Banking Awareness Questions for IBPS RRB PO and Clerk | 8th August 2018

Dear Aspirants,

Banking Awareness for IBPS RRB PO and Clerk Exam 2018

With the increased competition in the field of banking examinations, it has now become very important to cover up all the sections efficiently. One subject that can help you bagging graceful marks in the minimum time in these examinations is Banking Awareness. Banking Awareness Quiz not only helps you deal with the General Awareness Section of Banking Exams but also, the Personal Interview round of Banking Recruitment.

Q1. Taking forward the National IPR Policy 2016, a ‘Scheme for IPR Awareness – Creative India; Innovative India’ has been launched by Cell for IPR Promotion and Management (CIPAM) under the aegis of the-

Department of Commerce - Export Products (Agriculture)

Department of Industrial Policy and Promotion

Department of Economic Affairs

Department of Revenue

None of the given options is true

Solution:

Taking forward the National Intellectual Property Rights (IPR) Policy 2016, a ‘Scheme for IPR Awareness – Creative India; Innovative India’ has been launched by Cell for IPR Promotion and Management (CIPAM) under the aegis of the Department of Industrial Policy and Promotion.

Q2. IPR are the rights given to persons over the creations of their minds. IPR stands for-

International Property Rights

Intellectual Person Rights

Increment Property Rights

Intellectual Personal Rights

Intellectual Property Rights

Solution:

Intellectual Property Rights or IPR are the rights given to persons over the creations of their minds.

Q3. The Department of Industrial Policy & Promotion was established in ____________ and has been reconstituted in the year 2000 with the merger of the Department of Industrial Development.

1999

1993

1995

1997

1996

Solution:

The Department of Industrial Policy & Promotion was established in 1995 and has been reconstituted in the year 2000 with the merger of the Department of Industrial Development.

Q4. The Government of India has introduced Merchandise Exports from India Scheme (MEIS) through the Foreign Trade Policy (FTP) 2015-20 w.e.f-

01st April 2015

01st April 2016

01st April 2018

01st April 2017

01st April 2014

Solution:

The Government of India has introduced Merchandise Exports from India Scheme (MEIS) through the Foreign Trade Policy (FTP) 2015-20 w.e.f. April 1, 2015.

Q5. Industrial production growth slipped to a seven-month low of ___________ in May mainly due to sluggish performance of manufacturing and power sectors and other reasons, according to the data released by the Central Statistics Office.

3.8%

3.6%

3.4%

3.2%

3.0%

Solution:

Industrial production growth slipped to a seven-month low of 3.2% in May mainly due to sluggish performance of manufacturing and power sectors and other reasons, according to the data released by the Central Statistics Office.

Q6. The new denomination has Motif of _______________ on the reverse, depicting the country’s cultural heritage in the Rs100 denomination banknotes in the Mahatma Gandhi (New) Series.

Rani Ki Vav

Sun Temple

Hampi with Chariot

Sanchi Stupa

Red Fort

Solution:

The Reserve Bank of India will shortly issue Rs100 denomination banknotes in the Mahatma Gandhi (New) Series, bearing the signature of Dr Urjit R. Patel, Governor, Reserve Bank of India. The new denomination has Motif of “RANI KI VAV” on the reverse, depicting the country’s cultural heritage. The base colour of the note is Lavender. The dimension of the banknote will be 66 mm × 142 mm.

Q7. The 28th meeting of GST Council was held in New Delhi recently. In this meeting, the exemption limit for traders in Assam, Arunachal Pradesh, Himachal Pradesh and Sikkim has been increased from 10 lakh to ________ lakh rupees.

15 lakh rupees

30 lakh rupees

25 lakh rupees

20 lakh rupees

50 lakh rupees

Solution:

The 28th meeting of GST Council was held in New Delhi. It reduced tax rates on more than 50 items and exempted sanitary napkins, rakhis, stone, marble, wooden deities and Saal leaves from GST. Finance Minister Piyush Goyal chaired the 28th GST Council meeting in New Delhi. GST council has cleared 46 amendments which will be passed in Parliament. The exemption limit for traders in Assam, Arunachal Pradesh, Himachal Pradesh and Sikkim has been increased from 10 lakh to 20 lakh rupees.

