IBPS PO MAIN -CLERKS MAIN CURRENT AFFAIRS --Q & A
What is India’s position on World
Bank’s latest edition of ‘ease of doing business’ index?
Answer
– 2. 100
Explanation
India has leaped to 100th rank out of 190 countries on World Bank’s latest edition of ‘ease of doing business’ index. This marks a forward leap of 30 places as compared to 130th rank in the previous edition of the index. In the report titled ‘Doing Business 2018: Reforming to Create Jobs’, India has been recognised as one of the top 10 improvers in this year’s assessment.
Explanation
India has leaped to 100th rank out of 190 countries on World Bank’s latest edition of ‘ease of doing business’ index. This marks a forward leap of 30 places as compared to 130th rank in the previous edition of the index. In the report titled ‘Doing Business 2018: Reforming to Create Jobs’, India has been recognised as one of the top 10 improvers in this year’s assessment.
What is the amount fixed by RBI, for
the latest Sovereign Gold Bond (SGB) series which opened on October 30,
2017?
Answer
– 1. Rs 2,945 per gram
Explanation
Reserve Bank of India (RBI) has announced that purchase price for the latest Sovereign Gold Bond (SGB) series which opened on October 30, 2017 has been fixed at Rs 2,945 per gram. These bonds can be subscribed from Monday to Wednesday every week. The price is based on the simple average closing price for gold of 999 purity of the last three business days of the week preceding the subscription period. Investors applying online and making the payment digitally will be eligible for a discount of Rs 50 per gram. Thus for such investors, the issue price will be Rs 2,895 per gram of gold.
Explanation
Reserve Bank of India (RBI) has announced that purchase price for the latest Sovereign Gold Bond (SGB) series which opened on October 30, 2017 has been fixed at Rs 2,945 per gram. These bonds can be subscribed from Monday to Wednesday every week. The price is based on the simple average closing price for gold of 999 purity of the last three business days of the week preceding the subscription period. Investors applying online and making the payment digitally will be eligible for a discount of Rs 50 per gram. Thus for such investors, the issue price will be Rs 2,895 per gram of gold.
Who is the new CEO of Paytm Payments
Bank?
Answer
– 2. Sudhanshu Jain
Explanation
Paytm Payments Bank appointed former ICICI Bank executive Sudhanshu Jain as its Chief Financial Officer (CFO). Sudhanshu Jain has 14 years of experience across internal audit, finance and borrowing roles. He was earlier assistant general manager and head of borrowing at the foreign exchange desk at ICICI Bank.
Explanation
Paytm Payments Bank appointed former ICICI Bank executive Sudhanshu Jain as its Chief Financial Officer (CFO). Sudhanshu Jain has 14 years of experience across internal audit, finance and borrowing roles. He was earlier assistant general manager and head of borrowing at the foreign exchange desk at ICICI Bank.
Who is heading the Panel which was
formed by Maharashtra State government to study the feasibility of merging
financially weak District Central Cooperative Banks (DCCBs) with the
Maharashtra State Cooperative (MSC) Bank?
Answer
– 3. Yashwant Thorat
Explanation
Maharashtra State government has formed a panel to study the feasibility of merging financially weak District Central Cooperative Banks (DCCBs) with the Maharashtra State Cooperative (MSC) Bank. The panel is headed by former NABARD chairman Yashwant Thorat. The panel has also been mandated to study reasons for financial weakness of banks and suggest ways for improvement. It is expected to submit its report in a month’s time.
Explanation
Maharashtra State government has formed a panel to study the feasibility of merging financially weak District Central Cooperative Banks (DCCBs) with the Maharashtra State Cooperative (MSC) Bank. The panel is headed by former NABARD chairman Yashwant Thorat. The panel has also been mandated to study reasons for financial weakness of banks and suggest ways for improvement. It is expected to submit its report in a month’s time.
Which insurance company has come up
with India’s first ever insurance cover for individual victims of cyber
crime?
Answer
– 4. Bajaj Allianz
Explanation
Insurance firm Bajaj Allianz has come up with India’s first ever insurance cover for individual victims of cyber crime. Under this policy, insurance cover will be provided against online fraud, identity theft, cyber-stalking and extortion, phishing and malware attack. Sum insured for this policy is in the range of Rs 1 lakh to Rs 1 crore. Insurance premium would depend on the number of hours the individual spends online. Higher the time spent implies greater the risk and would entail higher premium.
Explanation
Insurance firm Bajaj Allianz has come up with India’s first ever insurance cover for individual victims of cyber crime. Under this policy, insurance cover will be provided against online fraud, identity theft, cyber-stalking and extortion, phishing and malware attack. Sum insured for this policy is in the range of Rs 1 lakh to Rs 1 crore. Insurance premium would depend on the number of hours the individual spends online. Higher the time spent implies greater the risk and would entail higher premium.
Which digital payment platform
recently launched ‘Inbox’, a messaging service that will allow consumers to
chat with friends and family and send and request money at the same time?
Answer
– 5. Paytm
Explanation
digital payment platform Paytm launched ‘Inbox’, a messaging service that will allow consumers to chat with friends and family and send and request money at the same time. Paytm’s ‘Inbox’ is an end-to-end encrypted platform, through which users can users can initiate private conversations and create group chats. Users can even send photos and videos instantly, share live location. It also has a built-in camera which will enable to capture and share moments.
Explanation
digital payment platform Paytm launched ‘Inbox’, a messaging service that will allow consumers to chat with friends and family and send and request money at the same time. Paytm’s ‘Inbox’ is an end-to-end encrypted platform, through which users can users can initiate private conversations and create group chats. Users can even send photos and videos instantly, share live location. It also has a built-in camera which will enable to capture and share moments.
In which city of Pakistan, the Bank
of China formally launched its operations?
Answer
– 1. Karachi
Explanation
Bank of China formally launched its operations in Pakistan by opening its first branch in Karachi. With the opening of this branch of Bank of China, it is expected that the benefits of the China-Pakistan Economic Corridor (CPEC) would soon start reaching the masses. Karachi branch of Bank of China is the first in South Asia.
Explanation
Bank of China formally launched its operations in Pakistan by opening its first branch in Karachi. With the opening of this branch of Bank of China, it is expected that the benefits of the China-Pakistan Economic Corridor (CPEC) would soon start reaching the masses. Karachi branch of Bank of China is the first in South Asia.
