National Councils & Institutions - Banking awareness questions on current affairs

1)   Who has been appointed as the new Finance Secretary on 31st Aug’15?
- Published on 08 Sep 15

a. L C Goyal
b. Rajiv Mehrishi
c. Ratan P Watal
d. Shaktikanta Das
Answer  Explanation  Related Ques

ANSWER: Ratan P Watal

Explanation:
He is a 1978-batch IAS officer of the Andhra Pradesh cadre.


2)   Who has been appointed as the head of the 14 member committee that will work out a five-year action plan for financial inclusion?
- Published on 08 Sep 15

a. Deepak Mohanty
b. Bimal Jalan
c. Bibek Debroy
d. Arvind Kumar
Answer  Explanation  Related Ques

ANSWER: Deepak Mohanty

Explanation:
Deepak Mohanty is the RBI Executive Director. The Committee will work to spread the reach of financial services to unbanked population. The committee was constituted in reference to Prime Minister Narendra Modi’s address on the occasion of the Reserve Bank’s 80th anniversary wherein he asked the Bank to take the lead in encouraging financial institutions and to set a medium-to-long term target for sustainable financial inclusion.


3)   Which stock exchange has launched an enhanced online system for Non-banking Financial Companies (NBFCs) to report data on pledged securities on a quarterly basis?
- Published on 08 Sep 15

a. NSE
b. BSE
c. MCX
d. MCX-SX
Answer  Explanation  Related Ques

ANSWER: BSE

Explanation:
BSE had launched an enhanced module for pledge reporting wherein the NBFCs shall be able to submit quarterly reporting of pledged data. This is in line with RBI's recent initiative vide its circular dated April 10, 2015. Currently, more than 65 NBFCs are using this platform on BSE. So far, the total value of promoters' pledged holding stands at nearly 2 lakh crore rupees on the exchange. On August 21, 2014, the central bank had directed NBFCs with asset size of 100 crore rupees and above to report online to stock exchanges, information on the shares pledged in their favour, by borrowers for availing loans. In its circular in April this year, the RBI had asked NBFCs to report data on pledged shares on a quarterly basis, among others.


4)   Name the person elected as the new Chairman of the Life Insurance Council on 1st Aug’15?
- Published on 08 Sep 15

a. K N Rai
b. S K Roy
c. Sushil Kumar
d. Rajesh Vadhera
Answer  Explanation  Related Ques

ANSWER: S K Roy

Explanation:
Roy will head the three-member Executive Committee (EC), a key body of the Council, for a period of three years.


5)   Which temple in India has opened up a Demat account to accept donations from devotees in the form of shares and securities?
- Published on 08 Sep 15

a. Shirdi Sai Temple
b. Tryambkeshwar Temple
c. Vaisho Devi Temple
d. Tirumala Venkateswara Temple
Answer  Explanation  Related Ques

ANSWER: Tirumala Venkateswara Temple

Explanation:
Tirumala Venkateswara Temple, also known as Tirupati Balaji, is considered to be one of India's richest temple and receives crores of rupees, precious metals and stock certificates in donations every year. The temple, as of August 2014, had around 5,000kg of gold deposited with various banks in India.


6)   As announced by EPFO on 6th Aug’15, what amount of money would be invested by EPFO via Exchange Traded Funds (ETF)?
- Published on 08 Sep 15

a. 200 Crore
b. 980 Crore
c. 2400 Crore
d. 5000 Crore
Answer  Explanation  Related Ques

ANSWER: 5000 Crore

Explanation:
The Employment Provident Fund Organisation - EPFO will invest around Rs 5,000 crore this fiscal through SBI Mutual Fund's two index linked ETFs, one to the BSE's Sensex and the other to NSE's Nifty. The decision comes after the labour ministry allowed EPFO to invest 5 to 15 % of its incremental corpus in equities through ETFs. Asked why EPFO was starting off with just 5% of the corpus when it has the mandate for 15%, EPFO Commissioner K.K. Jalan said that the organisation had decided to go slow. Adding that investing through ETF route reduces risk, Mr. Jalan said fund allocation could increase to as much as Rs 70 billion to Rs 80 billion next year and that the organisation will also consider investing in other ETFs. Currently, EPFO has 8.5 trillion rupees under management, most of it invested in government bonds.


7)   Which of the following got accredited by the Green Climate fund as a national implementing entity for undertaking climate change related projects in India?
- Published on 08 Sep 15

a. SIDBI
b. NABARD
c. MUDRA
d. EPFO
Answer  Explanation  Related Ques

ANSWER: NABARD

Explanation:
No explanation is available for this question!


8)   Which one of the following is controlled by the World Wide Web?
- Published on 20 Jul 15

a. Universal banking
b. Virtual Banking
c. Wholesale Banking
d. None of these
Answer  Explanation  Related Ques

ANSWER: Virtual Banking

Explanation:
Internet banking is known as virtual banking. It is called so because it has no bricks and boundaries.


9)   Which is the largest private sector bank in India ?
- Published on 20 Jul 15

a. ICICI
b. Axis
c. HDFC
d. HSBC
Answer  Explanation  Related Ques

ANSWER: HDFC

Explanation:
No explanation is available for this question!


10)   What is the tagline of SBI?
- Published on 20 Jul 15

a. Pure Banking Nothing Else
b. You can always bank on us
c. Working for a better tomorrow
d. Experience Next Generation Banking
Answer  Explanation  Related Ques

ANSWER: Pure Banking Nothing Else

Explanation:
Government of India owned the Imperial Bank of India in 1955 and renamed it the State Bank of India.


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