Banking Quiz for Canara Bank and Syndicate Bank PO Exam (Based on Economic Survey 2017-18)

Dear Aspirants,

Banking Quiz for Canara Bank and Syndicate Bank PO Exam 2018

Banking Awareness for Canara Bank PO

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 based on Economic Survey 2017-18) not only helps you deal with the General Awareness Section of Banking Exams but also, the Personal Interview round of Banking Recruitment.

Q1. Economic Survey sees average crude oil prices rising __________ in FY 2019.
(a) 30%
(b) 24%
(c) 42%
(d) 12%
(e) 54%

S1. Ans.(d)
Sol. The survey said that the oil price is expected to grow by average 12% in the FY19.

Q2. How much GVA growth has been seen in FY18?
(a) 6.9 per cent
(b) 6.7 per cent
(c) 6.5 per cent
(d) 6.3 per cent
(e) 6.1 per cent

S2. Ans.(e)
Sol. The Economic Survey has predicted gross value added for FY18 at 6.1 percent as against 6.6 percent for the previous financial year.

Q3. GST data shows growth of ________ in the number of indirect taxpayers.
(a) 30%
(b) 40%
(c) 50%
(d) 60%
(e) 20%

S3. Ans.(c)
Sol. A preliminary analysis of the Goods and Services Tax (GST) data reveals that there has been a 50% increase in the number of indirect taxpayers, besides a large increase in voluntary registrations, especially by small enterprises that buy from large enterprises and want to avail themselves of Input Tax Credits (ITC).

Q4. Average Financial Year 201-18 CPI inflation seen at-
(a) 3.3 per cent
(b) 3.7 per cent
(c) 3.9 per cent
(d) 3.5 per cent
(e) 3.1 per cent

S4. Ans.(b)
Sol. Average CPI inflation seen at 3.7 per cent in 2017-18.

Q5. Agriculture, industry and services sectors are expected to grow at the rate of __________, ________, and ____________ respectively in 2017-18.
(a) 2.1%, 4.4%, and 8.3% 
(b) 2.1%, 4.4%, and 8.7% 
(c) 2.1%, 4.6%, and 8.3% 
(d) 2.8%, 4.4%, and 8.3% 
(e) 2.2%, 4.5%, and 8.8%

S5. Ans.(a)
Sol. Agriculture, industry and services sectors are expected to grow at the rate of  2.1%, 4.4%, and 8.3% respectively in 2017-18.

Q6. By how much Industries Growth has been seen at (in Economic Survey 2017-18)- 
(a) 4.4 per cent
(b) 4.1 per cent
(c) 4.6 per cent
(d) 4.9 per cent
(e) 4.3 per cent

S6. Ans.(a)
Sol. 2017-18 industry growth seen at 4.4 per cent in Economic Survey 2017-18.

Q7. What is the meaning of GVA?
(a) Gross Van Added
(b) Gross Value Added
(c) General Value Added
(d) Gross Value Agency
(e) Gross Value Adjust

S7. Ans.(b)
Sol. GVA stands for Gross Value Added.

Q8. It was pointed out that the ROSL has increased exports of readymade garments (man-made fibers) by about 16 per cent but not of others. What is the meaning of "L" in ROSL?
(a) Least
(b) Level
(c) Levies
(d) Labour
(e) Lease

S8. Ans.(c)
Sol. It was pointed out that the Rebate of State Levies (ROSL) has increased exports of readymade garments (man-made fibers) by about 16 per cent but not of others.

Q9. According to Economic Survey 2017-18, which states has the greatest number of GST registrants?
(a) Maharashtra, Madhya Pradesh, Tamil Nadu and Gujarat
(b) Telangana, Uttar Pradesh, Tamil Nadu and Gujarat
(c) Maharashtra, Uttar Pradesh, West Bengal and Gujarat
(d) Maharashtra, Uttar Pradesh, Tamil Nadu and Gujarat
(e) Maharashtra, Uttar Pradesh, Tamil Nadu and Haryana

S9. Ans.(d)
Sol. Maharashtra, UP, Tamil Nadu and Gujarat are the states with the greatest number of GST registrants. UP and West Bengal have been large increases in the number of tax registrants compared to the old tax regime, it points out. The findings suggest that the distribution of the GST base among the states is closely linked to the size of their economies, allaying fears of major producing States that the shift to the new system would undermine their tax collections.

Q10.  India‘s internal trade in goods and services (excludes non-GST goods and services) is actually even higher and is about ____________ of GDP.
(a) 20%
(b) 30%
(c) 40%
(d) 50%
(e) 60%

S10. Ans.(e)
Sol. New data on the international exports of states suggests a strong correlation between export performance and states' standard of living. Last year survey had estimated that India's inter-state trade in goods was between 30 and 50 per cent of GDP. But the GST data suggests that India's internal trade in goods and services (excludes non-GST goods and services) is actually even higher and is about 60 per cent of GDP.


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