Banking Awareness -RBI, SBI, PO, IBPS Exam - September Set 1 2019

Table of Contents

Q) Global research and brokerage firm Nomura has predicted the GDP growth rate for India for the year 2020 at what per cent?
A. 6.7%
B. 6.2%
C. 6.9%
D.6.5%

Nomura predicts India’s GDP at 6.9% in 2020
Global research and brokerage firm Nomura has predicted the GDP growth rate for India for the year 2020 at 6.9%. It has reduced the prediction from earlier 7.1%.
The global GDP growth rate for 2020 has been predicted at 3.3% by Nomura.

Q) IRDAI has set up a nine member panel to review its three-year old guidelines on trade credit insurance under whose chairmanship?
A. Ishaat Hussain
B. Atul Sahai
C. Sandeep Bakshi
D. Kuldeep Patel

IRDAI setups panel on trade credit insurance; Head – Atul Sahai
The Insurance Regulatory and Development Authority of India (Irdai) has set up a 9 member panel to review its three-year old guidelines on trade credit insurance in line with the changing requirements of the market.
Trade credit insurance policy provides coverage to supplier of goods and services against delay in payment or non-payments of trade credit.
The panel will be headed by CMD of New India Assurance, Atul Sahai.
Bimal Jalan committee RBI’s to review the economic capital framework
RBI committee for development of housing finance securitisation market Head – Harsh Vardhan
RBI constituted a six-member committee on the Development of Secondary Market for Corporate Loans Head – TN Manoharan
RBI constituted a six-member committee to strengthen the corporate governance framework of systematically important Core Investment Companies (CICs). Head – Tapan Ray
The committee to study the problems faced by MSMEs was chaired by U.K. Sinha
The Reserve Bank of India set up a committee of experts to reduce prices for customers on ATM transactions, with a broader objective to improve rural penetration of teller machines. Head – V G Kannan

Q) Government e Marketplace has signed an MoU with which bank to boost MSME ecommerce sales?
A. SIDBI
B. NABARD
C.NHB
D.RBI

Public procurement portal Government e-Marketplace (GeM) signed a Memorandum of Understanding (MoU) with Small Industries Development Bank of India (SIDBI) in order to help MSMEs, women entrepreneurs, Self Help Groups (SHGs), Women Self Help Groups and various loan beneficiaries under MUDRA and Stand-up India scheme
The MoU signed in New Delhi aims to enable promotion of special initiatives of GeM, such as Womaniya and Start-up Runway, with SIDBI stakeholders.
Government e Marketplace [GeM] launched “Womaniya on GeM”, an initiative to enable women entrepreneurs and women self-help groups to sell handicrafts and handloom, accessories, jute and coir products, home décor and office furnishings, directly to various Government ministries, departments and institutions.
GeM Startup Runway Launched in February 2019 is a unique concept initiated by Government e Marketplace in partnership with Startup India, to promote entrepreneurship through innovation.
This program is an opportunity for agile and lean startups to reach out to the universe of Government buyers.

Pradhan Mantri MUDRA Yojana (PMMY)

Shishu : covering loans upto 50,000/-
Kishor : covering loans above 50,000/- and upto 5 lakh
Tarun : covering loans above 5 lakh and upto 10 lakh

Q) The Revenue Department has announced that the from September 01, 2019, what per cent TDS will be deducted on cash withdrawal of over Rs 1 crore within a year?
A. 1 %
B. 3 %
C. 2 %
D.1.5 %

2% TDS to be levied on cash withdrawals over Rs 1crore from Sept 01
The Revenue Department has announced that the from September 01, 2019, 2% TDS will be deducted on cash withdrawal of over Rs 1 crore within a year.
The deduction of 2% TDS on cash withdrawal over Rs 1 crore was announced in the Union Budget 2019-20.