Who first launched the first-ever
diamond futures contract with the total traded quantity in November expiry for
5,382.08 carats valued at Rs 173.32 crore?
Answer
– 2. Indian Commodity Exchange (ICEX)
Explanation
Indian Commodity Exchange (ICEX) said that, it has successfully completed first-ever diamond futures contracts settlement with the total traded quantity in November expiry for 5,382.08 carats valued at Rs 173.32 crore. ICEX had commenced operations on 28th August 2017 with the launch of three monthly diamond futures contracts – of November 2017, December 2017 and January 2018 expiry.
Explanation
Indian Commodity Exchange (ICEX) said that, it has successfully completed first-ever diamond futures contracts settlement with the total traded quantity in November expiry for 5,382.08 carats valued at Rs 173.32 crore. ICEX had commenced operations on 28th August 2017 with the launch of three monthly diamond futures contracts – of November 2017, December 2017 and January 2018 expiry.
Who is appointed as the whole-time
member of SEBI?
Answer
– 3. Sanjeev Kaushik
Explanation
Sanjeev Kaushik, a Kerala cadre IAS officer, has been appointed as whole-time member of SEBI. Sanjeev Kaushik has been appointed as whole time member of SEBI for a period of three years or till the age of 65 years, whichever is earlier. The Appointments Committee of the Cabinet has approved Kaushik’s appointment. Kaushik replaces S Raman, who retired from the post of a whole-time member in September 2017.
Explanation
Sanjeev Kaushik, a Kerala cadre IAS officer, has been appointed as whole-time member of SEBI. Sanjeev Kaushik has been appointed as whole time member of SEBI for a period of three years or till the age of 65 years, whichever is earlier. The Appointments Committee of the Cabinet has approved Kaushik’s appointment. Kaushik replaces S Raman, who retired from the post of a whole-time member in September 2017.
India along with which organisation
singed a loan agreement for USD 119 million for the Odisha Higher Education
Programme for Excellence and Equity (OHEPEE) Project?
Answer
– 3. World Bank
Explanation
India singed a loan agreement with World Bank for USD 119 million for the Odisha Higher Education Programme for Excellence and Equity (OHEPEE) Project. OHEPEE seeks to provide equitable access to students to selected institutions in Odisha and enhance governance of the higher education system in the state. This project will continue till November 2022.
Explanation
India singed a loan agreement with World Bank for USD 119 million for the Odisha Higher Education Programme for Excellence and Equity (OHEPEE) Project. OHEPEE seeks to provide equitable access to students to selected institutions in Odisha and enhance governance of the higher education system in the state. This project will continue till November 2022.
Which private sector bank entered
into a partnership with MobiKwik company to launch a co-branded virtual Visa
prepaid card for customers of MobiKwik?
Answer
– 3. IDFC Bank
Explanation
IDFC Bank entered into a strategic partnership with digital payments solution company MobiKwik to launch a co-branded virtual Visa prepaid card for customers of MobiKwik. By next week, IDFC Bank – Mobikwik Visa virtual pre-paid card facility will be available to all MobiKwik users on Android as well as iOS platform. To use the co-branded pre-paid card, the Mobikiwk user need not be a customer of IDFC Bank.
Explanation
IDFC Bank entered into a strategic partnership with digital payments solution company MobiKwik to launch a co-branded virtual Visa prepaid card for customers of MobiKwik. By next week, IDFC Bank – Mobikwik Visa virtual pre-paid card facility will be available to all MobiKwik users on Android as well as iOS platform. To use the co-branded pre-paid card, the Mobikiwk user need not be a customer of IDFC Bank.
Linking of __________ with insurance
policies were made mandatory by Insurance Regulatory and Development Authority
of India (IRDA) under Prevention of Money-laundering (Maintenance of Records)
Second Amendment Rules, 2017?
Answer
– 2. Aadhaar Card
Explanation
Insurance Regulatory and Development Authority of India (IRDA) has announced that linking of Aadhaar number to insurance policies is now a mandatory requirement under Prevention of Money-laundering (Maintenance of Records) Second Amendment Rules, 2017. This norm of linking Aadhaar number to insurance policies will apply to new customers as well as existing policy holders. Besides, it will apply not only to life insurance policies but also to general insurance policies.
Explanation
Insurance Regulatory and Development Authority of India (IRDA) has announced that linking of Aadhaar number to insurance policies is now a mandatory requirement under Prevention of Money-laundering (Maintenance of Records) Second Amendment Rules, 2017. This norm of linking Aadhaar number to insurance policies will apply to new customers as well as existing policy holders. Besides, it will apply not only to life insurance policies but also to general insurance policies.
In which Indian city, the United
Arab Emirates (UAE’s) second largest bank, Emirates NBD has started its
operations?
Answer
– 5. Mumbai
Explanation
United Arab Emirates (UAE’s) second largest bank, Emirates NBD has started operations in India by opening a branch in Mumbai. Emirates NBD, has a plan to invest USD 100 million capital into its Indian operations over a period of time. The Mumbai branch is Emirates NBD’s fifth international branch outside of its UAE.
Explanation
United Arab Emirates (UAE’s) second largest bank, Emirates NBD has started operations in India by opening a branch in Mumbai. Emirates NBD, has a plan to invest USD 100 million capital into its Indian operations over a period of time. The Mumbai branch is Emirates NBD’s fifth international branch outside of its UAE.
Which international organisation has
approved an USD 30 million soft loans for fourth phase of the North Eastern
Region Community Resource Management Project (NERCORMP)?
Answer
– 4. International Fund for Agriculture
Development (IFAD)
Explanation
International Fund for Agriculture Development (IFAD), an international financial institution and a specialised agency of the United Nations has approved a USD 30 million soft loans for fourth phase of the North Eastern Region Community Resource Management Project (NERCORMP). NERCORMP is a livelihood and rural development project aimed to transform the lives of the poor and marginalized tribal families in several districts of Assam, Meghalaya, Arunachal Pradesh and Manipur.
