Q1. In Notice Money Market, the tenor of the transactions is from ________
(a) 2-7 days
(b) 2-14 days
(c) 2-21 days
(d) 2-28 days
(e) 2-90 days
Sol. In money market, the amount that is lent for one day is known as “call money” and, if it exceeds one day or two days to 14 days is referred to as “notice money.”
Q2. Name the Indian digital payment system, which has been linked to Singapore’s NETS?
(a) Freecharge
(b) JioMoney
(c) RuPay
(d) Paytm
(e) None of these
Sol. Prime Minister Narendra Modi launched three Indian digital payment systems – RuPay, BHIM app and UPI by SBI at the ‘Business, Innovation and Community Event’ in Singapore. With the launch, India’s RuPay digital payments system was linked up with Singapore’s 33-year old Network for Electronic Transfers (NETS). The move will enable RuPay users to make payments at all of NETS acceptance points across Singapore.
Q3. ___________ is a voluntary market body for the bond, money and derivatives markets.
(a) RBI
(b) SEBI
(c) IRDAI
(d) FIMMDA
(e) UIDAI
Sol. The Fixed Income Money Market and Derivatives Association of India (FIMMDA), an association of Scheduled Commercial Banks, Public Financial Institutions, Primary Dealers and Insurance Companies was incorporated as a Company under section 25 of the Companies Act,1956 on June 3rd, 1998. FIMMDA is a voluntary market body for the bond, money and derivatives markets. FIMMDA has members representing all major institutional segments of the market. The membership includes Nationalized Banks such as State Bank of India, its associate banks and other nationalized banks; Private sector banks such as ICICI Bank, HDFC Bank, IDBI Bank; Foreign Banks such as Bank of America, ABN Amro, Citibank, Financial institutions such as IDFC, EXIM Bank, NABARD, Insurance Companies like Life Insurance Corporation of India (LIC), ICICI Prudential Life Insurance Company, Birla Sun Life Insurance Company and all Primary Dealers.
Q4. Name the Kerala cartoonist who has won an international award, in the best caricature category at the 13th edition of the World Press Cartoon awards, instituted by an organization based in Lisbon, Portugal.
(a) O. V. Vijayan
(b) Thomas Antony
(c) Ravi Shankar
(d) K. Shankar Pillai
(e) P. K. Manthri
Sol. Kerala cartoonist Thomas Antony has won an international award, in the best caricature category. Antony is among the nine winners at the 13th edition of the World Press Cartoon awards, instituted by an organisation based in Lisbon, Portugal.
Q5. The Banking Ombudsman Scheme was introduced under __________ of the Banking Regulation Act, 1949 by RBI with effect from 1995.
(a) Section 25A
(b) Section 35A
(c) Section 45A
(d) Section 15A
(e) Section 55A
Sol. The Banking Ombudsman Scheme enables an expeditious and inexpensive forum to bank customers for resolution of complaints relating to certain services rendered by banks. The Banking Ombudsman Scheme is introduced under Section 35 A of the Banking Regulation Act, 1949 by RBI with effect from 1995.
Q6. Name the Former Himachal Pradesh governor and Congress leader who had passed away recently in Indore.
(a) Urmila Singh
(b) V. S. Ramad
(c) Vishnu Sadashiv Kokje
(d) Hokishe Sema
(e) Mahaveer Prasad
Sol. Former Himachal Pradesh governor and Congress leader Urmila Singh died due to prolonged illness at a private hospital in Indore.
Q7. ___________ is an electronic fund transfer system that operates on a Deferred Net Settlement (DNS) basis which settles transactions in batches.
(a) NEFT
(b) RTGS
(c) NPCI
(d) BBPS
(e) IMPS
Sol. National Electronics Funds Transfer (NEFT) is an electronic fund transfer system that operates on a Deferred Net Settlement (DNS) basis which settles transactions in batches.
Q8. Name of the country, which was the global host nation for the 43rd edition of World Environment Day 2018?
(a) Russia
(b) Canada
(c) Japan
(d) China
(e) India
Sol. Prime Minister Narendra Modi has addressed the global celebrations of World Environment Day 2018 on 05th June in New Delhi. Prime Minister also visited the exhibition set up on the occasion, themed ‘Beat Plastic Pollution’. India was the global host nation for the 43rd edition of this event.
Q9. The Reserve Bank of India (RBI) is vested with the responsibility of conducting monetary policy. This responsibility is explicitly mandated under which act?
(a) Companies Act, 1956
(b) Negotiable Instruments Act, 1881
(c) Reserve Bank of India Act, 1934
(d) Banking Regulation Act, 1949
(e) None of the given options is true
Sol. The Reserve Bank of India (RBI) is vested with the responsibility of conducting monetary policy. This responsibility is explicitly mandated under the Reserve Bank of India Act, 1934.
Q10. Who among the following is the world’s highest-paid athletes, according to a Forbes’ compilation?
(a) Rohit Sharma
(b) PV Sindhu
(c) Virat Kohli
(d) MS Dhoni
(e) Mithali Raj
Sol. India cricket captain Virat Kohli is among the world’s highest-paid athletes, according to a Forbes’ compilation topped by American boxing champion Floyd Mayweather. Kohli, the only sportsperson from India to be featured in the list, is ranked 83rd with earnings of USD 24 million.
Q11. The Postal Service Board is ________ of the Department of Posts.
(a) apex management body
(b) regulatory management body
(c) financial management body
(d) statutory authority
(e) None of the given options is true
Sol. The Postal Service Board, the apex management body of the Department of Posts, comprises the Chairman and six Members.
Q12. The 22nd edition of the trilateral naval exercise “Malabar 2018” held between India, Japan and which country?
(a) Russia
(b) Israel
(c) China
(d) South Korea
(e) USA
Sol. The 22nd edition of the Malabar trilateral naval exercise of the US, Japan and India conducted at Guam in the Pacific Ocean.
Q13. The Somasila Dam is built across the Penna River near Somasila in Nellore district of which state?
(a) Kerala
(b) Telangana
(c) Karnataka
(d) Andhra Pradesh
(e) Odisha
Sol. The Somasila Dam is a dam constructed across the Penna River near Somasila, Nellore district, Andhra Pradesh, India.
Q14. Eravikulam National Park is located in which state?
(a) Karnataka
(b) Tamil Nadu
(c) Andhra Pradesh
(d) Telangana
(e) Kerala
Sol. Spread across the area of 97 sq. km amidst the picturesque Devan Hills, Eravikulam National Park,Kerala is an amazing place to witness the biodiversity of shola-grassland ecosystem.
Q15. Rourkela is a planned city located in the northern part of Odisha and it is situated on which river?
(a) Godavari
(b) Brahmani
(c) Brahmaputra
(d) Jhelum
(e) None of these
Sol. Rourkela is a planned city located in the northern part of Odisha. It is situated on the bank of river Brahmani.
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