General Awareness Quiz 12th July- Question and Answer for Bank Exam

The General Awareness section constitutes a major part of a competitive examination and needs your undivided attention. The questions which are asked in the exam are generally framed on National News, International News, State News, Sports, Awards, Summits, Schemes, Books & Authors, Ranks & Reports, Important Days, Economy, Defence, Science & Technology etc. To excel in this section of the competitive examinations you are required to cover the above area.

To complement your preparation for General Awareness section of the upcoming exams like SBI Clerk Mains and RBI Assistant Mains we are providing you General Awareness Quiz of 12th July 2020 covering the following topics: Regional Rural Banks, Soft-Loans, BRICS, International Development Association, NIBM.

Q1. Regional Rural Banks (RRBs) were established in 1975 under the provisions of the Ordinance promulgated on the 26th September 1975 and followed by which act?
(a) Companies Act, 1956
(b) RRBs Act, 1976
(c) RBI Act, 1935
(d) Banking Regulation Act, 1949
(e) None of the above

Q2. Name the agency, which is an agency to provide ‘soft-loans’ to developing countries?
(a) Asian Infrastructure Investment Bank (AIIB)
(b) Organization of the Petroleum Exporting Countries (OPEC)
(c) Asian Development Bank (ADB)
(d) World Trade Organization (WTO)
(e) International Development Association (IDA)

Q3. The first Board of Governors meeting of the BRICS New Development Bank was held in ____________ on July 7, 2015 where the Bank formally came into existence as a legal entity.
(a) Brazil
(b) Russia
(c) South Africa
(d) India
(e) China

Q4. With an initial funding of $912.7 million, International Development Association (IDA) was launched on-
(a) 24th September 1960
(b) 17th December 1920
(c) 22nd November 1959
(d) 23rd May 1919
(e) 15th October 1945

Q5. NIBM is part of the grand vision of giving a new direction to the banking industry in India and making the industry a more cost-effective instrument for national development. NIBM stands for-
(a) Non-Organisation Institute of Bank Management
(b) National Institute of Bureau Management
(c) National Investment of Bank Management
(d) National Institute of Bank Management
(e) None of the above

Solutions

S1. Ans.(b)
Sol. Regional Rural Banks were set up by the Government of India under Regional Rural Banks act 1976.

S2. Ans.(e)
Sol. International Development Association (IDA) is an agency to provide ‘soft-loans’ to developing countries.

S3. Ans.(b)
Sol. The inaugural meeting of the Board of Governors of the NDB was chaired by Russia and held on the eve of the Ufa Summit on 7 July 2015, when the Bank formally came into existence as a legal entity.

S4. Ans.(a)
Sol. With an initial funding of $912.7 million, IDA was launched on September 24, 1960 with 15 signatory countries – Australia, Canada, China, Germany, India, Italy, Malaysia, Norway, Pakistan, Sudan, Sweden, Thailand, United Kingdom, United States, and Vietnam.

S5. Ans.(d)
Sol. NIBM stands for National Institute of Bank Management.

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