Banking and Insurance Awareness
1. Which is the first Indian Commercial Bank that was fully owned and managed by Indians?

A. State Bank of India B. Allahabad Bank C. Central Bank of India D. Canara Bank

Answer: Option (C)
2. Which bank has started as a private shareholders bank, mostly by European shareholders?

A. Bank of India B. Bank of Baroda C. Dena Bank D. Imperial Bank of India

Answer: Option (D)
3. Which of the following statements is/are true about NABARD?

A. It is a development bank in the sector of Regional Rural Banks in India. B. It provides and regulates credits in the rural area. C. It gives assistance for the promotion and development of rural sectors, mainly agriculture. D. It finances rural crafts. E. All of these.

Answer: Option (E)
4. Which of the following statements is/are true about Co-operative Banks in India?

A. It has a three-tier set-up. B. State Co-operative Banks does not have access to RBI C. It is an urban-oriented Bank D. It functions on sound business principles.

Answer: Option (A)
5. What is/are true about IMF?

A. It's headquarter is situated at Washington, D.C. B. It works to foster economic stability and global growth by providing policy, advice, and financing to members C. It negotiates conditions on lending and loans under their policy D. It oversees the fixed exchange rate arrangements between countries E. All of these

Answer: Option (E)
6. In pursuance of which one of the following was the General Insurance Corporation of India was formed?

A. General Insurance Business (Nationalization) Act, 1972 B. Insurance Act, 1938 C. Insurance Amendment Act, 2002 D. IRDA Act 1999

Answer: Option (A)
Explanation: The entire general insurance business in India was nationalized by the Government of India through the General Insurance Business (Nationalisation) Act of 197B.
7. A method of valuing insured property or the value computed by that method is known as

A. Actual cost validity B. Actual cash value C. Replacement cash value D. Normal cost value

Answer: Option (B)
Explanation: Actual Cash Value (ACV) is a method of valuing insured property or the value computed by that method. Actual Cash Value (ACV) is not equal to replacement cost value (RCV). ACV is computed by subtracting depreciation from replacement cost.
8. Which of the following is a combination of insurance as well as an investment?

A. Money back policy B. Endowment plan C. Unit Link Insurance Plan D. Mutual Funds

Answer: Option (C)
Explanation: Unit Link Insurance Plan is basically a combination of insurance as well as investment, while mutual funds are a pure investment avenue
9. Which of the following form is designed to be used by many different insurers and has exactly the same provisions?

A. Guaranteed Replacement Form B. Standard insurance Form C. Standard Endorsement Form D. Standard Policy Form

Answer: Option (D)
Explanation: Standard Policy Form is an insurance policy form that is designed to be used by many different insurers and has exactly the same provisions, regardless of the insurer issuing the policy.
10. Which was the oldest insurance company, found in 1906:

A. LIC B. National Insurance Company C. Agriculture Insurance Company of India D. United India Insurance Company

Answer: Option (B)
Govt. Schemes and Policies
1. Which programme was launched to prevent child trafficking and rescue children from persons who try to engage them in begging, sexual trade and antisocial activities?

A. Kulkarni B. Muskaan C. Rahat D. Khusz E. Savitri

Answer: Option (B)
Explanation: After successful implementation of ‘Operation Smile’, the railway police started implementing ‘Operation Muskaan’ to trace missing and destitute children and reunite them with their parents. The main aim of the programme was to prevent child trafficking and rescue children from persons who tried to engage them in begging, sexual trade and other antisocial activities. Under this programme, specially trained police teams would screen all children residing in shelter homes, railway platforms, bus stands, roads, and religious places.
2. Which of the following mentioned portals & sub-programmes were created under Sarva Shiksha Abhiyan (SSA)? A. Shagun Portal B. Padhe Bharat Badhu Bharat C. Rashtriya Avishkar Abhiyan (RAA) D. Vidyanjali E. All of the above
Answer: Option (E)
3. Consider the following statements about Pradhan Mantri LPG Panchayats: 1. Each such panchayat brings together about a hundred women LPG customers on an interactive platform to discuss the safe and sustainable use of LPG. 2. One lakh such panchayats will be conducted across India before 31st March 2019. Which of the statements given above is/are correct?