Explanation
International Fund for Agriculture Development (IFAD), an international financial institution and a specialised agency of the United Nations has approved a USD 30 million soft loans for fourth phase of the North Eastern Region Community Resource Management Project (NERCORMP). NERCORMP is a livelihood and rural development project aimed to transform the lives of the poor and marginalized tribal families in several districts of Assam, Meghalaya, Arunachal Pradesh and Manipur.
The government raised the maximum
amount of home loan limit for central government employees to ____ lakhs?
Answer
– 1. 25
Explanation
The government raised the maximum amount that a central government employee can borrow from the government to Rs 25 lakh for new construction/purchase of new house/flat. The limit for home loan borrowing has been tripled for central government employees as per the 7th pay commission recommendations. Earlier this limit was only Rs 7.50 lakh. This move is going to benefit about 50 lakh central government employees all over India.
Explanation
The government raised the maximum amount that a central government employee can borrow from the government to Rs 25 lakh for new construction/purchase of new house/flat. The limit for home loan borrowing has been tripled for central government employees as per the 7th pay commission recommendations. Earlier this limit was only Rs 7.50 lakh. This move is going to benefit about 50 lakh central government employees all over India.
RBI released a new set of
outsourcing norms for which of the following below?
Answer
– NBFC
Explanation
Reserve Bank of India (RBI) issued a notification outlining norms for outsourcing of functions/services by Non-Bank Financial Institution (NBFCs). As per the new norms, NBFCs cannot outsource core management functions like internal audit, management of investment portfolio, strategic and compliance functions for know your customer (KYC) norms and sanction of loans. Staff of service providers should have access to customer information only up to an extent which is required to perform the outsourced function.
Explanation
Reserve Bank of India (RBI) issued a notification outlining norms for outsourcing of functions/services by Non-Bank Financial Institution (NBFCs). As per the new norms, NBFCs cannot outsource core management functions like internal audit, management of investment portfolio, strategic and compliance functions for know your customer (KYC) norms and sanction of loans. Staff of service providers should have access to customer information only up to an extent which is required to perform the outsourced function.
FEMA norms eased to spur investment
from overseas. This notification by RBI has combined which of the 2 existing
regulations?
Answer
– 3. FEMA 20 and FEMA 24
Explanation
Reserve Bank of India (RBI) has simplified the Foreign Exchange Management regulations pertaining to Transfer or Issue of Security by a Person Resident outside India. This has been done by putting all the 93 amendments to Foreign Exchange Management Act (FEMA) under one notification. This notification by RBI has combined two existing regulations FEMA 20 and FEMA 24, which provides information on investment in an Indian company or a partnership, or in a limited liability partnership or in a partnership firm.
Explanation
Reserve Bank of India (RBI) has simplified the Foreign Exchange Management regulations pertaining to Transfer or Issue of Security by a Person Resident outside India. This has been done by putting all the 93 amendments to Foreign Exchange Management Act (FEMA) under one notification. This notification by RBI has combined two existing regulations FEMA 20 and FEMA 24, which provides information on investment in an Indian company or a partnership, or in a limited liability partnership or in a partnership firm.
Which Digital payments company has
launched its domestic operations in India and will now provide digital payment
solutions for merchants and customers in India?
Answer
– 1. PayPal
Explanation
American Digital payments company PayPal has launched its domestic operations in India and will now provide digital payment solutions for merchants and customers in India. In the Indian market, PayPal has been offering cross border payments since last ten years. It claims to control a third of India’s Business to Customer (B2C) export payments. Senior officials of PayPal have stated that PayPal’s brand is basically based on three pillars viz. reliability, safety and security. Adhering to this ideology, PayPal will offer its services with ‘Buyer and Seller protection’ as a differentiating factor to create its presence in the highly competitive digital payments space of India.
Explanation
American Digital payments company PayPal has launched its domestic operations in India and will now provide digital payment solutions for merchants and customers in India. In the Indian market, PayPal has been offering cross border payments since last ten years. It claims to control a third of India’s Business to Customer (B2C) export payments. Senior officials of PayPal have stated that PayPal’s brand is basically based on three pillars viz. reliability, safety and security. Adhering to this ideology, PayPal will offer its services with ‘Buyer and Seller protection’ as a differentiating factor to create its presence in the highly competitive digital payments space of India.
Who imposed Fine on Gujarat CM Vijay
Rupani’s Family for Manipulative Trading?
Answer
– 2. SEBI
Explanation
India’s securities market regulator Securities and Exchange Board of India (SEBI) has penalised 22 entities for involvement in manipulative trading. One of these 22 entities is Gujarat Chief Minister Vijay Rupani’s Hindu Undivided Family (HUF) that was found to be involved in manipulative trading through a listed firm called Sarang Chemicals. The alleged manipulative transactions by Mr. Rupani’s firm were done between January and June, 2011. Mr. Rupani’s firm has been asked to pay a Rs 15 lakh fine within 45 days.
Explanation
India’s securities market regulator Securities and Exchange Board of India (SEBI) has penalised 22 entities for involvement in manipulative trading. One of these 22 entities is Gujarat Chief Minister Vijay Rupani’s Hindu Undivided Family (HUF) that was found to be involved in manipulative trading through a listed firm called Sarang Chemicals. The alleged manipulative transactions by Mr. Rupani’s firm were done between January and June, 2011. Mr. Rupani’s firm has been asked to pay a Rs 15 lakh fine within 45 days.
Name the Private sector life
insurance company that has entered into a tie-up with Bank of Bahrain and
Kuwait (BBK) to sell retail and group insurance products to BBK’s customers in
India?
Answer
– 1. PNB MetLife
Explanation
Private sector life insurance company PNB MetLife has entered into a tie-up with Bank of Bahrain and Kuwait (BBK) to sell retail and group insurance products to BBK’s customers in India. As per the terms of the tie-up, PNB MetLife will offer protection, health, savings and wealth plans to BBK’s customers in India spread across its branches. Besides the conventional products, customised insurance plans will also be offered to BBK customers in India.
Explanation
Private sector life insurance company PNB MetLife has entered into a tie-up with Bank of Bahrain and Kuwait (BBK) to sell retail and group insurance products to BBK’s customers in India. As per the terms of the tie-up, PNB MetLife will offer protection, health, savings and wealth plans to BBK’s customers in India spread across its branches. Besides the conventional products, customised insurance plans will also be offered to BBK customers in India.
