Turbo Series – September

Preface
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Turbo Series – September

Contents
(September – Part 2)

Multiple Choice Questions based on the following:

1. Pib
2. General awareness
3. Economics and social Issues
4. Financial Awareness
5. National reports
6. International reports
7. State Govt. Schemes
8. Central Govt. Schemes
9. Core Finance
10. Core Economics
11. RBI Notifications
12. SEBI Notifications
13. Bonus MCQ
14. Essay Extras

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Turbo Series – September

MCQs - Phase 1 & Phase 2

1. "To address regional disparities in the flow of priority sector credit at the district level, it has been
decided to rank districts on the basis of per capita credit flow to priority sector and build an incentive
framework for districts with comparatively lower flow of credit and a dis-incentive framework for
districts with ca comparatively higher flow of priority sector cred it. Accordingly, from FY ___A ____
onwards, a higher weight __B__ would be assigned to the incremental priority sector credit in the
identified districts where the credit flow is comparatively lower per capita PSL less than___ C __and a
lower weight ___D___would be assigned for incremental priority sector credit in the identified
districts where the credit flow is comparatively higher (per capita PSL greater than ₹25,000)." RBI ha s
given the list of different categories of districts.

Based on the above paragraph fill in the blanks.

A. A-2021-22, B-120%, C-6000 Rs, D-90%

B. A-2021-22, B-125%, C-6000 Rs, D-90%
C. A-2022-23, B-125%, C-6500 Rs, D-90%
D. A-2019-20, B-125%, C-6000 Rs, D-90%
E. A-2021-22, B-120%, C-5000 Rs, D-80%

2. As per, 15th finance commission what should be the public debt-to-GDP ratio by the The 2022-23
year for Centre and States respectively?

A. 40% and 60%

B. 45% and 55%
C. 55% and 45%
D. 60% and 40%
E. 65% and 35%

3. Which of the following shapes shows recovery in which the economy quickly recoups lost ground
and gets back to the normal growth trend-line?

A. W shape
B. L shape
C. V shape
D. U shape
E. None of the above

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Turbo Series – September

4. Under Bharat-Net program, how many villages will get optical fibre connectivity in 1000 days?

A. 600000
B. 60000
C. 600
D. 6000000
E. 60

5. As per, Union Budget -2019-20 the outlay of Bharat-Net program?

A. 60 crore
B. 600 crore
C. 6000 crore
D. 60000 crore.
E. 500 crore

6. Which if the following is a special purpose vehicle, set up by govt. under DoT for management,
establishment and operation of Bharat-Net?

A. BSNL
B. BBNL
C. VSNL
D. MTNL
E. None of the above

7. As per Sebi new norms, what percentage of the front margin of the cash market has to pledge my
an investor with Sebi?

A. 30%
B. 40%
C. 20%
D. 50%
E. 60%

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8. Who sets up ‘Make in India' vertical?

A. BHEL
B. BEL
C. ONGC
D. SAIL
E. BHARAT FORGE

9. Which of the following economic shape show the stock market being healthy and millions of lost
their jobs?
A. V shape
B. W shape
C. L shape
D. U shape
E. None of the above

10. GST council is formed under which article of the constitution?

A. 279 B
B. 278 A
C. 279 A
D. It is not a constitutional body
E. 280 B

11. Who is the head of GST Council?

A. Revenue Secretary
B. Union Finance Minister
C. Prime Minister
D. Both A and B
E. None of the above

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12. As per PSL by RBI, banks can give loans up to how many crores for setting up schools, drinking
water and sanitation facilities?

A. 2 crore
B. 4 crore
C. 5 crore
D. 7 crore
E. 1 crore

13. As per PSL by RBI, loans of up to ______ crore to start-ups will be given?

A. 60 cr
B. 50 cr
C. 40 cr
D. 30 cr
E. 70 cr

14.As per PSL by RBI, limit doubled for the loans of health infrastructure up to ________crore and
for renewable energy up to _______crore respectively

A. 30 and 10
B. 20 and 10
C. 10 and 20
D. 10 and 30
E. 40 and 50

15. With a view to provide income support to farmers’ families across the country, to enable them to
take care of expenses related to agriculture and allied activities as well as domestic needs,
Government launched the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN). Which of the following
is not correct information?

A. An amount of Rs. 6000/- is transferred directly into the bank accounts of farmers’ families every
year
B. In this there are three 4-monthly installments of Rs. 2000/- each.
C. Farmers falling within the purview of exclusion criteria relating to higher income status are not
eligible to get the benefit.
D. Land owning farmers practicing animal husbandry and fisheries can not avail the benefit of this
scheme subject to the exclusion criteria of the scheme.