A. 1 only B. 2 only C. Both 1 and 2 D. Neither 1 nor 2

Answer: Option (C)
Explanation: PM LPG Panchayats consist of meetings of Ujjwala beneficiaries. These meetings will serve as platforms for the government to interface with the beneficiaries, harness their experiences and integrate them to create a knowledge base for triggering a sustainable and viable movement around Ujjwala. These meetings will also reaffirm the need for safe and regular LPG usage. Such panchayats bring together about 100 (women) LPG customers together near their living areas on an interactive platform to discuss safe and sustainable usage of LPG, it’s benefits and the linkage between use of clean fuel for cooking and women empowerment. One Lakh LPG Panchayats will be conducted across India before 31st March 2019.
4. The ‘Startup India Yatra’ is an initiative that is related to

A. Development of startup ecosystems in villages. B. The search for entrepreneurial talent in Tier-2 and Tier-3 cities. C. Awareness workshops on the Startup India Initiative being held at technical universities across the country. D. Startup India Hub’s international bilateral cooperation with countries having strong startup ecosystems. E. None of the above

Answer: Option (B)
Explanation: The Startup India Yatra is an initiative that travels to Tier 2 and Tier-3 cities of India to search for entrepreneurial talent and help develop the Startup Ecosystem. The Startup Yatras have covered the States of Gujarat, Uttar Pradesh and Odisha where more than 18000 young entrepreneurs were supported through mentorship. Startup Yatra in Uttarakhand has recently been started on 2 April.
5. Consider the following statements about Ujwal Discom Assurance Yojana: 1. It targets reducing the aggregate losses from power theft to 15% by 2019. 2. An envisaged impact of the scheme is the increased demand for power. 3. The Central Government will not include the discom debt taken over by States as per the above scheme in the calculation of fiscal deficit of respective States for the financial years 2015-16 to 2019-20. Which of the statements given above is/are correct?

A. 1 and 2 only B. 2 and 3 only C. 1 and 3 only D. 1, 2 and 3 E. None of the above

Answer: Option (A)
Explanation: Some salient features of UDAY: States shall take over 75% of DISCOM debt as on 30 September 2015 over two years – 50% of DISCOM debt shall be taken over in 2015-16 and 25% in 2016-17. The government of India will not include the debt taken over by the States as per the above scheme in the calculation of fiscal deficit of respective States in the financial years 2015-16 and 2016-17.
6. On June 26, 2018, the Government proposed to set up how many Van Dhan Kendras involving 30,000 SHGs across India under the Van Dhan Scheme of the Ministry of Tribal Affairs?

A. 2000 B. 5000 C. 10,000 D. 3000 E. None of these

Answer: Option (D)
Explanation: The Prime Minister launched the Van Dhan Scheme of Ministry of Tribal Affairs and TRIFED on 14th April 2018 during the celebrations of Ambedkar Jayanti at Bijapur Chattisgarh. This initiative has an estimated value: Rs.2 Lakh Cr. per year. Under Van Dhan Scheme, 10 Self Help Groups of 30 Tribal gatherers each have been constituted at Bijapur, Chhattisgarh. The workers are trained by TRIFED and are provided with working capital to add value to the products, which they collect from the Jungle.
7. On 25th June 2018, a campaign to encourage farmers to voluntarily adopt a new scheme ‘Paani Bachao, Paise Kamao’, for checking depletion of underground water, was launched in _____?

A. Patiala, Punjab B. Jalandhar, Punjab C. Patna, Bihar D. Hyderabad, Telangana E. None of these

Answer: Option (B)
8. ‘Modified Special Incentive Package Scheme’ targets which of the following sectors?

A. Heavy industries B. Electronic System Design and Manufacturing (ESDM) C. Automobile manufacturing and assembly D. Pharmaceuticals E. Textiles

Answer: Option (B)
Explanation: The Modified Special Incentive Package Scheme (M-SIPS) was launched to promote large scale manufacturing, to offset disability and to attract domestic and global investments into the Electronic System Design and Manufacturing (ESDM) sector in India. The scheme is available for both new projects and expansion projects. The scheme provides the subsidy for investments in capital expenditure – 20% for investments in SEZs and 25% in non-SEZs.
9. The scheme ‘Niryat Bandhu’ aims at which of the following?

