Banking & Economy Question PDF 2016 by AffairsCloud PDF

Banking & Economy
Capsule 2016
Dear AC Aspirants,
General Awareness section is very important in banking, insurance and

related exams. One can increase his/her chances of clearing the written
exam with good marks if he/she scores good marks in GA section.
In 2016, we have observed that the exams are asking current banking and
economy questions more in GA section. So with this observance and to
help you in the upcoming exams of the year, we have gathered all the
banking and economy current NEWS of this year from January to July.
The future belongs to those who believe in the beauty of their dreams.
Always insist on yourself never imitate.
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Banking & Economy 2016

Table of Contents
Banking/Economy Awareness JANUARY 2016 ........................................................................................... 2
Banking/Economy Awareness FEBRUARY 2016 ........................................................................................ 7
Banking/Economy Awareness MARCH 2016 ............................................................................................. 12
Banking/Economy Awareness APRIL 2016 ................................................................................................ 17
Banking/Economy Awareness MAY 2016 ................................................................................................... 21
Banking/Economy Awareness JUNE 2016 .................................................................................................. 28
Banking/Economy Awareness JULY 2016 .................................................................................................. 34
Banking/Economy Awareness JANUARY 2016

1) For hotel bill over how much amount the PAN card is made by necessary by the government from
January 1, 2016?
Ans: For bills exceeding Rs 50,000
Explanation:
PAN necessary for purchase of jewelry above Rs. 2 lakhs, for purchase of immovable property over Rs. 10
lakhs (previously Rs 5 lakhs)
2) What is the rank of India in in Global Talent Competitiveness Index 2015-16?
Ans: 89
Explanation:
Reflecting an acute shortage of skilled labour force and difficult business conditions, India has slipped 11
places to rank 89th on a global index of talent competitiveness, a list which has been topped by Switzerland.
3) According to World Bank Report, India to grow ___ in year 2016?
Ans: 7.8%
Explanation:
Reflecting an acute shortage of skilled labour force and difficult business conditions, India has slipped 11
places to rank 89th on a global index of talent competitiveness, a list which has been topped by Switzerland.
4) Which company acquired Shifu, a context-aware personal assistant application for $8 mn?
Ans: Paytm
Explanation:
It will enable Paytm to offer more personalized user experience.
5) Which of the following company acquired French telecom equipment company Alca-Lucent for
15.6 billion euro?
Ans: Nokia
Explanation:
Finland-based Nokia and French telecom gear maker Alcatel Lucent today announced their merger in a 15.6
billion euro deal.
6) World Economic Forum meeting 2016 held in
Ans: Davos, Switzerland
7) IRB infrastructure Developers Ltd. bagged to build which Pass Tunnel project?
Ans: Zojila Pass tunnel in Leh Ladakh, Jammu and Kashmir
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Explanation:
IRB Infrastructure will build Southeast Asia's longest tunnel at Zojila pass in Jammu & Kashmir at an
estimated cost of Rs 10,050 crore to provide all weather connectivity to the Leh-Ladakh region.
8) In January, SEBI slapped Rs 10 lakh fine on which bank?
Ans: Vijaya Bank
Explanation:
Vijaya Bank is registered with SEBI as a debenture trustee. Fine slapped for alleged violation of norms
related to debenture trustee.
9) Which automaker company topped in global vehicle sales in 2015?
Ans: Japanese automaker Toyota Motor Corp.
Explanation:
In the full calendar year 2015, #1 Toyota globally produced 10.08 million units, some 150,000 vehicles
ahead of the 9,930,600 units Volkswagen delivered to customers in the period. General Motors remains 3rdranked with 9.8 million units to its name.
10) Advertising Standards Council of India (ASCI) asked celebrities not to endorse which products
ads?
Ans: Pan masala
Explanation:
Advertising industry body the Advertising Standards Council of India (ASCI) will investigate campaigns by
pan masala brands featuring celebrities for violation of its code in the wake of the Delhi government asking
stars such as Ajay Devgan and Shah Rukh Khan not to promote such items.
11) Which company launched countrys first social digital wallet Udio?
Ans: Digital payment startup TranServ
Explanation:
Udio Wallet integrates a social, community-driven aspect with anytime, anywhere accessibility to digital
P2P (peer-to-peer) transactions via its secure and seamless payment structure, creating a ubiquitous
ecosystem for both consumers and brands.
12) Which Indian industrialist invested undisclosed amount in Tracxn, a startup research platform?
Ans: Ratan Tata
Explanation:
With this investment, Tracxn will join the list of nearly two dozen startups and tech companies that Tata has
backed since 2014. This includes Snapdeal, Ola Cabs, Paytm, Urbanladder, Xiaomi with UrbanClap and
DogSpot among the recent bets.
