Banking & Economy Question PDF 2018 (April To June) - June Updated by AffairsCloud PDF

Banking & Economy
Awareness Questions 2018
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Due to our recent observation, more number of questions

have been raised from current banking and economic news
in General Awarness section.Here we have provided all
recent banking and economy news of April 2018 to June
2018 to break your all competitive exams with your good
mark.
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Banking & Economy Q&A PDF 2018
Banking Awareness Q&A 2018 for Competitive Exams
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Table of Contents
Banking/Economy Awareness Questions - April 2018 ..................................................................................... 3
Banking/Economy Awareness Questions - May 2018 .................................................................................... 28
Banking/Economy Awareness Questions - June 2018 .................................................................................... 42
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Banking/Economy Awareness Questions - April 2018

On 31st March 2018, Allahabad Bank announced that, it has reduced the base rate and benchmark
prime lending rate (BPLR) by how many basis points each?
Answer : 45
Explanation:
On 31st March 2018, Allahabad Bank announced that, it has reduced the base rate and benchmark prime
lending rate (BPLR) by 45 basis points each. The Asset Liability Management Committee (ALCO) of Allahabad
bank decided to decrease base rate and BPLR (benchmark prime lending rate) by 45 basis points. Allahabad
Bank has reduced base rate to 9.15 per cent from 9.60 per cent. BPLR has been reduced to 13.40 per cent from
13.85 per cent. These revised rates will be effective from 2nd April 2018. This move will reduce EMIs for its
borrowers.
On 28th March 2018, a record amount of Rs 71, 633.45 crore was digitally transacted through the PFMS
portal. What does PFMS stand for?
Answer : Public Financial Management System
Explanation:
On 28th March 2018, a record amount of Rs 71, 633.45 crore was digitally transacted through the Public
Financial Management System (PFMS) portal. The total number of transactions through the PFMS portal was
98,19,026 on 28th March 2018. This has created a record in number of digital transactions processed in a single
day. PFMS is implemented by the Controller General of Accounts, Ministry of Finance. It acts as a platform for
management of funds through tracking of funds and real time reporting of expenditure and receipts through
treasury and bank interface. It is used by line ministries and departments to monitor the utilisation of funds
offered to various implementing agencies and state governments. It is also used for Direct Benefit Transfer
(DBT) payments under MGNREGA (Mahatma Gandhi National Rural Employment Guarantee Act) and other
notified schemes of the government.
Indian Army signed a MoU with which bank regarding the Defence Salary Package on April 3, 2018?
Answer : HDFC Bank
Explanation:
On April 3, 2018, Indian Army and HDFC Bank signed a Memorandum of Understanding (MoU) on the Defence
Salary Package. The first MoU between HDFC Bank and the Indian Army for Defence Salary Package was signed
in 2011 and was renewed in March 2015. The current MoU is tailor made to suit the requirements of serving
soldiers, pensioners and families. As per the terms of the current MoU, in addition to other benefits, the Army
personnel having accounts in HDFC Bank will get free personal accident death cover and free permanent
disability cover of Rs 30 lakhs, free educational cover of upto Rs 1 Lakh per year for four years for education of
dependent child in case of accidental death of defence personnel and 100% processing fees waived for Car
Loans and Personal Loans.
During the month of March 2018, Central Board of Direct Taxes (CBDT) entered into 16 more APAs.
What does APA stand for?
Answer: Advance Pricing Agreements
Explanation:
During the month of March 2018, Central Board of Direct Taxes (CBDT) entered into 16 more Advance Pricing
Agreements (APAs), taking the total number of APAs to 219 so far. Out of the 16 APAs signed in March 2018, 14
are unilateral APAs and 2 are bilateral APAs with US and pertain to sectors like telecom, IT, automobile,
pharmaceutical, beverage, banking and insurance. Out of all APAs entered into by the CBDT till date, 199 are
Unilateral APAs and 20 are Bilateral APAs. In financial year 2017-18, CBDT entered into 67 APAs so far, out of
which, 58 are Unilateral and 9 are Bilateral. APA provisions were introduced in the Income-tax Act, 1961 in
2012. Objective of APA scheme is to provide certainty to taxpayers in the domain of transfer pricing by
specifying the methods of pricing and thereby reducing litigation.
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Who has been appointed as the Chief Operating Officer (COO) of Rubique, an online marketplace for
loan, credit card and insurance?
Answer: Ajay Desai
Explanation:
On April 3, 2018, Rubique, an online marketplace for loan, credit card and insurance announced the
appointment of Ajay Desai as its Chief Operating Officer (COO). Ajay Desai has 20+ years experience in banking
sector. Until recently he was holding the position of Senior President and Chief Financial Inclusion Officer in
Yes Bank. Rubique has taken Ajay Desai onboard to leverage his exceptional expertise in Small and Medium
Enterprise (SME), financial exclusion and Financial Technology (Fintech). At Rubique, Ajay Desai will focus on
deployment of technology interventions/solutions to address the credit gap.
SBI Life Insurance Company Limited appointed _____ as its new MD and CEO on 3rd April 2018?
Answer : Sanjeev Nautiyal
Explanation:
On April 3, 2018, SBI Life Insurance Company Limited appointed Sanjeev Nautiyal as its new MD and CEO.
Nautiyal started his career with State Bank of India (SBI) in 1985 as a probationary officer. During the course of
this career with SBI, Nautiyal held various important roles and responsibilities in areas of credit, human
resources, and international banking. Immediately before being appointed as MD & CEO of SBI Life Insurance,
he was chief general manager at SBI’s Ahmedabad circle. Sanjeev Nautiyal replaces Arijit Basu as MD & CEO of
SBI Life Insurance. Arijit Basu will be taking over a key role in the State Bank of India Group.
Jio Payments Bank Limited has commenced operations as a payments bank with effect from April 3,
2018. Jio Payments Bank is a 70:30 joint venture between Reliance Industries and which bank?
Answer: State Bank of India (SBI)
Explanation:
Jio Payments Bank Limited has commenced operations as a payments bank with effect from April 3, 2018. Jio
Payments Bank is a 70:30 joint venture between Mukesh Ambani-led Reliance Industries and the State Bank of
India (SBI). H. Srikrishnan, who was earlier with HDFC Bank and Yes Bank, has been appointed as MD and CEO
of Jio Payments Bank. Payment Bank are special category banks, which have been approved by Reserve Bank of
India (RBI) to promote financial inclusion. It undertakes restricted banking activities. Currently it is permitted
to accept deposits up to Rs. 1 lakh and is not permitted to offer loans. In November 2016, Airtel Payment Bank
became the first entity to commence operations as Payments Bank. Paytm Payments Bank and Fino Payments
Bank commenced operations in 2017. India Post Payments Bank, which also got a license for a payment bank is
yet to start its full-fledged operations in a formal way.
On April 4, 2018, IndusInd Bank announced that it has launched a pilot solution to communicate with
its customers though which of the following social media platform?
Answer: WhatsApp
Explanation:
On April 4, 2018, IndusInd Bank announced that it has launched a pilot WhatsApp enterprise solution to
communicate with its customers. IndusInd Bank’s message service on WhatsApp is being rolled out to
customers in phases, wherein customers can save the official WhatsApp number of the bank and initiate
conversation. There will be a two-way communication with replies to customer messages seeking basic
banking services. The customers of IndusInd Bank will now be able to check balance, obtain mini statement,
check reward points as well as update of Aadhaar through WhatsApp.
Name the bank that has obtained Reserve Bank of India’s (RBI’s) approval to buy IL&FS Securities
Services Ltd. (ISSL), the securities services arm of IL&FS?
Answer: IndusInd Bank
Explanation:
IndusInd Bank has received Reserve Bank of India’s (RBI’s) approval to buy IL&FS Securities Services Ltd.
(ISSL), the securities services arm of IL&FS. In March 2017, IndusInd bank entered into an agreement with
Infrastructure Leasing and Financial Services (IL&FS) to acquire 100 per cent stake in ISSL. IL&FS is the
promoter shareholder of IL&FS Securities Services Ltd (ISSL). Incorporated in July 2006, ISSL is a capital
markets intermediary for professional clearing, depository and custodial services catering to both retail and
institutional clients including over 1000 brokers, Foreign Portfolio Investors (FPIs) and Foreign Institutional
Investors (FIIS). The deal value has yet not been disclosed.
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Name the online service provider that launched online income tax filing services for salaried
individuals recently?
Answer: IndiaFilings.com
Explanation:
IndiaFilings.com has launched online income tax filing services for salaried individuals. IndiaFilings’ online
income tax filing service will help individuals and businesses file their income tax return using their platform.
All income tax returns like ITR-1, ITR-2, ITR-3, ITR-4, ITR-5, ITR-6 and ITR-7 can be filed online using their
platform directly. In order to prevent errors made by users while filing tax returns, intelligence and in-built
algorithms have been incorporated in the platform. Apart from this self-serve platform, IndiaFilings also offers
assisted tax return filing services for all class of taxpayers beginning from Rs.488. The assisted tax return filing
service provides a dedicated tax advisor. The tax advisor will advise on tax savings, tax computation and tax
filing.
As per the First Bi-Monthly Monetary Policy Statement for financial year 2018-19 announced by RBI on
April 5, 2018, what is the current Repo Rate, Reverse Repo Rate and marginal standing facility (MSF)
rate?
Answer: 6.00%, 5.75%, 6.25%
Explanation:
On April 5, 2018, Reserve Bank of India (RBI) announced First Bi-Monthly Monetary Policy Statement for
financial year 2018-19. This time too, the Policy Repo Rate has been kept unchanged.
Post the First Bi-Monthly Monetary Policy Statement announcement, the policy rates and reserve ratios are as
follows:
Policy Repo Rate 6.00% Unchanged – since 2nd August 2017
Reverse Repo Rate 5.75% Unchanged – since 2nd August 2017
Marginal Standing Facility Rate 6.25% Unchanged – since 2nd August 2017
Bank Rate 6.25% Unchanged – since 2nd August 2017
Cash Reserve Ratio (CRR) 4.00% Unchanged – since 9th February 2013
Statutory Liquidity Ratio (SLR) 19.50% With Effect from 14th October 2017
On April 6, 2018, global financial messaging cooperative, SWIFT (Society for World Interbank Financial
Telecommunication System platform) announced that ____ Bank has become its first Indian client to go
live with the gpi (Global Payment Innovation) Tracker?
Answer : ICICI Bank
Explanation:
On April 6, 2018, global financial messaging cooperative, SWIFT (Society for World Interbank Financial
Telecommunication System platform) announced that ICICI Bank has become its first Indian client to go live
with an improved cross-border payments service. The improved cross-border payments service which is being
referred to is the gpi (Global Payment Innovation) Tracker, which has been extended to cover all payment
instructions sent across the SWIFT network. SWIFT’s gpi tracker enables real-time payments tracking across
correspondent banks and has a facility to track the payments instructions across the correspondent banks
globally. At a later stage, SWIFT is also planning to add another feature that has an ability to stop and recall
payment in case of a fraud or when a duplicate payment has been sent erroneously.
Which bank recently introduced Public Financial Management System (PFMS) and launched ‘Bharat QR’
facility?
Answer: .Indian Bank
Explanation:
Indian Bank has introduced Public Financial Management System (PFMS) and has launched ‘Bharat QR’ facility.
Indian Bank, Managing Director and CEO, Kishor Kharat launched these initiatives in Chennai. Indian Bank has
introduced public financial management system aimed to benefit government agencies for utilising payment
service. PFMS will help government agencies for processing payments, tracking, monitoring, accounting,
reconciliation. The facility was being used for NREGA (National Rural Employment Guarantee Act) transactions
in Tamil Nadu and Andhra Pradesh, at present. ‘Bharat QR’ is a mobile payment collection scheme to accept
digital payments. Using this scheme, a merchant will receive Bharat QR sticker. This will enable customers to
make payments through the QR facility. Merchants should place the stickers at the shop. Customers can scan
that and pay through any digital transaction mode.
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Which bank has launched three ‘Internet of Things’ (IoT)-based customer service initiatives on a pilot
basis, as part of its ‘Customer First’ initiative, at one of its branch in Chennai, Tamil Nadu?
Answer: Indian Overseas Bank
Explanation:
As part of its ‘Customer First’ initiative, Indian Overseas Bank (IOB) has launched three ‘Internet of Things’
(IoT)-based customer service initiatives on a pilot basis at one of its branch in Chennai, Tamil Nadu. First
initiative is a sound pressure level meter placed at the branch service counter with a configured average
decibel level. Whenever the sound at this counter crosses the average threshold, the system sends an alert to
the branch manager as well as the designated official at the regional office, on a real-time basis. Second
initiative is to provided a tablet containing a web responsive application to customers visiting the branch.
Visiting customers can submit their feedback through this application which also has ‘Happy’ and ‘Unhappy’
emoticons. The feedback will be monitored by a team of dedicated customer service representatives. Third
initiative is a ‘Missed Call Feedback’ system wherein customers can give a missed call on the dedicated mobile
numbers in case of grievances.
On 6th April 2018, Government of India, Government of Maharashtra and the ____ Bank signed a US$ 420
million project to benefit Small and Marginal farmers in the Marathwada and Vidarbha regions of
Maharashtra?
Answer: World Bank
Explanation:
On 6th April 2018, Government of India, Government of Maharashtra and the World Bank signed a US$ 420
million project to benefit Small and Marginal farmers in the Marathwada and Vidarbha regions of Maharashtra.
This project will help to increase climate resilient practices in agriculture and to make farming a profitable
activity. This project will benefit more than 7 million people over an area of 3.0 million ha. It will cover 5,142
villages in the 15 most climate vulnerable districts of the region. The $420 million loan provided by the
International Bank for Reconstruction and Development (IBRD) has a grace period of 6 years. Its maturity
period is 24 years. The Agreements for the Maharashtra Project for Climate Resilient Agriculture were signed
by Sameer Kumar Khare, Joint Secretary, Department of Economic Affairs, Ministry of Finance, on behalf of the
Indian government. Bijay Kumar, Additional Chief Secretary, Agriculture Department signed on behalf of
Maharashtra government. Junaid Ahmad, Country Director, World Bank, India, signed on behalf of the World
Bank. This project will be implemented in rural areas that are mainly dependent on rain-fed agriculture.
The Reserve Bank of India (RBI) has decided to use ____ instead of Gross Value Added (GVA) to measure
economic activity in India?
Answer: Gross Domestic Product (GDP)
Explanation:
The Reserve Bank of India (RBI) has decided to use Gross Domestic Product (GDP) instead of Gross Value
Added (GVA) to measure economic activity in India. Viral Acharya, deputy governor of RBI said that, this change
has been done to confirm with international practice and for ease of comparison. Worldwide, the performance
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of economies is measured in terms of GDP. Multilateral institutions, international analysts and investors also
follow this approach. GVA gives the picture of the state of economic activity from the producers’ side or the
supply side. GDP provides the picture from the consumers’ side or the demand side. The Central Statistical
Office has been employing GDP as the main tool to measure economic activity since January 2015.
On April 6, 2018, Reserve Bank of India (RBI), in consultation with the Central Government, hiked the
FPI investment limit in Central government securities (G-Sec). What does FPI stand for?
Answer: Foreign Portfolio Investors
Explanation:
On April 6, 2018, Reserve Bank of India (RBI), in consultation with the Central Government, hiked the foreign
portfolio investors (FPI) investment limit in Central government securities (G-Sec). The FPI investment limit in
G-Sec has been hiked from 5 per cent of outstanding stock now to 5.5 per cent in Financial Year 2018-19 and 6
per cent in Financial Year 2020. As per the current situation, 99.31 per cent of the upper FII investment limit in
G-Secs, amounting to Rs.191300 has already been utilised. As per National Securities Depository Limited
(NSDL) data, only Rs.1311 crore investment could be accommodated to contain total FPI investments in G-Sec
within 5 per cent limit. Athough the hike in limit is lesser than market expectations, it would dampen bond
yields in the immediate term.
Which Indian bank will be investing a total of Rs 80 billion in the 900 megawatt (MW) Arun III
hydropower project of Nepal?
Explanation:
India’s largest bank, State Bank of India (SBI) will be investing a total of Rs 80 billion in the 900 megawatt
(MW) Arun III hydropower project of Nepal. The contract for constructing this project has been awarded to
Sutlej Jal Vikas Nigam (SJVN) and SJVN has made an agreement with the SBI to acquire the investment as a loan.
Indian Government has already granted approval to SJVN to invest Rs. 92 billion in this project. This project is
targeted to be completed by September 2022. On account of investment, SJVN will take the charge for 25 years
excluding the time for the construction.
Name the bank that has launched ‘Add on Working Capital GST’, a special financing scheme to help the
state industry cope with the delay in reimbursement of Goods and Services Tax (GST) under special tax
relief?
Answer: Jammu & Kashmir (J&K) Bank
Explanation:
Jammu & Kashmir (J&K) Bank has launched ‘Add on Working Capital GST’, a special financing scheme to help
the state industry cope with the delay in reimbursement of Goods and Services Tax (GST) under special tax
relief. This scheme was launched by J&K Finance Minister Syed Altaf Bukhari in the presence of Minister for
Industry and Commerce Chander Parkash Ganga. By ensuring healthy cash flow, this scheme will provide relief
to industrial units in J&K that are facing stressed liquidity position due to Goods and Services Tax regime.
Under this scheme, revolving credit facility will be extended at most competitive rate of 9 per cent and that too
with minimum documentation.
On 11th April 2018, the Asian Development Bank (ADB) stated that the Indian economy would expand
by ___% in fiscal year (FY) 2018 and ___% in the next fiscal year?
Answer: 7.3, 7.6
Explanation:
On 11th April 2018, the Asian Development Bank (ADB) stated that the Indian economy would expand by 7.3 %
in fiscal year (FY) 2018 and 7.6 % in the next fiscal year. The Asian Development Bank (ADB) said that, this
growth will be facilitated by various growth-oriented policy measures. In ADB’s Asian Development Outlook
(ADO) 2018 report, it stated that the reduction in growth to 6.6 % in FY2017 was partially due to
demonetization. Also, issues related to Goods and Services Tax (GST) disturbed operations of small and
medium-sized enterprises (SMEs) and exporters. ADO stated that, in the upcoming months, growth will
improve with the support of various measures like improving farmers’ purchasing power, higher procurement
prices, agriculture market reforms, and investments in irrigation and logistics. It said that investment revival
would continue, but at a modest rate. Also, ADB projected inflation to increase up to 4.6 % in FY2018 and 5 %
percent in FY2019 supported by further strengthening of global commodity prices and domestic demand. It
said that improved growth in advanced economies will help exports to improve in a healthy rate. Also, imports
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are expected to increase due to higher commodity prices and increase in domestic demand. The current
account deficit would widen to 2.2 percent of GDP in FY2018 and 2.4 percent of GDP in FY2019. It also said
that, current account deficit is expected to be financed by capital flows.
How many public sector banks have been placed under the Reserve Bank of India (RBI)’s Prompt
Corrective Action (PCA) framework due to non-performing assets, recently?
Answer : 11
Explanation:
11 public sector banks have been placed under the Reserve Bank of India (RBI)’s Prompt Corrective Action
(PCA) framework due to non-performing assets. These banks have been placed under RBI’s PCA framework to
keep a check on NPAs. Generally, lending activities of banks under PCA are restricted. They are also restricted
from opening new branches, staff recruitment and increasing the size of their loan book. They are instructed to
disburse loans only to companies whose borrowing is above investment grades. The 11 public sector banks
under RBI’s PCA Framework are:
• Allahabad Bank
• United Bank of India
• Corporation Bank
• IDBI Bank
• UCO Bank
• Bank of India
• Central Bank of India
• Indian Overseas Bank
• Oriental Bank of Commerce
• Dena Bank
• Bank of Maharashtra
Five more banks are expected to be brought under RBI’s PCA framework. They are:
• Andhra Bank
• Punjab National Bank
• Canara Bank
• Union Bank
• Punjab & Sind Bank.
If more state-owned banks are placed under PCA, it is expected that credit availability for the MSME (Ministry
of Micro, Small & Medium Enterprises) sector will be affected. It is said that it will take a minimum of 6-9
months for these banks to show noticeable improvement in the major regulatory indicators, in order to move
out of PCA.
What rank has India secured out of 180 countries on 2018 Index of Economic Freedom published by the
Heritage Foundation, an American think-tank?
Answer: 130
Explanation:
India has ranked 130th out of 180 countries on 2018 Index of Economic Freedom published by the Heritage
Foundation, an American think-tank. Economic Freedom in the context of this index, refers to a free society,
wherein individuals are free to work, produce, consume and invest in any way they please and governments
allows free movement of labour, capital, and goods. Index of Economic Freedom is an annual index and ranking
which was first created in 1995. The economic freedom is measured by assessing the countries of on 12
quantitative and qualitative factors placed under four broad categories/pillars of economic freedom viz. Rule of
Law (property rights, government integrity, judicial effectiveness), Government Size (government spending, tax
burden, fiscal health), Regulatory Efficiency (business freedom, labour freedom, monetary freedom) Open
Markets (trade freedom, investment freedom, financial freedom). Data considered for 2018 Index of Economic
Freedom covers the second half of 2016 through the first half of 2017.
Highlights of 2018 Index of Economic Freedom:
India’s 130th rank on 2018 Index of Economic Freedom marks a jump of 13 spots as compared to 143rd rank in
2017. For 2018 edition, India’s economic freedom score was 54.5, registering an improvement of 1.9 points as
compared to previous year. The year-on-year improvement has been largely attributed to business freedom,
judicial effectiveness, government integrity and fiscal health. India ranked 30th among the 43 countries in the
Asia-Pacific region and its overall score was below the regional and world averages. Heritage Foundation has
outlined that India is perceived to be moving into an open-market economy. Despite of high economic growth,
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corruption, a restrictive and burdensome regulatory environment, underdeveloped infrastructure and poor
financial and budget management continue to undermine overall development. Among India’s prominent
neighbours, China ranked 110th while Pakistan ranked 131st. Hong Kong topped the index with Economic
Freedom Score of 90.2.
2018 Index of Economic Freedom – Top 10:
1 Hong Kong
2 Singapore
3 New Zealand
4 Switzerland
5 Australia
On 11th April 2018, NABARD (National Bank for Agriculture and Rural Development) announced that, it
has aimed to raise its long-term on-lending or refinance portfolio to ____ in the current fiscal year in a
move to improve rural economy?
Answer : Rs 80,000 crore
Explanation:
On 11th April 2018, NABARD (National Bank for Agriculture and Rural Development) announced that, it has
aimed to raise its long-term on-lending or refinance portfolio to nearly Rs 80,000 crore in the current fiscal
year in a move to improve rural economy. NABARD’s on-lending in 2017-18 was Rs 65,000 crore. NABARD
earned a surplus of Rs 2,951 crore for the fiscal year that ended in March 2018. It has planned to raise Rs
40,000 crore from the bond borrowing. Its borrowing was Rs 33,000 crore in 2017-18. It has been one of the
top three borrowers in the market. NABARD’s balance sheet grew 17 % to Rs 4.06 lakh crore in the fiscal year
that ended in March 2018, against Rs 3.48 lakh crore in FY17. Loans and advances increased 15 % to Rs 3.54
lakh crore in the period compared to Rs 3.08 lakh crore in the same period that ended in March 2017. Its long-
term refinance was Rs 1,22,688 crore, up 17 per cent in the fiscal 2018, compared to Rs 1,05,209 crore.
Reserve Bank of India (RBI) has imposed a penalty of ____ on IDBI Bank for non-compliance with the
outlined norms related to reporting of bad loans?
Answer: Rs. 3 crore
Explanation:
Reserve Bank of India (RBI) has imposed a penalty of Rs. 3 crore on IDBI Bank for non-compliance with the
outlined norms related to reporting of bad loans. RBI said that, the penalty was imposed on account of non-
compliance with the directions issued on Income Recognition and Asset Classification (IRAC) norms.
Notification regarding this stated that, this penalty has been imposed in exercise of powers vested in the RBI
under the provisions of Section 47A(1)(c) read with Section 46(4)(i) of the Banking Regulation Act, 1949,
taking into account failure of the bank to adhere to the aforesaid directions issued by the RBI. RBI said that, this
action is based on deficiencies in regulatory compliance, and not intended to affect validity of any transaction
or agreement entered into by the bank with its customers.
Asian Infrastructure Investment Bank (AIIB) has approved USD $ 140-Million loan to improve the rural
road connectivity and management for residents in which state of India?
Answer: Madhya Pradesh
Explanation:
The Board of Directors of the Asian Infrastructure Investment Bank (AIIB) have approved USD $ 140-Million
loan to improve the rural road connectivity and management for residents in Madhya Pradesh, India, at a
Meeting held recently in Beijing, China. Nearly, 1.5 Million rural people of Madhya Pradesh will be benefited
from improved livelihoods, education and mobility offered through this project. This project is co-financed by
the World Bank. It aims to improve the rural road connectivity and management for residents of nearly 5,640
villages. Activities planned under this project are:
• Upgrading the gravel surfaced roads to a sealed surface standard
• Creating additional linkages to villages with potential for high growth
• Improving institutional capacity through implementing/upgrading a rural road asset management system
and strengthening design and research and quality assurance capacity of the implementation agency
• Developing road safety management capacity with road accident data management system and piloting a
comprehensive road safety program
• Supporting design, implementation and management
AIIB Director General of Investment Operations SupeeTeravaninthorn said that this Project will ensure
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sustainable and safe last-mile connectivity to small villages and enhance mobility of rural Madhya Pradesh. He
added that the project will improve economic development in Madhya Pradesh and enhance the livelihoods of
especially rural women and girls.
Name the person who has been re-appointed as MD & CEO of Bandhan Bank?
Answer: Chandra Shekhar Ghosh
Explanation:
Chandra Shekhar Ghosh has been re-appointed as managing director and CEO of Bandhan Bank for a three year
term from 10thJuly 2018. Chandra Shekhar Ghosh’s re-appointment is subject to regulatory clearances. It was
approved by Bandhan Bank board recently. Bandhan Bank was listed on 27 March 2018. Mr. Chandra Shekhar
Ghosh was appointed to this post in July 2015. Bandhan Bank had recently announced the resignation of its
part-time, non-executive chairman Ashoke Kumar Lahiri.
Former deputy governor at Reserve Bank of India (RBI) ____ has joined Bandhan Bank board?
Answer: Harun Rasid Khan
Explanation:
Former deputy governor at Reserve Bank of India (RBI), Harun Rasid Khan, has joined Bandhan Bank board.
Harun Rasid Khan joined the board of Bandhan Bank two weeks ago. He has replaced PK Saha in Bandhan Bank
board. He had headed RBI’s vision on payment system. He had handled financial market, foreign exchange,
financial inclusion, etc. in RBI. He served as deputy governor of RBI from 2011 to 2016.
Which bank has approved $55 million to expand the use of clean renewable energy in rural areas of
Bangladesh that do not have access to grid electricity?
Answer: World Bank
Explanation:
World Bank has approved $55 million to expand the use of clean renewable energy in rural areas of Bangladesh
that do not have access to grid electricity. $55 million has been approved as an additional financing to the
Second Rural Electrification and Renewable Energy Development (RERED II) Project. Renewable Energy
Development (RERED II) Project and additional financing will provide access to electricity and energy efficient
cooking stoves to about 10 million people living in villages, shoals and islands in Bangladesh. Funds procured
through additional financing will be utilised to install 1000 solar irrigation pumps, 30 solar mini-grids and
about 4 million improved cooking stoves in rural areas. 30 solar mini-grids will provide about 28000
connections to households and businesses, including small and medium-sized enterprises.
On April 12, 2018, Reserve Bank of India (RBI) issued a notification aimed at tightening reporting
norms for the LRS. Expand LRS?
Answer: Liberalised Remittance Scheme
Explanation:
On April 12, 2018, Reserve Bank of India (RBI) issued a notification aimed at tightening reporting norms for the
Liberalised Remittance Scheme (LRS). Under LRS, all resident Indian individuals, including minors, are allowed
to freely remit abroad, up to USD 250000 per financial year for any permissible current or capital account
transaction or a combination of both. LRS scheme was introduced on February 4, 2004. At that time the limit
was just USD 25000. However it was revised in a phased manner in line with prevailing macro and micro
economic conditions and now stands at USD 250000 per financial year. Individuals can avail foreign exchange
for this purposes within the limit of USD 250000 only, from Authorised Dealers/Banks. However, till now,
Authorised Dealers/Banks permitted LRS transactions solely on the declaration made by the remitter and thus
monitoring of adherence to the limit was confined to obtaining such a declaration without independent
verification. With a view to improve monitoring and also to ensure adherence to LRS limits, RBI has directed
Authorised Dealers (ADs)/Banks to put in place a daily reporting system listing out all transactions undertaken
by individuals under LRS. These reports will be accessible to all the other ADs.
According to the weekly data from the Reserve Bank of India (RBI), India’s foreign exchange reserves
touched a life-time high of ____ in the week to April 6, 2018?
Answer: $424.864 billion
Explanation:
According to the weekly data from the Reserve Bank of India (RBI), India’s foreign exchange reserves touched a
life-time high of $424.864 billion in the week to April 6, 2018. As per RBI data, on a week-on-week basis, forex
reserves increased by $503.6 million in the week to April 6, 2018. In the previous week, forex reserves rose by
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$1.828 billion to $ 424.366 billion. The latest surge in forex reserves came solely on the back of increase in
foreign currency assets. Foreign currency assets is a major component of the total forex reserves. For the week
to April 6, 2018, it rose by $657.7 million to $399.776 billion. For the reporting week, Gold reserves decreased
by $130.7 million to $21.484 billion while special drawing rights with the International Monetary Fund (IMF)
declined by $10 million to $ 1.534 billion.
On 13th April 2018, which bank launched new products like pre-approved credit card and UPI solution
to mark its 124th foundation day?
Answer: Punjab National Bank
Explanation:
On 13th April 2018, Punjab National Bank (PNB) launched new products like pre-approved credit card and UPI
solution to mark its 124th foundation day. PNB also announced its UPI partnership with WALNUT, an expense
management app, that has features like bill reminders, bill-split and instant paperless loans. PNB conducted
blood donation camps in 200 blood donation centres in 76 circle offices covering more than 6,500 branches in
all states and union territories. The camp was inaugurated at PNB head office in New Delhi by Sunil Mehta, MD
and CEO of PNB.
The government has raised the authorised capital of NABARD (National Bank for Agriculture and Rural
Development) by 6 times to ____, aimed to increase its lending to the rural economy?
Answer: Rs 300 billion
Explanation:
The government has raised the authorised capital of NABARD (National Bank for Agriculture and Rural
Development) by 6 times to Rs 300 billion, aimed to increase its lending to the rural economy, as a part of the
initiative to double farmers’ income by 2022. A notification regarding this was released by the Finance Ministry
on 10th April 2018. A bill in this regard was approved by Parliament at the start of this year. The increased
authorised capital will enable NABARD to perform the commitments it has undertaken, especially with respect
to Long Term Irrigation Fund and on-lending to cooperative banks. Also, it will help NABARD to expand its
business and activities, resulting in promotion of integrated rural development, prosperity of rural areas and
generation of more employment.
Which Indian company has recently signed an agreement to raise nearly Rs 3,250 crore as samurai
term loan from Japan-based banks?
Answer: Reliance Jio
Explanation:
Reliance Jio has signed an agreement to raise nearly Rs 3,250 crore as samurai term loan from Japan-based
banks. Reliance Jio Infocomm Limited said that, it had signed approximately JPY 53.5 billion samurai term loan
with 7 year bullet maturity. The facility is guaranteed by Reliance Industries Limited. It will be used for funding
Reliance Jio Infocomm Limited’s ongoing capital expenditure. With exchange rate of 60 paise per Japanese yen,
the loan value amounts to nearly Rs 3,248 crore. This deal is said to be the largest samurai loan (low interest
loans from Japanese investors) for an Asian corporate company. Reliance Jio Infocomm Limited said that, the
facility has been fully underwritten by Mizuho Bank, Ltd., MUFG Bank, Ltd. and Sumitomo Mitsui Banking
Corporation Singapore Branch. It added that, it will be launched into syndication soon.
As per World Bank’s bi-annual South Asia Economic Focus report released on April 15, 2018, Indian
economy has recovered from the adverse impacts of demonetisation and roll out of Goods and Services
Tax. Hence, Indian economy is projected to grow by ___ % in 2018 and ___ % in 2019?
Answer: 7.3, 7.5
Explanation:
As per World Bank’s bi-annual South Asia Economic Focus report released on April 15, 2018, Indian economy
has recovered from the adverse impacts of demonetisation (in November 2016) and roll out of Goods and
Services Tax (in July 2017). Owing to recovery from above stated events, Indian economy is projected to grow
by 7.3% in 2018 and 7.5% in 2019. Indian recovery will again make South Asia region, the world’s fastest
growing region. South Asian region as a whole is projected to grow at 6.9% in 2018 and 7.1% in 2019.
However, the report cautioned that despite growth, India was not creating enough jobs. As per the report, India
must create 8.1 million jobs a year to maintain its employment rate.
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Which bank has launched ‘Yes GST’, an OD (over draft) facility for Micro, Small and Medium Enterprises
(MSMEs)?
Answer: YES Bank
Explanation:
Yes Bank has launched ‘Yes GST’, an OD (over draft) facility for Micro, Small and Medium Enterprises (MSMEs).
’Yes GST’ enables MSME to avail OD up to Rs 1 crore, based on their annual turnover, backed by Goods and
Services Tax (GST) returns. This OD facility can be availed by an MSME against mortgage of residential or
commercial property. Thus the essential documents to be provided are GST returns and residential or
commercial property papers. Any additional assessment of balance sheet or bank statements will not be
required.
On 16th April 2018, data from Ministry of Commerce & Industry stated that, India’s annual Wholesale
Price Inflation (WPI) was at ____ % in March 2018, a nine-month low, due to a fall in price of vegetables
and other food and beverages?
Answer: 2.47
Explanation:
On 16th April 2018, data from Ministry of Commerce & Industry stated that, India’s annual Wholesale Price
Inflation (WPI) was at 2.47 % in March 2018, a nine-month low, due to a fall in price of vegetables and other
food and beverages. The notification said that, the official Wholesale Price Index (WPI) for ‘All Commodities’ for
March 2018 increased by 0.2 % to 116.0 (provisional) from 115.8 (provisional) for the previous month. The
annual rate of inflation, based on monthly WPI, was at 2.47 percent (provisional) for March 2018 (over March,
2017) as compared to 2.48 %(provisional) for the previous month and 5.11 percent during the corresponding
month of the previous year. The build up inflation rate in the financial year so far was 2.47 percent compared to
a build up rate of 5.11 percent in the corresponding period of the previous year. The index for ‘Food Articles’
group reduced by 0.4 percent to 137.2 from 137.8 for the previous month due to lower price of egg, gram, tea,
coffee, poultry chicken and condiments and spices, etc. But the price of ragi, jowar, peas, moong, betel leaves,
wheat, paddy and pork increased. The index for ‘Non-Food Articles’ group reduced by 0.3 % to 120.2 from
120.6 for the previous month due to lower price of guar seed, niger seed, floriculture, raw cotton, cottonseed,
mustard seed, among others. But the price of raw silk, mesta and hides, sunflower, soyabean, fodder, raw wool,
coir fibre and raw rubber increased. The index for ‘Minerals’ group reduced by 2% to 119.7 from 122.2 for the
previous month due to lower price of copper concentrate and phosphorite. But the price of iron ore, chromite,
manganese ore, limestone, zinc concentrate and lead concentrate increased. The index for ‘Crude Petroleum &
Natural Gas’ group reduced by 0.5 % to 80.2 from 80.6 for the previous month due to lower price of crude
petroleum.
What rank did Bandhan Bank secure in the list of most valuable companies in terms of market
capitalization (m-cap) in India, as per Bombay Stock Exchange (BSE) data, on 12th April 2018?
Answer: 50
Explanation:
Bandhan Bank has found a place in the list of the top-50 most valuable companies in terms of market
capitalization (m-cap) in India. Bandhan Bank reached 50th position in overall market capitalization ranking
with a market capitalization of Rs 640 billion on 12th April 2018, as per Bombay Stock Exchange (BSE) data.
Bandhan Bank has surpassed Dabur India, Britannia Industries, New India Assurance Company, Tech Mahindra
and Bharti Infrastructure in the last 10 trading sessions. Tata Consultancy Services Ltd is the most valuable
company in India. It is followed by Reliance Industries Ltd and HDFC Bank Ltd.
Government of India has decided to issue Sovereign Gold Bonds 2018-19 – Series-I. These bonds will be
issued by Reserve Bank India (RBI) on behalf of the Government of India. What is the issue price of
these bonds?
Answer: Rs. 3114 per gram
Explanation:
Government of India has decided to issue Sovereign Gold Bonds 2018-19 – Series-I. These bonds will be issued
by Reserve Bank India (RBI) on behalf of the Government of India.
Subscription Date: April 16, 2018 to April 20, 2018. Bond Certificate will be issued on May 4, 2018
Denomination: 1 gm multiples
Issue Price: Rs. 3114 per gram. The issue price is the simple average of closing price of gold of 999 purity
published by the India Bullion and Jewellers Association Limited for the last 3 business days of the week
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preceding the subscription period. Discount of Rs. 50 per gm for those who subscribe online and pay through
digital mode.
Tenure: 8 years
Interest Rate: 2.50% per annum, payable every 6 months.
Exit Option: From 5th year onwards, to be exercised on interest payment dates
Minimum Size: 1 gm
Maximum Limit: 4 KG for individual, 4 Kg for HUF and 20 Kg for trusts and similar entities per fiscal (April-
