Current Affairs Quiz-18 August 2017

Hello friends, Current Affairs questions help in testing whether the aspirants are aware of the day-to-day happenings around them or not. The aspirants preparing for the forthcoming competitive examinations need to have sound knowledge of the recent events and happenings that created news and grabbed the attention of the people around the world as the same is an integral part of almost all the competitive and recruitment examinations.

In this quiz, you will get 16 questions. Attempt all questions. Answer Key is given at the end of the post.

1. The Sarva Shiksha Abhiyan (SSA) and United Nations Children’s Fund (UNICEF) joined hands in June 2017 to start a unique project—‘ Aao Angrezi Seekhein’ (come let’s learn English). The first of its kind initiative was started in:

A. Uttar Pradesh
B. Madhya Pradesh
C. Bihar
D. Assam

Continue reading Current Affairs Quiz-18 August 2017

5-Minute Challenge- How much can you Score?

Hello friends, till date we are having quizzes on our Facebook page. Now it’s time to revise and challenge yourself.

How much can you score in 5 minutes? It’s a new series of practice in which you have limited time to answer like a live exam.

Instructions for you to remember:

  1. There are 10 Questions
  2. Each correct answer carries one mark
  3. There is also a negative marking. One mark will be deducted for each wrong answer
  4. You need minimum 70% mark to pass this quiz
  5. You have five minutes to answers all the questions
  6. After you submit or time expires, you will see your result
  7. You can click on “Review Answers” to know the correct answer and its explanation
  8. Click on Next Page to go to next question.
  9. If you see only the link, please click on it to open the quiz.

I hope you will enjoy it. Best of luck!!

https://www.flexiquiz.com/SC/N/ec_quiz01

Current Affairs Micro Quiz-14 Questions with Answers-08 August 2017

1. The metro system recently recongnised as world’s first green metro system is?

A.  Lyon Metro, France
B. Shenzhen Metro, China
C. Delhi Metro, India
D.  Toronto subway, Canada

2. Government agency Defence Research and Development Organisation (DRDO) has recently developed an unmanned tank that can remotely operate and has named it

A. ‘Muntra’
B. ‘SARGE’
C. ‘Warrior’
D. ‘Uran’

3. Which of the following App was launched recently for providing ocean information services, dissemination of alerts towards the livelihood of a coastal community as well as their safety at Sea?

A. Samudra Alert
B. Sagar Vani
C. Samudra Vani
D. Sagar Samadhan

4. Union Minister of State (Independent Charge) for Minority Affairs & Parliamentary Affairs Shri Mukhtar Abbas Naqvi recently launched the “Jiyo Parsi Publicity Phase-2”. The main objective of the “Jiyo Parsi” scheme is to

A. provide a global platform for Parsi population to get together
B. provide economic support to Parsi population
C. reverse the declining trend of Parsi population
D. None of the above

5. The World Bank is headquartered in: 

A. Paris, France
B. Zurich, Switzerland
C. London, UK
D. Washington, D.C., USA

6. As per reports, which of the following international organization has accepted the mediator role between India and Pakistan over two of India’s hydroelectricity projects, namely Kishenganga and Ratle, under the 1960 Indus Waters Treaty (IWT)?

A. International Court of Justice
B. United Nations Environment Programme
C. International Energy Forum
D. World Bank

7. This country has made a historic breakthrough by successfully producing natural gas from methane hydrate, also known as “flammable ice”:

A. Canada
B. China
C. United States
D. Russia

8. On July 31, 2017, the Rajya Sabha passed the Constitution (123rd Amendment) Bill, 2017. The bill provides for:

A. granting the National Commission on Backward Classes (NCBC) constitutional status
B.  amending the Constitution (Scheduled Castes) Order, 1950 and the Constitution (Pondicherry) Scheduled Castes Order, 1964
C. outlining certain guidelines for running co-operative societies
D.  a minimum of one-third of the total number of seats filled by direct elections in every Municipality shall be reserved for women

9. India won the Division ‘B’ of FIBA Women’s Asia Cup 2017 by defeating?

A. Kazakhstan
B. Lebanon
C. Fiji
D. Singapore

10. Who won the 2017 Hungarian Formula 1 Grand Prix?

A. Valtteri Bottas
B. Lewis Hamilton
C. Sebastian Vettel
D. Daniel Ricciardo

11.  Israel’s first environmental satellite, a major project of the Israel Space Agency and the French space agency CNES, was launched recently. What is the name of this satellite?

A. Venus
B. Revache
C. Athena
D. Gedulah

12. On July 31, 2017, the Supreme Court prohibited the use of five chemicals, labeled as toxic by the Central Pollution Control Board (CPCB), in the manufacture of firecrackers. Which among the following chemical is NOT prohibited:

A. Lithium
B. Antimony
C. Sulphur
D. Mercury

13. On 31st July 2017, BSF (Border Security Force) signed MoU with NSDC (National Skill Development Corporation).

Read the following list and select who will be eligible for the skill training under this MoU.
1. retired BSF personnel
2. BSF personnel who are on the verge of retiring
3. the population residing in the border areas

A. Only 1 and 2
B. Only 1 and 3
C. Only 2 and 3
D. All of the above

 

14. Cabinet of this state has approved recently the anti-conversion Bill labeled Freedom Bill 2017 which carry jail term of three years and/or fine of Rs 50,000 for anyone found guilty of converting people by alluring or forcing them?

A. Maharashtra
B. Rajasthan
C. Jharkhand
D. Madhya Pradesh

Answer Key with explanation and links

1. C. Delhi Metro, India

  • Delhi Metro Rail Service has been named as the only completely ‘green’ Metro system in the world for adhering to green building norms.
  • The city railway network has obtained the platinum rating for adherence to green building norms for its 10 residential colonies from the Indian Green Building Council (IGBC).

Learn more: Delhi Metro named as world’s first and only 100% ‘green’ metro system

2. A. ‘Muntra’

  • Government agency Defence Research and Development Organisation (DRDO) has recently developed an unmanned tank that can remotely operate and has named it ‘Muntra’.
  • The tank which is a first of its kind in the country has been developed and tested by Combat Vehicles Research and Development Establishment (CVRDE) in Avadi for the army.
  • Three variants of Muntra has been developed namely:
    • Muntra S –  to carry out unmanned surveillance missions.
    • Munta M –  for detecting mines.
    • Muntra N –  will be deployed in areas where nuclear radiation or the risk of bio weapons is high.

Learn more: In a first, DRDO develops unmanned tank Muntra; from detecting nuclear, bio weapons to mines, here is all you need to know

3. B. Sagar Vani

  • Minister of Science & Technology, Earth Sciences and Environment, Forests & Climate Change, Dr. Harshvardhan launched an app “Sagar Vani” on the occasion of Foundation Day of Ministry of Earth Sciences in New Delhi.
  • The App, an Integrated Information Dissemination System, is developed for providing ocean information services, dissemination of alerts towards the livelihood of a coastal community as well as their safety at Sea.
  • The ‘Sagar Vani’ is a software platform where various dissemination modes will be integrated on a single central server.
  • The ‘Sagar Vani’ includes Multi Lingual SMS, Voice Call / Audio Advisory, Mobile Apps (User / Admin modules), Social Media (Facebook, Twitter, etc.), Email, GTS, Fax, Digital Display Boards, Radio / Television broadcast units, IVRS, Cloud Channels, etc.
  • The system also has a facility to provide access to various stakeholders (NGOs, State Fishery Departments, Disaster Management Authorities, etc.) so that they too will be able to further disseminate this ocean information and alerts to the user community.

Learn more: Dr. Harshvardhan launches “Sagar Vani” – An Integrated Information Dissemination System

4. C. reverse the declining trend of Parsi population

  • “Jiyo Parsi Publicity” is a central sector scheme. The main objective of the scheme is to reverse the declining trend of the Parsi population by adopting a scientific protocol and structured interventions, stabilize their population and increase the population of Parsis in India.
  • Ministry of Minority Affairs’ scheme has two components: Medical Assistance and Advocacy/Counselling. The scheme has been successful. 101 babies have been born in Parsi community through “Jiyo Parsi” scheme.
  • The first phase of the scheme, “Jiyo Parsi Publicity Phase-1”, was initiated in 2013 for containing the declining trend of the population of the Parsi community and reverse it to bring their population above the threshold level.
  • On 29th July Union Minister of State (Independent Charge) for Minority Affairs & Parliamentary Affairs Shri Mukhtar Abbas Naqvi launched “Jiyo Parsi Publicity Phase-2” in Mumbai.

