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1.

The Department of Posts launched a logo and tagline design contest for its soon-to-be set up India Post
Payments Bank on which of the following website?
A) GovPost
B) IndianPost
C) MyGov
D) PayPost
E) None of these
Answer & Explanation
C) MyGov
Explanation:
The cabinet on June 1, 2016, gave its nod to setting up of the IPPB under the Department of Posts.
The Department of Post wants to connect with and involve the people of India in designing the DNA of the India Post
Payments Bank. So it launched this contest.
The contest is open to all Indian citizens, institutions, agencies and entities for a period of one month, until July 9, 2016.
2. To provide loans to Indo-Spanish joint ventures and local enterprises in India, State Bank of India (SBI) has
signed a memorandum of agreement with Spains which bank to enhance business synergies?
A) Caja Madrid
B) CaixaBank
C) Liberbank
D) Gallego bank
E) None of these
Answer & Explanation
B) CaixaBank
Explanation:
As per the agreement, they will expand banks guarantee transaction businesses by jointly providing credit to IndianSpanish joint ventures and Indian local enterprises
The banks will collaborate in areas of mutual interest such as syndicated loan business, guarantee transactions, trade
finance and export credit agency finance, infrastructure finance and networking services, among others.
3. Recently an Indian bank launched next generation features on its app iMobile which will enable customers to
instantly pay taxes and book railway tickets within the app. Name the bank.
A) Federal Bank
B) Punjab National Bank

C) Kotak Mahindra Bank


D) ICICI Bank
E) Bandhan Bank
Answer & Explanation
D) ICICI Bank
Explanation:
New features will enable customers to instantly pay taxes and book railway tickets within the app. iMobile users will also
be able to purchase travel & motor insurance as well as buy mutual funds from 19 asset management companies.
4. According to HSBC, India is expected to contribute how much of the world GDP by the middle of next decade?
A) 4.3%
B) 4.9%
C) 5.2%
D) 3.4%
E) None of these
Answer & Explanation
B) 4.9%
Explanation:
India is expected to equal Chinas 4.9% share of world GDP in 2005 by the middle of next decade and if the country
grows faster, the date can be advanced.
Indias economy grew a stronger-than-expected 7.9% in the March quarter, making it the fastest growing major
economy.
HSBC said that if India grows at 8% rate, it would achieve the 4.9% share by 2027.
5. Which payment company launched a new POS terminal which seeks to ease payments across millions of small
merchant outlets across India?
A) PayUmoney
B) Udio
C) Paytm
D) MoneyGram
E) None of these
Answer & Explanation

A) PayUmoney
Explanation:
It can allow even the smallest of merchants to start accepting card based payments. It can accept all credit/debit cards.
The POS terminal is easy to set up, can be operated using a pre- or post-paid SIM, and does away with the use of
paper receiptsmaking it cost & battery effective, and, of course, very environment friendly. With a simple and hasslefree documentation policy, a merchant can start using a PayUmoney POS terminal within 48 hours of signing up for the
service.
6. Which of the following company launched Receive and Win campaign for Ramzan?
A) Mobikwik
B) Freecharge
C) Paytm
D) MoneyGram
E) Udio
Answer & Explanation
D) MoneyGram
Explanation:
Global money transfer service provider, MoneyGram, has rolled out Receive & Win, a month-long a promotional
campaign set to run throughout the Ramadan period, beginning 6 June 2016. The exercise affords customers the
opportunity to win an all-expense paid Umrah trip for two.
The promotional push by MoneyGram is set to run in the Indian states of Telangana, Bihar, Uttar Pradesh, Gujarat, and
Kerala.
7. Name the newly appointed MD of State Bank of Mysore.
A) NK Chari
B) Romil Bhattacharya
C) Surya Kumar
D) CR Sasikumar
E) DP Sardana
Answer & Explanation
A) NK Chari
Explanation:
N.K.Chari, the new Managing Director of State Bank of Mysore, assumed office on May 30. Prior to his new position, he
was the Deputy Managing Director of State Bank of India.

8. Name the newly appointed MD of State Bank of Travancore.


A) PN Naidu
B) Naresh Sharma
C) NK Chari
D) CR Sasikumar
E) Ravi Verma
Answer & Explanation
D) CR Sasikumar
Explanation:
CR Sasikumar assumed the charge of Managing Director of State Bank of Travancore (SBT), one of the associate
banks of State Bank of India (SBI), on June 1.
9. Which of the following international organization has lead the race to buy stake in government controlled IDBI
bank?
A) Asian Development Bank
B) Commonwealth Development Corporation
C) International Finance Corporation
D) GIC of Singapore
E) None of these
Answer & Explanation
C) International Finance Corporation
Explanation:
World Banks private sector lending arm International Finance Corporation (IFC) has emerged as the top contender to
buy around 15 per cent in government controlled IDBI Bank, even as talks have been held with at least three other
players-GIC of Singapore, Asian Development Bank and Commonwealth Development Corporation.
IFC is World Bank arm and is looking for a greater say in running IDBI.
10. Government has asked banks to increase the coverage under which of the following schemes?
A) Atal Pension Yojana
B) Jan Dhan Yojana
C) Suraksha Bima Yojana
D) Both A and C
E) None of these
Answer & Explanation

A) Atal pension Yojana


Explanation:
Government has asked banks to take steps to increase coverage under the Atal pension scheme as banks failed in
meeting the sales target for the social security scheme in the last financial year.
All the large PSBs, including State Bank of India, fell short of the target by a wide margin.
1. The BRICS New Development Bank has issued its first ______ denominated bonds.
A) Uridashi
B) Yuan
C) Masala
D) Rupee
E) None of these
Answer & Explanation
B) Yuan
Explanation:
The New Development Bank (NDB) of the BRICS countries is set to issue its first yuan-denominated bonds with plans to
release more bonds in local currencies including in Indian Rupee
The banks first five-year yuan-denominated bonds, also referred as green bonds, will be issued after receiving a rating
from international ratings agencies as well as getting authorities approval
2. Which of the following was declared as Best Company Promoting Sports (Private sector) in the country at the
National Sports Awards 2015?
A) Kotak Mahindra Bank
B) Yes Bank
C) Axis Bank
D) HDFC Bank
E) None of these
Answer & Explanation
B) Yes Bank
Explanation:
Lalita Babar was named Sportsperson of the Year in India Sports Awards.
3. Insurance regulator IRDAI has warned which insurance company for non-compliance of Expenses of
Management (EoM) norms?
A) Sahara India Life Insurance

B) Bajaj Allianz Life Insurance


C) Aegon Life Insurance
D) IDBI Federal Life Insurance
E) Max Life Insurance
Answer & Explanation
A) Sahara India Life Insurance
Explanation:
Insurance regulator IRDAI has warned Sahara India Life Insurance Co for non-compliance of Expenses of
Management (EoM) norms, and asked it to bring the expenditure levels within the limits by 2016-17-end.
4. Which of the following schemes was replaced by Atal Pension Yojana (APY) in June 2015?
A) Swabhiman
B) Antyodaya Yojna
C) National Pension System
D) Swavalamban
E) None of these
Answer & Explanation
D) Swavalamban
Explanation:
Under APY, Rs 750 crore have been collected so far with 2.8 million accounts
Pension fund regulator Pfrda is looking at nearly doubling the Atal Pension Yojana (APY) this fiscal year by opening 5
million accounts
5. Who has been appointed as the CEO and MD of Airtel Payments Bank?
A) Rakesh Arora
B) Shashi Arora
C) Bharti Mittal
D) Manik Bose
E) Raja Malik
Answer & Explanation
B) Shashi Arora
Explanation:
Airtel Payments Bank has appointed Shashi Arora as the CEO & Managing Director of the company, subject to the

approval of the Reserve Bank of India .