March) notified by the Government from time to time.
Sold By: Banks, Post Offices, Stock Holding Corporation of India (SHCIL), National Stock Exchange (NSE) and
Bombay Stock Exchange (BSE)
On 16th April 2018, a loan agreement worth USD 48 million for the “Meghalaya Community – Led
Landscapes Management Project (MCLLMP)” was signed between India and which bank?
Answer: World Bank
Explanation:
On 16th April 2018, a loan agreement worth USD 48 million for the “Meghalaya Community – Led Landscapes
Management Project (MCLLMP)” was signed by India and the World Bank, in New Delhi. The objective of this
project is to enhance community-led landscapes management in selected landscapes in Meghalaya. The project
has three components:
• strengthening knowledge and capacity for natural resource management
• community-led landscape planning and implementation
• project management and governance
It will help in managing the depleting natural resources like land, water sources, and forests by strengthening
the communities and traditional institutions. This will increase water for local communities and improve the
soil productivity, resulting in increased incomes and lesser poverty. The International Bank for Reconstruction
and Development (IBRD) loan agreement was signed by Sameer Kumar Khare, Joint Secretary (MI),
Department of Economic Affairs on behalf of India. Hisham A Abdo Kahin, Acting Country Director, World Bank
(India) signed it on behalf of the World Bank. Also, a project agreement was also signed by P. Sampath Kumar,
Commissioner and Secretary to the Government of Meghalaya and CEO, Meghalaya Basin Development
Authority (MBDA) and Hisham A Abdo Kahin, Acting Country Director, World Bank (India). The closing date for
the above project is 30th June 2023.
On April 17, 2018, which Indian Bank announced that it has on-boarded over 250 corporates on its
blockchain platform for domestic and international trade finance?
Answer: ICICI Bank
Explanation:
On April 17, 2018, India’s largest private sector bank, ICICI Bank announced that it has on-boarded over 250
corporates on its blockchain platform for domestic and international trade finance. In August 2016, ICICI Bank
became the first bank in India to successfully undertake pilot transactions on its blockchain platform for
international trade finance. Since then, more than 250 Indian corporate, including the leading ones are now
undertaking domestic/international trade finance transactions on this platform. ICICI Bank’s blockchain
platform digitises the paper-intensive international trade finance process as an electronic, distributed and
unalterable ledger, which is accessible to all the participating entities including banks. This is not just more
time and cost efficient but also a secure way of undertaking domestic and international trade transactions.
On April 17, 2018, Minister of State (Independent Charge) for Communications, Manoj Sinha launched
_____ App, which will help in collection of premium for Postal Life Insurance (PLI) and Rural Postal Life
Insurance (RPLI) policies at Branch Post Offices anywhere in India?
Answer: DARPAN-PLI
Explanation:
On April 17, 2018, Minister of State (Independent Charge) for Communications, Manoj Sinha launched
DARPAN-PLI App, which will help in collection of premium for Postal Life Insurance (PLI) and Rural Postal Life
Insurance (RPLI) policies at Branch Post Offices anywhere in India. In context of this news, DARPAN refers to
DIGITAL ADVANCEMENT OF RURAL POST OFFICE FOR A NEW INDIA (DARPAN) Project, a project launched by
Department of Posts as a part of its IT Modernisation plan, aimed at connecting all 1.29 lakh Rural Branch Post
Offices in the country, to enable them to do online Postal and Financial Transactions. The DARPAN-PLI App will
not only help in collection of premium for PLI and RPLI policies at Branch Post Offices, but will also enable
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indexing of maturity claims in respect of PLI and RPLI policies at Branch Post Office itself. This app is a part of
Department of Posts endeavour to go digital which will help in providing better after-sales service to customers
of PLI and RPLI, particularly to those living in rural areas of India.
India won how many elections to UN Economic and Social Council (ECOSOC) bodies, on 16th April 2018?
Answer: 4.6
Explanation:
On April 16, 2018, India won six elections to UN Economic and Social Council (ECOSOC) bodies. By winning
these elections, India won places on the executive boards of four UN bodies, three commissions and a
committee. In election for the Non-Governmental Organisations (NGO) Committee, within the Asia-Pacific
group, India got the highest number of votes (46). The NGO committee scrutinises the NGOs applying for
consultative status with ECOSOC. It is an important body as it has the power to recommend or block them. India
will serve a four-year term on this committee starting January 2019. Through another single election, India
made its way to the executive boards of the UN Development Programme (UNDP), the UN Population Fund
(UNFPA) and the UN Office for Project Services (UNOPS) for a three-year terms from January 2019.
On April 16, 2018, market capitalisation of Kotak Mahindra Bank, for the first time surpassed that of
_____?
Answer: State Bank of India
Explanation:
On April 16, 2018, market capitalisation of Kotak Mahindra Bank, for the first time surpassed that of State Bank
of India. Market value of a company’s outstanding shares is referred to as market capitalisation (m-cap). It is
calculated by multiplying the current market value of company’s share with total outstanding shares. At the end
of the trading day on April 16, 2018, Kotak Mahindra Bank’s market capitalisation rose to Rs 2.23 lakh crore
compared with SBI’s market cap of Rs 2.22 lakh crore. On account of this surge, Kotak Mahindra Bank has
become the second-most valuable bank in India after HDFC Bank. Among all Indian banks, HDFC Bank has the
highest market capitalisation of Rs 5.03 lakh crore.
National Bank for Agriculture and Rural Development (NABARD) has announced that it has extended
total credit support of Rs 14690 crore to which state during 2017-18?
Answer: Rajasthan
Explanation:
National Bank for Agriculture and Rural Development (NABARD) has announced that it has extended total
credit support of Rs 14690 crore to Rajasthan during 2017-18. Rajasthan has been one of the biggest
beneficiaries under the Rural Infrastructure Development Fund (RIDF) of NABARD. Under RIDF, NABARD
disbursed concessional loan of Rs 1851.29 crore to Rajasthan state government during 2017-18. Funds
sanctioned by NABARD were used for 10 irrigation projects, construction of 1614 roads and two rural drinking
water supply projects in the state.
On 17th April 2018, Communications and Railways Minister Manoj Sinha said that, the government
aims to empower ____ lakh post offices after integration with 650 Payments Banks to offer digital
services including financial inclusion?
Answer: 1.55 lakh
Explanation:
On 17th April 2018, Communications and Railways Minister Manoj Sinha said that, the government aims to
empower 1.55 lakh post offices after integration with 650 Payments Banks to offer digital services including
financial inclusion. Manoj Sinha has said that, in 5 to 6 months, 1.5 lakh postal offices will operate as Post
Payments Banks. He said that after pilot launch of India Post Payments Bank (IPPB) in Raipur and Ranchi,
Payments Banks will be started in the remaining 648 locations soon. The Payments Banks will offer direct
benefit transfer (DBT) to a large number of people. India Post Payments Bank (IPPB) launched its pilot services
in Raipur and Ranchi in January 2017. In 2015, the Reserve Bank of India (RBI) had approved Payments Banks
to 11 entities. It also allowed the Department of Posts to accept deposits up to Rs 1 lakh per individual or a
small business. He also launched Digital Advancement of Rural Post Office for a New India or Darpan program
with a budget of Rs 1,300 crore, under the IT modernisation initiative to enable digital transactions and online
postal services in 1.29 branch post offices in rural regions of India.
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As per latest World Economic Outlook, released by International Monetary Fund (IMF) on April 17,
2018, Indian economy is projected to grow ___% in the current fiscal i.e. FY 2018-19 and accelerate
further in FY 2019-20 to ___ %.
Answer: 7.4, 7.8
Explanation:
As per latest World Economic Outlook, released by International Monetary Fund (IMF) on April 17, 2018,
Indian economy is projected to grow 7.4% in the current fiscal i.e. FY 2018-19 and accelerate further in FY
2019-20 to 7.8%.The report has outlined that in the medium term, there will be a gradual increase in India’s
growth rate as structural reforms raise potential output and Indian will thus consolidate its position as the
world’s fastest-growing major economy. India’s growth in current and next fiscal will come on back of strong
private consumption as well as fading transitory effects of demonetisation (in November 2016) and roll out of
Goods and Services Tax (in July 2017). Consumer inflation is projected at 5% for the current as well as next
year while the current account deficit is seen at 2.3% of Gross Domestic Product (GDP) this fiscal and 2.1% next
fiscal. As per IMF, Chinese Economy will slow down from 6.9% in 2017 to 6.6% in 2018 and further to 6.4% in
2019 while Global growth is seen stable at 3.9% over the current and next calendar years.
On April 12, 2018, Confederation of Indian Industry (CII) stated that India’s gross domestic product
(GDP) is expected to grow at what percent during the 2018-19 financial year?
Answer: 7.3-7.7
Explanation:
On April 12, 2018, Confederation of Indian Industry (CII) stated that India’s gross domestic product (GDP) is
expected to grow at 7.3-7.7 percent during the 2018-19 financial year. The growth in 2018-19 will come on
back of strong demand in the rural economy, including agriculture and non-farm activities, as well as better
global growth climate. Strong demand in the rural economy will boost investment in industry, which in turn
will increase manufacturing activities. As per CII, agriculture sector is expected to grow at 2.5-3.5 percent,
industrial sector to grow at 7.2-7.5 percent and services sector to grow at 8.4-8.7 percent. Rising oil prices has
been identified as a macro challenge. However, improving industrial performance is expected to compensate
for the same.
As per Trust Research Advisory’s Brand Trust Report 2018, ____ is the most-trusted bank (among both
public and private sector banks) in India?
Explanation:
As per Trust Research Advisory’s Brand Trust Report 2018, State Bank of India (SBI) is the most-trusted bank
(among both public and private sector banks) in India. Among private sector banks, the list was topped by ICICI
Bank. However, Brand Trust Report 2018 is based on a survey that was carried out during November 2017 –
January 2018 period and did not take into account the recent reports of irregularities involving the ICICI Bank.
Although SBI has topped the Banking and Financial Services Institutions (BFSI) super-category, its overall
brand trust index ranking has dropped from 13th in 2017 to 21st this year. Interestingly, out of the 1000 most
trusted brands of India that have featured in Brand Trust Report 2018, 51 brands are from the BFSI as
compared to 23 brands in 2017.
Reserve Bank of India (RBI) has placed which bank under directions, owing to which, its customers will
not be allowed to withdraw more than Rs. 1000 per deposit account?
Answer: City Co-operative Bank
Explanation:
Reserve Bank of India (RBI) has placed Mumbai-based City Co-operative Bank under directions, owing to
which, its customers will not be allowed to withdraw more than Rs. 1000 per deposit account. In addition to
withdrawal restrictions, City Co-operative Bank would not be able to accept fresh deposits, disburse loans,
make any investment, or borrow funds without RBI approval. In context of this news, it is important to note
that City Co-operative Bank’s net non-performing assets stood at 8.84 per cent of advances. However, RBI has
clarified that issue of the directions should not be construed as cancellation of banking licence of City Co-
operative Bank and it will continue to undertake banking business with restrictions till its financial position
improves.
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Name the app that AU Small Finance Bank is planning to launch to improve its business through crowd-
sourcing, involving not only employees but also customers and non-customers?
Answer: Kamao
Explanation:
AU Small Finance Bank has decided to improve its business through crowd-sourcing, involving not only
employees but also customers and non-customers using the mobile app named ‘Kamao’ (earn). AU Small
Finance Bank has planned to encourage stakeholders to refer prospective customers, who want to open deposit
accounts or get loans, on the app and win rewards. The app is currently undergoing beta (field) testing. If an
employee, customer or non-customer give leads (prospective customer’s name, contact details, and banking
requirements) they will be rewarded. The sales team will work on the lead, and if it converts into business, the
person who referred the prospective customer, will get a reward. The status of the lead given will be updated in
the app. In case of employees, the bonus is linked to generation of leads. The the app will be launched in six
months.
Which bank has won the Banco Award for best performing cooperative bank?
Answer: Bhuj Mercantile Cooperative Bank
Explanation:
Bhuj Mercantile Cooperative Bank has won the Banco Award for best performing cooperative bank. Bhuj
Mercantile Cooperative Bank received the Banco Award from Telangana Chief Minister K Chandrashekhar Rao
at an award ceremony held recently in Hyderabad. Bhuj Mercantile Cooperative Bank was selected as the best
performing cooperative bank from 1500 cooperative banks in India. Also, Bhuj Mercantile Cooperative Bank
ranked in the top in Gujarat for hi-tech technology upgradation. It ranks third in the category at National level.
Banco Award is presented every year to the top performing cooperative banks to recognise and encourage best
practices in the cooperative banking sector. The banks for Banco Award were selected based on the bank’s
audited accounts for past 3 years, deposit growth, non-performing assets (NPA), net profit, customer service
standards, ratings provided by RBI, staff training, Core Banking Solution (CBS), use of latest technology, e-com
and ATM facilities.
Where the first meeting of the BRICS Finance Ministers and Central Bank Governors in the sidelines of
the IMF/World Bank Spring Meetings was held?
Answer: Washington D.C, United states
Explanation:
On 19th April 2018, the first meeting of the BRICS Finance Ministers and Central Bank Governors was held in
the sidelines of the IMF/World Bank Spring Meetings in Washington D.C., United States.Subhash Chandra Garg ,
Secretary , Department of Economic Affairs (EA) represented Ministry of Finance, India, in the meeting.
India is world’s ________largest economy in the world with a GDP of 2.6 trillion in 2017, according to the
International Monetary Fund’s World Economic Outlook (WEO) for April 2018.
Answer: 6th
Explanation:
India has been declared as the 6th largest economy in the world with a GDP of 2.6 trillion in 2017, according to
the International Monetary Fund’s World Economic Outlook (WEO) for April 2018. India has replaced France
on the 6th position. United States of America, China, Japan, Germany, and the United Kingdom are ahead of
India in the ranking. India has improved from 6.7 % in 2017 to 7.8 % in 2018.
Which private sector bank has introduced a ‘digital form’ which will help open current accounts in a
few hours?
Answer: ICICI
Explanation:
India’s largest private sector bank ICICI Bank has introduced a ‘digital form’ which will help open current
accounts in a few hours.Through ‘digital form’, ICICI Bank officials would be able to capture information about
the customer and the business digitally and verify KYC documents in real-time, at the premise of the customer.
Mention the bank which has got approval from the Reserve Bank of India to open two international
representative offices in London and Singapore.
Answer: YES Bank
Explanation:
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Mid-size private sector bank YES Bank has got approval from the Reserve Bank of India to open two
international representative offices – in London and Singapore.
On April 22,2018, Prime Minister Narendra Modi honoured officials for making ____ the first cashless
island of the country, and implementing the Goods and Services Tax (GST) and other priority initiatives
of the Centre?
Answer: Karang, Manipur
Explanation:
On April 22,2018, Prime Minister Narendra Modi honoured officials for making Manipur’s Karang the first
cashless island of the country, and implementing the Goods and Services Tax (GST) and other priority
initiatives of the Centre. Karang island, a remote and backward region. It was separated from the Bishnupur
district. Incentives were provided for training towards digital payments and five POS machines were installed
on the island. Self-help groups and youth clubs were roped in for community mobilization and parallel
activities were conducted on the island for Aadhaar enrolment and opening of bank accounts. An online
channel was launched to make people aware about digital payments. Due to this effort, 92 per cent of the bank
accounts were linked with mobile and 70 per cent of them were linked with Aadhaar.
Punjab National Bank (PNB) has stated that Union Ministry of External Affairs (MEA) has confiscated
passports of how many wilful defaulters based on its complaints?
Answer: 150
Explanation:
India’s second largest public sector bank, Punjab National Bank (PNB) has stated that Union Ministry of
External Affairs (MEA) has confiscated passports of 150 wilful defaulters based on its complaints. In addition to
impounding the passports, PNB has also lodged 37 FIRs against those who are not repaying loans. In March
2018, Union Finance Ministry asked banks to obtain passport details of those who have borrowed more than Rs
50 crore and ensure swift action in case of fraud in order to prevent them from fleeing the country. In wake of
Rs 14000-crore fraud by diamond traders Nirav Modi and Mehul Choksi, PNB has become proactive in recovery
of loans to improve its financial position. The bank has already declared 1084 wilful defaulters and published
photos of 260 such defaulters in newspapers as part of its recovery drive. PNB has claimed to leverage data
analytics for loan recovery and risk management, and has also tied up with a leading credit agency.
On April 20, 2018, Indian Overseas Bank (IOB) entered into an agreement with NeSL for utilizing its
Information Utility Services envisaged under the Insolvency and Bankruptcy Code, 2016. What does ‘S’
represent in NeSL?
Answer: Services
Explanation:
On April 20, 2018, Indian Overseas Bank (IOB) entered into an agreement with National e-Governance Services
Limited (NeSL) for utilizing its Information Utility Services envisaged under the Insolvency and Bankruptcy
Code, 2016. State-owned NeSL is the first Information Utility entity registered with the Insolvency and
Bankruptcy Board of India (IBBI) under the aegis of the Insolvency and Bankruptcy Code, 2016. Information
utility is an information network which procures and stores financial data like borrowings, default and security
interests of various entities. It enables lenders in making decisions on credit transactions. Owing to this
agreement, IOB branches will now be able to provide authenticated information about debts and defaults,
thereby enhancing transparency in maintaining the list of borrowers, debtors, creditors and loan defaulters.
On April 20, 2018, Reserve Bank of India amended its ‘know your customer’ (KYC) guidelines, making
Aadhaar mandatory for conducting customer due diligence by banks and finance companies. As per the
circular, for the purpose of doing customer due diligence, all RBI regulated entities must obtain
Aadhaar number, PAN or Form No. ____ from an individual who is eligible for enrolment of Aadhaar?
Answer : 60
Explanation:
On April 20, 2018, Reserve Bank of India amended its ‘know your customer’ (KYC) guidelines, making Aadhaar
mandatory for conducting customer due diligence by banks and finance companies. As per the circular, for the
purpose of doing customer due diligence, all RBI regulated entities must obtain Aadhaar number, PAN or Form
No. 60 from an individual who is eligible for enrolment of Aadhaar. As every citizen is eligible for Aadhaar, the
rule will apply to all Indians. The mandatory Aadhaar norm will not apply to residents of Jammu and Kashmir,
Assam and Meghalaya. In addition to this, RBI has also done away with sections relating to the use of other
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“officially valid documents” by banks and financial institutions for address and identity proof. However, any
change in norms, will be subject to a final decision by the Supreme Court on matters related to Aadhaar.
Reserve Bank of India (RBI) Governor Urjit Patel has stated that India’s Gross Domestic Product (GDP)
is expected to grow at what percentage in 2018-19?
Answer: 7.4 %
Explanation:
Reserve Bank of India (RBI) Governor Urjit Patel has stated that India’s Gross Domestic Product (GDP) is
expected to grow at 7.4% in 2018-19. Mr. Patel gave this statement while addressing the International
Monetary Finance Committee in Washington D.C, US on April 21, 2018. He stated that global demand has been
improving, which should encourage exports and boost fresh investments in 2018-19. According to Mr. Urjit
Patel, Gross fiscal deficit (GFD) of the Central Government is budgeted at 3.3 per cent in 2018-19. He outlined
that although GDP growth in 2017-18 moderated to 6.6 percent as compared to 7.1 percent in 2016-17, there
was a strong rebound in the second half of 2017-18 on the back of a turnaround in investment demand.
According to Union Finance Ministry data, total deposits in Jan Dhan accounts crossed ____ mark as on
April 11, 2018?
Answer: Rs. 80000 crore
Explanation:
According to Union Finance Ministry data, total deposits in Jan Dhan accounts crossed Rs. 80000 crore mark as
on April 11, 2018. Deposits in Pradhan Mantri Jan-Dhan Yojana (PMJDY) accounts shot up during the
demonetisation period starting from November 8, 2016. The impact was so phenomenal that deposits in PMJDY
accounts touched Rs. 74000 crore mark in the later part of November 2016 from Rs 45300 in the beginning of
November 2016. Although the deposits dipped for a brief period after that, it started picking up again in a
steady manner from March 2017 and crossed Rs 75000 crore mark in February 2018 and Rs 78000 crore mark
in March 2018. Even the Global Findex Report, 2017 released by the World Bank has acknowledged that rapid
increase in financial inclusion has taken place in India in recent years due to Indian Government’s Jan Dhan
Yojana. The increase in Jan Dhan deposits was fuelled by increase in number of Jan Dhan account holders,
which stood at 31.45 crore as on April 11, 2018as compared to 26.5 crore at the beginning of 2017.
Interestingly, 51.4 crore accounts were opened globally from 2014 to 2017. During this period 28.17 crore Jan
Dhan Accounts were opened in India, constituting almost 55 percent of the accounts opened globally.
On April 23, 2018, which Payments Bank announced that it now has over 100 million KYC wallets?
Answer: Paytm Payments Bank
Explanation:
On April 23, 2018, Paytm Payments Bank announced that it now has over 100 million KYC wallets. Paytm
stated that it was able to accomplish this feat on account of a constant campaigning highlighting about the
benefits of the Know Your Customer (KYC) system. Besides, it also introduced Paytm KYC centers and ‘Paytm-
Ka-ATM’ outlets to offer localised support. All customers who complete full KYC, get a choice to open a zero-
balance account with Paytm Payments Bank.
On April 23, 2018, which bank entered into an agreement with National e-Governance Services Limited
(NeSL) for utilizing its Information Utility Services envisaged under the Insolvency and Bankruptcy
Code, 2016?
Answer : Bank of India
Explanation:
On April 23, 2018, Bank of India (BoI) entered into an agreement with National e-Governance Services Limited
(NeSL) for utilizing its Information Utility Services envisaged under the Insolvency and Bankruptcy Code, 2016.
State-owned NeSL is the first Information Utility entity registered with the Insolvency and Bankruptcy Board of
India (IBBI) under the aegis of the Insolvency and Bankruptcy Code, 2016. Information utility is an information
network which procures and stores financial data like borrowings, default and security interests of various
entities. It enables lenders in making decisions on credit transactions. BoI will now avail NeSL service to
expedite corporate insolvency resolution process.
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On 21st April 2018, the World Bank Group approved ____ increase in paid-in capital, as part of a series of
internal reforms?
Answer: USD 13 billion
Explanation:
On 21st April 2018, the World Bank Group approved USD 13 billion increase in paid-in capital, as part of a
series of internal reforms. The package approved by the Development Committee of the Board of Governors
consists of USD 7.5 billion paid-in capital for International Bank for Reconstruction and Development (IBRD)
and USD 5.5 billion paid-in capital for International Finance Commission (IFC), through both general and
selective capital increases. It also includes a USD 52.6 billion callable capital increase for the IBRD. The boost in
capital will be supported by various internal measures like operational changes and effectiveness reforms, loan
pricing measures, and other policy steps. Following this decision, the combined financing arms of the World
Bank Group are expected to reach an average annual capacity of nearly USD 100 billion between fiscal 2019
and fiscal 2030.
Which bank has agreed in principle to give an aid of Rs 1700 crore to Uttarakhand for infrastructure
development in its urban areas?
Answer: Asian Development Bank (ADB)
Explanation:
Asian Development Bank (ADB) has agreed in principle to give an aid of Rs 1700 crore to Uttarakhand for
infrastructure development in its urban areas. Decision in this regard was conveyed to Uttarakhand Chief
Minister Trivendra Singh Rawat by the country director of ADB’s India Regiment Mission Kenichi Yokoyama at
a meeting between the two in Dehradun on April 28, 2018. Rs 1700 crore procured through ADB aid will be
utilised for creation of infrastructural facilities, sewer treatment plants and water supply facilities in urban
areas of Uttarakhand. Besides, ADB can also initiate a reform programme to economically strengthen municipal
corporations of Uttarakhand which would enable them to efficiently manage the resources at their disposal.
On 24th April 2018, Government of India, Government of Madhya Pradesh and ____ signed a $210
million loan agreement for the Madhya Pradesh Rural Connectivity Project?
Answer: World Bank
Explanation:
On 24th April 2018, Government of India, Government of Madhya Pradesh and World Bank signed a $210
million loan agreement for the Madhya Pradesh Rural Connectivity Project. The Project would enhance the
durability, resilience and safety of the gravel surfaced rural roads and improve the capacity of Madhya Pradesh
to manage its rural roads network. The Project will cover 10,510 km distance of rural roads in Madhya Pradesh
that come under the Chief Minister’s Gram Sadak Yojana (CMGSY) program. Out of this 10,000 km will be
upgraded from existing gravel to bituminous surface roads. 510 km of new roads will be built to the bituminous
surface standard. This project will carry out surface sealing of roads, embankment pitching, and balancing
culverts to prevent damages caused by extreme flood events. Alternate sealing options for road construction
like polymer modified asphalt, asphalt blended with plastic waste, and multiple surface treatment will be
piloted in 20 percent of the length. It will be cost-effective and also reduce the carbon footprint of the transport
sector. This project will involve women self-help groups (SHG) in the post construction maintenance activity.
They will carry out routine maintenance of off-carriage way parts of the road. Main carriageway maintenance
will be done by the original contractor. A direct maintenance contract will be formed between the SHG group
and MPRRDA (Madhya Pradesh Rural Road Development Authority) for 3-5 years. The project will implement
Road Accident Database Management System (RADMS). Madhya Pradesh will pilot a comprehensive Road
Safety Program (PCRSP) in districts with the most fatal and serious injuries observed in the past.
In the 3rd phase of sale, which bank has been authorised to issue and encash Electoral Bonds through
its 11 Authorised Branches with effect from 01.05.2018 to 10.05.2018?
Explanation:
In the 3rd phase of sale, State Bank of India (SBI) has been authorised to issue and encash Electoral Bonds
through its 11 Authorised Branches with effect from 01.05.2018 to 10.05.2018. Government of India notified
the Electoral Bond Scheme 2018 as on Gazette Notification No. 20 dated 2nd January 2018. Electoral Bond
Scheme 2018 states that, Electoral Bonds can be purchased by a person, who is a citizen of India or
incorporated or established in India. A person can buy Electoral Bonds, either singly or jointly with other
individuals. Only the Political Parties registered under Section 29A of the Representation of the People Act,
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1951 (43 of 1951) and those that have secured not less than 1 % of the votes polled in the last General Election
to the House of the People or the Legislative Assembly of the State are eligible to receive the Electoral Bonds.
The Electoral Bonds can be encashed by eligible Political Parties only through a Bank account with the
Authorized Bank. Electoral Bonds are valid for fifteen days from the date of issue. If the Electoral Bond is
deposited after expiry, payment will not be made to any payee Political Party. Electoral Bond deposited by an
eligible Political Party in its account will be credited on the same day.
On April 24, 2018, India signed a loan agreement worth ____ with World Bank for IBRD credit of for the
“Innovate in India for Inclusiveness Project”
Answer : $125 million
Explanation:
On April 24, 2018, India signed a loan agreement with World Bank for IBRD credit of $125 million for the
“Innovate in India for Inclusiveness Project”. International Bank for Reconstruction and Development (IBRD) is
a member institution of World Bank Group. Objective of “Innovate in India for Inclusiveness Project” is to
encourage indigenous innovation, facilitate local product development and accelerate commercialization
process in the sphere of affordable and innovative healthcare products. The project would support public,
private and the academic institutions to overcome the key market failures by bridging critical skill and
infrastructure gaps and thereby nurture an innovative biopharmaceutical and medical devices industry in
India. Term of IBRD $125 million credit will be 19 years with a grace period of 5 years.
National Bank for Agriculture and Rural Development (NABARD) has stated that it has provided an
assistance of Rs 10012 crore to which state during 2017-18?
Answer: Uttar Pradesh
Explanation:
National Bank for Agriculture and Rural Development (NABARD) has stated that it has provided an assistance
of Rs 10012 crore to Uttar Pradesh (UP) during 2017-18. The funds were provided to facilitate overall
development in the state with special focus on agricultural credit. Our of the above stated amount, Rs 8450
crore released to commercial banks, Regional Rural Banks and Cooperative Banks for providing short and long
term finance support to agriculture, allied and off farm sectors across the state. Besides, NABARD’s initiatives in
Uttar Pradesh during 2017-18 also focused on infrastructure development through dedicated funds, women
empowerment through Self Help Groups, strengthening of rural financial institutions and micro-finance. For
2018-19, NABARD’s priorities in Uttar Pradesh will be digital transformation of rural financial institution
(RFIs) and rural enterprises, crop residue management in western UP, development plans for Bundelkhand
region and setting up irrigation infrastructure.
On April 24, 2018, The NSE announced the launch of its e-Gsec platform which will allow retail investors
to invest in government securities. What “S” represent in NSE?
Answer: Stock
Explanation:
On April 24, 2018, The National Stock Exchange (NSE) announced the launch of its e-Gsec platform which will
allow retail investors to invest in government securities. Government issues securities in order to borrow
money from the market. Government Securities are offered to investors through competitive and non-
competitive auctions. Auction is held by Reserve Bank of India (RBI) on weekly basis, wherein large investors
viz. banks, primary dealers, financial institutions, mutual funds, insurance companies participate in the
competitive auctions by placing bids directly with Reserve Bank of India (RBI). In the weekly auctions, 5 per
cent of the notified amount is allotted for eligible investors under the scheme for non-competitive bidding
facility. Through NSE’s e-Gsec platform, the retail investors will now be able to participate in the next weekly
auction which is scheduled on April 26, 2018. Allowing retail participation in G-Sec auctions through stock
exchanges was first announced in Union budget 2016-17.
On April 24, 2018, Government of India signed a Legal Agreement worth $250 million with which bank
for flexible financing arrangements for National Biopharma Mission (NBM)?
Answer: World Bank
Explanation:
National Biopharmaceutical Mission is the first ever Industry-Academia mission to accelerate
biopharmaceutical development in India. This programme has been named Innovate in India (i3). It is a $250
million dollar initiative that includes a $125 million loan from the World Bank. Objective of this programme is
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to make India a hub for design and development of novel, affordable and effective biopharmaceutical products.
The thrust areas for the mission are vaccine development, biotherapeutics, diagnostics and development of
medical devices. The mission will be implemented by Biotechnology Industry Research Assistance Council
(BIRAC), a Public Sector Undertaking of Department of Biotechnology, Union Ministry of Science & Technology.
On April 24, 2018, a Legal Agreement for flexible financing arrangements for this NBM was signed between
BIRAC, Department of Economic Affairs under Union Ministry of Finance and International Bank for
Reconstruction and Development (a member institution of World Bank Group).
As per data released by Commerce Ministry, India’s global trade in 2017-18 stood at ____ ?
Answer: $767.9 billion
Explanation:
India’s global trade at $767.9 billion in 2017-18 marks an increase by 16.32 per cent as compared to $660.2
billion in 2016-17. Bilateral trade with Latin American Countries (LAC) including Bolivia, Peru, Chile and Brazil
has recorded healthy growth of 19.63 per cent in 2017-18. Out of all the above stated LACs, India-Bolivia
bilateral trade grew phenomenally at 205 per cent from $253 million in 2016-17 to $772.44 million in 2017-18.
IISL, index services subsidiary of National Stock Exchange of India has introduced Nifty Equity Savings
Index, which can serve as a benchmark for equity savings funds offered by various mutual fund houses.
What does “S” represent in IISL?
Answer: Services
Explanation:
This index captures the performance of a portfolio having exposure to equity, equity arbitrage and debt
instruments. Components and Weightage: Nifty 50 Total Return Index – 35%, Equity arbitrage (long position in
Nifty 50 Total Return Index and equivalent short position in Nifty 50 Futures Index) – 30%, Nifty Short
Duration Debt Index – 30%, Nifty 1D Rate Index – 5%.The base date of Nifty Equity Savings Index is April 1,
2005 and value is 1000. It will be calculated on end-of-day (EOD) basis.
RBI liberalised ECB Policy by including more sectors in the window. It has decided to increase the ECB
Liability to Equity Ratio for ECB raised from direct foreign equity holder under the automatic route to
7:1. What does “C” represent in ECB?
Answer : Commercial
Explanation:
RBI notified that, it has decided to increase the ECB Liability to Equity Ratio for ECB raised from direct foreign
equity holder under the automatic route to 7:1. This ratio will not be applicable if total of all ECBs raised by an
entity is up to USD 5 million or equivalent. In order to harmonise the extant provisions of Foreign Currency and
Rupee ECBs and Rupee Denominated Bonds, it has been decided to set a uniform all-in-cost ceiling of 450 basis
points over the benchmark rate. The benchmark rate will be 6 month USD LIBOR (or applicable benchmark for
respective currency) for Track I and Track II. It will be existing yield of the Government of India securities of
corresponding maturity for Track III (Rupee ECBs) and RDBs.
Railways RRB ALP 2018: 1 Free Test
NABARD 2018: Take a Free Test
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21 | P a g e
Fitch ratings has retained India’s sovereign rating at ____ with a stable outlook on account of its
assessment that upside and downside risks to ratings remains evenly balanced?
Answer: BBB
Explanation:
As per Fitch’s assessment, positive factors such as strong medium-term growth outlook for Indian economy and
favourable external balances are countered by weak fiscal management and sub-par structural factors,
including governance standards and a difficult business environment. In context of this news, it is important to
note that a rating upgrade reflects positive outlook for the country and makes it an attractive destination for
investors. Fitch has retained ‘BBB-‘ with stable outlook for India since August 2006. However, it changed the
outlook to negative in 2012 and then again to stable in 2013.
One97 Communications Limited, the owner of Paytm, announced the launch of ____ , its offline payments
solution to provide easy payments solutions for non-internet customers?
Answer: Paytm Tap Card
Explanation:
The Tap Card utilises Near Field Communication (NFC) technology to enable safe and convenient digital
payments, totally offline at Paytm-issued, NFC PoS terminals, within a second. In order to make payments, users
can add money from their Paytm account by scanning the QR code on the Tap Card and by authenticating it at
any add value machines (AVM). This will be a solution that also addresses network-related issues at the
consumers’ or merchants’ side. Paytm is tying up with events, educational institutes and corporates in the first
phase to ensure quick digital payments using the Tap card. User has to simply tap the card at a merchant outlet
to pay. This lets the user to pay through Paytm even when they are not carrying their phones.
As per a report by Deutsche Bank, Indian economy is likely to register Gross Domestic Product (GDP)
growth of what per cent in financial year 2018-19?
Answer: 7.5
Explanation:
Deutsche Bank’s 7.5 per cent growth forecast for 2018-19, marks an improvement as compared to the likely 6.7
per cent growth in 2017-18. Positive factors leading to higher growth: Improvement in capacity utilisation
which should expedite private sector capex recovery, uptick in GST collections due to implementation of e-way
bill, bad loans resolution plan and Government’s focus on infrastructure investment. However, higher global oil
prices, anticipated rate hike cycle from the RBI and negative impact of the banking sector frauds on credit may
pose a challenge to higher growth trajectory.
Name the Bank that has launched IRA 2.0, the second version of its interactive humanoid at the
Koramangala branch in Bengaluru, Karnataka?
Answer: HDFC Bank
Explanation:
IRA 2.0 has been developed by HDFC Bank in collaboration with Invento Makerspaces and Senseforth
Technologies. Through voice based navigation, IRA will interact with customers, answer bank-related queries,
frequently asked questions and will guide them inside the branch. The first version of IRA, which was launched
in January 2017 at HDFC Bank’s Kamala Mills Branch in Mumbai and is currently stationed at its Palarivattom
branch in Kochi, Kerala.
As per Niti Aayog Vice Chairman Rajiv Kumar, Indian economy is expected to grow by at least ____ per
cent in 2018-19?
Answer: 7.5
Explanation:
Mr. Rajiv Kumar believes that India’s economic growth in 2018-19 will come on back of improvement in
investment cycle and capacity utilisation. He added that overall economic environment has become extremely
positive, Foreign Direct Investment (FDI) inflow in India is increasing and capacity utilisation has risen to 74 %.
Mr. Rajiv Kumar has recommended that Indian Government should now focus on consolidating reforms that
have been initiated in past four years.
As per data provided by Union Finance Ministry, Government has collected how much amount in taxes
in the first year of the Goods and Services Tax (GST) ending March 31, 2018?
Answer: Rs 7.41 trillion
Explanation:
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Rs. 7.41 trillion collection includes Rs 1.19 trillion of Central Goods and Services Tax (CGST), Rs 1.72 trillion of
State Goods and Services Tax (SGST), Rs 3.66 trillion of Integrated Goods and Services Tax (IGST) and Rs
620.21 billion of cess for first eight months and Rs 240 billion addition for March 2018. Tax collected under
GST regime is split 50:50 between the Centre (CGST) and the states (SGST) while tax on inter-state movement
of goods as well as imports is Integrated-GST (IGST), that accrues to the Centre. Besides, cess levied over/above
these taxes on sin and luxury goods is used to compensate revenue shortfall faced by states on account of
implementation of GST.
Who has been appointed CEO of SBI Life?