Learn more: 

  1. Shri Mukhtar Abbas Naqvi launches “Jiyo Parsi Publicity Phase-2” in Mumbai
  2. “Jiyo Parsi” – The Central Sector Scheme for Containing Population Decline of Parsis in India

5. Washington DC, USA

  • The World Bank is headquartered in Washington, D.C., United States.

Learn more: About the World Bank

6. D. World Bank

  • In 2016, Pakistan had approached World Bank to mediate between India and Pakistan over two of India’s hydroelectricity projects, namely Kishenganga and Ratle, under the 1960 Indus Waters Treaty (IWT), which the World Bank accepted.
  • Pakistan demanded that the World Bank set up a court of arbitration to look into its concerns. On the other hand, India asked for appointments of a neutral expert to look into the issues, contending the concerns Pakistan raised were “technical” ones.
  • The World Bank, in November 2016, initiated two processes: establishment of a court of arbitration and appointment of a neutral expert. These processes were halted after India objected to it.
  • On 31st July 2017, the World Bank hold talks between two countries to resolve the issue.

Learn more: India, Pakistan to hold talks on hydropower projects under Indus Waters Treaty at World Bank headquarters on July 31

7. B. China

  •  In an experimental project in the South China Sea, China has made a historic breakthrough by successfully producing natural gas from methane hydrate, also known as “flammable ice”. 
  • Flammable ice consists of methane trapped within water crystals, and has been identified as a potential new gas source for China, with the South China Sea thought to contain some of the world’s most promising deposits.

Learn more: China produces gas from ‘flammable ice’ under South China Sea

8. A. granting the National Commission on Backward Classes (NCBC) constitutional status

  • On July 31, 2017, the Rajya Sabha passed the Constitution (123rd Amendment) Bill, 2017.
  • The bill provides for granting the National Commission on Backward Classes (NCBC) constitutional status at par with the National Commission for Scheduled Castes (NCSC) and the National Commission for Scheduled Tribes.
  • The bill was earlier introduced in Lok Sabha by the Minister of Social Justice and Empowerment, Mr. Thaawarchand Gehlot on April 5, 2017.

Learn more:

  1. The Constitution (One Hundred and Twenty-Third Amendment) Bill, 2017
  2. Constitution 123rd Amendment Bill and National Commission for Backward Classes (Repeal) Bill, 2017 passed with amendment in Rajya Sabha

9. A. Kazakhstan

  • India won the Division ‘B’ of FIBA Women’s Asia Cup 2017 by defeating Kazakhstan, 75-73, in the final played on 29 July 2017. 

Learn more: India clinch Division B crown in front of sellout home crowd

10. C. Sebastian Vettel

  • Sebastian Vettel won the 2017 Hungarian Formula 1 Grand Prix. 
  • In his 50th race for Ferrari, the four-time champion German controlled the contest from pole position in stifling heat to reel off his first win in five races since the Monaco Grand Prix.

Learn more: Sebastian Vettel wins Formula 1 Grand Prix in Budapest, Hungary

11. A. Venus

  • On August 2, 2017, Israel’s first environmental satellite ‘Venus’ was launched. 
  • Venus (Vegetation and Environment Monitoring New Micro-Satellite), designed and built by Israel Aerospace Industries (IAI) and Rafael, in collaboration with the French National Center for Space Studies (CNES), was shot into space from the launching pad in French Guiana.
  • Venus has a dual mission: one scientific and the other technological. The scientific mission will monitor Earth’s vegetation using a camera capable of recording 12 narrow spectral bands.
  • The technological mission will test the operation of an innovative electric propulsion system based on the Israeli-designed Hall Effect Thrusters.

Learn more: 

  1. Israel launches first environmental research satellite
  2. VIDEO: First Israeli Environmental Satellite Soars Into Space

12. Answer: C. Sulphur 

  • The Supreme Court on July 31, 2017, prohibited the use of five chemicals, labeled as toxic by the Central Pollution Control Board (CPCB), in the manufacture of firecrackers.
  • These harmful chemicals are antimony, lithium, mercury, arsenic, and lead.
  • The apex court further added that it is the responsibility of the Petroleum and Explosive Safety Organisation (PESO) to ensure compliance, particularly in Sivakasi.

Learn more: 5 chemicals banned in firecrackers

13. D. All of the above

  • The Border Security Force (BSF) signed a MoU with the National Skill Development Corporation (NSDC) on July 31, 2017.
  • The agreement was signed in the presence of MoS (Independent Charge) Skill Development and Entrepreneurship (MSDE), Shri Rajiv Pratap Rudy and Minister of State for Home Affairs, Shri Kiren Rijiju.
  • The MoU will enable NSDC to provide “Skill training to retired and retiring BSF personnel, as well as to the population residing in the border areas.”
  • Following are the objectives of the MoU: 
    •  To contribute to the Skill Development Agenda of the country by ensuring the successful roll out of NSQF (National Skill Qualification Framework) based skill training to the retiring or retired BSF personnel and local population at the area of deployment through NSQF compliant training programs at multi-skill development centers run by BSF. This will help in meeting the aspirations of the stakeholders for training and employment.
    • This collaboration aims to train and provide gainful employment to retired BSF personnel and their families, school students, youth, differently abled for five years starting from April 2017 to April 2022. 
    • The project will be a limited time period i.e. (5 years) and in mission mode. 
  • The program will be appropriately named keeping the objectives in view and will have BSF co-branding with Skill India and NSDC. 

Learn more: BSF and NSDC sign MoU on Skill Development 

14. C. Jharkhand 

  • State Cabinet of Jharkhand Government has approved recently the anti-conversion Bill labeled Freedom Bill 2017.
  • Provisions in the Religious Freedom Bill 2017 carry jail term of three years and/or fine of Rs 50,000 for anyone found guilty of converting people by alluring or forcing them.
  • If the person being converted is a minor girl belonging to the Scheduled Caste or Scheduled Tribe community, the punishment will go up from three years to four years, and the fine from Rs 50,000 to Rs 1 lakh (either or both).
  • The Bill is set to be brought in the Assembly in the monsoon session.
  • Among other states where such a legislation has been brought into effect are Rajasthan, Madhya Pradesh, Himachal Pradesh and Chhattisgarh.
  • The bill is a long delayed demand from Sarna followers (who follow their own traditional religion).

Learn more: Jharkhand Cabinet clears anti-conversion Bill

General Knowledge-Set 02

1. In which year, the first Indian cotton mill was established in Bombay?

A. 1874
B. 1854
C. 1845
D. 1861

Answer: B. 1854

The first Indian cotton mill, “The Bombay Spinning Mill”, was opened in 1854 in Bombay by Cowasji Nanabhai Davar. It was the first mill opened by any Indian enterprise with an Indian capital.

Learn more:

  1. Penguin-CNBC TV18 Business YRBK10 By Derek O’Brien
  2. The Cotton Mills

2. Which is the first country to have corporate social responsibility (CSR) legislation, mandating that companies give 2% of their net profits to charitable causes?

A. USA
B. UK
C. Canada
D. India

Answer: D. India

India is the first country to have corporate social responsibility (CSR) legislation, mandating that companies give 2% of their net profits to charitable causes.

Section 135 and Schedule VII of the Companies Act 2013 as well as the provisions of the Companies (Corporate Social Responsibility Policy) Rules, 2014 mandates every company, private limited or public limited, which either has a net worth of Rs 500 crore or a turnover of Rs 1,000 crore or net profit of Rs 5 crore, needs to spend at least 2% of its average net profit for the immediately preceding three financial years on corporate social responsibility activities.

Learn more:

  1. An overview of CSR Rules under Companies Act, 2013
  2. Corporate Social Responsibility: Should It Be A Law?

3. The three Presidency banks- Bank of Bombay, Bank of Calcutta and the Bank of Madras were consolidated and Imperial Bank of India was founded which later became the State Bank of India. The consolidation happened in the year:

A. 1905
B. 1913
C. 1921
D. 1935

Answer: C. 1921

Imperial Bank of India was founded on 27 January 1921 by merging three Presidency banks- Bank of Bombay, Bank of Calcutta and the Bank of Madras.

After independence, Imperial bank was renamed to State Bank of India on 30 April 1955

Learn more:

  1. Insight into the progress of banking by KANAKALATHA MUKUND
  2. Imperial Bank of India From Wikipedia, the free encyclopedia

4. Based on the recommendations of _____________, the Wealth Tax Act, 1957, the Expenditure Tax Act, 1957 and the Gift Tax Act, 1958 were introduced by the Government of India?

A. Prof. Nicholas Kaldor
B. Justice K. N. Wanchoo
C. L K Jha
D. Prof. Raja Chelliah

Answer: A. Prof. Nicholas Kaldor

In 1956, Prof. Nicholas Kaldor submitted his Report on Indian Tax Reform to Government of India.

