Banking Awareness Quiz With Explanation: Part 4

(1). India is not a member of which of the following International Financial Organisations?
(a) International Bank for Reconstruction and Development (IBRD)
(b) International Finance Corporation (IFC)
(c) International Development Association (IDA)
(d) International Centre for Settlement of Investment Disputes (ICSID)

(6). Where is the headquarter of Asian Development Bank(ADB) which was established in 1966?
(a) Dhaka, Bangladesh
(b) Beijing, China
(c) Mandaluyong, Philippines
(d) Bangkok, Thailand

EXPLANATIONS

(1). Answer Key: (d)
ICSID is an investment dispute settlement body whose decisions are binding on the parties. India is not a member of ICSID. But we have an Indian version of ICSID which is known as Bilateral Investment Promotion and Protection Agreement(BIPA).

(2). Answer Key: (a)
SDR is a form of international money, created by the International Monetary Fund, and defined as a weighted average of various convertible currencies.

(3). Answer Key: (a)
Jim Yong Kim also known as Kim Yong, is a South Korean-American physician and anthropologist who has served as the 12th President of the World Bank since July 1, 2012.

(4). Answer Key: (d)
The Management of the IMF is carried out by Managing Director who is chairman of the Board of Executive Directors(24 in number).

(5). Answer Key: (b)
Sir Suma Chakrabarti KCB was elected as the President of the European Bank for Reconstruction and Development on 18 May 2012 for a period of four years starting from 3 July 2012. He was elected for a second four year term on 11 May 2016.

(6). Answer Key: (c)
The headquarters of the bank is at 6 ADB Avenue, Mandaluyong, Metro Manila, Philippines, and it has 25 field offices in Asia and the Pacific and representative offices in Washington, Frankfurt, Tokyo and Sydney.

(7). Answer Key: (b)
The Uruguay Round was the 8th round of multilateral trade negotiations (MTN) conducted within the framework of the General Agreement on Tariffs and Trade (GATT), spanning from 1986 to 1994 and embracing 123 countries as "contracting parties". The Round led to the creation of the World Trade Organization.

(8). Answer Key: (d)
The sixth summit of the BRICS countries met in Fortaleza, Brazil, on July 15, 2014. The theme of discussions was "Inclusive Growth: Sustainable Solutions" and the declaration detailed progress in establishing the BRICS's New Development Bank(NDB).

(9). Answer Key: (a)
The initial subscribed capital of the BRICS Bank is $50 bln divided into paid-in shares ($10 bln) and callable shares ($40 bln). The initial subscribed capital of the bank was equally distributed among the founding members.

(10). Answer Key: (d)
India, China, Brazil are not members of OECD but have close relations with it.