Airtel is the first among the 11applicants which were granted in-principle approvals in August 2015 to receive the final
license from the central bank.
6. Which of the following companies has tied up with ICICI Lombard General Insurance to offer motor insurance
to its customers?
A) Audi
B) BMW
C) Ford
D) Porsche
E) Volkswagen
Answer & Explanation
B) BMW
Explanation:
BMW has partnered with ICICI Lombard General Insurance to provide the most comprehensive and beneficial motor
insurance solutions to BMW customers.
7. HDFC Ergo general insurance company has agreed to buy which of the following companys general insurance
business for Rs 551 crore?
A) L&T
B) Tata
C) ICICI Lombard
D) Bajaj Allianz
E) IFFCO-Tokio
Answer & Explanation
A) L&T
Explanation:
HDFC has agreed to pay around 1.1 times the gross premium of L&T General Insurance Company
This will help HDFC Ergo improve its ranking in the sector from fourth largest to third largest in the private sector
insurance segment.
8. The RBI has allowed Axis Bank to raise shareholding to up to ____ from the earlier limit of 49%.
A) 54%
B) 62%
C) 59%

D) 64%
E) 70%
Answer & Explanation
B) 62%
Explanation:
The Reserve Bank of India (RBI) allowed the bank to raise foreign shareholding limit to 62%, from the earlier limit of
49%.
Foreign institutional investors (FIIs)/registered foreign portfolios investors (RFPIs) can now invest from the existing 49%
up to 62%of the paid-up capital of Axis Bank under the Portfolio Investment Scheme (PIS)
9. Payments bank of the postal department will have how much corpus at the beginning?
A) Rs 900 crore
B) Rs 600 crore
C) Rs 1000 crore
D) Rs 800 crore
E) Rs 700 crore
Answer & Explanation
D) Rs 800 crore
Explanation:
The payments bank of eth department will be functional by March 2017. It is one of the 11 applicants which got in
principle approval to set up payments bank in the country.
10. Which of the following banks has reported its point of sales terminal (PoS) network as largest in the country?
A) HDFC
B) Punjab National Bank
C) SBI
D) ICICI
E) Axis Bank
Answer & Explanation
C) SBI
Explanation:
SBIs point of sales terminal network has become the largest in the country after it took over its private sector rivals. It
plans to add 1 lakh PoS terminals in current fiscal ending March 2017.

1.
RBI has set which date as the deadline to exchange pre-2005 notes?
A) May 30, 2016
B) May 15, 2016
C) June 01, 2016
D) June 30, 2016
E) None of these
Answer & Explanation
D) June 30, 2016
Explanation:
Earlier the date was set to December 31, 2015. In December, Reserve Bank extended the deadline for exchanging pre2005 currency notes of various denominations, including Rs 500 and Rs 1,000, by another six months to June 30, 2016.
2. From which date, guidelines to change the method for calculating base rate based on the marginal cost of
funds came into effect?
A) May 1, 2016
B) April 1, 2016
C) February 1, 2016
D) June 1, 2016
E) March 1, 2016
Answer & Explanation
B) April 1, 2016
Explanation:
All rupee loans sanctioned and credit limits renewed w.e.f. April 1, 2016 will be priced with reference to the Marginal
Cost of Funds based Lending Rate (MCLR) which will be the internal benchmark for such purposes.
3. What is the target for Regional Rural Banks to give to Priority Sector lending?
A) 65%
B) 60%
C) 70%
D) 50%
E) 75%
Answer & Explanation

E) 75%
Explanation:
Earlier the target was 60% for RRBs. Now with effect from January 2016, it is 75% as per revised norms.
4. In March, 2016, the International Finance Corporation (IFC), the investment arm of the World Bank launched its
first Uridashi Masala Bonds. To which country do they belong?
A) Japan
B) China
C) Russia
D) Slovakia
E) None of these
Answer & Explanation
A) Japan
Explanation:
International Finance Corporation (IFC) today launched its first Uridashi Masala Bonds (Japanese bonds) to mobilise Rs
30 crore from Japanese retail investors.
Like Masala Bonds are for Indians.
5. Which of the following banks has tied up with online payment solutions startup Click&pay?
A) Bandhan Bank
B) IDFC bank
C) Yes bank
D) RBL bank
E) None of these
Answer & Explanation
C) Yes bank
Explanation:
Private sector lender Yes Bank, has partnered with Click&pay, T-Hubs portfolio company and a mobile-based payment
solutions enterprise, to facilitate cashless, secure and flexible transactions for customers. As a part of this alliance,
Click&pay will issue Yes Bank sponsored mobile wallets and employ Yes Banks immediate payments service (IMPS)
payments platform which will help Click&pay to process instant proximity transactions with merchants and person to
person.
6. Which currency is going to be added in IMFs SDR basket effective from October 1, 2016?
A) Yen

B) Renminbi
C) Ruble
D) Dinar
E) Indian Rupee
Answer & Explanation
B) Renminbi
Explanation:
According to the last SDR review in 2010, the use of the Chinese renminbi (RMB) in international payments has risen
substantially, and also China continues to meet the export criterion for SDR inclusion, so Chinese renminbi (RMB) is
also going to be added in SDRs basket.
7. BankBazaar.com launched a new One Loan Two Homes program to help the residents of which city?
A) Chennai
B) Bengaluru
C) Srinagar
D) Pune
E) Amritsar
Answer & Explanation
A) Chennai
Explanation:
BankBazaar.com, an online financial marketplace, has launched a new One Loan Two Homes program to help the
flood-affected citizens of Chennai.
8. Which committee submitted its report on Insolvency and Bankruptcy Code 2015?
A) Anand Sharma
B) Bhupender Yadav
C) Naresh Gujral
D) Praful Patel
E) None of these
Answer & Explanation
B) Bhupender Yadav
Explanation:

Officials from the ministries of finance and corporate affairs briefed a Parliamentary panel on the Insolvency and
Bankruptcy Code, 2015, which seeks to provide an easy exit option for insolvent and sick firms.
9. The National Payments Corporation of India has announced to launch which of the following product by the
year-end?
A) Debit Card
B) Platinum Card
C) Smart Card
D) Credit Card
E) None of these
Answer & Explanation
D) Credit Card
Explanation:
After the Rupay Debit Card which belongs to India, NPCI has decided to launch its much-delayed credit card before the
year-end.
10. Which bank has asked central government help for backup on Winsome Group, Indias second largest willful
defaulter?
A) South Indian Bank
B) Standard Chartered
C) Saraswat Bank
D) Punjab National Bank
E) Deutsche Bank
Answer & Explanation
B) Standard Chartered
Explanation:
Winsome Group is in Indias largest defaulter after Vijay Mallyas Kingfisher Airlines. It owes Rs 6,800 crore to 15 banks
in India. The 15 lenders are led by Standard Chartered.
1.
As per _______, India will have 8-10 very competitive public sector banks from 27 present banks, once the
consolidation phase ends.
A) PM, Narendra Modi
B) RBI Governor, Raghuram Rajan
C) Minister of State for Finance, Jayant Sinha