13) Which Indian industrialist invested in baby care platform, Firstcry?
Ans: Ratan Tata
14) Which Indian industrialist invested in Cashkaro.com, an e-commerce comapny?
Ans: Ratan Tata
15) Which of the following got nod to acquire Goldman Sachs onshore business in India like mutual
funds and exchange-traded funds?
Ans: Reliance Capital Asset Management
Explanation:
Reliance Capital Asset Management, part of the Anil Ambani-led group, said it has got the Competition
Commission of Indias (CCI) nod for acquiring Goldman Sachss onshore business in India like mutual
funds and exchange-traded funds.
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16) Which company joined hands with foods giant Mars Inc for agriculture development in the
country?
Ans: Tata Trusts
Explanation:
Tata Trusts, India's oldest philanthropic organisation, along with the $33 billion foods giant Mars Inc will
invest in the country's agri-food sector. The two will work together on agriculture development, malnutrition
reduction and food safety improvement in Asia's third-largest economy.
17) The app Indian Customs-Guide to Travellers has been launched by
Ans: Customs Department
Explanation:
Central Board of Excise and Customs (CBEC) has launched mobile app, namely, 'Indian Customs- Guide to
Travellers'.
The mobile App has been developed by Bengaluru Customs to inform international travelers who may,
inter-alia, be traders/exporters/importers about Customs Baggage rules. The app is available on Android
Play store, Apple Store and Windows Store.
18) Which company acquired online real estate portal Commomfloor.com?
Ans: Quikr
19) Reliance Defence bought which defence companys stake in Pipavav Defence and Offdhore
Engineering Company Limited?
Ans: defence company Saab
20) Which company inked MoU with Andhra Pradesh Government for expansion of states steel plant
Vizianagaram district?
Ans: Steel Exchange India Ltd. (SEIL)
Explanation:
Steel Exchange India Limited has inked a memorandum of understanding with Andhra Pradesh Government
for expansion of its steel plant in Vizianagaram district of Andhra Pradesh.
21) Chinas Alibaba opened its first Indian trade facility centre at
Ans: Jaipur
Explanation:
Alibaba.com, the wholesale trading platform of China's Alibaba Group, today unveiled its first physical
trade facility centre in the country at Jaipur and a Hindi portal, aimed at connecting small and medium
businesses with global buyers.
22) To reduce insurance cost of Indian ship-owners, Centre planned to get four public sector general
insurers to have a new joint venture. These 4 insurers are
Ans: New India Assurance, United India Insurance, National Insurance Company and Oriental Insuarce
Company
Explanation:
To reduce the insurance cost of Indian ship-owners, the Centre plans to get the four public sector general
insurers to float a new joint venture. The venture will exclusively provide cover to ships operating in Indian
and South Asian waters. The Shipping Ministry is spearheading the move to set up the company.
23) Which company acquired US-based firm Magnet 360 for $50 mn?
Ans: Mindtree
Explanation:
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Mindtree has acquired Magnet 360, a US-based Salesforce consulting partner, for $50 million in an all cash
deal. The company has Honeywell, Nike, Cargill among its clients. The deal, expected to close in the next
two months, will see about 150 people joining Mindtree.
24) Zee Entertainment Enterprises Ltd announced to launch a free-to-air TV channel in which
country?
Ans: Germany
Explanation:
India's leading media conglomerate, Zee Entertainment Enterprises Limited (ZEEL) today announced its
foray into Germany. The company also shared its plans to launch a free-to-air television channel for this
market by mid-2016. This FTA channel, for the first time, will bring high-quality Bollywood films produced
by the Indian film industry as well as popular Indian television series to German screens, 24-hours a day.
25) Who launched algorithm trading test environment in partnership with Symphony Fintech
Solutions Pvt Ltd.?
Ans: Bombay Stock Exchange (BSE)
Explanation:
BSE launched an algorithm trading test facility for investors on its equity and derivatives platform. The new
service is free-of-cost for market participants. Algorithmic trading or algo trading refers to orders on bourses
that are generated using high-frequency, automated execution logic.
26) SEBI released report on Alternative Investment Policy, a report by
Ans: Narayan Murthy-panel
Explanation:
The Securities and Exchange Board of India (Sebi) panel on Alternative Investment Funds(AIFs) headed by
Infosys founder NR Narayana Murthy, has proposed creating a favourable tax environment for investors,
tweaking of safe harbour rules, unlocking domestic pools of capital, enabling onshore fund management in
India and reforming the AIF regulatory regime.
