerns as the Indian markets are trading at premium of nearly 35% to other Asian markets. Sensex is trading at PE of 26.4 times its trailing twelve month earnings. The average PE of sensex since May 2014 is 20.8. The numbers clearly shows that Indian markets are overvalued. The experts believe that markets are not in sync with the economic fundamentals as private sector capital expenditure is not yet revived. In addition, stagnant corporate earnings and lack of demand makes the valuations unsustainable.

    Chief Economic Advisor, Arvind Subramanian has cautioned investors and recommended increased vigilance as he suspects a bubble like situation in the stock markets. The rising oil prices pose significant risk as it could affect consumption and GDP growth. The rising import bill will fuel inflation that will put upward pressure on interest rates. According to CEA, such risks could stall foreign investment inflows and will lead to significant correction in the stock markets.

SBI hikes interest rates on term deposits above Rs 1 crore by 50-140 bps
  • The State Bank of India had hiked interest rates on domestic bulk term deposits by as much as 140 basis points. This is the second hike in interest rates on bulk term deposits in a time span of two months. It comes around the time when government has announced to inject Rs 88,139 crore in public sector banks. The last increase in bulk term deposit interest rates was put into effect in November.

    With the new rates into effect, bulk term deposits for a tenor of 7 to 45 days have been increased by 50 basis points to 5.25 per cent per annum from 4.75. Deposits that mature between 46 days and two years will yield interest of 6.25 per cent every year. Those with a maturity period of two to ten years will have 6.00 per cent interest rate per annum.

    The rate of interest paid to senior citizens on term deposits of Rs 1 crore or more has also been increased. For 7 to 45 days, they will be paid 5.75 per cent interest per annum, 6.75 for 46 days to two years, and 6.50 for two to ten years. With this hike, now bulk deposits with SBI will offer as much interest rate as the retail term deposits. Interest rates on retail term deposits have been kept unchanged.

    The increase in bulk term deposits interest rates is a realignment of rates as the competing banks were offering better interest rates on term deposits, PK Gupta, Managing Director, SBI was quoted by Business Standard. The hike will not have any significant impact on SBI's cost of funds as the portion of bulk deposits against total deposits with the bank is quite small, Gupta added.

    The SBI had increased interest rates on deposits between Rs 1 crore and Rs 10 crore by 100 basis points back in November last year. This move came on the heels of 25 basis points reduction in interest rates on deposits under Rs 1 crore. These recent tweaks in interest rates are reflections of tightening liquidity as they bridge the gap between retail and bulk term deposits.

Holy smoke! Drug peddler files I-T returns for 'annual income' of Rs 40 lakh, held
  • If your perception of India is that of a country with people who love to avoid paying taxes, think again. It's also home to people like 34-year-old 'labourer-turned drug peddler' Rachappa Ranga from Karnataka whose entire business was built on drug money but still complied with India's tax laws by filing the I-T returns on his 'annual income' of Rs 40 lakh.

    The irony of the situation is that even though his entire business was build on smuggling drugs, and hence destroying lives of hundreds of people, he thought it would be somewhat 'legal and patriotic' to file the I-T returns. Or maybe he thought he would be honoured, or spared from the police action for declaring his 'black money'.

    Another proof of his income can be measured from the fact that Rachappa paid Rs 40,000 as monthly rent for living in a villa. The police said he roamed in a swanky car and also owned a property in his native village.

    Under the guise of being a construction labourer, this so called "tax payer", who has has studied till Class 10, ran a big drug-peddling racket that recruited poor youths, and earned crores of rupees, reported Times of India. Rachappa came under the police radar after he filed his I-T returns, and cops started keeping a tab on his activates. Rachapa, along with his associate Srinivas of Chandapura, was arrested with 26kg ganja and Rs 5 lakh cash. The police have also seized his mobile phone and car.

