Banking Awareness Questions for IBPS Clerk Mains 2017

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Banking Awareness Questions for IBPS Clerk Mains 2017
Banking Awareness for IBPS Exam 2017

Just a few days are left for IBPS Clerk Mains. It is time to pace up your preparation of Banking Awareness for IBPS SO and Clerk Mains. These questions related to Banking Awareness will also help you in preparing for other upcoming banking recruitment examination.

Q1. Which country has become the first country to roll out its own digital cash recently?
(a) Peru
(b) Estonia
(c) Japan
(d) Eduador
(e) Kenya

S1. Ans.(d)
Sol. Ecuador becomes the first country to roll out its own digital cash.

Q2. The International Monetary Fund has approved a new USD 88 billion credit line for __________ replacing the existing line.
(a) Mexico
(b) Japan
(c) Russia
(d) France
(e) Ireland

S2. Ans.(a)
Sol. The International Monetary Fund has approved a new USD 88 billion credit line for Mexico, replacing the existing line. The two-year flexible credit line boosts Mexico’s ability to immediately deal with a potential need for liquidity, without having to request an IMF loan.

Q3. The government has fixed 2,952 rupees per gram as price of new series of SGBs recently. SGBs stands for-
(a) Services Gold Bonds
(b) Sovereign Green Bonds
(c) Sovereign Gold Bonds
(d) Sovereign Gold Banks
(e) Systematic Gold Bonds

S3. Ans.(c)
Sol. The government has fixed 2,952 rupees per gram as price of new series of sovereign gold bonds (SGBs). The government, in consultation with the Reserve Bank, has decided to offer a discount of Rs 50 per gram to investors applying online and making payments digitally.

Q4. The government of India has increased the budget of Agricultural Education by __________ this year as compared to the financial year 2013-14.
(a) 71.3% 
(b) 83.7% 
(c) 53.6% 
(d) 36.2% 
(e) 47.4%

S4. Ans.(e)
Sol. The government of India has increased the budget of Agricultural Education by 47.4% this year as compared to the financial year 2013-14. According to the Agriculture Minister Radha Mohan Singh, in order to adopt quality and holistic approach to higher agricultural education, the Fifth Dean Committee Report has been implemented in all the Agricultural Universities.

Q5. Which Bank has launched its RuPay Select and RuPay Platinum credit cards recently?
(a) Dena Bank
(b) Corporation Bank
(c) Bank of Baroda
(d) State Bank of India
(e) Punjab National Bank

S5. Ans.(b)
Sol. Corporation Bank has launched its RuPay Select and RuPay Platinum credit cards. Corporation Bank’s RuPay credit cards are accepted at all RuPay-enabled 1.5 million plus PoS terminals and 80,000 plus e-commerce merchants in India and all ICS Partner acceptance points (POS, e-commerce merchants) globally.

Q6. The first one rupee note was printed in India on _______________ with the photo of King George V.
(a) 30th November 1915
(b) 30th November 1917
(c) 30th November 1923
(d) 30th November 1921
(e) 30th November 1919

S6. Ans.(b)
Sol. This smallest paper denomination note from India has traveled through a glorious historical journey all over the world since it was issued for the public. As the argument over the government's decision to scrap high-value currency notes is still raging, our one rupee note has completed a century! The first one rupee note was printed in India on November 30, 1917, with the photo of King George V. This was the time when India was under the British rule.

Q7. A new Payments Bank 'Paytm Payments Bank' was formally launched at the hands of the Union Finance Minister Arun Jaitley. Who is the Chairman of Paytm Payments Bank?
(a) RS Sodhi
(b) Suresh Sethi
(c) AP Singh 
(d) Shashi Arora
(e) Vijay Shekhar Sharma

S7. Ans.(e)
Sol. A new Payments Bank 'Paytm Payments Bank' was formally launched at the hands of the Union Finance Minister Arun Jaitley. Currently, India has four Payments Bank including Paytm Payments Bank. The other three operational ones are Airtel Payments Bank, India Post Payments Bank and Fino Payments Bank. Vijay Shekhar Sharma is the Chairman in the Paytm Payments Bank.

