Quiz 81 : Economical Current Affairs for Bank PO Exam

1. We read in the newspapers that Reserve Bank of India works for the State Governments as a banker as per agreement signed between RBI and these state Governments. At present, which among the following is the ONLY state in India, which has not yet signed any such agreement with RBI?
[A]Manipur
[B]Sikkim
[C]Jammu & Kashmir
[D]Kerala


2. The OLTAS system is related to which among the following?
[A]Reserve Bank of India
[B]Department of Telecommunication
[C]Income Tax Department
[D]Ministry of Corporate Affairs


Explanation
3. Consider the following currency notes:
1. Rs. 10
2. Rs. 5
3. Rs. 2
4. Rs. 1
At present, which among the above are being printed ?
[A]1
[B]1 2
[C]1 2 3
[D]1 2 3 4


Explanation
4. Which among the following is the Highest denomination, RBI can issue a note of ___?
[A]Rs. 1000
[B]Rs. 5000
[C]Rs. 10,000
[D]Rs. 50,000


Explanation
5. Which among the following state of India is best known for Saffron Cultivation?
[A]Sikkim
[B]Assam
[C]Jammu & Kashmir
[D]Meghalaya


6. Centurion Bank of Punjab was taken over by which among the following banks?
[A]ICICI
[B]IDBI
[C]HDFC
[D]SBI


7. Kutir Jyoti scheme is related to which among the following?
[A]Rural Housing
[B]Rural Electrification
[C]Rural Education
[D]Rural Industries


8. Which among the following is the economy growth target for 12th Five Year Plan?
[A]8%
[B]9%
[C]9.5%
[D]10%


9. Consider the following:
1. Growth rate of the economy
2. Replacement demand
3. Reserve stock requirements
4. Budget Allocations to various department
Which among the above are used by RBI to estimate the demand for banknotes?
[A]1 & 2
[B]1, 2 & 3
[C]2 & 3
[D]1, 2 & 4


10. Consider the following:
1. Currency Printing
2. Exchange of soiled Currency notes
3. Currency Distribution
Which among the above are the functions of "Currency Chests"?
[A]Only 1
[B]1 & 2
[C]2 & 3
[D]Only 3


11. Consider the following:
1. Foreign Currency (Non-Resident) Account (Banks) Scheme [FCNR (B) Account
2. Non-Resident (External) Rupee Account Scheme [NRE Account]
3. Non-Resident Ordinary Rupee Account Scheme [NRO Account]
The individuals or entities of Bangladesh/ Pakistan nationality/ ownership can open which among the above accounts?
[A]None
[B]1 & 2
[C]2 & 3
[D]1, 2 & 3


12. Consider the following:
1. Foreign Currency (Non-Resident) Account (Banks) Scheme [FCNR (B) Account
2. Non-Resident (External) Rupee Account Scheme [NRE Account]
3. Non-Resident Ordinary Rupee Account Scheme [NRO Account]
Which among the above are denominated in Indian Rupees?
[A]1 & 2
[B]2 & 3
[C]1, 2 & 3
[D]1 & 3


13. EEFC is an account maintained in foreign currency with an Authorized Dealer i.e. a bank dealing in foreign exchange. It is a facility provided to the foreign exchange earners, including exporters, to credit 100 per cent of their foreign exchange earnings to the account. This helps them in
1. Earn Interest on deposits
2. Minimize transaction costs
3. Save taxes
Which among the above are correct?
[A]Only 1
[B]Only 1 & 2
[C]1, 2 & 3
[D]Only 2


14. Consider the following statements about a Non-Banking Financial Company (NBFC):
1. An NBFC cannot accept demand deposits;
2. An NBFC is not a part of the payment and settlement system
3. An NBFC cannot issue cheques drawn on itself
4. Deposit insurance facility of Deposit Insurance and Credit Guarantee Corporation is not available for NBFC depositors
Which among the above is/ are correct statements?
[A]1
[B]1 2
[C]1 2 3
[D]1 2 3 4


15. Which among the following country tops in FDI in India?
[A]United States
[B]UAE
[C]Mauritius
[D]Australia