A. To train new entrepreneurs to start a new business B. To provide vocational training to youth C. To provide facilitating officers for hassle-free international trade D. To mentor new and potential exporters on the intricacies of foreign trade E. None of the above

Answer: Option (D)
Explanation: Niryat Bandhu - Hand Holding Scheme for new export-import entrepreneurs. DGFT is implementing the Niryat Bandhu Scheme for mentoring new and potential exporter on the intricacies of foreign trade through counseling, training and outreach programs.
10. Consider the following statements about Atal Bhujal Yojana 1. It is conceived to arrest the rampant overuse of groundwater in India 2. It is supported by the World Bank 3. It is a sub-scheme under National Groundwater Management Improvement Scheme (NGMIS) Select the correct statements

A. 1 and 2 B. 2 and 3 C. 1 and 3 D. All of the above

Answer: Option (A)
Explanation: Atal Bhoojal Yojana is an ambitious plan aimed at efficient management of available water resources. Atal Bhujal Yojana will focus on demand-side management (how to meet requirements by minimum use of water). The emphasis of the scheme will be on recharge of groundwater sources and efficient use of water by involving people at the local level. The half of the fund of 6000 crores will be supported by a world bank loan of 3000 crores and the rest will be funded by central government. It would initially be implemented with community participation in Gujarat, Maharashtra, Haryana, Karnataka, Rajasthan, Uttar Pradesh, and Madhya Pradesh.
Static Awareness
1. Which bank has launched a unique credit card ‘Unnati’ for which any customer with a balance of at least Rs 25000 in his /her savings account with the bank would be eligible?

A. HDFC Bank B. ICICI Bank C. Axis Bank D. SBI E. PNB

Answer: Option (D)
2. Which of the following has become the first state in the country to carry financial inclusion and extend banking services to unbanked areas through SHGs

A. Odisha B. Jharkahnd C. Karnataka D. Gujarat E. Rajasthan

Answer: Option (A)
3. The ‘digibank’ is an entire bank squeezed to fit into your smartphone. it is powered by DBS Bank, which is headquartered in

A. Singapore B. Shanghai C. London D. Paris E. Stockholm

Answer: Option (A)
4. The SBI offers a wide bouquet of technology products and services to its customers, which of the following is NOT associated with the SBI?

A. Mingle B. Payzapp C. Buddy D. Pehli Uddan E. None

Answer: Option (B)
5. The Earth Day is an annual event celebrated worldwide on

A. 30 March B. 08 April C. 22 April D. 30 April E. 01 May

Answer: Option (C)
6. SBI General Insurance Company is a joint venture between the SBI and Insurance Australia Group (IAG) in which respective ownership of SBI and IAG are

A. 74 %,26 % B. 51 %, 49 % C. 50%,50 % D. 26 %, 74 % E. 85 %, 15 %

Answer: Option (A)
7. The SBI had first merged State of Bank of Saurashtra with itself in which year?

A. 2002 B. 2008 C. 2004 D. 2006 E. 2000

Answer: Option (B)
8. The capital Small Finance Bank, India’s first small Finance bank, was launched in 2016. The bank is headquartered in

A. Chandigarh B. Jalandhar C. Bhopal D. Jaipur E. Bengaluru

Answer: Option (B)
9. The RBI allows the Micro Finance Institutions (MFIs) o lend up to what amount to small borrowers?

A. Rs 30000 B. Rs 45000 C. Rs 50000 D. Rs 75000 E. Rs 1 lakh

Answer: Option (E)
10. What is the currency of Ethiopia?

A. Birr B. Rand C. Lek D. Gourde E. Dram

Answer: Option (A)

Financial Awareness
1. The term ‘Red Herring’ is associated with which of the following?

A. Demonetization B. Disinvestment C. IPO D. Acquisition E. OMO

Answer: Option (C)
2. The Credit Rating Information Services of India Ltd or CRISIL is the first credit rating agency set up in India in 1987. The agency is headquartered in

A. New Delhi B. Mumbai C. Gurugram D. Bengaluru E. Hyderabad

Answer: Option (B)
3. The RBI’s process or mechanism under which some precautionary actions are taken against banks is known as

A. provisioning B. assignment C. merger D. Strategic Debt Restructuring E. Prompt Corrective Action

Answer: Option (E)
4. The IFSC is an 11-digit alpha-numeric code that uniquely identifies a bank branch. The term IFSC means

