Competition Booster OCT 2015 (Part-1) For IBPS Exam

RBI/ BANKING/BUSINESS NEWS THIS MONTH

• 14 October: Indian government signed a deal, worth 105.5 crore rupees, with Pipistrel, a Slovenian firm, for 194 micro-light aircraft named 'Virus SW 80/100' to be used by Indian Air Force, the Navy and the National Cadet Corps. However, the Indian version of the aircraft will be renamed as Garud.

• 14 October: Punjab National Bank (PNB) claimed the Beighton Cup hockey tournament at the Sports Authority of India (SAI) ground in Kolkata. PNB defeated Indian Oil Corporation (IOC).

• 14 October: ICICI Bank has launched 'Money2World,' a fully online outward remittance service for resident Indians. With this, non-account holders of ICICI Bank can now transfer money online from any bank account in India to any bank account overseas in 16 major currencies, in a "convenient and fully secure" manner. It is a first-of-its-kind service by any bank in India. Users can remit up to an equivalent of $25000 in a financial year through this online platform.

• 14 October: The President of the African Development Bank (AfDB), Akinwumi Adesina, announced that the AfDB would triple its annual climate financing to reach 5 billion dollar a year by 2020.

• 14 October: Finance Ministers of 20 nations vulnerable to climate change launched the V20 Group. The Group was launched during the annual meeting of International Monetary Fund and World Bank in Lima, Peru. The Group aims to pool resources for their fight against the impact of global warming and is a counterpoint to the G20 group of leading industrialized and emerging economies.

• 13 October: India and Jordon inked six MoUs in various fields in Amman. These include, agreement on Maritime Transport, Exchange of information on structure and content of training programmes for diplomats, Cooperation in the field of IT & Electronics, Cultural Exchange Programme for 2015-17, Cooperation in the fields of Standardization and Conformity Assessment; and Cooperation Agreement between Jordan News Agency [Petra] and Press Trust of India [PTI]. The MoUs were signed as part of the President Pranab Mukherjee’s three-day visit to Jordan from 10-12 October 2015.

• 12 October: China launched the much anticipated China International Payment System (CIPS), an international payment system that seeks to provide global dimensions to its currency Yuan. CIPS will provide capital settlement and clearing services for crossborder Yuan transactions for financial institutions domestically and abroad and will effectively enhance efficiency and increase global use of the Chinese currency.

• 12 October: Union Government released data which discloses that the National Pension System (NPS) and the Atal Pension Yojana (APY) have together crossed milestone figure of Rs. 1 lakh crore (or Rs. 1 trillion) with regard to total Assets Under Management (AUM). Both together have more than one crore subscribers with total AUM of Rs.1, 00,275 crores.

• 12 October: The Trans-Pacific Partnership (TPP) free trade agreement of 12 Pacific Rim countries was reached at the ministerial meeting of the Trans-Pacific Partnership (TPP) held in Atlanta, USA that will cover almost 36% of global economic output. This is an ambitious agreement to lower trade and investment barriers in 12 partner countries in the Asia Pacific region. The TPP is world’s biggest trade agreement in the past two decades.

• 12 October: The Asian Development Bank (ADB) has approved a $15 million grant to rebuild schools, provide micro-loans to help restore livelihoods, and to boost disaster awareness in quake-ravaged Nepal.

• 10 October: ICICI Bank launched a mobile payment service 'mVisa'. The service enables customers to make electronic payments from their smart phones at traditional stores, ecommerce sites, deliveries made at home, radio taxi and utility bills among others without swiping a debit card. The service is based on 'mVisa', a new mobile payment solution from Visa. ICICI Bank is the first bank globally to launch a mobile app based on 'mVisa' solution for consumers and merchants.

• 10 October: Drug maker Cipla announced that its South African subsidiary Cipla Medpro (Pvt.) Ltd. has entered into an exclusive agreement with Serum Institute of India (SII). The two organizations have partnered to provide vaccines in South Africa. The partnership will enable affordable and accessible vaccines for South Africans as well as will facilitate a reliable supply stream to the South African Government.

• 9 October: International Monetary Fund (IMF) has projected the economic growth rate of 7.5 percent for India in 2016 as against China's 6.3 percent. In its latest World Economic Outlook Update, IMF said growth in India is expected to rise above the rates
  in other major emerging market economies.

• 9 October: National Commodity & Derivatives Exchange Ltd (NCDEX) signed an
  agreement with Kotak Mahindra Bank. Under the agreement, farmers and traders who have kept their commodities in NCDEX-approved warehouses, can use such commodities as collateral for availing financial assistance from Kotak Mahindra Bank.

