Important General Awareness Questions about Economy/Banking for BOB/SBI PO 2017 Set-11:
Dear Aspirants, Here we have given the list of important General Awareness Questions about Economy / Banking for the upcoming BOB PO PGDBF/SBI PO 2017 Examination. Candidates those who are preparing for the examination can use this.
Answer: b)
Explanation: Odisha has became the first state in the country to carry financial inclusion and extend banking services to unbanked areas through Self Help Groups. The state government has signed an agreement with State Bank of India to provide banking facilities to people in unbanked areas. In the first phase SHGs would be engaged as Banking Correspondents in around 1,000 remote Gram Panchayats having no banking facilities.
2). Name the bank which has signed MoU with Piaggio Vehicles for providing financial support for the purchase of vehicles under Small Road Transport Operators (SRTO) scheme
Answer: e)
Explanation: Vijaya Bank entered into an MoU with Piaggio Vehicles for providing financial support for the purchase of vehicles under Small Road Transport Operators (SRTO) scheme in Bengaluru. Vijaya Bank Managing Director and Chief Executive Officer Dr Kishore Sansi flagged off the first batch of vehicles under the MoU in the presence of Executive Directors B S Rama Rao, Y Nageswara Rao, and Piaggio Vehicles Vice-President Praveen Nagpal and others.
Answer: d)
Explanation: ICICI Bank has partnered with Truecaller to launch a UPI-based mobile payment service called ‘Truecaller Pay’. It will allow users of the Truecaller app to instantly create a UPI id, send money to any UPI id or a mobile number registered with the BHIM app. It will also enable users to recharge their mobile number from within the app itself. Any user of Truecaller app, including non-ICICI Bank customers can link their bank account of any bank (participating in UPI) to create a UPI id and instantly make payments.
Answer: a)
Explanation: The Pune Metropolitan Region Development Authority approved a budget of nearly Rs. 800 crore for its various projects. The decision was taken during a meeting chaired by Maharashtra Chief Minister Devendra Fadnavis. A statement said that the allocation will benefit the Shivajinagar-Hinjawadi metro and Pune-Daund suburban railway projects, among others.
Answer: c)
Explanation: State-run Indian Oil Corporation (IOC) signed an agreement to supply over 10 lakh tonnes of petroleum products annually to Nepal for the next five years, Chairman B Ashok said. "The supply agreement... will meet the full requirements, demand and quantities of all the major oil products, including petrol, diesel, kerosene, aviation turbine fuel and LPG," he added.
Answer: b)
Explanation: SBI Card on 28 March 2017 launched the Unnati Credit Card to spread credit inclusion among masses. The card was launched by the Union Minister of State (Independent Charge) for Power, Coal, New and Renewable Energy and Mines Piyush Goyal at a programe in New Delhi. The card was launched in the presence of SBI Chairman Arundhati Bhattacharya and SBI Card CEO Vijay Jasuja.
Answer: e)
Explanation: The government will borrow from markets about 3(point)72 lakh crore rupees in the first half of next fiscal beginning April which is 64% of the borrowing target for full financial year. The borrowing in the April-September period will be a little higher compared to other years as the finance ministry and the RBI foresee other ministries to start spending from the beginning of the fiscal as well as redemption pressure. Speaking to reporters in New Delhi, Economic Affairs Secretary Shaktikanta Das said, normally every year Government borrows 60-62 per cent in the first half of the year, this year it is marginally higher 64 per cent.
Answer: c)
Explanation: Private sector lender Kotak Mahindra Bank announced a strategy to double its existing customer base to 16 million in the next 18 months. A key component of this strategy would be a purely digitally-enabled savings account feature, which the bank calls ‘811’ in a nod to the government’s November 8 decision to demonetise high-value currency notes and push for a less-cash economy.
Answer: b)
Explanation: Axis Bank has tied up with Wells Fargo, the third largest American bank by assets, to offer real time remittances from the Indian diaspora to their relatives back home. Under the arrangement between the two banks, any member of the Indian diaspora with an account with the Wells Fargo will be able to transfer money to their relatives back home and there will be no transaction fee applicable to the money transfers from USA. But the relative or the beneficiary in India will need to have an account with Axis Bank.
Answer: e)
Explanation: The government lowered the interest rates on small savings deposits, including PPF, by 0.1% effective April 1. This brings the interest rate on PPF down to 7.9%. The interest rates cut also affects savings in government schemes namely National Savings Certificate, Sukanya Samriddhi Account Scheme and Kisan Vikas Patra among others.
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1). Which state be the first in India to carry financial inclusion and extend banking services to unbanked areas through Self Help Groups ?
a) Assam
b) Odisha
c) Rajasthan
d) Andhra Pradesh
e) Nagaland
Answer: b)
Explanation: Odisha has became the first state in the country to carry financial inclusion and extend banking services to unbanked areas through Self Help Groups. The state government has signed an agreement with State Bank of India to provide banking facilities to people in unbanked areas. In the first phase SHGs would be engaged as Banking Correspondents in around 1,000 remote Gram Panchayats having no banking facilities.
2). Name the bank which has signed MoU with Piaggio Vehicles for providing financial support for the purchase of vehicles under Small Road Transport Operators (SRTO) scheme
a) Canara Bank
b) Bank Of Baroda
c) Yes Bank
d) Bank of Maharashtra
e) Vijaya Bank
Answer: e)
Explanation: Vijaya Bank entered into an MoU with Piaggio Vehicles for providing financial support for the purchase of vehicles under Small Road Transport Operators (SRTO) scheme in Bengaluru. Vijaya Bank Managing Director and Chief Executive Officer Dr Kishore Sansi flagged off the first batch of vehicles under the MoU in the presence of Executive Directors B S Rama Rao, Y Nageswara Rao, and Piaggio Vehicles Vice-President Praveen Nagpal and others.