27) According to UN report, which country is going to be the fastest growing economy in 2016?
Ans: India
Explanation:
India will be the world's fastest growing large economy at 7.3% in 2016, improving further to 7.5% in the
following year, a United Nations world economy report said.
28) India Post opened exclusive counters at business post centres in Gurgaon and Faridabad for which
e-commerce sellers?
Ans: eBay India
Explanation:
In yet another move to capture eCommerce space, India Post has opened up exclusive counters at the
Business Post Centres in Gurgaon and Faridabad exclusively for eBay India sellers.
Through these exclusive shipping counters, eBay India sellers will be able to ship their international as well
as domestic parcels. eBay India has over 65,000 sellers in India.
29) Which software services company acquired cloud-based computing firm KBACE Technologies?
Ans: US based Cognizant
Explanation:
This acquisition will help Cognizant to strength and expands its digital capabilities from its critical business
applications to cloud-based IT infrastructures.
30) India overtakes which country to become Worlds largest Rice exporter in the year 2015?
Ans: Thailand
Explanation:
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India has overtaken Thailand as the world's largest rice exporter in 2015, shipping 10.23 million tonnes, a
top Thai rice exporters body said.
31) RBI announced to open bank branches in villages over 5,000 population by
Ans: March 2017
Explanation:
Reserve Bank said every village with a population over 5,000 should have a bank branch by March 2017
and asked the SLBC's to identify such villages without a bank branch in their state.
32) NABARD signed MoU with which institution to monitor Indo-German Watershed Development
Projects?
Ans: National Remote Sensing Centre
Explanation:
National Bank for Agriculture and Rural Development (Nabard) today signed a Memorandum of
Understanding (MoU) with National Remote Sensing Center (NRSC) for web-based monitoring of
watershed projects.
The web-based monitoring of Indo-German Watershed Development (IGWDP) projects will happen in three
states, Gujarat, Rajasthan and Telangana, Nabard said in a statement.
33) Which bank partnered with FINO PayTech to foray into payments bank space?
Ans: ICICI Bank
34) HDFC Standard Life has incorporated its reinsurance arm at which place?
Ans: Dubai
Explanation:
HDFC Standard Life Insurance Company, a subsidiary of Housing Development Finance Corporation
(HDFC), has incorporated a wholly-owned subsidiary in the Dubai International Financial Centre (DIFC).
Called HDFC International Life and Re Company Ltd (HILRCL), it will have an initial capital outlay of
$12.33 million.
35) In January 2016, SBI opened its first branch in which country?
Ans: South Korea
Explanation:
Country's largest lender State Bank of India (SBI) today said it has opened its first branch in South Korea.
The Seoul branch is expected to play an important role in strengthening economic partnership between the
two nations, the bank's Managing Director B Sriram said.
36) SBI launched SBI E-Smart SME to offer loans to
Ans: e-commerce sellers
Explanation:
Countrys largest lender State Bank of India today announced launch of SBI e-Smart SME to offer easy
working capital to online e-commerce players. The bank has initially tied up with e-commerce major
Snapdeal to offer instant loans to its sellers.
37) Syndicate Bank used which folk art form to popularize financial inclusion?
Ans: Yakshagana
Explanation:
At a time when banks are making efforts to popularise financial inclusion and social security schemes,
Syndicate Bank is all set to use a folk art form Yakshagana to take them to the masses. The bank has
come out with a 10-minute Yakshagana CD in Kannada and Hindi. In Yakshagana, a folk theatre form,
artistes use songs, dance and dialogues to perform.
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38) Which bank offered the MUDRA loans for women entrepreneurs or Boutique Finance for them
under Pradhan Mantri MUDRA Yojana (PMMY)?
Ans: SBI
40) Freecharge partnered with MasterCard and which bank to launch virtual card?
Ans: Yes Bank
Explanation:
FreeCharge, the payments unit of e-commerce marketplace Snapdeal (run by Jasper Infotech Pvt Ltd)
launched virtual prepaid cards called FreeCharge Go in partnership with MasterCard and Yes Bank Ltd.
39) RBI issued which denominations coins on BR Ambedkars anniversary?
Ans: Rs 10 coins
40) Which bank launched first dedicated specialized branch for start-ups in the country?
Ans: State Bank of India (SBI) in Bengaluru, Karnataka. The branch is called SBI InCube.
Banking/Economy Awareness FEBRUARY 2016

1) Which three Indian IT companies joined Obamas computer science for all plan?
Ans: Infosys, TCS and Wipro
Explanation:
Three major Indian IT companies - Infosys, Tata Consultancy Services and Wipro - have joined US
President Barack Obama's ambitious computer science for all initiative as part of a public-private
collaboration, pledging over $3 million in grants.
