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Quiz 612: Banking & Economy Current Affairs for Bank PO 2012 Examinations

1. As per a report, India received $2.21 billion in foreign direct investment in February 2012. Which among the following countries is the top source of FDI to India?
[A]Singapore
[B]Mauritius
[C]USA
[D]Japan

Mauritius


2. Recently we read in the newspapers that Central Bureau of Investigations (CBI) has been investigating some companies for alleged violations of provisions of FCRA, 2010. What is this FCRA 2010?
[A]Foreign Companies Regulation Act 2010
[B]Fiscal Control & Regulation Act 2010
[C]Foreign Commercial Representation Act 2010
[D]Foreign Contribution Regulation Act 2010

Foreign Contribution Regulation Act 2010


3. In India, the Foreign Exchange Reserves are kept in the custody of which among the following?
[A]Ministry of Finance
[B]EXIM Bank
[C]Reserve Bank of India
[D]Select Public Sector Banks

Reserve Bank of India


4. Which among the following country has started paying Indian Exporters in Indian Rupees, after an arrangement to that effect has been done by Government of India?
[A]Pakistan
[B]Iran
[C]Myanmar
[D]South Korea

Iran
India’s exporters have begun receiving the first rupee payments from Iran, thus kicking off the mechanism to skirt Western sanctions from March 2012.


5. Many banks in India have gone for ISO 27001:2005 certification for compliance with which among the following?
[A]Best Customer Service
[B]Best Security Practices
[C]Excellent Financial strength
[D]Excellent Business Values

Best Security Practices
ISO/IEC 27001:2005 is for Information technology — Security techniques — Information security management systems — Requirements


6. Which among the following data are released in India on monthly basis?
1. CPI
2. WPI
3. IIP
Choose the correct option:
[A]Only 1 & 3
[B]Only 2 & 3
[C]Only 1
[D]1,2 & 3

1,2 & 3


7. Republic of Tatarstan was recently making news as an Indian company has reportedly decided to invest in petrochemical or refining facility in the region. Which among the following statements is correct about Republic of Tatarstan?
[A]Its an independent Country in Central Asia
[B]It’s a foreign territory administered by UK
[C]It’s a federal subject of Russia
[D]It’s a sovereign country in Middle East

It’s a federal subject of Russia


8. Which of the following state Governments in India has recently launched the gram suraj abhiyan (village contact programme) to reach to the door of the people in the remote areas of the state?
[A]Rajasthan
[B]Madhya Pradesh
[C]Chhattisgarh
[D]Punjab

Chhattisgarh


9. Which among the following organization is largely funding the National Dairy Plan–Phase I ?
[A]International Development Association
[B]Asian Development Bank
[C]IBRD
[D]UNDP

International Development Association
The new central sector scheme, National Dairy Plan–Phase I (NDP-I) with an outlay of Rs 2,242 crore will be launched on April 19, 2012 at National Dairy Development Board, Anand by Sharad Pawar, union agriculture minister, government of India. Gujarat chief minister, Narendra Modi will remain present at the event. The plan is for six years and will be implemented in the 14 major milk producing states. The scheme will be largely financed with loan from the International Development Association of the World Bank and implemented by NDDB through end implementing agencies.


10. Which among the following is the short name of highest authority in India for Indirect Taxes?
[A]CBED
[B]CBDT
[C]CBEC
[D]CBIT

Central Board of Excise and Customs (CBEC)


11. Which among the following can not be called an ant inflationary measure?
[A]Raising the Bank Rates
[B]Raising the Reserve Ratio Requirements
[C]Purchase of securities in the Open Markets
[D]Rationing of the Credit

Purchase of securities in the Open Markets
The C is correct option. This is because Purchase of securities in the Open Markets would lead to more liquidity system and more liquidity means more money will chase the same goods.


12. If the Reserve Bank of India wants to increase the Cash Reserves commercial Banks, which among the following would be the most probable step taken by it ?
[A]Release Gold from its reserves
[B]Buy bonds in the open market
[C]Prohibit the transactions that involve bill of exchange
[D]Increase the tranche reserves with the IMF

Buy bonds in the open market
When RBI buys bonds in the open market, Banks get money and Cash Reserves would increase.


13. The Government of India has recently launched a “Youth to the Edge” pilot scheme in North East India for which among the following purposes?
[A]To encourage the youth of the North East India to take active participation in development programmes
[B]To provide laptops to the Youth of the North East India
[C]To introduce youth from rest of India to the North Eastern Culture
[D]To provide vocational education to the youth of North East

To introduce youth from rest of India to the North Eastern Culture
The Pilot Scheme aims to introduce youth from rest of India to the North Eastern Region (NER) and organise combined adventure activities along with the youth from NER. They will also be given exposure about local culture, traditions and life style. Conduct of adventure training will benefit the participants by inculcating spirit of adventure, environmental awareness, national integration, casualty evacuation, promotion of adventure tourism, channelizing youth energy in positive direction, sense of self employment and self recognition.


14. What is the approximate average fertilizer consumption in India per hectare of land?
[A]120 Kg
[B]140 Kg
[C]170 Kg
[D]200 Kg

140 Kg
With average fertilizer consumption at 144.14 kg per hectare India is using much less quantities of chemical fertilizers compared to other developing countries. But imbalanced use of chemical fertilizers coupled with low addition of organic matter and neglect of micro and secondary nutrients over the years has resulted in nutrient deficiency and deterioration of soil health in many parts of the country, particularly in the intensively cultivated Indo-Gangetic plains.


15. The new variety Rajarajan 1000 is of which among the following?
[A]Cotton
[B]Wheat
[C]Coffee
[D]Rice

Rice
Forty seven varieties of hybrid paddy have been developed and released/notified for cultivation in the country. System of Rice Intensification (SRI) is being promoted under National Food Security Mission – Rice for increasing the production and productivity of rice. SRI has been named as Rajarajan 1000 to commemorate 1000 years celebration of Tanjore Big Temple. SRI demonstrations under the scheme are being promoted for 0.4 ha each by providing the assistance of Rs.3000/- per demonstration. National Food Security Mission – Rice is being implemented in 144 districts of 16 States. (Ministry)