3). Which bank has recently partnered with Truecaller to launch a UPI-based mobile payment service called ‘Truecaller Pay’
a) HDFC Bank
b) Axis Bank
c) South Indian Bank
d) ICICI Bank
e) Yes Bank
Answer: d)
Explanation: ICICI Bank has partnered with Truecaller to launch a UPI-based mobile payment service called ‘Truecaller Pay’. It will allow users of the Truecaller app to instantly create a UPI id, send money to any UPI id or a mobile number registered with the BHIM app. It will also enable users to recharge their mobile number from within the app itself. Any user of Truecaller app, including non-ICICI Bank customers can link their bank account of any bank (participating in UPI) to create a UPI id and instantly make payments.
4). How much budget amount got approval by Pune Metropolitan Region Development Authority for its various projects ?
a) Rs. 800 crore
b) Rs. 945 crore
c) Rs. 900 crore
d) Rs. 880 crore
e) Rs. 835 crore
Answer: a)
Explanation: The Pune Metropolitan Region Development Authority approved a budget of nearly Rs. 800 crore for its various projects. The decision was taken during a meeting chaired by Maharashtra Chief Minister Devendra Fadnavis. A statement said that the allocation will benefit the Shivajinagar-Hinjawadi metro and Pune-Daund suburban railway projects, among others.
5). Which Indian oil company has signed agreement to supply over 10 lakh tonnes of petroleum products annually to Nepal for the next five years ?
a) Hindustan Petroleum Corporation Limited
b) Reliance Industries Limited
c) Indian Oil Corporation Limited
d) Bharat Petroleum Corporation Limited
e) Essar Oil Limited
Answer: c)
Explanation: State-run Indian Oil Corporation (IOC) signed an agreement to supply over 10 lakh tonnes of petroleum products annually to Nepal for the next five years, Chairman B Ashok said. "The supply agreement... will meet the full requirements, demand and quantities of all the major oil products, including petrol, diesel, kerosene, aviation turbine fuel and LPG," he added.
6). What is the name of the Zero-Fee Credit Card launched by SBI ?
a) Pojiya Credit Card
b) Unnati Credit Card
c) Indi Credit Card
d) Nil Balance Credit Card
e) Jana Credit Card
Answer: b)
Explanation: SBI Card on 28 March 2017 launched the Unnati Credit Card to spread credit inclusion among masses. The card was launched by the Union Minister of State (Independent Charge) for Power, Coal, New and Renewable Energy and Mines Piyush Goyal at a programe in New Delhi. The card was launched in the presence of SBI Chairman Arundhati Bhattacharya and SBI Card CEO Vijay Jasuja.
7). How much amount does the government will borrow from markets in the first half of next fiscal beginning April ?
a) Rs. 3.55 lakh crore
b) Rs. 3.95 lakh crore
c) Rs. 2.48 lakh crore
d) Rs. 2.81 lakh crore
e) Rs. 3.72 lakh crore
Answer: e)
Explanation: The government will borrow from markets about 3(point)72 lakh crore rupees in the first half of next fiscal beginning April which is 64% of the borrowing target for full financial year. The borrowing in the April-September period will be a little higher compared to other years as the finance ministry and the RBI foresee other ministries to start spending from the beginning of the fiscal as well as redemption pressure. Speaking to reporters in New Delhi, Economic Affairs Secretary Shaktikanta Das said, normally every year Government borrows 60-62 per cent in the first half of the year, this year it is marginally higher 64 per cent.
8). Which bank has recently announced digitally-enabled savings account feature called ‘811’ ?
a) South Indian Bank
b) Catholic Syrian Bank
c) Kotak Mahindra Bank
d) Punjab National Bank
e) ICICI Bank
Answer: c)
Explanation: Private sector lender Kotak Mahindra Bank announced a strategy to double its existing customer base to 16 million in the next 18 months. A key component of this strategy would be a purely digitally-enabled savings account feature, which the bank calls ‘811’ in a nod to the government’s November 8 decision to demonetise high-value currency notes and push for a less-cash economy.
9). Which bank has made a tie up with Wells Fargo to offer real time remittances from the Indian diaspora to their relatives back home ?
a) Canara Bank
b) Axis Bank
c) Yes Bank
d) Dhanlaxmi Bank
e) Lakshmi Vilas Bank
Answer: b)
Explanation: Axis Bank has tied up with Wells Fargo, the third largest American bank by assets, to offer real time remittances from the Indian diaspora to their relatives back home. Under the arrangement between the two banks, any member of the Indian diaspora with an account with the Wells Fargo will be able to transfer money to their relatives back home and there will be no transaction fee applicable to the money transfers from USA. But the relative or the beneficiary in India will need to have an account with Axis Bank.
10). How much Percent does the interest rates on small savings deposits has been reduced by Government from April 1 2017 ?
a) 0.5%
b) 1.5%
c) 0.3%
d) 2.0%
e) 0.1%
Answer: e)
Explanation: The government lowered the interest rates on small savings deposits, including PPF, by 0.1% effective April 1. This brings the interest rate on PPF down to 7.9%. The interest rates cut also affects savings in government schemes namely National Savings Certificate, Sukanya Samriddhi Account Scheme and Kisan Vikas Patra among others.
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