2) ITC Ltd has planned to open its first overseas hotel in which country?
Ans: Sri Lanka
Explanation:
Diversified conglomerate ITC Ltd plans its first overseas hotel at Colombo, Sri Lanka, in 2018. The Sri
Lankan property will be a super-premium one and branded as ITC.
3) Which airways launched booking feature called Fare Lock to allow flexibility to passengers in
purchasing tickets?
Ans: Jet Airways
Explanation:
Jet Airways, India's premier airline has introduced a new booking feature called 'Farelock', which allows the
passengers the flexibility to retain a selected fare for a limited period of time before confirming the purchase
at a later date.
4) Which company overtook Apple to become the highest valued company in the world?
Ans: Alphabet, company that owns Google
Explanation:
Google parent Alphabet Inc. is now the worlds most valuable company, stealing the crown from Silicon
Valley rival Apple Inc. after reporting higher profit and sales fueled by a booming advertising business
thats supporting ambitious new projects.
5) BSE with which institution developed corporate governance scorecard?
Ans: IFC
Explanation:
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BSE and the International Finance Corporation (IFC) have partnered to develop a corporate governance
scorecard. The scorecard seeks to help companies assay their corporate governance performances against
national or international-benchmarked practices.
6) Anil Ambani, Reliance group chairman announced to open Dhirubhai Ambani Centre for
Innovation and Research in
Ans: Bengaluru
Explanation:
Reliance Group Chairman Anil Ambani announced the establishment of Dhirubhai Ambani Centre for
Innovation and Research in Aerospace at Whitefield in Bengaluru.
7) Which company received SEBI nod for mutual fund business?
Ans: Mahindra Asset Management Company
Explanation:
Mahindra Asset Management Company has received markets regulator Sebi's approval for setting up of
mutual fund business.
8) Which company entered mobile gaming platform with mSportz?
Ans: Tech Mahindra
Explanation:
Tech Mahindra Ltd has entered into the mobile gaming entertainment space with the launch of a mobile
gaming live streaming platform mSportz.tv, under its Growth Factory initiative.
9) ________ received geo-tag for authenticity.
Ans: Indian Basmati
Explanation:
Traditional Basmati farmers in India have got a boost with the Intellectual Property Appellate Board (IPAB)
ordering the Geographical Indications Registry to give GI recognition for the aromatic rice.
10) Which institute partnered with Nokia to create tech solutions to enhance Rural Broadband
connectivity?
Ans: IIT-Madras
Explanation:
IIT Madras has partnered with Nokia to create technology solutions that will enhance broadband
connectivity in rural India. Under the three-year partnership, Nokia will fund and provide technological
expertise for research at IIT-M's Center of Excellence for Wireless Technology (CEWiT).
11) Indian Railway Catering and Tourism Corporation (IRCTC) entered into tie up with leading tea
caf chain
Ans: Chaayos
Explanation:
The steaming cup of tea, an inseparable part of any train journey, is going to be tastier and customized in
choicest flavours with Indian Railway Catering and Tourism Corporation (IRCTC) entering into a tie up
with leading tea cafe chain Chaayos.
12) According to CRISIL, India is likely to grow at ____ in 2016-17.
Ans: 7.9%
Explanation:
As per the rating agency Crisil's latest report, GDP is expected to grow by 7.9 per cent in 2016-17 as against
7.6 per cent in the previous fiscal if "monsoon is normal and global situation does not deteriorate from here".
13) Which company hiked its stake in Reliance Life?
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Ans: Nippon Life
Explanation:
Reliance Capital has announced that Japan's Nippon Life Insurance has increased its stake in Reliance Life
Insurance by 23 per cent, taking its total holding to 49 per cent.
14) As a part of Make in India Campaign, which IT company is going to open its first campus in
India?
Ans: Oracle.
Explanation:
It will be first campus outside the US. It will be opened in Bengaluru.
15) Government sold its _____ stake in NTPC.
Ans: 5%
16) Apple is to set up its first technology centre in India at
Ans: Hyderabad.
Explanation:
It will be first such centre outside the US.
17) Big Bazaar Direct tied up with which payment solutions company to expand its reach?
Ans: Oxigen
Explanation:
Big Bazaar Direct, the assisted e-commerce business of the Future Group, is expanding its distribution reach
by tying up with payment solutions company, Oxigen. With 2 lakh retailers across categories such as money
transfer and DTH recharges, Oxigen is expected to enhance the distribution of Big Bazaar Direct at a time
when Internet penetration in the country is still low.
18) Which company tied up with Odisha govt. for Aluminum Park in the state?