Q) As per the new rates for BHIM UPI by NPCI, Merchant discount rates (MDR) has been revised to 0.30 % with a maximum cap of Rs ______ per transaction?
A. Rs 200
B. Rs 300
C. Rs 500
D. Rs 100

NPCI revises merchant discount rates for BHIM UPI transactions
Merchant discount rates (MDR) for large ticket transactions has been capped at maximum ₹100 and made zero at offline merchants for transaction up to ₹100.
As per the latest notification, the MDR has been revised to 0.30% with a maximum cap of ₹100 per transaction.
Presently, this was capped at 0.25% for transactions up to ₹2,000 and at 0.65 per cent for transactions above ₹2,000.
Further, MDR for offline merchant where transactions are done through QR Scan and Pay will be zero for transaction up to ₹100.
The new MDR rates will come into effect from October 1, 2019,

Q) Which Bank has introduced two Repo Linked Products –Suvidha Plus Home Loan and Suvidha Plus Auto Loan?
A. IDBI Bank
B. HDFC Bank
C. Axis Bank
D.Yes Bank

The Suvidha Plus Home Loan will be offered for up to Rs. 75 Lakh with a tenor of up to 35 years.
The Suvidha Plus Auto loan will be offered for up to Rs. 25 lakh covering the on-road price with a tenor of up to 7 years.

Q) The economic growth slowed to a seven-year low of _______ per cent in April to June quarter from 8 per cent a year ago?
A. 6 %
B. 5%
C. 7 %
D. 6.5%

Economy slumps to 7-year low, GDP growth slows to 5 pc in Q1 FY20
The economic growth slowed to a seven-year low of 5 per cent in April to June quarter from 8 per cent a year ago.
The slowdown was largely due to a sharp dip in the manufacturing sector and agriculture output, said the Ministry of Statistics and Programme Implementation in a statement.

Q) The Asian Development Bank (ADB) has committed over $_______ billion in lending to India over the next three years (2020-22)?
A. $ 10 billion
B. $ 5 billion
C. $ 12 billion
D. $ 7 billion

ADB willing to lend over $12 billion to India over the next three years
The Asian Development Bank (ADB) said it was ready to commit over $12 billion in lending to India over the next three years (2020- 22), pledging support to the Narendra Modi-led government’s new flagship initiatives such as the Jal Jeevan Mission.
Currently, ADB’s sovereign lending to India is about $3 billion annually, while its non-sovereign commitment (including private sector) is about $1 billion every year.

Q) Fitch Solutions has predicted India’s GDP for 2019-20 at what percent?
A.6.4%
B.6.7%
C.6.3%
D.6.6%

Fitch revises India’s GDP growth for FY20 to 6.4%
Fitch Solutions has revised its GDP growth rate prediction for India in FY20 (2019-20) to 6.4% from 6.8% earlier.

Q) World Bank has approved the Pro-Poor Tourism Development Project in which state of worth $ 57.14 million?
A. Jharkhand
B. Uttar Pradesh
C. Karnataka
D. Bihar

World Bank to fund pro-poor tourism development project in UP worth $57.14 mn
World Bank will fund ‘pro-poor tourism’ (PPT) development projects worth more than $57 million in top tourist hotspots of Agra and Braj-Mathura regions in Uttar Pradesh.
Out of this World Bank will contribute 70% (USD 40 million) and the remaining 30% will be borne by the Uttar Pradesh State Government.
Pro-Poor Tourism (PPT) projects are aimed at creating job-oriented economic activities related to tourism by ramping up basic infrastructure and value-added services.
UP is among the leading tourist destinations in India. According to statistics from the union tourism ministry, UP ranked second in the country after Tamil Nadu for attracting the highest number of domestic backpackers, more than 233 million and aggregating 14.2% share, in 2017.
In terms of foreign tourists, UP ranked third after Maharashtra and Tamil Nadu for the highest number of tourists at more than 35 million and cornering 13.2% share in 2017.

