Quiz 537: Finance Business and Economy Current Affairs for Bank PO

1. Consider the following statements in context with Bancassurance in India:
1. Currently, a bank can tie up with only one life insurer and a general insurer to sell insurance products to its customers.
2. There has been a demand, that banks should be able to tie up with more partners.
Which among the above statements is/ are correct?
(A)Only 1 is correct
(B)Only 2 is correct
(C)Both 1 & 2 are correct
(D)Neither 1 nor 2 is correct


2. Consider the following:
1. Magnetic Strip Card
2. Chip Card
Which among the above work on the basis of EMV Technology?
(A)Only 1
(B)Only 2
(C)Both 1 & 2
(D)Neither 1 nor 2


3. What is the impact on the “Social overhead capital requirements” of an economy, if the population increases?
(A)Social overhead capital requirements fall
(B)Social overhead capital requirements remain unchanged
(C)Social overhead capital requirements increase
(D)Social overhead capital requirements fall drastically


4. Consider the following:
1. Discount Rate
2. Government Spending
3. Reserve Requirements
4. Open Market Operations
Which among the above are considered to be major instruments of monetary policy for regulating the economy ?
(A)1, 2, 3 & 4
(B)1, 2, 3
(C)1,3, 4
(D)1, 2, 4


5. Consider the following:
1. Road and Railways
2. Schools
3. Sanitary Facilities
4. Hospitals
Which among the above are considered to be the Economic Overheads?
(A)Only 1
(B)1 & 2
(C)1, 2 & 3
(D)1, 2 , 3 & 4


6. Which among the following RBI Deputy Governors is heading a committee which was set up to review the National Small Savings Fund (NSSF) and recommended discontinuation of Kisan Vikas Patras (KVPs) and introduction of a 10-year National Saving Certificate (NSC) scheme?
(A)K C Chakrabarty
(B)Subir Gokarn
(C)Anand Sinha
(D)Shaymla Gopinath


7. Many a times, we read in the newspapers about a term “contra funds”. Which among the following is a correct statement about the contra funds?
(A)Contra funds are likely to perform well in the long run, but not in the short term
(B)Contra funds are likely to perform well in the short run, but not in the long term
(C)Contra funds are come with a guaranteed return and issued as a contract
(D)Contra funds are those funds in which ONLY corporate investors are allowed to invest


8. Consider the following statements:
1. Gilt Funds are mutual fund schemes that invest in government securities (G-Secs), issued by the Reserve Bank of India on behalf of the government.
2. Gilt Funds are completely Risk Free and they do not expose investors to ANY kind of risk
Which among the above statements is/ are correct?
(A)Only 1 is correct
(B)Only 2 is correct
(C)Both 1 & 2 are correct
(D)Neither 1 nor 2 is correct


9. Recently , we read in the newspapers that Floating rate term deposits (FRDs), which are a variant of the fixed deposits offered by banks, have been now launched in India. Which among the following was the first bank that launched the FRDs in India (in September 2010)?
(A)State Bank of India
(B)ICICI Bank
(C)HDFC Bank
(D)Bank of India


10. Which among the following regulates the opening of bank accounts overseas by Indian residents and for outward or inward remission of funds through authorized channels?
(A)Ministry of External Affairs
(B)Ministry of Finance
(C)Ministry of Overseas Indians
(D)Reserve Bank of India


11. The General Anti Avoidance and Thin Capitalization Rules to combat illicit transfer of money and assets abroad through complex financial arrangements and instruments, have been incorporated as a part of which among the following?
(A)Foreign Exchange Management Act, 1999 (FEMA)
(B)Prevention of Money Laundering Act, 2002 (PMLA)
(C)Direct Taxes Code Bill
(D)Income tax Act 1961


12. In context with the fight with the menace of Tax Evasion, how many countries have started the “Peer Review Group” under the Global Forum for Transparency and Exchange of Information for Tax Purposes ?
(A)12
(B)14
(C)18
(D)22


13. Where is located the Central Institute of Indian Languages?
(A)Bangalore
(B)Mysore
(C)Bhopal
(D)Lucknow


14. The recently launched National Rural Livelihood Mission aims to ensure that at least one member from each identified rural poor household, preferably a woman, is brought under the which among the following networks / schemes / facilities in a time bound manner?
(A)MGNREGA
(B)Self Help Groups
(C)Financial Inclusion
(D)Food Security


15. Consider the following:
1. National Initiative on Climate Resilient Agriculture
2. National Mission of Sustainable Agriculture
Which among the above come under the Prime Minister’s National Plan on Climate Change?
(A)Only 1
(B)Only 2
(C)Both 1 & 2
(D)Neither 1 nor 2