A. Indian Forwarding System Code B. Indian Fiduciary System Code C. Indian Financial System Code D. Indian Fiscal System code E. None of these

Answer: Option (C)
5. The BCBS is a committee of banking supervisory authorities established in 1974. The term BCBS means

A. Beijing Committee on Banking Suitability B. Baku Committee on Banking Supervision C. Brussels Committee on Banking Sustainability D. Basel Committee on Banking Supervision E. None of these

Answer: Option (D)
6. The UPI is a payment service which has been developed by

A. BIS B. NPCI C. SWIFT D. IBA E. World Bank

Answer: Option (B)
7. Which of the following terms is NOT used in banking /Finance?

A. ECGC B. ECG C. FATF D. FRDI E. DICGC

Answer: Option (B)
8. What does the letter ‘P” stand for in the term AePS?

A. Payment B. Processing C. Procurement D. Punching E. Provisioning

Answer: Option (A)
9. Which of the following is NOT a factor associated with microfinance?

A. KYC norms B. Collaterals C. Pre-payments charges D. EMI E. None of these

Answer: Option (B)
10. Which of the following is not a primary function of a Bank?

A. Granting loans B. Clearing cheques C. Arranging Visa for students D. Setting up ATMs E. Selling Gold

Answer: Option (C)
Current Affairs
1. Where was the 4th Meeting of India-Ukraine Working Group on Trade and Economic Cooperation (IU-WGTEC) held?

A. New Delhi, India B. Kiev, Ukraine C. Mumbai, India D. Lviv, Ukraine E. None of these

Answer: Option (A)
Explanation: On 2nd April 2019, India and Ukraine have discussed bilateral trade featuring the importance of exports and imports between the 2 countries. The deliberation was part of the 4th Meeting of India-Ukraine Working Group on Trade and Economic Cooperation (IU-WGTEC) held in New Delhi. Both the countries should share the mandatory requirement to be fulfilled at the time of exporting or importing of any product to promote trade. Both the countries have agreed to cooperate in the fields of small and medium entrepreneurship, Leather, Tobacco, Gems and Jewellery, Tea Sector, Industry, Public-Private Partnership (PPP) and Investment. The 5th meeting of the Working Group on Trade, Economic and Cooperation (IU-WGTEC) will be held in Kyiv, Ukraine.
2. Over which river does the Indian Army construct longest suspension bridge named ‘Maitri’?

A. Brahmaputra River B. Yamuna River C. Indus River D. Godavari River E. None of these

Answer: Option (C)
Explanation: The Indian Army has achieved a record-breaking feat by constructing ‘Maitri’, the 260-feet longest suspension bridge over the Indus river in the Leh-Ladakh region in just 40 days. The combat engineers belonging to ‘Sahas our Yogyata’ regiment of ‘Fire and Fury Corps’ of the Indian Army undertook the construction of ‘Maitri’.500 tonnes of bridge equipment and construction material was ferried to build this bridge. The bridge “Maitri” was inaugurated on 1st April, ’19 by Naik Phunchok Angus (Retd.), an 89-year-old war veteran along with war veterans of 1947-1948, 1962, 1971 and 1999 in the presence of Lt. Gen Yogesh Kumar Joshi and General Officer Commanding ‘Fire and Fury Corps’.Since the term ‘Maitri’ symbolizes friendship, the bridge has been named ‘Maitri bridge’ so as to symbolize the excellent civil-military relations between the military personnel and the locals of the Leh-Ladakh region. The bridge will provide connectivity to the remote areas of Ladakh and help residents of the largest villages in Ladakh, namely, Choglamsar, Stok and Chucho.
3. Who was the first Indian President to visit Bolivia?

A. A.P.J Abdul Kalam B. Ram Nath Kovind C. Pratibha Patil D. Pranab Mukherjee E. None of these

Answer: Option (B)
Explanation: President Ram Nath Kovind was on a visit of Bolivia from 28th to 30th March 2019. He reached Santa Cruz, Bolivia on the second leg of his three-nation visit to Croatia, Bolivia, and Chile. This is the first visit by an Indian President to Bolivia.
4. How much million was granted by India to Bolivia for enhancing financial development projects recently?

