Important General Awareness Questions about Economy/Banking for SBI PO Mains 2017:
Dear Aspirants, Here we have given the list of important General Awareness Questions about Economy / Banking for the upcoming SBI PO Mains 2017 Examination. Candidates those who are preparing for the examination can use this.
1). The cabinet appointments Committee has approved seven top-level changes in various public sector banks. As for the appointment Sunil Mehta has been appointed as MD & CEO of
Answer: e)
Explanation: The cabinet appointments Committee has approved seven top-level changes in various public sector banks. Usha Ananthasubramanian (MD, and CEO, Punjab National Bank) has been appointed as MD & CEO of ‘Allahabad Bank'. Sunil Mehta, Executive (Director, Corporation Bank) has been appointed as MD & CEO of ‘Punjab National Bank’. R Subramaniakumar (Executive Director, Indian Overseas Bank) has been elevated as MD & CEO of Indian Overseas Bank. Dinabandhu Mohapatra (Executive Director at Canara Bank) as MD and CEO of Bank of India. G Rajkiran Rai (Executive Director at Oriental Bank of Commerce) has been appointed MD & CEO of Union Bank of India, for a period of three years (from 1st July 2017). A Sankara Narayanan (ED, Bank of India) has been appointed MD & CEO of Vijaya Bank (from 1st September) MO Rego (MD & CEO of Bank of India) has been appointed MD & CEO of Syndicate Bank.
Answer: d)
Explanation: The International Monetary Fund in its regional economic outlook has predicted the growth rate of India as 7.2% in the 2017-18 fiscal and 7.7% in 2018-19 fiscal. The report has stated that the disruptions caused by the demonetisation would be offset by a favorable monsoon and continued progress in resolving supply-side bottlenecks. However, it has predicted the investment recovery to remain modest and uneven across sectors. Though weaknesses in bank and corporate balance sheets is likely to affect the near term credit growth, the report cites confidence and policy credibility gains and continued fiscal consolidation and anti-inflationary monetary policy to be the factors that underpin macroeconomic stability.
Answer: c)
Explanation: The Finance Ministry has set up an Investor Facilitation Platform to provide information about stocks of public sector units. The platform will be an interactive forum for all stakeholders, including investors, investment banks, law firms, public sector units and administrative ministries that are involved in stake sales. All users will have to register on the platform, which will then be authorized by Department of Investment and Public Asset Management (DIPAM).
Answer: c)
Explanation: India’s first contactless business credit card has been launched by ICICI bank in association with Jet Airways, India premier international airline,, for Small and Mid-sized Enterprises (SMEs) and their employees. The card has been christened as the ‘Jet Airways ICICI Bank Business Advantage Card’, which helps customers to save on their business expenses. The card is powered by the ‘VISA payWave’ contactless technology that enables the cardholder to make payments by simply tapping the card at contactless enabled terminals in more than 48 countries, including India. The card can also be used by dipping or swiping at non-contactless merchants.
Answer: d)
Explanation: Reliance Jio Infocomm, a subsidiary of Reliance Industries Limited (RIL), has launched “JioMoney Wallet” , a digital wallet service, for Indian consumers. The service will enable customers to make bill payments, mobile recharges and insurance premium payments, as well as do online shopping. It also allows users to send and receive money to and from family and friends. The wallet service, which allows consumers to use barcode scan to pay at physical stores, will also offer deals, coupons and cashback directly to customers on their mobile phone from local merchants. Additionally, the service will enable easy transfer of JioMoney balance into the customer’s bank account.
Answer: c)
Explanation: Reserve Bank of India has put restriction on Kolkata-based PSU UCO Bank’s lending and branch expansion plans as the state-run lender made net losses for the two successive fiscal amid severe stress on asset quality. RBI has initiated 'Prompt Corrective Action' (PCA) framework on UCO bank on account of high bad loans and negative return of assets. UCO has become the second lender to face business restrictions after IDBI Bank.
Answer: d)
Explanation: HDFC Life has entered into a banc assurance tie-up with ‘Catholic Syrian Bank’ to distribute its individual life insurance products to the private lender’s customers. Now, HDFC Life will offer its leading range of individual life insurance, health, and pension products to the Catholic Syrian Bank’s customer over a period of time.
