General Awareness Quiz for Bank Mains Exams 2023-06th November

Q1. If the Working Capital Margin (WMA) exceeds 90 days, what will be the interest rate applied?

(a) Repo rate -2%
(b) Repo rate – 1%
(c) Repo rate + 1%
(d) Repo rate + 2%
(e) Repo rate + 3%

Q2.  Earlier, the RBI had full ownership of NHB and NABARD. But in April 2019, the Government brought the entire shareholding in these institutions from the RBI. Which of the following is NOT a subsidiary of the Reserve Bank of India (RBI)?

(a) Deposit Insurance and Credit Guarantee Corporation of India (DICGC)
(b) Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL)
(c) Reserve Bank Information Technology Private Limited (ReBIT)
(d) National Payments Corporations of India (NPCI)
(e) Reserve Bank Innovation Hub (RBIH)

Q3. President Droupadi Murmu officially unveiled the Gujarat legislative assembly’s Digital House project, the National e-Vidhan Application (NeVA), in Gandhinagar. Who is the current governor of Gujarat?

(a) O P Kohli
(b) Anandiben Patel
(c) Rajendra Vishwanath Arlekar
(d) Acharya Devvrat
(e) Ramesh Bias

Q4. Which section of the RBI Act, of 1934 was amended to constitute a Monetary Policy Committee?

(a) Section 45ZB
(b) Section 54ZB
(c) Section 34ZB
(d) Section 45BZ
(e) Section 54BZ

Q5. Which Indian organization has recently (In Feb 2023) acquired the strategic Israeli port of Haifa for USD 1.2 billion?

(a) Adani Group
(b) Hinduja Group
(c) Reliance Industries
(d) Indian Oil Corporation
(e) None of the above

Q6. The insurance coverage under Pradhan Mantri Jan Arogya Yojana has recently been doubled by which state government, increasing it from Rs. 5 lakhs to Rs. 10 lakhs?

(a) Bihar
(b) Tamil Nadu
(c) Karnataka
(d) Haryana
(e) Gujarat

Q7. Dr S Jaishankar, External Affairs Minister (EAM) recently visited Tanzania and co-chaired the 10th session of the India-Tanzania Joint Commission on Economic, Technical, and Scientific Cooperation, in Dar-es-Salaam. He has been elected unopposed to the Rajya Sabha from which state?

(a) Maharashtra
(b) Tamil Nadu
(c) Karnataka
(d) Gujarat
(e) Uttar Pradesh

Q8. What is the Net Asset Value (NAV) of a mutual fund?

(a) The total number of units issued by the fund
(b) The total assets of the fund minus its liabilities, divided by the number of outstanding units
(c) The maximum amount an investor can invest in a mutual fund
(d) The annual interest rate offered by the fund
(e) None of the above

Q9. What is a mutual fund?
(a) A type of fixed deposit account
(b) A collective investment scheme that pools money from investors to invest in a diversified portfolio of stocks, bonds, or other securities
(c) A government-sponsored savings program
(d) A type of insurance policy
(e) None of the above

Q10. What does GDP stand for in the context of an economy?
(a) Gross Domestic Product
(b) Gross Domestic Profit
(c) Global Development Policy
(d) Government Development Plan
(e) Grand Domestic Production

Solutions

S1. Ans. (d)
Sol. If the WMA exceeds 90 days, it would be treated as an overdraft (the interest rate on overdrafts is 2 percentage points more than the repo rate).

S2. Ans. (d)
Sol. The fully owned subsidiaries of the RBI are:

• Deposit Insurance and Credit Guarantee Corporation of India (DICGC),
• Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL),
• Reserve Bank Information Technology Private Limited (ReBIT),
• Indian Financial Technology and Allied Services (IFTAS), and
• Reserve Bank Innovation Hub (RBIH).

S3. Ans. (d)
Sol. Acharya Devvrat is the current governor of Gujarat.
Details:

The National e-Vidhan Application (NeVA), a Unicode-compliant software, has been developed by the Union Parliamentary Affairs Ministry with the primary goal of making all legislative work and data available online for both citizens and Assembly members

S4. Ans. (a)
Sol. The Monetary Policy Committee (MPC) in India was constituted following the amendment of Section 45ZB of the RBI Act, 1934.

S5. Ans. (a)
Sol. Adani Group has acquired the strategic Israeli port of Haifa for USD 1.2 billion.
Details:

• The deal was signed by Adani Group chairman Gautam Adani in the presence of Israeli PM Benjamin Netanyahu.
• The Haifa Port is the second largest port in Israel in terms of shipping containers and the largest in terms of shipping tourist cruise ships.

S6. Ans. (e)
Sol. The state government of Gujarat has doubled the insurance cover under the Pradhan Mantri Jan Arogya Yojana (PMJAY) starting from 11th July.
Details:

• The State Health Minister Rushikesh Patel informed that the decision will benefit nearly 1.78 crore Ayushman Bharat cardholders in the state.
• The beneficiaries will get free of cost medical treatment from over two thousand government hospitals and 795 private hospitals in the state under PMJAY.

S7. Ans. (d)
Sol. External Affairs Minister Dr S Jaishankar has been declared elected unopposed to Rajya Sabha from Gujarat.

• EAM visited the water project in the Kibamba district of Dar-es-Salaam (Tanzania), which was built with Indian assistance that supplies water to Dar es Salaam.
• He was joined by Jumaa Aweso, the Minister of Water and Irrigation of Tanzania.

S8. Ans. (b)
Sol. The total assets of the fund minus its liabilities, divided by the number of outstanding units.

S9. Ans. (b)
Sol. A collective investment scheme that pools money from investors to invest in a diversified portfolio of stocks, bonds, or other securities.

S10. Ans. (a)
Sol. Gross Domestic Product
Details:
GDP represents the total monetary value of all goods and services produced within a country’s borders during a specific time period. It is a key indicator of an economy’s health and performance.