General Awareness Quiz for Bank Mains Exams 2024-14th february

Q1. Which bank signed a Memorandum of Understanding (MoU) with Gujarat Cooperative Milk Marketing Federation Ltd (GCMMFL), popularly known as Amul, to provide financial services to Amul’s retailers, wholesale dealers, area milk distributors, and exclusive Amul preferred outlets under the MUDRA scheme?

(a) State Bank of India
(b) HDFC Bank
(c) ICICI Bank
(d) Punjab National Bank
(e) Axis Bank

Q2. In August 2023, the Securities and Exchange Board of India (SEBI) announced the establishment of the Corporate Debt Market Development Fund (CDMDF). Who is the first woman to lead the Securities and Exchange Board of India (SEBI)?

(a) Arundhati Bhattacharya
(b) Zia Mody
(c) Madhabi Puri Buch
(d) Chanda Kochhar
(e) Naina Lal Kidwai

Q3. The Defence Research & Development Organisation (DRDO) celebrated its Foundation Day on 1st January 2024. Which foundation day was it?

(a) 64th Foundation Day
(b) 65th Foundation Day
(c) 66th Foundation Day
(d) 67th Foundation Day
(e) 68th Foundation Day

Q4. Which Indian cricketer won the Pubity Sport Men’s Athlete of the Year 2023 Award by securing 78 percent of the total votes in the final online poll, defeating Argentine footballer Lionel Messi who received the remaining 22 percent?

(a) Rohit Sharma
(b) M.S. Dhoni
(c) Virat Kohli
(d) Jasprit Bumrah
(e) Shikhar Dhawan

Q5. Tata Power acquired a 100% equity stake in which special purpose vehicle (SPV), set up by PFC Consulting Limited, a subsidiary of Power Finance Corporation, for Rs 18.6 crore?

(a) Rajasthan Renewable Energy Corporation Limited
(b) Bikaner III Neemrana II Transmission Limited
(c) Gujarat Energy Transmission Corporation
(d) Karnataka Power Transmission Corporation Limited
(e) Haryana Vidyut Prasaran Nigam Limited

Q6. In the context of insurance, what does the term “Underwriting” refer to?

(a) The process of evaluating, defining, and pricing insurance risk
(b) The act of paying out claims to policyholders
(c) The method of advertising and selling insurance policies
(d) The routine administrative work in an insurance company
(e) The legal process of transferring policy ownership

Q7. What is ‘Reinsurance’ in the insurance industry?

(a) The process of transferring a portion of risk from one insurer to another
(b) The method of insuring the insurance company itself against losses
(c) The act of selling insurance policies to other insurance companies
(d) The practice of providing insurance to high-risk individuals
(e) The system of dividing insurance policies into smaller packages

Q8. Which Indian electric two-wheeler (e2W) company became the first to get eligible for the Production-Linked Incentive (PLI) scheme after receiving approval from the Ministry of Heavy Industries (MHI)?

(a) TVS Motor Company
(b) Bajaj Auto
(c) Hero Electric
(d) Ola Electric Mobility Private Limited
(e) Ather Energy

Q9. What is the ‘Grace Period’ in an insurance policy?

(a) The period during which an insurance policy remains active after a missed payment
(b) The time allowed for filing a claim after an event occurs
(c) The initial period when no claims are accepted after a policy is issued
(d) The time between the issuance of the policy and the start of coverage
(e) The duration for which premiums are paid without interest

Q10. Partition Horrors Remembrance Day, or ‘Vibhajan Vibhishika Smriti Diwas,’ is observed annually across India on 14th August to remember the struggles and sacrifices during the partition of India into India and Pakistan in 1947. In which year was this day first observed?

(a) 2019
(b) 2020
(c) 2021
(d) 2018
(e) 2022

Solutions

S1. Ans. (d)
Sol. Punjab National Bank (PNB) signed an MoU with Gujarat Cooperative Milk Marketing Federation Ltd (GCMMFL), also known as Amul. This agreement is designed to support Amul’s vast network, including retailers, wholesale dealers, and distributors, by providing them with financial services under the MUDRA scheme.

S2. Ans. (c)
Sol. Madhabi Puri Buch is the first woman to lead the Securities and Exchange Board of India (SEBI). She has taken on the role of chairperson, marking a significant milestone in the history of this crucial financial regulatory authority in India.

S3. Ans. (c)
Sol. On 1st January 2024, DRDO celebrated its 66th Foundation Day, marking over six decades of contributions to defense research and development in the country.
The Defence Research & Development Organisation (DRDO), which is the Research and Development wing of the Ministry of Defence in India, was established in 1958.

S4. Ans. (c)
Sol. Indian cricketer Virat Kohli won the Pubity Sport Men’s Athlete of the Year 2023 Award. In the final online poll, Kohli clinched a significant victory by securing 78 percent of the total votes, outperforming Argentine football superstar Lionel Messi, who received the remaining 22 percent of the votes. This accolade highlights Kohli’s immense popularity and recognition in the world of sports.

S5. Ans. (b)
Sol. Tata Power has acquired a 100% equity stake in Bikaner III Neemrana II Transmission Limited, a special purpose vehicle (SPV) established by PFC Consulting Limited, which is a subsidiary of Power Finance Corporation. This acquisition, valued at Rs 18.6 crore, signifies Tata Power’s expansion and strengthening in the energy transmission sector.

S6. Ans. (a)
Sol. Underwriting in insurance is the process of evaluating, defining, and pricing the risk associated with an insurance policy.
It involves assessing the risk profile of potential clients to determine coverage terms and premium rates.

S7. Ans. (a)
Sol. Reinsurance is the practice wherein an insurance company transfers a portion of its risk to another insurance company. This helps insurance companies to mitigate risk and protect themselves from large claims.

S8. Ans. (d)
Sol. Ola Electric Mobility Private Limited (Ola) has become the first Indian electric two-wheeler (e2W) company to be eligible for the Production-Linked Incentive (PLI) scheme. This was made possible after the company received approval from the Ministry of Heavy Industries (MHI), marking a significant milestone in its growth and the broader push towards electric mobility in India.

S9. Ans. (a)
Sol. The ‘Grace Period’ in insurance refers to the time following the due date of a premium during which the policy and its full benefits remain in force despite the premium not being paid.

S10. Ans. (c)
Sol. Partition Horrors Remembrance Day, known as ‘Vibhajan Vibhishika Smriti Diwas’ in Hindi, was first observed in 2021.
This day is commemorated annually on 14th August across India to remember the struggles and sacrifices during the partition of India into India and Pakistan in 1947. The day serves as a reminder of the pain and suffering endured during the partition and honors the resilience and sacrifice of those affected.