D) Finance Minister, Arun Jaitley


E) BJP Chief, Amit Shah
Answer & Explanation
C) Minister of State for Finance, Jayant Sinha
Explanation:
India will have 8-10 very competitive public sector banks once the dust settles and the consolidation phase ends,
Union Minister Jayant Sinha said.
2. To reduce the cash transactions in the country, Finance Ministry and RBI have formed a committee which will
be chaired by
A) Ravi Mehra
B) Neeraj Kumar Gupta
C) Pawan Kumar Aggarwal
D) Veer Sharma
E) Neeraj Kumar Bhanot
Answer & Explanation
B) Neeraj Kumar Gupta
Explanation:
The government and the Reserve Bank of India (RBI) have been working on how to reduce cash transactions in the
economy. In this regard, they formed a committee last month, of seven members, chaired by a ministry official, Neeraj
Kumar Gupta.
This group is looking at how to ensure the acceptance of card payments is increased. This will require more of point-ofsales (PoS) machines.
3. Coverfox has tied up with which Indian insurance company?
A) Oriental Insurance
B) Tata AIA Life Insurance
C) IndiaFirst Life Insurance
D) Max Life Insurance
E) Future Generali India Life Insurance
Answer & Explanation
A) Oriental Insurance
Explanation:

Online insurance platform Coverfox.com, has partnered with public sector undertaking, The Oriental Insurance
Company to facilitate the public sector undertakings comprehensive motor insurance product for both four and two
wheelers, online.
4. According to the Forbes list, which Indian bank has been ranked among the worlds ten biggest and most
powerful companies?
A) Punjab National Bank
B) SBI
C) ICICI
D) HDFC
E) None of these
Answer & Explanation
D) HDFC
Explanation:
Ranked 7th, HDFC is the only Indian company in top-ten in this category, where others include Capital One , Visa and
MasterCard.
5. Union bank of India has launched e-SBTR (Electronic Secured Bank Treasury Receipt) in
A) Rajasthan
B) Himachal Pradesh
C) Meghalaya
D) Kerala
E) Maharashtra
Answer & Explanation
E) Maharashtra
Explanation:
UBI launched e-SBTR electronic receipt to facilitate stamp duty rates in Maharashtra
The facility makes it possible to do the necessary paper work and formalities on line and get the endorsement of the
final document at the branch level at one go.
6. Which bank has launched the mobile only bank in the country?
A) Yes Bank
B) DBS Bank
C) RBL Bank

D) ICICI
E) None of these
Answer & Explanation
B) DBS Bank
Explanation:
DBS Bank launched a mobile-only bank in India. The digibank uses technologies, such as biometrics and artificial
intelligence, to enable paperless, signature-less and branchless bank.
7. Recently which has become the first bank in India that has started to issue gold coins?
A) Indian Overseas Bank
B) Vijaya Bank
C) State Bank of Bikaner and Jaipur
D) Indian Bank
E) Bank of Baroda
Answer & Explanation
A) Indian Overseas Bank
Explanation:
Indian Overseas Bank (IOB) has become the first bank to commence the sale of Indian Gold Coin (IGC) in the domestic
market.
It has tied up with MMTC for the sale of IGC of 24 carat purity. The IGC has the national emblem, the Ashok Chakra,
engraved on one side and the face of Mahatma Gandhi on the other
8. Which of the following is going to launch scheme for the financial technology (fintech) entrepreneurs?
A) ICICI
B) RBL Bank
C) SBI
D) HSBC Bank
E) None of these
Answer & Explanation
B) RBL Bank
Explanation:
RBL Bank Ltd, the first private-sector bank to open a dedicated branch for start-ups in Bengaluru last month, will launch
an Entrepreneur-in-Residence (EIR) programme for fintech start-ups in the next 9-12 months.

9. In the Forbes list released recently, which bank has topped the list of worlds biggest and most powerful
companies?
A) European Investment Bank
B) Commercial Bank of China
C) HDFC
D) American Express
E) None of these
Answer & Explanation
D) American Express
Explanation:
American Express has topped the list, while Indias HDFC is ranked 7th and the only Indian bank among first 10 banks
in the list.
10. The Cabinet Committee on Economic Affiars (CCEA) has given ex post facto approval to increase the foreign
investment limit in YES Bank to how much percent?
A) 50%
B) 80%
C) 75%
D) 67%
E) 85%
Answer & Explanation
C) 75%
Explanation:
The CCEA chaired by Prime Minister Narendra Modi granted ex post facto approval to YES Bank to increase foreign
investment limit to 75 percent from the existing foreign equity of 41.87 percent without any sub-limits, for investment by
way of issue of non-equity shares and other permissible instruments to eligible non-resident investors
1. The Japanese financial company Nomura has departure from its mutual fund joint venture with which of the
following?
A) Oriental Insurance Company
B) ICICI
C) Life Insurance Corporation of India
D) IDFC bank
E) None of these

Answer & Explanation


C) Life Insurance Corporation of India
Explanation:
On 18 Jan 2011, Nomura and LIC had entered into agreement. And now after the departure of Nomura from this joint
venture, LIC Nomura Mutual Find will be called LIC Mutual Fund
2. In the whole Indian banking history, which bank has reported the worst loses of Rs 5,367.14 crore?
A) Punjab National Bank
B) Canara Bank
C) Bank of India
D) Indian Bank
E) Bank of Baroda
Answer & Explanation
A) Punjab National Bank
Explanation:
PNB reported the worst loses of Rs 5,367.14 crore for 4th quarter ended 3st march 2016 against backdrop of a surge in
bad loans.
3. Saudi Arabia based Islamic Development Bank has announced to open its first branch in India at
A) Varanasi
B) Mumbai
C) Ahmedabad
D) Hyderabad
E) Bengaluru
Answer & Explanation
C) Ahmedabad
Explanation:
It is a part of MoU between Indias Exim bank and IDB during PM Modis visit to UAE in April this year.
IDB is also keen at investing in small and medium enterprises of Gujarat.
4. Which states high court has issued notice to centre and SBI on a PIL seeking to quash notification of
recruitment of 18,000 Junior Associates and Junior Agricultural Associates?
A) Meghalya
B) Punjab and Haryana

C) Madras
D) Bombay
E) Manipur
Answer & Explanation
C) Madras
Explanation:
SBI in its notification had said that those having default on loans cannot apply for the vacancies.
PIL is filed by A Gurukrishna Gokul, an aspirant. According to him, that if SBI allows these defaulters to apply for exam,
then after the selection process, they would be able to pay the loans.
5. One and a half years after the launch of Jan Dhan Yojana scheme, what is the average balance in nearly 22
crore bank accounts opened under this scheme?
A) Rs 1900
B) Rs 2000
C) Rs 1650
D) Rs 1725
E) Rs 1880
Answer & Explanation
D) Rs 1725
Explanation:
The scheme was launched to empower the poor financially by encouraging savings, easing loan delivery and direct
cash transfers. Most of the accounts opened under this are of the people from far flung rural areas.
6. EBI has instructed the banks to shift from magnetic stripe based ATM and debit cards to _______ chip and Pin
based model of cards.
A) EMV
B) EMC
C) VME
D) IC
E) None of these
Answer & Explanation
A) EMV
Explanation:

This is done to ensure protection of cards from cloning, skimming and other forms of frauds which can happen on a
magnetic strip.
EMV is Europay, MasterCard and Visa
7. Which of the following has been chosen as the bank note of the year award 2015?
A) Russias 100 ruble note
B) Swedens 20 Kronor note
C) Scotlands 5 pound polymer note
D) New Zealands $5 note
E) None of these
Answer & Explanation
D) New Zealands $5 note
Explanation:
International Bank Note Society (IBNS) has announced that its voting membership has selected the reserve bank of
New Zealand to receive the bank note of the year award 2015.
8. International Bank Note Society (IBNS) was established in the year
A) 1992
B) 1978
C) 1945
D) 1961
E) 1960
Answer & Explanation
D) 1961
Explanation:
The IBNS Banknote of the Year award is an initiative of the IBNS to recognize an exceptional banknote issued each
year.
Banknotes nominated must have been issued to the public (specimens and non-circulating currencies are inelligble) for
the first time during the year of the award, and must have artistic merit and/or innovative security features, and be in
general circulation
9. NABARD has signed agreement with which country for a special programme on Soil protection and
Rehabilitation for Food Security?
A) Sri Lanka
B) Japan