Name the carrier airline which has
received a loan worth of Rs 1,500 crore from Bank of India to meet urgent
working capital needs?
Answer
– 4. Air India
Explanation
Air India has received Rs 1,500 crore loan from Bank of India after the tender for the amount was floated in October 2017, in order to meet urgent working capital needs. Earlier, Air India had borrowed around Rs 3,250 crore as short tenure loans from two lenders – IndusInd Bank and Punjab National Bank. This loan was also for meeting urgent working capital needs and the tender was floated in September 2017.
Explanation
Air India has received Rs 1,500 crore loan from Bank of India after the tender for the amount was floated in October 2017, in order to meet urgent working capital needs. Earlier, Air India had borrowed around Rs 3,250 crore as short tenure loans from two lenders – IndusInd Bank and Punjab National Bank. This loan was also for meeting urgent working capital needs and the tender was floated in September 2017.
Which city will host the 34th annual
conference of the Asian Bankers Association (ABA) on 16th and 17th November
2017?
Answer
– 2. Mumbai
Explanation
Mumbai is to host the 34th annual conference of the Asian Bankers Association (ABA) on 16th and 17th November 2017. The Asian Bankers Association (ABA) summit will be hosted by State Bank. The theme for this year’s summit is ‘Asia’s turn to transform’. The event is expected to be attended by more than 160 domestic and international bankers.
Explanation
Mumbai is to host the 34th annual conference of the Asian Bankers Association (ABA) on 16th and 17th November 2017. The Asian Bankers Association (ABA) summit will be hosted by State Bank. The theme for this year’s summit is ‘Asia’s turn to transform’. The event is expected to be attended by more than 160 domestic and international bankers.
Which country hosted the 10th South
Asia Economic Summit (SAES)?
Answer
– 5. Nepal
Explanation
10th South Asia Economic Summit (SAES) begun in Kathmandu, Nepal on November 14, 2017. Theme of this summit: “Deepening Economic Integration for Inclusive and Sustainable Development in South Asia”. It has been organised by National Planning Commission and Ministry of Commerce of Nepal and South Asia Watch on Trade, Economics and Environment, Nepal.
Explanation
10th South Asia Economic Summit (SAES) begun in Kathmandu, Nepal on November 14, 2017. Theme of this summit: “Deepening Economic Integration for Inclusive and Sustainable Development in South Asia”. It has been organised by National Planning Commission and Ministry of Commerce of Nepal and South Asia Watch on Trade, Economics and Environment, Nepal.
As per a recent report by Bank of
America Merrill Lynch (BofA-ML), by 2028, India is in which position regarding
economy, in terms of nominal gross domestic product (GDP)?
Answer
– 2. 3rd
Explanation
As per a recent report by Bank of America Merrill Lynch (BofA-ML), by 2028, India is likely to overtake Japan as world’s third largest economy, in terms of nominal gross domestic product (GDP). This projection is based on the assumption that Indian economy will grow at 10% rate in US dollar terms over the next 10 years, ahead of Japan’s 1.6% growth rate. Besides, the report has forecasted that India will become a world’s fifth largest economy (ahead of France and United Kingdom) by 2019.
Explanation
As per a recent report by Bank of America Merrill Lynch (BofA-ML), by 2028, India is likely to overtake Japan as world’s third largest economy, in terms of nominal gross domestic product (GDP). This projection is based on the assumption that Indian economy will grow at 10% rate in US dollar terms over the next 10 years, ahead of Japan’s 1.6% growth rate. Besides, the report has forecasted that India will become a world’s fifth largest economy (ahead of France and United Kingdom) by 2019.
Who has been appointed as the new
chairman of the leading stock exchange BSE?
Answer
– 4. Sethurathnam Ravi
Explanation
S Ravi, who was a public interest director at the BSE, replaced Dhirendra Swarup as chairman of BSE with effect from 13 November 2017. Presently, Ravi serves as a director on boards of various companies such as IDBI Capital Markets Services, UTI Trustee Company, S Ravi Financial Management Services, SMERA Ratings, SBI-SG Global Securities, IDBI Bank, STCI Finance, Tourism Finance Corporation of India and BOI Merchant Bankers.
Explanation
S Ravi, who was a public interest director at the BSE, replaced Dhirendra Swarup as chairman of BSE with effect from 13 November 2017. Presently, Ravi serves as a director on boards of various companies such as IDBI Capital Markets Services, UTI Trustee Company, S Ravi Financial Management Services, SMERA Ratings, SBI-SG Global Securities, IDBI Bank, STCI Finance, Tourism Finance Corporation of India and BOI Merchant Bankers.
Who was appointed to the Financial
Stability Institute Advisory Board of the Bank of International Settlement
(BIS)?
Answer
– 4. Urjit Patel
Explanation
RBI Governor Urjit Patel was appointed to the Financial Stability Institute Advisory Board of the Bank of International Settlement (BIS). Bank of International Settlement (BIS) is a global financial organisation owned by major central banks from across the world. The Financial Stability Institute (FSI) of the BIS assists financial sector authorities worldwide in strengthening their financial systems. The Advisory Board will provide strategic advice to help the FSI continue to meet its mandate in a way that is responsive to the changing needs of its key stakeholders around the world.
Explanation
RBI Governor Urjit Patel was appointed to the Financial Stability Institute Advisory Board of the Bank of International Settlement (BIS). Bank of International Settlement (BIS) is a global financial organisation owned by major central banks from across the world. The Financial Stability Institute (FSI) of the BIS assists financial sector authorities worldwide in strengthening their financial systems. The Advisory Board will provide strategic advice to help the FSI continue to meet its mandate in a way that is responsive to the changing needs of its key stakeholders around the world.
In which city the BSE Institute
Limited (BIL) and DLT Labs together have planned to set up the India’s first
state-of-the-art Block Chain Lab?
Answer
– 4. Mumbai
Explanation
BSE Institute Limited (BIL), a wholly owned subsidiary of BSE Limited has signed an Memorandum of Understanding with DLT Labs to set up the India’s first state-of-the-art Block Chain Lab in Mumbai. Objective behind signing this MoU is to provide knowledge driven, in class education and training in the field of financial technology, with a special emphasis on Block Chain. Both the entities expect Block Chain to be the next big disruptive financial technology.