Based on the recommendations given in his report, the Wealth Tax Act, 1957, the Expenditure Tax Act, 1957 and the Gift Tax Act, 1958 were introduced by the Government of India.

Learn more:

  1. The evolution of income-tax _ II
  2. Tax Reform in India Nicholas Kaldor

5. The first Sikh coin called ‘Govind Shahi’ was minted in the year:

A. 1744
B. 1749
C. 1764
D. 1766

Answer: C. 1764

‘Govind Shahi’ Sikka or coin of Guru Gobind Singh was introduced in 1764 after Sikhs conquered Sirhind.  It was a silver coin and it continued to be issued from the Lahore mint up to 1777.

Learn more: Sikh Coins

6. First Income Tax Act of India came into force in the year:

A. 1860
B.1865
C. 1922
D. 1945

Answer: A. 1860

After the Sepoy Mutiny of 1857, the British Government felt acute financial crisis. They needed to fill their treasury.

The first Income-tax Act was introduced in February, 860 by James Wilson, who became British-India’s first Finance Minister.

The Act received the assent of the Governor General on July 24, 1860, and came into effect immediately.

Learn more:

  1. The evolution of income-tax by T. N. Pandey
  2. History of Indian Tax structure (page 24)

7. The Bombay Stock Exchange (BSE) was established in which year?

A. 1957
B. 1875
C. 1935
D. 1901

Answer: B. 1875

The Bombay Stock Exchange (BSE) was established on 9 July 1875 with the name ‘The Native Share & Stock Brokers Association’.

BSE is Asia’s first stock exchange, which claims to be the world’s fastest stock exchange, with a median trade speed of 6 microseconds.

Learn more:

  1. Tracking 140 years’ journey of the Bombay Stock Exchange
  2. Heritage, bseindia.com
  3. Bombay Stock Exchange From Wikipedia, the free encyclopedia

8. Breaking waves in coastal regions are called?

A. Surf
B. Floods
C. Drought
D. Coastline

Answer: A. Surf

Breaking waves in coastal regions are called surf.

The area near the coastline where waves break are the surf zone. Surf is characterized by lines of foam formed by breaking waves and a distinctive, often rhythmic sound that many people find peaceful.

Surf zones are found along the shores of the ocean as well as the shores of many large lakes.

The coastline is the boundary between the ocean and the land.

Learn more:

  1. Wave-Coast Interactions
  2. Breaking wave From Wikipedia, the free encyclopedia

9. What name is given to a stretch of land which is surrounded by water on three sides?

A. Gulf
B. Bay
C. Peninsula
D. Isthmus

Answer: C. Peninsula

A peninsula is a piece of land surrounded by water on 3 sides of its border while being connected to a mainland from which it extends. One example is Indian Peninsula which is surrounded by the Arabian Sea in the west, the Bay of Bengal in the East and the Indian Ocean in the South and in the North connected to Chinese plateau.

Learn more:

  1. GEO-Flash Cards Definitions
  2. Peninsula From Wikipedia, the free encyclopedia

10. Name the friendly creature of the sea?

A. Star fish
B. Dolphin
C. Crocodile
D. Golden fish

Answer: B. Dolphin

Star Fish, also known as Sea Stars, is a deep sea creature. Because Star Fish does not possess a brain or central nervous system, it is not found to be a socially active animal.

Crocodiles (subfamily Crocodylinae) or true crocodiles are large aquatic reptiles are ambush predators. They are not a friendly creature.

The goldfish (Carassius auratus) is a friendly fish commonly kept in an aquarium. But it is a freshwater fish.

Dolphins are often regarded as one of Earth’s most intelligent animals and are highly social animals. Dolphins also display culture, something long believed to be unique to humans. They care for fellows and even for members of different species.

11. Which of the following is considered as the world’s softest mineral?

A. Sulphur
B. Graphite
C. Talc
D. Limestone

Answer: C. Talc

Talc, which has a hardness of one (1) on the Mohs Hardness Scale is the softest mineral on Earth.

Learn more: What is the softest crystal?

12. Which of the following is NOT part of the Western Ghats biosphere reserves?

A. Nilgiri Biosphere Reserve
B. Agasthyamalai Biosphere Reserve
C. Seshachalam Hills
D. All are part of Western Ghats biosphere reserves

Answer: C. Seshachalam Hills

Nilgiri Biosphere Reserve is an International Biosphere Reserve in the Western Ghats and Nilgiri Hills ranges of South India.

Agasthyamalai Biosphere Reserve (ABR) straddles the border of Kollam and Thiruvananthapuram Districts in Kerala and Tirunelveli and Kanyakumari Districts in Tamil Nadu, South India at the southern end of the Western Ghats.

Seshachalam Hills are hilly ranges part of the Eastern Ghats in southern Andhra Pradesh state, in southeastern India.

Learn more: Biosphere reserves of India From Wikipedia, the free encyclopedia

13. Name the fastest fish which can swim at 68 miles per hour?

A. Sailfish
B. Sushi
C. Casper
D. Comet

Answer: A. Sailfish

Sailfish is the fastest fish in the ocean which can swim at 68 miles per hour or about 110 km/h.

Learn more: The fastest fish in the World

14. Give the scientific name of Peacock?

A. Mangifera indica
B. Rosa Sinensis
C. Pavo cristatus
D. Nelumbo nucifera

Answer: C. Pavo cristatus

Pavo cristatus is the scientific name of Peacock, also known as peafowl.

Mangifera indica is the scientific name of mango.

Rosa Sinensis, also know as Hibiscus rosa-sinensis is a flower of Hibiscus family.

Nelumbo nucifera is the scientific name of  Indian lotus.

Learn more: Peacock

15. Madhubani painting belongs to which of the following state?

A. Madhya Pradesh
B. Jharkhand
C. Bihar
D. Odisha

Answer: C. Bihar

Madhubani Painting is an art form of Mithilanchal region of Bihar state.

Learn more: Madhubani – Mithila Painting From Wikipedia, the free encyclopedia

16. Name the state where Alpana, a design done on the floor with rice paste is done:

A. Kerala
B. Tamil Nadu
C. West Bengal
D. Rajasthan

Answer: C. West Bengal

Alpana is a traditional floor art form of West Bengal.

Learn more: Alpana

17. Name the popular author of “A flight of pigeons”:

A. James Patterson
B. Ruskin Bond
C. A. J. Banner
D. Harper Lee

Answer: B. Ruskin Bond

A Flight of Pigeons is a novella by Indian author, Ruskin Bond. The story is set in 1857, and is about Ruth Labadoor and her family (who are British) who take help of Hindus and Muslims to reach their relatives when the family’s patriarch is killed in a church by the Indian rebels.

Learn more: A Flight of Pigeons From Wikipedia, the free encyclopedia

18. Who was the son of Lord Sri Krishna?

A. Mahodaran
B. Vaalaky
C. Pradyumna
D. Ugraayudhan

Answer: C. Pradyumna

Pradyumna was the son of Lord Krishna and Rukmini.

Learn more: Pradyumna From Wikipedia, the free encyclopedia

19. Who designed the Indian parliament Building?

A. Sir Charles Barry
B. Alvar Aalto
C. Herbert Bekar
D. Philip Johnson

Answer: Herbert Bekar

Indian Parliament Building was designed by two famous architects— Sir Edwin Lutyens and Sir Herbert Baker—who were responsible for the planning and construction of New Delhi.

Learn more: PARLIAMENT HOUSE ESTATE

20. Which country’s parliament is called ‘Diet’?

A. Malaysia
B. Japan
C. Nepal
D. Bhutan

Answer: B. Japan

The Parliament of Japan is called ‘Diet’ (Kokkai in Japan).

The Diet was first convened as the Imperial Diet in 1889 as a result of adopting the Meiji Constitution. The Diet took its current form in 1947 upon the adoption of the postwar constitution and is considered by the Constitution to be the highest organ of state power. The National Diet Building is located in Nagatachō, Chiyoda, Tokyo.

Learn more: National Diet From Wikipedia, the free encyclopedia

21. Which Institution has the final authority to interpret the Constitution of India?

A. Parliament
B. Supreme Court of India
C. President
D. Attorney General of India

Answer: B. Supreme Court of India

Indian constitution has vested huge and grave responsibility to the judiciary for the smooth functioning of the political system.

For this purpose, the Constitution has assigned the interpretative power of the Constitution to the judiciary.

The Supreme Court is a repository of all judicial powers at the national level. Being the apex judicial institution, it is the custodian of the Constitution and the highest forum for its interpretation.