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Turbo Series – September

16. Which of the following is incorrect regarding RoDTEP scheme? (Hard Level)

A. There are certain taxes/duties/levies are outside GST, and are not refunded for exports, such
as, VAT on fuel used in transportation, Mandi tax, Duty on electricity used during
manufacturing etc. These would be covered for reimbursement under the RoDTEP Scheme.
B. The refunds under the RoDTEP scheme would be a step towards “zero-rating” of exports, along
with refunds such as Drawback and IGST.
C. In line with “Digital India”, refund under the Scheme, in the form of transferable duty
credit/electronic scrip will be issued to the exporters, which will be maintained in an electronic
ledger. The Scheme will be implemented with end to end digitization.
D. The rebate would be claimed as a percentage of the Freight On Board (FOB) value of exports.
E. A monitoring and audit mechanism, with an Information Technology based Central
Management System (CMS), would be put in to physically verify the records of the exporters

Despite recovering sharply from 34.2 in July to 41.8 in August, Indian services PMI continued to remain
in contraction zone for the sixth successive month, due to continued decline in business activity. Firms
reported job shedding for the sixth straight month. Manufacturing PMI touched 52 in August,
reversing a slide and being back in expansion territory, against 46 in July.

17. Which of the following companies publishes Purchasing Managers’ Index (PMI)?

A. National Stock Exchange of India Limited

B. BSE Institute Limited
C. Markit
D. HSBC Analytics

18. The score above 50 in PMI shows that-

A. Contraction in economic activities

B. Expansion in economic activities
C. Don’t show anything
D. Both A and B
E. Neither A or B

19. The score below 50 in PMI shows that-

A. Contraction in economic activities

B. Expansion in economic activities
C. Don’t show anything
D. Both A and B
E. Neither A or B

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20. Which of the following bank launches cardless ATM withdrawals?

A. ICICI Bank
B. RBL Bank
C. DBS Bank
D. HDFC Bank
E. None of the above

21. Pragati & Saksham scholarship have been launched by which state?

A. Jammu & Kashmir

B. Punjab
C. Uttar Pradesh
D. Haryana

22. RBI ceased Aditya Birla Idea Payments Bank to be a banking company as per which of the
following act?

A. RBI ACT 1934

B. BANKING REGULATION ACT 1949
C. RBI ACT 1949
D. BANKING REGULATION ACT 1934
E. COMPANIES ACT 2013

23. Which of the following bank introduces evaluation metrics for staff, plans VRS?
A. ICICI
B. HDFC
C. RBL
D. DENA
E. SBI

24. Who is the author of the book “Golden Girl”?

A. Mary Kom
B. Hima Das
C. P.T. Usha
D. None of these

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25. Who is the brand ambassador of Bharat Pay?

A. Virat Kohli
B. Shahrukh Khan
C. Salman Khan
D. Aamir Khan

26. Which are two types of market through which a person can invest in stocks?

A. Equity market/Cash market

B. Derivative market
C. Future and Options market
D. All of the above
E. None of the above

27. The Centre had assured states of GST compensation for any shortfall in tax collections till whic h
year?

A. 2021
B. 2022
C. 2023
D. 2024
E. 2020

28. According to NCLAT, any instrument cannot be 'financial debt' and provision ______ of IBC code
provides for initiation of CIRP by a financial creditor only.

A. Section 7
B. Section 8
C. Section 9
D. Section 10
E. None of the above

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29. ___________ of Japan has won the US Open 2020 women’s singles?

A. Maria Sharapova
B. Serena Williams
C. Victoria Azarenka
D. Naomi Osaka

30. Which of the following organization started initiative to nurture new businesses?

A. CII
B. FICCI
C. NASSCOM
D. IRDAI
E. None of the above

31. ________ has inaugurated the world’s first retail mobile store?

A. Vivo
B. Oppo
C. Apple
D. Samsung
E. Honor

32. Which of the following committee, set to submit its report on loan restructuring to the RBI?

A. Usha Thorat committee

B. KV Kamath committee
C. Urjit Patel committee
D. Bimal Jalan committee
E. Both A and B

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Turbo Series – September

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33. Name the organization which released the report titled, “Enhancing Nationally Determined
Contributions (NDCs) for Food Systems”.

A. United Nations Environment Programme (UNEP)

B. International Labour Organization (ILO)
C. United Nations Industrial Development Organization (UNIDO)
D. United Nations Development Programme (UNDP)
E. United Nations Educational, Scientific and Cultural Organization (UNESCO)

34. How many women and girls will be pushed towards extreme poverty in 2021 as per the report
released by United Nations (UN) Women and United Nations Development Programme (UNDP)?