    According to the police, he came from his village to earn living as a construction labourer but soon got lured towards drugs before fully indulging in drug peddling in 2013. The police said they got a tip-off that Rachappa and his gang members were meeting at a hotel with a consignment of contraband. The cops raided the hotel and arrested both the accused but the drug supplier, Sashu, fled the spot. Meanwhile, the I-T department officials are now scrutinising Rachappa's I-T papers.

    The police claim he was a top quality ganja supplier, who sold at least 30kg ganja a day for a price of Rs 35,000 per kg.

IOCL Q3 net profit up two-fold to Rs 7,883 crore
  • Indian Oil Corp (IOC) today reported near doubling of third quarter net profit to Rs 7,883 crore on back of higher refining margins and inventory gains.

    IOC Chairman Sanjiv Singh said the company board at its meeting today approved a 1:1 bonus share.

    Net profit in the third quarter of last fiscal was Rs 3,995 crore.

    The company earned USD 12.32 on turning every barrel of crude oil into fuel as compared to a gross refinery margin (GRM) of USD 7.67 per barrel in same period last fiscal.

    The company made an inventory gain of Rs 6,301 crore in October-December as compared to Rs 3,051 crore in same period of last fiscal.

Farmer groups demand loan waiver in Union Budget 2018
  • A coalition of civil society groups has asked Narendra Modi government to announce a Rs 200,000 crore agricultural debt relief package in the forthcoming Union Budget 2018.

    The coalition wants this amount, along with a matching contribution from state governments, to be used to provide meaningful debt relief to distressed farmers across the country. At least 25 percent of the package should go as debt relief from non-institutional loans to tenant farmers, sharecroppers, adivasi farmers and women farmers who did not have access to institutional loans, it says.

    "Modi government has failed Indian farmers on multiple fronts. It is the most anti-farmer central government ever", said Yogendra Yadav of Swaraj India, a coalition partner. He listed out a dozen reasons for terming it as anti-farmer, including the failure of the central government to double the farmers' income, provide price protection to farm produce and taking the lead in providing debt relief.

    The coalition also reviews all the flagship social sector projects of the Modi government to suggest "stingy allocations and shoddy implementation".

    In a "Green Paper", brought out in the context of the Budget, the groups called for the establishment of a Farmers Income Commission to find a permanent solution to address the agri-concerns.

    A 10-point budget demand of the coalition includes a major increase in minimum price support for agriculture commodities, a Rs 25,000 crore outlay towards the existing Disaster Mitigation Fund, increased outlay for irrigation, risk reducing ecological agriculture, and the job guarantee scheme MNREGA. It also calls for the formation of a Credit Guarantee Fund to increase bankers' confidence in lending to non-land owning licensed cultivators or lessee farmers.

    The coalition has also decided to hold a meeting of farmers' representatives from all parts of the country in a village in Greater Noida, near Delhi on February 1 to assess the Union Budget. The civil society groups who are part of the coalition are Kisan Swaraj Alliance, Jai Kisan Andolan, NREGA Sangharsh Morcha, People's Action on Employment Gurarantee, Rythu Swarajya Vedika and Swaraj India.

General Awareness

  • 1. What is the minimum capital requirement for New Banks in the Private Sector?
    a) Rs. 200 crore
    b) Rs. 300 crore
    c) Rs. 500 crore
    d) Rs. 600 crore
    e) None of these

    2. Many times we read a term "ECB" in financial newspapers. What is the full form of ECB?
    a) Essential Commercial Borrowing
    b) Essential Credit and Borrowing
    c) External Credit and Business
    d) External Commercial Borrowing
    e) None of the above

    3. Which among the following banks has launched "Dhanchayat" an educational film to raise awareness on the dangers of borrowing money from unorganised sources?
    a) Axis 
    b) ICICI
    c) HDFC 
    d) SBI
    e) YES

    4. What is the maximum monthly pension for the subscribers under Atal Pension Yojana?
    a) Rs 2000 
    b) Rs 3000
    c) Rs 4000 
    d) Rs 5000
    e) None of these

    5. If a company which is not a non - banking financial company wants to collect public deposits, it is governed by ___ Act:
    a) RBI Act 1934
    b) Banking companies Act
    c) Companies Act 1956
    d) Central Government
    e) None of the above