Ans: Vedanta
Explanation:
Vedanta Limited has reached an understanding with the Government of Odisha to commission an aluminium
park in Jharsuguda. The two sides reached an intention sharing on the sidelines of the Make in India Week
in Mumbai and a MoU would be signed in few months.
19) Which country won World Trade Organization (WTO) dispute against Indias solar rules?
Ans: The USA
Explanation:
The United States won a ruling against India at the World Trade Organization on Wednesday after
challenging the rules on the origin of solar cells and solar modules used in India's national solar power
program.
20) Union Cabinet approved $150 million credit for Chabahar Port Development in
Ans: Iran
Explanation:
For greater trade and investment flow with Iran and neighbouring countries, government today cleared
proposals for development of strategic Chabahar port in the Persian Gulf nation including through a$150
million credit from Exim Bank.
21) Which media corporation acquired up uo 80% stake in 2 India Today firms?
Ans: Zee media
Explanation:
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Zee Media Corporation will acquire up to 80 per cent stake in India Today group's loss-making e-commerce
and TV shopping entities Today Merchandise and Today Retail Network Pvt Ltd for Rs 165.78 crore in
staggered payments over the next four years.
22) Department of Industrial Policy and Promotion (DIPP) gives nod to set up Indias first Defence
Industrial Park at
Ans: Ottappalam, Kerala
Explanation:
Department of Industrial Policy and Promotion (DIPP) of Union Government has given its final approval to
Kerala Governments approval to set up Indias first Defence Industrial Park at Ottappalam.
23) Which country is to set up plant for US-2 amphibious aircraft in India?
Ans: Japan
Explanation:
Japans ShinMaywa Industries is planning to set up manufacturing plant of US-2 amphibious aircraft in
India under Make in India initiative to cater to international demands.
24) Indias first aviation park is to set up in
Ans: near Bagodara village in Ahmedabad district, Gujarat
Explanation:
To strengthen the aviation sector in Gujarat, the state government has planned to set up the country's firstever Aviation Park here having a slew of facilities including an airstrip, training school, helipad and space
for setting up small manufacturing units among others.
25) According to IIRIS report, which state topped in Internet Readiness Index?
Ans: Maharashtra
Explanation:
As per recently released Index of Internet Readiness of Indian States (IIRIS) report, Maharashtra has topped
in terms of the overall Internet readiness index.
26) Jharkhands first mega food park was inaugurated by Union Food Processing Minister Harsimrat
Kaur Badal at
Ans: village Getalsud in Ranchi
Explanation:
In order to give an impetus to the growth of the Food Processing Sector in Jharkhand, the first Mega Food
Park in the State promoted by M/s. Jharkhand Mega Food Park Pvt. Ltd. was inaugurated today by Smt.
Harsimrat Kaur Badal, Union Minister of Food Processing Industries at Village Getalsud, District Ranchi.
27) RBI extended currency swap arrangement to South Asian Association for Regional Cooperation
(SAARC) nations till
Ans: mid-November 2017
Explanation:
In order to enhance economic cooperation and strengthen financial stability, RBI has extended the $2 billion
currency swap arrangement to SAARC nations till mid-November 2017.
28) Which bank won Best Social Bank Excellence Award 2015?
Ans: Corporation Bank
Explanation:
Corporation Bank has won three awards in Best Social Bank Excellence Award 2015, instituted by the
Associated Chambers of Commerce and Industry of India (ASSOCHAM).
29) Which bank launched FlexiPay home loan scheme for young working professionals?
Ans: SBI
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Explanation:
Under the scheme, 'SBI FlexiPay Home Loan', the additional loan amount will help such professionals in
acquiring better and spacious living spaces for themselves and their families, the country's largest lender
said in a statement here.
30) Which bank tied up with Thomas Cook for inflation-proof holidays?
Ans: SBI
Explanation:
Thomas Cook (India) Ltd., Indias leading integrated travel and travel related financial services company,
announced a partnership with State Bank of India (SBI), Indias largest Bank, to offer the Thomas Cook
Holiday Savings Account (HAS) to the banks customers.
31) RBI set up ombudsman scheme for which companies?
Ans: NBFCs
Explanation:
Rising complaints against non-banking finance companies (NBFCs) regarding deficiency in services has
prompted the Reserve Bank of India to examine the possibility of coming up with an NBFC-specific
ombudsman scheme, akin to the one that has been operational for banks in the last two decades.
32) Union Government announced to lower stake to how much in PSU Banks?
Ans: 51%
Explanation:
The government will soon announce a series of major banking reforms, including lowering its stake in stateowned banks to 51 per cent, Union Finance Minister Arun Jaitley said
33) For 2015-16, PF interest hiked to how much percent?