Q8. The government launched the ‘Bharat 22’ ETF managed by ICICI Prudential Mutual Fund, targeting an initial amount of about Rs8,000 crore. What is the meaning of "T" in ETF?
(a) Timing
(b) Transaction
(c) Traded
(d) Treaty
(e) Trended

S8. Ans.(c)
Sol. The government launched the ‘Bharat 22’ exchange traded fund (ETF) managed by ICICI Prudential Mutual Fund, targeting an initial amount of about Rs8,000 crore.

Q9. Name the Bank, which has launched digital Supply Chain Finance solution which aims to accelerate working capital loan opportunities for the small and medium enterprises and large corporate clients?
(a) Bank of Baroda
(b) Corporation Bank
(c) Dena Bank
(d) State Bank of India
(e) Punjab National Bank

S9. Ans.(a)
Sol. State-run lender Bank of Baroda launched digital Supply Chain Finance solution which aims to accelerate working capital loan opportunities for the small and medium enterprises and large corporate clients.

Q10. Indian online payments firm BillDesk-owned Hatio Innovations has launched cryptocurrency exchange ‘Coinome’ in India offering trading of Bitcoin and Bitcoin Cash. BillDesk based in- 
(a) Hyderabad
(b) Chennai
(c) Kolkata
(d) Mumbai
(e) New Delhi

S10. Ans.(d)
Sol. Indian online payments firm BillDesk-owned Hatio Innovations has launched cryptocurrency exchange ‘Coinome’ in India offering trading of Bitcoin and Bitcoin Cash. Headquarters of Billdesk is located in Mumbai.

Q11. A report by Bank of America-Merrill Lynch has stated that in the next decade, which country will overtake Japan to become the third-largest economy?
(a) India
(b) China
(c) Russia
(d) Germany
(e) France

S11. Ans.(a)
Sol. A report by Bank of America-Merrill Lynch has stated that in the next decade, India will overtake Japan to become the third-largest economy. The factors that will enable this are reduced dependency on other nations, financial maturity, and higher income and affordability.

Q12. The Income Tax Department has clarified that the cash sales of agricultural produce by a cultivator to a trader for less than ______________ will not attract tax under the Income Tax Act.
(a) 5 lakh rupees
(b) 2 lakh rupees
(c) 4 lakh rupees
(d) 3 lakh rupees
(e) 1 lakh rupees

S12. Ans.(b)
Sol. The Income Tax Department has clarified that the cash sales of agricultural produce by a cultivator to a trader for less than 2 lakh rupees will not attract tax under the Income Tax Act. A circular issued by the Department stated the cultivator and the trader will also not have to provide their Permanent Account Number.

Q13. The Union government has unveiled an ambitious plan to infuse Rs 2.11 lakh crore capital over the next two years into public sector banks (PSBs) that are saddled with high. This recapitalisation bonds worth Rs ________ crore.
(a) Rs1.75 lakh crore
(b) Rs1.55 lakh crore
(c) Rs1.35 lakh crore
(d) Rs1.15 lakh crore
(e) Rs1.25 lakh crore

S13. Ans.(c)
Sol. The Union government has unveiled an ambitious plan to infuse Rs2.11 lakh crore capital over the next two years into public sector banks (PSBs) that are saddled with high, non-performing assets (NPAs) and facing the prospect of having to take haircuts on loans stuck in insolvency proceedings. This would be funded through budgetary provisions of Rs18,139 crore and the sale of recapitalisation bonds worth Rs1.35 lakh crore. The balance would be raised by the banks themselves by diluting the government’s equity share.

Q14. Who is the present President of World Bank?
(a) Ban Ki-moon
(b) Antonio Guterres
(c) Christine Lagarde
(d) Jim Yong Kim
(e) Takehiko Nakao

S14. Ans.(d)
Sol. Jim Yong Kim is the present President of World Bank.

Q15. Who has been appointed as 15th Finance Commission Chairman?
(a) Shaktikanta Das
(b) Anoop Singh
(c) Ramesh Chand
(d) Ashok Lahiri
(e) NK Singh

S15. Ans.(e)
Sol. The government has announced that former revenue secretary NK Singh will be the chairman of the 15th Finance Commission (FC) that will recommend distribution of taxes between the Centre and the states.


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