A. 35 million
B. 47 million
C. 29 million
D. 56 million
E. 87 million

35. Under which section of Competition Act, 2002, Competition Commission of India approved
incremental acquisition of 6.51% shareholdings in ClariantAGunder by SABIC International Holdings
B.V -
A. Section 32(2)
B. Section 31(2)
C. Section 32(1)
D. Section 31(1)
E. Section 30(1)

36. Which of the following statement defines ‘Stagflation'?

A. A situation of slow economic growth and relatively high unemployment with rising inflation
B. A situation of slow economic growth and relatively high employment with rising inflation
C. A situation of slow economic growth and relatively low unemployment with rising inflation
D. A situation of slow economic growth and relatively high unemployment with rising disinflation
E. None of the above.

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Turbo Series – September

37. Which of the following banks moots for VRS scheme?

A. SBI
B. ICICI
C. HDFC
D. RBL
E. CBI

38. As per NCRB 2019 report, which of the following state is seen as the worst offender?
A. UP
B. MP
C. Bihar
D. Delhi
E. Haryana

39. As per RBI ACT 1934, in MPC what is the target of keeping CPI inflation and valid till which year in
India?
A. 2-6%, 31 March 2021
B. 2-4%, 31 March 2021
C. 2-6%, 31 March 2022
D. 2-4%, 31 March 2023
E. 4-2%, 31 March 2021

40. Recently RBI transferred 57,128 crores as a dividend to the central government as per ECF
committee. Under which section of RBI Act, 1934, RBI has an obligation to transfer the surplus to the
central government?
A. Section 47
B. Section 48
C. Section 53
D. Section 54
E. Section 49

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41. This year RBI decided to maintain the contingency risk buffer at what %?
A. 5.4 %
B. 5.3 %
C. 6.5 %
D. 6.0 %
E. None of the above

42. Who is the head ECF committee?

A. Urjit Patel
B. Bimal Jalan
C. Shakitkanta Das
D. C V Rangarajan
E. Raghuram Rajan

43. World Suicide Prevention Day is observed on ___________ every year. The objective of this day is
to create awareness about mental health and prevent suicides.

A. 8 September
B. 9 September
C. 10 September
D. 11 September

44. Which of the following countries has launched a campaign named “Asol Chini” in order to keep a
check on rumours and fake news on social media?

A. India
B. Myanmar
C. Bhutan
D. Bangladesh

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45. PM Modi is to launch _________________ to focus on sustainable development of fisheries in

India.

A. Pradhan Mantri Matsya Sampatti Yojana

B. Pradhan Mantri Matsya Sampatti Yojana
C. Pradhan Mantri Sagar Sampada Yojana
D. Pradhan Mantri Matsya Sampada Yojana

46. Which of the following countries has proposed a ban on Cow slaughter?

A. India
B. Sri Lanka
C. Bhutan
D. Nepal

47. Which country is going to mint coin in remembrance of Mahatma Gandhi?

A. South Africa
B. UK
C. USA
D. Germany

48. WE HUB has announced its partnership with which of the following to aid women entrepreneurs
in agri business?

A. NutriHub
B. AgriHub
C. EntreHub
D. MonHub

49. The total outlay for the Pradhan Mantri Matsya Sampada Yojana, launched by PM Modi is
Rs._________ crores?

A. 20,150
B. 20,050
C. 20,750
D. 20,450

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50. When was the first International Day to Protect Education from Attack observed in 2020?

A. September 10
B. September 12
C. September 13
D. September 11

51. The Qutub Minar was illuminated in Red & White mark the 40 th anniversary of the Solidarity
Movement in ___________.

A. Poland
B. Finland
C. Scotland
D. Germany

52. ________ (insurance company) has launched AI-based chatbot service named LiGo?

A. Max Life Insurance

B. HDFC Ergo
C. ICICI Prudential
D. LIC

53. Which technology giant has set an unprecedented goal to power its data centres and offices
solely with renewable energy?

A. Google
B. Amazon
C. Facebook
D. Microsoft

54. Which of the following state government announced the health scheme in which the government
will provide universal health insurance?

A. New Delhi
B. Uttarakhand
C. Sikkim
D. Jammu & Kashmir

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55. Which IT company has signed a definitive agreement to acquire European consultancy fir m
GuideVision for up to EURO 30 million?

A. Infosys
B. Tata Consultancy Services
C. Wipro
D. HCL

56. Which state government will launch Mukhya Mantri Mahila Utkarsh Yojana to provide interest-
free loans to promote self-employment in the time of COVID 19 pandemic?

A. Haryana
B. Gujarat
C. Himachal Pradesh
D. Rajasthan

57. Foundation stone has been laid for which state’s first-ever Special Economic Zone at Sabroom,
the southernmost town of the state bordering Bangladesh?