    6. Which among the following has launched a Smart Humsafar Plan, a unique plan which offers multiple benefits of savings and insurance cover for husband and wife under a single policy?
    a) ICICI Prudential
    b) SBI Life 
    c) NIACL
    d) LIC 
    e) HDFC ERGO

    7. Which country launched world first Facial recognition ATM?
    a) China 
    b) Japan
    c) US 
    d) Canada
    e) Brazil

    8. Which type of machine is used by Business Correspondents?
    a) Micro ATMs 
    b) POS
    c) Biometric Card Reader
    d) Solar empowered
    e) Water resistant

    9. Which among the following bank has tied up with Chinese ecommerce giant Alibaba to provide easier trade finance to small and medium enterprises (SMEs) in the country?
    a) HDFC Bank
    b) SBI Bank
    c) Canara Bank
    d) ICICI Bank 
    e) Axis Bank

    10. In India, conventionally, bonds are issued by institutions in ____ sector while debentures by corporate in ____ sector.
    a) private, public
    b) public, private
    c) either a or b
    d) cooperative, NBFC
    e) None of the above

    11. What is the name of the platform launched by State Bank of India (SBI) that enables customers to book their foreign exchange transactions online?
    a) SBI eforex
    b) SBI emoney
    c) SBI eonline
    d) SBI eshare
    e) SBI ebuddy

    12. In CDR, "R" stands for ____.
    a) Ratio 
    b) Receipt
    c) Regulation 
    d) Restructuring
    e) Reserve

    13. Which of the following is not a function of General Insurance?
    a) Cattle Insurance
    b) Crop Insurance
    c) Marine Insurance
    d) Fire Insurance
    e) None of the above

    14. The Bank for International Settlements (BIS) is the world's oldest international financial organization established on 17 May 1930. The mission of the BIS is to serve central banks in their pursuit of monetary and financial stability, to foster international cooperation
    in those areas and to act as a bank for central banks. The head office of BIS is located in ___.
    a) Hong Kong 
    b) Switzerland
    d) Mexico
    e) Australia

    15. National Investment and Infrastructure Fund (NIIF) is a fund created by the Government of India for enhancing infrastructure financing in the country. To be operational by the year end, the headquarter of NIIF will be located in ____.
    a) Mumbai 
    b) New Delhi
    c) Bengaluru 
    d) Chennai
    e) Kolkata

    16. Special Drawing Rights (SDRs) are international foreign exchange reserve assets issued by
    a) World Bank 
    b) WTO
    c) ADB 
    d) IMF
    e) None of these

    17. Which of the following types of accounts are known as "Demat Accounts"?
    a) Zero Balance Accounts
    b) Accounts which are opened to facilitate repayment of a loan taken from the bank. No other business can be conducted from there
    c) Accounts in which shares of various companies are traded in electronic form
    d) Accounts which are operated through internet banking facility
    e) None of the above

    18. 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

    19. Payment of a cheque may be countermanded by the ___
    a) Payee 
    b) Drawer
    c) True owner 
    d) Drawee
    e) None of these

    20. 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) 31st December 2015
    b) 1st January 2016
    c) 31st March 2016
    d) 1st April 2016
    e) 1st June 2016

    21. Identify the well known person related to Banking field in India from the following?
    a) Mrs. Meira Kumar
    b) Mrs. Kiran Shaw
    c) Mr. Arun Jaitley
    d) Dr. D Subbarao
    e) All of the above

    22. A fixed deposit receipt is kept with the bank for its safety, is known as ___?
    a) Safe custody
    b) Safe deposit
    c) Locker
    d) Valid safe deposit
    e) None of the above

    23. Reserve Bank will issue ___bank notes with 3 additional features to aid the visually impaired in identification.
    a) Rs. 500 and Rs 1,000
    b) Rs. 100 and Rs. 500
    c) Rs. 50 and Rs. 100
    d) Rs. 10 and Rs. 100
    e) None of these

