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August 03, 2016

Economy and Banking Awareness Quiz 2016

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  1. Who was appointed as the new Chief Economist of World Bank on 18 July 2016 ?
    1. Hollis Bumley Chenery
    2. Raghuram Govind Rajan
    3. Paul Romer
    4. Arvind Subramanian
    5. Takehiko Nakao 
  2. To maintain price stability, while keeping in mind the objective of growth, RBI Act 1934 has been amended by the Finance Act, 2016 to provide for a statutory and institutionalized framework for MPC. In this context, MPC stands for _______________
    1.  Money Policy Committee
    2. Monetary Prime Committee
    3. Monetary Public Committee
    4. Maintain Policy Committee
    5. Monetary Policy Committee 
  3. Monetary Policy Committee will consist of how many members ?
    1. 4
    2. 10
    3. 6
    4. 18
    5. 12 
  4. In the Monetary Policy Committee, the six members are _______________
    1.  Two members represented from RBI and four members selected by government of India.
    2. Three from RBI, one from Commercial banks and two represented by govem-ment of India.
    3. One from RBI, five members sends by government of India.
    4. Three members represented from RBI and three members appointed by Central Government.
    5. In the amended Act, the composition of MPC not mentioned. 
  5. Who is the ex-officio chairperson of the Monetary Policy Committee (MPC)?
    1.  Finance Secretary, Government of India
    2. Finance Minister
    3. RBI Governor
    4. Chief Economic Advisor to Government of India
    5. Prime Minister
  6. Union Government appoints three members to the Monetary Policy Committee (MPC) on the recommendations of a Search-cum-Selection Committee, which will be headed by
    1.  Cabinet Secretary
    2. Finance Secretary
    3. Principal Secretary to PM
    4. Vice-Chairman, NITI Aayog
    5. Prime minister of India
  7. Union Government decided to bring the pro-visions of amended RBI Act 1934 regarding constitution of MPC come Into force from 27th June, 2016. Meetings of the MPC (Monetary Policy Committee) shall be held _______________ in a year and it shall publicize its decisions after each such meeting.
    1.  4 times
    2. 2 limes
    3. 3 times
    4. 12 times
    5. 6 times 
  8. RBI signs Memorandum of Understanding (MoU) on 'Supervisory Cooperation and Exchange of Supervisory Information' with _______________ on 1 July 2016.
    1.  Federal Bank, USA
    2. Bank of Japan
    3. National Bank of Cambodia
    4. Bank of England
    5. Bank of Switzerland 
  9. RBI observed that a major portion of the pre-2005 banknotes have been withdrawn from circulation and only a small percentage of these notes remain in circulation. From 1 July 2016, the facility of exchanging the pre-2005 banknotes will be available only at _______________
    1.  Branches of SBI
    2. Post-offices
    3. Few select Offices of RBI
    4. Branches of Foreign banks 
    5. Exchange not at all possible
  10. Which nation decided to hold first Zika vaccine test on humans ?
    1. UK
    2. Australia
    3. Canada
    4. Brazil
    5. Mexico 
  11. First time women combat pilots were Inducted in the Indian Air Force on 18 June 2016. They are Mohane Singh, Bhawana Kanth and _______________
    1.  Avani Chaturvedi
    2. Serie Thakral
    3. C.B. Muthamma
    4. Kiran Bedi
    5. Bachendri Pal 
  12. FSR released by RBI on 28 June 2016. It reflects the overall assessment on the stability of India's financial system and its resilience to risks emanating from global and domestic factors. In this context, FSR stands for _______________
    1.  Financial Stability Report
    2. Financial Statics Report
    3. Fiscal Stability Report
    4. Financial Standing Report
    5. Financial Stability Roll 
  13. 11th Annual Conference of the Foreign Exchange Dealers Association of India (FEDAI) held its meeting at _______________ on 21 June 2016.
    1.  Hong Kong
    2. Singapore
    3. Malaysia
    4. India
    5. Japan 
  14. State Bank of India signed MoU with which of the following IlTs to promote fintech start-ups?
    1.  IIT Madras
    2. IIT Raipur
    3. IIT Kanpur
    4. IIT Bombay
    5. IIT Hyderabad 
  15. On 26 July 2016, SBI launched a payment system at its ATMs, which allows the account holders transfer money using mobile phone number as identifier. This system works on IMT platform. In this con-text, IMT stands for _______________
    1.  Indian Money Transfer
    2. Intelligence Money Transfer
    3. Instant Money Trail
    4. Instant Mode Transfer
    5. Instant Money Transfer 
  16. Which two Indian banks recently made an agreement with global payments leader SWIFT (Society for Worldwide Interbank Financial Telecommunication) to enhance cross-border payments ?
    1.  SBI and ICICI Bank
    2. Indian Bank and Union Bank of India
    3. ICICI Bank and Axis Bank
    4. Kotak Mahindra Bank and SBI
    5. HDFC and Corporation Bank 
  17. Union government announced a sum of Rs.22, 915 crore for recapitalization of how many public sector banks on 19 July 2016 ?
    1. 13
    2. 21
    3. 8
    4. 10
  18. Which bank received the largest allocation of Rs.7,575 crore out of Rs.22,915 crore capital Infusion of government of India?
    1. Indian Overseas Bank
    2. Punjab National Bank
    3. SBI
    4. Bank of India
    5. Union Bank of India 
  19. In the context of Capital Infusion, CAGR stands for _______________
    1. Capital Annual Growth Rate
    2. Capacity Annual Growth Rate
    3. Compound Annuity Growth Rate
    4. Compound Annual Growth Rate
    5. Clear Annual Growth Rate
  20. On 5 July 2016, Union Cabinet agreed to raise foreign share-holding to 74 % in _______________. to bring in capital inflow of around Rs.13,000 crore.
    1. ICICI Bank
    2. HDFC Bank
    3. IndusInd Bank
    4. Kotak Mahindra Bank
    5. Axis Bank 
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