IBPS RRB PO/Clerk Main Banking Awareness Quiz: 19th August 2019

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IBPS RRB PO/Clerk Main Banking Awareness Quiz

With the increased competition in the field of banking examinations, it has now become very important to cover up all the sections efficiently. One subject that can help you bagging graceful marks in the minimum time in these examinations is Banking Awareness. Banking Awareness Quiz not only helps you deal with the General Awareness Section of Banking Exams but also, the Personal Interview round of Banking Recruitment.
Q1. Internal committee of the RBI has suggested that the foreign exchange market could function from 9 a.m. to ________ p.m. 
(a) 6 p.m.
(b) 9 p.m. 
(c) 7 p.m.
(d) 5 p.m.
(e) 8 p.m.
Q2. Softbank has invested around $250 million in Ola Electric Mobility. Softbank Group Corporation is a multinational conglomerate holding company headquartered in-?
(a) Moscow, Russia
(b) Mumbai, India
(c) Bangkok, Thailand
(d) Beijing, China
(e) Japan, Tokyo 
Q3. Finance Ministry has cut the rate of GPF by 10 basis points from 8% to 7.9% recently. What is the full form of GPF?
(a) General Provident Fund 
(b) General Provident Financial
(c) General Public Fund
(d) Government provident Fund
(e) General Partnership Follow
Q4. The Digital Communications Commission (DCC) approved the cumulative penalty of Rs ___________ on Bharti Airtel and Vodafone Idea.
(a) Rs. 1,050 crores
(b) Rs. 7,070 crores
(c) Rs. 6,050 crores
(d) Rs. 3,050 crores 
(e) Rs. 9,000 crores
Q5. Asian Development Bank lowered India’s GDP growth rate from 7.2% to ___________ for the current fiscal year.
(a) 7.10%
(b) 6.80%
(c) 7.00% 
(d) 6.90%
(e) 6.60%
Q6. Which company has announced the acquisition of chip-maker Intel”s smartphone modem business for $1 billion?
(a) Apple 
(b) IBM
(c) Dell
(d) Sony
(e) Microsoft
Q7. Which among the following organization has approved Singapore Stock Exchange and National Stock Exchange of India Ltd to operate jointly in Gujarat International Finance Tec-City, Gandhinagar? 
(a) Finance Ministry
(b) SEBI 
(c) RBI
(d) NABARD
(e) IMF
Q8. The International Monetary Fund has lowered its annual growth forecast for India from 7.3% to _____________ in financial year 2019-20. 
(a) 7.20%
(b) 6.80%
(c) 7.00% 
(d) 7.10%
(e) 6.60%
Q9. India’s forex reserves has reached the highest ever valuation of $430.57 bn. The reserves are managed by the ___________________ for the Indian government and the main component is foreign currency assets.
(a) IMF
(b) Finance Ministry
(c) NABARD
(d) RBI 
(e) SEBI
Q10. Ratings agency CRISIL has cut its forecast for India’s GDP growth by 20 basis points for FY 2019-20. Where is the headquarters of CRISIL?
(a) Bengaluru
(b) Chennai
(c) Kolkata
(d) New Delhi
(e) Mumbai 
Q11. Which Bank has entered into a corporate agency agreement with Cholamandalam MS General Insurance Company Ltd. recently?
(a) Indian Overseas Bank
(b) Bank of India
(c) Corporation Bank
(d) Indian Bank 
(e) State Bank of India
Q12. National Payments Corporation of India (NPCI) and JCB International have launched RuPay JCB Global Cards. NPCI was established in-?
(a) 2008 
(b) 2010
(c) 2009
(d) 2012
(e) 2005
Q13. Which organisation has agreed to offer Rs 1.25 trillion Line of Credit by 2024, to fund highway projects? 
(a) GIC
(b) PNB
(c) RBI
(d) SBI
(e) LIC 
Q14. ______________ has inked a pact with Haryana government to encourage and support state’s micro, small and medium enterprises (MSMEs) to raise capital.
(a) SEBI
(b) NSE
(c) BSE 
(d) IRDAI
(e) RBI
Q15. Indian Bank is an Indian state-owned financial services company established in 1907 and headquartered in-?
(a) Bengaluru
(b) Chennai 
(c) Kolkata
(d) New Delhi
(e) Mumbai
Solutions
S1. Ans. (b)
Sol. An internal committee of the RBI has suggested that the foreign exchange market could function from 9 am to 9 pm. At present, the currency market works from 9 am to 5 pm. The panel suggested call money market timings could be extended till 6 pm instead of the 5 pm now.
S2. Ans.(e)
Sol. Japanese Company Softbank has invested around $250 million in Ola Electric Mobility. With this investment, Ola Electric has become the newest unicorn of India, joining the list of companies like Flipkart, Zomato and Paytm. SoftBank Group Corporation is a Japanese multinational conglomerate holding company headquartered in Tokyo, Japan. 
S3. Ans.(a)
Sol. Finance Ministry has cut the rate of General provident fund (GPF) by 10 basis points from 8% to 7.9%. During the year 2019-2020, accumulations at the credit of subscribers to the GPF and other similar funds shall carry interest at the rate of 7.9% with effect from July 1, 2019, to 30th September 2019.