    24. Simply click a card launched by SBI special for ____.
    a) Cash Transfer
    b) Online Shopping
    c) Pay Utility Bills
    d) For Home Loans
    e) None of these

    25. Banking Companies are prohibited under Sec 8 of banking Regulation Act to sell and purchase securities. Yet Banks are selling securities (of the customer) which are under pledge as permitted by:
    a) Indian Contract Act
    b) SARFAESI Act
    c) Government Notification
    d) Banking Regulation Act
    e) None of these

    26. Hypothecation is:
    a) Atransaction of conditional sale
    b) A legal transaction whereby goods may be made available as security for a debt
    c) Transfer of ownership by the borrower to the lender
    d) Either a or b
    e) None of the above

    27. Mortgage is a:
    a) Security on movable property for a loan
    b) Security on immovable property for a loan
    c) Concession on immovable property
    d) Facility on immovable property
    e) Security on loan sanctioned against fixed deposits

    28. What is the minimum amount to be invested under Sukanya Samriddhi Scheme?
    a) Rs. 500 
    b) Rs. 1000
    c) Rs. 1500 
    d) No ceiling
    e) Rs. 100

    29. The Main activity of the Financial Intelligence Unit India (FIUIND) is to control:
    a) Tax Evasion
    b) Money Laundering
    c) Terrorism
    d) Avoiding NPAs
    e) Avoiding frauds in ATMs

    30. 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

    31. The main function of an Asset Management Company is to:
    a) hold the securities of various schemes
    b) manage the funds by making investments in various types of securities
    c) hold its property for the benefit of the unit holders
    d) act on behalf of SEBI
    e) All the above

    32. Global Rating Agency Fitch has downgraded Viability Rating (VR) by one notch to 'bb' of which among the following banks?
    a) Bank of Baroda
    b) State Bank of India
    c) Punjab National Bank
    d) Canara Bank
    e) IDBI Bank

    33. The Banking Codes and Standards Board of India was registered on 18th February, 2006 under which of the following RBI Act?
    a) Banking Regulation Act
    b) The Societies Registration Act, 1860
    c) Cooperative Societies Act
    d) None of the above
    e) All the above

    34. As per the Banking Ombudsman Scheme, any person can file a complaint before the Banking Ombudsman, if the satisfied reply is not received from the bank within a period of ____.
    a) one month 
    b) three months
    c) two months 
    d) six months
    e) None

    35. CIBIL as a credit bureau caters to:
    a) Consumer segments
    b) Commercial segments
    c) Both commercial and consumer segments
    d) Nationalized Banks only
    e) Private Banks only

    36. Infusion of liquidity, by RBI, is done through _____ from / to banks under a _____ transaction.
    a) borrowing, repo
    b) borrowing, reverse repo
    c) lending, repo
    d) lending, reverse repo
    e) None of the above

    37. Some banks are financing big projects like construction of roads, bridges etc. Financing such projects means banks are helping exactly in:
    a) Infrastructural Development
    b) Project Management
    c) Developing core sector Industry
    d) Financial Inclusion
    e) All of the above

    38. A rate of exchange established between any two currencies on the basis of the respective quotation of each currency in terms of a third currency is known as:
    a) Cross rate 
    b) Merchant rate
    c) Wash rate 
    d) Composite rate
    e) None of the above

    1) c; 2) d; 3) c; 4) d; 5) c; 6) b; 7) a; 8) c; 9) d; 10) b;
    11) a; 12) d; 13) e; 14) b; 15) a; 16) d; 17) c; 18) c; 19) b; 20) d;
    21) d; 22) a; 23) a; 24) b; 25) d; 26) b; 27) b; 28) b; 29) b; 30) b;
    31) b; 32) c; 33) b; 34) a; 35) c; 36) c; 37) a; 38) a.

Featured post

Current Affairs - 16 December 2018

General Affairs   Cyclone Phethai Gathers Over Bay Of Bengal, May Hit Andhra On Monday ...

Copyright © 2016. Vikalp Education