Answer: Sanjeev Nautiyal
Explanation:
Padmaja Chunduru, who was in charge of digital banking and new businesses will now be in charge of SBI’s
global treasury operations while C Venkat Nageswar, who was in charge of global treasury operations will be
the new MD & CEO of SBI Capital Markets. PN Prasad, who was heading mid corporate group will be the chief
risk officer while DA Tambe will be the new chief information officer. Among other important reassignments,
Arijit Basu, who was earlier heading SBI Life, will now head corporate accounts group while Sanjeev Nautiyal
has been appointed as CEO of SBI Life.
The board of directors of Kotak Mahindra Bank has redesignated ____ as Managing Director and Chief
Executive Officer with effect from 1st May 2018?
Answer: Uday Kotak
Explanation:
Earlier, Uday Kotak was executive Vice Chairman and Managing Director. He was the only official among
private banks to have a Vice Chairman designation. All other private banks have MD & CEO designation. Kotak
Mahindra Bank also informed that Shankar Acharya, part-time Chairman, will retire on 19th July 2018. Prakash
Apte has been appointed as part-time Chairman of the Bank in place of Shankar Acharya. Prakash Apte’s term is
till 31stDecember 2020.
Which bank is withdrawing its business from Central and Eastern Europe and has announced that it
will close offices in Bulgaria?
Answer: Societe Generale
Explanation:
Societe Generale is withdrawing its business from Central and Eastern Europe and has announced that it will
close offices in Bulgaria. Societe Generale has decided to focus on other parts of their business and quit from
their business in Central and Eastern Europe. The bank in Bulgaria is sold in a package with five other divisions
in Albania, Macedonia, Montenegro, Serbia and Moldova.
Name the digital platform launched by United Bank of India that enables online payment and fee
collection services for the bank?
Answer: United e-Collect
Explanation:
United Bank of India has launched "United e-Collect", a digital platform that enables online payment and fee
collection services for the bank. United eCollect has been launched in collaboration with Worldline, a European
entity considered a leader in financial payments and transactional services industry. United e-Collect will
process online payments through Worldline’s payment gateway and will thus help United Bank of India to
extend the fee collection facility to different educational institutions, government sectors and corporate houses.
Ashok Kumar Pradhan, Executive Director of United Bank of India is hopeful that “United e-Collect” will place
United Bank of India in a competitive advantageous position vis-a-vis other market Players.
Which bank has introduced 'Social Pay', a cross-border remittance facility that can be utilised by NRIs
to send money to people in India through social media like WhatsApp and e-mail?
Answer : ICICI Bank
Explanation:
ICICI Bank has introduced 'Social Pay', a cross-border remittance facility that can be utilised by NRIs to send
money to people in India through social media like WhatsApp and e-mail. The user should register in
Money2India (M2I), ICICI’s app for remittances, to transfer money to a person in India. In order to transfer
money, users need to generate a secure link from the M2I app and share it with the beneficiary on their social
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media profile or email to add the person’s bank details. This link is valid for 24 hours. It is secured with a 4 digit
code set by the sender, which the sender shares with the beneficiary. The beneficiary validates the passcode
before adding the bank details. The sender then re-verifies and confirms the payment details on the app to
finish the transaction. ICICI Bank said that, it is the first in India to launch a cross-border remittances service
using social media. It said that, the transaction is completely safe due to the two-factor authentication process
between the bank and the M2I user.
____ has announced that any regulated Indian entity such as banks, wallets etc. shall not deal with or
provide services to any individual or business entities for buying or selling of cryptocurrency such as
Bitcoins?
Answer: Reserve Bank of India (RBI)
Explanation:
Reserve Bank of India (RBI) has announced that any regulated Indian entity such as banks, wallets etc. shall not
deal with or provide services to any individual or business entities for buying or selling of cryptocurrency such
as Bitcoins. Cryptocurrencies including Bitcoin are decentralised digital currencies which are not backed by any
Sovereign Government, Central Bank or monetary authority. Earlier, RBI had cautioned users, holders and
traders of virtual currencies, including Bitcoins, regarding various risks associated in dealing with such virtual
currencies. As per RBI, crypto currencies and crypto assets raise concerns of consumer protection, market
integrity and money laundering. RBI has given three months to regulated entities like banks to unwind their
positions with the entities related to cryptocurrencies.
Which entity is considering the possibility of introducing a central digital currency in India?
Explanation:
RBI is considering introduction of a fiat digital currency which will be issued by RBI itself and would constitute
the liability of the central bank. RBI has stated that in case if central digital currency is introduced, it will be in
circulation in addition to the paper currency and would help in reducing the cost of printing paper currencies.
An inter-departmental group has been constituted by RBI to study and provide guidance on the desirability and
feasibility to introduce a central bank digital currency.
On 5th April 2018, the Reserve Bank of India (RBI) deferred the implementation of ____ by one year
since many banks are not yet prepared to adopt the new accounting system?
Answer: Indian Accounting Standards (Ind AS)
Explanation:
On 5th April 2018, the Reserve Bank of India (RBI) deferred the implementation of the Indian Accounting
Standards (Ind AS) by one year since many banks are not yet prepared to adopt the new accounting system.
Earlier, the deadline for banks to move to the Ind AS was declared as April 1 2018. The announcement was
made by RBI deputy governor NS Vishwanathan. He said that the format of the financial statements stated in
the Third Schedule of the Banking Regulation Act is not amenable for reporting financial statements under Ind
AS. He said that, they have requested the government to amend the Schedule and it is under consideration. He
said that, RBI will continue to have the proforma of financial statements from banks to overview the progress
made towards adopting Ind-AS.
Which entity has formed an inter-departmental group to study and offer guidance on the feasibility to
introduce a central bank digital currency?
Explanation:
RBI has formed an inter-departmental group to study and offer guidance on the feasibility to introduce a
central bank digital currency. The inter-departmental group will submit its report by the end of June 2018. Fiat
currency is the currency that a government has declared as legal tender. This move comes after RBI ordered all
entities regulated by it (mainly banks, finance companies and wallets) not to deal with or provide services to
any individual or business entities dealing with virtual currencies.
Name the bank that has tied up with Samsung Electronics to enable its MasterCard and Visa credit card
customers to use 'Samsung Pay'?
Explanation:
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IndusInd Bank has announced that it has tied up with Samsung Electronics to enable its MasterCard and Visa
credit card customers to use 'Samsung Pay'. Now, IndusInd credit card holders can use 'tap and pay' scheme at
merchant outlets having Point of Sale (PoS) terminals through Samsung Smartphones. Samsung Pay enables
customers to simply tap and 'pay on the go' using their registered IndusInd Bank credit cards. It functions using
patented Magnetic Secure Transmission (MST) technology and Near Field Communication (NFC). IndusInd
Bank credit card customers with a Samsung smartphone can avail 100 % cashback on their first three
transactions till 30th April 2018.
Bank of Baroda (BoB) has hiked benchmark lending rate by how many basis points, effective from April
7, 2018?
Answer: 10
Explanation:
Bank of Baroda (BoB) has hiked benchmark lending rate by 10 basis points (0.1 per cent), effective from April
7, 2018. Bank of Baroda (BoB) has raised marginal cost of funds based lending rate (MCLR) by 0.1 per cent to
8.40 per cent for 1-year tenure. MCLR is the minimum interest rate of a bank, below which it cannot lend. It
serves as an internal benchmark for the bank. Interest rate on corporate and retail loan products is fixed above
this rate. Owing to this hike, interest rates on home and other loans linked to one-year MCLR will become
expensive by 0.1 per cent. In context of this news, it is important to note that on April 6, 2018, Reserve Bank of
India (RBI) issued its first bi-monthly policy statement for 2018-19, wherein, policy repo rate has been kept
unchanged at 6.00%.
Post office savings account holders will be able to avail a full-fledged digital banking service from ____
since the government has approved linking such accounts with that of India Post Payments Bank
(IPPB)?
Answer: May 2018
Explanation:
Post office savings account holders will be able to avail a full-fledged digital banking service from May 2018
since the government has approved linking such accounts with that of India Post Payments Bank (IPPB). The
finance ministry has approved linking of savings bank accounts at post offices with IPPB accounts. Hence, post
office account holders can transfer money from their account to any bank account. Nearly 34 crore post office
savings account holders will be able to avail the full-fledged digital banking service from May 2018. Out of the
34 crore savings accounts 17 crore are post office savings bank accounts and remaining are those subscribed
monthly income scheme, recurring deposits etc. This move also leads to creation of India's largest banking
network as India Post has planned to link all 1.55 lakh post office branches with the IPPB. India Post has started
core banking service. But it provides money transfer service within post office savings bank (POSB) accounts.
IPPB customers can utilise NEFT, RTGS and other money transfer services. After POSB accounts are linked with
IPPB, customers can use all money transfer service like other banks. By May 2018, POSB account customers will
be given an option by India Post to avail this facility.
Which Indian bank has launched its UK subsidiary, with an initial capital commitment of 225 million
pounds from its parent entity?
Explanation:
SBI has launched its UK subsidiary, SBI (UK) Limited, with an initial capital commitment of 225 million pounds
from its parent entity. SBI (State Bank of India) has become the first foreign bank in the UK to ringfence its
retail division from its wholesale business. SBI UK is SBI’s largest overseas operation. SBI UK came into effect
on 1st April 2018. Now all retail branches of SBI in the UK will come under a new UK-incorporated banking
entity. Earlier they were considered as overseas branches of the Indian entity. SBI has seven branches in
London and five branches each in Manchester, Birmingham, Wolverhampton, Leicester and Coventry. SBI said
that the ringfencing and subsidiarisation of the retail franchise SBI UK offers stability and reassurance to its UK
customers in the middle of uncertainty caused by UK's decision to leave the European Union.
On 9th April 2018, Maharashtra State Road Transport Corporation (MSRTC) said that, ____ will collect
MSRTC’s daily earnings directly from 250 bus depots all over Maharashtra?
Explanation:
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On 9th April 2018, Maharashtra State Road Transport Corporation (MSRTC) said that, the State Bank of India
(SBI) will collect MSRTC’s daily earnings directly from 250 bus depots all over Maharashtra. Maharashtra
Transport Minister Diwakar Raote said that this new collection method will ensure safety and also save MSRTC
Rs 13 crore on a yearly basis in money-transport costs, at the 284th meeting of the MSRTC. He said that daily
earnings from ticket sales and other means at the MSRTC's depots was around Rs 15 crore. He added that the
current practice was to send it to nationalised banks by road. It was risky since it had security issues. This
action has been taken after Rs 15 lakh was robbed recently, when it was transported from one of MSRTC’s
depots in Solapur to a nationalised bank.
Which bank has adopted a village in Purba Medinipur district of Odisha to familiarise the villagers with
cashless transactions?
Explanation:
Odisha’s Kalinga Nagar branch of State Bank of India (SBI) has adopted a village in Purba Medinipur district of
Odisha to familiarise the villagers with cashless transactions. SBI took the initiative at Bhagabanpur to enable
all the villagers to transact digitally. SBI provided android phones with a USB based fingerprint capture device
to shopkeepers to promote digital transactions. This will enable persons with their bank accounts linked with
aadhaar to put the thumb impression and can get the money.
On 10th April 2018, AU Small Finance Bank announced an increase in interest rates on its savings
account deposits to up to ____ per cent?
Answer: 6.75
Explanation:
On 10th April 2018, AU Small Finance Bank announced an increase in interest rates on its savings account
deposits to up to 6.75 per cent. The new rates come to effect on 11th April 2018. The revised rates are as
follows:
For savings account balances between Rs 10 lakh to Rs 10 crore, the rate has been raised by 25 basis points to
6.75 % per annum
For savings account balances between Rs 1 lakh to Rs 10 lakh, the rate has been raised by 50 basis points to
6.50 % per annum
For savings account balances below Rs 1 lakh, the rate has not been changed and remains at 5 % per annum
AU Small Finance Bank MD and CEO Sanjay Agrawal, said that, in our deposit book of Rs 7,800 crore, savings
account balances contribute around 23 per cent. He said that, they wanted to increase this share as it creates a
multiplier effect and offers a lot of opportunities for cross-selling of products. Currently, AU Small Finance
banks savings account deposit amount to nearly Rs 1,800 crore.
Which bank has partnered with Fortune Wealth Management Company Ltd to offer Portfolio
Investment Scheme (PIS) services to NRIs?
Answer: Federal Bank
Explanation:
On 7th April 2018, Federal Bank Ltd partnered with Fortune Wealth Management Company Ltd to offer
Portfolio Investment Scheme (PIS) services to NRIs. Federal Bank Deputy Vice-President and Head-
International Banking, Ravi Ranjit, said that, this will enable non-resident Indian clients to invest in Indian
equity markets on repatriable and non-repatriable basis. This partnership will also enable NRI investment in
India’s equity markets through PIS. He said that, this will be a customer-friendly and easy mechanism for NRIs
to invest in Indian equities without losing NRI status of their savings. He said that Federal Bank has more than
40 % of the deposit from NRIs and was handling 15 % of foreign remittance. He said that, PIS also allowed NRIs
to invest in shares of Indian companies, in secondary market for purchase/sale of shares or convertible
debentures through a registered broker on a recognised stock exchange.
_____ has announced that it will deploy robots to help it detect money laundering, fraud and terrorist
funding?
Answer: HSBC
Explanation:
HSBC has announced that it will deploy robots to help it detect money laundering, fraud and terrorist funding.
Deployment of robots is in line with HSBC’s initiative of making use of artificial intelligence to tackle financial
crime more effectively. HSBC will integrate the AI system Quantexa, developed by a UK-based startup, to screen
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the data it holds on customer transactions and match it against publicly available data to identify suspicious
activity.
State Bank of India has enabled 60 digital branches across India through ____, a global technology
integrator and managed services provider?
Answer: Dimension Data
Explanation:
India’s largest bank, State Bank of India has enabled 60 digital branches across India through Dimension Data, a
global technology integrator and managed services provider. SBI’s digital branches are known as
"sbiINTOUCH" and offers advanced banking services such as instant loan approvals, access to latest mutual
funds, assistance in choosing investment portfolios etc. This digital solution has currently been enabled in the
pilot phase across 21 states and 60 sites. By enabling digital branches, Dimension Data has helped SBI to create
a virtual pool of experts and specialists in strategic centres across the organisation. SBI’s users have been
provided with an immersive audio and visual experience with the added ability to print, scan and share the
document using touchscreen controls. In addition to seamless service experience for customers, this solution
will help SBI to improve sales, cross-sales and in upselling.
Which bank has adopted a village in Purba Medinipur district of Odisha to familiarise the villagers with
cashless transactions?
Explanation:
Odisha’s Kalinga Nagar branch of State Bank of India (SBI) has adopted a village in Purba Medinipur district of
Odisha to familiarise the villagers with cashless transactions. SBI took the initiative at Bhagabanpur to enable
all the villagers to transact digitally. SBI provided android phones with a USB based fingerprint capture device
to shopkeepers to promote digital transactions. This will enable persons with their bank accounts linked with
aadhaar to put the thumb impression and can get the money.
Euronet India, the provider of electronic payment services has announced that it has partnered with
which bank to modernise the bank's core payment infrastructure?
Answer: Yes Bank
Explanation:
Euronet India, the provider of electronic payment services has announced that it has partnered with Yes Bank
to modernise the bank's core payment infrastructure. Euronet will assist Yes Bank in switching transactions
between end points, driving payment channels and card management services. Yes Bank has undertaken a
project to modernise its core payment infrastructure with a view to drive the next level of digital growth and
enhance reliability, accessibility and security (RAS) parameters. As a part of this project, Euronet deployed the
entire payment stack in a private cloud, making it a first of its kind engagement in Asia Pacific.
Indian Army signed an Mou with which bank regarding Defence Salary Package on 13th April 2018?
Answer: Axis Bank
Explanation:
On 13th April 2018, a MoU was signed between the Indian Army and the Axis Bank on the Defence Salary
Package. The MoU between Indian Army and Axis Bank has been designed to meet the requirements of serving
soldiers, pensioners and their families. The signing-in ceremony was chaired by the Director-General (MP&PS),
Lt Gen SK Saini. Indian Army expects that this MoU will benefit a large number of serving and retired Army
personnel who have accounts with the Axis bank. As per this MoU, apart from other benefits, the Army
personnel will get free personal accident death cover and free permanent total disability cover of Rs 30 lakh
and a free educational cover of up to Rs 2 Lakh for children between the age of 12 and 20 years.
On 13th April 2018, SEBI imposed a penalty of Rs 15 lakh on ____, a former director of Refex Industries
for violating insider trading norms?
Answer: Jagdish T Jain
Explanation:
On 13th April 2018, SEBI imposed a penalty of Rs 15 lakh on Jagdish T Jain, a former director of Refex
Industries for violating insider trading norms. SEBI has said in its order that, Jagdish T Jain, a former whole
time director of Refex Industries, was associated with the company during the six-month period before trading
in the scrip that is on July 1, 2, 8 and 9, 2015. As Jagdish T Jain was an insider of the company, SEBI said that he
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was in possession of UPSI (unpublished price sensitive information) while performing trade in the scrip of the
company and has violated PIT (Prohibition of Insider Trading) Regulations. SEBI has imposed a penalty of Rs
15 lakh on Jagdish T Jain for this violation. SEBI had conducted an investigation in the scrip of Refex Industries
during the period from July 1 to July 23, 2015.
The government will soon acquire the stake of Reserve Bank of India in housing finance regulator NHB.
Expand NHB?
Answer: National Housing Bank
Explanation:
The transfer of stake will be cash neutral and there will be no cash outgo. RBI holds 100 per cent stake in the
NHB at present. The Finance Bill 2018 has amended to the National Housing Bank Act, 1987, for transfer of
RBI's stake in the NHB to the government. The Finance Bill 2018 was passed by Parliament in the Budget
session. After obtaining assent from the President, the Finance Ministry has initiated the stake transfer. In
2012, the Union Cabinet had approved the proposal for transfer of the RBI stake. But it was not performed due
to some reason. After obtaining ownership of NHB, the government will have more control in the boards of
these institutions and flexibility to give directions to meet its credit objectives for the priority sector.
Banking/Economy Awareness Questions - May 2018
Name the former Finance minister of West Bengal ____ who passed away after suffering from respiratory
problems, at a hospital in Kolkata on 1st May 2018?
Answer : Ashok Mitra
Explanation:
Ashok Mitra was 90 years old. He has written a few books. He is an eminent economist. He had written columns
in newspapers on social and economic issues. He was the Finance minister of West Bengal from 1977 to 1987.
He was the Chief Economic Adviser to the Central Government from 1970 to 1972.
On 2nd May 2018, the Cabinet Committee on Economic Affairs (CCEA) approved upgradation and
expansion of airport infrastructure at Lucknow, ____ and Guwahati airports with a total cost of over Rs
5,000 crore?
Answer : Chennai
Explanation:
Union commerce and industry minister, Suresh Prabhu, said that, Chennai Airport’s new terminal building will
have a capacity of 35 million passengers per year. It will be constructed at a cost of Rs 2467 crore. The new
terminal building of Guwahati Airport will have a capacity of 9 million passengers per year. It will be built at a
cost of Rs 1383 Crore. The new terminal building of Lucknow Airport will have a capacity of 13.6 million
passengers per year. It will be constructed at a cost of Rs 1232 Crore.
In a bid to curtail money laundering, Securities and Exchange Board of India (SEBI) has unveiled a
detailed framework for risk based Know Your Client (KYC) documentation of FPIs. What does “F”
represent in FPI?
Answer: Foreign
Explanation:
FPI – foreign portfolio investors.
In an FPI structured as a company, a person owning 25 per cent stake would be considered the beneficial
owner (BO). However, if it originates from a high-risk jurisdiction, any person owning 10 per cent stake or
more in such FPI would be considered a BO. In addition to this, all investors from such jurisdictions would have
to comply with the KYC requirement for category-III FPIs (considered to be High Risk entity). Besides, SEBI
clarified that non-resident Indians (NRIs), overseas citizens of India (OCI) and resident Indians cannot be
beneficial owners of FPIs and can only obtain an FPI licence on condition that they limit their roles to
investment advisors and do not invest their money. FPIs that do not comply with the new norms have been
restricted to take new derivative positions from May 2018.
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As per data released by Union Commerce and Industry Ministry, Core Sector growth slowed down to
____% in March 2018?
Answer : 4.1
Explanation:
Coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity are together referred to as
core industries. Core sector growth of 4.1% in March 2018 marks a slowdown as compared to 5.4 per cent
growth in February and 5.2 per cent growth in March last year. Slowdown in March 2018 can be largely
attributed to moderation in output of refinery products, fertilisers, steel and cement. It is to be noted that the
eight core industries constitute 40.27% of the total industrial production in India.
Who has been appointed as Chairman of Insurance Regulatory and Development Authority of India
(IRDAI)?
Answer : Subhash Chandra Khuntia
Explanation:
Subhash Chandra Khuntia is 1981-batch Karnataka-cadre Indian Administrative Services (IAS) officer. He has
held positions in Hindustan Petroleum Corporation (HPCL) and Indian Oil Corporation (IOC) and has also
served as Special Secretary and Financial Advisor in the Ministry of Petroleum and Natural Gas. The post of
Chairman of Insurance Regulatory and Development Authority of India (IRDAI) was vacant for more than two
months after TS Vijayan’s tenure came to an end on February 21, 2018.
Name the person who has been appointed by ICICI Bank’s board as an additional (independent)
director of ICICI bank for five years, on 2nd May 2018?
Answer : Radhakrishnan Nair
Explanation:
ICICI Bank said that, the appointment is subject to approval of shareholders. Radhakrishnan Nair is 63 years
old. He is also an independent director of ICICI Prudential Life Insurance Company, ICICI Prudential Trust and
ICICI Securities Primary Dealership. Also, ICICI Bank said that, Tushaar Shah, non-executive independent
director of ICICI bank will finish his 8 year term and will exit from his position on 3rd May 2018.
On May 2, 2018, Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Narendra
Modi approved to provide financial assistance of ____ per quintal of cane crushed in sugar season 2017-
18 to sugar mills to offset the cost of cane?
Answer: Rs. 5.50
Explanation:
In a bid to help sugar mills to clear cane dues of farmers, CCEA has given its approval to provide financial
assistance @ of Rs. 5.50 per quintal of cane crushed in sugar season 2017-18 to sugar mills to offset the cost of
cane. Financial assistance shall be paid directly to the farmers on behalf of the mills. This benefit will be given
only to those mills which fulfil the eligibility conditions as decided by the Government. On account of high sugar
production vis-à-vis consumption, sugar prices have remained depressed since the beginning of current sugar
season 2017-18.
Modi approved the proposal for renaming and restructuring of Multi-sectoral Development Programme
(MsDP) as ____?
Answer : Pradhan Mantri Jan Vikas Karyakram (PMJVK)
Explanation:
CCEA has approved the proposal for renaming and restructuring of Multi-sectoral Development Programme
(MsDP) as Pradhan Mantri Jan Vikas Karyakram (PMJVK). PMJVK, which has more flexibility as compared to
MsDP would provide better socio economic infrastructure facilities to the minority communities particularly in
the field of education, health & skill development as compared to the present situation. Under PMJVK, criteria
for identification of Minority Concentration Towns and Clusters of Villages have been rationalized. In addition
to restructuring and renaming MsDP, CCEA has also approved its continuation during the remaining period of
14th Finance Commission at the cost of Rs. 3972 crore.
Modi approved, for the Umbrella Scheme, _____ in agriculture sector beyond 12th Five Year Plan for the
period from 2017-18 to 2019-20?
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Answer: Green Revolution – Krishonnati Yojana

