Important Current Affairs Quiz for Bank Mains Exams 2022- 22nd July

Q1. The government has approved how much per cent rate of interest on employees’ provident fund (EPF) deposits for 2021-22?
(a) 8.4%
(b) 9.2%
(c) 8.1%
(d) 7.8%
(e) None of the above

Q2. Which country overtook China to become India’s top trading partner in 2021-22, reflecting strong economic ties between the two countries?
(a) Australia
(b) United States
(c) Singapore
(d) Japan
(e) None of the above

Q3. The 47th meeting of the GST Council was held on June 28 and 29, 2022 in which Indian city which was chaired by Finance Minister Nirmala Sitharaman?
(a) New Delhi
(b) Mumbai
(c) Bangalore
(d) Srinagar
(e) None of the above

Q4. Which of the following entity has formed various committees through the General Insurance Council (GIC) to suggest reforms?
(a) Ministry of Finance
(b) IRDAI
(c) SEBI
(d) NITI Aayog
(e) None of the above

Q5. The World Bank has slashed its growth forecast for India for the current financial year to what percent?
(a) 7.5%
(b) 8.1%
(c) 6.8%
(d) 9.2%
(e) None of the above

Q6. Fitch Ratings changed India‘s outlook from __________to________, noting diminishing downside risks to medium-term growth as a result of the country’s strong economic recovery and the easing of financial sector problems.
(a) Stable, Growing
(b) Stable, Negative
(c) Negative, Stable
(d) Negative, Outperform
(e) None of the above

Q7. According to official figures, the number of subscribers to PFRDA‘s two flagship pension schemes increased by more than 24% year on year to 5.32 crore as of May 31, 2022. Where HQ of PFRDA is located?
(a) Kolkata
(b) New Delhi
(c) Mumbai
(d) Bangalore
(e) None of the above

Q8. According to data released by the Ministry of Statistics and Programme Implementation, India’s headline retail inflation rate eased to what percent in May 2022?
(a) 6.34 percent
(b) 8.18 percent
(c) 7.04 percent
(d) 5.72 percent
(e) None of the above

Q9. The EASENext program’s EASE 5.0 ‘Common reforms agenda’ was designed for Public Sector Banks and was introduced by Minister of Finance and Corporate Affairs Nirmala Sitharaman through video conference in New Delhi. What is the meaning of ‘S’ in EASE?
(a) Service
(b) Safety
(c) Secured
(d) System
(e) None of the above

Q10. India’s wholesale inflation surged at the highest since September 1991 due to high price pressure in food and fuel overwhelmed a moderation in the dominant manufactured product segment. At what percent in May 2022 reached WPI?
(a) 15.08%
(b) 12.78%
(c) 12.08%
(d) 15.88%
(e) None of the above
L1Difficulty 2
QTags News of Economic Affairs
QCreator SAMEER SRIVASTAVA

Solutions

S1. Ans(c)
Sol. The government has approved 8.1 per cent rate of interest on employees’ provident fund (EPF) deposits for 2021-22.

S2.Ans (b)
Sol. The United States overtook China to become India’s top trading partner in 2021-22, reflecting strong economic ties between the two countries.

S3. Ans(d)
Sol. The 47th meeting of the GST Council will be held on June 28 and 29, 2022 in Srinagar. The GST Council is chaired by Finance Minister Nirmala Sitharaman.

S4.Ans (b)
Sol. The Insurance Regulatory and Development Authority of India (IRDAI) has formed various committees through the General Insurance Council (GIC) to suggest reforms.

S5. Ans(a)
Sol. The World Bank has slashed its growth forecast for India for the current financial year to 7.5 percent.

S6. Ans(c)
Sol. Fitch Ratings upgraded India‘s outlook from Negative to Stable, noting diminishing downside risks to medium-term growth as a result of the country’s strong economic recovery and the easing of financial sector problems.

S7. Ans(b)
Sol. The HQ of the Pension Fund Regulatory and Development Authority (PFRDA) is located in New Delhi.

S8. Ans(c)
Sol. According to data released by the Ministry of Statistics and Programme Implementation, India’s headline retail inflation rate eased to 7.04 percent in May 2022.

S9. Ans(a)
Sol. From FY19 through FY22, Enhanced Access and Service Excellence-EASE evolved over four year editions, catalysing improvements in a variety of areas in Public Sector Banks.

S10. Ans(d)
Sol. Wholesale price inflation spiked to 15.88% in May, the highest since September 1991 as a surge in price pressure in food and fuel.