Q) What is the GDP growth rate predicted for India as per DBS in FY20?
A.6.2%
B.6.4%
C.6.7%
D.6.3%

DBS reduces India’s GDP growth rate for FY20 to 6.2%
Singapore’s banking group DBS has cut India’s GDP growth rate projection for 2019-20 (FY20) to 6.2% from 6.8% projected earlier.
For FY21, the GDP growth rate for India is projected at 7.0%.

Q) The Employees’ State Insurance Corporation (ESIC) has signed an MoU with which bank to provide real-time payment services for beneficiaries of ESIC?
A. Punjab National Bank
B. Bank of Baroda
C. State Bank of India
D. Canara Bank

ESIC ties up with SBI for real-time payments to ESIC beneficiaries
The Employees’ State Insurance Corporation (ESIC) and the State Bank of India (SBI) have signed a memorandum of understanding (MoU) to provide electronic payment services for beneficiaries of ESIC.
The payments will be made directly to bank accounts of all ESIC beneficiaries and payees. SBI will provide e-payment integration to ESIC through its cash management product e-payment technology platform.
This will enable payments on real-time basis, reducing time lags and delay.

Q) Anshula Kant who has given her resignation was the Managing Director of which Bank?
A.Punjab National Bank
B. Bank of Baroda
C. State Bank of India
D.Indian Bank

Government accepts State Bank of India MD Anshula Kant’s resignation
The government has accepted the resignation of State bank of India’s managing Director Anshula Kant, following her appointment as MD and chief financial officer of the World Bank.
Kant was appointed as the managing director and chief financial officer of the World Bank.

Q) The Reserve Bank will soon introduce varnished currency notes of which denomination on a field trial basis?
A. ₹50
B. ₹200
C. ₹500
D.₹100

Varnished 100 rupee currency notes to be introduced soon
The Reserve Bank will soon introduce varnished currency notes of ₹100 denomination on a field trial basis.
varnishing of banknotes is expected to increase their life and durability, reduce the banknote replacement requirements and thereby lower the overall security printing expenditure.

Q) Who has been appointed as the Managing Director and Chief Executive Officer of Paytm?
A. Pravin Jadhav
B. Vijay Shekhar Sharma
C. Kalyan Krishnamurthy
D. Kunal Bahl

Q) A joint India – New Development Bank workshop was held in which city recently?
A. Bengaluru
B. New Delhi
C. Noida
D. Mumbai

Q) What will be India’s GDP growth for FY 2020 as per the CRISIL?
A.6.7%
B.6.3%
C.6.9%
D.6.1%

CRISIL cuts India’s GDP growth to 6.3% in FY20
Global rating agency CRISIL has downgraded India’s GDP growth to 6.3% in FY20 from earlier prediction of 6.9%.
This comes after the Indian Economy grew at 5% in the first quarter of FY20.

Q) India has overtaken which country to move into the list of top ten countries in terms of total gold reserves?
A.France
B.Germany
C.Netherlands
D.Sweden

India among top 10 nations in gold reserves
India has pipped the Netherlands to move into the list of top ten countries in terms of total gold reserves.
According to the World Gold Council, India has gold reserves totalling 618.2 tonnes, which is marginally higher than the Netherlands’ reserves of 612.5 tonnes.
Interestingly, in terms of individual countries, India actually ranks ninth since the International Monetary Fund (IMF) occupies the third position after the U.S. and Germany.

Q) Wipro Limited has bagged a strategic contract valued at $300 million from which bank?
A. Axis Bank
B. HDFC Bank
C. Yes Bank
D. ICICI Bank

Wipro bags $300-million deal from ICICI Bank
IT services major Wipro Limited has bagged a strategic contract valued at $300 million from the ICICI Bank.
Under the contract, Wipro will offer a comprehensive suite of services to ICICI Bank for the next seven years, starting September 2019.