C) Germany
D) Brazil
E) None of these
Answer & Explanation
C) Germany
Explanation:
The programme is part of the Germans govt. recently introduced initiative One World, No Hunger.
10. Recently which of the following organization has raised insurance fund to fight pandemics?
A) IMF
B) World Bank
C) Asian Development Bank
D) United Nation Organization
E) BRICS New Development Bank
Answer & Explanation
B) World Bank
Explanation:
An emergency insurance fund worth up to US$500m has been established by the World Bank Group to assist
developing countries in the event of a pandemic.
The Pandemic Emergency Financing Facility (PEF) was launched on 21 May 2016, with a commitment from Japan to
contribute US$50m towards the initiative. The worlds poorest countries will be able to benefit from insurance against
pandemics through the PEF, which will be funded by the World Bank Groups development partners.
1.
Recently three development banks requested India to become their members. Which one of the following is not
among those three development banks?
A) Caribbean Development Bank
B) Inter-American Development Bank
C) European Bank for Reconstruction and Development
D) Development Bank of Latin America
E) Both A and D
Answer & Explanation

D) Development Bank of Latin America


Explanation:
India received requests from the European Bank for Reconstruction and Development (EBRD), the Inter-American
Development Bank (IDB) and the Caribbean Development Bank (CDB) to become members
The government was evaluating the requests and will take a decision soon.
2. According to ICRA report, Indian Securitisation market grew by 45% to around ________ in FY2016.
A) Rs 24,500 cr
B) Rs 20,500 cr
C) Rs 25,000 cr
D) Rs 20,000 cr
E) Rs 35,000 cr
Answer & Explanation
B) Rs 25,000 cr
Explanation:
Indian Securitisation market grew by 45% to around Rs 25,000 cr in FY2016, a reversal of past three years trend,
primarily due revival in asset classes like commercial vehicle and construction equipment says Icra in a report.
3. Which bank has been selected by the Tea Board as the new settlement bank for pan-India e-auction from sale
number 25?
A) Syndicate Bank
B) State Bank of India
C) United Bank of India
D) Bank of India
E) Bank of Baroda
Answer & Explanation
D) Bank of India
Explanation:
IndusInd Bank, which has been the settlement bank for e-auction for the Rs 17,000 crore tea industry, is set to lose the
status and Rs 8,000 crore business in the process.
4. With Tech Mahindra to drop its plan to set up payments bank in the country, the number of entities dropping
their plan to set up payment bank is reached to
A) 4
B) 5

C) 7
D) 3
E) 6
Answer & Explanation
B) 5
Explanation:
Earlier, Cholamandlam, IDFC Bank, Dilip Shantilal Shanghvi, Telenor Financial Services have also dropped their plans.
5. After a survey of 4000 ATMs in the country, RBI deputy Governor SS Mundra announced how much ATMs as
non-working?
A) 1/4th
B) Half
C) 1/3rd
D) 1/5th
E) None of these
Answer & Explanation
C) 1/3rd
Explanation:
Mundra quoted a survey of 4,000 ATMs conducted by a Reserve Bank team recently wherein it has found that almost
one-third of these machines are not in working conditions.
6. Which public sector bank took a decision of not to credit the troubled sectors like steel?
A) State Bank of India
B) United Bank
C) Canara Bank
D) Bank of India
E) Punjab National Bank
Answer & Explanation
E) Punjab National Bank
Explanation:
A week after reporting the worst set of numbers in the nations banking history with a net loss of Rs 5,367 crore for the
March quarter, Punjab National bank said it will be cautious on troubled sectors like steel till a lasting solution is found.

7. From which of the following are the mobile wallet companies like Paytm, Mobikwik and Oxigen facing a threat?
A) Unified Payments Interface
B) new NBFCs
C) RBI
D) Payments Bank
E) None of these
Answer & Explanation
A) Unified Payments Interface
Explanation:
UPI which is launched by NPCI is to serve as a payment platform of all bills through mobile using a single number.
8. IRDAI has imposed a penalty of Rs 35 lakh on which of the following company?
A) HDFC Life
B) Future Generali
C) LIC
D) Oriental Insurance Company
E) SBI General Insurance
Answer & Explanation
B) Future Generali
Explanation:
IRDAI has imposed a penalty of Rs 35 lakh on Future Generali India Insurance Co for violating various laws including
the ones related to payments, licensing of insurance agents and file and use policy.
9. RB has raised its concern over which accounts that can prove to be fraudulent?
A) PF Accounts
B) Current Accounts
C) Post Office Accounts
D) Jan Dhan Accounts
E) None of these
Answer & Explanation
D) Jan Dhan Accounts
Explanation:

Raising concerns that Jan Dhan accounts can be misused by money mules, RBI warned they are very vulnerable to
frauds and asked banks to be on guard against such activities.
10. Banks Board Bureau has suggested the 27 Public Sector Banks to be merged into how many banks?
A) 5
B) 10
C) 8
D) 4
E) 6
Answer & Explanation
E) 6
Explanation:
Vinod Rai head of BBB said stronger banks should decide which of their bad loans to shift off their balance sheets, while
weaker banks need fresh capital before a round of consolidation that would cut the number of state banks to no more
than 6 from 27 now.
1. Private sector HDFC has planned to open approximately how many branches this fiscal?
A) 450
B) 500
C) 600
D) 650
E) 525
Answer & Explanation
B) 500
Explanation:
About 60 per cent of new branches would be coming up in semi-urban and rural areas and the remaining in urban areas
Last fiscal, it had opened 506 branches
2. IT & Communications Minister Ravi Shankar Prasad announced that __________ payments bank will start
functioning from March 2017
A) Airtel M Commerce
B) Cholamandalam Distribution Services Ltd
C) India Post
D) Fino PayTech Ltd
E) Reliance Industries Ltd

Answer & Explanation


C) India Post
Explanation:
It will serve as a wider platform to implement financial inclusion programmes.
About 50 companies, including some from abroad, are keen to partner with postal department for the payments bank,
like World Bank , Citi from America, Barclays from England
3. As per RBI, how many countries will have to apply for its prior approval to establish office or project office in
India?
A) 8
B) 10
C) 4
D) 7
E) None of these
Answer & Explanation
D) 7
Explanation:
The Reserve Bank of India has stated that entities from Pakistan, China, Bangladesh, Sri Lanka, Afghanistan, Iran and
Hong Kong or Macau will require its prior approval to establish branch office or project office or liaison office in India.
4. RBI will issue which new currency notes with inset letter R in both the number panels?
A) 1000
B) 500
C) 100
D) 50
E) 20
Answer & Explanation
A) 1000
Explanation:
The Reserve Bank will shortly issue banknotes of Rs 1000 denominations with inset letter R in both the number panels.
5. Which of the following has told JP Morgan Bank not to give access to Vijay Mallya to $ 40 million?
A) RBI
B) Union Government