A. The US $50 million B. The US $150 million C. The US $200 million D. The US $100 million E. None of these

Answer: Option (D)
Explanation: India has offered the US $100 million Line of Credit to Bolivia after Ram Nath Kovind held productive talks with his Bolivian counterpart Evo Morales regarding a number of bilateral issues such as the economy, space and IT. Both leaders have also committed to strengthening political and economic engagement. The amount will be offered to enhance financing development projects.
5. Which country has signed the framework agreement to join the International Solar Alliance recently?

A. Bolivia B. Zambia C. Vanuatu D. Tonga E. None of these

Answer: Option (A)
Explanation: Bolivia has signed the agreement to join the International Solar Alliance. The main motive behind this is to establish a coalition of solar resource-rich countries to address the identified gaps in their energy requirements through a common approach. India, with a target to produce 100 GW of solar energy by 2022, would account for a tenth of ISA’s goal.
6. How many MoU’s are signed between India and Bolivia during President Ram Nath Kovind’s visit?

A. 6 B. 7 C. 8 D. 9 E. None of these

Answer: Option (C)
Explanation: During Ram Nath Hovind's visit to Bolivia, India and Bolivia have signed 8 MoUs. These MoUs were signed in the fields of culture, mining, Visa waiver arrangement for diplomats, the exchange between diplomatic academies, space, traditional medicine, the establishment of Centre of Excellence in IT and Bi-Oceanic Railway project.
7. Find the name of an African country, which was outed by India to set up the India-Africa Institute of Agriculture and Rural Development (IAIARD).

A. Uganda B. Malawi C. Nigeria D. Tanzania E. None of these

Answer: Option (B)
Explanation: On 3rd April 2019, India has signed an agreement with National Bank for Agriculture and Rural Development Consultancy Service (NABCONS) for setting up India-Africa Institute of Agriculture and Rural Development (IAIARD) in Malawi to enhance capacity in the areas of agro-financing and entrepreneurship development for African countries. In this Institute, the trainees from Malawi and other African countries will be trained in the areas of micro-financing and agro-financing. This agreement will strengthen the bilateral relations between India and Malawi with the African Union.
8. According to U.S based Health Effects Institute(HEI)’s State of Global Air 2019 report, which of the following factor is the third highest cause of death in India?

A. Water Pollution B. Poverty C. Food Crisis D. Air pollution E. None of these

Answer: Option (D)
Explanation: On 3rd April 2019, as per the State of Global Air 2019 report, over 1.2 million people died in India due to air pollution in 2017. Nearly 5 million deaths from stroke, diabetes, heart attack, lung cancer, and chronic lung disease in 2017 happened due to the overall long-term exposure to outdoor and indoor air pollution.Out of these 5 million deaths, 3 million deaths are directly attributed to PM2.5, half of which is from India and China together. Air pollution is the third highest cause of death among all health risks in India, and the life of a South Asian child born today will be shortened by two years and six months growing up in current high levels of air pollution, while the global life expectancy loss is 20 months.US-based organization Health Effects Institute (HEI) released this report.
9. Name the investment and wealth management platform of the mobile payments company, which received SEBI approval for Stock Broking recently.

A. Paytm Money B. Amazon Payments C. WorldPay D. WePay E. None of these

Answer: Option (A)
Explanation: On 2nd April 2019, One97 Communications-owned Paytm Money, the wealth management arm of Paytm, has got approval from the Securities and Exchange Board of India (SEBI) to start offering a stock broking service such as the ability to trade in equities and cash segments, derivatives, and exchange-traded funds (ETFs) among other exchange-traded products Apart from this approval from SEBI, Paytm Money also got approval for its membership from Bombay Stock Exchange (BSE) & National Stock Exchange (NSE) to buy share through the Paytm Money app.
10. Which bank has received a capital of Rs. 205 crore by the government in lieu of preferential allotment of shares?

A. State Bank of India B. Bank of Maharashtra C. Indian Bank D. Canara Bank E. None of these

Answer: Option (B)
Explanation: On 30th March 2019, Government infused a capital of Rs. 205 crore into the state-owned Bank of Maharashtra in lieu of preferential allotment of shares. After the Capital infusion, the shareholding of government in Bank of Maharashtra has increased to 87.74 % from 87.01%.In this regard, the bank has issued and allotted its 15,47,16,981 equity shares at an issue price of Rs 13.25 per share to the govt.