Important General Awareness Questions about Economy/Banking for BOB/SBI PO 2017 Set-12:
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: a)
Explanation: India on 30 March 2017 signed loan agreement with the New Development Bank (NDB) of USD 350 million for development and upgradation of major district roads project in Madhya Pradesh. The loan agreement was signed by Raj Kumar, Joint Secretary in the Department of Economic Affairs (DEA) and Xian Zhu, Vice President & Chief Operating Officer of the New Development Bank. While, the project agreement was signed by Pramod Agrawal, Principal Secretary of Public Works Department and Manish Rastogi, Managing Director of Madhya Pradesh Road Development Corporation (MPRDC). This is the first loan agreement for NDB assisted project in India.
Answer: d)
Explanation: In one of the biggest Unified Payments Interface (UPI) frauds till date, state-run Bank of Maharashtra lost Rs.25 crore after a few people moved money illegally exploiting a bug in government's UPI app. The bug allowed people to send money without having the necessary funds in their accounts. As many as 44 banks are registered on UPI's platform.
Answer: b)
Explanation: Japan has committed an "official development assistance" (ODA) of 371(point)345 billion yen (about Rs 21,590 crore) under 2016-2017 for various infrastructure projects, including the dedicated freight corridor, in India. The notes in this regard were exchanged in New Delhi between S Selvakumar, Joint Secretary, Department of Economic Affairs; and Kenji Hiramatsu, Ambassador of Japan to India.
Answer: d)
Explanation: The Centre has sanctioned 98 crore rupees for the development of the tourism sector in Assam. Participating in the Namami Brahmaputra festival in Guwahati this evening, Tourism minister Mahesh Sarma said that Chief Minister Sarbanand Sonowal did excellent work by organizing the event. The minister has announced another two crore rupees from the Centre for the festival. He said that rivers are the resources of the economic progress. He said that Guwahati is the gateway of the North East. The minister also announced to take step for the development of 12 religious places of Assam including the Kamakhya.
Answer: e)
Explanation: A new Japanese law that defines cryptocurrency, including Bitcoin, Ripple, Litecoin and others, as a legal payment method has come into force in Japan. According to the new law, all virtual currency exchanges are to be regulated by the Japanese Financial Services Agency. They must also be registered with the financial watchdog and must verify identities of customers opening accounts.
Answer: b)
Explanation: Indian and Malaysian firms have signed 31 pacts expecting investments of about $36 billion (around Rs.2.3 lakh crore) in several sectors including construction, pharma, and education. The MoUs were exchanged in the presence of Commerce and Industry Minister Nirmala Sitharaman and Malaysian Prime Minister Najib Razak. The Malaysian PM is currently on a six-day tour to India.
Answer: b)
Explanation: IDBI bank has appointed Mahesh Kumar Jain as the Managing Director & CEO with immediate effect. Before his role in IDBI, Jain was the Managing Director & Chief Executive Officer of Indian Bank. Jain joined Indian Bank as an executive director in September 2013 where he handled several key portfolios. Prior to joining Indian Bank, Jain served as general manager with Syndicate Bank. He began his banking career with Punjab National Bank.
Answer: c)
Explanation: BP Kanungo took over as the Deputy Governor of the Reserve Bank of India (RBI) in Mumbai. The government on March 11 appointed Kanungo, who was holding the position of Executive Director of RBI, as Deputy Governor for a period of three years. He has worked in several functional areas of the banks such as foreign exchange management, banking and non-banking supervision, currency management, government and bank accounts and public debt.
Answer: b)
Explanation: Union Road Minister Nitin Gadkari said the first express highway project in India's Northeast region will be developed along the Brahmaputra river in Assam at an estimated cost of Rs.40,000 crore. Making the announcement at the closing ceremony of 'Namami Brahmaputra' festival in Guwahati, Gadkari requested Assam CM Sarbananda Sonowal to undertake land acquisition work for the road.
Answer: a)
Explanation: The RBI kept the repo rate unchanged at 6.25% in its first bi-monthly monetary policy of this fiscal. This is the third time in a row that the repo rate has been kept unchanged. The reverse repo rate however, has been raised from 5.75% to 6.0%. Further, RBI said GVA growth is projected to be 7.4% in 2017-18.
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1). What is the cost worth of loan agreement signed by India with the New Development Bank (NDB) for development and upgradation of major district roads project in Madhya Pradesh ?
a) USD 350 million
b) USD 220 million
c) USD 150 million
d) USD 460 million
e) USD 245 million
Answer: a)
Explanation: India on 30 March 2017 signed loan agreement with the New Development Bank (NDB) of USD 350 million for development and upgradation of major district roads project in Madhya Pradesh. The loan agreement was signed by Raj Kumar, Joint Secretary in the Department of Economic Affairs (DEA) and Xian Zhu, Vice President & Chief Operating Officer of the New Development Bank. While, the project agreement was signed by Pramod Agrawal, Principal Secretary of Public Works Department and Manish Rastogi, Managing Director of Madhya Pradesh Road Development Corporation (MPRDC). This is the first loan agreement for NDB assisted project in India.