Explanation:
CCEA has given its approval for the Umbrella Scheme, “Green Revolution – Krishonnati Yojana” in agriculture
sector beyond 12th Five Year Plan for the period from 2017-18 to 2019-20. “Green Revolution – Krishonnati
Yojana” is geared towards developing the agriculture and allied sector in a holistic and scientific manner to
increase the income of farmers by enhancing production, productivity and helping them to get better returns
on produce. CCEA has approved its continuation for three financial years, i.e., 2017-18, 2018-19 and 2019-20 at
expenditure of Rs.33269.976 crore.
Who chaired the 27th meeting of the Goods and Services Tax (GST) on May 4, 2018?
Answer : Arun Jaitley
Explanation:
With a view to incentivise promotion of digital payments, a proposal of a concession of 2% in GST rate on B2C
supplies (for which payment is made through cheque or digital mode, subject to a ceiling of Rs. 100 per
transaction) was discussed. A Group of Ministers from State Governments will be setup to look into this
proposal and make recommendations, before the next GST Council meeting. It was discussed to impose a sugar
cess of maximum Rs 3 on each kg sold by sugar companies, over and above the 5% GST charged on sugar. This
move is expected to raise Rs 1540 crore which can be paid to cane farmers on behalf of mills.
What is the rank of India in the Foreign Direct Investment (FDI) Confidence Index 2018 released by
global consultancy firm A T Kearney?
Answer: 11
Explanation:
India’s 11th rank on FDI Confidence Index 2018 marks a drop of three places as compared to 8th rank in 2017.
The report outlined that Indian Government’s demonetisation move in November 2016 and roll out of Goods
and Services Tax (GST) in July 2017 may have deterred foreign investors for short term. However, investors
based in the Americas and those engaged in industry sector consider India as their preferred destination on
account of Indian Government’s inclination to have closer ties with US and its Make in India initiative aimed at
boosting investment in manufacturing sector.
Which entity has launched ‘Free Intraday Trading’, a facility that allows financial market traders to do
intra-day trading without paying any brokerage per trade?
Answer: Kotak Securities Limited
Explanation:
In financial parlance, intraday trading refers to the activity of buying and selling a security (equity, currency,
commodity) on the same day. Under Kotak Securities’ ‘Free Intraday Trading’ facility, traders can do intra-day
trades across cash, future and options segments at an annual subscription of Rs.999. As a value added service,
individuals availing ‘Free Intraday Trading’ facility will get free access to Kotak Securities research and
technology platform for the execution of their transactions.
On May 5, 2018 Shri Subhash Chandra Garg, Secretary, Department of Economic Affairs, Ministry of
Finance met President of Asian Development Bank (ADB), ____ during a tour to Manila to attend the 51st
Annual Meeting of Asian Development Bank (ADB)?
Answer: Takehiko Nakao
Explanation:
On May 5, 2018 Shri Subhash Chandra Garg, Secretary, Department of Economic Affairs, Ministry of Finance
met President of Asian Development Bank (ADB), Mr. Takehiko Nakao during a tour to Manila to attend the
51st Annual Meeting of Asian Development Bank (ADB). He requested him to support India’s endeavor and to
expand ADB’s sovereign and non-sovereign operations in India by providing financial assistance worth $ 4
billion a year. Government of India had approved the proposal of ADB to acquire additional resources through
INR bonds in the offshore markets. He also attended the 12th informal meeting of SAARC Finance Ministers and
highlighted the ongoing reforms in India .He has highlighted the need for increased private sector operations by
ADB in India.
To develop an innovative biopharmaceutical and medical devices industry in India, Government of

India has signed an agreement with which bank?
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Answer: World Bank