Q8. In 3rd Bi-monthly Policy Statement, RBI’s monetary policy committee (MPC) raised policy rates by 25 basis points to 6.5% on account of inflationary pressures arising due to hike in minimum support price. What is the Bank rate at present (As on 02nd August 2018)?

6.25%

6.75%

6.55%

6.00%

7.00%

Solution:

In 3rd Bi-monthly Policy Statement, the Reserve bank of India’s (RBI’s) monetary policy committee (MPC) raised policy rates by 25 basis points to 6.5% on account of inflationary pressures arising due to hike in minimum support price. he committee has increased the policy repo rate under the liquidity adjustment facility (LAF) by 25 basis points to 6.5%. Consequently, the reverse repo rate under the LAF stands adjusted to 6.25%, and the marginal standing facility (MSF) rate and the Bank Rate to 6.75%.

Q9. India's economy is expected to clock GDP growth of ____________ in this financial year according to a Morgan Stanley report.

7.1%

7.2%

7.3%

7.4%

7.5%

Solution:

India's economy is expected to clock GDP growth of 7.5% in this financial year according to a Morgan Stanley report. The growth recovery will remain robust, supported initially by consumption and exports. In the January-March quarter, India's gross domestic product (GDP) grew at the fastest pace in seven quarters at 7.7% on robust performance by manufacturing and service sectors as well as good farm output.

Q10. In the 29th meeting, GST council approves cash incentives to promote Digital transactions. Finance Minister Piyush Goyal announces ____________ Cashback upto Rs 100 for the Digital Transactions done via BHIM, Rupay or USSD mode.

10%

25%

20%

15%

Solution:

In the 29th meeting, GST council approves cash incentives to promote Digital transactions. Finance Minister Piyush Goyal announces 20% Cashback upto Rs 100 for the Digital Transactions done via BHIM, Rupay or USSD mode.

Q11. Flipkart’s digital payment subsidiary PhonePe has acquired Zopper Retail – a hyperlocal Point of Sale POS platform for small and medium businesses. POS stands for-

Point of Service

Point of Sale

Point of Scheme

Point of System

Point of Security

Solution:

Flipkart’s digital payment subsidiary PhonePe has acquired Zopper Retail – a hyperlocal Point of Sale (POS) platform for small and medium businesses.

Q12. Microsoft and Walmart are teaming up for a strategic partnership that will take on rival Amazon in both technology and retail. Walmart is based in-

France

Brazil

Germany

Canada

America

Solution:

Microsoft and Walmart are teaming up for a strategic partnership that will take on rival Amazon in both technology and retail. Walmart announced at Microsoft’s Inspire partner conference, that it’s partnering with Microsoft to use the company’s cloud services. Walmart Inc. is an American multinational retail corporation that operates a chain of hypermarkets, discount department stores, and grocery stores.

Q13. The European Union regulators have slapped Alphabet-owned Google with a record ___________ antitrust fine for abusing the dominance of its Android mobile operating system.

$5 billion

$2 billion

$10 billion

$7 billion

$20 billion

Solution:

The European Union regulators have slapped Alphabet-owned Google with a record 4.34 billion euro ($5 billion) antitrust fine for abusing the dominance of its Android mobile operating system. According to the EU, Google's parent company has unfairly favoured its own services by forcing smartphone makers to pre-install Google apps Chrome and Search in a bundle with its app store, Play.

Q14. Mobile tower arm of telecom major Bharti Airtel, Infratel announced that it has received clearance from ___________ for its merger with Indus Towers.

FICCI

TRAI

RBI

SEBI

IRDAI

Solution:

Mobile tower arm of telecom major Bharti Airtel, Infratel announced that it has received clearance from SEBI for its merger with Indus Towers. It will now approach the National Company Law Tribunal for its approval. The combined company will own 100% of Indus Towers jointly owned by Bharti Infratel (42% holding), Vodafone (42%), Idea Group (11.15%) and Providence (4.85%).

Q15. Name the company, which beat Tata Consultancy Services (TCS) to become the most valued company in India recently?

Bharti Airtel

Wipro

RIL

ONGC

IOC

Solution:

India's richest person Mukesh Ambani-led Reliance Industries Limited (RIL) beat Tata Consultancy Services (TCS) to become the most valued company in India. RIL's market capitalisation during the day was Rs7.44 trillion as compared to TCS' Rs7.39 trillion. RIL had recently reported its highest ever quarterly net profit of Rs9,459 crore, for the April-June quarter.