Learn more: The Judiciary: The Supreme Court

22. In bio fortification technique plant breeders use breeding to overcome

A. Loss due to insect pests
B. Decrease in food production
C. Deficiencies of micronutrients and vitamins
D. Loss due to plant diseases

Answer: C. Deficiencies of micronutrients and vitamins

Biofortification is a process of increasing the nutritional quality such as density of micronutrients and vitamins in a crop through plant breeding, transgenic techniques, agronomic practices or modern biotechnology.

Plant breeding can increase nutrient levels in staple crops during plant growth.

One example of bio fortified crop is Golden Rice which is made by biofortification of beta-carotene and is the source of Vitamin A. Other examples are zinc-biofortification of wheat, provitamin A carotenoid-biofortification of sweet potato, amino acid and protein-biofortification of sorghum.

Learn more:

  1. Biofortification of staple crops
  2. Biofortification From Wikipedia, the free encyclopedia
  3. Improving nutrition through biofortification: A review of evidence from HarvestPlus, 2003 through 2016

23. Fixed Foreign Exchange Rate can be changed by

A. RBI
B. SEBI
C. Ministry of Finance
D. FIPB

Answer: A. RBI

When the exchange rate between country’s currency and foreign currency is fixed by the monetary authority, usually Central Bank of that country, it is called Fixed Foreign Exchange Rate.

In India till 1991, the foreign exchange rate used to be fixed by the Reserve Bank of India (Central Bank of the country).  The foreign exchange rate fixed by the RBI is called the fixed exchange rate.

The RBI changes the rate when required. For instance, a change in the foreign exchange rate may be helpful in increasing exports and decreasing imports. This was done by lowering the value of domestic currency in terms of a foreign currency. This is called devaluation.

The RBI not only fixes the foreign exchange rate, it also controls and regulates inflow and outflow of foreign exchange.

Learn more: Foreign Exchange Rate (Page 2) [pdf]

24. The Kovvada Nuclear Park project is proposed to be setup in which State?

A. Rajasthan
B. Uttar Pradesh
C. Andhra Pradesh
D. Karnataka

Answer: C. Andhra Pradesh

The Kovvada Nuclear Park project is proposed to be setup in  Kovvada village of Srikakulam district of Andhra Pradesh.

The Nuclear Project  is being setup jointly by the Nuclear Power Corporation of India (NPCIL) and U.S. company Westinghouse’s Nuclear Power Project (NPP).

The plant will have six 1000 MW (AP-1000) nuclear reactors build by Russian-owned Rosatom.

According to Kovvada Atomic Power Plant Project Director G.V. Ramesh, the project construction work will commence in 2018 and production will start by 2024.

Learn more:

  1. ‘A.P. will gain most from Kovvada power plant’
  2. A.P. set to be country’s nuclear power hub

25. Which country began the construction of European Extremely Large Telescope in Atacama desert, which when completed will be the world’s largest optical telescope?

A. China
B. Chile
C. Russia
D. USA

Answer: B. Chile

Chile has begun the construction of European Extremely Large Telescope in Atacama desert, which when completed will be the world’s largest optical telescope.

Chile’s President Michelle Bachelet  inaugurated the construction of the world’s largest telescope in the desert of Atacama, Chile in May 26, 2017.

ELT’s main mirror will measure 39 meters (43 yards) across.

Located on a 3,000 meter-high mountain in the middle of the Atacama desert, it is due to begin operating in 2024.

The ELT is being funded by the European Southern Observatory, an organization consisting of European and southern hemisphere nations.

Learn more: Construction begins on world’s largest telescope in Chilean desert

26. Polio is caused by

A. Bacteria
B. Virus
C. Fungus
D. Protozoa

Answer: B. Virus

Polio, or poliomyelitis, is a crippling and potentially deadly infectious disease. It is caused by the poliovirus that attacks the nervous system.

Polio is an infectious disease caused by a virus that lives in the throat and intestinal tract. It is most often spread through person-to-person contact with the stool of an infected person and may also be spread through oral/nasal secretions (such as saliva).

The poliovirus can invade an infected person’s brain and spinal cord, causing paralysis (can’t move parts of the body).

Children younger than 5 years old are more likely to contract the virus than any other group.

The polio vaccine was developed in 1953 and made available in 1957. There are two types of vaccine that protect against polio: Inactivated Polio Vaccine (IPV) and Oral Polio Vaccine (OPV).

Learn more:

  1. What Is Polio?
  2. Polio

27. Heat is transmitted from higher temperature to lower temperature through the actual motion of the molecules in

A. Conduction
B. Convection
C. Radiation
D. Both conduction and convection

Answer: B. Convection

Convection is the transfer of heat from one part of a fluid to another by the
flow of the fluid, mixing the warmer parts of the fluid with the cooler parts.

Heat is transmitted from higher temperature to lower temperature through the actual motion of molecules.

For example, when we heat a glass of water in a pot. As the water in contact with the pot is heated by conduction, its molecules’s density decreases, and it floats to the top. Molecules of the colder water moves down to replace it. The colder water, in turn, is heated; once hot, it rises because of its smaller density, thus setting up a circulation of the liquid. During this circulation the warmer parts of the liquid mix with the cooler parts, and in a short time a fairly uniform temperature is established throughout the liquid.

Learn more: Physics, Chapter 18: Transfer of Heat (Henry Semat, City College of New York and Robert Katz, University of Nebraska-Lincoln) [pdf file-page 7 to 9]

28. The transfer of minerals from top soil to subsoil through soil-water is called?

A. Percolation
B. Conduction
C. Leaching
D. Transpiration

Answer: C. Leaching

Leaching is the process of the transfer of minerals from top soil to subsoil through soil-water.

The soil on Earth is divided in 4 layers: top-soil, sub-soil, parent material and bed-rock.

The uppermost layer is top-soil layer which contains most of the nutrients including ‘humus’. Humus is  rich, highly decomposed organic matter mostly made from dead plants, crunched-up leaves, dead insects and twigs.

The topsoil is relatively thin and porous layer. A heavy rain or sometimes irrigation can causes the the soil water to percolate into lower layer (which is sub-soil). The soil-water also contains dissolved nutrients and get transferred to sub-soil. This transfer of nutrients from top-soil to sub-soil through soil-water is called leaching.

The effects of nutrients leaching are many. One is, when nutrient is leached below the root zone of a tree, it is lost from the system. Though if the tree grows its root deeper into the soil, the lost nutrients could be recycled.

However, the  loss due to leaching  can be classified as soil acidification, salt removal from the soil, groundwater contamination, soil erosion.

Learn more:

  1. Cornell University: Trees, Crops and Soil Fertility – Concepts and Research Methods; Schroth G and Sinclair FL (eds.). 2003
  2. What Are the Effects of Leaching? By Eric Dontigney
  3. Celebrating Chemistry, acs.org

29. At Barren Island, the only active volcano in India is situated in

A. Andaman Islands
B. Nicobar Islands
C. Lakshadweep
D. Minicoy

Answer: A. Andaman Islands

India’s only active volcano, at Barren Island is situated in Andaman Islands, 140 kilometres north east of Port Blair.

Learn more: Watch: India’s Only Active Volcano, At Barren Island, Filmed Erupting

30. Which is the highest award for gallantry during peacetime?

A. Vir Chakra
B. Param Vir Chakra
C. Ashok Chakra
D. Mahavir Chakra

Answer: C. Ashok Chakra

In the peace time, for showing conspicuous gallantry or bravery, the Indian Military gets three distinct awards- the Ashoka Chakra, The Kirti Chakra and the Shaurya Chakra. These were constituted on similar lines of the British Awards of the George Cross.

The Ashoka Chakra is the highest among them and is equivalent to Param Vir Chakra which is given for wartime bravery.

Peace time military awards are given for courageous action or self-sacrifice away from the battlefield, especially in counter insurgency operations.

Learn more:

Gallantry Awards (Peace)

Indian honours system From Wikipedia, the free encyclopedia

31. Pump priming should be resorted to at a time of?

A. Inflation
B. Deflation
C. Stagflation
D. Reflation

Answer: B. Deflation

Let us first understand the key concept here.

Inflation is a sizeable and a rapid increase in the general price level across an economy.  Most countries  experience inflation and it is not always bad. In a depression period, inflation puts the economy back on the track. In this period, the purchasing power of the people expands.

Deflation is opposite of the inflation. In deflation, price level across an economy goes down sharply. In this period, the decline in the purchasing power tends to cause a downfall of the price level. It typically occurs during periods of depression.

Stagflation occurs when prices of the commodities across an economy go up but the overall output of an economy (GDP) falls down. As the cost of production rises (due to rising prices or inflation) manufacturers as a precautionary measure produce less. Hence, output falls.

Reflation may be defined as “inflation deliberately undertaken to relieve a depression”. In other words, reflation is a type of controlled inflation. When deflation is carried to an extreme limit and the prices of goods and services fall to extremely low levels, then the government may resort to reflation to protect the economy of the country from serious consequences.