Explanation:
The agreement has signed at a cost of USD 250 million for five years with 50 per cent funding through the
World Bank Loan. The agreement for the Project was signed by Sameer Kumar Khare, Joint Secretary,
Department of Economic Affairs, Ministry of Finance, on behalf of the Government of India; Mohd. Aslam,
Managing Director, Biotechnology Industry Research Assistance Council (BIRAC); and Hisham Abdo, Acting
Country Director, World Bank India, on behalf of the World Bank. It will also encourage to develop promote
industry-academia interface and enable start-ups and small and medium enterprises to build innovation
research capacities for developing affordable healthcare products.
The Centre for International Development at Harvard University Predicted the Fastest growing
economies in the world for the Upcoming Decade. Which country has topped this list?
Answer: India
Explanation:
The Centre for International Development at Harvard University Predicted the Fastest growing economies in
the world for the Upcoming Decade.The Growth projections are based on some of the economic
Complexity.India Topped the list with the Projection of 7.9 Per cent which is far high than China (4.9 Per
cent),U.S.(3 Per cent),France (3.5 Per cent).Uganda is in Second Position with predicted growth of 7.5 percent.
Top Fastest Growing Countries are:
1.India(1st Place)
2.Uganda(2nd Place)
3.Tanzania(4th Place)
4.Kenya(10th Place)
Asian Development Bank( ADB) has projected India’s growth as _____ in Fiscal Year 2018 & ____ in the
next Fiscal?
Answer: 7.3 %, 7.6 %
Explanation:
ADB’s Chief Economist Yasuyuki Sawada said that the India’s Growth in 2017 is low because the Introduction of
Demonetisation.And he Further Continues that the growth Projection of India is high from the Previous year is
because of the Implementation of GST,Foreign Direct Investment also helps in India’s growth & the Most
Important Factor which boost the growth is the Governments Initiative of Ease of Doing Business.
Reserve Bank of India has directed banks authorised to deal in foreign exchange (Authorised Dealer-I
Banks) to share data with the DRI. What does “D” represent in DRI?
Answer: Directorate
Explanation:
DRI = Directorate of Revenue Intelligence
This decision has been made in line with the government making rules (in December 2017) to exercise powers
conferred by the relevant sections of the Customs Act. This requires a banking company to furnish,
electronically, information relating to foreign exchange transactions made or received by any person to the
receiving authority (DRI). DRI is the top intelligence and investigative agency for issues related to violation of
the Customs Act. As per new rules, in case of inward remittances, the agency can seek information relating to a
remittee’s name, address, permanent account number (PAN), Goods and Service Tax Identification Number
(GSTIN), Aadhaar number, bank account number and Indian Financial System Code (IFSC), remitter’s details
like name, address, and SWIFT-BIC (Society for Worldwide Interbank Financial Telecommunication – Bank
Identifier Code).
On 4th May 2018, Reserve Bank of India (RBI) announced that, it will buy ___ of government bonds
through open market operation (OMO)?
Answer: Rs 10,000 crore
Explanation:
RBI made this decision after failing to sell all the debt it had offered to bidders. It was the third consecutive
week when the RBI couldn’t sell everything on offer which lead to a spike in bond yields. RBI said that, the
decision is based on an assessment of prevailing liquidity conditions and also of the durable liquidity needs
going forward. This will infuse more liquidity into the system against the backdrop of persistently high bond
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yields. The 10-year government bond yield increased to 7.75 percent from 7.74 percent before the auction
result was announced. It had ended at 7.73 percent on 3rd May 2018.
Bank deposit growth fell to a five-decade low in fiscal year ended March 2018. The data showed that
cumulative deposits in the banking system grew ____ in 2017-18, the lowest since fiscal 1963.
Answer: 6.7%
Explanation:
A total deposit of ₹114 lakh crore was reported in the last fiscal .The data showed that cumulative deposits in
the banking system grew a mere 6.7% in 2017-18, the lowest since fiscal 1963. During November-December
2016, banks received Rs 15.28 lakh crore as people deposited highdenomination currency notes that were
withdrawn from circulation. As a result, aggregate deposits in the fiscal ended March 2017 grew 15.8% to Rs
108 lakh crore. This pace of growth has now come down by 6.7% with deposits aggregating Rs 114 lakh crore.
Total mutual fund assets under management have increased 22% to Rs 21.36 lakh crore in March 2018 from Rs
17.55 lakh crore in March 2017.
On 7th May 2018, Government of India signed a loan deal worth $ 200 million with _____ for the National
Nutrition Mission (POSHAN Abhiyaan)?
Answer: World Bank
Explanation:
This loan will help India to reach its goal of reducing stunting in children of the age 0-6 years from 38.4% to
25% by 2022. The POSHAN (PM’s Overarching Scheme for Holistic Nourishment) Abhiyaan was launched by
Prime Minister on 8th March 2018 at Jhunjhunu, Rajasthan. POSHAN Abhiyaan’s main objective is gradual
increase of the interventions supported by the World Bank assisted Integrated Child Development Services
(ICDS) Systems Strengthening and Nutrition Improvement Project (ISSNIP) to all districts in India for a 3-year
period. This loan will support the first phase scale up to 315 districts and union territories (UTs) in India. The
coverage and quality of ICDS nutrition services for pregnant and lactating women and children under 3 years of
age will be improved.
____ Finance Commission has constituted an Advisory Council to advise and assist the commission?
Answer: Fifteenth
Explanation:
Members of Advisory Council: Arvind Virmani – President of Forum for Strategic Initiatives, Surjit S. Bhalla –
Part-time Member of Economic Advisory Council to Prime Minister and Sr. Indian Analyst for the Observatory
Group and Chairman of Oxus Research and Investments, Sanjeev Gupta – Ex-Deputy Director (Fiscal Affairs
Department) of International Monetary Fund (IMF), Pinaki Chakraborty – Professor at National Institute of
Public Finance and Policy (NIPFP), Sajjid Chinoy – Chief India Economist at JP Morgan and Neelkanth Mishra –
Managing Director and the Credit Suisse India Economist and Strategist.
As per International Monetary Fund’s (IMF’s) Asia and Pacific Regional Economic Outlook report
released on May 8, 2018, which country will be the fastest growing major economy in 2018, clocking a
growth rate of 7.4 per cent?
Answer: India
Explanation:
As per IMF, Indian economy is recovering from after effects of demonetisation in November 2016 and roll out
of Goods and Services Tax (GST) in July 2017. IMF reiterated that medium-term prospects for Indian economy
remains positive and growth rate is expected to rise to 7.8 per cent in 2019. Consumer Price Indexinflation is
projected to be five per cent in 2018 and 2019. On account of increased inflation pressure, IMF is of the view
that monetary policy should maintain a tightening bias.
On 8th May 2018, the Indian tea industry reached the highest ever production of _____ and export of
256.57 million kg during the financial year 2017-18?
Answer: 1,325.05 million kg
Explanation:
The total tea production in 2017-18 increased by 74.56 million kg or 5.96 % compared to 2016-17. In 2016-17,
India produced 1,250.49 million kg of tea. The total quantity of tea exports during 2017-18 fiscal increased by
28.94 million kg or 12.71 % compared to 2016-17. The tea exports were 227.63 million kg in 2016-17. The
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foreign exchange obtained from tea exports was $785.92 million in 2017-18. It is an increase of $95.19 million
or 13.78 % over 2016-17.
Name the bank that has planned to launch a capacity building project with farmers in Haryana and
Rajasthan under its ‘Livelihood and Water Security’ CSR (Corporate social responsibility) initiative?
Answer: YES Bank
Explanation:
The main focus of the programme is sustainable agricultural practices and digital literacy. It aims to improve
farmers’ access to finance, offer effective use of digital banking resources, and good agricultural practices. The
programme will be launched during the current year in Haryana and Rajasthan. Initially it will be launched in
15 districts (eight districts in Haryana and seven in Rajasthan). It will benefit 10,900 farmers. Digital
methodology will be used to train farmers.
As per Credit rating agency Fitch, Indian economy is projected to grow at ____ percent in current fiscal
i.e. 2018-19 and ____ percent in next fiscal?
Answer: 7.3, 7.5
Explanation:
The above projection has been made in Fitch’s second-quarter Sovereign Credit Overview for Asia Pacific
region. Fitch has outlined that India’s economic growth is likely to accelerate as money supply has recovered to
its pre-demonetisation level (pre-November 2016) and disruptions related to the rollout of the Goods and
Services Tax (GST), in July 2017 have diminished. Besides, implementation and continued broadening of the
government’s structural-reform agenda will lead to a gradual improvement in country’s business environment.
According to a report titled ‘Indian Industry’s Inclusive Footprint in South Africa – Doing Business,
Doing Good’, released by the Confederation of Indian Industry (CII) and PricewaterhouseCoopers
(PwC), how many Indian companies have invested close to $4 billion in South Africa?
Answer: 140
Explanation:
Investment of Indian companies in South Africa is mainly in healthcare and pharmaceuticals, Information
Technology (IT), automobile industry and finance sectors. Major Indian companies that have invested in South
Africa are Wipro, Cipla, Coal India, HCL Technologies, Tata Motors, Mahindra & Mahindra and Zomato. It is
noteworthy that investment of Indian companies in South Africa is not just limited to tapping business
opportunities but also comprise Corporate Social Responsibility (CSR) and skill development initiatives aimed
at empowering local people.
What is the name of the parliamentary panel of 30 members that has been constituted under the
chairmanship of Mr.MuraliManohar Joshi?
Explanation:
On 10th May 2018, a parliamentary panel of 30 membersestimate Committeealso known as Continuous
Economy committee has been constituted by the speaker of parliament . Veteran BJP leader Mr.MuraliManohar
Joshi has been appointed as the chairman of this committee. This committee will focus on the black money and
the unaccounted money that was legaitimised during the demonetization period as per RBI’s report. Also it will
look into the performance of public sector bank, import of uranium ,preparedness of Indian armed forces,
environment and mining activities, among other things related to various ministries in the year 2018-2019.
Which payments bank has recently launched a digital services suite consisting of BPay app, Unified
Payment Interface (UPI), BHIM app, net banking facility, a Digi Savings Account and FasTag?
Answer: Fino Payments Bank
Explanation:
The suite includes BPay app, which was launched in September 2017 for digital transition of customers from
assisted to self-service mode. In addition to BPay, the suite includes Unified Payment Interface (UPI) , BHIM
app, which has proved to be a game changer in peer-to-peer and merchant payments. The suite also includes
net banking facility, a Digi Savings Account which can be opened online only by providing Aadhaar number and
PAN card and FasTag to make digital payments at national highway toll plazas.
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Which bank has announced that Reserve Bank of India has restricted it from taking fresh credit
exposure and recruiting new staff?
Answer: Dena Bank
Explanation:
It is to be noted that RBI initiated prompt corrective action against Dena Bank and imposed certain restrictions
in May 2017 owing to high net non performing assets (NPA) and negative Return on Assets. The fresh
restriction has been imposed in wake of deteriorated financial performance for the 4th quarter of 2017-18. For
fourth quarter ended March 31, 2018, Dena Bank reported a net loss of Rs 1225 crore, which is much wider
than the net loss of Rs 575 crore recorded in the same quarter last year. In addition to this, for the financial year
2017-18, Dena Bank recorded a net loss of Rs 1924 crore marking a third consecutive year of net loss.
ICBC, a state-run Chinese bank has launched ICBC Credit Suisse India Market Fund, China’s first India-
dedicated publicly offered investment fund. Expand ICBC?
Answer: Industrial and Commercial Bank of China
Explanation:
The fund will invest in exchange-traded funds listed on more than 20 exchanges in Europe and the US that are
based on the Indian market. ICBC is pitching this fund to investors stating that Indian market offers the best
opportunity for Chinese investors due to the prospects of double-digit growth. Interestingly, this fund has been
launched within a fortnight after the first ever informal summit between Prime Minister Narendra Modi and
Chinese President Xi Jinping at Wuhan.
As per data released by the Union Ministry of Commerce and Industry, Wholesale Price Index (WPI)-
based inflation stood at ___ in the month of April 2018?
Answer: 3.18 percent
Explanation:
WPI for April 2018 at 3.18 percent is higher as compared to 2.47 percent for the previous month. The rise can
be attributed to increment in index of ‘Food Articles’ group which went up by 1.9 percent to 139.8 (provisional)
from 137.2 (provisional) for the previous month. The increment was mainly on account of higher price of tea,
fruits and vegetables, pork, paddy and maize. However, index of Non-Food Articles’ group declined by 0.9
percent to 119.1 (provisional) from 120.2 (provisional) for the previous month due to lower price of raw silk,
floriculture, gaur seed and gingelly seed.
RBI has debarred which bank from high-risk lending and has advised to reduce exposure to unrated
and high-risk advances, which is under prompt corrective action (PCA) since January 2018?
Answer: Allahabad Bank
Explanation:
RBI has debarred Allahabad bank from high-risk lending and has advised to reduce exposure to unrated and
high-risk advances. Allahabad Bank has also been restricted by RBI from creating non-banking assets and
accessing or renewing wholesale or costly deposits or certificate of deposits. These actions have been
suggested by RBI by considering Allahabad Bank’s Capital to Risk (Weighted) Assets Ratio (CRAR) and leverage
ratio positions. Allahabad Bank is the second lender (after Dena Bank) among the 11 banks under prompt
corrective action (PCA) that has been restricted by the RBI from lending to risky assets.
On May 14, 2018, Paytm introduced ____, an automatic recurring payments feature that lets users of
Paytm app to pay for periodic recurring expenses automatically?
Answer: My Payments
Explanation:
This feature is similar to standing instructions for bank accounts, that can be used for high-value payments for
a variety of cases such as house rent, maid/driver’s salary, milk or newspaper vendor payments online. It is
expected that ‘My Payments’ feature will significantly boost bank-to-bank transactions on Paytm. It is to be
noted that Paytm processes about 1 billion transactions every quarter.
Yes Bank and its think tank YES Global Institute have launched ____, aimed at creating a synergetic
startup environment for budding women entrepreneurs in India?
Answer: Agenda 25×25
Explanation:
This initiative was launched at YES Bank – YES Global Institute Annual Startup Conclave hosted in partnership
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with NITI Aayog, Invest India, Startup India and Atal Innovation Mission.’Agenda 25X25’ is geared towards
ensuring that by 2025, at least 25% of all entrepreneurs in India are women. A study by YES Bank-YES Global
Institute, titled ‘Putting Women First: Building the Start-up Ecosystem Ground Up’ emphasised on the need to
build a 10 Step Developmental Model focused on empowering women innovators, synergizing collaborations,
catalyzing investments and increasing economic opportunities.
On May 15, 2018, Income Tax Department launched the ____, the third income return form for
assessment year 2018-19, on the official e-filing portal?
Answer: ITR-2
Explanation:
ITR-2 is for individuals, Hindu Undivided families (HUFs) and NRIs who have income from any sources except
income from profits and gains of business or profession. With this, a total of three Income Tax Returns (ITRs)
have now been activated by Income Tax Department viz. ITR-1 (Sahaj), ITR-4 and ITR-2. ITR-1 is primarily for
salaried class of taxpayers with income up to Rs 50 lakh from salary while ITR-4 is for professionals and self-
employed individuals who have opted for the presumptive income scheme. Four more ITRs will be activated as
per Central Board of Direct Taxes (CBDT) notification on April 5, 2018.
Which bank will sell 8.26 % stake in Universal Sompo General Insurance to Dabur Investment
Corporation and Sompo Japan?
Answer: Karnataka Bank
Explanation:
This transaction is waiting for approval from Insurance Regulatory and Development Authority of India
(IRDAI). After this transaction, Karnataka Bank’s stake in the general insurance company will reduce to 6
percent from the current 14.26 percent. Sompo Japan’s stake will increase to 34.61 percent from 28.42 percent
and Dabur Investment Corporation’s stake will increase to 12.81 percent from 10.74 percent.
As per a report by HSBC inflation is set to rise further during Oct 2018 to March 2019 and could average
____ per cent for financial year 2018-19?
Answer: 5.1
Explanation:
This year’s projection of 5.1 per cent is higher as compared to 3.6 per cent last year. Higher oil prices, a weaker
rupee, higher minimum support prices (MSPs) for agricultural commodities and more currency in
circulationhave been identified as factors that will fuel higher inflation. However, the report has outlined that if
appropriate actions are taken now, inflation may move lower in 2019-20, and could even fall back towards the
RBI’s 4 per cent target by the second half of 2019-20. It is to be noted that in April 2018, retail inflation inched
up to 4.58 per cent, reversing the declining trend of past three months, while Wholesale Price Index (WPI)
inflation also rose to 3.18 per cent on account of spike in fuel prices.
Smaller towns are driving growth for SBI Cards (a subsidiary of State Bank of India) which has been
increasing its card numbers at a CAGR of 40%. What does “C” represent in CAGR?
Answer: Compounded
Explanation:
In terms of spending, Cardholders in centres outside the top 10 cities account for 45% of spending. Primary
reason behind this surge is the penetration of mobile-phone internet which accounts for 20% of spending from
smaller towns. SBI cards, the second-largest credit card issuer after HDFC Bank currently holds 16% market
share (in terms of number of cards) and is the only stand-alone credit card company in India.
Which stock exchange has become the first Indian exchange to be recognised as a designated offshore
securities market (DOSM) by the U.S. Securities and Exchange Commission (SEC)?
Answer: Bombay Stock Exchange (BSE)
Explanation:
The DOSM status eases the trades by U.S. investors in India as it allows sale of securities to U.S. investors
through the trading venue of BSE without registration of such securities with the U.S. SEC. In addition this,
DOSM recognition also enhances the attractiveness of Indian Depository Receipts (IDRs) amongst US investors.
Few exchanges across the world that have the DOSM recognition are London Stock Exchange, Bourse de
Luxembourg, Tokyo Stock Exchange and Toronto Stock Exchange.
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Reserve Bank of India (RBI) has modified the norms for setting up IBUs by banks. What does “I”
represent in IBU?
Answer : International Financial Services Centres (IFSC)
Explanation:
As per the new norm, parent bank will be required to provide and maintain at a minimum capital of USD 20
million in its IBU on an ongoing basis. The modification has been brought in to accommodate suggestions from
stakeholders to consider minimum prescribed regulatory capital at the parent level rather than at the IBU level.
However, parent bank will be required to provide a Letter of Comfort for extending financial assistance, as and
when required, in the form of capital/liquidity support to IBU. It is to be noted that, government has set up an
IFSC in Gujarat (Gujarat International Finance Tec-City, GIFT in Gandhinagar).
Reserve Bank of India (RBI) has released final guidelines prescribing 100 percent NSFR for banks
aimed at maintaining adequate liquidity for more resilience. Expand NSFR?
Answer: Net Stable Funding Ratio
Explanation:
NSFR is a long-term liquidity measurement included in the Basel III liquidity standards. It is defined as the
amount of available stable funding (ASF) relative to the amount of required stable funding (RSF). A portion of
capital and liabilities which has been assessed to be reliable over a year is referred to as ASF, while RSF is
bank’s liquidity position required to honour maturities of the various assets and other off-balance sheet
exposures. RBI’s 100 per cent NSFR guideline requires banks to fund their activities with more stable sources
of funding on an ongoing basis.
As per UN World Economic Situation and Prospects (WESP) as of mid-2018, India’s economy is
projected to grow ____ per cent in fiscal year 2018-19?
Answer: 7.6
Explanation:
Clocking 7.6 per cent growth, India will retain the tag of fastest growing economy in the world. Gross Domestic
Product (GDP) growth in 2018-19 will come on back of robust private consumption, supportive fiscal stance
and benefits from past reforms. However, sustained recovery in private investment has been identified as a
crucial challenge. As per the report, economic growth in China is likely to moderate to 6.5 per cent in 2018 as
compared to 6.9 per cent in 2017.
On 18th May, Arunachal Pradesh Chief Minister Pema Khandu launched LED Solar Street Lighting
System in 4 Districts. This scheme was launched with the help of which bank?
Answer: National Bank for Agriculture and Rural Development (NABARD)
Explanation:
Chief Minister of Arunachal Pradesh launches the Scheme by dint of National Bank for Agriculture and Rural
Development (NABARD),which Sanctioned the Scheme Under its Rural Infrastructure Development Fund. The
NABARD has given a total amount of Rs 87.83 lakh for implementing LED Solar Street lighting System in the
State. The C.M. Pema Khandu Launched the Scheme in four districts of Arunachal Pradesh namely, Tirap,
Longding, Namsai and Tawang in the presence of NABARD Chairman Harsh Kumar Bhanwala.
According to AfrAsia Bank Global Wealth Migration Review 2018, which is the sixth wealthiest country
in the world?
Answer: India
Explanation:
Top 10 Wealthiest Countries:
Rank Country Total Wealth
1 US $62,584 billion
2 China $24,803 billion
3 Japan $19,522 billion
4 United Kingdom (UK) $9,919 billion
5 Germany $9,660 billion
6 India $8,230 billion
7 Australia $6,142 billion
8 Canada $6,393 billion
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9 France $6,649 billion

10 Italy $4,276 billion
On 20th May 2018, Reserve Bank of India slapped a penalty of ____ on South Indian Bank?
Answer : Rs. 5 crore
Explanation:
This penalty was levied due to non- compliance of Income Recognition and Asset Classification(IRAC) norms,
Know-Your-Customer (KYC) norms and treasury functionand also for deficiencies in its compliance function
and compliance culture. This penalty has been imposed in exercise of powers vested in RBI under the
provisions of Section 47A(1)(c)with Section 46(4)(i) of the Banking Regulation Act, 1949.
According to the Customs Brokers Licensing Regulations, 2018, notified by the CBEC, unique identity
number Aadhaar and PAN is mandatory for persons seeking a customs broker licence. What does “E”
represent in CBEC?
Answer: Excise
Explanation:
Customs broker is a person licensed to act as an agent on behalf of importer/exporter for transaction of
business relating to entry or departure of conveyances or goods at any customs station. Every year, in April,
Directorate General of Performance Management, invites applications for conducting examination and
subsequent grant of licence to act as customs broker. This licence is issued with a validity for 10 years. A
customs broker is obliged to verify identity of the client and functioning at the declared address by using
authentic documents and reliable information.
On May 21, 2018, which bank extended $300 million loan to EESL (Energy Efficiency Services Limited)
to scale up energy efficiency program?
Answer: International Bank for Reconstruction and Development (IBRD)
Explanation:
The Aim is to avoid lifetime greenhouse emissions of 170 million tonnesof CO2 and 10GW of additional
generation capacity. This would be over 50 percent of the National Mission for Enhanced Energy Efficiency
target of 19.6 GWindicated in India’s Nationally Determined Contributions (NDCs) under the Paris Accord. This
will include creating sustainable markets for LED lights, energy efficient ceiling fans, facilitating well-structured
and scalable investments in public street lighting, developing sustainable business models ,super-efficient air
conditioning, agricultural water pumping systems and strengthening the institutional capacity of EESL.
India’s GDP for January-March 2017-18 has been expected at ____ by rating agency ICRA?
Answer: 7.4 %
Explanation:
ICRA expects GDP growth in January-March 2017-18 at 7.4 % due to good rabi crop harvest and corporate
earnings. It was 7.2 per cent in the third quarter. The Central Statistics Office (CSO) will release the GDP
estimate for the fourth quarter (Q4) of fiscal 2017-18 and provisional annual estimates for the year 2017-18 on
31st May 2018.
On May 21, 2018, Bank Note Paper Mill India (BNPM) received environment clearance (EC) from
Environment Ministry to increase production of bank note paper from 12,000 tonnes per annum (TPA)
to ____ at its Mysuru unit in Karnataka?
Answer: 16,000 TPA
Explanation:
This environment clearance (EC) is subject to compliance of certain conditions like developing greenbelt in 33
% of the project area. BNPM is a joint venture between Bharatiya Reserve Bank Note Mudran (BRBNMPL) and
Security Printing and Minting Corporation of India (SPMCIL).
Mr. Samaresh Parida and Mr. N Jambunathan were appointed independent directors on the board of
which bank on 21 May 2018?
Answer: IDBI Bank
Explanation:
Mr. Samaresh Parida and Mr. N Jambunathan were appointed to the board. Mr. Parida was a former consultant
and Mr.Jambunathan was the former Deputy Managing Director of SBI. The former Directors who resigned
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were : Mr. Ninad Karpe and Mr. S Ravi. They are alleged to have had a connection in a Rs.600 crore NPA case
filed by CBI.
The BRICS New Development Bank (NDB) plans to launch Americas Regional Office in ____?
Answer: Brazil
Explanation:
It is done to increase the operational capabilities of NDB in Brazil . This will help in identification and
preparation of bankable projects in Brazil. Apart from this there is another centre: The African Regional Centre
in Johannesburg , South Africa.
On May 22,2018 , which bank started major operations at GIFT city?

Answer: Bank of Baroda
Explanation:
The bank will now offer its services including retail loan processing, deposit account openingin this Shared
Service Centre (SSC). It will have a staff strength of 200. The bank will become one of the largestemployers in
the Ahmedabad-Gandhinagar region. The bank had taken 20,000 sq, ftof office space in GIFT City, making it the
first Indian bank to move several key operations to the smart city.
On May 22,2018, which bank signed agreement with CDSL Commodity Repository (CCRL) for pledge
finance under the repository ecosystem for registered / accredited warehouses?
Answer : Bank Of Baroda
Explanation:
This agreement is for pledge financeunder the repository ecosystem for registered / accredited warehouses.
The new ecosystem will boost confidence among bankers and other stakeholders like depositors and
warehouse service providers. This will also provide various features to its stakeholders such as seamless
transfer of ownership of commodity by the depositors, splitting of warehouse receipt by the depositors, real
time and ease of access of information by the banks that will help them reduce their TAT in processing the
loans and marking the pledge on the commodity.
On May 22, 2018 , The Vice Chairman of NITI Aayog Rajiv Kumar said that the Indian economy and
business will grow to a ____ % growth rate by 2022?
Answer: 4.9
Explanation:
This was possible because of the reforms like GSTand demonetization and the Insolvency and Bankrupty Code
(IBC). Also encouraging electric vehicleswill aid in the improvement as petrol prices are growing to a USD 80
per barrel. The NITI Aayog is working on projects to demonstrate that farmers income can be doubled by 2022.
Indian economy grew by 6.6% in 2017-18 and is expected to grow by 7.5% in 2018-19 fiscal.
On May 23,2018, which bank launched Digital Loans against Mutual Funds in partnership with transfer
agent CAMS?
Answer: HDFC Bank
Explanation:
Customers will be able to leverage their mutual fund portfolio to avail funds for any contingencies or
emergencies without liquidating their investments or stopping their regular investment plans. The bank has a
tie-up with 10 mutual companies against whose policies loans will be given. The ticket size of the loans will
range from Rs 1 lakh to Rs 1 crore at an interest rate of 10.5 -11%.The bank has a mutual fund loan portfolio of
Rs 10,000 crore.
What is the rank of India in terms of competitiveness, in the annual rankings compiled by International
Institute for Management Development (IMD)?
Answer: 44
Explanation:
United States has obtained first rank in the list. It is followed by Hong Kong and Singapore in the second and
third place respectively. The Netherlands and Switzerland also have secured a place in the top five positions.
India has improved one rank from last year and secured 44th position worldwide. It has been ranked the 12th
most competitive economy out of the 14 Asian countries on the list. The other top 10 countries are: Denmark
(6th), the UAE (7th), Norway (8th) and Sweden (9th) and Canada (10th).
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On May 24,2018, Reserve Bank of India announced that banks’ credit grew at 12.64% and deposits at
____% as on May 11,2018 data?
Answer: 7.61 %
Explanation:
Credit grew by 12.64 percent year-on-year to Rs 85,51,099 crore in the fortnight ending in May 11, 2018
compared to the fortnight ending in May 12, 2017, banks’ advances stood at Rs 75,90,941 crore. April 27, 2018,
bank credit had increased by 12.61 percent to Rs 85,38,570 crore,from Rs. 75,82,391 crore in the period ended
April 28, 2017. Loans to agriculture and allied activities increased by 3.8 percent in March 2018, against an
increase of 12.4 percent in March 2017. Advances to industry grew by 0.7 percent in March 2018, compared
with a contraction of 1.9 percent in March 2017.
Who was appointed as the Managing Director and Chief Executive Officer of Airtel Payments Bank, on
24th May 2018?
Answer : Anubrata Biswas
Explanation:
Anubrata Biswas has succeeded Shashi Arora as MD & CEO of Airtel Payments Bank. Shashi Arora resigned in
December 2017 after the e-KYC controversy. Earlier, Anubrata Biswas was Joint General Manager and Retail
Business Head – South India for ICICI Bank.
Who has been appointed as the chairperson of Punjab and Sindh Bank?
Answer: Charan Singh
Explanation:
On May 24,2018, The Finance Ministry appointed non-executive chairpersons in 3 PSBs. Charan Singh has
served at IMF as senior economist and at Reserve Bank of India as director.
Name the person who has been appointed as the Chairperson of Dena Bank?
Answer: Anjali Bansal
Explanation:
On May 24,2018, The Finance Ministry appointed non-executive chairpersons in 3 PSBs. Anjali Bansal is
founder of Spencer Stuart’s India and had worked with McKinsey and Company.
____ has been appointed as the chairperson of Central Bank of India?