2). Which bank has recently faced the biggest Unified Payments Interface (UPI) frauds cost of Rs. 25 crore by a bug in government's UPI app ?
a) Bank of Baroda
b) ICICI Bank
c) Canara Bank
d) Bank of Maharashtra
e) Vijaya Bank
Answer: d)
Explanation: In one of the biggest Unified Payments Interface (UPI) frauds till date, state-run Bank of Maharashtra lost Rs.25 crore after a few people moved money illegally exploiting a bug in government's UPI app. The bug allowed people to send money without having the necessary funds in their accounts. As many as 44 banks are registered on UPI's platform.
3). What is the cost worth of Official Development Assistance (ODA) committed by Japan for various infrastructure projects in India?
a) 285.393 billion yen
b) 371.345 billion yen
c) 390.340 billion yen
d) 323.360 billion yen
e) 354.276 billion yen
Answer: b)
Explanation: Japan has committed an "official development assistance" (ODA) of 371(point)345 billion yen (about Rs 21,590 crore) under 2016-2017 for various infrastructure projects, including the dedicated freight corridor, in India. The notes in this regard were exchanged in New Delhi between S Selvakumar, Joint Secretary, Department of Economic Affairs; and Kenji Hiramatsu, Ambassador of Japan to India.
4). How much fund has been sanctioned by central government for the development of the tourism sector in Assam ?
a) Rs.88 crore
b) Rs.85 crore
c) Rs.76 crore
d) Rs.98 crore
e) Rs.110 crore
Answer: d)
Explanation: The Centre has sanctioned 98 crore rupees for the development of the tourism sector in Assam. Participating in the Namami Brahmaputra festival in Guwahati this evening, Tourism minister Mahesh Sarma said that Chief Minister Sarbanand Sonowal did excellent work by organizing the event. The minister has announced another two crore rupees from the Centre for the festival. He said that rivers are the resources of the economic progress. He said that Guwahati is the gateway of the North East. The minister also announced to take step for the development of 12 religious places of Assam including the Kamakhya.
5). Which country has recently approved Bitcoin as currency ?
a) Brazil
b) Thailand
c) Canada
d) Italy
e) Japan
Answer: e)
Explanation: A new Japanese law that defines cryptocurrency, including Bitcoin, Ripple, Litecoin and others, as a legal payment method has come into force in Japan. According to the new law, all virtual currency exchanges are to be regulated by the Japanese Financial Services Agency. They must also be registered with the financial watchdog and must verify identities of customers opening accounts.
6). What is the cost worth 31 pacts signed between Indian and Malaysian firms in several sectors ?
a) Rs. 2.1 lakh crore
b) Rs.2.3 lakh crore
c) Rs. 1.7 lakh crore
d) Rs. 2.5 lakh crore
e) Rs. 1.5 lakh crore
Answer: b)
Explanation: Indian and Malaysian firms have signed 31 pacts expecting investments of about $36 billion (around Rs.2.3 lakh crore) in several sectors including construction, pharma, and education. The MoUs were exchanged in the presence of Commerce and Industry Minister Nirmala Sitharaman and Malaysian Prime Minister Najib Razak. The Malaysian PM is currently on a six-day tour to India.
7). Who has been appointed as the as the Managing Director & CEO of IDBI bank?
a) Kishor Kharat
b) Mahesh Kumar Jain
c) Shyam Srinivasan
d) Rakesh Sethi
e) P. S. Jayakumar
Answer: b)
Explanation: IDBI bank has appointed Mahesh Kumar Jain as the Managing Director & CEO with immediate effect. Before his role in IDBI, Jain was the Managing Director & Chief Executive Officer of Indian Bank. Jain joined Indian Bank as an executive director in September 2013 where he handled several key portfolios. Prior to joining Indian Bank, Jain served as general manager with Syndicate Bank. He began his banking career with Punjab National Bank.
8). Who has been recently appointed as the Deputy Governor of the Reserve Bank of India (RBI)
a) S S Mundra
b) N S Vishwanathan
c) BP Kanungo
d) M Rajeshwar Rao
e) G Mahalingam
Answer: c)
Explanation: BP Kanungo took over as the Deputy Governor of the Reserve Bank of India (RBI) in Mumbai. The government on March 11 appointed Kanungo, who was holding the position of Executive Director of RBI, as Deputy Governor for a period of three years. He has worked in several functional areas of the banks such as foreign exchange management, banking and non-banking supervision, currency management, government and bank accounts and public debt.
9). What is the estimated cost worth of first express highway project in India's Northeast region ?
a) Rs.36,000 crore
b) Rs.40,000 crore
c) Rs.43,000 crore
d) Rs.49,000 crore
e) Rs.28,000 crore
Answer: b)
Explanation: Union Road Minister Nitin Gadkari said the first express highway project in India's Northeast region will be developed along the Brahmaputra river in Assam at an estimated cost of Rs.40,000 crore. Making the announcement at the closing ceremony of 'Namami Brahmaputra' festival in Guwahati, Gadkari requested Assam CM Sarbananda Sonowal to undertake land acquisition work for the road.
10). What is the present reverse repo rate based on first bi-monthly monetary policy of 2017-18 released by RBI ?
a) 6.0%
b) 6.25%
c) 5.5%
d) 5.9%
e) 6.3%
Answer: a)
Explanation: The RBI kept the repo rate unchanged at 6.25% in its first bi-monthly monetary policy of this fiscal. This is the third time in a row that the repo rate has been kept unchanged. The reverse repo rate however, has been raised from 5.75% to 6.0%. Further, RBI said GVA growth is projected to be 7.4% in 2017-18.
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