Now let us see the definition of Pump priming.

According to businessdictionary.com the Pump Priming is-

“Injection of (relatively small) sums of money by a government into a depressed economy through commissioning of public works. Its objective is to increase purchasing power of people that will stimulate demand which in turn will boost private sector investment … and so more and more money will be pumped into the economy.”

The literal meaning of pump priming is “to stimulate the economic activity by investment”.

Investopedia clarifies further “Pump priming involves introducing relatively small amounts of government funds into a depressed economy in order to spur growth. This is accomplished through the increase in purchasing power experienced by those affected by the injection of funds, with the goal of prompting higher demand for goods and services. The increase in demand experienced through pump priming can lead to increased profitability within the private sector, which assists with overall economic recovery.”

Pump priming is the government’s tool to boost economy in the deflationary period.

Learn more:

  1. Inflation, Deflation, Stagflation, and Hyperinflation
  2. Inflation, Deflation and Reflation
  3. pump priming, BusinessDictionary
  4. Pump Priming, investopedia.com

32. C.K. Naidu Cup is associated with which of the following sporting events?

A. Tennis
B. Cricket
C. Hockey
D. Golf

Answer: B. Cricket

C.K. Naidu Cup is associated with Cricket. It is named after Cottari Kanakaiya Nayudu, also known as CK,  the first captain of the Indian cricket team in Test matches.

The cup is a national level domestic cricket tournament for Under-23 players.

The current winner of the cup is Punjab.

Learn more:

  1. C. K. Nayudu From Wikipedia, the free encyclopedia
  2. Punjab lift the CK Nayudu Trophy 2016-17

33. Energy travels from Sun to Earth through

A. conduction
B. convection
C. radiation
D. modulation

Answer: C. radiation

Energy travels from Sun to Earth through radiation.

Radiation is the transfer of heat energy through space by electromagnetic radiation, called infrared waves.

This is how the heat from the Sun gets to Earth.

In “radiation” the energy travels as rays, that is, in straight lines. In general, the terms “solar energy” and “solar radiation” simply refer to energy from the sun.

Most of the electromagnetic radiation or solar radiation that comes to the earth from the sun is invisible. Only a small portion comes as visible light.

Most of the solar radiation is absorbed by the atmosphere and much of what reaches the earth’s surface is radiated back into the atmosphere to become heat energy.

Learn more:

  1. The Transfer of Heat Energy
  2. The Sun & its Energy
  3. Temperature System: How does heat move?

34. Which Indian airport has become the first in the Asia-Pacific region in the 5-15 million passengers per annum category to achieve carbon neutral status?

A. Kempegowda International Airport, Bangalore
B. Sardar Vallabhbhai Patel International Airport, Ahmedabad
C. Indira Gandhi International (IGI) Airport, New Delhi
D. Rajiv Gandhi International Airport (RGIA), Hyderabad

Answer: D. Rajiv Gandhi International Airport (RGIA), Hyderabad

Rajiv Gandhi International Airport (RGIA) becomes the first in the Asia-Pacific region in the 5-15 million passengers per annum category to achieve carbon neutral status.

RGIA is the second airport among all categories in the Asia-Pacific region to achieve carbon neutral status.

Earlier in September, 2016 GMR Group-led Delhi Airport had become the first airport in Asia-Pacific to achieve carbon neutral status among all categories.

Learn more: Rajiv Gandhi airport achieves carbon neutral status

35. Which of the following institution was not founded by Mahatma Gandhi?

A. Sabarmati Ashram
B. Sevagram Ashram
C. Vishwa Bharti
D. Phoenix Ashram

Answer: C. Vishwa Bharti

Sabarmati Ashram, formerly known as ‘Satyagraha Ashram”, situated in Ahmedabad was founded by Mahatma Gandhi. The Satyagraha Ashram was founded on May 25, 1915 in Ahmedabad at Kochrab, when Gandhi returned from South Africa, with 25 inmates. The Ashram was shifted on the bank of river Sabarmati in July 1917.

Sevagram Ashram was established in April 1936. After Dandi March in 1930 Gandhiji decided not to return Sabarmati Ashram till independence. On the request of Jamna Lal Bajaj he went to Wardha in 1934. Later he established his residence in the village Shegaon (8 km from Wardha town) which he renamed as Sevagram, which means ‘village of service’.

Phoenix Ashram (also known as Phoenix settlement ) established by Gandhiji near Durban, South Africa in 1904.

Vishwa Bharti was founded by Rabindranath Tagore, initially as a school which started in 1901. On 23 December 1921, Tagore formally started the college with proceeds from the prize money of the Nobel Prize he received in 1913 for the publication of his book of poems Gitanjali.

36. In IT terminology failure in the kernel is called as

A. crash
B. crash dump
C. dump
D. Kernel error

Answer: A. crash

In computing, a crash (or system crash) occurs when a computer program, such as a software application or an operating system, stops functioning properly and exits. The program responsible may appear to hang until a crash reporting service reports the crash and any details relating to it. If the program is a critical part of the operating system, the entire system may crash or hang, often resulting in a kernel panic or fatal system error.

Learn more:

Crash (computing) From Wikipedia, the free encyclopedia

37. Temperature of distant luminous bodies can be determined by

A. Mercury thermometers
B. Gas thermometers
C. Pyrometers
D. Colour thermometers

Answer: C. Pyrometers

When the object is too far in sky, such as stars or too hot to touch such as steel furnace, scientists used to measure its temperature by determining its wavelength of the radiation.

A pyrometer (from the Greek words meaning “fire” and “measurement”) is a type of remote-sensing thermometer used to measure the temperature of a surface. It measures heat admitted from an object visibly bright or incandescent.

Pyrometers have optical scanners that measure the temperature of a surface from the spectrum of the thermal radiation it emits, a process known as pyrometry and sometimes radiometry.

Different types of pyrometer existed such as broadband pyrometer, optical pyrometer and radiation pyrometer.

Pyrometer was invented by Josiah Wedgwood.

Learn more:

  1. Pyrometer From Wikipedia, the free encyclopedia
  2. Types Of Pyrometers
  3. Pyrometers and infrared thermometers

38. The largest herbarium of India is located at

A. Kolkata
B. Lucknow
C. Mumbai
D. Coimbatore

Answer: A. Kolkata

The Central National Herbarium (CNH) is the largest herbarium of India. It is located in Kolkata, West Bengal.

William Roxburgh established this herbarium in 1795 at his office-cum-residence. This building, located on the bank of the river Hooghly, is now called Roxburgh House.

CNH is maintained by the Botanical Survey of India.

Herbarium is a store house where dried and pressed specimens of plants are placed on sheet in a systematic way of classification. They are basically used for education and research purposes in different institutes.

Learn more:

Central National Herbarium

39. Tsangpo is the other name in Tibet for ____________ .

A. Kosi
B. Gandak
C. Brahmaputra
D. Ganga

Answer: C. Brahmaputra

The river is known as the Yarlung Tsangpo in Tibet, Siang (or Dihang) where it enters India, and the Brahmaputra as it descends further down into Assam.

Tsangpo is the suffix attached to names of rivers originating or sometimes flowing through the Tsang province of Tibet.

Learn more: 

Tsangpo: The last mystery

Tsangpo From Wikipedia, the free encyclopedia

40. The Upanishads are the ‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌______________________ .

A. Great Epics
B. Story Books
C. Source of Hindu Philosophy
D. Law Books

Answer: C. Source of Hindu Philosophy

Upanishads are the compilation of philosophical and religious texts written by Indian scholars who codify and reinterpret Aryan beliefs to create the texts forming the basis of Hinduism sometime between c. 800 BCE and c. 500 BCE.

The texts of Upanishads tried to shift the focus of religious life from external rites and sacrifices to internal spiritual quests in the search for answers.

Although there are over 200 surviving Upanishads, only 14 are considered to be the most important. The names of these Upanishads are Isa, Kena, Katha, Prasna, Mundaka, Mandukya, Taittiriya, Aitareya, Chandogya, Brhadaranyaka, Svetasvatara, Kausitaki, Mahanarayana and the Maitri.

Learn more:

Upanishads, Ancient History Encylopedia

41. The people of the Indus valley civilisation worshipped ____________________.

A. Vishnu
B. Pashupati
C. Indra
D. Brahma

Answer: B. Pashupati

The Pashupati seal in which the three faced male god is shown seated in a yogic posture wearing a headdress that has horns, surrounded by a rhino and a buffalo on the right, and an elephant and a tiger on the left, make the historians conclude that the people of Indus valley civilisation worshipped Lord Shiva who is also known by the name Pashupati. 