Answer: c)
Explanation: In a survey conducted during March and April 2017, FICCI predicted India’s gross domestic product (GDP) growth will be around 7.4% for fiscal 2017-18, with a minimum and maximum level of 7% and 7.6% respectively. ii. Agricultural sector is estimated to clock 3.5% growth in 2017-18, the pick-up in overall GDP growth will also be supported by an improvement in industry and services sector growth. The industry and services sector are expected to grow by 6.9% and 8.4% respectively in 2017-18.
Answer: e)
Explanation: Brand finance in its 2017 report that lists India’s 100 most valuable brands has named Tata Group as the most valuable brand in India at an estimated brand value of $13.1 billion. Brand Finance is a global brand valuation and strategy consultancy firm. Tata Group has managed to top the list despite its brand value declining 4% from $13.7 billion in 2016. As per the report, the total brand value of India’s top 100 brands have surged 15% in 2017 compared to the global average of 11%. Overall 68 of India’s 100 most valuable brands have registered growth in value this year.
Answer: d)
Explanation: The 52nd Annual Meetings of the African Development bank (AfDB) will be held in Gandhinagar, Gujarat from 22nd to 26th of this month. This is the first time that the Annual Meetings of AfDB are being held in India. These Meetings are the Bank’s largest annual event and serve to raise the profile of the institution on the global stage. In addition to the Annual Meeting of the Board of Governors, these Meetings will bring together about 3000 delegates and participants, and will feature a number of official, knowledge, and side events.
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1). The cabinet appointments Committee has approved seven top-level changes in various public sector banks. As for the appointment Sunil Mehta has been appointed as MD & CEO of
a) Bank of India
b) Syndicate Bank
c) Indian Overseas Bank
d) Union Bank of India
e) Punjab National Bank
Answer: e)
Explanation: The cabinet appointments Committee has approved seven top-level changes in various public sector banks. Usha Ananthasubramanian (MD, and CEO, Punjab National Bank) has been appointed as MD & CEO of ‘Allahabad Bank'. Sunil Mehta, Executive (Director, Corporation Bank) has been appointed as MD & CEO of ‘Punjab National Bank’. R Subramaniakumar (Executive Director, Indian Overseas Bank) has been elevated as MD & CEO of Indian Overseas Bank. Dinabandhu Mohapatra (Executive Director at Canara Bank) as MD and CEO of Bank of India. G Rajkiran Rai (Executive Director at Oriental Bank of Commerce) has been appointed MD & CEO of Union Bank of India, for a period of three years (from 1st July 2017). A Sankara Narayanan (ED, Bank of India) has been appointed MD & CEO of Vijaya Bank (from 1st September) MO Rego (MD & CEO of Bank of India) has been appointed MD & CEO of Syndicate Bank.
2). The International Monetary Fund in its regional economic outlook has predicted the growth rate of India in 2018-19 fiscal will be
a) 7.2%
b) 7.4%
c) 7.6%
d) 7.7%
e) 7.5%
Answer: d)
Explanation: The International Monetary Fund in its regional economic outlook has predicted the growth rate of India as 7.2% in the 2017-18 fiscal and 7.7% in 2018-19 fiscal. The report has stated that the disruptions caused by the demonetisation would be offset by a favorable monsoon and continued progress in resolving supply-side bottlenecks. However, it has predicted the investment recovery to remain modest and uneven across sectors. Though weaknesses in bank and corporate balance sheets is likely to affect the near term credit growth, the report cites confidence and policy credibility gains and continued fiscal consolidation and anti-inflationary monetary policy to be the factors that underpin macroeconomic stability.
3). The Finance Ministry has set up an Investor Facilitation Platform to provide information about stocks of public sector units. The Name of the Platform is
a) FIPM
b) GIRU
c) DIPAM
d) DIPM
e) SIRYM
Answer: c)
Explanation: The Finance Ministry has set up an Investor Facilitation Platform to provide information about stocks of public sector units. The platform will be an interactive forum for all stakeholders, including investors, investment banks, law firms, public sector units and administrative ministries that are involved in stake sales. All users will have to register on the platform, which will then be authorized by Department of Investment and Public Asset Management (DIPAM).
4). India’s first contactless business credit card has been launched by which of the following banks?
a) IDBI
b) IOB
c) ICICI
d) SBI
e) Syndicate
Answer: c)
Explanation: India’s first contactless business credit card has been launched by ICICI bank in association with Jet Airways, India premier international airline,, for Small and Mid-sized Enterprises (SMEs) and their employees. The card has been christened as the ‘Jet Airways ICICI Bank Business Advantage Card’, which helps customers to save on their business expenses. The card is powered by the ‘VISA payWave’ contactless technology that enables the cardholder to make payments by simply tapping the card at contactless enabled terminals in more than 48 countries, including India. The card can also be used by dipping or swiping at non-contactless merchants.