Explanation
BSE Institute Limited (BIL), a wholly owned subsidiary of BSE Limited has signed an Memorandum of Understanding with DLT Labs to set up the India’s first state-of-the-art Block Chain Lab in Mumbai. Objective behind signing this MoU is to provide knowledge driven, in class education and training in the field of financial technology, with a special emphasis on Block Chain. Both the entities expect Block Chain to be the next big disruptive financial technology.
In which port, India’s first mega
coastal economic zone (CEZ) was set up?
Answer
– 2. Jawaharlal Nehru Port in Maharashtra
Explanation
Central Government has given approval for setting up India’s first mega coastal economic zone (CEZ) at the Jawaharlal Nehru Port in Maharashtra. India’s first mega CEZ will stretch along north Konkan region spread across Nashik, Thane, Mumbai, Pune and Raigarh. Despite of JNPT being one of the busiest cargo ports, it has been chosen for this project due to availability of sufficient land
Explanation
Central Government has given approval for setting up India’s first mega coastal economic zone (CEZ) at the Jawaharlal Nehru Port in Maharashtra. India’s first mega CEZ will stretch along north Konkan region spread across Nashik, Thane, Mumbai, Pune and Raigarh. Despite of JNPT being one of the busiest cargo ports, it has been chosen for this project due to availability of sufficient land
Under whom, a panel was formed by
Reserve Bank of India (RBI) which recommended a list of commodities which can
be hedged in the overseas markets by all Indian residents?
Answer
– 5. Chandan Sinha
Explanation
A panel formed by Reserve Bank of India (RBI) under Chandan Sinha (former Executive Director of RBI) has recommended a list of commodities which can be hedged in the overseas markets by all Indian residents. Thus it has recommended a list of commodities (which includes gold, silver, zinc, tin, crude oil and its derivatives, coal, natural gas, tea, coffee, sugar and cocoa) which can be hedged in the overseas markets by all residents i.e. by both domestic users and exporters/importers.
Explanation
A panel formed by Reserve Bank of India (RBI) under Chandan Sinha (former Executive Director of RBI) has recommended a list of commodities which can be hedged in the overseas markets by all Indian residents. Thus it has recommended a list of commodities (which includes gold, silver, zinc, tin, crude oil and its derivatives, coal, natural gas, tea, coffee, sugar and cocoa) which can be hedged in the overseas markets by all residents i.e. by both domestic users and exporters/importers.
According to recent Moody’s upgraded
Sovereign Credit Rating, What is the rating given to India?
Answer
– 3. Baa2
Explanation
Moody’s Investors Service has upgraded the Government of India’s local and foreign currency issuer ratings to Baa2 from Baa3 and changed the outlook on the rating to stable from positive.
India’s rating has been upgraded by Moody’s after a gap of 13 years. It had last upgraded India’s sovereign credit rating in January 2004 to Baa3 (from Ba1). In the accompanying report, Moody’s has stated that India’s rating have been upgraded on expectations that major economic and institutional reforms undertaken by Government of India will enhance India’s high growth potential over a period of time and will help stabilize rising levels of debt.
Explanation
Moody’s Investors Service has upgraded the Government of India’s local and foreign currency issuer ratings to Baa2 from Baa3 and changed the outlook on the rating to stable from positive.
India’s rating has been upgraded by Moody’s after a gap of 13 years. It had last upgraded India’s sovereign credit rating in January 2004 to Baa3 (from Ba1). In the accompanying report, Moody’s has stated that India’s rating have been upgraded on expectations that major economic and institutional reforms undertaken by Government of India will enhance India’s high growth potential over a period of time and will help stabilize rising levels of debt.
In which city of Tamil Nadu, the
private sector RBL Bank inaugurated an all women branch?
Answer
– 3. Chennai
Explanation
Private sector RBL Bank inaugurated an all women branch in Chennai, Tamil Nadu. The all-women branch in Chennai will be managed by eight women and will offer all products and services across liability and assets. This initiative is RBL Bank’s efforts in encouraging gender equality. Currently, RBL Bank has 246 branches and 389 ATM across India. It serves 3.54 million customers.The headquaters of RBL is Mumbai, Maharashtra.
Explanation
Private sector RBL Bank inaugurated an all women branch in Chennai, Tamil Nadu. The all-women branch in Chennai will be managed by eight women and will offer all products and services across liability and assets. This initiative is RBL Bank’s efforts in encouraging gender equality. Currently, RBL Bank has 246 branches and 389 ATM across India. It serves 3.54 million customers.The headquaters of RBL is Mumbai, Maharashtra.
According to Moody’s Investors
Service upgraded ratings, how many Indian public sector firm’s rating got
upgraded from Baa3 to Baa2?
Answer
– 5. 9
Explanation
Moody’s Investors Service upgraded ratings of nine Indian public sector firms. Ratings of BPCL, HPCL, IOC and Petronet LNG Ltd (PLL) was upgraded to Baa2 from Baa3. This was on account of India’s sovereign rating upgrade. ONGC’s rating, which was already higher than the sovereign rating, has also been upgraded to Baa1 from Baa2.
Explanation
Moody’s Investors Service upgraded ratings of nine Indian public sector firms. Ratings of BPCL, HPCL, IOC and Petronet LNG Ltd (PLL) was upgraded to Baa2 from Baa3. This was on account of India’s sovereign rating upgrade. ONGC’s rating, which was already higher than the sovereign rating, has also been upgraded to Baa1 from Baa2.
With which bank, the Reliance
General Insurance, a subsidiary of Reliance Capital, has signed a comprehensive
bancassurance-corporate agency agreement?
Answer
– 2. YES Bank
Explanation
Reliance General Insurance, a subsidiary of Reliance Capital, has signed a comprehensive bancassurance-corporate agency agreement with YES Bank. YES Bank with its network of 1,040 branches across all 29 States and seven Union Territories will enable Reliance General Insurance to reach a large base of retail and MSME (Micro, Small and Medium Enterprises) clients.
Explanation
Reliance General Insurance, a subsidiary of Reliance Capital, has signed a comprehensive bancassurance-corporate agency agreement with YES Bank. YES Bank with its network of 1,040 branches across all 29 States and seven Union Territories will enable Reliance General Insurance to reach a large base of retail and MSME (Micro, Small and Medium Enterprises) clients.