Learn more:

  1. Religious Developments in Ancient India, Ancient History Encylopedia
  2. Indus Valley Civilization: Religion of the people

42. Appointments for all India Services are made by

A. UPSC
B. President
C. Prime Minister
D. Parliament

Answer: B. President

President of India appoints All India Service Officers(IAS/IPS/IFoS) and other Central Government Group A Officers(IFS, IRS, IAAS, IRTS etc).

Group A gazetted officers are appointed by the President of India himself, and Group B gazetted officers are appointed by President-ordered authorities (except for officers for the Central Secretariat Service, who are selected by the President).

Learn more: 

  1. Know about Civil Services in India
  2. Which authority or person can dismiss an IAS officer in India?

43. The Residuary powers of legislation under Indian Constitution rests with

A. President
B. Prime Minister
C. Parliament
D. States

Answer: C. Parliament

Article 248 vests the residuary powers in the parliament. It says that
1. Parliament has exclusive power to make any law with respect to any matter not enumerated in the Concurrent List or State List.

2. Such power shall include the power of making any law imposing a tax not mentioned in either of those Lists.

Learn more: RESIDUARY POWER UNDER THE INDIAN CONSTITUTION: A BRIEF ANALYSIS

44. India shares longest international boundary with which country?

A. Bangladesh
B. China
C. Nepal
D. Bhutan

Answer: A. Bangladesh

India has 15106.7 Km of land border running through 92 districts
in 17 States and a coastline of 7516.6 Km touching 13 States and Union
Territories (UTs).

The longest international boundary it shares with Bangladesh which is 4,096.7 kilometers.

Learn more: Introduction, MINISTRY OF HOME AFFAIRS (DEPARTMENT OF BORDER MANAGEMENT)

45. Panna Lal Ghosh was a famous ______________ player.

A. Flute
B. Sitar
C. Mandolin
D. Pakhawaj

Answer: A. Flute

Pannalal Ghosh (24 July 1911 – 20 April 1960), also known as Amal Jyoti Ghosh was an Indian flute (bansuri), player and composer.

Learn more: Pannalal Ghosh From Wikipedia, the free encyclopedia

46. Digboi in Assam is famous for:

A. Coal
B. Silk
C. Gold
D. Oil

Answer: D. Oil

Digboi (located in the far north–eastern corner of Assam), also known as the ‘Oil City’ of India, is where the first oil well in Asia was drilled in 1889. 

Learn more: 

7 Reasons Why Digboi is So Very Special to India

47. Which city is known as “Manchester of South India”?

A. Chennai
B. Coimbatore
C. Mysuru
D. Bengaluru

Answer: B. Coimbatore

Coimbatore is known as the Manchester of South India. It is named such because of its flourishing textile industry.

It started with the establishment of Coimbatore Spinning and Weaving Mills in 1888 by Sir Robert Stanes, the pioneering and responsible entrepreneur. 

The emergence of C.S. & W. Mills motivated others to set up mills in Coimbatore. 

Learn more: What transformed Coimbatore into the Manchester of South India

48. Name the railway station in India which has been declared as UNESCO heritage building:

A. Abada (West Bengal)
B. Argora (Jharkhand)
C. Shivaji Terminus (Maharashtra)
D. New Delhi (Delhi)

Answer: C. Shivaji Terminus (Maharashtra)

The Chhatrapati Shivaji Terminus, formerly known as Victoria Terminus Station, in Mumbai is included in the UNESCO heritage building list in 2004.

Learn more: Chhatrapati Shivaji Terminus (formerly Victoria Terminus)

49. An important river of the Indian desert is:

A. Luni
B. Narmada
C. Krishna
D. Beas

Answer: A. Luni

The Luni River is the only river integrated into the Indian desert.

The Luni is an endorheic river of western Rajasthan state, India. It originates in the Pushkar valley of the Aravalli Range, near Ajmer, passes through the southeastern portion of the Thar Desert, and ends in the marshy lands of Rann of Kutch in Gujarat, after travelling a distance of 495 km. It is first known as Sagarmati, then after passing Govindgarh, it meets its tributary Saraswati, which originates from Pushkar Lake, and from then on it gets its name Luni.

Learn more: 

  1. Luni River From Wikipedia, the free encyclopedia
  2. Thar Desert From Wikipedia, the free encyclopedia

50. Which one of the following is a financial institution?

A. SEBI
B. ICICI
C. KVIC
D. IFFCO

Answer: B. ICICI

ICICI Bank (Industrial Credit and Investment Corporation of India) is an Indian multinational banking and financial services company.

The Securities and Exchange Board of India (SEBI) is the regulator for the securities market in India.

The Khadi and Village Industries Commission (KVIC) is a statutory body formed by the Government of India, under the Act of Parliament, ‘Khadi and Village Industries Commission Act of 1956’. It is an apex organisation under the Ministry of Micro, Small and Medium Enterprises, with regard to khadi and village industries within India, which seeks to – “plan, promote, facilitate, organise and assist in the establishment and development of khadi and village industries in the rural areas in coordination with other agencies engaged in rural development wherever necessary.”

Indian Farmers Fertiliser Cooperative Limited, also known as IFFCO, is a small scale fertilizer cooperative federation based in India which is registered as a Multistate Cooperative Society. It is an agricultural cooperative society.

 

Banking Awareness – Set-01

There are 15 questions in this practice set. With each question, there are 4 options. You have to choose which one of them is correct.

The answer is given with each question. You will find external links with each answer. You can learn further about the topic by visiting those links.

Questions in this set were asked on our Facebook Page. If you’ve come here from our page, in this post you will find the answer to the questions I asked.

If you have any query or feedback, please write it below in the comment box.


1.  What is NOSTRO account?

A. an account which is generally held with a domestic bank on behalf of a foreign bank
B. an account which is generally held by a bank on behalf of a 3rd party bank
C. an account which is generally held with a foreign bank on behalf of a domestic bank
D. None of the above

Answer: C. accounts which are generally held with a foreign bank on behalf of a domestic bank

 

Learn more

 

2. Which of the following bank has signed up as a national supporter for the under 17 FIFA world cup, scheduled to kick start on October 2017?

A. State Bank of India
B. Bank of Baroda
C. Punjab National Bank
D. ICICI Bank

Answer: B. Bank of Baroda

Learn more

3. The alphabet ‘B’ in  the acronym CBLO stands for:

A. Banking
B. Borrowing
C. Business
D. Base

Answer: B. Borrowing

 

Learn more

 

4. ___________ is a satellite-based wide area network using VSAT (Very Small Aperture Terminal) technology set up by the RBI in June 1999.

A. RBINET
B. BANKINNET
C. INFINET
D.INDINET

Answer: C. INFINET

Learn more

5. What does ‘F’ in the FIMMDA stand for?

A. Financial
B. Future
C. Fixed
D. Federal

Answer: C. Fixed

Learn more

6. Which of the following statement is TRUE for the Fixed Income Securities

A. Holders of fixed-income securities are not owners, but the creditors
B. Fixed Income Securities are similar to equity
C. Commercial paper is not an example of Fixed Income Securities
D. None of the above

Answer: A. Holders of fixed-income securities are not owners, but the creditors

Learn more

7. Basel III introduced two required liquidity ratios. Choose from the options given below:
I. Liquidity Coverage Ratio
II. Capital Adequacy Ratio
III. Net Stable Funding Ratio
IV. McDonough Ratio

A. I and II
B. II and III
C. I and III
D. II and IV

Answer: C. I and III

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8. What is/are the RBI Guideline(s) for the development of Internet Rate Swaps?

A. Banks can use IRS for hedging and trading both
B.  MIFOR is a benchmark for IRS
C. Under ISDA agreement Banks can opt for dual Jurisdiction i.e., Indian as well as common law
D.  All of the above

Answer: D.  All of the above

Learn more

9. Which of the following agencies is associated with the business of mutual fund sector as a regulator?

A. PFRDA
B. FMC
C. SEBI
D. AMFI

Answer: C. SEBI

Learn more

10. The first and the foremost mutual fund of India, UTI, was established in:

A. 1960
B. 1963
C. 1966
D. 1969

Answer: B. 1963

Learn more

11. Which of the following terms is not used in banking and Finance?

A. Capital gain
B. Blue Chip
C. Market risk
D. Stare decisis

Answer: D. Stare decisis

Learn more

12. ECML technology is used in which of the following banking products/services?

A. Home Loans
B. Foreign Exchange Services
C. Digital Wallet
D. Internet Banking

Answer: C. Digital Wallet

Learn more

13.Which of the following terms is not used in Economics?

A. Exogenous                          
B. Depreciation
C. Deep Market                    
D. All are Economics term

Answer: D. All are Economics term

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14. Which of the following statements is true?