Ans: 8.8%
Explanation:
The employees' provident fund will earn a higher interest rate of 8.8 per cent for 2015-16, marginally up
from the existing 8.75 per cent.
There has been demand to hike the PF interest rate to 8.90 per cent.
34) Where did SBI opened the Japan Desk?
Ans: Delhi
Explanation:
State Bank of India (SBI) launched 'Japan Desk', a first-of-its-kind initiative to facilitate Japanese corporates
looking to invest here with banking and advisory services. This SBI Japan Desk will serve as an one-point
comprehensive and reliable information support source for India-bound investments of Japanese companies.
35) Yes Bank partnered which whom to launch payments services?
Ans: UltraCash Technologies
Explanation:
This partnership will enable Ultracash to issue Yes Bank sponsored mobile wallets and employ Yes Bank's
immediate payment service (IMPS) payments platform to enable processing of instant proximity
transactions
36) Which bank bagged IBA Banking Technology Award?
Ans: Karnataka Bank
Explanation:
City based Karnataka Bank has bagged IBA Banking Technology Award in the category of Best Risk and
Fraud Management Initiative - runner up amongst small banks.
37) Aditya Birla Nuvo announced its joint venture with which company for Payments Bank?
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Ans: Idea Cellular
Explanation:
The company jointly with Idea Cellular Ltd has incorporated a new subsidiary for the aforesaid purpose in
the name and style of Aditya Birla Idea Payments Bank Ltd, Aditya Birla Nuvo Ltd (ABNL) said in a BSE
filing.
38) Which card company is to launch payments by selfie?
Ans: MasterCard
Explanation:
MasterCard wants to ditch the old-fashioned password and use selfies to approve online purchases. The
company announced it is launching new mobile technologies that will allow customers to authenticate their
online purchases using selfies or fingerprints.
39) Which bank won inaugural Green Bond Award in UK?
Ans: Yes Bank
Explanation:
Yes Bank was recognised for its pioneering efforts in the Green Bonds market; including the highly
successful issuance of India's first ever Green Infrastructure Bonds
Banking/Economy Awareness MARCH 2016

1) Indian Railways launched bar coding system for
Ans: unreserved tickets
Explanation:
The bar coding project has been introduced as a pilot project at nine ticket counters in these stations. The
circulation of unauthorised tickets was affecting railways revenue. The bar coding system will prevent such
malpractices
2) India has inked deals for Apache and Chinnok Helicopters with which country?
Ans: the USA
3) Which institution launched Uridashi Masala Bonds?
Ans: International Finance Corporation (IFC).
Explanation:
Uridashi Uridashi Masala Bonds Japanese bonds
4) Which e-commerce company launched its own advertisement platform, Brand Story Ads?
Ans: Flipkart
Explanation:
Brands including Yes Bank, LOreal, Micromax, Intel, Gillette, Datsun and Sony have signed up with
Flipkart to launch their ad campaigns on the platform.
5) According to global rating agency Fitch, India will grow at what rate over the next two financial
years?
Ans: 7.5%
6) Union Govt. decided to withdraw tax proposal on which fund? The tax was proposed on it in the
Union Budget 2016-17.
Ans: EPF (Employee Provident Fund)
Explanation:
The Union Finance Ministry announced to withdraw its proposal to tax Employee Provident Fund (EPF)
withdrawals. It was announced by Union Finance Minister Arun Jaitley in the Lok Sabha clarifying NDA
governments stand on the issue. However, government did not chang its plan to tax National Pension
Scheme (NPS) withdrawals.
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7) For electrification of Lalitpur-Udaipura rail section, Indian Railways signed agreement with?
Ans: Bajaj Power
Explanation:
Bajaj Power Generation Company has signed an agreement with the Railways for electrification of the
Lalitpur-Udaipura rail section under the public private partnership (PPP).
8) Travel solutions provider Thomas Cook India signed pact with Western Union Business Solutions
and which bank to facilitate international trade payments by MSMEs?
Ans: DCB Bank
Explanation:
This alliance is a pioneering move by Thomas Cook India, to penetrate the high-growth Indian SME
segment for its international trade payment requirements
9) Which company is appointed as consultant by Railways to discover advertising potential of trains
and stations?
Ans: Ernst & Young
Explanation:
Initiating a large-scale significant exercise to identify and leverage pan-India advertising opportunities at
Railway Stations and Trains, Indian Railways has appointed EY in India as Consultant to undertake this job
on its behalf. EY is a global leader in its Assurance, Tax, Transaction and Advisory services.