• 8 October: The International Monetary Fund (IMF) has trimmed its growth forecast for India to 7.3% for the current fiscal, from 7.5% predicted in July, although it maintained the country’s near-term growth prospects still remained favorable. The multilateral agency also cut its projection for global economic growth to 3.1% for 2015. .

• 8 October: Easing norms for foreign ownership of government debt, RBI announced higher investment limits in rupee terms in government securities by foreign portfolio investors (FPIs) with a view to bringing in an additional Rs 1.2 lakh crore by March 2018. The announcement follows a decision by RBI to fix FPI investment limits in rupee terms and raise it in phases to reach 5 per cent of the outstanding stock by March 2018.

• 8 October: The Union Cabinet chaired by the Prime Minister Shri Narendra Modi, has given its approval for the formation of a Group ‘A’ service of the technical cadre of the Ministry of Skill Development & Entrepreneurship (MSD&E). This was earlier called the Directorate General of Employment & Training, Ministry of Labour Employment. The new service will be called the Indian Skill Development Service (ISDS).

• 8 October: The Cabinet Committee on Economic Affairs (CCEA), chaired by the Prime Minister Shri Narendra Modi, has given its approval to: (i) implement the World Bank assisted National Watershed Management Project "Neeranchal" with a total outlay of $357 million (Rs 2142.30 crore at Rs. 60 = $1 Government Share 50%) (ii) implement the project at the National level as well as in the nine States of Andhra Pradesh, Chattisgarh, Gujarat, Jharkhand, Madhya Pradesh, Maharashtra, Odisha, Rajasthan and Telangana.

• 7 October: A framework MoU was signed between the Department of Heavy Industries (DHI), GoI and Fraunhofer, Germany, which will act as the 'technology resource partner'. The objective of this MoU is to support and augment the 'Make in India' programme through increasing the innovation and technology prowess of Indian industry.

• 7 October: According the provisional data of the RBI, UCO Bank was listed as the worst performer among the public sector banks (PSU banks) for registering the highest increase in gross non-performing assets (NPAs) in percentage terms against total loans for last fiscal year (2014-15).

• 6 October: The World Bank cut its 2015 and 2016 growth forecasts for the developing East Asia and Pacific (EAP) region, which includes China, to grow 6.5 per cent in 2015 and 6.4 per cent in 2016, down from 6.8 per cent growth in 2014.

• 5 October: Private bank IDFC Bank became the latest entrant to India’s banking sector on 1 October 2015 as it unveiled its banking operations on this day with 23 branches.

• 3 October: Global rating agency Fitch Ratings has lowered India's GDP growth estimate for the current fiscal 2015-16 to 7.5 per cent from 7.8 per cent. 1 October: With $31 billion of foreign capital inflows, India has surpassed China and the US to take the pole position in attracting largest FDI in the first half of 2015. The Finance Ministry forwarded a report published in Financial Times, London that said "India grabs investment league pole position." In 2014 India ranked fifth in terms of capital investment, after China, the US, the UK and Mexico. According to the report India has attracted $31 billion of FDI in H1 2015, ahead of $28 billion of China and $27 billion of US.

Important Questions of Banking Awareness For IBPS Exam

Question: In which year Punjab National Bank was established ?

(1) 1880
(2) 1887
(3) 1894
(4) 1900
(5) None of these

Question: What is the full form of 'CORE' in core banking services ?

(1) Channel of Rupee Exchange.
(2) Customer Online Realtime Exchange.
(3) Centralized Online Rupee Exchange.
(4) Centralized Online Realtime Exchange.
(5) Customer Online Rupee Exchange.

Question: Consider the following statements about Multidimensional Poverty Index (MPI)

(A) MPI focuses on education, health & living standard as a supplement to income based measure of poverty rd
(B) India ranks 63 in MPI based poverty ranking among 104 developing countries.
(C) Bihar is the second poorest state in India on the basis of MPI based poverty ranking.

Question: Which of above statement(s) is/ are true ?

(1) Only A & B
(2) Only B & C
(3) Only A & C
(4) All A,B & C
(5) None of these

Question: What is the upper limit of RTGS transactions in India ?

(1) No limit
(2) Rs. 10 lacs
(3) Rs. 50 lacs
(4) Rs.20 lacs
(5) Rs. 40 lacs

Question: Open unemployment refers to people-

(1) Who are not willing to work
(2) Who are willing but do not get work.
(3) Who leave their jobs in search of better jobs.
(4) Who have been dismissed because of corrupt practices.
(5) None of these

Question: 'Open Market Operation' is a part of-

(1) Income Policy
(2) Fiscal Policy
(3) Credit Policy
(4) Labour Policy
(5) None of these

Question: SDR, the currency of the IMF, is in the form of-

(1) Paper Currency
(2) Gold
(3) Silver and Gold both
(4) Book Keeping entry only
(5) None of these

Question: Which of the statements given below is/are incorrect ?