A. Banks cannot accept demand and time deposits from public
B. Banks can accept only demand deposits from public
C. Banks can accept demand and time deposits only from government
D. Banks can accept both demand and time deposits from public

Answer: D. Banks can accept both demand and time deposits from public

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15. Which of the following bank had the key role in concluding the biggest asset resolution in India with the consummation of the Rs. 16,189 crore takeover of Jaypee Cements by Ultratech?

A. State Bank of India
B. ICICI Bank
C. Axis Bank
D. Punjab National Bank

Answer: B. ICICI Bank

Learn more

 


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Q. What is/are the RBI Guideline(s) for the development of Internet Rate Swaps?

Q2- 16 July 2017.png

Answer: D.  All of the above

An Interest Rate Swap (IRS) is a financial contract between two parties exchanging or swapping a stream of interest payments for a ‘notional principal’ amount on multiple occasions during a specified period. Such contracts generally involve an exchange of a ‘fixed to floating’ or ‘floating to floating’ rates of interest. Accordingly, on each payment date – that occurs during the swap period – cash payments based on fixed/ floating and floating rates, are made by the parties to one another.

The basic purpose of IRS is to hedge the interest rate risk of constituents and enable them to structure the asset/liability profile best suited to their respective cash flows.

IRS was introduced in India in 1999.

IRS is an Over-the-counter (OTC) derivatives. OTC is a contract that are traded directly between two eligible parties, with or without the use of an intermediary
and without going through an exchange.

Banks have been allowed to use the IRS not only for hedging but also for trading (market making) purpose – which provision has boosted the treasury activity.

The payments in interest rate swaps are based upon the “INR-MIFOR (Mumbai Inter-Bank Forward Offered Rate )” Floating Rate Option. 

RBI had earlier restricted benchmarks only to domestic markets – where only O/N MIBOR was widely used. Upon a representation from banks, RBI allowed MIFOR as a benchmark for interest rate swaps, but later restricted the use of MIFOR only for inter-bank dealings. MIFOR combines LIBOR and forward premium, and is based on active forex market dealings.

International Swaps and Derivatives Association (ISDA) agreement is the standard document that is commonly used to govern over-the-counter derivatives transactions including IRS.  

Banks enter into International Swaps and Derivative Association (ISDA) Master Agreement for derivative transactions (excluding Forward exchange contracts) with other bank or retail / individual customer. 

RBI has permitted banks under ISDA Agreement, to opt for dual jurisdiction, i.e. under Indian as well as common law jurisdiction. This provision is important for global banks to engage with Indian banks.

Learn more:

  1. Draft comprehensive guidelines on derivatives
  2. Interest Rate Swap: How it Works
  3. Essay on the Derivative Products | India | Banks | Treasury Management
  4. INTEREST RATE SWAPS
  5. Mumbai Interbank Forward Offer Rate (MIFOR)
  6. Implementation Group on OTC Derivatives Market Reforms
  7. Comprehensive guidelines on derivatives
  8. ISDA Master Agreement
  9. Forward Rate Agreements/ Interest Rate Swaps

Current Affairs and GK – Set-07

 

There are 20 questions in this practice set. With each question, there are 4 options. You have to choose which one of them is correct.

The answer is given with each question. You will find external links with each answer. You can learn further about the topic by visiting those links.

Questions in this set were asked on our Facebook Page. If you’ve come here from our page, in this post you will find the answer to the questions I asked.

If you have any query of feedback, please write it below in the comment box.


1.  The World Heritage Committee (WHC) of UNESCO recently announced Ahmedabad India’s first World Heritage City. Ahmedabad was founded by:

A. Ahmad Shah I
B. Ahmad Shah II
C. Ahmad Shah Abdali
D. Shaikh Ahmad Khattu

Answer: A. Ahmad Shah I

Ahmad Shah I founded Ahmedabad on 26 February 1411.

Ahmad Shah I named it in honour of four Ahmads, himself, his religious teacher Shaikh Ahmad Khattu, and two others, Kazi Ahmad and Malik Ahmad.

Learn more:

  1. History of Ahmedabad 
  2. Ahmedabad declared India’s first heritage city by UNESCO

2. Where is the capital of Syria?
A. Latakia
B. Damascus
C. Aleppo
D. Al Raqqah

Answer: B. 8

Section 16 of the Right of Children to Free and Compulsory Education (RTE) Act, 2009 stipulates that ‘No child admitted in a school shall be held back in any class or expelled from school till the completion of elementary education’. Thus, the policy covers elementary stage of schooling covering classes 1 to 8.

Learn more: Damascus, capital city of Syria

3. Name the foreign ambassador who came in the court of Mauryan emperor Bindusara?
A. Deimachus
B. Megasthenes
C. Onesicritus
D. Eratosthenes

Answer: A. Deimachus

Deimachus was the ambassador of Seleucid emperor Antiochus I at Bindusara’s court. He was the successor to the famous ambassador and historian Megasthenes who came to Patliputra during Chandragupta Maurya. 

Learn more: 

  1. Deimachus From Wikipedia, the free encyclopedia
  2. Ancient Indian History and Civilization By Sailendra Nath Sen

4.Non-violence non-cooperation movement was undertaken to-
I. restore the status of the ruler of Turkey
II. to avenge the Jallianwala Bagh Massacre
III. to secure Swaraj (independence) for India

A. Only I and II
B. Only II and III
C. Only I and III
D. All are the valid reasons 

Answer: D. All are the valid reasons 

The Non-violence non-cooperation movement was undertaken to
A. restore the status of the ruler of Turkey after World War I, who was regarded as Indian Muslim’s spiritual head;

(b) to avenge the Jallianwala Bagh Massacre and other violence in Punjab; and

(c) to secure Swaraj (independence) for India.

Gandhi promised Swaraj in one year if his Non-cooperation programme was fully implemented.

The other reason to start the non-cooperation movement was that Gandhi lost faith in constitutional methods and turned from cooperator of British rule to non-cooperator.

Learn more: 

  1. The Non-Cooperation Movement — 1920-22
  2. Non-cooperation movement From Wikipedia, the free encyclopedia

5. In which session, Congress resolution on non-cooperation movement was passed?
A. Ahmedabad
B. Nagpur
C. Bombay
D. Lahore

Answer: B. Nagpur

In December 1920, in Nagpur session, Congress passed a resolution to support non-cooperation movement led by Mahatma Gandhi.

Learn more: 

  1. The Non-Cooperation Movement — 1920-22
  2. Non-cooperation movement From Wikipedia, the free encyclopedia

6. Which of the following leader was associated with Indian Home-Rule movement?
A. Annie Besant
B. Surendranath Banerjee
C. A. O. Hume
D. Gopal Krishna Gokhale

Answer: A. Annie Besant

Between 1916 and 1918, when the World War I was beginning, prominent Indians like Joseph Baptista, Muhammad Ali Jinnah, Bal Gangadhar Tilak, G. S. Khaparde, Sir S. Subramania Iyer and the leader of the Theosophical Society, Annie Besant, decided to organise a national alliance of leagues across India, specifically to demand Home Rule, or self-government within the British Empire for all of India.

Tilak founded the first home rule league at the Bombay provincial congress at Belgaum in April,1916.

Then after this Annie Besant founded second league at Adyar Madras in September 1916.

While Tilak’s league worked in areas like Maharashtra (excluding Bombay city), Karnataka, Central provinces and Berar, Annie Besant’s league worked in the rest of India.

Learn more:

  1. Home Rule League
  2. Indian Home Rule movement From Wikipedia, the free encyclopedia

7. Prarthana Samaj, or “Prayer Society”  was founded by:

A. Atmaram Pandurang
B. Sir Pherozeshah Mehta
C. Mahatma Gandhi
D. Swami Vivekanand

Answer: A. Atmaram Pandurang

Prarthana Samaj, or “Prayer Society” was founded by  Atmaram Pandurang with the help of Keshav Chandra Sen, Bal Mangesh Wagle and Vaman Abaji Modak in 1867. Later, Justice Mahadev Govind Ranade joined it and made it popular. \

The “Prarthana Samaj” was a movement for religious and social reform in Bombay based on earlier reform movements. Prarthana Samaj was founded  with an aim to make people believe in one God and worship only one God. It was based on “Brahmo Samaj”.