C) Finance Ministry
D) Debt Recovery Tribunal
E) SBI
Answer & Explanation
D) Debt Recovery Tribunal
Explanation:
A Debt Recovery Tribunal has ordered JPMorganChase to ensure that defaulter Vijay Mallya doesnt get access to the
$40 million that Diageo Plc. deposited in his account in the banks New York branch as part of a $75 million deal to
make him resign from Untied Spirits Ltd chairmanship.
6. DBS Bank is going to open its largest tech hub in which city of India?
A) Mumbai
B) Chennai
C) Hyderabad
D) New Delhi
E) Kolkatta
Answer & Explanation
C) Hyderabad
Explanation:
Singaporean lender DBS Bank is creating its biggest technology hub outside of headquarters, in Hyderabad where the
company plans to have over 1,500 headcount.
7. RBI has told the co-operative banks to report fraud cases of ______ to Department of Co-operative Bank
Supervision?
A) below Rs 1 crores
B) above Rs 1 crores
C) below Rs 5 crores
D) above Rs 1 crores
E) below Rs 2 crores
Answer & Explanation
A) below Rs 1 crores
Explanation:
Below 1 crore to DCBS and above Rs 1 crore to Central Fraud Monitoring Cell (CFMC)

8. Which of the following banks has told the passport authorities to stop defaulters from going abroad?
A) Punjab National Bank
B) Bank of Baroda
C) State Bank of India
D) Reserve bank of India
E) Corporation Bank
Answer & Explanation
A) Punjab National Bank
Explanation:
After the Vijay Malaya case PNB has started moving the passport authorities to ensure that wilful defaulters do not
leave the country without the banks approval.
9. RBI has given approval to how many banking companies to accept payments of Income Tax dues?
A) 27
B) 28
C) 29
D) 25
E) 22
Answer & Explanation
C) 29 Explanation:
RBI has designated 29 banks where people can pay their I-T advances besides accepting the dues at its own office.
10. How much FDI is there for Asset Reconstruction Companies?
A) 50%
B) 100%
C) 80%
D) 49%
E) 27%
Answer & Explanation
B) 100%
Explanation:
To tackle bad debts in the banking sector, finance minster Arun Jaitley allowed 100% foreign direct investment (FDI) in
asset reconstruction companies (ARC) and foreign portfolio investors (FPI) can invest into security receipts.

1.
Who has been appointed as the head of committee on the Fiscal Responsibility and Budget Management
(FRBM)?
A) R Gandhi
B) Arvind Subramaniam
C) Arvind Panagriya
D) N K Singh
E) Urjit Patel
Answer & Explanation
D) N K Singh
Explanation:
Centre has constituted 5 member committee on FRBM headed by N K Singh.
2. Which of the following entities have dropped their plan to set up Payments Bank in the country?
A) Cholamandalam Distribution Services Ltd, IDFC Bank, Telenor Financial Services
B) Telenor Financial Services, Tech Mahindra Ltd, Cholamandalam Distribution Services Ltd
C) IDFC Bank, Dilip Shantilal Shanghvi, Telenor Financial Services
D) Tech Mahindra Ltd, Fino PayTech Ltd, IDFC Bank
E) IDFC Bank, Reliance Industries Ltd, Dilip Shantilal Shanghvi
Answer & Explanation
C) IDFC Bank, Dilip Shantilal Shanghvi, Telenor Financial Services
Explanation:
Telenor Financial Services, IDFC Bank and Dilip Shanghvi announced the withdrawal of their plans to set up a
payments bank in India.
The decision to abandon plans to set up a payments bank, it is learnt, was taken as the promoters collectively felt that
they lacked adequate physical presence in terms of offices or branches.
3. According to Moodys report, SBI associate banks and Bharatiya Mahila Bank merger with SBI will cost how
much?
A) Rs 1,260 crore
B) Rs 1,680 crore
C) Rs 1,360 crore
D) Rs 2,660 crore
E) Rs 1,660 crore

Answer & Explanation


E) Rs 1,660 crore
Explanation:
SBI had proposed the merger of its associate banks and BMB with it. It will cost Rs 1,660 crore ($250 million) according
Moodys.
The merger will have limited impact on SBI credit metrics given that SBI already fully owns SBH and SBP and has
majority stakes in the other three associate banks .
4. Which of the following entity has told the Urban Cooperative Banks to report Rs 1-crore and above fraud to
Central Fraud Monitoring Cell?
A) RBI
B) SEBI
C) Central Government
D) IDBI
E) None of these
Answer & Explanation
A) RBI
Explanation:
The RBI said those involving Rs 1 crore and above will have to be reported to its Central Fraud Monitoring Cell (CFMC)
at Bengaluru within three weeks of detection.
5. Which foreign bank has decided to shut its half branches in India due to customers going digital?
A) RBS Bank
B) DBS Bank
C) Deutsche Bank
D) HSBC Bank
E) Doha Bank
Answer & Explanation
D) HSBC
Explanation:
Hong Kong & Shanghai Banking Corp. ( HSBC ) will shut 24 of its 50 branches in India and reduce its presence to 14
cities in the country as it seeks to push more retail and wealth management business to the online channel.

6. After the proposal of SBI merger for its associate banks with itself, centre asked which banks to merge with
other stronger banks?
A) Bank of India, Vijaya Bank, and Bank of Maharashtra
B) UCO Bank, Bank of India and Indian Overseas Bank
C) United Bank of India, Bank of India and Vijaya Bank
D) UCO Bank, Bank of India, and Bhartiya Mahilla Bank
E) Corporation Bank, Indian Overseas Bank, and OBC Bank
Answer & Explanation
B) UCO Bank, Bank of India and Indian Overseas Bank
Explanation:
There have been some discussions on the merger of these three weak banks with more financially sound lenders.
7. Which bank has launched its branch called SmartUp for the startups as a part of Startup India, Standup India
Mission?
A) Bandhan Bank
B) HDFC
C) Doha Bank
D) Yes Bank
E) Punjab National Bank
Answer & Explanation
B) HDFC
Explanation:
HDFC Bank, Indias second-largest private sector lender HDFC Bank has launched SmartUp, a dedicated solution for
startups to fulfil all their banking needs.
8. With association with which of the following, ICICI Bank has launched countrys first contactless business
credit card for SMEs?
A) Air India
B) Infosys
C) Department of Posts
D) SIDBI
E) Jet Airways
Answer & Explanation

E) Jet Airways
Explanation:
ICICI Bank launched the countrys first contactless business credit card in association with Jet Airways for small and
mid-sized enterprises (SMEs) and their employees.
9. Who has been made responsible for the Anti-Money Laundering Regulations related compliance in
Participatory Notes?
A) SEBI
B) User
C) Issuer
D) Market Regulator
E) None of these
Answer & Explanation
C) Issuer Explanation:
According to new SEBI norms, the issuer is responsible for any Anti-Money Laundering Regulations related compliance.
10. Which of the following banks has recently started online trade transactions between Indian and Nepal?
A) Punjab National Bank
B) SBI
C) Axis Bank
D) Nepal SBI
E) None of these
Answer & Explanation
D) Nepal SBI
Explanation:
Nepal SBI is one of the largest overseas subsidiaries of SBI. It has started online trade transactions between Indian and
Nepal.
When did State Bank of Indore merged with its parent bank, the State bank of India?
A) 2008
B) 2009
C) 2010
D) 2011
E) 2012

Answer & Explanation


C) 2010
Explanation:
State Bank of Saurashtra merged in 2008.
Now, the five associate banks have also proposed to merge with SBI.
1. Countrys largest lender, the State Bank of India has proposed to merge which of the following public sector
bank with itself?
A) Bharatiya Mahila Bank
B) UCO Bank
C) Vijaya Bank
D) Bank of Maharashtra
E) None of these
Answer & Explanation
A) Bharatiya Mahila Bank
Explanation:
SBI has decided to merge its 5 associate banks and BMB with it and asked for governments approval.
2. Where is the foreign bank, DBS bank going to set up its biggest technology hub in India?
A) Kolkatta
B) Bengaluru
C) Hyderabad
D) New Delhi
E) Mumbai
Answer & Explanation
C) Hyderabad
Explanation:
Singaporean lender DBS Bank is creating its biggest technology hub outside of headquarters, in Hyderabad where the
company plans to have over 1,500 headcount.
3. Which foreign bank has decided to shuts down its retail banking branches in India?
A) RBS Bank
B) DBS Bank
C) Deutsche Bank