(A) United Stock Exchange is the fourth country level exchange of India.
(B) It is headquartered at Mumbai.
(C) It will trade in six foreign currency derivatives.

(1) Only A and B
(2) Only B and C
(3) Only A and C
(4) Only B
(5) Only C

Question: In India, National income is estimated by ?

(1) Planning commission
(2) Indian Statistical Institute
(3) Central Statistical Office
(4) National Smaple Survey Organisation
(5) None of these

Question: Hindu Rate of Growth refers to the rate of growth of-

(1) GDP
(2) Population
(3) Foodgrains
(4) Per Capita income
(5) None of these

Question: Which one of the following is not an objective of fiscal policy of Indian Government ?

(1) Full employment
(2) Regulation of Inter-State-trade
(3) Price stability
(4) Equitable distribution of wealth & income
(5) None of these

Question: How many times has financial emergency been declared in India so far ?

(1) 5 times
(2) 4 times
(3) Once
(4) Never
(5) None of these

Question: Which one of the following is not charged on the Consolidated Fund of India ?

(1) Salary & allowances of the president of India
(2) Salary & allowances of the speaker of the Lok Sabha
(3) Salary & allowances of the Justices of the Supreme Court of India
(4) Salary & allowances of the Vice President of India
(5) None of these

Question: What would be the New Price Index that would measure inflation ?

(1) PPI (2011)
(2) CPI (2010)
(3) WPI (2004-2005)
(4) RTI
(5) None of these

Question: What is the maximum ceiling on Foreign Direct Investment (FDI) for investment in the equity of Public Sector Banks in India ?

(1) 20%
(2) 26%
(3) 49%
(4) 51%
(5) 74%

Question: According to 2011 Census, Sex Ratio in India stood at -----females per 1000 males.

(1) 933
(2) 965
(3) 947
(4) 940
(5) None of these

Question: Indian Stock Market deals in --------.

(1) Shares
(2) Debentures
(3) Forward Contracts
(4) Mutual Funds
(5) All of the above

Question: ‘Self Help Group’ is associated with which of the following Rural Development Programmes ?

(1) Pradhan Mantri Gram SadakYojana
(2) Swarna Jayanti Gram Swarozgar Yojana
(3) TRYSEM
(4) Indira Aawas Yojana
(5) None of these

Question: During which of the following plan period annual growth rate of G.D.P. was registered as 3.6%?

(1) First five year plan
(2) Second five year plan
(3) Fourth five year plan
(4) Fifth five year plan
(5) None of these

Question: Call money is related to–

(1) Share Market
(2) Government Securities
(3) Post Office Deposit
(4) Banks Deposit
(5) None of these

Question: Finance Commisson is included in of Indian Constitution.

(1) Article 340
(2) Article 280
(3) Article 360
(4) Article 390
(5) None of these

Question: Which of the following is/are TRUE about the "Village Gram Bank Scheme" ?

(1) The scheme is launched to provide safeguards against Starvation during the period of natural calamities or lean season.
(2) The gram banks are set up in food scare areas like drought prone areas.
(3) Village Panchayats who were running Village Grain Banks earlier are now not authorized to run.
(4) Both (1) and (2)
(5) None of theseNAMA

Question: word is related to which organisation ?

(1) World Trade Organisation
(2) UNCTAD
(3) International Monetary Fund
(4) World Bank
(5) None of these

Question: SEBI is related to -----------

(1) Bank
(2) Government of India
(3) Share Market
(4) State Government
(5) None of these

Expected Questions of Current Affairs For IBPS Exam

Question : What is India's GDP growth forecast for the FY 2015-16 according to Fitch Ratings?

Answer : 7.5%

Question : What is the rank of India on the Global Competitiveness Index 2015?

Answer : 55th

Question :  What is Sky Muster?

Answer : Australia's communication satellite

Question :  Which of the following won the gold medal in women's 10 meter air pistol event at the 8th Asian Air Gun Championships?

Answer : Heena Sindhu

Question :  ____________, an Indian-American associate professor has been named a 2015 MacArthur Fellow with a "genius grant" of $625,000.

Answer : Kartik Chandran

Question :  In which of the following states Neyveli Lignite Corporation (NLC) has set up its first Renewable Energy project?

Answer : Tamil Nadu

Question :  Which of the following ministries launched the NOC Online Application Portal and Processing System (NOAPS)?

Answer : Ministry of Culture

Question :  Who has been named brand ambassador of Hero Indian Super League (ISL) Football Tournament Season 2 for Tamil Nadu?

