Current Affairs Questions for SBI PO/Clerk Exam: 7th July 2018

Dear Aspirants,

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Current Affairs Quiz Based on The Hindu: 7th July

The General Awareness Section of Banking Exams covers numerous sections in it like Banking Awareness, Static GK, and Current Affairs. But the most important thing that you might have noticed is that both the Banking Awareness and Static Awareness questions asked in the General Awareness Section are based on Current Affairs only. The questions on Static and Banking Awareness are related to the countries, events or anything that has been in news for a while. Apart from the GA Section, an excellent knowledge of current news also helps you deal with the PI (Personal Interview) more efficiently so you do not give a mumble jumble answer to the interviewee's simple questions. Here is a quiz on Current Affairs to let you assess your Current Affairs Knowledge.

Q1. Karnataka Chief Minister HD Kumaraswamy presented his government's first budget. He announced a farm loan waiver of ______________ in his budget. 
(a) Rs45,000 crore
(b) Rs34,000 crore
(c) Rs50,000 crore
(d) Rs25,000 crore
(e) Rs40,000 crore
S1. Ans.(b)
Sol. Karnataka Chief Minister HD Kumaraswamy presented his government's first budget. He announced a farm loan waiver of Rs34,000 crore. The Loans of up to Rs2 lakh for each farmer will be waived. Farmers who repaid the loan within time will be credited the repaid loan amount or Rs25000 whichever is less. Apart from the loan waiver announced by Kumaraswamy, Rs 4,000 crore has been allocated in the budget to complete the Rs 8,165 crore waiver of farm loans from cooperative banks.

Q2. The Indian Space Research Organisation (ISRO) successfully carried out a flight test for a newly-designed ___________ which is meant for saving lives of astronauts in an exigency.
(a) Crew Exit System
(b) Member Escape System
(c) Crew Escape System
(d) Member Exit System
(e) None of the given options is true
S2. Ans.(c)
Sol. The Indian Space Research Organisation (ISRO) successfully carried out a flight test for a newly-designed Crew Escape System. It is meant for saving lives of astronauts in an exigency. According to ISRO, the first ‘Pad Abort Test’ demonstrated the safe recovery of the crew module in case of any exigency at the launch pad.

Q3. Which of the following state High Court accorded the status of ‘legal person or entity’ to the animals in the state, in a first?
(a) Himachal Pradesh
(b) Meghalaya
(c) Karnataka
(d) Uttarakhand
(e) Odisha
S3. Ans.(d)
Sol. In a first, the Uttarakhand High Court accorded the status of ‘legal person or entity’ to the animals in the state. The HC stated that "they have a distinct persona with corresponding rights, duties and liabilities of a living person."

Q4. How many countries have been tagged as “high-risk jurisdictions” by global banks acting as custodians for foreign funds which comprise the largest group of investors in the Indian stock market?
(a) 5
(b) 10
(c) 15
(d) 20
(e) 25
S4. Ans.(e)
Sol. China, UAE, Cyprus and significantly, Mauritius, along with 21 other countries have been tagged as “high-risk jurisdictions” by global banks acting as custodians for foreign funds which comprise the largest group of investors in the Indian stock market. SEBI - registered foreign portfolio funds invest in India through 56 countries. Of these, 25 are now considered ‘high risk’.

Q5. The Finance Ministry has kept the interest rates on small savings schemes, including NSC and PPF, unchanged for the July-September quarter. The interest rate on Public Provident Fund (PPF) is _________________.
(a) 7.6%
(b) 7.3%
(c) 7.1%
(d) 8.6%
(e) 8.1%
S5. Ans.(a)
Sol. The Finance Ministry has kept the interest rates on small savings schemes, including NSC and PPF, unchanged for the July-September quarter. The move is aimed at matching the hardening interest rates in the banking sector. Interest rates for small savings schemes are notified on a quarterly basis. The interest rate on Public Provident Fund (PPF) has been kept unchanged at 7.6%.

Q6. Name the central paramilitary force that has become the first to opt for e-ticketing instead of the railway warrant under an agreement signed with the IRCTC. 
(a) Border Security Force
(b) Central Industrial Security Force
(c) National Security Guard
(d) Indo Tibetan Border Police
(e) Sashastra Seema Bal
S6. Ans.(c)
Sol. The National Security Guard will be the first central paramilitary force to opt for e-ticketing instead of the railway warrant under an agreement signed with the IRCTC.

Q7. Name the bank that has recently announced that its mortgage loan portfolio crossed the Rs 1.5-trillion milestone, making it the largest private player in the segment.
(a) Axis Bank
(b) HDFC Bank
(c) IDBI Bank
(d) ICICI Bank
(e) Karur Vyasya Bank
S7. Ans.(d)
Sol. ICICI Bank has announced that its mortgage loan portfolio crossed the Rs 1.5-trillion milestone, making it the largest private player in the segment, and the lender is targeting to grow it to Rs 2 trillion by FY20.

Q8. Name the lender that has announced that it has received final regulatory approval from the Securities & Exchange Board of India (SEBI) to start mutual fund business.
(a) SBI
(b) YES Bank
(c) HDFC Bank
(d) ICICI Bank
(e) Allahabad Bank
S8. Ans.(b)
Sol. Private lender YES Bank announced that it has received final regulatory approval from the Securities & Exchange Board of India (SEBI) to start mutual fund business. This approval is subsequent to the Reserve Bank of India's (RBI) approval. YES Asset Management (India), a wholly owned subsidiary of YES Bank, will launch fund offerings across the spectrum in both debt and equity markets over the next 6-12 months.

Q9. The Law Commission recommended that gambling and betting on sports, including cricket, be allowed as regulated activities taxable under the direct and indirect tax regimes and used as a source for attracting foreign direct investment (FDI). Who is the present Minister of Law and Justice?
(a) Ravi Shankar Prasad
(b) D. V. Sadananda Gowda
(c) Jagat Prakash Nadda
(d) Narendra Singh Tomar
(e) Harsimrat Kaur Badal
S9. Ans.(a)
Sol. The Law Commission recommended that gambling and betting on sports, including cricket, be allowed as regulated activities taxable under the direct and indirect tax regimes and used as a source for attracting foreign direct investment (FDI). The commission's report, 'Legal Framework: Gambling and Sports Betting including Cricket in India', recommends a number of changes in the law for regulating betting and generating tax revenues from it. Ravi Shankar Prasad is the present Minister of Law and Justice.

Q10. National Security Guard (NSG) is Federal Contingency World Class Zero Error Force to deal with anti-terrorist activities in all its manifestations. It was established in ___________.
(a) 1947
(b) 1965
(c) 1999
(d) 1984
(e) 1971
S10. Ans.(d)
Sol. National Security Guard (NSG) is Federal Contingency World Class Zero Error Force to deal with anti-terrorist activities in all its manifestations. It was established in 1984. Sudeep Lakhtakia is the present Director General of NSG.





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