D) HSBC Bank
E) Doha Bank
Answer & Explanation
A) RBS Bank
Explanation:
The Royal Bank of Scotland (RBS) will start shutting down its ten branches in India as it exits from the country following
an announcement in February 2015.
4. Which private sector bank has started a campaign on social media, Twitter to allow the applicants to sell
themselves to become an employee of the bank?
A) HDFC bank
B) Yes Bank
C) DCB Bank
D) IDFC Bank
E) Bandhan Bank
Answer & Explanation
D) IDFC Bank
Explanation:
IDFC Bank is now making applying for a new job as simple as sending out a tweet. The countrys newest private sector
lender has just rolled out the first-of-its-kind Twitter campaign, #IDFCTwitterResume, where you can sell yourself in 140
characters and land a job in the bargain.
Job openings will be posted on Linkedin, Twitter & Facebook and the campaign will continue till May 24. Post this date,
job seekers can continue to post resumes using the same hash tag.
5. Which of the following bank has launched mVisa a mobile-based payments solution?
A) HSBC Bank
B) ICICI Bank
C) SBI
D) Canara Bank
E) Yes Bank
Answer & Explanation
C) SBI
Explanation:

mVisa is a card-less solution which facilitates payment by scanning the QR code displayed at the merchant outlet or
from the merchants mobile
6. Cental govt. has approved the currency swap agreement between RBI and which bank?
A) Swiss National Bank
B) Reserve Bank of New Zealand
C) Reserve Bank of Australia
D) Bank of England
E) Central Bank of United Arab Emirates (UAE)
Answer & Explanation
E) Central Bank of United Arab Emirates (UAE)
Explanation:
As per the MoU signed in February, RBI and the Central Bank of UAE will consider signing a bilateral Currency Swap
Agreement on mutually agreed terms and conditions after undertaking technical deliberations, subject to concurrence of
respective governments.
7. Which of the following entities is deciding to get converted to green bank?
A) Indian Energy Exchange Ltd
B) Indian Renewable Energy Development Agency
C) Department of Posts
D) Bureau of Energy Efficiency
E) Idea Payments Bank Limited
Answer & Explanation
B) Indian Renewable Energy Development Agency
Explanation:
IREDA might be converted to a Green Bank without undergoing any altercation in its basic structure to enable it access
to funds from foreign banks that are not currently supporting solar and wind projects.
A green bank is a public or quasi-public financing institution that provides low-cost, long-term financing support to clean,
low-carbon projects by leveraging public funds through the use of various financial mechanisms to attract private
investment so that each public dollar supports multiple dollars of private investment.
8. According to an estimate, Indias bad loan worth may be bigger than which countrys economy?
A) Switzerland
B) New Zealand
C) Belgium

D) Australia
E) Bhutan
Answer & Explanation
B) New Zealand
Explanation:
Indias bad-loans problem looks much worse than lenders have been willing to acknowledge, heaping pressure on
banks profits and further tightening the screws on distressed debt that could be bigger than New Zealands $170 billion
economy.
9. Which of the following has/have received first in-principle approvals for operating as a Bharat Bill Payments
Operating Unit (BBPOU)?
A) Paytm
B) Freecharge
C) PayU India
D) Airtel E-Commerce
E) Both A and C
Answer & Explanation
E) Both A and C
Explanation:
PayU India and Paytm have got amongst the first in-principle approvals for operating as a Bharat Bill Payments
Operating Unit (BBPOU), allowing them to offer interoperable bill payment service to consumers.
Consumers will be able to pay all their bills anytime and anywhere under the Bharat Bill Payment System (BBPS), and
the companies will provide platforms to offer these services.
1.
Name the company which has launched its new fraud solution called Hunter Fraud Score that will help
banking and insurance companies increase their efficiency in fraud detection in April 2016?
A) Fareportal India Pvt Ltd.
B) Experian India
C) JP Morgan Chase
D) Phenom India
E) Mirus Solutions
Answer & Explanation

B) Experian India
Explanation:
Experian is already playing an active role in fraud detection in India by running the Experian Fraud Bureau. Now
launched its Hunter Fraud Score, a new scoring mechanism that measures the probability of fraud in a credit
application across banking and insurance industries.
2. RBI gave the deadline to price fixed rate loans of up to three years based on marginal cost of funds as
A) February 15, 2016
B) March 1, 2016
C) January 1, 2016
D) April1, 2016
E) June 1, 2016
Answer & Explanation
D) April1, 2016
Explanation:
Centre planned to privatize IDBI Bank, by reducing governments stake from 76.5 per cent to less than 51 per cent in
Nov 2015
3. Finance Minister Arun Jaitley had announced for the consolidation of public sector banks in the budget speech
this year. Which committee is been working as a guiding principle in this regard?
A) Deepak Mohanty Committee
B) Vyas Committee
C) Subrahmanyam Committee
D) Narasimham Committee
E) None of these
Answer & Explanation
D) Narasimham Committee
Explanation:
Jaitley had announced the merger of PSBs in Budget speech.
4. State run banks, led by SBI, decided to freeze lending to which state government in April this year?
A) Punjab
B) Madhya Pradesh
C) Uttar Pradesh

D) Rajasthan
E) West Bengal
Answer & Explanation
A) Punjab
Explanation:
The bankers unanimously decided that they will not lend to Punjab unless the issue of missing foodgrain is resolved.
5. Which of the following organizations recently attained a milestone of joining 1,000 banks with it?
A) State bank Association
B) Bank of International Settlements
C) Indian Banks Association
D) National Payments Corporation of India
E) New Development Bank
Answer & Explanation
D) National Payments Corporation of India
Explanation:
National Payments Corporation of India (NPCI), the domestic umbrella organisation for all retail payments system, have
attained a milestone as about 1,000 banks have joined its centralised network christened as National Automated
Clearing House (NACH) system that helps processing bulk payments.
6. Which of the following Non-Banking Financial Company is been acquired by Disha Microfin, a microfinance
company?
A) Shree Global
B) Shriram Transport Finance
C) Future Financial Services
D) Centrum Finance
E) JM Financial
Answer & Explanation
C) Future Financial Services
Explanation:
Disha Microfin, which has received RBIs approval to run a small finance bank, announced that it will acquire nonbanking financial entity Future Financial Services.