10) For how much amount, CCEA approved the Pradhan Mantri Ujjwala Yojana?
Ans: Rs 8000 crore
Explanation:
The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Shri Narendra Modi, has
approved Pradhan Mantri Ujjwala Yojana - Scheme for Providing Free LPG connections to Women from
BPL Households. Under the scheme, Rs 8000 crore has been earmarked for providing five crore LPG
connections to BPL households. This Scheme would be implemented over three years, namely, the FY
2016-17, 2017-18 and 2018-19.
11) According to CRISIL, Indias GDP will grow at the rate of
Ans: 7.9%
12) To which country, India will supply 18 Meter Gauge Diesel Electric Locomotives?
Ans: Myanmar
Explanation:
India will supply 18 metre-gauge diesel-electric locomotives to Myanmar to help the country bolster its rail
transportation system.
A contract to this effect was signed on March 4, 2016 at Naypyitaw, Myanmar, between RITES, an Indian
public sector undertaking under the railway ministry and Myanmar Railways
13) French tyre major Michelin tied up with e-commerce company to sell its products?
Ans: Snapdeal
14) Kotak Mahindra Group tied up with which countrys pension plan investment board for
investment in Indian stressed assets?
Ans: Canada
Explanation:
The Kotak MahindraBSE -0.70 % Group has tied up with Canada Pension Plan Investment Board (CPPIB)
to invest in stressed assets in India to take advantage of opportunities that arise as banks clean up account
books of bad assets.
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15) Which bank is likely to acquire RBS Bank Indias operations?

Ans: DBS Bank
Explanation:
DBS Group Holdings, Southeast Asia's largest bank, is set to acquire Royal Bank of Scotland Group's Indian
onshore operations for about Rs 1,000 crore, a much-awaited deal that will see the exit of Britain's biggest
governmentowned bank from one of the fastest-growing economies.
16) Hitachi is going to set up which firm in India?
Ans: ATM making firm
Explanation:
Japan's Hitachi Group has set up an ATM manufacturing firm in India with an investment of Rs 100 crore to
cash in on the growing number of banking users in the country.
17) Which bank gave $35 million loan for Madhya Pradesh Citizen Access to Responsive Services
Project?
Ans: World Bank
Explanation:
The project aims to improve access and quality of public services in the state through implementation of the
Public Service Delivery Guarantee Act, 2010.
18) In March 2016, Make in India conference was held in which country?
Ans: Sydney
Explanation:
Finance Minister Arun Jaitley launched 'Make in India' conference in Sydney and asked Australian
businesses to be the part of India's growth story.
19) How much FDI is approved by union govt. in Insurance sector?
Ans: 49%
Explanation:
Seeking to attract more foreign investment, the government has relaxed FDI norms for the insurance sector
by permitting overseas companies to buy 49 per cent stake in domestic insurers without prior approval.
Currently, up to 26 per cent FDI is permitted through the automatic approval route.
20) How much FDI is approved by union govt. in e-commerce marketplace?
Ans: 100%
Explanation:
The government has given the green light to 100% FDI in the marketplace format of e-commerce retailing
with a view to attract more foreign investments.
21) PVR Cinemas partnered with which digital payments company to sell its movie tickets online?
Ans: Paytm
Explanation:
Paytm has tied up with PVR, INOX, and multiple other cinema houses to sell movie tickets on its platform
as an extension to its digital bookings offering, breaking the near monopoly that BookMyShow has over
online entertainment business.
22) Which asset management company bought JP Morgan Asset Management India (JPMAM)
Ans: Edelweiss asset management
23) Dearness allowance has been hiked by how much by the central govt.?
Ans: 6%
Explanation:
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On the eve of Holi festival, the government hiked dearness allowance (DA) by 6 per cent, benefiting over 1
crore central government employees and pensioners.
24) How much amount has been approved for Swachh Bharat Mission?
Ans: Rs 9000 crore
Explanation:
The government announced allocation of Rs 9,000 crore for Swachh Bharat Abhiyan, the country's biggest
drive to improve sanitation and cleanliness, especially in rural India.
25) To promote chocolate KitKat Duo of Nestle, Nestle India tied up with which payment company?
Ans: Paytm
26) NTT Data bought Dells IT-Services consulting division arm. NTT Data is firm in
Ans: Japan
Explanation:
27) The govt. is to set up panel for consolidation on banks. It is considering ESOPs for PSU bank
officials. ESOP is
Ans: Employee Stock Ownership Plan
Explanation:
The government is considering ESOPs for PSU bank officials besides strengthening the SARFAESI Act and
Debt Recovery Tribunals to deal with the problems of stressed assets that are estimated at around Rs 8 lakh
crore in the banking system as whole.