5). RJI, a subsidiary of RIL, has launched “JioMoney Wallet” , a digital wallet service, for Indian consumers. RIL refers to
a) Respectory Indonesian Limited
b) Reinsurance Industries Limited
c) Reliance Innovative Companies Limited
d) Reliance Industries Limited
e) Researchers Industries Limited
Answer: d)
Explanation: Reliance Jio Infocomm, a subsidiary of Reliance Industries Limited (RIL), has launched “JioMoney Wallet” , a digital wallet service, for Indian consumers. The service will enable customers to make bill payments, mobile recharges and insurance premium payments, as well as do online shopping. It also allows users to send and receive money to and from family and friends. The wallet service, which allows consumers to use barcode scan to pay at physical stores, will also offer deals, coupons and cashback directly to customers on their mobile phone from local merchants. Additionally, the service will enable easy transfer of JioMoney balance into the customer’s bank account.
6). RBI has initiated 'Prompt Corrective Action' (PCA) framework on which of the following bank on account of high bad loans and negative return of assets?
a) Indian Bank
b) Bank of Maharashtra
c) UCO bank
d) Indian Overseas Bank
e) Andhra Bank
Answer: c)
Explanation: Reserve Bank of India has put restriction on Kolkata-based PSU UCO Bank’s lending and branch expansion plans as the state-run lender made net losses for the two successive fiscal amid severe stress on asset quality. RBI has initiated 'Prompt Corrective Action' (PCA) framework on UCO bank on account of high bad loans and negative return of assets. UCO has become the second lender to face business restrictions after IDBI Bank.
7). With which of the following banks HDFC Life has entered into a banc assurance tie-up to distribute its individual life insurance products to the private lender’s customers?
a) Indian Bank
b) Indian overseas Bank
c) Canara Bank
d) Catholic Syrian Bank
e) UCO Bank
Answer: d)
Explanation: HDFC Life has entered into a banc assurance tie-up with ‘Catholic Syrian Bank’ to distribute its individual life insurance products to the private lender’s customers. Now, HDFC Life will offer its leading range of individual life insurance, health, and pension products to the Catholic Syrian Bank’s customer over a period of time.
8). For fiscal 2017-18, FICCI predicted India’s gross domestic product (GDP) growth will be around
a) 7.8%
b) 7.5%
c) 7.4%
d) 7.6%
e) 7.2%
Answer: c)
Explanation: In a survey conducted during March and April 2017, FICCI predicted India’s gross domestic product (GDP) growth will be around 7.4% for fiscal 2017-18, with a minimum and maximum level of 7% and 7.6% respectively. ii. Agricultural sector is estimated to clock 3.5% growth in 2017-18, the pick-up in overall GDP growth will also be supported by an improvement in industry and services sector growth. The industry and services sector are expected to grow by 6.9% and 8.4% respectively in 2017-18.
9). Which of the following has named Country’s Most Valuable Brand in Brand Finance List 2017?
a) Microsoft
b) IBM
c) Accenture
d) Honey ware
e) Tata Group
Answer: e)
Explanation: Brand finance in its 2017 report that lists India’s 100 most valuable brands has named Tata Group as the most valuable brand in India at an estimated brand value of $13.1 billion. Brand Finance is a global brand valuation and strategy consultancy firm. Tata Group has managed to top the list despite its brand value declining 4% from $13.7 billion in 2016. As per the report, the total brand value of India’s top 100 brands have surged 15% in 2017 compared to the global average of 11%. Overall 68 of India’s 100 most valuable brands have registered growth in value this year.
10). The 52nd Annual Meetings of the African Development bank (AfDB) was held from 22nd to 26th of May 2017. This meeting was held at which of the following States?
a) Maharashtra
b) Manipur
c) Karnataka
d) Gujarat
e) Uttar Pradesh
Answer: d)
Explanation: The 52nd Annual Meetings of the African Development bank (AfDB) will be held in Gandhinagar, Gujarat from 22nd to 26th of this month. This is the first time that the Annual Meetings of AfDB are being held in India. These Meetings are the Bank’s largest annual event and serve to raise the profile of the institution on the global stage. In addition to the Annual Meeting of the Board of Governors, these Meetings will bring together about 3000 delegates and participants, and will feature a number of official, knowledge, and side events.
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