Important General Awareness Questions about Economy/Banking for BOB/SBI PO Mains 2017 Set-14:
Dear Aspirants, Here we have given the list of important General Awareness Questions about Economy / Banking for the upcoming BOB PO PGDBF/SBI PO Mains 2017 Examination. Candidates those who are preparing for the examination can use this.
1). Which of the following credit card with a built-in fingerprint scanner, allowing its users to make payments by scanning their fingerprint instead of providing a PIN or a signature?
Answer: b)
Explanation: American financial services corporation Mastercard has created a credit card with a built-in fingerprint scanner, allowing its users to make payments by scanning their fingerprint instead of providing a PIN or a signature. The card is no thicker than a normal credit card. It works with all existing chip-and-PIN readers and is currently being trialled in South Africa.
Answer: d)
Explanation: The World Bank has approved $37.5 crore loan for capacity augmentation of National Waterway-1 (NW-1) on the river Ganga under the Jal Marg Vikas Project (JMVP). The project will enable commercial navigation of vessels with a capacity of 1,500-2,000 deadweight tonnes along a 1,390-km stretch. The NW-1 passes through Uttar Pradesh, Bihar, Jharkhand and West Bengal.
Answer: e)
Explanation: Haryana Government has revised the limit of annual income of families living Below Poverty Line (BPL) and those living below Double the Poverty Line (DPL) in both rural and urban areas of the state for various bank-assisted and National Scheduled Caste Finance and Development Corporation (NSFDC)-assisted schemes. Stating this at Chandigarh, Minister of State for Welfare of Scheduled Castes and Backward Classes, Mr Krishan Kumar Bedi said that the limit of annual income of BPL families living in rural has been raised to Rs 49,000 from Rs. 40,500 and Rs 60,000 from Rs. 51,500 for those living in urban areas.
Answer: d)
Explanation: India and Sri Lanka signed an MoU on economic co-operation. The agreement was exchanged in the presence of Prime Minister Narendra Modi and his Sri Lankan counterpart Ranil Wickremesinghe in New Delhi. Earlier, the two leaders held a meeting at Hyderabad House. In a tweet, Prime Minister Modi said, he held comprehensive talks with Prime Minister Wickremesinghe on ways to strengthen India-Sri Lanka ties for the benefit of the citizens.
Answer: d)
Explanation: Haryana Agriculture and Farmers’ Welfare Minister, Om Parkash Dhankar announced that compensation at the rate of 12,000 rupees per acre will be given to the farmers whose wheat crop has been completely burnt due to any reason. Mr Dhankar was interacting with media persons after the meeting of BJP State Executive Committee in Karnal. He urged the farmers not to burn the wheat stubble in the fields and done the sowing of cotton with zero tillage machine.
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.
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.
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1). Which of the following credit card with a built-in fingerprint scanner, allowing its users to make payments by scanning their fingerprint instead of providing a PIN or a signature?
a) Rupay
b) Mastercard
c) Visa
d) Store card
e) Gift card
Answer: b)
Explanation: American financial services corporation Mastercard has created a credit card with a built-in fingerprint scanner, allowing its users to make payments by scanning their fingerprint instead of providing a PIN or a signature. The card is no thicker than a normal credit card. It works with all existing chip-and-PIN readers and is currently being trialled in South Africa.
2). How much Amount was approved as a loan by the World Bank for capacity augmentation of National Waterway-1 (NW-1) on the river Ganga under the Jal Marg Vikas Project (JMVP)?
a) $7.5 crore
b) $7.5 crore
c) $39.5 crore
d) $37.5 crore
e) $35 crore
Answer: d)
Explanation: The World Bank has approved $37.5 crore loan for capacity augmentation of National Waterway-1 (NW-1) on the river Ganga under the Jal Marg Vikas Project (JMVP). The project will enable commercial navigation of vessels with a capacity of 1,500-2,000 deadweight tonnes along a 1,390-km stretch. The NW-1 passes through Uttar Pradesh, Bihar, Jharkhand and West Bengal.
3). Which State Government has revised the limit of annual income of families living Below Poverty Line (BPL) and those living below Double the Poverty Line (DPL) in both rural and urban areas in the state?
a) Arunachal Pradesh
b) karnataka
c) Odissa
d) Punjab
e) Haryana
Answer: e)
Explanation: Haryana Government has revised the limit of annual income of families living Below Poverty Line (BPL) and those living below Double the Poverty Line (DPL) in both rural and urban areas of the state for various bank-assisted and National Scheduled Caste Finance and Development Corporation (NSFDC)-assisted schemes. Stating this at Chandigarh, Minister of State for Welfare of Scheduled Castes and Backward Classes, Mr Krishan Kumar Bedi said that the limit of annual income of BPL families living in rural has been raised to Rs 49,000 from Rs. 40,500 and Rs 60,000 from Rs. 51,500 for those living in urban areas.
4). India sign MoU with which of the following countries on economic co-operation?
a) Australia
b) Singapore
c) Malaysia
d) Sri Lanka
e) Russia
Answer: d)
Explanation: India and Sri Lanka signed an MoU on economic co-operation. The agreement was exchanged in the presence of Prime Minister Narendra Modi and his Sri Lankan counterpart Ranil Wickremesinghe in New Delhi. Earlier, the two leaders held a meeting at Hyderabad House. In a tweet, Prime Minister Modi said, he held comprehensive talks with Prime Minister Wickremesinghe on ways to strengthen India-Sri Lanka ties for the benefit of the citizens.
5). Which Government has announced that compensation at the rate of 12,000 rupees per acre will be given to the farmers whose wheat crop has been completely burnt due to any reason?
a) Assam
b) Manipur
c) Delhi
d) Haryana
e) Kerala
Answer: d)
Explanation: Haryana Agriculture and Farmers’ Welfare Minister, Om Parkash Dhankar announced that compensation at the rate of 12,000 rupees per acre will be given to the farmers whose wheat crop has been completely burnt due to any reason. Mr Dhankar was interacting with media persons after the meeting of BJP State Executive Committee in Karnal. He urged the farmers not to burn the wheat stubble in the fields and done the sowing of cotton with zero tillage machine.
6). 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.
7). 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.
8). 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.
9). 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.
10). 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.
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