1. Who has become the first lender to charge for UPI (Unified Payments Interface) use?

A. ICICI Bank B. RBL Bank C. South Indian Bank D. Kotak Mahindra Bank E. None of these

Answer: Option D
Explanation: Kotak Mahindra Bank becomes the first lender to Charge for UPI Use.For each Kotak Bank account, the first 30 UPI fund transfers will be free, after which a charge will be levied on all fund transfers from the bank account.Unified Payments Interface (UPI) is an instant real-time payment system developed by National Payments Corporation of India facilitating inter-bank transactions.
2. The Union government has decided to give how many billion USD financial assistanceto the island nation of Maldives?

A. $ 1.2 billion B. $ 1.4 billion C. $ 1.6 billion D. $ 1.8 billion E. $ 2.0 billion

Answer: Option B
Explanation: The Union government has decided to give USD 1.4 billion to the island nation of Maldives. This decision came after Maldivian president Ibrahim Mohamed Solih met Prime Minister NarendraModi during his 3-days visit to India. This is Solih’s first foreign trip after he was sworn in as the President of Maldives in a ceremony on 17th November 2018, which PM Modi had also attended.
3. Government of India has recently signed $ 300 million loan agreement with which international organisation to support IIFCL (Infrastructure Finance Company Limited) of India?

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

Answer: Option D
Explanation: Recently in November, 2018, the Asian Development Bank (ADB) and the Government of India signed a $300 million Loan Agreement to support lending by ‘India Infrastructure Finance Company Limited (IIFCL)’.
4. Recently Union government has announced to increase the contribution of government up to what percentage in “National Pension Scheme (NPS)”?

A. 10% B. 14% C. 12% D. 8% E. 15%

Answer: Option B
Explanation: Finance Minister ArunJaitley recently announced the rise in contribution of the government in National Pension Scheme (NPS) to 14 per cent from existing 10 per cent. The change in contribution was recommended by Committee of Secretaries (CoS), thus resulting in a total corpus of 24% from the previous 20%. Out of the 24%, 14 per cent would be contributed by the government and the remaining 10 per cent by the employees. Furthermore, he also made entire withdrawal amount tax free at the time of retirement by enhancing the tax exemption limit for lump sum withdrawal on exit to 60%.
5. What percentage of stake has been acquired by Asian Development Bank in micro-financier company ‘Annapurna Finance’ recently?

A. 24% B. 14% C. 49% D. 76% E. 51%

Answer: Option B
Explanation: In February, 2019, Asian Development Bank (ADB) bought 14% stake in micro-financier Annapurna Finance for Rs. 137 crores. ADB Bank bought this stake with a motive of attracting long -term funds from global lenders and investors.

1. Deposit Insurance and Credit Guarantee Corporation is a subsidiary of Reserve Bank of India. The authorized capital of DICGC is ------

A. 100 Crore B. 200 Crore C. 150 Crore D. 50 Crore E. 250 Crore

Answer: Option D
Explanation: DICGC is the fully owned subsidiary of Reserve bank of India. It was established in 1978 under the Deposit Insurance Credit Guarantee Corporation Act,1961 for the purpose of providing insurance of deposits and guaranteeing of credit facilities. The authorized capital of the Corporation is 50 crore, which is fully issued and subscribed by the Reserve Bank of India (RBI).
2. The CVV/CVC code (Card Verification Value/Code) located on the back of your visa debit card is digit.

A. Two B. Five C. Four D. Three E. Six

Answer: Option D
Explanation: The CVV/CVC code (Card Verification Value/Code) is located on the back of your credit/debit card on the right side of the white signature strip; it is always the 3 digits in case of VISA and MasterCard.
3. Under Liberalised Remittances scheme, remittances be made in ------

A. US Dollars only B. Euro only C. Both the US Dollar & Euro D. Any freely convertible foreign currency E. None of the above

Answer: Option D
Explanation: Under LRS, remittances can be made in any freely convertible foreign currency All resident individuals, including minors, are allowed to freely remit up to USD 2,50,000 per financial year (April – March) for any permissible current or capital account transaction or a combination of both.
4. A Priority sector lending certificate is valid for ------

A. One complete financial year B. 3 months C. 4 months D. 6 months E. 18 months

Answer: Option A
Explanation: All Priority sector lending certificates are valid in 1 complete financial year, March-April cycle. Priority Sector Lending Certificates (PSLCs) are a mechanism to enable banks to achieve the priority sector lending target and sub-targets by the purchase of these instruments in the event of a shortfall. Under the PSLC mechanism, the seller sells fulfilment of priority sector obligation and the buyer buys the obligation with no transfer of risk or loan assets.
5. Which of the following terms is used to define a loan extended to an individual or a company on a movable property?

A. Bill of Sale B. Balloon Payment C. Chattel mortgage D. Liquid Asset E. Price Ceiling

Answer: Option C
Explanation: Chattel mortgage is a loan extended to an individual or a company on a movable property. Here, the ‘chattel’ or the movable personal property could be a car, or a mobile home can be used as a security to extend the loan.

1. IDBI Bank has been categorized as ‘Private Sector Lender’ by RBI. What percentage of stake has been acquired by Life Insurance Corporation of India (LIC) in the bank recently?

A. 49% B. 26% C. 65% D. 76% E. 51%

Answer: Option E
Explanation: In March 2019, The Reserve Bank of India categorized IDBI Bank as a Private Sector Bank with effect from January 21, 2019 following Life Insurance Corporation of India (LIC) has acquired 51 per cent of the total paid-up equity share capital of the bank.
2. As announced in Interim Budget 2019-20, what is target of Fiscal deficit for financial year 2019-20?

A. 3.1% of GDP B. 3.5% of GDP C. 3.4% of GDP D. 4.4% of GDP E. 2.8% of GDP

Answer: Option C
Explanation: The target of fiscal deficit for 2019-20 is 3.4% of GDP while for next year it is estimated to be 3.1% of GDP.
3. The Defence Acquisition Council (DAC) accorded approval for the acquisition of defence equipment worth nearly Rs ------- crore which includes BrahMos Missiles, and Armoured Recovery Vehicles (ARVs) for Battle Tank Arjun.

A. Rs. 5000 crore B. Rs. 3000 crore C. Rs. 7000 crore D. Rs. 1000 crore E. Rs. 4000 crore

Answer: Option B
Explanation: The Defence Acquisition Council (DAC) accorded approval for the acquisition of defence equipment worth nearly Rs 3000 crore which includes BrahMos Missiles, and Armoured Recovery Vehicles (ARVs) for Battle Tank Arjun. The decision was taken at a meeting chaired by Defence Minister NirmalaSitharaman.
4. The Central government has announced ------ rupee award for states that would complete the household electrification early under the Saubhagaya scheme.

A. 200 crore B. 50 crore C. 150 crore D. 10 crore E. 100 crore

Answer: Option E
Explanation: The Power Ministry announced Rs 100 croreaward for states that would complete the household electrification early under the Saubhagya scheme.
5. The Union Government, Rajasthan and the World Bank signed a million Development Policy Loan (DPL) to support Rajasthan in improving the performance of its Electricity Distribution Sector under the State’s ‘24x7 Power for All’ program.

A. USD 1200 million B. USD 725 million C. USD 500 million D. USD 250 million E. USD 400 million

Answer: Option D
Explanation: The Union Government, Rajasthan and the World Bank signed a USD 250 million Development Policy Loan (DPL) to support Rajasthan in improving the performance of its Electricity Distribution Sector under the State’s ‘24x7 Power for All’ program.