General Awareness Quiz for Bank Mains Exams 2024-26th february

Q1. The Appointment Committee of the Cabinet (ACC) has approved (In January 2024) the appointment of which individual as the 9th Chairman of the Telecom Regulatory Authority of India (TRAI)?
(a) Rakesh Sharma
(b) Anil Kumar Lahoti
(c) Vinod Kumar Yadav
(d) Ashwani Lohani
(e) Suresh Prabhu

Q2. During the occasion of Emmanuel Macron, the French President’s visit to India for the 75th Republic Day celebrations where he was the Chief Guest, which corporation signed a Memorandum of Understanding (MoU) with Airbus Helicopters for setting up a final assembly line (FAL) in India for H125 helicopters?
(a) Reliance Industries Limited
(b) Mahindra Group
(c) Larsen & Toubro
(d) Tata Group
(e) Bharat Forge Limited

Q3. As of February 2024, Union Minister Bhupender Yadav of the Ministry of Environment, Forest and Climate Change (MoEFCC) announced the addition of 5 wetlands from India to the Ramsar list. With this latest addition, how many Ramsar sites does India now have in total?
(a) 75
(b) 80
(c) 85
(d) 90
(e) 95

Q4. The inaugural edition of the India-Saudi Arabia joint military exercise, “SADA TANSEEQ”, began on 29 January 2024 and is set to continue until 10 February 2024. In which Indian state is this military exercise being conducted?
(a) Gujarat
(b) Punjab
(c) Rajasthan
(d) Uttar Pradesh
(e) Madhya Pradesh

Q5. In October 2023, Google partnered with which organization to take down illegal digital lending apps on Play Store in India?
(a) Reserve Bank of India (RBI)
(b) Securities and Exchange Board of India (SEBI)
(c) Ministry of Electronics and Information Technology (MeitY)
(d) Fintech Association for Consumer Empowerment (FACE)
(e) Cyber Crime Coordination Centre

Q6. Which bank became (In October 2023) the first bank in India to issue an ‘Open Network for Digital Commerce (ONDC) Network Gift Card’?
(a) HDFC Bank
(b) State Bank of India
(c) ICICI Bank
(d) Axis Bank
(e) YES Bank

Q7. In the Union Budget, what is the term used for the difference between total revenue and total expenditure?
(a) Fiscal Deficit
(b) Revenue Deficit
(c) Primary Deficit
(d) Budgetary Deficit
(e) Capital Deficit

Q8. In January 2024, which company received a certificate of authorization from the Reserve Bank of India (RBI) to operate as an ‘Online Payment Aggregator’?
(a) Flipkart Payments Pvt. Ltd.
(b) Amazon Pay India
(c) Paytm Payments Services Ltd.
(d) Zomato Payments Private Limited
(e) Swiggy Payments Pvt. Ltd.

Q9. What is the maximum deposit amount insured by the Deposit Insurance and Credit Guarantee Corporation (DICGC) in India as of the latest amendment in 2020?
(a) ₹1,00,000
(b) ₹2,00,000
(c) ₹5,00,000
(d) ₹10,00,000
(e) ₹15,00,000

Q10. As per the Insurance Regulatory and Development Authority of India (IRDAI), what is the primary purpose of ‘Solvency Margin’ in the insurance industry?
(a) To ensure that insurance companies have sufficient reserves to meet their future liabilities
(b) To regulate the premium rates charged by insurance companies
(c) To protect the interests of the policyholders by ensuring a limit on the commission paid to agents
(d) To provide a measure of the financial stability and health of an insurance company
(e) To ensure that insurance companies invest a minimum percentage of their assets in government securities

Solutions

S1. Ans. (b)
Sol. Anil Kumar Lahoti, the former railway board chairman and chief executive officer (CEO), has been approved by the Appointment Committee of the Cabinet (ACC) as the 9th Chairman of the Telecom Regulatory Authority of India (TRAI).
He will succeed PD Vaghela, who retired from the post on 30th September 2023. The post has been vacant for around 4 months.

S2. Ans. (d)
Sol. The Tata Group entered into a Memorandum of Understanding (MoU) with Airbus Helicopters during the visit of Emmanuel Macron, the President of France, to India.
This MoU is for establishing a final assembly line (FAL) for H125 helicopters in India, marking a significant step in the aviation sector and boosting the ‘Make in India’ initiative​.

S3. Ans. (b)
Sol. In February 2024, Union Minister Bhupender Yadav announced the addition of 5 new wetlands from India to the Ramsar list, which are internationally recognized as wetlands of importance under the Ramsar Convention.
With this latest addition, the total number of Ramsar sites in India has increased from 75 to 80, highlighting India’s commitment to conserving its wetland ecosystems.

S4. Ans. (c)
Sol. The inaugural edition of the “SADA TANSEEQ” India-Saudi Arabia joint military exercise is being conducted in Rajasthan.
This exercise, which started on 29 January 2024 at Mahajan, emphasizes the growing defense cooperation between India and Saudi Arabia, aiming to enhance interoperability and strategic collaboration between the armed forces of both countries.

S5. Ans. (d)
Sol. In October 2023, Google partnered with the Fintech Association for Consumer Empowerment (FACE), an industry association and self-regulatory organization for digital lenders, to take down illegal digital lending apps on the Play Store in India.
This initiative aims to protect consumers by identifying and removing apps that offer predatory lending practices, ensuring a safer and more reliable digital lending environment.

S6. Ans. (e)
Sol. YES Bank became the first bank in India to issue an ‘Open Network for Digital Commerce (ONDC) Network Gift Card’.
This initiative aims to revolutionize the shopping experience by enabling seamless transactions across any ONDC-compatible platform, thus promoting a more inclusive and accessible digital commerce ecosystem in India.

S7. Ans. (a)
Sol. The term used for the difference between total revenue and total expenditure in the Union Budget is Fiscal Deficit.
Fiscal Deficit occurs when a government’s total expenditures exceed the revenue that it generates, excluding money from borrowings.
This indicator is often cited as a measure of the financial health of a government, reflecting how much it needs to borrow to meet its expenses.

S8. Ans.(d)
Sol. Zomato Payments Private Limited (ZPPL) has been granted a certificate of authorization from the Reserve Bank of India (RBI) to operate as an ‘Online Payment Aggregator (PA)’ with effect from 24th January 2024.Top of Form

S9. Ans. (c)
Sol. The Deposit Insurance and Credit Guarantee Corporation (DICGC), a subsidiary of the Reserve Bank of India, insures all deposits such as savings, fixed, current, recurring, etc., up to a limit of ₹5,00,000 per depositor per bank as of the latest amendment in 2020.
This was increased from the previous insurance cover of ₹1,00,000 per depositor, aiming to enhance the level of insurance coverage for depositors.

S10. Ans. (a)
Sol. The primary purpose of the ‘Solvency Margin’ in the insurance industry, as per IRDAI regulations, is to ensure that insurance companies maintain enough reserves to meet their future liabilities.
This requirement is crucial for the financial stability and long-term viability of insurance companies, ensuring they have sufficient assets to cover their obligations towards policyholders at all times.