Who is the newly appointed executive
director of SEBI?
Answer
– 4. Anand Rajeshwar Baiwar
Explanation
Anand Rajeshwar Baiwar is an Indian Revenue Service (IRS) officerof the 1990 batch. He assumed charge as SEBI executive director on 16 November 2017. Prior to this assignment, he was working as an income tax commissioner in Kolkata. He is a graduate in engineering as well as law. He holds Post Graduate Diploma in Management from IIM, Bangalore and is also a chartered financial analyst from ICFAI, Hyderabad.
Explanation
Anand Rajeshwar Baiwar is an Indian Revenue Service (IRS) officerof the 1990 batch. He assumed charge as SEBI executive director on 16 November 2017. Prior to this assignment, he was working as an income tax commissioner in Kolkata. He is a graduate in engineering as well as law. He holds Post Graduate Diploma in Management from IIM, Bangalore and is also a chartered financial analyst from ICFAI, Hyderabad.
According to Unique Identification
Authority of India (UIDAI), who are not required to link bank accounts and
other services with Aadhaar?
Explanation
Unique Identification Authority of India (UIDAI) has stated that Non-resident Indian (NRIs) and Persons of Indian Origin (PIOs) are not required to link bank accounts and other services with Aadhaar. UIDAI had to come up with this clarification as it received several representations about problems faced by Non Resident Indians (NRIs), Person of Indian Origin (PIOs) and Overseas Citizens of India (OCI), where some Departments and implementing agencies were asking them to submit or link their Aadhaar for availing services.
Unique Identification Authority of India (UIDAI) has stated that Non-resident Indian (NRIs) and Persons of Indian Origin (PIOs) are not required to link bank accounts and other services with Aadhaar. UIDAI had to come up with this clarification as it received several representations about problems faced by Non Resident Indians (NRIs), Person of Indian Origin (PIOs) and Overseas Citizens of India (OCI), where some Departments and implementing agencies were asking them to submit or link their Aadhaar for availing services.
State Bank of India (SBI)
has cut its benchmark lending rate by _____% across its maturities?
Answer
3. 0.05
Explanation
State Bank of India (SBI) has cut its benchmark lending rate by 0.05 per cent
across maturities. This decision has reduced SBI’s marginal cost of funds based
lending rate (MCLR) from 8.00 per cent to 7.95 per cent. SBI’s MCLR on
overnight borrowings has been reduced from 7.75 per cent to 7.70 per cent,
while the rate for three-year tenures has been lowered to 8.10 per cent from
8.15 per cent.
To
which Indian state, Asian Infrastructure Investment Bank (AIIB) approved the
loan amount of Rs. 13,000 crore for five projects?
Answer
5. Andhra Pradesh
Explanation
Asian Infrastructure Investment Bank (AIIB) approved Rs. 13,000 crore loan for five
project in Andhra Pradesh. Five projects for which the loan has been granted,
includes two projects of roads and buildings department, one project each of
rural safe drinking water department and municipal and urban development
department and one project of Panchayat Raj department.
According to the data
released by Union Commerce and Industry Ministry which sectors registered a
growth of 5.2% in September 2017?
Answer
4. Core industries
Explanation
As per data released by Union Commerce and Industry Ministry on October 31,
2017, core industries registered a growth of 5.2% in September 2017. Coal,
crude oil, natural gas, refinery products, fertilisers, steel, cement and
electricity are together referred to as core industries. In September 2017,
Production of coal, natural gas, refinery products, electricity generation and
steel products increased. Crude output and cement production was stagnant while
fertilisers output contracted.
Which is the India’s 1st
wallet unveiled by Yes Bank that is
fully integrated with all the IndiaStack APIs and National Payment Corporation
of India (NPCI) products?
Answer
4. Bhim Yes Pay
Explanation
Private sector bank, Yes Bank has unveiled BHIM YES PAY which is being termed
as India’s 1st wallet that is fully integrated with all the IndiaStack APIs and
National Payment Corporation of India (NPCI) products. BHIM YES PAY is
currently available for Android Users and will soon be available for iOS users.
Around
5.5 lakh customers of Yes Bank are currently registered on BHIM YES PAY.
How many digits are there
in RBI’s Legal Entity Identifier (LEI) ?
Answer
2. 20 digits
Explanation
Reserve Bank of India (RBI) issued a notification, directing corporate borrowers
having exposure of Rs 5 crore and above to mandatorily obtain 20-digit Legal
Entity Identifier (LEI). LEI is a
20-digit global reference number that uniquely identifies every legal
entity/organisation that is party to a financial transaction, in any country.
Which bank has received an
approval from Reserved Bank of India (RBI) to operate as Scheduled Commercial
Bank and has thereby been included in the Second Schedule of Reserve Bank of
India Act, 1934?
Answer
3. AU Small Finance Bank
Explanation
AU Small Finance Bank has received an approval from Reserved Bank of India
(RBI) to operate as Scheduled Commercial Bank and has thereby been included in
the Second Schedule of Reserve Bank of India Act, 1934. On acquiring the status
of Scheduled Commercial Bank, AU Small Finance Bank will now be able to do
borrowing and lending with RBI under Liquidity Adjustment Facility (LAF) and
Marginal Standing Facility (MSF).
India’s current account
deficit is what % of GDP this fiscal year 2017-18?
Answer
2. 1.5%
Explanation
India’s current account deficit (CAD) for FY 2017-18 is expected to be around
$40 billion, or 1.5 per cent of Gross Domestic Product (GDP). Current Account
Deficit arises when outflow of foreign exchange from the country is greater
than the inflow of foreign exchange. As per Nomura, CAD for first half of FY
2017-18 i.e. for April –September 2017 period, is expected to be around 2% GDP
As a payments bank, What
is the maximum amount IPPB can accept as deposits per account from individuals
and small businesses?
Answer
1. 1 lakh
Explanation
As a payments bank, IPPB can accept deposits of up to Rs 1 lakh per account
from individuals and small businesses. Union Communications Minister Manoj
Sinha stated that India Posts Payments Bank (IPPB) will have nationwide
presence by April 2017. By April 2018, IPPB branches will be opened in 650
districts across India.