S4. Ans.(d)
Sol. The Digital Communications Commission (DCC) approved the cumulative penalty of Rs 3,050 crore on Bharti Airtel and Vodafone Idea. The penalty was imposed by Telecom Regulatory Authority of India (TRAI) for not providing points of interconnection to Reliance Jio when it entered the market.
S5. Ans.(c)
Sol. Asian Development Bank lowered India’s GDP growth rate from 7.2% to 7% for the current fiscal year. India is expected to grow by 7% in 2019 and 7.2% in 2020, slightly slower than projected in April, ADB said in its supplement to the Asian Development Outlook 2019.
S6. Ans.(a)
Sol. Apple has announced the acquisition of chip-maker Intel”s smartphone modem business for $1 billion. This agreement enables to focus on developing technology for the 5G network while retaining critical intellectual property and modem technology. Intel had been working on a chipset for the iPhone maker, with the chip expected to be part of iPhones by 2020.
S7. Ans.(b)
Sol. Securities and Exchange Board of India has approved Singapore Stock Exchange and National Stock Exchange of India Ltd to operate jointly in Gujarat International Finance Tec-City, Gandhinagar. The two entities will create a new platform for trading called NSE International Financial Service Centre (IFSC)-SGX Connect.
S8. Ans.(c)
Sol. The International Monetary Fund has lowered its annual growth forecast for India from 7.3% to 7% in the financial year 2019-20. The IMF’s stance reflects a weaker-than-expected outlook for domestic demand.
S9. Ans.(d)
Sol. India’s forex reserves has reached the highest ever valuation of $430.57 bn. As per the latest RBI data, India’s foreign exchange reserves increased by $1.620 billion in the week to 9 August due to the rise in foreign currency assets. Foreign currency assets expressed in dollar terms include the effect of appreciation/depreciation of non-US units like the euro, pound, and yen held in the reserves. India has large foreign-exchange reserves; holdings of cash, bank deposits, bonds, and other financial assets denominated in currencies other than India’s national currency, the Indian rupee. The reserves are managed by the Reserve Bank of India for the Indian government and the main component is foreign currency assets.
S10. Ans.(e)
Sol. Ratings agency CRISIL has cut its forecast for India’s GDP growth by 20 basis points for FY 2019-20. It has lowered India’s GDP growth to 6.9% from 7.1%. CRISIL is a global analytical company providing ratings, research, and risk and policy advisory services. CRISIL’s majority shareholder is Standard & Poor’s, a division of McGraw Hill Financial and provider of financial market intelligence. The headquarters of CRISIL is in Mumbai. 
S11. Ans.(d)
Sol. Indian Bank has entered into a corporate agency agreement with Cholamandalam MS General Insurance Company Ltd. Under the agreement, Indian Bank will distribute the latter’s insurance products ranging from motor, home, health PA, and travel insurance, and SME and commercial line of business etc. All these products will be distributed through traditional and digital platform to Indian Bank customers.
S12. Ans.(a)
Sol. National Payments Corporation of India (NPCI) and JCB International have launched RuPay JCB Global Cards. RuPay JCB Global Cards can be used at all point of sales terminals which accept RuPay cards and terminals outside India which accept JCB. National Payments Corporation of India (NPCI) is an umbrella organization for all retail payments in India and established in 2008. 
S13. Ans.(e)
Sol. Life Insurance Corporation of India has agreed to offer Rs 1.25 trillion Line of Credit by 2024, to fund highway projects. LIC has offered Rs 25,000 crore in a year and Rs 1.25 trilion in five years. The borrowings will be in the form of bonds to be issued by the National Highways Authority of India.
S14. Ans.(c)
Sol. BSE has inked a pact with Haryana government to encourage and support state’s micro, small and medium enterprises (MSMEs) to raise capital. The Government of Haryana and BSE intend to facilitate SMEs in raising funds through BSE’s dedicated platform for SME’s “BSE SME” where small companies can list and raise productive capital, gain visibility and credibility vis-a-vis large corporates.
S15. Ans.(b)
Sol. Indian Bank is an Indian state-owned financial services company established in 1907 and headquartered in Chennai, India.



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