Q) Which foreign bank has launched a DigiSmart credit card?
A. Citibank
B. HSBC Bank
C. Deutsche Bank
D. Standard Chartered Bank

Standard Chartered Bank launches “DigiSmart” credit card
Standard Chartered Bank, a British multinational banking and financial services company has launched a DigiSmart credit card. The primary focus of the Bank on the evergrowing segment of millennials.
The credit card will offer instant discounts and benefits across key e-commerce categories of travel, entertainment, fashion, groceries, and food delivery around the year.

Q) New Development Bank (NDB) will provide a loan of Rs 6,000 crore to which state for various social infrastructure projects?
A. Tamil Nadu
B. Odisha
C. Andhra Pradesh
D. Karnataka

NDB to provide Rs 6,000 crore loan to Andhra Pradesh for social infrastructure projects
New Development Bank (NDB) will provide a loan of Rs 6,000 crore to Andhra Pradesh for various social infrastructure projects in the state.
The amount will be used for social infrastructure projects. The loan will be repaid in 32 years.

Q) India and Asian Development Bank (ADB) has signed 200 million dollar loan agreement to upgrade rural roads in 34 districts of which state to improve road safety?
A. Gujarat
B. Jharkhand
C. Uttar Pradesh
D. Maharashtra

India and ADB signs 200 million dollar loan agreement
India and Asian Development Bank (ADB) has signed 200 million dollar loan agreement. Under the agreement, they will upgrade rural roads in 34 districts of Maharashtra to improve road safety.
The project aims to improve the condition of about 2,100 km of rural roads to all-weather standards, with climate resilience and safety features.

Q) Mahabaleshwara MS, Managing Director and Chief Executive Officer of which bank, has been inducted to the managing committee of Indian Banks’ Association (IBA)?
A. Bank of Maharashtra
B. Karnataka Bank
C. Canara Bank
D. Bank of India

Karnataka Bank chief becomes IBA committee member
Mahabaleshwara MS, Managing Director and Chief Executive Officer of Karnataka Bank, has been inducted to the managing committee of Indian Banks’ Association (IBA).
He was elected unopposed from the Private Sector Member Banks’ category.

Q) World Bank will provide Rs ________ crore funds to finance mini and mega food parks in India?
A.Rs 2,000 crore
B.Rs 3,000 crore
C.Rs 4,000 crore
D.Rs 5,000 crore

World Bank to sanction Rs 3,000 crore for food parks
Himachal’s first mega food park in UNA
Telangana’s first mega food park in Nizamabad
Gujarat’s first mega food park in Surat
Rajasthan’s first mega food park in Ajmer
Maharashtra’s first mega food park in Satara
Odisha’s first mega food park in Rayagada
India’s first Aqua Mega Food Park – West Godavari, Andhra Pradesh

Q) RBI has increased the banks’ exposures limit to a single NBFC from 15 percent of their available eligible capital base to what percent?
A. 17 %
B. 22 %
C. 20 %
D.25 %

RBI increases banks’ exposures to a single NBFC from 15% to 20%
RBI has increased loan exposure limit of banks to a single NBFC (excluding gold loan companies) from 15% to 20% of its capital base, a move that will help increase credit supply to the crisis-ridden shadow banking sector.
The government on its part has also been taking steps to increase liquidity in the NBFC sector, which was hit after default by IL&FS Group.
The liquidity crunch in the NBFC sector has hit the retail loan segment in the country leading to slowdown in key consumer sector lending.

Q) The Reserve Bank of India has reduced the Risk Weight for Consumer Credit except credit card receivables from 125% to what percent?
A.121%
B.100%
C.120%
D.119%

RBI cuts risk weight on consumer credit from 125% to 100%
The Reserve Bank of India (RBI) has reduced the risk weight requirement for consumer loans to 100 per cent, a move that will reduce cost of such loans.
Currently, the risk weight requirement for such loans is 125 per cent.
The relaxed requirement would not be applicable to credit cards.
The RBI’s move is likely to boost consumer spending in the coming festive season.