Answer: Tapan Ray
Explanation:
These appointments have been done on recommendations for the Banks Board Bureau (BBB). Tapan Ray has
served as Secretaryin the Ministry of Corporate Affairs.
On 24th May 2018, CSC SPV and which bank signed an MoU to offer financial support to CSCs (Common
Services Centers) all over India?
Answer: Small Industries Development Bank of India (SIDBI)
Explanation:
As per the MoU, SIDBI will offer financial support to the Village Level Entrepreneurs (VLEs) of Common
Services Centers, with minimum one year of operation, under the Direct Financing Window of SIDBI. Through
Direct Financing Window, CSC SPV will approve the list of VLEs, within 25 km distance of SIDBI Branch Offices,
who are in need of financial support.. In order to receive the loan, the VLEs should submit their CSC project,
with maximum project outlay of Rs. 3.50 lakh and term loan requirement under Rs. 2 lakh per project.
On May 25,2018, National Stock Echange (NSE) approved which bank to be empanelled as ‘Settlement
Bank’ for National Securities Clearing Corporation (NSCC)?
Answer: Yes Bank
Explanation:
It will provide different services to the member viz. Settlement and Clearing, electronic fund transfer and
‘anywhere’ banking and free of cost fund transfer across all centres of NSE’s members. NSCCL will be
coordinating with YES bank accounts for its risk management and settlement operations that it does on behalf
of NSE.
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On May 26,2018, National Cooperative Development Corporation (NCDC) sanctioned Rs. 5000 crore for
which state government farm loan waiver?
Answer: Rajasthan
Explanation:
The Rajasthan government on its budgetary speech had announced a one timeloan waiver for upto Rs. 50000
for small and marginal farmers provided by cooperative banks. This would cost the Government Rs. 8000
croreamount . In May 31 the govt will start district loan waiver camps from Banswara district.
On May 26,2018, ICICI bank launched its innovation lab for digital business. As a part of the process the
bank has acquired fintech ____?
Answer: SIgnzy
Explanation:
The innovation fund for this project with partnered concerns is : Rs. 100 crore. Innovation in areas like : digital
small ticket personal loans, ‘one cycle’credit loans (allowing the user to retain the money until the next
transaction). The lab will function on a 3 point strategy : ‘Run , Evolve & Imagine’. As a part of the process the
bank has acquired fintech SIgnzywhich will help in online KYC with its blockchain technology and Fingapy
which will allow customers to shop without credit cards using biometrics.
On May 26,2018, The boards of Max Financial Services and Max Life Insurance appointed _____ as the
Director?
Answer: Sachil Vachani
Explanation:
He started his career as a banker with Citigroup in London . In 2004 he joined Dixon Technologies as business
head. He has joined as the representative of owner group to create a powerful real estate brand –Max Estates.
He has successfully worked on sale of 22.5% stake of Max Ventures to New York Life Insurance Company in
2017 and a joint venture of Max ventures with Japans’ Toppan printing company ltd.
From May 28- 31st , the 15th Finance Commission will be visiting Kerala. Name the Chairman of 15th
Finance Commission?
Answer: N.K. Singh
Explanation:
The commission was led by Chairman N.K. Singh. Kerala is the 10thlargest state that contributes to 4.2% of GDP
of the nation. It has the highest per capita income. The state has a booming service sector. Emigration and
Immigration remittances is huge in Kerala. In terms of development indicators like per capita income, poverty
ratio, health and education Kerala has better points than national average.
On May 27,2018, the Employees Provident Fund Organization (EPFO) decided to cut its administrative
charges by _____ %?
Answer: 0.5%
Explanation:
This would help around 5,00,000 employers to save around Rs. 9 billion annually from the cut. This would
come into effect from June 1 ,2018. The Charges has been modified from 0.65 to 0.50 % of the wage paid by the
employer. Earlier EPFO has cuts its administrative charges from 1.10 to 0.85 in 2015, them to 0.65 in 2017.
On May 28,2018, Reserve Bank of India (RBI) has instructed ____ to continue its banking services
keeping the limitations in mind till August 31 2018?
Answer: Rupee Co-op Bank
Explanation:
On May 28,2018, the Central Bank of India, Reserve Bank of India (RBI) has instructed the Rupee Co-op Bank of
Pune to continue its banking services keeping the limitations in mind. Restriction were first imposed on
February 22 ,2103 to August 2013 and that was extended 8 times till May 2018. RBI has further extended the
restrictions for further 3 months till August 31 2018.
Who has been named the first chief financial officer (CFO) of the Reserve Bank of India (RBI) effective
from 15th May 2018?
Answer: Sudha Balakrishnan
Explanation:
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Sudha Balakrishnan was the vice-president of National Securities Depository Ltd (NSDL). She is a chartered
accountant. She will be the 12th executive director of the RBI. Her appointment will be for a period of 3 years
initially. This can be extended, subject to an annual review.
On 29th May 2018, an agreement for IBRD Credit of _____ from World Bank for the Strengthening of
Public Financial Management in Rajasthan Project was signed in New Delhi?
Answer: USD 21.7 Million
Explanation:
The agreement was signed by Sameer Kumar Khare, Joint Secretary (FB and ADB), Department of Economic
Affairs, Ministry of Finance on behalf of Indian Government and Mr. Hisham Abdo, Acting Country Director,
World Bank (India) on behalf of the World Bank. The Implementing Entity Agreement was signed by the
Secretary, Finance (Budget) on behalf of Rajasthan Government, and the Acting Country Director (India) on
behalf of the World Bank. Project size: is nearly USD 31 million. Out of this USD 21.7 million will be funded by
the World Bank. Rest of the amount will be funded-out of the State Budget.
On May 30,2018, State Bank of India hiked its fixed deposit rates for selected tenures. FDs of 2-3 years
will be getting interest rate of ____%?
Answer: 7.15 %
Explanation:
The range of hike starts from 0.05 (5bps) to 0.25 (25 basis points ) . The newest interest rate will come into
effect from May 28. SBI will offer 6.65 % for 1 to 2 year term deposists from 6.4%. Term deposits with 2-3 years
with fetch 6.65% from 6.60% form earlier.
On May 30,2018, according to Moody’s investor service report India’s GDP forecast has gone down to
____% from 7.5% for 2018?
Answer: 7.3
Explanation:
The forecast for 2019 is constant at 7.5%.With higher rural consumption and supported by minimum support
price and normal monsoon the economy is moving forward. By addressing the repair in impaired assets of
banks and corporates through the Insolvency and Bankruptcy Code the economy will be improving. The GST
may weigh down the growth too.
On 29th May 2018, the ICICI Bank board appointed former Bank of Baroda (BoB) chief _____ as an
additional (independent) directorfor a period of 5 years?
Answer: M D Mallya
Explanation:
M D Mallya’s appointment is subject to the approval of shareholders. His appointment comes a month before
the ICICI bank’s chairman M K Sharma completes his term. Before joining BoB, M D Mallya was the chairman of
Bank of Maharashtra. He is 65 years old. He joined Corporation Bank in August 1976. He also served as
executive director of Oriental Bank of Commerce (OBC). He was also the chairman of the Indian Banks
Association.
On May 31,2018, Indian Government has signed a loan agreement with the International Bank of
Reconstruction and Development (IBRD) an arm of World Bank for ___ for PMGSY (Pradhan Mantri
Gram Sadak Yojna) Rural Roads Project?
Answer: $500 million
Explanation:
This loan has a grace period of 3 years and a maturity period of 10 years. The loan agreement for the project
was signed by Sameer Kumar Khare, joint secretary, Department of Economic Affairs, Ministry of Finance, on
behalf of the government of India and Junaid Ahmad, country director, World Bank India, on behalf of the
World Bank in the presence of Alka Upadhyaya, joint secretary (RC), Ministry of Rural Development. The
financing would help in bringing new construction technology like green and low carbon design and climate
resilient techniques.. For adequate maintenance of existing 4.6 million km of road networks.
On May 31,2018, Asian Development Bank approved $375 million loan for a project to improve
irrigation in which state and help increase farmer’s income?
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Answer: Madhya Pradesh

Explanation:
The project will expand irrigation networks and system efficiency. The total cost of the project is $535.1
millionand $160.71 million will be given by the government. The estimated time of completion of the project is
September 2025. In the first stage , the Kundalia irrigation project will develop 125000hectare of new ,
efficient, Climate resilient irrigation networks.
On May 31,2018, The ministry of Statistics reported that India’s GDP grew at ____ % in Q4 of financial
year 2017-18?
Answer: 7.7
Explanation:
The full year growth is at 6.7%.It surpassed China’s trajectory of 8%.The ministry revised the October-
December growth from earlier 7.2% to 7.0%.It can be forcasted that the growth is towards a 7.3% for annual
growth.
On May 31,2018, which bank was recognized with the Champion Security Award at the 14th Visa Asia
Pacific Security Summit?
Answer: HDFC Bank
Explanation:
Australia/New Zealand: National Australia Bank Limited
Greater China: National Credit Card Centre, Taiwan
India & South Asia: HDFC Bank Limited
Japan: Mitsubishi UFJ NICOS CO., Ltd
South Korea: Lotte Card Company, Limited
Southeast Asia (2 awards): 1.Krungthai Card Limited
2. Bank Mandiri
Best in Asia Pacific: United Overseas Bank (Singapore)
Banking/Economy Awareness Questions - June 2018