Learn more: 

  1. Prarthana Samaj From Wikipedia, the free encyclopedia
  2. THE MODERATES AND EXTREMISTS

8. Kuka movement of Punjab which was led Baba Ram Singh in 1870s was a:
A. religious movement
B. political movement
C. religio-political movement
D. social movement

Answer: C. religio-political movement

Learn more:

  1. [History] Kuka Movement stamp, Thatheras Metalcraft in UNESCO, Namdhari-Nirankari & ofcourse Ghadar
  2. Stamp on “Kuka Movement” Released

9. The methods of non-violent campaigns of civil disobedience (Satyagraha) of Mahatma Gandhi whose were to a large extent inspired by the philosophy and methods of:
A. Gopal Krishna Gokhale
B. Swami Vivekanand
C. Ravindra Nath Tagore
D. Baba Ram Singh

Answer: D. Baba Ram Singh

The methods of non-violent campaigns of civil disobedience (Satyagraha) of Mahatma Gandhi were to a large extent inspired by the philosophy and methods of Baba Ram Singh, a Sikh who led the Kuka Movement in the Punjab in the 1870s.

Learn more: Indian civilization By deepak s

10.  In which year, world’s first man-made satellite Sputnik-I was launched?
A. 1955
B.1957
C. 1959
D. 1961

Answer: B.1957

Sputnik-I was launched on October 4, 1957 by USSR.

Learn more:

  1. Sputnik and The Dawn of the Space Age

11. Any substance which when added to a reaction, alters the rate of the reaction but remains chemically unchanged at the end of the process is called?
A. reagent
B. radicals
C. catalyst 
D. None of the above

Answer: C. catalyst

Catalyst is the substance which when added to a reaction, alters the rate of the reaction but remains chemically unchanged at the end of the process. 

A catalyst is not destroyed or changed during a reaction, hence it can be used again.

Learn more: Chemical reaction

12. The study of the inter-relations of animals and plants with their environment is called?
A. Ontology
B. Ethology
C. Ecology
D. Anthropology

Answer: C. Ecology

Ecology (from Greek: οἶκος, “house” or “living relations”; -λογία, “study of”) is the scientific study of the distributions, abundance and relations of organisms and their interactions with the environment.

In another word, ecology is the inter-relations of animals and plants with their environment.

Learn more: What is Ecology

13. Which of the following is not correct? 
A. Doldrums—Equatorial low-pressure zone
B. Hurricane—A wind having a mean velocity of less than 100 km per hour
C. New Moore Island—India
D. Alluvium—Rann of Kutch

Answer: B. Hurricane—A wind having a mean velocity of less than 100 km per hour

Follows are the definition of each option:
A. Doldrums:- The doldrums is a colloquial expression derived from historical maritime usage, which refers to those parts of the Atlantic Ocean and the Pacific Ocean affected by the Intertropical Convergence Zone, a low-pressure area around the Equator where the prevailing winds are calm.

B. Hurricane – Hurricanes are large storms with rotating winds. They form over the warm waters of the ocean when there are large pressure and temperature differences between the warm water and the clouds. The clouds pull the moisture and the air near the surface of the water up, toward the clouds, which creates a column of fast-moving air. To consider a wind as hurricance, its wind speed should reach 74 miles (119 kilometer) per hour or greater.

C. New Moore Island – It was a small uninhabited offshore sandbar island in the Bay of Bengal, off the coast of the Ganges-Brahmaputra delta region. It emerged in the Bay of Bengal in the aftermath of the Bhola cyclone in 1970, and disappeared at some later point in 2010. India and Bangladesh both claimed the empty New Moore Island, which is about 3.5 kilometers (2 miles) long and 3 kilometers (1.5 miles) wide. Bangladesh referred to the island as South Talpatti.

D. Alluvium (from the Latin alluvius, from alluere, “to wash against”) is loose, unconsolidated (not cemented together into a solid rock) soil or sediments, which has been eroded, reshaped by water in some form, and redeposited in a non-marine setting. 

The coastal areas of Rann of Kutch have thick alluvial and marine sediments of recent origin. 

 

Learn more: 

  1. Doldrums From Wikipedia, the free encyclopedia
  2. Hurricane Facts
  3. ‘Disputed isle in Bay of Bengal disappears’
  4. India’s Lost ISLAND.(New Moore) – YouTube
  5. GEOGRAPHY, GEOMORPHOLOGY AND GEOLOGY OF THE KATCHH REGION

14. Which of the following rivers flows westward? 
A. Krishna
B. Cauvery
C. Mahanadi
D. Narmada

Answer: D. Narmada

Among the given options, only Narmada flows westward.

The river Narmada originates in Amarkantak, the highest peak of the Vindhya Range. As it flows down the hill, it is trapped in a rift valley between the Vindhya and the Satpura muntain ranges which leads it to the west towards Gujarat, where it finally ends its journey in the Gulf of Khambat of Arabian sea.

Other important rivers of India which flow westward are Tapti (or Tapi), Sabarmati and Mahi.

Learn more: Why do the Narmada and Tapti rivers in India flow towards the West, while others flow towards the East?

15. Helium is used for respiration in deep water instead of nitrogen because:
A. It is heavier than nitrogen
B. It is lighter than nitrogen
C. It mixes less In blood than nitrogen
D. It helps oxygen burn more quickly

Answer: C. It mixes less In blood than nitrogen

In air tanks which divers uses, has a mixture of oxygen and other inert gases, usually 20% oxygen and 80% nitrogen or helium.

One reason for divers to prefer Helium over Nitrogen is, at high pressure (like in the deep water) nitrogen tend to mixes with blood. It causes a condition called Nitrogen narcosis. The divers feel like they are drunk. This condition could be life threateneing for them if they are not careful.

Helium on the other hand does not dissolve in the blood as nitrogen does due to its low molecular weight. They also don’t cause narcosis effect.

Learn more: 

  1. Helium and Scuba Diving -Trimix and other diving gases.
  2. Trimix (breathing gas) From Wikipedia, the free encyclopedia

16. Gerontology is the study of:
A. aging process and older adults
B. growth of cells
C. genetics
D. care and treatment of older persons

Answer: A. aging process and older adults

Gerontology is the study of aging process and older adults.

It is distinguished from geriatrics, which is the branch of medicine that specializes in the treatment of existing disease in older adults. Gerontologists include researchers and practitioners in the fields of biology, nursing, medicine, criminology, dentistry, social work, physical and occupational therapy, psychology, psychiatry, sociology, economics, political science, architecture, geography, pharmacy, public health, housing, and anthropology.

The term was coined by Ilya Ilyich Mechnikov in 1903.

Learn more: Gerontology From Wikipedia, the free encyclopedia

17. The purest form of water is obtained from:
A. a deep tube well
B. a running stream
C. hot water spring
D. heavy rains

Answer: D. heavy rains

Rain water is the purest form of naturally occurring water. It evaporates
from sea as a result of extensive heat. Since rain water is produced by a process
of distillation, it is considered to be the purest form of water. The rain water,
however, is associated with dissolved gases such as CO2, SO2, and NH3 etc.
from the atmosphere.

Learn more: Introduction to Water

18. On average, how much salts (in grams) can be found in 1 liter (1000 mL) of seawater?
A. 45 grams
B. 80 grams
C. 35 grams
D. 200 grams

Answer: C. 35 grams

On average, sea water contains about 3.5% of dissolved salts (salinity) out of which about 2.6% is sodium chloride (NaCl). Other salts present are sulphates, chlorides, bicarbonates, carbonates of calcium, magnesium and number of other compounds. . Therefore, for every 1 litre (1000 mL) of seawater there are 35 grams of salts dissolved in it.

 

Learn more: 

  1. Seawater From Wikipedia, the free encyclopedia
  2. Introduction to Water

19. The easiest way of finding out the nutritional status for a large number of children in a short time is by:
A. studying their hair, face and eyes 
B. measuring their height and weight
C. studying their behavior
D. All of the above

Answer: B. measuring their height and weight

Among the given options we need indicators which we can quantify and can calculate so that we can compare it to some predefined standards (nutritional status). By measuring height and weight of children we can get the BMI and ascertain the nutritional status of them.

Learn more: CHAPTER ONE Introduction, Nutrition indicators for development, B. MAIRE and F. DELPEUCH

20. Arrange the following dynasty as they were founded in the ascending order.
I. Guptas
II. Mauryas
III. Pallavas
IV. Nanda

A. I-II-III-IV
B. II-IV-III-I
C. III-IV-II-I
D. IV-II-III-I

Answer: D. IV-II-III-I

The founding year of the given dynasties and when they lasted are given below:
I. Guptas (320 CE and 550 CE)
II. Mauryas (322 BCE – 185 BCE)
III. Pallavas (275 CE to 897 CE)
IV. Nanda (345BCE–321 BCE)

Learn more:

  1. Nanda Empire From Wikipedia, the free encyclopedia
  2. Maurya Empire From Wikipedia, the free encyclopedia
  3. Pallava dynasty From Wikipedia, the free encyclopedia
  4. Gupta Empire From Wikipedia, the free encyclopedia

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