2017-Quiz-4: Finance, Business & Economy for Banking Examinations

1. Recently, the government of India has relaxed the norms for withdrawal of General Provident Fund (GPF). As per the new norms, the employees can withdraw the funds for select purposes after completing how many years in service?

[A] 5 years
[B] 8 years
[C] 10 years
[D] 12 years

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2. The GST council has decided a four tier structure of taxation to cover most goods and services. Which of the following is a correct group of these four tiers?

[A] 5%, 10%, 15% and 20%
[B] 5%, 12%, 18% and 22%
[C] 5%, 12%, 18% and 28%
[D] 5%, 13%, 18% and 32%

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3. Which of the following is main objective of Aadhaar Pay?

[A] To enable peer-to-peer money transaction
[B] To enable merchants to receive digital payments using Aadhaar
[C] To integrate UPI with Aadhaar
[D] To link Jan-Dhan Accounts with Aadhaar number

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4. Currently, Aadhaar is NOT being used in India for which of the following purposes?

[A] Identification of beneficiaries under pension schemes and Jan-dhan Programme
[B] Taxation
[C] Identification of MGNREGA beneficiaries
[D] Identification of mid-day meal programme at schools

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5. The term discovered small field (DSF), which was recently making news is related to which of the following ?

[A] Petroleum Sector
[B] Nuclear Minerals
[C] Quantum Science
[D] None of them

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6. Currently, which of the following states in India generates maximum Hazardous Waste?

[A] Gujarat
[B] Tamil Nadu
[C] Maharashtra
[D] Haryana

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7. Which of the following is the main objective of Insolvency Professional Entity?

[A] To implement bankruptcy law under The Insolvency and Bankruptcy Code, 2016
[B] To facilitate speedy recoveries of high value loan defaults
[C] To identify the insolvent individuals
[D] All of above

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8. Shankar-6 or Sankar-6 is a variety of which of the following commodities?

[A] Mustard
[B] Cotton
[C] Groundnut
[D] Soyabean

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9. What is the current Fund transaction limit under Unified Payments Interface (UPI)?

[A] Rs. 50,000
[B] Rs. 100,000
[C] Rs. 200,000
[D] Rs. 20,000

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10. Approximately what fraction of India’s total edible oil demand is met through imports?

[A] 20%
[B] 30%
[C] 50%
[D] 60%

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