On June 1, 2018, the Ministry of Culture launched a new scheme called ____ to reimburse the central
government of CGST and IGST to reduce the financial burden of the religious institutions who serve
neccessities to the public / devotee free of cost without discrimination?
Answer: Seva Bhoj Yojana
Explanation:
The services include food, Prasad, langar (Community Kitchen). The charitable institutions include Temples,
Gurudwara, Mosque, Church, Dharmik Ashram, Dargah, Matth, Monasteries who have been existing for at least
5years before the grant. They should serve at least 5000 people in a month and is under Societies Registration
Act and under Income Tax Act (under section 10 (23BBA)). The institutions will be given renewed registration
by the Ministry as per evaluation of their performance.
On June 1,2018, the Income Tax Department issued revised ____, to increase public participation with
the IT department to unearth black money and reduce tax evasion?
Answer: Income Tax Informants Reward Scheme 2018
Explanation:
This has replaced the reward scheme issued in 2007.. Under this scheme a person upon giving specific
information about tax evasionto the Investigation Directorate of the IT department can be rewarded upto Rs.
50 lakhs. A reward of upto Rs. 5 crore would be given to people who would provide precise information about
the black money tugged away in the foreign countries by individuals that come under Black Money
(Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015.
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A new reward scheme named ____ has been introduced by the Income Tax Department to encourage
people to provide information about benami transactions and properties and also income earned on
such properties by hidden investors and beneficial owners?
Answer: Benami Transactions Informants Reward Scheme, 2018
Explanation:
This reward scheme aims to encourage people to provide information about benami transactions and
properties and also income earned on such properties by hidden investors and beneficial owners. Under the
Benami Transactions Informants Reward Scheme, 2018, a person can receive reward up to Rs. 1 crore for
offering specific information in prescribed manner to the Joint or Additional Commissioners of Benami
Prohibition Units (BPUs) in Investigation Directorates of Income Tax Department.
On June 1, 2018, a co-founder of Citrus Mr. Satyen Kothari launched his new venture of an app that can
sweep funds between bank a/cs and Mutual Funds. Name the app?
Answer : Cube Wealth
Explanation:
The app is called ‘Cube Wealth’. Cube with Zerodhaand other asset management companies has come up with
the solution of fund transfer services. Customers can retrieve money to their bank a/cs during emergencies
however, this feature is only available to those whose initial amount of transaction is Rs. 50000. The platform
will provide wealth advisors and will be available from June 5, 2018.
On June 2,2018, International Monetory Fund (IMF) released its loan of ____ to the island nation of
Srilanka?
Explanation:
This loan is a part of a deal of amount $1.5 billionthat was to be loaned by the IMF to SriLanka. The move of
price increase of fuel was welcomed. The cooking gas and lamps has doubled. The gasoline price has been
increased by 15 %. The restructuring of loss making SriLankan Airlines was proposed.
SBI (State Bank of India) has increased its lending rate by how many basis points for all tenors upto 3
years?
Answer: 10
Explanation:
On June 2,2018, India’s major banks SBI, PNB and ICICI bank raised the lending rate making the loans costlier.
They increased their benchmark lending rate (MCLR) by 10basis points or by 0.1 %.SBI has increased its
lending rate by 10 basis points for all tenors upto 3 years. The MCLR for overnight and one month tenors is for
7.9% and for the three years tenor is 8.45%. PNB has raised tenors for 3 and 5 years to 8.55% and 8.7%. PNB
has also raised the base rate of 9.15% to 9.25%.ICICI has raised MCLR for 5 year tenors to 8.70% and also
changed tenors for three and one year.
On June 3, 2018, The Financial Literacy week begins from June 4 to June 8 2018. What is the theme for
this year’s Financial Literacy week?
Answer: Consumer Protection
Explanation:
This event would create awareness among customer of banks about the various financial products and services
available to them and would encourage them to go digital. It would consist of 4 consumer protection messages
like ‘Good Practices for safe digital banking’ and ‘Know your liability’ focusing on the liability of the customer
for safe digital banking where if the bank is informed within 3 days of unauthorized digital transaction the
customer won’t be liable. Resolution of the complaints would be received within 90 days from the date of
receipt of complaint.
On June 3, 2018, the global financial services major Morgan Stanley reported that India would become a
leader in shared mobility by which year?
Answer: 2030
Explanation:
This improvement would be caused by the increasing amount of electric and autonomous vehicles being used.
This would increase the shared miles by 35% to 50% of all miles travelled in India by 2040. The trend of shared
mobility with the vast population and internet services would help replace the public transport system and
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individual car ownership by app based taxi services. In 2017, 10% of a total of 257 million miles have been
travelled by shared mobility and this trend would increase to 35% by 2030.
India would import its first ever LNG from Russia on June 4, 2018. India is considered the _____ largest
buyer of Liquefied Natural gas?
Answer: fourth
Explanation:
GAIL India Ltd. will be importing the LNG from Gazprom at Petronet LNG. Earlier LNG from US was imported at
Dabhol port of Mumbai for the first time. The supply between GAIL and Gazprom is a 20 year deal of import of
2.5 million tonnes of LNG a year. The further breakup of the 2.5 million tonnes is : 0.5 MT in 2018-19 , 0.75 in
2019-20, and 1.5 MT in 2020-21.
On June 4, 2018, Minister of Commerce and Industry , Mr. Suresh Prabhu attended an informal meeting
of the commerce ministries in World Trade Organisation in _____?
Answer : Paris
Explanation:
There were commerce ministers from 28 member states and Director General of WTO were present. He
stressed the need of political engagement for the trade. There is a Work Programme in Ecommerce in which
India is an active member. He stressed that working multilaterally with the developing and Least developed
countries would help in boosting trader and addressing the challenges faced by WTO.
On June 4, 2018, RBI supplied _____ for the implementation of Telengana Government’s investment
program ‘Rythu Bandhu’ launched in May 2018?
Answer: Rs.5400 crore
Explanation:
Under the scheme the state govt. will give 4000 per hectare for two seasons by cheques . The Govt. has allotted
12000 crore as the budget in the scheme. The amount of total Rs.5400 crore was given to the banks and the
State Financial Department. A total of 59 lakh cheques has been dispatched by the banks headed by SBI. For the
current season total requirement for the scheme is Rs.5700 crore.
On June 4, 2018, the government is planning merger of 4 banks : Bank of Baroda, Central Bank , IDBI
bank, and which other bank?
Answer: Oriental Bank
Explanation:
These four banks has a combined loss of Rs. 21,646.38 crore in the financial year end of March 31. The
Government is planning to merge and create 4-5 global sized lenders like SBI. This will create India’s second
largest bank after SBI having combined asset of Rs 16.58 trillion . The share of bad loan has increased . The total
quantum of bad loans – loans where corporate borrowers are not repaying their dues to banks- has crossed Rs
10 lakh crore. This includes the Rs 8.9 lakh crore share of government owned banks.
Name the Chief Executive Officer (CEO) of IDBI Bank who has been appointed as fourth RBI Deputy
Governor for a 3 year term, on 4th June 2018?
Answer: Mukesh Kumar Jain
Explanation:
He was CEO of IDBI since March 2017 and previously he was CEO of Chennai based Indian Bank. He will be
replacing SS Mundra whose tenure ended in July 2017. As per RBI Act , there are 4 deputy governors : 2 from
within the bank , a commercial banker and an economist. The other current Deputy governors are : i. Shri B. P.
Kanungo , ii. Dr. Viral V. Acharya , iii. Shri N.S. Vishwanathan.
On June 3, 2018, which Bank becomes the first corporate bank to make use of UK’s Open Banking
regime?
Answer: Citi Bank
Explanation:
According to the open banking regime the European Banks are required to share customer data with third
party banks upon the customers’ approval. Citi Bank is the first to enroll as “Payment Initiation Service
Provider”. This would enable it to receive small payments directly from UK’s customer bank accounts without
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debit or credit cards. This initiative will be less time consuming and cheaper compared to other alternatives
like PayPal etc.
On 4th June 2018, The ICAI and South African Institute of Chartered Accountants (SAICA) have signed
an agreement to set up a framework for recognizing members easier and encourage mobility of
professionals between both countries, at the SAICA head office in Johannesburg. Expand ICAI?
Answer: Institute of Chartered Accountants of India
Explanation:
This agreement will help in mutual recognition of each other’s qualification and admit members by a bridging
mechanism between India and South Africa. As per the agreement, an ICAI member is exempted from
appearing in Part I or initial test of competency and practical training requirements of SAICA. Also, he/she can
become a member of SAICA on completing the assessment of professional competence (APC) examination. Also,
if an individual ICAI applicant, in good standing, fulfils the competency requirements of SAICA competency
framework, membership of SAICA may be given without the completion of the APC examination.
On June 5, 2018, Bharat Financial Inclusion Ltd. received a no–objection nod for its merger with which
Bank?
Explanation:
Bharat Financial (earlier known as SKS Microfinance ) has got the nod from multiple stock exchanges like NSE
and BSE after SEBI’s approval. This merger was proposed and drafted by the board of directors of both the
companies on October 2017. IndusInd Bank would acquire BFIL through all stock deal. BFIL caters to the
weaker section of society and has is present across 16 states covering 1 lakh villages.
On June 6, 2018, a 6 member committee headed by RBI governor Urijit Patel will announce second bi-
monthly Monetory Policy of 2018-19. In April, the repo and reverse repo rate was unchanged at ___ and
____?
Answer: 6%, 5.75%
Explanation:
It is the first time this will be a three day meeting . The Monetary Policy Committee would be setting the
benchmark interest rate. In April, the repo and reverse repo rate was unchanged at 6% and 5.75%. RBI
predicted the GDP to grow by 7.4% for FY19.
On 6th June 2018, which Bank received RBI’s approval for merger of Capital First, Capital First Home
Finance and Capital First Securities with the company?
Answer: IDFC Bank
Explanation:
The Reserve Bank of India (RBI) has given its no objection for the voluntary merger of Capital First Ltd, Capital
First Home Finance Ltd and Capital First Securities Ltd with IDFC Bank. In January 2018, the company said that,
its board of directors has approved merger of the three entities with IDFC Bank.
On June 6, 2018, World Bank approved an amount of ____ for the implementation of Atal Bhujal Yojana?
Answer: Rs. 6000 crore
Explanation:
The Atal Bhujal Yojana is under the Ministry of Water Resources , River Development and Ganga Rejuvination .
This scheme would be implemented from 2018-19 to 2022-23 for a period of 5 years. This scheme has been
recommended by the Expenditure Finance Committee.
World Bank (WB) has projected that the Indonesian economy will grow ____ % this year?
Answer : 5.20
Explanation:
This projection is more than the Indonesian government’s projection of 5.18 %.World Bank has said that
private consumption and investment would strengthen. World Bank country director for Indonesia, Rodrigo A
Chaves said that, the investment growth is still high, considering the increasing prices of commodities. He also
said that, the global economy would face a slower growth due to tightening monetary conditions.
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The Expenditure Finance Committee (EFC) has approved revised cost estimate of Dam Rehabilitation &
Improvement Project (DRIP) for ____ and has extended time duration for ending this project till June
2020?
Answer : Rs. 3466 Crore
Explanation:
A meeting of the Expenditure Finance Committee (EFC) under the Chairpersonship of Secretary, Department of
Expenditure, was conducted recently. The meeting heard the proposal of Ministry of Water Resources, River
Development and Ganga Rejuvenation for revised cost estimate of DRIP. DRIP is funded by World Bank. DRIP is
a state sector scheme with central component. It aims to enhance safety and operational performance of
selected dams and institutional strengthening with system wide management approach.
On June 8, 2018, the RBI amended Gold Monetisation Scheme to enable people to open a hassle free
gold deposit account. In the latest amendment, RBI allowed the customers to deposit the gold in a
broken time period where the short term period of one to ____ years can be broken to 1 year 3 months ,
2 years 3 months 15 days etc.?
Answer : three
Explanation:
The scheme was first launched by the government in 2015 to mobilise the idle gold of the household or
institutions to the banks as deposits for a fixed period of time . The interest rate varied from 2.25% to 2.5%. In
the latest amendment , RBI allowed the customers to deposit the gold in a broken time period where the short
term period of 1-3 years can be broken to 1 year 3 months , 2 years 3 months 15 days etc. Similarly for Medium
Term Period is for 5-7 years and Long Term Period for 12-15 years and can be broken as well.
On June 8, 2018, Bank Of India has raised its marginal cost lending rate (MCLR) by how many basis
points?
Answer : 10
Explanation:
Increase by (basis
Tenure Latest rate of Interest
points)
Overnight 10 7.90
One – Month 10 8.20
Three months 10 8.30
Six months 10 8.45
One year 10 8.50
On June 8, 2018, Mr. Ramesh Abhishek, Secretary, Department of Industrial Policy Promotion
announced that Foreign Direct Investment in India has risen up to ____ billion in 2017-18?
Answer: $61.90
Explanation:
The FDI inflows were $60 billion in 2016. FDI has increased by $222.75 billion from $152 billion in 4 years.
According to United Nations Conference on Trade and Development (UNCTAD) the FDI to India has decreased
to $40 billion in 2017 from $44 billion in 2016. And outflows have doubled.
On June 8, 2018, Credit rating Agency Moody’s predicted India’s fiscal deficit to be ____% of GDP for FY
2018-19?
Answer: 3.3
Explanation:
The planned expenditure of the govt has been suggested to be cut back . Government is likely to reduce excise
duty on petroleum and diesel products if the price of global crude continues to remain high. Budgetary cost of
the new minimum support price formula for agricultural products and extra subsidies on LPG and kerosene
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could put additional pressure on expenditure. Fiscal Responsibility and Budget Management (FRBM) Act to
enhance its existing fiscal policy framework and strengthen policy credibility.
On June 8, 2018, who was appointed by World Economic Forum (WEF) as a member to its Managing
board?
Answer : Sarita Nayyar
Explanation:
She is presently working with WEF as Chief Operating Officer (COO) . She joined WEF in 2007 and have been
holding various directorships including responsibility for engagement with the consumer industries, MD and
COO of WEF LLC and Deputy Head of Industries. She would overlook the international expansion with
upcoming centres in India and Japan.
On June 9, 2018, Syndicate Bank raised its MCLR by how many basis points?
Answer : 5
Explanation:
The bank has raised its MCLR by 5 basis points or by 0.05%. The Bank has kept MCLR unchanged for other
tenors. This would come into effect from June 10, 2018.
On June 5, 2018, which bank launched a first of a kind new deposit scheme to fetch Rs. 1000 crore from
the scheme named ‘Green Future : Deposit”?
Answer: Yes Bank
Explanation:
This scheme is called ‘Green Future : Deposit”. This would provide a peak interest of 7.5% and has a tenure of
18 months 8 days to 18 months 18 days. For senior citizens it would provide 8% interest . It has also launched a
pilot project for recycled dry waste generated at facilities and has recycled close to 9.5 tonne of dry waste,
resulting in 27.35 MT of carbon footprint reduction every quarter.
On June 9, 2018, Bandhan Bank appointed former RBI deputy governor _____ as non- executive part time
chairman?
Answer: Harun Rashid Khan
Explanation:
Mr.Khan’s appointment will be for a period of 3years with effect from June 5, 2018 or till the expiry of his term
as an independent director whi chever is earlier. Khan will be the independent director of the bank at a
remuneration of Rs 24 lakh per annum subject to RBI and other approvals. Khan retired as the deputy governor
of RBI in July 2016 after nearly 38 years of service.
On June 5, 2018, Private sector bank Karur Vysya Bank announced its tie up with _____ to provide
insurance services to customers?
Answer: Aditya Birla Health
Explanation:
On June 5, 2018, Private sector bank Karur Vysya Bank announced its tie up with Aditya Birla Health. It has
already partnered with Birla Sunlife Insurance for the same. ABHICL will be able to access millions of
customers of KVB, especially in the Tier I, II and III centres.
On June 09, 2018, which Payments Bank was denied permission to use the UIDAI’s e-KYC facility due to
wrong doing from the bank’s part?
Answer: Airtel Payments Bank
Explanation:
As per RBI’s report the Bank has used the e-KYC facility to provide LPG subsidies to its customers without
permission. UIDAI revoked a suspension on the use of e-KYC facility.This would hamper bank’s competition and
in achieving new customers and to provide facilities to its existing 10 million customers. They can carry out
limited KYCs based on virtual IDs rolled out by the UIDAI.
On June 10, 2018, According to a report by Confederation of Indian Industries (CII) a growth close to ____
% GDP in Industry in the next 2 years is expected?
Answer: 8%
Explanation:
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Rs 50,000 crore worth of investments have been made. Fiscal prudence, able macroeconomic management, and
strong reforms would be the reasons for the growth. Good performance across sectors such as automotives,
white goods, steel, cement, and capital goods. Manufacturing of smartphone components is set to go up,
indicating upward local value-addition.
On June 8, 2018, ____ has received the National Payments Excellence Award2017 by National Payments
Corporation of India (NPCI)?
Answer: SVC Co-operative Bank
Explanation:
On June 8, 2018, SVC Co-operative Bank has received the National Payments Excellence Award2017 by National
Payments Corporation of India (NPCI). It is the highest recognition in the banking industry for exceptional
performance in payments system. This is for their outstanding performance in NFS ATM Network and CTS .
This effort will help in upgrading from the cheque system to UPI system and inclusion in the digital umbrella.
One June 11, 2018, On the backdrop of rising oil prices and shortfall in FPI inflows to the country the
RBI is expected to raise ____ via NRI bonds to raise the rupee?
Answer: $30-35 billion
Explanation:
FPI has been slowed down amidst political volatility and with listing of Chinese forms in global benchmark
indices. China market could list a $100 billion in 2019 . RBI would release a fourth tranche of NRI bonds. RBI
will issue NRI bonds if the global oil prices persist at USD 70/bbl.
On June 11, 2018, the government is likely to launch a Rs 500-crore credit enhancement fund next
month to facilitate infrastructure investments by insurance and pension funds. The initial corpus of the
fund will be sponsored by IIFCL. What is the full form of IIFCL?
Answer: India Infrastructure Finance Company
Explanation:
This will help in upgrading credit ratings of bonds issued by infrastructure companies and facilitate investment
from investors like pension and insurance funds. The initial corpus of the fund, to be sponsored by IIFCL (India
Infrastructure Finance Company), will be Rs 500 crore, and it will operate as a non-banking finance company.
IIFCL will hold a 22.5 per cent stake in the NBFC, while the Asian Infrastructure Investment Bank (AIIB) has
offered to pick up a 10 per cent stake,SBI, Bank of Baroda and LIC will also have stakes in the firm.
Who has been appointed as the Chairman of Central Board of Indirect Taxes and Customs (CBIC)?
Answer: S Ramesh
Explanation:
The Appointments Committee of Cabinet (ACC) has cleared the appointment of S Ramesh as the next Chairman
of CBIC. He has been a member of Central Board of Indirect Taxes and Customs (CBIC). He will replace Mrs
Vanaja N. Sarna, who will be retiring in the end of June 2018.
Which country is working to bring together a group of 8-10 member countries of the WTO to develop an
agenda to create a conducive atmosphere in Geneva for smooth functioning of WTO (World Trade
Organisation)?
Answer : India
Explanation:
This will be an informal group within the World Trade Organisation (WTO). It might include countries like
Brazil, China, South Africa, China, Indonesia and Columbia. The main focus is to develop a proper structured
agenda that will be acceptable to all countries to reduce the tension prevailing among the WTO member
countries. The commerce ministry will discuss the issue internally and will work on the structure. This move
will be beneficial since trade tensions have heightened after the US levied high customs duties on some steel
and aluminum products.
On June 12, 2018, According to SBI’s annual report for 2017-18, which bank has the highest value share
of mobile banking transactions by 17.2%?
Answer: Axis Bank
Explanation:
Paytm tops the chart by volumes with 22% and by value it is 0.25%. ICICI has 17.1% share by value and 9.7%
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by volume. SBI has 19.5% by volume in January 2018 compared to 25% at the end of March 2019. By value
share SBI has 16.8% from 44.4% in 2017.
On June 13,2018, Overseas Private Investment Corporation (OPIC) under the US government gives _____
to Grameen Impact Investments through IndusInd Bank to support domestic small and medium
enterprises
Answer: Rs.33.5 crore
Explanation:
This loan comes via IndusInd Bank through an agreement. Grameen Impact is supported by Gramin Capital
India including many leading impact investors like Acumen. India has rapidly become a global leader in impact
investing, with over USD 5 billion of investments in this space.
On June 13, 2018, which stock exchange launched a ‘Tri-party Repo Market Platform’ for repurchase of
corporate debt security?
Answer: National Stock Exchange (NSE)
Explanation:
It is a repo contract where a third entity, apart from the borrower and lender, called tri-party agent acts as an
intermediary to facilitate services like collateral selection, payment and settlement, custody and management
during the life of the transaction. It provides opportunity to borrow against the securities and provides short-
term liquidity to participants. This would increase demand for corporate bonds and may provide a boost to
much needed liquidity in the corporate bond market.
On June 13, 2018, Securities Exchange Board of India (SEBI) has set up a panel to make listings of
startups attractive. SEBI board approved doubling the investment limit by angel funds in venture
capital undertakings to _____ drive the startups?
Answer: Rs 10 crore
Explanation:
The ITP has facilitated listing of new age companies in sectors like e-commerce, data analytics, bio-technology
and other startups. Members of the group include representatives from the Indian Software Product Industry
Round Table (iSPIRT), The Indus Entrepreneurs (TIE), the Indian Private Equity and Venture Capital
Association (IVCA), law firms, merchant bankers, and stock exchanges. SEBI board approved doubling the
investment limit by angel funds in venture capital undertakings to Rs 10 crore to drive the startups.
On 12th June 2018, shareholders of Yes Bank approved the reappointment of _____ as MD & CEO of Yes
bank for a further period of 3 years with effect from 1st September 2018?
Answer: Rana Kapoor
Explanation:
Rana Kapoor’s reappointment is subject to final approval by the RBI. The following appointments were also
made in the meeting: Subhash Chander Kalia as non-executive non-independent director and Rentala
Chandrashekhar and Pratima Sheory as independent directors for a period of 5 years. Also a proposal to
borrow or raise funds up to Rs 30,000 crore in Indian or foreign currency was approved. A special resolution
was passed in this regard, increasing the total borrowing limit of the bank to Rs 1.1 lakh crore. The meeting was
chaired by Ashok Chawla, non-executive chairman of the bank. It was attended by all nine directors on board.
On 13th June 2018, name the former financial services secretary who assumed office as the chairman of
Arohan Financial Services?
Answer: DK Mittal
Explanation:
Arohan Financial Services is a microfinance company. It is planning to publicly list its shares in 2018. DK Mittal
is an Indian Administrative Service officer of 1977 batch of Uttar Pradesh cadre. He will be the independent
chairman to Arohan’s board. Arohan Financial Services is a part of the Aavishkaar-Intellecap Group. It is the
seventh largest MFI (microfinance institutions) in terms of outstanding loans at the end of 2017.
On June 14,2018, which bank has been ranked as the 5th biggest public company globally in the
‘consumer financial services category’ compiled by Forbes in its 16th annual Forbes Global 2000 list?
Answer: HDFC Bank
Explanation:
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American Express tops the chart. Indiabulls Housing Finance is the only other Indian company (at 13th place)
on the list. HDFC has ranked 7th in 2017 compilation. Other companies and their ranks are : Capital One
Financial at the 159 place, followed by Visa (164),Orix (254), PayPal (337), Synchrony Financial (340), Discover
Financial Services (356) and Mastercard (367).
On June 14, 2018, The Indian GDP has been predicted to grow by ____% in FY19 by Fitch?
Answer: 7.4
Explanation:
The Rupee has been among the worst performers in Asian currency. The higher oil prices as reason for financial
risk. It has earlier predicted GDP growth by 7.3% for FY 2018-19 and For FY20 it is 7.5%. It forecasted that oil
prices will remain at $70 / barre lup from $54.9 a barrel with an expected drop to $65/ barrel for 2019.
On June 15, 2018, Andhra Bank increased its MCLR by how many basis points for various tenors?
Answer: 5
Explanation:
The changes are in the following table:
Tenor Increased rate in %
Overnight 8
One Month 8.05
Three Months 8.25
Six Months 8.40
One Year 8.55
On June 15, 2018, The government of India approved HDFC Bank to raise additional share capital of up
to a maximum of ____ through Qualified Institutional Placement (QIP)?
Explanation:
The approval includes an Rs 8,500-crore infusion from parent Housing Development Finance Corp (HDFC). This
will allow it to maintain its 25.6% current shareholding, potentially leaving about Rs 15,500 crore to be raised
from the market. It is the country’s largest sell of share. The QIP record is Rs 15,000 crore raised by State Bank
of India (SBI) in June 2017.
On June 15, 2018, Global ratings agency Fitch downgraded ICICI Bank’s support rating floor to ____ from
‘BBB-’?
Answer: BB+
Explanation:
It downgraded ICICI Bank’s ‘support rating’ to ‘3’, from ‘2’, its support rating floor to ‘BB+’, from ‘BBB-’ .But the
agency has affirmed the issuer default ratings and viability ratings of ICICI Bank and Axis Bank at ‘BBB-’ and
‘BBB-’. ICICI Banks governance is under investigation. Axis Bank’s rating degraded to negative from stable,
pointing to the high proportion of NPAs.
On June 15, 2018, which Japanese group has decided to invest $60 bn – $100 bn in India’s solar power
generation?
Answer: Softbank Group Corp
Explanation:
The investment would be made through a fund backed by Saudi Arabia’s government. Saudi Arabia is the
largest investor in SoftBank’s Vision Fund, which raised over $93 billion last year. In 2015 SoftBank decided to
invest $20 billion in Indian solar projects in a joint venture with India’s Bharti Enterprises and Taiwan’s
Foxconn.It had a goal of generating 20 gigawatts (GW) of energy. In April,2018 SoftBank teamed up with
China’s GCLSystem Integration Technology Co Ltd on a $930 million Indian solar energy venture.
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On 15th June 2018, PhonePe announced that it has partnered with which of the following cab
aggregator to enable riders to book rides using PhonePe’s payment platform?
Answer: Ola
Explanation:
PhonePe is owned by Flipkart. PhonePe has also added ‘Auto-pay’ feature that enables users to make payments
easily. Users can switch off ‘Auto-pay’ instructions at any time. PhonePe has said that, these moves will help
businesses to reach out with their services to a highly growing base of more than 100 million PhonePe users.
PhonePe is also adding partners in the travel, hospitality, ticketing and food sectors to its micro-app platform.
On June 16, 2018, which Bank introduced a novel card variant called ‘KBL Deposit Only Card’?
Answer: Karnataka Bank
Explanation:
On June 16, 2018, Karnataka Bank introduced a novel card variant called ‘KBL Deposit Only Card’. This card is
meant for Bank’s Current/Overdraft customers. This would ensure hassle free cash deposit transactions at
Bank’s 24×7 e-Lobby Services. By using this card customers can perform cash deposit transactions even with
higher deposit limit at Bank’s Bunch Note Acceptor (BNA) / Cash Recycler kiosks.
On June 16, 2018, Marg ERP limited partnered with which Bank to offer an integrated payments
platform to Micro, Small and Medium Enterprise (MSME) customers, using Marg’s accounting software?
Answer: ICICI Bank
Explanation:
MSMEs are no longer required to toggle between a banking platform and an ERP software to undertake their
business transactions. It would allow them to seamlessly connect their banking and accounting, which was once
available only for large companies with large IT and infrastructure budgets. This would also enable ICICI Bank’s
current account holders to securely connect their bank account with the Marg ERP software and make digital
transactions.
On June 16, 2018, Pakistan and ____ inked agreements worth $565 million to help build and support the
projects in power and water sectors?
Answer: World Bank
Explanation:
The total cost of NTDC’s project would be $536.33 mn out of which the NTDC would provide $111.33 mn. Rest
of the $425 mn will be provided by World Bank for the National Transmission Modernisation (Phase-I) project
which is designed to increase the capacity and reliability of selected segments of the national transmission
system and for NTDC.
ICICI Venture has sold its ____% stake in hospital chain Krishna Institute of Medical Sciences (KIMS) to
General Atlantic for Rs 850 crore?
Answer : 30 %
Explanation:
ICICI Venture is India’s largest private equity fund. Krishna Institute of Medical Sciences is based in Hyderabad.
The stake sale to General Atlantic values KIMS at around Rs 2,700 crore. It valued at Rs 850 crore in 2014. ICICI
Venture had invested about Rs 220 crore in 2014 in KIMS. It was expecting to exit through a public offer in
2018. KIMS received the SEBI (Securities and Exchange Board of India) approval for a public offer.
On June 17, 2018, According to the FDI Report 2018 compiled by FDI Intelligence, which country has
surpassed India as the top destination to attract Greenfield FDI investment?
Answer: United States
Explanation:
In 2017, the US reclaimed the spot from India, recording USD 87.4 billion of announced Foreign Direct
Investment (FDI). The number of projects for the US was 1,627. India has been the top destination for 2015 and
2016 but the number of investments has fallen by 21% for 2017. In the Asia and Pacific region, China was on
top in terms of FDI in total number of new projects and capital investment, followed by India, as per the FDI
report. China received foreign capital investment of USD 50.8 billion in 2017 in greenfield projects, compared
to India’s USD 25.1 billion.
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On June 17, 2018, According to the data of Commerce Ministry , India had trade deficit with as many as
10 member countries out of 16 of the RCEP nations. Expand RCEP?
Answer: Regional Comprehensive Economic Partnership
Explanation:
These RCEP bloc nations include : China, South Korea and Australia. The trade gap with China, Korea, Indonesia
and Australia has increased to USD 63.12 billion; USD 11.96 billion; USD 12.47 billion and USD 10.16 billion in
2017-18. It was USD 51.11 billion, USD 8.34 billion, USD 9.94 billion and USD 8.19 billion respectively in the
previous financial year, 2016-17 . It’s same with regard to Japan, Thailand and New Zealand.
On June 17, 2018, IRDAI formed a 10 member committee to review regulations of the Insurance
marketing Firms (IMF). What does “R” represent in IRDAI?
Answer: Regulatory
Explanation:
IRDAI – Insurance Regulatory and Development Authority of India. It will be a 10 member panel that would be
revising the IRDAI( Registration of Insurance Marketing Firms) regulations 2015. The Committee consists of:
K.G.P.L. Ramadevi, GM (IMF) of IRDAI; Sourabh Bhanot, senior VP of Aviva Life Insurance; Siddharth Pradhan,
GM of New India Assurance; Amit Rathi, Senior VP of Max Life Insurance; Deepti Rastogi, senior VP of Apollo
Munich Health Insurance; Rakesh Kumar, ED of LIC; Girish Joshi, ED and ISP of iKuber Financial Services IMF
Pvt Ltd.; and Rajinder Singh, MD of JK Insurance Marketing Pvt. Ltd. IRDAI’s AM-IMF Priya Kumari would be the
member secretary.
On June 17, 2018, WhatsApp payment service has been in beta testing and almost one million people
are testing the feature. It has tied up with banks to facilitate financial transactions through UPI. What is
the full form of UPI?
Answer: Unified Payments Interface
Explanation:
It has tied up with banks to facilitate financial transactions via Unified Payments Interface (UPI). The Reserve
Bank of India has mandated all payment system operators to ensure that data related to payments is stored
only in India giving firms six months to comply with it. The compliance would be monitored by NPCI. It has
been stated that sensitive user data such as the last 6 digits of a debit card and UPI PIN is not stored at all.
On June 18, 2018, The Reserve Bank has eased investment norms for foreign portfolio investors (FPIs)
in debt, especially into individual large corporates. The RBI increased the FPIs cap on investment in
government security to what per cent of the outstanding stock of that security, from 20 per cent earlier?
Answer: 30 %
Explanation:
The RBI increased the FPIs cap on investment in government security to 30 per cent of the outstanding stock of
that security, from 20 per cent earlier. FPIs were allowed to invest in government bonds with a minimum
residual maturity of three years. FPIs are permitted to invest in Government securities (G-secs), including
treasury bills, and SDLs without any minimum residual maturity requirement, subject to the condition that
short-term investments( Investments with maturity of one year) by an FPI under either category shall not
exceed 20 per cent of the total investment of that FPI in that category.
On June 19, 2018, Under the ‘maintenance of close relative’ category of the LRS, the Reserve Bank of
India (RBI) has narrowed the definition of relatives to check the flow of funds. This is only applicable to
immediate relatives such as parents, spouses, children and their spouses. What is the full form of LRS?
Answer : Liberalised Remittance Scheme
Explanation:
This is only applicable to immediate relatives such as parents, spouses, children and their spouses. This has
been brought about by defining ‘relatives’ under the Companies Act, 2013. The central bank has made
furnishing of PAN mandatory for such transactions. RBI has introduced a system for daily reporting of