Which Bank along with
APPLE, launched India’s first voice-based international remittance service to
enable non-resident Indians (NRIs) to send money to any bank in India?
Answer
3. ICICI bank
Explanation
ICICI Bank launched of India’s first voice-based international remittance
service to enable non-resident Indians (NRIs) to send money to any bank in
India. A Non-Resident Indian (NRI) customer of ICICI Bank to send money to any
bank in India via just a simple voice command to Apple’s virtual voice
assistant, Siri,on Apple iPhone/iPad.
Which bank promised to
give $100 billion of finance by 2025 to combat climate change?
Answer
4. HSBC
Explanation
HSBC pledged to provide $100 billion in financing and investment by 2025 to
help combat climate change. HSBC has
promised $100billion of finance for low-carbon technology and sustainable
development by 2025 as part its commitment to tackling climate change and other
“green” goals.
With an aim to promote a
digital economy, which bank has made online transactions through RTGS and NEFT
free of cost from 1st November 2017?
Answer
1. HDFC Bank
Explanation
HDFC Bank Ltd has made online transactions through RTGS and NEFT free of cost
from 1st November 2017, with an aim to promote a digital economy. According to
the revised fees and charges for savings and salary accounts, customers will
not have to pay any charge for doing online transactions through Real Time Gross
Settlement (RTGS) and the National Electronics Funds Transfer (NEFT) from 1st
November 2017.
Which e-commerce company introduced payments
using BHIM UPI through which users can create their own ID on the app, using
which customers can transfer money?
Answer
4. Paytm
Explanation
Paytm introduced payments using BHIM UPI through which users can create their
own Paytm BHIM UPI ID on the app, using which customers can transfer money.
Using BHIM UPI users can create their own Paytm BHIM UPI ID on the app, which
will be issued by Paytm Payments Bank. Users can link any of their savings bank
account with this unique Paytm BHIM UPI ID and start sending and accepting
money.
Which commercial Bank
formed a human chain to create awareness among the public to fight corruption
in Bangalore?
Answer
5. Syndicate bank
Explanation
Syndicate Bank formed a human chain to create awareness among the public to
fight corruption. This human chain was formed by Syndicate Bank in Bengaluru,
Karnataka. Syndicate Bank’s key people including Managing Director and CEO
Melywyn Rego, Executive Directors, SS
Mallikarjuna Rao and S Krishnan also took part in this activity along with
bank’s General Managers, Regional Managers and staff.
The Insolvency resolution
norms are made stringent. As per the norm stipulated in this amendment, the
antecedents, credit worthiness and credibility of a resolution applicant,
including promoters will be checked by which committee before approving the
resolution plan?
Answer
4. Committee of Creditors
Explanation
The Insolvency and Bankruptcy Board of India (IBBI) has amended IBBI
(Insolvency Resolution Process for Corporate Persons) Resolution Process, 2016
to ensure that the corporate insolvency resolution process results in a
credible and viable resolution plan. As per the norm stipulated in this
amendment, the antecedents, credit worthiness and credibility of a resolution
applicant, including promoters will be checked by the Committee of Creditors
before approving the resolution plan.
The Economic Research
Department of which bank has released a report on oil price hike and how
unlikely it is to impact the Current account deficit (CAD) and how inflation
could stretch fiscal?
Answer
5. SBI
Explanation
The Economic Research Department of State Bank of India (SBI) has released a
report on oil price hike and how unlikely it is to impact the Current account
deficit (CAD) and how inflation could stretch fiscal.The report is authored by
Dr. Soumya Kanti Ghosh, Group Chief Economic Adviser of SBI. The report depicts
oil price hike and its impact on the Current account deficit (CAD) and
inflation.
In which two countries,
the Federal Bank has obtained Reserve Bank of India (RBI’s) approval to open
representative offices?
Answer
2. Kuwait and Singapore
Explanation
Federal Bank has obtained Reserve Bank of India (RBI’s) approval to open
representative offices in Kuwait and Singapore. Year-on-year, Federal Bank has
been handling increasing inflow of foreign remittances and has now emerged as a
preferred banker for Non-Resident Indians (NRIs). Opening up of representative
offices in Kuwait and Singapore will facilitate liaising with NRIs for catering
to their various financial requirements.
Reserve Bank of India
(RBI) has asked banks to provide doorstep banking facilities for whom?
Answer
4. 1&2
Explanation
Reserve Bank of India (RBI) has asked banks to provide doorstep banking
facilities to senior citizens of more than 70 years of age and
differently-abled persons including the visually-impaired. The facilities that
are be extended include basic banking services like pick-up of cash and
instruments against receipt, delivery of cash against withdrawal from accounts,
delivery of demand drafts, chequebooks and submission of Know Your Customer
(KYC) documents.
8. The American Congress has authorised up
to $700 million in Coalition Support Fund (CSF), to repay to which country for
activities carried out in support of US operations in Afghanistan?
Answer
2. Pakistan
Explanation
The American Congress has authorised up to $700 million in Coalition Support
Fund (CSF) to reimburse Pakistan for activities carried out in support of US
operations in Afghanistan. The authorisation is included in the reconciled text
of the House and Senate versions of the 2018 National Defence Authorisation Act
(NDAA-2018). The reconciled version makes $350m of $700m available to Pakistan
under the CSF contingent upon certification from the secretary of defence that
Pakistan is taking demonstrable steps against the Haqqani network.
Which organisation
supported Rs 6,000 crore scheme to improve the irrigation facilities and water
accessibility capacity in several states?
Answer
1. World bank
Explanation
Union minister Nitin Gadkari announced World Bank-supported Rs 6,000 crore
scheme to improve the irrigation facilities and water accessibility capacity in
several states. This scheme was announced by Nitin Gadkari at the inauguration
of Agrovision Exhibition. Vice President Venkaiah Naidu was present on the
occasion. He performed e-jalpoojan of Kerala Lift Irrigation Scheme and right
bank canal of Gosikhurdh Irrigation project.
Ratings firm Crisil along
with which bank has signed a Memorandum of Understanding (MoU) to launch
CriSidEx, a sentiment Index for Micro, Small and Medium Enterprises (MSME)?