Ahmedabad-based Disha Microfin provides microfinance products and services to rural, semi urban and urban women
on a commercially sustainable basis.
7. Industry body Internet and Mobile Association of India (IAMAI) has appointed whom as IAMAI payments banks
group chairman?
A) Pradeep Bhide
B) Suresh Sethi
C) Aditya Birla
D) Vijay Shekhar Sharma
E) Dilip Shanghvi
Answer & Explanation
D) Vijay Shekhar Sharma
Explanation:
Vijay Shekhar Sharma is the founder of Paytm. Vodafone India business head (M-Pesa) Suresh Sethi, will be the vicechairman of the group.
Up to now, 6 of the 10 entities who have been granted approval for payments bank in the country have joined IAMAI.
8. Idea Mobile Commerce has proposed its amalgamation which of the following entities?
A) Fino PayTech Ltd
B) Airtel M Commerce Services
C) Department of Posts
D) Vodafone m-pesa
E) Aditya Birla Idea Payments Bank Limited
Answer & Explanation
E) Aditya Birla Idea Payments Bank Limited
Explanation:
Aditya Birla Idea Payments Bank Limited is one of the 11 entities which were given approval by RBI to start Payment
Bank.
The board of Idea Mobile Commerce Services has approved its proposed amalgamation with Aditya Birla Idea
Payments Bank Limited, which will seek licence from the RBI in due course.
9. Tata Capital has tied up with which small business finance company to grow their business in small and middle
enterprises?
A) JM Financial Mutual Fund
B) Dhiman Small Saving Agent

C) AuFin
D) Biz2Credit
E) Share Microfin Limited
Answer & Explanation
D) Biz2Credit
Explanation:
Through this tie-up, Tata Capital will utilize the acquisition channels on Biz2Credits small business lending marketplace
in India, thereby making finance available to thousands of small and mid-sized companies in the country
10. In partnership with which of the following, Paytm has decided to set up a Payments Bank in the country?
A) Tech Mahindra
B) Wipro
C) IBM
D) Infosys
E) TCS
Answer & Explanation
B) Wipro
Explanation:
11entities were granted in-principle approvals in August 2015 to receive the formal licence from the central bank.
The in-principle approval was valid for 18 months, during that time RBI had asked applicants to comply with the
licensing norms. Most of the players who received the payments licences are yet to apply for the final licences.
Airtel has received the final license.
1.
Name the mobile app started by SBI to stop the debit card details whereby the customer can activate or
deactivate its debit card by just sending an SMS?
A) SBI Debit
B) SBI SMS
C) SBI Quick
D) SBI Flip
E) SBI Deact
Answer & Explanation

C) SBI Quick
Explanation:
SBI Quick, a mobile APP, provides a range of services and works on the condition that the SMS/missed call should
come from the mobile number registered with the bank.
2. In which of the public sector bank, government decided to take a move to lower its stake below 51%?
A) IDBI Bank
B) Bhartiya Mahila Bank
C) Vijaya Bank
D) EXIM Bank
E) OBC Bank
Answer & Explanation
A) IDBI Bank
Explanation:
Centre planned to privatize IDBI Bank, by reducing governments stake from 76.5 per cent to less than 51 per cent in
Nov 2015
3. According to a report, India replaced China as top destination for foreign direct investment in 2015 by attracting
how much worth of FDI projects?
A) $57 billion
B) $68 billion
C) $53 billion
D) $63 billion
E) $50 billion
Answer & Explanation
D) $63 billion
Explanation:
In 2015, India was for the first time the leading country in the world for FDI, overtaking the US (which had $59.6 billion of
greenfield FDI) and China ($56.6 billion)
4. Which insurance company joined hands with 10 cooperative banks in Maharashtra to grow its rural business?
A) Edelweiss Tokio Life Insurance Co. Ltd
B) Future Generali India Insurance Company
C) IDBI Federal Life Insurance Company Ltd

D) Tata AIA Life Insurance Company Limited


E) AEGON Life Insurance Company Limited
Answer & Explanation
B) Future Generali India Insurance Company
Explanation:
The insurer, a joint venture between retail giant Future Group and Italys Generali, has tied up with banks such as
Warana Sahakari Bank, Sangali District Central Cooperative Bank, Kolhapur District Central Cooperative Bank
operating in the Kolhapur and Sangli districts.
5. Which state owned bank has become the top mobiliser under Gold Monetisation Scheme, launched by Modi
government?
A) Bank of Baroda
B) State Bank of India
C) Punjab National Bank
D) Central Bank of India
E) Bank of India
Answer & Explanation
C) Punjab National Bank
Explanation:
The bank has mobilised 1,311 kg of gold since the launch of the scheme in November 2015.
The bank has mobilised substantial gold deposit under Short Gold Bank Term Deposit (STGBD) for three years from
one of the leading trusts of India Tirumula Tirupati Devasthanam, Tirpuati (TTD).
6. Which life insurance company joined hands with Indiabulls Housing Finance for corporate agency tie up?
A) Birla Sun Life Insurance
B) SBI Life Insurance
C) ICICI Prudential Life Insurance
D) Aviva India
E) HDFC Life
Answer & Explanation
E) HDFC Life
Explanation:
As part of the tie up Indiabulls Housing Finance will distribute HDFC life retail insurance products to its customers.

7. Which of the following is the Indias second largest wilful defaulter after Vijay Mallyas Kingfisher Airlines?
A) Zoom Developers Pvt Ltd
B) Winsome Group
C) Deccan Chronicle Holdings Ltd
D) Beta Naphthol
E) Raza Textiles Limited
Answer & Explanation
B) Winsome Group
Explanation:
Winsome Group, largest defaulter after Vijay Mallyas KFA has paid a fraction of loan back to lenders recently.
8. Name the countrys first small finance bank which started its operations recently?
A) Capital Local Area Bank
B) Disha Microfin Private Limited
C) Au Financiers (India) Limited
D) Ujjivan Financial Services
E) Utkarsh Micro Finance
Answer & Explanation
A) Capital Local Area Bank
Explanation:
Capital Local Area Bank launched the countrys first small finance bank in April 2016, seven months after the Reserve
Bank of India gave its in-principle approval for this new type of banks.
Ten entities were given in-principle approval for setting up small finance bank.
9. In which of the following financial institution, did MUDRA Bank invested Rs 50 crore in securitization deal?
A) Aadarsha Welfare Society
B) Annapurna Financial Services
C) Janalakshmi Financial Services
D) SKS Microfinance
E) Share Microfin Limited
Answer & Explanation
C) Janalakshmi Financial Services
Explanation:

This marks MUDRAs first-ever participation in a capital market deal as the MSME (micro, small and medium
enterprises)
MUDRA Bank has been the outcome of governments initiative to increase lending towards small businesses.
Janalakshmi is a financial institution servicing the microfinance needs of Urban India, with a market-oriented focus.
10. Vijay Mallya led Kingfisher Airlines owes around Rs.7,000 crore to a consortium of _____ state-owned financial
lenders.
A) 10
B) 16
C) 15
D) 17
E) 12
Answer & Explanation
D) 17
Explanation:
A consortium of 17-state-owned financial lenders led by Indias largest lender State Bank of India was formed to recover
the money from the airline company.
1. India claims a loan of $250 million from the BRICSs New Development Bank to which bank for a renewable
Energy project?
A) State Bank of India
B) Canara Bank
C) Reserve Bank of India
D) Indian Bank
E) Punjab National Bank
Answer & Explanation
B) Canara Bank
Explanation:
The New Development Bank, the latest multilateral funding institution in the financial world, has sanctioned a $250million loan for India to fund its ambitious scheme on new and renewable energy.
President of BRICS NDB Indian banker K.V. Kamath
2. Where is the Japan helpdesk opened by SBI in India?
A) Mumbai
B) Chennai

C) New Delhi
D) Bengaluru
E) Gandhinagar
Answer & Explanation
C) New Delhi
Explanation:
This SBI Japan Desk will serve as an one-point comprehensive and reliable information support source for India-bound
investments of Japanese companies.
3. The Income Tax Department has started using an electronic smart platform called ITBA-PAN to check the
duplication of PAN cards. What is ITBA?
A) Income Tax Building Application
B) Income Tax Business Authority
C) Income Tax Business Application
D) Income Tax Building Alliance
E) None of these
Answer & Explanation
C) Income Tax Business Application
Explanation:
ITBA-PAN will help in detecting if the person who came for applying for PAN Card is already having another PAN Card
number.
4. RBL Bank which became the first private sector bank to launch a dedicated branch for startups in India
launched the branch in
A) Hyderabad
B) Mumbai
C) Bengaluru
D) Chennai
E) New Delhi
Answer & Explanation
C) Bengaluru
Explanation:
The name of this branch is India start-up Club. It is a part of central govt.s Start up Stand Up mission.