individual transactions under the LRS by banks.
On June 19, 2018, The World Bank has approved _____ loan to Bangladesh to achieve its education for all
vision by improving the primary education sector?
Explanation:
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It is the government’s Fourth Primary Education Development Program (PEDP4). It is the : The Quality
Learning for All Program (QLEAP) will cover more than 18 million children studying in pre-primary level to
grade 5. The project will build about 95,000 classrooms, teachers’ rooms, and multipurpose rooms. It will also
build 80,000 Water, Sanitation and Hygiene (WASH) blocks and 15,000 safe water sources.
On June 19, 2018, Yes Bank has received approval from market regulator Securities and Exchange
Board of India (SEBI) for acting as custodian of securities. Who is the Chairman of SEBI?
Answer : Ajay Tyagi
Explanation:
This would enable the bank to play a larger role in channelising domestic and foreign investments into Indian
financial market and would enhance bank’s current capital market offerings. The bank has taken advantage of
its global reach through its international banking team, IFSC banking unit in GIFT City and its representative
office in Abu Dhabi as a part of its strategy. It would be opening representative offices in London and Singapore
as per recent approval from the Reserve Bank of India.
The second tranche of Bharat-22 ETF opened for fresh subscription on June 19, 2018. What does “E”
represent in ETF?
Answer: Exchange
Explanation:
ETF – Exchange Traded Fund
On November 14, 2017, the government launched the BHARAT-22 exchange traded fund (ETF), which is
managed by ICICI Prudential Mutual Fund. It’s a part of the government’s disinvestment programme. ETFs are
essentially index funds that are listed and traded on stocks exchanges just like regular shares. Bharat 22
comprises 22 stocks including those of central public sector enterprises, PSU banks and holdings under the
Specified Undertaking of Unit Trust of India.
On June 19, 2018, in the first set of selection of senior bank officials, the Banks Board Bureau (BBB) has
recommended 22 candidates out of 43 from different banks for the executive director positions for
state-run banks. Name the Chairman of BBB?
Answer: Bhanu Pratap Sharma
Explanation:
This followed after Bhanu Pratap Sharma took charge at BBB replacing Vinod Rai, the former Comptroller and
Auditor General. The other member of the new BBB panel includes Vedika Bhandarkar, former managing
director (investment banking) at Credit Suisse India; P Pradeep Kumar, former managing director at State Bank
of India; and Pradip P Shah, founder managing director at Crisil. The newly formed panel has selected four
general managers (GM) of Punjab National Bank namely Manas R Biswal, Gopal Gusain, Vivek Jha and Alok
Shrivastava and three from Vijaya Bank.
On June 20, 2018, With a view to promote the Priority Sector Lending guidelines for housing loans with
the Affordable Housing Scheme, the RBI has changed the eligilibity conditions of the priority sector
lending. Previous eligibility – from 28 lakh (for metropolitan cities) has been changed to what amount?
Answer: 35 lakh
Explanation:
For economically Weaker Sections and Low Income Groups the eligibility has been changed as follows:
Previous eligibility Changed eligibility
From 28 lakh (for metropolitan cities) To 35 lakh
From 20 lakh ( for other centres) To 25 lakh
These changes are valid till the overall cost doesn’t exceed Rs. 45 lakh for metropolitan and Rs. 30 lakh for
other centres. The Existing limit of family income of Rs. 2 lakh per annum has been changed to to Rs 3 lakh per
annum for economically weaker group and Rs. 6 lakh for low income groups.
On June 20, 2018, AU Small Finance Bank announced that it has received shareholders approval to raise
Rs 1,000 crore from Singapore-based investment firm ____?
Answer: Temasek
Explanation:
On June 20, 2018, AU Small Finance Bank announced that it has received shareholders approval to raise Rs
1,000 crore from Singapore-based investment firm Temasek. AU Bank’s shareholders include IFC, Warburg
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Pincus, Chrys Capital and Kedaara Capital. This would be its first largest primary capital infusion in the bank
since its last raise in 2011-12.
On June 20, 2018, UIDAI CEO said that 18,000 centres have come up for enrolment and updation of the
biometric ID. Name the CEO of UIDAI?
Answer: Ajay Bhushan Pandey
Explanation:
They are called the ‘Bank Aadhaar Kendras’. It was after the private as well as public sector banks had to set up
Aadhaar facility in at least one out of 10 branches a year ago. 10,000 branches of private and public sector
banks have set up Aadhaar enrolment and updation centres and 8,000 such centres have come up in post
offices out of 13,000. Overall, about 26,000 centres are slated to come up at banks and post offices.
On June 21, 2018, India has hiked customs duty on 29 products, including Bengal gram, lentils and
artemia, imported from the ________.
Answer: United States
Explanation:
On June 21, 2018,The finance ministry announced that India has hiked customs duty on several goods,
including Bengal gram, lentils and artemia, imported from the US.
i. The move was against the duty hike by the US on certain steel and aluminium products which had tariff
implication of $241 million on India.
To which bank the State Bank of India’s Managing Director B Sriram was appointed as the MD and CEO
for a temporary term of 3 months on 21st June 2018?
Answer: IDBI
Explanation:
On 21st June 2018, State Bank of India’s Managing Director B Sriram was appointed as the MD and CEO of IDBI
Bank for a temporary term of 3 months.B.Sriram has been appointed in place of incumbent Mahesh Kumar Jain.
Mahesh Kumar Jain was made Deputy Governor of the Reserve Bank of India (RBI) recently.
On June 22, 2018, which bank featured at 60th rank in the BrandZ Top 100 Most Valuable Global
Brands ranking?
Answer: HDFC Bank
Explanation:
On June 22, 2018, HDFC Bank, has featured at 60th rank in the BrandZ Top 100 Most Valuable Global Brands
ranking. The brand value of HDFC Bank at $20.9 billion, up 22%. Google and Appleretained the number 1 and 2
spots in the rankings, followed by Amazon, which moved into the #3 position ahead of Microsoft.
Name the person who will be appointed as the Bank Negara Malaysia (BNM) governor for a term of five
years from July 1, 2018 till June 30, 2023?
Answer: Datuk Nor Shamsiah Mohd Yunus
Explanation:
Datuk Nor Shamsiah Mohd Yunus will be appointed as the Bank Negara Malaysia (BNM) governor for a term of
five years from July 1, 2018 till June 30, 2023. She will be appointed as the Bank Negara Malaysia (BNM)
governor for a term of five years from July 1, 2018 till June 30, 2023. She will replace Tan Sri Muhammad
Ibrahim who resigned on June 15 2018.
Who has been appointed the new Managing Director of State Bank of India till October 31, 2020?
Answer: Arijit Basu
Explanation:
On June 23,2018 The appointments committee of the cabinet has appointed Arijit Basu as the new Managing
Director of State Bank of India till October 31, 2020. He served as managing director of SBI Life Insurance. As
per the SBI Act, the bank can have four managing directors. He graduates in Economics and a Master of Arts in
History, Basu started his career with State Bank of India in 1983 as a probationary officer. He has held several
key positions in various circles of SBI including the bank’s office at Tokyo.
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Who is expected to become the next chief executive of Axis Bank after Shikha Sharma?
Answer: P S Jayakumar
Explanation:
He is a former Citibanker and the first lateral recruit into the top position at a public-sector bank. He joined BoB
on October 2015 and was heading VBHC Value Homes prior to taking charge of the lender. The other
candidates considered are deputy MD V Srinivasan and executive director Rajiv Anand. The decision would be
finalized by September 2018.
Name the person who took charge as the fourth Deputy Governor of the Reserve Bank of India (RBI), on
22ndJune 2018?
Answer: Mahesh Kumar Jain
Explanation:
Mahesh Kumar Jain was the MD & CEO of IDBI Bank before being appointed as Deputy Governor of RBI. The
government has appointed him as the Deputy Governor of the RBI for a term of three years. He succeeds SS
Mundra who retired in August 2017. Deputy Governor N.S. Vishwanathan was looking over the banking
supervision department after S.S. Mundra retired. Usually, the supervisory department is handled by the
Deputy Governor who has been a commercial banker.
On June 25, 2018, In the 3rd annual meeting of AIIB Secretary of Department of Economic Affairs Shri
Subhash Chndra Garg announced which country as the largest borrower from Asian Infrastructure
Investment Bank?
Answer: India
Explanation:
On June 25, 2018, In the 3rd annual meeting of AIIB Secretary of Department of Economic Affairs Shri Subhash
Chndra Garg announced that India is the largest borrower from Asian Infrastructure Investment Bank.
i. India has a total project portfolios of US$4.4 Billion.
About 3rd annual meeting of AIIB:
i. It is being held in Mumbai on June 25-26 2018.
ii. The third Annual Meeting of the bank focuses on infrastructure, with the theme of innovation and
collaboration.
The Asian Infrastructure Investment Bank (AIIB) is likely to invest _____ in a fund of funds set up by
India to take interest in infra projects?
Answer: USD 200 million
Explanation:
Out of the $200 million, $100 million would be given now and the rest $100 million later. This investment is for
the NIIF ( National Investments & Infrastructure Fund). There will be a leverage of 10-12 times on the original
investment, which can result in up to USD 2.4 billion flowing into infrastructure projects.
On June 22, 2018, cooperative bank SVC Bank announced that it has implemented _____, a system to offer
digitized customer services and facilitation?
Answer: Digital Hexa
Explanation:
On June 22, 2018, cooperative bank SVC Bank announced that it has implemented Digital Hexa. It is a system to
offer digitized customer services and facilitation. Customers will now be able to avail digital services including
debit cards, net banking, IMPS, NEFT/RTGS, mobile app and UPI.
BSE is to launch a platform to make stock market listing attractive for startups. It will be launched at its
SME (small and medium enterprise) segment. To be listed, a company needs to have a pre-issue paid up
equity share capital of a minimum of _____?
Answer: Rs 1 crore
Explanation:
It will facilitate the listing of companies in sectors like IT, ITES, bio-technology and life sciences, 3D printing,
space technology and e-commerce. It will aid in listing of companies from hi-tech defence, drones, nano
technologies, artificial intelligence, big data, virtual reality, e-gaming, robotics, genetic engineering, among
other sectors.
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On June 25, 2018, Ministry of Electronics and Information Technology (MeitY) has announced that it is
testing a new credit rating model for assisting the banks especially rural and cooperative banks to
tackle the issue of NPAs. What does “P” represent in NPA?
Answer: Performing
Explanation:
The MeitY sponsored project includes Reserve Bank of India (RBI), Bangalore-based IT firm Processware
System and two cooperative banks as partners. This project will help in assessing credit risk and probability of
fraud using big data analysis. It will help banks quantify risks associated with retail loans such as personal
loans, gold loans and vehicle loans. This is beign done with the help of a statistical and machine learning
algorithm model to calculate the probability of default.
On June 26, 2018, RBI has proposed to set up a board of management for the urban co-operative banks.
The guidelines have been recommended by committee headed by former deputy governor of RBI _____?
Answer: R Gandhi
Explanation:
The board should have well qualified members who do not have any business relation with the bank.
Regulatory approvals such as expansion of area of operation and opening of new branches may be allowed only
for UCBs that have made such a provision in their law. The board of management may be appointed by the
board of directors whose term end at the same time as the board of directors. RBI shall have powers to remove
any member of BoM and/ or the CEO if the person is found to be not meeting the eligibility criteria prescribed
by RBI.
On June 22,2018, Bajaj Finance overtook Axis Bank in market capitalization ranking according to BSE.
Bajaj Finance stood at which position in overall market-cap ranking in 2018?
Answer: 18
Explanation:
On June 22,2018, Bajaj Finance overtook Axis Bank in market capitalization ranking according to BSE. It was a
surge of 3%. The m-cap of Bajaj Finance was of Rs 1,345.85 billion. Bajaj Finance has outperformed the market
by surging 33% as compared to 4% rise in the S&P BSE Sensex. Bajaj Finance stood at number 18 position in
overall market-cap ranking climbing 11 places in 2018. Other companies it surpassed was : Power Grid
Corporation, Asian Paints, Bharat Petroleum Corporation, UltraTech Cement, Vedanta, HCL Technologies, Tata
Motors, Hindustan Zinc, Sun Pharmaceutical Industries and Wipro during the period.
Who has been appointed the new chairman of the Central Board of Indirect Taxes and Customs (CBIC)?
Answer: S Ramesh
Explanation:
S Ramesh will replace Vanaja N Sarna. Vanaja N Sarna will superannuates on 30th June 2018. S Ramesh is a
1981 batch officer of the Indian Revenue Service (Customs and Central Excise). He is currently a member in the
board of CBIC. He has been made the chairman of CBIC with the status of special secretary to the central
government. Raj Kumar Barthwa, a Senior IRS (Customs and Central Excise) officer, has been named as new
member in the CBIC in place of S Ramesh.
On June 27, 2018, The Export-Import Bank of India (Exim Bank) announced that it has extended _____
worth of line of credit (LOC) to Seychelles?
Answer: $10 million
Explanation:
On June 27, 2018, The Export-Import Bank of India (Exim Bank) announced that it has extended $10 million
worth of line of credit (LOC) toSeychelles. This is for healthcare and procurement of goods and projects. It is the
first tranche of the $50 million sanctioned by the Exim Bank to the country. With this agreement for $10
million, Exim Bank, till date, has extended two LOCs to Seychelles, taking the total value to $28 million.
Name the person who has been appointed the new whole-time member of the Securities and Exchange
Board of India (SEBI)?
Answer: Anant Barua
Explanation:
Anant Barua is currently the executive director in SEBI. He has been appointed as whole-time member of SEBI
for 3 years. His pay is as admissible to additional secretary to the central government or a consolidated salary
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of Rs 4 lakh per month. He became the executive director of SEBI in May 2010. Earlier, he was legal adviser,
Legal Affairs Department (LAD), SEBI. He started working with LAD from 1992.
SBI managing director ____ has resigned as SBI MD after his appointment as chief executive of IDBI
Bank?
Answer: B Sriram
Explanation:
B Sriram was appointed as managing director and CEO of IDBI Bank for a temporary period of 3 months,
recently. He has submitted his resignation from the board of SBI. His resignation has been forwarded to
Appointments Committee of the Cabinet (ACC). ACC will take the final decision on this. B Sriram assumed
charge as MD and CEO of IDBI Bank on 22nd June 2018 after M K Jain left the bank to serve as Deputy Governor
of RBI. LIC is trying to enter the banking sector by acquiring majority stake in IDBI Bank. IDBI Bank would
become a private sector bank if the government’s share reduces below 50%.
JPMorgan has promoted ____ , CEO and MD, JPMorgan Chase Bank in India, as the head of corporate
banking in South and South East Asia?
Answer: Madhav Kalyan
Explanation:
Madhav Kalyan will hold this position in addition to his existing responsibilities as head of corporate banking in
India. JPMorgan’s corporate banking heads in Malaysia, Thailand, the Philippines, Indonesia, Vietnam,
Bangladesh and Sri Lanka will report to Madhav Kalyan. JP Morgan has promoted P D Singh as the head of the
team, which serves local corporate clients. Rohit Khatri will head the MNC (Multinational) clients’ division.
Guhaprasath Rajagopal will head treasury services.
On June 28, 2018, which bank fully acquired Mumbai-based financial product distribution firm
Swadhaar FinServe Pvt Ltd from their earlier holding of 60.49%?
Answer: RBL Bank
Explanation:
It started operations as a non-banking finance company in 2008 and subsequently converted into a NBFC-MFI.
It became a business correspondent for RBL Bank in 2014 and transferred its micro credit portfolio to the bank.
It then surrendered the NBFC license in 2015. It holds responsibility for sourcing clients, evaluating credit
worthiness and monitoring repayments for RBL, leveraging the bank’s balance sheet and infrastructure.
On June 29, 2018, The Insolvency and Bankruptcy Board of India (IBBI) announced that which country
has won Global Restructuring Review’s “most improved jurisdiction” award?
Answer: India
Explanation:
On June 29, 2018, The Insolvency and Bankruptcy Board of India (IBBI) announced that India has won Global
Restructuring Review’s “most improved jurisdiction” award. This award is to honour the jurisdiction which
improved its restructuring and insolvency regime the most over the last year. In 2017, India lost the title to
Singapore.
On 29th June 2018, ICICI Bank said that, it has appointed ____ as the company’s non-executive chairman?
Answer: Girish Chandra Chaturvedi
Explanation:
G C Chaturvedi is a former petroleum secretary. Incumbent non-executive chairman M K Sharma’s term ends on
30th June 2018. G C Chaturvedi’s appointment is effective from 1st July 2018 for a period of 3 years. His
appointment is subject to the approval of shareholders.
On 28th June 2018, ICICI Bank said that, it has appointed _____ as statutory auditors of the bank?
Answer: Walker Chandiok & Co
Explanation:
B S R & Co LLP, Chartered Accountants, the statutory auditors of ICICI bank for the last 4 consecutive years will
retire at the conclusion of the 24th Annual General Meeting on completion of maximum period of 4 consecutive
years as per RBI guidelines. ICICI board approved the appointment of Walker Chandiok & Co LLP as statutory
auditors for the year ending 31 March 2019, at a board meeting held on 27th June 2018. Walker Chandiok & Co
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LLP will hold office from the conclusion of the 24th annual general meeting to the conclusion of the 25th annual
general meeting. This appointment has been approved by RBI. It is subject to the approval of shareholders.
On June 30, 2018, The Multi Commodity Exchange of India LTd. (MCX) signed a MoU with which state
government to create a value chain with final market linkages for thousands of cotton farmers?
Answer: Maharashtra
Explanation:
The agreement for the ‘Cotton Mission’ was signed by MCX MD and CEO Mrugank Paranjape and Additional
Chief Secretary-Agriculture and Marketing Bijay Kumar in the presence of Chief Minister Devendra Fadnavis.
Partners of the MCX in this project are: Agriculture department, Farmer Producer Organisations. They will
connect to MCX’s organised market network for capacity building. Under this mission, MCX already has
accredited warehouses in Yavatmal and Jalna and plans to provide delivery facilities in three or more new
locations. Special emphasis will be given to farmers’ training, education and awareness so that they can plan
and produce quality and marketable crops.
On June 6, 2018, Bank of Baroda increased its Marginal Cost-Based Lending Rate (MCLR) by how many
basis points?
Answer : 5
Explanation:
Tenure Earlier (in %) After June 7 ,2018 (in %)
Over night 7.90 7.95
One Month 7.95 8.00
Three Months 8.05 8.10
Six Months 8.25 8.30
One Year 8.40 8.45
On June 6, 2018, World Bank predicts India’s GDP growth to be ____% for FY19 and ____ % for FY20?
Answer: 7.3, 7.5
Explanation:
India is expected to grow by 7.3% in FY19 and 7.5% in FY20. This was released in World Bank’s ‘Global
Economic Prospect’ report.. China is expected to slow down slightly from 6.9 per cent in 2017 to 6.5 per cent in
2018, 6.3 per cent in 2019 and 6.2 per cent in 2020. South Asia is predicted to grow by 6.9% in 2018 and 7.1%
in 2019.
On June 7, 2018, RBI has announced the formation of Public Credit Registry based on the
recommendation of a committee headed by ____ that was submitted in April 2018 to maintain database
of defaulters and to curb bad loans?
Answer : Y M Deosthalee
Explanation:
It would be an information repository containing all the details of the loans by the individual and corporate
borrowers. It would help banks differentiate between good and bad loans thereby providing attractive interest
rates to the borrowers of good loans and highest interest to the bad loans. For addressing the challenges of the
bad loans, the corporate borrowers of bad loans would be prohibited to take further loans from different
banking institutions. The registry should also have data regarding the External commercial borrowings, market
borrowings and any liabilities to assess the debt of the borrower.
On June 7, 2018, RBI on its bimonthly monetary policy has raised the interest rate by 25 basis points or
0.25%. Thus the Repo rate has been raised to ____%?
Answer: 6.25
Explanation:
This in turn increased the lending rate of several banks in EMIs and loans for auto, home and business loans.
Earlier banks like SBI, ICICI, Kotak Mahindra , HDFC , PNB have raised their interest rates by an average of 10
basis points before the RBI bi monthly policy. After the announcement of the RBI, other banks have also
increased their MCLR. They are: Indian Bank and Karur Vyasa Bank by 10 basis points, Bank of Maharashtra
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will increase as well. The retail inflation has been predicted to be 4.8-4.9% in the first half and 4.7% for the
second half.
On June 6, 2018, the Financial Conduct Authority (FCA) of UK has fined The UK arm of which Indian
public sector bank 896,000 pounds or $1.2million for systematic Anti-Money Laundering failures?
Answer: Canara Bank
Explanation:
On June 6, 2018, Market Regulator of UK, The Financial Conduct Authority (FCA) has fined The UK arm of
Indian public sector bank Canara Bank896,000 pounds or $1.2million for systematic Anti-Money Laundering
failures. The FCA has blocked it from accepting new deposits for around five months. This was done
after warnings were imposed since 2012.
On June 6, 2018, RBI has given approval to the Urban Co-operative banks to act as small finance banks.
This move was recommended by the High Powered Committee on Urban Cooperative Banks (UCB)
chaired by ____?
Answer: R. Gandhi
Explanation:
On June 6, 2018, RBI has given approval to the Urban Co-operative banks to act as small finance banks. This
decision has been taken to given larger and freer access to the market for the Co-operative banks as they are
local in nature. This move was recommended by the High Powered Committee on Urban Cooperative Banks
(UCB) chaired by Mr. R. Gandhi. This would enable voluntary conversion of large Multi -State UCBs into Joint
Stock Companies and other UCBs which meet certain criteria into Small Finance Banks (SFBs).
On June 9, 2018, SBI invested Rs. 35 billion a year for digital collaboration with ____ for its 420 million
customers?
Answer: Google
Explanation:
Tez, a platform for fund transfers to bank, with UPI enabled banks, using UPI's platform has been launched by
Google with SBI. Other digital project of SBI include : Transformation of 100 selected villages into digital
centres. To encourage migration of citizens to Any Time Channels through digital channels like PoS, ATMs,
Micro ATMs, Mobile Banking, Internet Banking, etc. Launch of YONO app first in many respect globally has 6.5
million downloads already in last six months of operations. Featuring banking, e-commerce and financial
superstore experience on a single platform.
On June 10, 2018, World Bank Pension Trust has recently invested in ____ and has purchased a large
chunk of its equity that is supported by the Gujarat Government?
Answer: Gujarat Narmada Valley Fertilizers and Chemicals (GNFC)
Explanation:
Since the trust is for the pensioners of World Bank they have invested in fixed income securities. GNFC has
topped the D&B’s rankings among all the Gujarat government owned companies. GNFC is ranked at 129th
position, jumping 83 places, compared to last year's 212th rank. Of all these 17 chemical companies, GNFC is
the third best chemical company of India.
On June 10, 2018, 19 public sector banks suffered a cumulative loss of Rs. 873.57 billion. Which bank
ranks at the top of the list with a net loss of Rs. 122.83 bn?
Answer: Punjab National Bank
Explanation:
Out of the 21 PSBs only Vijaya Bank and Indian Bank gained profits of Rs.7.27 bn and Rs.12.58bn respectively .
In 2016-17 , all of the 21 banks gained a profit of Rs.4.73 bn. PNB was followed by IDBI Bank, whose net loss
widened to Rs 82.37 bn in March 2018 from Rs 51.58 bn in 2017.. SBI's net loss in 2017-18 stood at Rs 65.47 bn
as against a net profit of Rs 104.84 bn in 2016-17.
On June 11, 2018, The AIBEA requested RBI governor Dr. Urjit Patel to revoke lending restrictions
imposed on Dena Bank by RBI. Expand AIBEA?
Answer: All India Bank Employees Association
Explanation:
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The restrictions are a result of the growing NPAs for which Dena Bank was inducted into the Prompt Corrective
Action (PCA ) framework. According to the PCA framework Dena Bank is restricted to give fresh credits and
conducting hiring. The gross NPAs or bad loans rose to Rs 16,361.44 crore from Rs 12,618.73 crore. Net NPAs
were also up at 11.95 per cent (Rs 7,838.78 crore) from 10.66 per cent (Rs 7,735.12 crore).
On June 12, 2018, RBI tightened the norms to improve monetary transmission by proposing a
minimum of 40% loan amount for the working capital of large lending borrowers having funding of ____
and above?
Answer: Rs.150 crore
Explanation:
The loan component would come into effect from October 2018 and would be increased to 60% from April
2019. The tenure of the loan would be a minimum of 7 days. The loan component will have a repayment
schedule. The capital is paid mostly in cash credit / overdraft etc.
On June 13, 2018, Punjab National Bank (PNB) has announced that it is considering ESOP scheme. What
is the full form of ESOP?
Answer: Employee Stock Purchase
Explanation:
This would retaining its talent and incentivizing staff by issuing up to 100 million equity shares. Allahabad
Bank and United Bank earlier in December had announced to offer their employee stock option scheme. Both
the banks will offer 50 million ordinary shares to their staff. The proceeds from share sale will be used to raise
the badly needed core capital of the bank .
Fitch, a Ratings agency, has reduced viability ratings of Bank of Baroda to ____, as per its release on
13th June2018?
Answer: bb
Explanation:
Fitch has stated that, the banks had a weakened risk profile because of poor asset quality and the vulnerability
of their capital buffers to moderate shocks. Fitch said that, 11 banks reported common equity Tier 1 ratios that
were short of the 8% requirement for Basel III’s final phase of capital migration. Fitch has a ‘negative’ sector
outlook on Indian banks. It said that, internal capital generation is expected to remain weak. But still many
state banks should be able to recover from losses in FY19. It said that sector NPL ratios are near to what it is
believed to be full recognition of legacy problems and provision cover has enhanced.
On June 15, 2018, Jammu & Kashmir Bank will raise up to ____ by issuing bonds in one or more tranches
under Basel III to boost capital by March 31,2019?
Explanation:
They are Basel III compliant tier II bondsface value of Rs 10 lakh each aggregating up to Rs1,000 crore in one or
multiple tranches . These capital regulations would be fully implemented by March 31, 2019. The Basel III
capital regulations were implemented in India with effect from April 1, 2013. Banks have to comply with the
regulatory limits and minima as prescribed under Basel III capital regulations, on an ongoing basis.
On June 16, 2018, Karur Vysya Bank tied up with ____ for easy two step health insurance solution?
Answer: Max Bupa
Explanation:
This MOU would give the customers of the bank access to health related insurance products with the help of
KVB’s simplified technology like Max Bupa AnyTimeHealth (ATH) and SARAL. Max Bupa’s unique Any Time
Health Machine, an intelligent kiosk that will screen the health status of the clients and give an automated
health assessment and issue customized health insurance options instantaneously. And with the help of Core
banking facility it would be possible to do so within a few minutes.
South Indian Bank plans to raise up to _____ through a mix of equity and debt instruments to meet its
business needs?
Answer: Rs 520 crore
Explanation:
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Out of Rs.520 crore , Rs 20 crore will be raised through equity capital and Rs 500 crore will be mopped up
through bonds. This would include borrowing/raising funds in Indian/foreign currency. Earlier the bank had
raised Rs 490 crore by way of issuance of bonds till March 31, 2018 after approval from shareholders. A
banking company requires adequate capital not only to meet the needs of growing business, but also to meet
the applicable regulatory requirements. As business grows, capital requires to be strengthened.
On June 19, 2018, Britain's Clydesdale Yorkshire Banking Group said it had bought Richard Branson's
____ for 1.7 billion pounds?
Answer: Virgin Money
Explanation:
It is an all-shares deal, worth the equivalent of USD 2.3 billion or 1.9 billion euros where Virgin Money will be
taken over over the next three years. CYBG investors will hold a majority 62 per cent stake with Virgin Money
shareholders the rest. The new group, offering retail services like home loans, savings accounts and credit
cards, brings together two so-called "challenger" or smaller banks with a combined customer base of 6.1
million people.
On June 19, 2018, which country became the 69th member of the European Bank for Reconstruction and
Development (EBRD)?
Answer: India
Explanation:
The EBRD would be holding an inaugural conference in India’s honour. This conference would have a theme of :
‘Mobilising private sector finance in the EBRD region and how Indian companies can benefit'scheduled to be
held in Mumbai. It would be organized by The Federation of Indian Chambers of Commerce and Industry
(FICCI) partnered event is backed by the Export-Import Bank of India (EXIM). The advantage of membership is
that Indian companies and the Indian government immediately get free access to all of EBRD's knowledge -
political, commercial, market and economic knowledge.
On June 22, 2018, to strengthen the Insolvency and Bankruptcy Code, the government released a draft
on cross-border insolvency that would help banks access overseas assets of a company undergoing
resolution. It will be according to the UNCITRAL model. Expand UNCITRAL?
Answer: United Nations Commission on International Trade Laws
Explanation:
It will be according to the UNCITRAL (United Nations Commission on International Trade Laws) model on
dealing with cross-border insolvency. According to the law , the central government after entering into
agreement with other countries and bring overseas asset of a domestic corporate debtor into consideration.
Due to the inadequacy of two Sections –234 and 235 of IBC , of having only the government the access to the
information now due to the law it can be accessed by banks as well. Initially the cross border insolvency
framework will apply only to corporate debtors, it can be extended to cases of personal insolvency resolution
as well.
On June 22, 2018, Microfinance Institutions Network (MFIN) & Microfinance lenders including private
banks such as Axis Bank, IndusInd Bank and RBL Bank have raised their cumulative microloan cap per
borrower by 33 percent to _____ up from Rs 60000 under the joint liability group model?
Answer: Rs 80000
Explanation:
The microfinance industry’s total loan portfolio grew 27% in FY18 to Rs 1.37 lakh crore while industrial credit
rose just about 1%. The lenders are expecting growth to further rise to about 50%. This change has been
prompted by strong demand in rural India and rise in self-employment amid poor industrial demand.
On June 22, 2018, cooperative bank SVC Bank announced that it has implemented _____, a system to offer
digitized customer services and facilitation?
Answer: Digital Hexa
Explanation:
On June 22, 2018, cooperative bank SVC Bank announced that it has implemented Digital Hexa. It is a system to
offer digitized customer services and facilitation. Customers will now be able to avail digital services including
debit cards, net banking, IMPS, NEFT/RTGS, mobile app and UPI.
61 | P a g e
On June 26, 2018, DBS Bank, _____ ’s largest lender by assets, expects to become the first foreign lender to open a
local unit in India byOctober 2018 after RBI’s approval?
Answer: Singapore
Explanation:
On June 26, 2018, DBS Bank, Singapore’s largest lender by assets, expects to become the first foreign lender to open a local
unit in India byOctober 2018 after RBI’s approval. This would fold all its 12 branches into a newly registered subsidiary
called DBS Bank India Ltd. It plans to expand to at least 50 branches and 70 banking outlets, challenging the likes of
Standard Chartered, Citibank and HSBC. DBS along and another lender, State Bank of Mauritius (SBM) had applied to start
a new subsidiary in the country in 2015.
On June 27, 2018, Allahabad Bank has sought _____ from the government, which is 78% of its annual capital
requirement for infusion?
Explanation:
The lender has been under RBI’s PCA (Prompt Corrective Action ) Framework from January and has high NPA ratio and
negative return on assets (ROA). Its gross non-performing assets ratio was 15.96% at the end of March, while net NPA
ratio was 8.04%. ROA was a negative 5.77%. It has as many as 94 NPA accounts involving Rs 12,000 crore to National
Company Law Tribunal under Bankruptcy Code. These accounts accounted for nearly 45% bank's gross non-performing
assets. Therefore, in order to recover close to Rs 5,500 crore from its stressed assets it aims to raise Rs 3,000 crore from
resolution of cases under Insolvency and Bankruptcy Code, close to Rs 500 crore from sale to asset reconstruction
companies and another Rs 2,000 crore through other recovery options.
On June 28, 2018, which mutual fund firm received SEBI’s nod for Initial Public Offering (IPO)?
Answer: HDFC Asset Management Company
Explanation:
On June 28, 2018, the country's largest mutual fund firm HDFC Asset Management Company has received SEBI’s nod for
Initial Public Offering (IPO). The proposed IPO offers up to 2.54 crore equity shares of the fund house through an offer for
sale of 85.92 lakh shares by HDFC and up to 1.68 crore shares by Standard Life. The offer comprises a net offer to public of
up to 2.21 crore equity shares, a reservation of up to 3.20 lakh shares for purchase by eligible HDFC AMC employees.
Nomura Financial Advisory and Securities (India), Kotak Mahindra Capital, Axis Capital, BofA Merrill Lynch, Citigroup
Global Markets India, CLSA India, HDFC Bank, ICICI Securities, IIFL Holdings, JM Financial, JP Morgan India, Morgan Stanley
India are the book running lead managers to the issue.
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Awareness Questions 2018

General Awarness is playing an important key role in

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Banking/Economy Awareness Questions - May 2018

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To develop an innovative biopharmaceutical and medical devices industry in India, Government of

Answer: World Bank

9 France $6,649 billion

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____ has been appointed as the chairperson of Central Bank of India?

Answer: Madhya Pradesh

Banking/Economy Awareness Questions - June 2018

One – Month 10 8.20

Three months 10 8.30

Six months 10 8.45

One year 10 8.50

One Month 8.05

Three Months 8.25

Six Months 8.40

One Year 8.55

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