Quiz 608: Current Affairs for Banking Examinations

1. The Housing Startup Index (HSUI), which is soon to be launched in India in 2012, is on the pattern of which among the following existing indices?
[A]Index of Industrial Production
[B]Consumer Price Index
[C]Wholesale Price Index

Index of Industrial Production

2. Which among the following is the core method of stabilizing the markets under the Market Stabilisation Scheme (MSS) ?
[A]Issuing Treasury Bills and/ or dated securities
[B]Purchasing Treasury Bills and/ or dated securities
[C]Conducting Open Market Operations
[D]All of above

Issuing Treasury Bills and/ or dated securities
To absorb excess liquidity, the Reserve Bank has pegged the quantum of intervention through Market Stabilisation Scheme (MSS) at Rs 50,000 crore.
Under the MSS, RBI, on behalf of government, absorbs liquidity by issuing Treasury Bills and/ or dated securities.

3. What are the General Anti-Avoidance Rules, or GAAR, that were making news recently?
[A]GAAR is a set of rules aimed at curbing aggressive tax planning
[B]GAAR is a set of rules aimed at curbing money laundering by Indians to Foreign countries
[C]GAAR is a set of rules aimed at regulating investments by Indians in foreign Countries
[D]GAAR is a set of rules aimed at regulating investments by Foreigners in India

GAAR is a set of rules aimed at curbing aggressive tax planning
General Anti-Avoidance Rule or GAAR is a broad set of rules aimed at curbing aggressive tax planning. These rules will empower tax authorities to
disregard any arrangement if its main purpose is to obtain tax benefit. The arrangement as a whole or in part may be disregarded and tax benefit denied.

4. What is the ceiling on FDI in Airlines in India?

The current policy allows 49% FDI in airlines through the automatic route.

5. Which among the following country has current presidency of G20?


6. Which among the following was the venue of Arab league summit, that was held from 27 March 2012 to 29 March 2012?

The Arab league summit was held in Baghdad from 27 March 2012 to 29 March 2012. The three-day summit was hosted by Iraq for the first time since
1990. 22

7. Which among following urban transport systems has recently entered the Guiness Book of World Record as longest driverless metro network in the world?
[A]Shanghai Metro
[B]Dubai Metro
[C]Hong Kong Metro
[D]Paris Metro

Dubai Metro

8. Which among the following panel of RBI has recently recommended to raise the Priority sector targets for foreign banks to 40% of net bank credit from the current level of 32 per cent with sub-targets of 15 per cent for exports and 15 per cent for the MSE sector?
[A]Subir Gokarn Panel
[B]Bimal Jalan Panel
[C]MV Nair Panel
[D]None of them

MV Nair Panel
It was MV Nair Panel. However, it said that target of domestic scheduled commercial banks for lending to the priority sector should be retained at 40 per
cent of net bank credit.

9. Who among the following will head the National Council for Senior Citizens?
[A]Prime Minister of India
[B]Chairman of National Development Council
[C]Deputy Chairman of Planning Commission
[D]Minister of Social Justice and Empowerment

Minister of Social Justice and Empowerment
The Council will comprise of 20 members including the Minister of State for Social Justice and Empowerment along with the oldest members from both
the Houses of Parliament and distinguished personalities from different fields. It will advice the Central and State Governments on issues related to
welfare of senior citizens. The Council will suggest special policies and programmes for the physical and financial security of the senior citizens in the

10. Geeta Kumari is related to which among the following sports?

Geeta Kumari , the woman wrestler, won a gold in 55kg category at the Asian qualifying tournament in Astana, Kazakhstan. She became the first Indian
woman wrestler to have ever qualified for the Olympics.

11. Who among the following is the winner of Templeton Prize, 2012?
[A]Aung San Suu Kyi
[B]Dalai Lama
[C]Martin John Rees
[D]John D. Barrow

Dalai Lama

12. A national award in India in the name of Maharashtrian saint Sant Gadge Baba has been announced in relation to which among the following?
[A]Social Service
[B]Widows welfare
[C]Sanitation and Cleanliness
[D]Environment Protection

Sanitation and Cleanliness
In March 2012, Union Rural Ministry had announced a national award for sanitation and water in the name of Maharashtrian saint Sant Gadge Baba. The
award is to honour villages, individuals or organisations working in the field of sanitation and drinking water.

13. Recently, the Finance Ministry of Government of India has developed a new index shortened as CRIS. What is the correct full form of CRIS?
[A]Comparative Rating Index for Sovereigns
[B]Cumulative Rating Index for States
[C]Comparative Rating Index for States
[D]Comparative Rating Index of Societies

Comparative Rating Index for Sovereigns
Finance Ministry has developed a new index Comparative Index of Sovereign Ratings. CRIS provides a comparative account on how safe and rewarding a
nation’s sovereign credit is in comparison with other nations. Please note that Chief Economic Advisor has provided inputs in development of this index,
whose formula is still a secret.

14. As per the latest World Trade Report 2011 published by WTO, India is one of the largest Service Exporters of the world. What rank as been assigned to India in terms of largest Service Exporters?


15. A large number of wealth managers are now a days advising high net worth individuals (HNIs) to diversify their portfolios into alternative assets. Which among the following is / are alternative assets:
1. Real estate
2. Gold ETFs
3. Unlisted private equity
4. Art objects
Choose the correct option:
[A]1 & 2
[B]1, 2 & 3
[C]1, 2, 3 & 4
[D]2, 3 & 4

1, 2, 3 & 4
Alternative assets are non-traditional assets with potential economic value that is not found in a standard investment portfolio. Typically, these investments provide returns that have a low or negative correlation with traditional assets like equity and debt. They help increase returns and diversify risk. Some exotic investments like in yachts, rare stamps, fine wine or rare coins also fall under alternative asset category. Typically, alternative assets are illiquid and hence investment is recommended with a time frame of more than five years. Poor liquidity makes it difficult to determine the true value of the investment in many cases. Due to the high risk involved, return expectations are also high

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  • rishi0590



    very good to those appearing for bank exams
    and other

  • raja

    the valuable qs. for the ibps po exam.