A. Assam
B. Manipur
C. Tripura
D. Meghalaya

58. Which state government has signed MoU with SIDBI to develop MSME ecosystem?

A. Maharashtra
B. Assam
C. Rajathan
D. Uttarakhand

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59. The 10th Defence Technology & Trade Initiative Group meeting was held virtually by the Indian
and which country’s delegation?

A. USA
B. Japan
C. Russia
D. UAE

60. SBI general insurance company has signed corporate agency agreement with which bank?

A. ICICI Bank
B. AXIS Bank
C. HDFC Bank
D. Yes Bank

61. Polavaram Project is an irrigation project of which state?

A. Karnataka
B. Telangana
C. Andhra Pradesh
D. Tamil Nadu

62. Bangladesh has given special permission to traders to export which variety of fish to India?

A. Katla
B. Rohu
C. Surmani
D. Hilsa

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Bonus Question
Suhasini, a reputed college home science graduate, recently completed a cookery course. With a aim of
offering 'health food' at affordable rates, she decided to start her own company. She talked to her instructor
(mentor) about her idea and he encouraged her. They briefly listed the option to sell ready-made and 'ready-
to-make' vegetable shakes and sattu milk shakes after evaluating various options to start their business
venture. Then they considered all the short-listed options pros and cons.

Name the management role that is discussed above.

A. Planning
B. Staffing
C. Directing
D. Controlling
E. Organizing

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Essay Extras
What is EEE and E-waste?

EEE includes a wide range of products with circuity or electrical components with a power or battery supply (Step
Initiative 2014). Almost any household or business use products like basic kitchen appliances, toys, tools to music,
and ICT items, such as mobile phones, laptops, etc.

Besides everyday household and business use, EEE are becoming increasingly used in transport, health, security
systems, and generators of energy, such as photovoltaics. Traditional products, such as clothes and furniture, are
often equipped with electrical components, and consequently are increasingly contributing to the global e -waste
generated. More and more EEE is also employed in the expanding sector of the Internet of Things (IoT), such as
sensors or devices pertaining to the concept of the “smart home” or “smart cities”.

EEE becomes e-waste once it has been discarded by its owner as waste without the intent of reuse (Step Initiative
2014). Each product has different material content, is disposed of and recycled in different ways, and is unequally
harmful to the environment and human health if not managed in an environmentally sound manner.

In September 2015, the United Nations and all member states adopted the ambitious 2030 Agenda for Sustainable
Development and identified 17 Sustainable Development Goals (SDGs) and 169 targets for ending poverty,
protecting the planet, and ensuring prosperity for all over a 15-year span. Increasing levels of e-waste, improper
and unsafe treatment, and disposal through incineration or in landfills pose significant challenges to the
environment, human health, and to the achievement of the SGDs.

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Progress towards attaining the SDGs and their 169 targets are measured by indicators and official statistics.
Several targets and indicators are defined or are currently in the process of being measured as part of monitoring
progress. Per target, a custodian agency, or agencies, have been defined to guide the process.

E-waste management closely relates to many SDGs, such as SDG 8 on decent work and economic growth, SDG 3
on good health and well-being, SDG 6 on clean waste and sanitation, and SDG 14 on life below water. In particular,
given the high raw material demand for the production of EEE, e-waste also closely relates to the SDG indicators
on the material footprint (SDGs 8.4.1 and 12.1.1) and the SDGs on the domestic material consumption (SDGs 8.4.2
and 12.2.2). Relatively general indicators are being used to measure progress towards these SDGs. By contrast,
for e-waste, a more specific sub-indicator has been recognized for monitoring growth in the waste stream, which
is of particular concern due to both its potential hazardousness and its high residual value. E-waste has been
officially included in the work plan for the 12.5.1 SDG indicator and in the documentation around the indicator.
The importance of considering e-waste is discussed further in SDG indicator 12.4.2 on hazardous waste.

ANSWER KEY

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Turbo Series – September

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Answer Key
1B 36 A
2D 37 A
3C 38 B
4A 39 A
5C 40 A
6B 41 E (5.5%)
7C 42 B
8A 43 C
9 E (K shape) 44 D
10 C 45 D
11 B 46 B
12 C 47 B
13 B 48 A
14 D 49 B
15 D 50 D
16 E Risk Management System 51 A
17 C 52 C
18 B 53 A
19 A 54 D
20 B 55 A
21 A 56 B
22 B 57 C
23 E 58 C
24 C 59 A
25 C 60 A
26 D 61 C
27 B 62 D
28 A
29 D
30 A
31 C
32 B BONUS
33 A A
34 B
35 D

Bonus : Ans A

Planning involves decision-making: Planning involves simply applying critical reasoning to select the best option
among the numerous alternatives available to achieve the desired goals Effectively and Efficiently.

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