Answer
1. SIDBI
Explanation
Ratings firm Crisil and Small Industries Development Bank of India (SIDBI) have
signed a Memorandum of Understanding (MoU) to launch CriSidEx, a sentiment
Index for Micro, Small and Medium Enterprises (MSME). This index will provide
insights into employment, business environment and foreign trade trends in the
MSME sector.
Targeting to raise initial
amount of about how many crores as a part of disinvestment programme for the
current fiscal year, the Government of India launched New Fund Offer (NFO) for
BHARAT-22 Exchange Traded Fund (ETF)?
Answer
4. Rs. 8000cr
Explanation
Government of India launched New Fund Offer (NFO) for BHARAT-22 Exchange Traded
Fund (ETF), through which it is targeting to raise initial amount of about Rs.
8000 crore as a part of disinvestment programme for the current fiscal. New
Fund Offer of Bharat-22 ETF will be open till November 17, 2017, and is being
managed by ICICI Prudential Mutual Fund.
Which stock exchange
launches a new Electronic Smart Trader which is an advanced hosted trading
solution built on Thomson Reuters Omnesys NEST platform?
Answer
4. BSE (Bombay Stock Exchange)
Explanation
Marketplace Tech Infra Services, an arm of the premier exchange BSE (Bombay
Stock Exchange), launched BEST (BSE Electronic Smart Trader). BEST (BSE
Electronic Smart Trader) is an advanced hosted trading solution built on
Thomson Reuters Omnesys NEST platform. In October 2017, Marketplace had signed
a pact with Thomson Reuters to build the trading solution for BSEs members and
customers.
Digital payments services
company, Paytm has entered in to a tie-up with which private Bank to jointly
launch Bank Postpaid method that offers short-term credit to their common customers?
Answer
4. ICICI bank
Explanation
Digital payments services company, Paytm has entered in to a tie-up with ICICI
Bank to jointly launch ‘Paytm-ICICI Bank Postpaid’, that offers short-term
credit to their common customers. ‘Paytm-ICICI Bank Postpaid’ offers instant
digital credit for various transactions including payment for movie tickets,
bill payments, flights, as well as physical goods without any documentation or
transaction fees. Under this facility, real-time credit assessment of customers
is done through Big Data based algorithm
of ICICI Bank.
Which capital market
company has acquired South Africa-based First Rand Bank’s (FRB’s) microfinance
business in India?
Answer
2. Centrum Capital
Explanation
In a bid to kick-start its lending operations focused on retail and small &
medium enterprises (SMEs), Centrum Capital has acquired South Africa-based
First Rand Bank’s (FRB’s) microfinance business in India. Centrum is a
non-banking finance company (NBFC) which has already received a microfinance
institution (MFI) licence from the Reserve bank of India (RBI). As FRB already
has a Rs 200-crore loan book, around 70,000 customers and a staff strength of
over 300 people, its acquisition will provide a ready-made platform for Centrum
to foray in micro finance business.
Which bank along with
Action Construction Equipment Ltd (ACE) has tied up for augmenting
tractors/agricultural implements financing to the farmers across India?
Answer
2. Punjab National Bank (PNB)
Explanation
Punjab National Bank (PNB) and Action Construction Equipment Ltd (ACE) have
tied up for augmenting tractors/agricultural implements financing to the
farmers across India through PNB’s branch network. A MoU regarding the tie-up was
signed by B.M.Padha, Corporate General Manager, Priority Sector & Financial
Inclusion Division, PNB and Ashok Kumar Tomar, COO, ACE(Agriculture Division)
in the presence of Tirlochan Singh, Country Head, Retail Finance, ACE and other
dignitaries.
Under ‘Mission Antyodaya’,
what is the minimum balance a bank account should have?
Answer
2. Rs. 10,000
Explanation
Central Government has set Rs 10000 minimum balance in bank account as one of
the 21 parameters to assess poverty in gram panchayats under ‘Mission
Antyodaya’. Union Rural Development Ministry’s ‘Mission Antyodaya’ aims to
create 50000 poverty-free gram panchayats. The goal is to converge, all
existing government initiatives and schemes in these 50000 gram panchayats so
that every household within these panchayats is benefited which shall
consequentially lead to elimination of poverty.
According to the latest World Economic Outlook
report of the International Monetary Fund (IMF), India is in which position out
of 200 countries in terms of Gross Domestic Product (GDP) per capita?
Answer
3. 126
Explanation As per data which forms part of
the latest World Economic Outlook report of the International Monetary Fund
(IMF), India ranks 126th out of 200 countries in terms of Gross Domestic
Product (GDP) per capita. GDP Per Capita of a country is computed by dividing
its gross domestic product(GDP) by the number of people in the country. In
theoretical terms, higher GDP per capita results in to a higher standard of
living. India’s rank has improved by one spot as compared to previous year’s
rank. This improvement is on account of increase in GDP to USD 7170 in 2017,
from USD 6690 in the previous year.
Which Bank has signed an
MoU with Innovation Centre Denmark – India (ICDK India), to bring financial technology
innovations and startups from Denmark to India?
Answer
2. Yes bank
Explanation
Yes Bank has signed a Memorandum of Understanding (MoU) with Innovation Centre
Denmark – India (ICDK India), to bring financial technology innovations and
startups from Denmark to India, and facilitate entry of Indian startups in
Denmark. ICDK is a partnership between the Ministry of Foreign Affairs of
Denmark and the Danish Ministry of Higher Education and Science. This
collaboration will not only promote innovation in fintech space but will also
assist fintech companies in India and Denmark to gain entry in each other’s
markets.
What is the new method
launched by India Index Services & Products (IISL), a National Stock
Exchange (NSE) Group entity, to measure the performance of small and medium
enterprises (SMEs) listed on NSE’s EMERGE platform?
Answer
4. Nifty SME Emerge Index
Explanation
India Index Services & Products (IISL), a National Stock Exchange (NSE)
Group entity, launched Nifty SME Emerge Index, a new Nifty Index to measure the
performance of small and medium enterprises (SMEs) listed on NSE’s EMERGE
platform (dedicated NSE platform for small companies). This index represents
about 62 per cent of the full market capitalisation of all SMEs listed on EMERGE.
Launch of this index coincides with the listing of ANI Integrated Services,
which has become 100th company to list on NSE EMERGE.
THANKS: AFFAIRSCLOUD.
THANKS: AFFAIRSCLOUD.
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