5. Which Indian bank is the one which got one of the four banking license from the Myanmar Govt. to operate its
branch there?
A) Bank of Baroda
B) State Bank of India
C) Punjab National Bank
D) Central Bank of India
E) Bank of India
Answer & Explanation
B) State Bank of India
Explanation:
Bank for Investment and Development of Vietnam, State Bank of India, Taiwans Sun Commercial Bank and South
Koreas Shinhan Bank were granted preliminary license.
The approval gives the banks 12 months to demonstrate they can fulfill business plans laid out in their application to
Myanmars government before they will be granted permanent licenses.
6. Which countrys bank is not among those which got banking license to set up its branch in Myanmar?
A) Taiwan
B) South Korea
C) Vietnam
D) India
E) Tanzania
Answer & Explanation
E) Tanzania
Explanation:
Bank for Investment and Development of Vietnam, State Bank of India, Taiwans Sun Commercial Bank and South
Koreas Shinhan Bank were granted preliminary license.
The approval gives the banks 12 months to demonstrate they can fulfill business plans laid out in their application to
Myanmars government before they will be granted permanent licenses.
7. Recently National Payments Corp. of India Ltd. launched a platform for the transfer of money instantly as a text
message. The platform is called
A) Unified Process Interface
B) Under One Platform
C) One Payment App

D) Unified Payments Interface


E) One payment Solution
Answer & Explanation
D) Unified Payments Interface
Explanation:
NPCI has launched unified payments interface (UPI) project, which will allow customers to transfer money and make
payments almost as easily as they send a text message.
Multiple bank accounts can be linked to a single mobile banking application and money can be both received and
requested through the same interface.
8. ICICI bank has launched a Proximity Payment Solution, Tap n Pay in collaboration with
A) Infosys
B) TCS
C) Wipro
D) Tech Mahindra
E) Accenture
Answer & Explanation
D) Tech Mahindra
Explanation:
ICICI Bank has launched Proximity Payment Solution, a simple Tap and Pay experience using NFC (Near Field
Communication) enabled tag. It can be used for merchant payments by merely tapping a NFC-enabled mobile phone or
a tag on the counter.
ICICI Bank customers can also transfer money to the Tap-n-Pay account through an SMS
9. In partnership with which bank, Airtel E Commerce received a final license to set up a Payments Bank in the
country?
A) OBC Bank
B) Vijaya Bank
C) Yes Bank
D) IndusInd Bank
E) Kotak Mahindra Bank
Answer & Explanation

E) Kotak Mahindra
Explanation:
Airtel has became the first among the 11which were granted in-principle approvals in August 2015 to receive the formal
licence from the central bank.
The in-principle approval was valid for 18 months, during that time RBI had asked applicants to comply with the
licensing norms. Most of the players who received the payments licences are yet to apply for the final licences.
10. Which of the following organization is not a part of the group which decided to jointly work on tax related
issues and develop new policies to stop tax base erosion and evasion?
A) Organization for Economic Cooperation and Development
B) World Bank
C) International Monetary Fund
D) Bank of International Settlements
E) United Nations
Answer & Explanation
D) Bank of International Settlements
Explanation:
The mentioned initiative has been taken after the Panama Papers leak case.
1. By how many basis points did RBI cut the repo rate on April 5, 2016?
A) 25
B) 10
C) 50
D) 0.25
E) 50
Answer & Explanation
A) 25
Explanation:
Repo rate changed from 6.75% to 6.50% on April 5, 2016.
2. Which is the first organization which got final approval from RBI to start Payments Bank?
A) Tech Mahindra
B) Department of Posts
C) Airtel M-Commerce

D) Vodafone M-Pesa
E) Paytm
Answer & Explanation
C) Airtel M Commerce
Explanation:
Airtel has became the first among the 11which were granted in-principle approvals in August 2015 to receive the formal
licence from the central bank.
The in-principle approval was valid for 18 months, during that time RBI had asked applicants to comply with the
licensing norms. Most of the players who received the payments licences are yet to apply for the final licences.
3. Recently which bank launched countrys first Aadhar based ATM?
A) Yes Bank
B) DCB Bank
C) ICICI Bank
D) RBL Bank
E) Kotak Mahindra Bank
Answer & Explanation
B) DCB Bank
Explanation:
The ATM will allow to transact using biometric details only. So its a cardless and pin less ATM.
The user can key-in the 12-digit Aadhaar number or swipe the card at an automated teller machine (ATM) to start a
transaction, but at the stage of confirming the identity, it requires biometric details rather than the PIN.
4. Recently RBI signed MOU with which bank for information exchange on banking supervision?
A) Central Bank of Brazil
B) Peoples bank of China
C) Bank of Bangladesh
D) Bank of Israel
E) None of these
Answer & Explanation
D) Bank of Israel
Explanation:

With this, the RBI has signed 32 such MoUs, one Letter for Supervisory Co-operation and one Statement of Cooperation
5. According to World Bank which country remained the Worlds largest remittance recipient in 2015?
A) Jordan
B) Japan
C) China
D) India
E) Bangladesh
Answer & Explanation
D) India
Explanation:
About 69 billion US dollars in 2015 for various projects.
Other large remittance recipients in 2015 were China, with USD 64 billion, the Philippines (USD 28 billion), Mexico (USD
25 billion) and Nigeria (USD 21 billion).
6. Which is the first private sector bank to open its branch for startups as a part of centres Start Up India, Stand
Up India mission?
A) Axix Bank
B) Laxmi Vilas Bank
C) RBL Bank
D) ICICI Bank
E) Yes Bank
Answer & Explanation
C) RBL Bank
Explanation:
The dedicated branch will assist entrepreneurs in setting up new companies and offer banking services like foreign
exchange, remittances and cash management.
The Branch will also provide a range of value added services including registration, legal and tax formalities through its
affiliates and partners.
* SBI was the first one to launch such startup InCube
7. The BRICS New Development Bank approved its first credit of loans to India in the field of
A) Housing Projects
B) Renewable Energy

C) Rural Inclusive Growth Project


D) Solar Power Generation
E) Urban Water Supply Project
Answer & Explanation
B) Renewable Energy
Explanation:
BRICS New Development Bank (NDB) has offered $250m in loans to the Canara Bank in India to fund the development
of renewable energy
8. SBI launched SBI e Smart SME to offer E-commerce loan in partnership with
A) Flipkart
B) Amazon India
C) Snapdeal
D) Myntra
E) Shopclues
Answer & Explanation
C) Snapdeal
Explanation:
With this development, sellers can apply for the loan online on the e-commerce platform and get instant sanctioning of
the loan.
9. Recently which countrys helpdesk is being opened by SBI for the countrys investments in India and vice
versa?
A) USA
B) Nepal
C) China
D) Japan
E) Myanmar
Answer & Explanation
D) Japan
Explanation:
This SBI Japan Desk will serve as an one-point comprehensive and reliable information support source for India-bound
investments of Japanese companies.

10. Which of the country is not a part of getting a package of loans of 811 million dollars from BRICS New
Development Bank?
A) Brazil
B) Russia
C) India
D) China
E) South Africa
Answer & Explanation
B) Russia
Explanation:
The bank has approved four green renewable energy projects from India, China, Brazil and South Africa entailing Bank
financing of $811 million.