Quiz 561: Economic Current Affairs for Bank PO Exams

1. Recently, Jean- Claude Trichet said that governments should consider setting up a finance ministry for the 17-nation currency region (Eurozone) as the bloc struggles to contain a region-wide sovereign debt crisis. Jean- Claude Trichet is related to which among the following organizations?
[A]World Bank
[B]International Monetary Fund
[C]European Central Bank
[D]Bank of England


2. Which among the following treaty founded the Euro Currency?
[A]Maastricht Treaty
[B]Merger Treaty
[C]Amsterdam Treaty
[D]Lisbon Treaty


3. Who among the following is the new chairman of the National Bank for Agriculture and Rural Development (Nabard)?
[A]Umesh Chandra Sarangi
[B]Prakash Bakshi
[C]H R Khan
[D]R K Singh


4. The Reserve Bank of India has introduced a new facility recently, via which the banks can dip below 1% of their statutory liquidity ratio to avail cash from this window. What is the name of this new facility?
[A]Liquidity Adjustment Facility
[B]Marginal Adjustment Facility
[C]Marginal Standing Facility
[D]Cash Adjustment Facility


5. Recently we read in the newspapers that Insurance Regulatory and Development Authority (Irda) is coming up with guidelines for “monoline” insurance agents. Who are these monoline insurance agents?
[A]The agents who will be authorized to sell only one simple insurance product.
[B]The agents who will be authorized to sell many insurance products belonging to one sector
[C]The agents who will be authorized to sell only insurance policies to one particular company
[D]The agents who are also Business Correspondents.


6. A Banking Ombudsman will not entertain Credit Card complaints which are more than _______old.
[A]3 months
[B]6 months
[C]9 Months
[D]12 Months


7. Who among the following will head the Financial Stability and Development Council (FSDC), once it is set up?
[A]Prime Minister
[B]Minister of Finance
[C]RBI Governor
[D]Independent Chairman appointed by Cabinet Committee on Economic Affairs


8. What is the number of Federal Reserve Districts in the Federal Reserve System of United States?
[A]12
[B]16
[C]22
[D]26


9. The term Rose Revolution refers to the change of power in recent times in which among the following countries?
[A]Croatia
[B]Syria
[C]Georgia
[D] Kyrgyzstan


Explanation
10. Consider the following crops:
1. Soyabean
2. Sesame
3. Pumpkin
4. Cotton
Which among the following is the correct set of crop seasons in which the above are grown?
[A]Kharif, Rabi,Zaid, Kharif
[B]Rabi, Kharif, Zaid, Kharif
[C]Rabi, Zaid, Zaid, Rabi
[D]Kharif, Kharif , Zaid, Rabi


11. Rama's Bridge or Rama Setu is located in which among the following straits?
[A]Bering Strait
[B]Palk Strait
[C]Cook strait
[D]Strait of Tebrau


12. Which among the following is the basic territorial unit of Administration in India?
[A]Revenue Division
[B]Tehsil
[C]District
[D]Village


13. The competitive devaluation by the countries would badly affect which among the following?
[A]Exporters
[B]Importers
[C]Traders
[D]Service Providers


Explanation
14. If a person is not satisfied with the decision passed by the Banking Ombudsman, he/ she can approach the appellate authority against the Banking Ombudsmen’s decision. The Appellate Authority is vested in which among the following?
[A]Managing Director of the Concerned Bank
[B]Governor of Reserve Bank of India
[C]Deputy Governor of Reserve Bank of India
[D]High Court of the state in which Bank Branch is located


15. The term "round tripping" in case of Foreign Direct Investments is related to which among the following?
[A]Use of FDI Funds out of Country
[B]Coming Back of Domestic Money as FDI
[C]Sending Back of Domestic Money as FDI
[D]Repatriation of the FDI made abroad


Explanation