1. The Reserve Bank sets the average base rates of NBFC-MFI. It is -----

A. 8.15% B. 9.21% C. 8.81% D. 9.52% E. 7.96%

Answer: Option B
Explanation: The Reserve Bank set the average base rate to be charged from borrowers by non-banking financial companies (NBFCs) and micro-finance institutions (MFIs) at 9.21% for the first quarter of the next fiscal (April-June). The regulator in February 2014 had issued directions to NBFC-MFIs regarding the pricing of credit.
2. The Reserve Bank of India, RBI will inject long-term liquidity worth US Dollars into the banking system.

A. 1 billion B. 3 billion C. 7 billion D. 5 billion E. 9 billion

Answer: Option D
Explanation: The Reserve Bank of India, RBI said it will inject long-term liquidity worth 5 billion US Dollars into the banking system through a dollar-rupee buy-sell swap for a tenure of three years on April 23. The RBI statement stated that the move intends to meet the durable liquidity needs of the system.
3. The Asian Development Bank downgraded economic growth forecasts to ---- from 7.6 percent for India.

A. 7.2 percent B. 7.4 percent C. 7.0 percent D. 7.5 percent E. 7.6 percent

Answer: Option A
Explanation: The Asian Development Bank downgraded economic growth forecasts for India and Southeast Asia for 2019 as global risks from trade tensions to Brexit mount. Gross domestic product in India will probably increase 7.2 percent this year, down from a December forecast of 7.6 percent, according to the ADB’s latest Asian Development Outlook report.
4. Direct tax collections have fallen short by ----- thereby failing to meet the revised target of Rs 12 lakh crore for 2018-19.

A. Rs 60,000 crore B. Rs 40,000 crore C. Rs 70,000 crore D. Rs 50,000 crore E. Rs 55,000 crore

Answer: Option D
Explanation: Direct tax collections have fallen short by Rs 50,000 crore thereby failing to meet the revised target of Rs 12 lakh crore for 2018-19 fiscal on account of poor personal income tax collections. The target of personal income tax of Rs 5.29 lakh crore was not met by almost the same shortfall amount of Rs 50,000 crore, which dragged down the direct tax collections for the fiscal 2018-19.
5. World Bank to provide ------- for the National Rural Economic Transformation Project (NRETP) to Boost Rural Incomes across 13 States in India.

A. 200 Million dollar B. 150 Million dollar C. 250 Million dollar D. 300 Million dollar E. 100 Million dollar

Answer: Option C
Explanation: World Bank to provide 250 Million dollar for the National Rural Economic Transformation Project (NRETP) to boost Rural Incomes across 13 States in India.

1. Which multilateral financial institution has recently approved $400 million loan for water supply project in state of Andhra Pradesh?

A. Asian Development Bank B. World Bank C. International Monetary Fund D. Asian Infrastructure Investment Bank E. None of these

Answer: Option D
Explanation: Asian Infrastructure Investment Bank (AIIB- headquarter- Beijing, China) had approved a $400 million loan for a water sanitation project in Andhra Pradesh. India is the second largest shareholder of Asian Infrastructure Development Bank after China.
2. What amount Andhra Pradesh state government has announced to provide to unemployed youth under ‘Mukhyamantri Yuva Nestam’ scheme?

A. Rs. 1500 B. Rs. 1000 C. Rs. 1200 D. Rs. 1800 E. Rs. 2400

Answer: Option B
Explanation: Andhra Pradesh government has launched unemployment allowance scheme “Mukhyamantri Yuva Nestam”. The allowance amount would be of Rs. 1000 per month.
3. Which company has launched an instant loan approval and disbursal product called ‘Boost’?

A. PhonePe B. FreeCharge C. Paytm D. Mobikwik E. Amazon Pay

Answer: Option D
Explanation: Online payment company MobiKwik has launched an instant loan approval and disbursal product called ‘Boost’. As per the offer, loans of up to Rs 60,000 can be sanctioned as well as disbursed in a matter of 90 seconds. The approval time for the loan would be 30 seconds based on an innovative risk scoring model called ‘Mobiscore’. The minimum amount of loans that can be approved is for Rs. 5000 and the users will have the option to transfer the amount in their bank accounts.
4. Reserve Bank initiated steps to set up a digital Public Credit Registry (PCR). For developing the registry, the RBI has invited expression of interest (EOI) from companies with a turnover of over ------ in the last three years.

A. Rs. 10 crores B. Rs. 50 crores C. Rs. 100 crores D. Rs. 500 crores E. Rs. 25 crores

Answer: Option C
Explanation: To capture details of all borrowers, willful defaulters and also the pending legal suits, RBI has initiated steps to set up a wide-based digital Public Credit Registry (PCR). For developing the registry, the RBI has invited expression of interest (EOI) from companies with a turnover of over Rs. 100 crores in the last three years.
5. How much amount has been announced for Rashtriya Gokul Mission for the current year?

A. Rs.1250 crore B. Rs.100 crore C. Rs.500 crore D. Rs.750 crore E. Rs.1000 crore

Answer: Option D
Explanation: Allocation of Rs.750 crore for Rashtriya Gokul Mission has been announced for the current year itself. Setting up of "Rashtriya Kamdhenu Aayog" to upscale sustainable genetic upgradation of cow resources and to enhance production and productivity of cows has also been announced. The Aayog will also look after effective implementation of laws and welfare schemes for cow.

1. What is the authorized capital of National Insurance Company Limited (NICL)?

A. Rs. 100 crores B. Rs. 200 crores C. Rs. 500 crores D. Rs. 1000 crores E. Rs. 600 crores

Answer: Option B
Explanation: The authorized capital and paid-up equity capital of the company is Rs.200 crore and Rs.100 crore respectively. National Insurance Company Limited (NICL) is a state owned general insurance company in India. The company headquartered at Kolkata was established in 1906 and nationalised in 1972.
2. In which of the following city does not have RBI’s currency printing facility?

A. Dewas B. Nasik C. Mysore D. Raipur E. Salboni

Answer: Option D
Explanation: For printing currency, Reserve Bank of India (RBI) has four facilities at Dewas, Nasik, Mysore and Salboni.
3. Individual taxpayers having a taxable annual income up to Rs ------ will not be required to pay any income tax.

A. Rs.5 lakhs B. Rs.3 lakhs C. Rs.7 lakhs D. Rs.4 lakhs E. Rs.6 lakhs

Answer: Option A
Explanation: Individual taxpayers having taxable annual income up to Rs.5 lakhs will not be required to pay any income tax.
4. What is the full form of PCA?

A. Prompt Council Action B. Prompt Corrective Agenda C. Prompt Corrective Action D. Private Corrective Action E. Prompt Corrective Agency

Answer: Option C
Explanation: PCA stands for Prompt Corrective Action.
5. Fitch Ratings revised downwards India’s GDP growth forecast to ------ for current fiscal.

A. 7.1% B. 7.2% C. 6.8% D. 7.4% E. 7.3%

Answer: Option B
Explanation: Fitch Ratings revised downwards India’s GDP growth forecast to 7.2% for current fiscal citing higher financing cost and reduced credit availability. In its Global Economic Outlook, Fitch projected that for 2019-20 and 2020-21 financial years, India’s GDP growth will be 7% and 7.1% respectively. Fitch had in June projected India to grow at 7.4% in current fiscal and 7.5% in 2019-20.