Answer : Dhanush

Question :  Expand FATCA.

Answer : Foreign Account Tax Compliance Act

Question :  How much fine has been imposed by International Court of Arbitration on ISRO’s commercial arm Antrix?

Answer : $562.5 million

Question :  What is the target set by India to cut the carbon emission by 2030?

Answer : 33-35%

Question :  Who has become the first Indian batsman to reach 1,000 runs in the Twenty20 International (T20I) 2015?

Answer : Virat Kohli

Question :  Which of the following has entered Da Nang in Vietnam on a four-day visit?

Answer : INS Sahyadri

Question :  Who has become the first Indian to receive the ‘Magnolia Gold Award’?

Answer : Rangarajan Vellamore, CEO Infosys China

Question :  Who won the Best CEO award in Public Sector category in the Forbes India Leadership Awards 2015?

Answer : Arundhati Bhattacharya

Question :  Who has assumed office as Chairman and Managing Director of Neyveli Lignite Corporation Limited (NLC)?

Answer : Sarat Kumar Acharya

Question :  Which of the following ministries launched Intensive Participatory Planning Exercise II (IPPE-II) scheme?

Answer : Rural Development Ministry

Question :  Recently HSBC announced retirement of ________ as HSBC India chairman on 31 December 2015.

Answer : Naina Lal Kidwai

Question :  Which country will host G20 Summit in 2018?

Answer : India

Question :  With how many branches IDFC Bank started its banking operations?

Answer : 23

Question :  According to the World Bank report which country accounted for the largest number of poor people in any country in 2012?

Answer : India

Question :  Who has been elected President of Board of Control for Cricket in India (BCCI)?

Answer : Shashank Manohar

Question :  What is the World Bank's growth forecast for China in 2015?

Answer : 6.5%

Question :  Name the Indian diplomat who has been appointed the new British Ambassador to Qatar.

Answer : Ajay Sharma

Question :  The navies of which two countries conduct Coordinated Patrol (CORPAT) exercise?

Answer : India and Indonesia

Question :  Which company has been ranked as the most valuable company in India in terms of market capitalization?

Answer : Tata Consultancy Services Ltd.

Question :  Which of the following has appointed Sriram Venkataraman as the CFO for its commerce platform?

Answer : Flipkart

Question :  Which of the following pairs won Wuhan Open Tennis Tournament?

Answer : Sania Mirza and Martina Hingis

Question :  In which Indian state Asia’s premier mountain biking race was organised?

Answer : Himachal Pradesh

Question :  As a part of Indian Navy’s overseas deployment to West Asia, Africa and Europe which of the following entered Istanbul?

Answer : INS Trikand

Question :  How many scientists have been chosen for Nobel Prize 2015 for Medicine (or Physiology)?

General Awareness Questions asked in IBPS CWE RRB Officer (Scale - I) - 2015

• Rajiv gandhi khel ratna - Sania Mirza
• Atal Innovation Mission (AIM) is aimed at - Research and Development
• India signed MoU on technical cooperation in railway sector with - Slovak Republic
• Sariska Tiger Reserve is located in - Rajasthan
• FDI cap increased in Private Banking to - 74%
• Act that enables free and compulsory education for children between 6 and 14 - Right To Education Act
• Finance Ministry has imposed definitive anti-dumping duty on Potassium Carbonate imports from - Taiwan
• Recently the Indian government has approved the purchase of 10 missile-armed drones from - Israel
• Which state government has signed 9 MoUs worth Rs. 30,530 crore with nine petroleum companies - Rajasthan
• World postal day - 9th October
• BBB full form is - Bank Board Bureau
• Which country has agreed to sell four MI 35 attack helicopters to Pakistan - Russia
• India's highest award for lifetime achievement in sports and games - Dhyan Chand Award
• Masdar city is located in - Abudhabi
• Article 21 of our constitution is - Right to personal liberty and livelihood
• West Ham United's ladies team has signed Indian international goalkeeper - Aditi Chauhan
• Commonwealth 2015 chess championship winner is - Abhijeet Gupta
• Lakshya missile was given by DRDO to which company for selling - L&T
• Ireland Capital - Dublin
• Varanasi is located on the bank of - Ganga
• World Intellectual Property Organization (WIPO) Headquarter is in - Geneva, Switzerland
• The rufiyaa is the currency of - Maldives
• Unit Linked Insurance Plan (ULIP) is offered by - Insurance
• www.vidyalakshmi.co.in is associated with - Educational Loans
• Khalifa International Stadium - Doha, Qatar
• Central Bank of India headquarter - Mumbai
• Minister of State in the Finance Ministry - Jayant Sinha
• MUDRA Bank provide credit to - MSME