28) Which bank got the first final license to set up small finance bank in the country?
Ans: Capital Area Bank
Explanation:
Capital Local Area Bank launched the country's first small finance bank in April 2016, seven months after
the Reserve Bank of India gave its in-principle approval for this new type of banks.
Ten entities were given in-principle approval for setting up small finance bank.
29) eShakti project is related to which of the banks?
Ans: NABARD
30) Which bank launched the programme iWork@home for women employees offering them to
work from home?
Ans: ICICI Bank
Explanation:
The company has deployed face recognition technology to facilitate women to work from home and provide
access to the banks core banking servers under. The programme iWork@ home will enable almost every
non-customer facing task to be done from home.
31) SBI got license to open its foreign branch in which country?
Ans: Myanmar
Explanation:
Bank for Investment and Development of Vietnam, State Bank of India, Taiwan's Sun Commercial Bank
and South Korea's Shinhan Bank were granted preliminary license.
The approval gives the banks 12 months to demonstrate they can fulfill business plans laid out in their
application to Myanmar's government before they will be granted permanent licenses.
32) Which bank launched its All-Women YES Grace branches?
Ans: Yes Bank
Explanation:
Private lender Yes Bank launched an all-women operated bank branch Yes Grace in Bengaluru aimed at
offering customised banking solutions to women.
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33) On Internationals Womens Day, which bank launched Smart Women Advantage plan?
Ans: SBI
Explanation:
To commemorate the International Women's Day, SBI Life Insurance launched 'SBI Life - Smart Women
Advantage' plan that provides for life cover, savings and female-specific critical illness benefits.
34) ICICI Bank launched credit linked subsidy scheme for which loans under Pradhan Mantri Awas
Yojana?
Ans: Home loans
Explanation:
Under this scheme, individuals including women borrowers from the economically weaker section and low
income group will be able to acquire and construct the first brick-and-mortar house of the family by paying
significantly lower equated monthly installments (EMIs)
35) RuPay is set to launch which cards in September this year?
Ans: Credit Cards
Explanation:
After the Rupay Debit Card which belongs to India, NPCI has decided to launch its much-delayed credit
card before the year-end.
36) Which bank inked pact with Indo-Brazil Chamber of commerce for cooperation in knowledge
sharing, skill and technology?
Ans: Yes Bank
Explanation:
Yes Bank has signed a strategic Memorandum of Understanding with India Brazil Chamber of Commerce
(IBCC) to enable significant cooperation in terms of knowledge partnerships, project consultancy, B2B
opportunities, skill and technology initiatives
37) Which international financial institution and India is to set up South Asia Regional Training and
Technical Assistance Center in Delhi?
Ans: IMF
Explanation:
IMF decided to set up a regional training and technical assistance centre in the capital with a view to
enhancing capacity development and training officials in dealing with macro-economic and financial issues.
38) India Post selected which company as consultant for its soon to be set up Payments Bank?
Ans: Deloitte
Explanation:
India Post has selected Deloitte to advise it on setting up a payments bank and an agreement between the
two will be signed on March 14.
39) Which bank tied up with sports car maker Ferrari to launch co-branded credit card?
Ans: ICICI Bank
Explanation:
The 'Ferrari Credit Card' comes in two variants on the Visa platform and offers customers a host of offers
including an all-expenses-paid trip for top spenders to Italy and also includes a Scuderia Ferrari watch as a
joining gift
40) RBI has asked banks to pay interest on savings amount after how much time?
Ans: Every quarter
Explanation:
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Reserve Bank has asked banks to pay interest on savings banks account on quarterly basis or shorter
duration, a move which will benefit crores of savings account holders. At present, the interest is credited in
savings bank account on half-yearly basis.
41) Which bank launched NFC-based contactless mobile payment solution Touch&Pay?
Ans: ICICI Bank
Explanation:
The mobile payment solution available in the Banks Pockets app, provides improved convenience of
Touch & Pay as customers are no longer required to carry a physical card or cash to pay in stores.
42) SBI partnered with which taxi aggregator to provide its drivers-partners instant vehicle finance?
Ans: Uber
Explanation:
Public sector lender SBI has tied up with taxi-aggregator Uber to provide instant vehicle finance to driverpartners on the latters platform.
The scheme would encourage skilled drivers to overcome liquidity crunch and excess documentation
requirements to become an entrepreneur.
43) Which bank started Indias first G-Sec facility via ATMs?
Ans: IDBI
Explanation:
State-owned IDBI Bank has introduced a first of its kind investment facility that allows a retail customer to
invest in government bonds using the bank's ATM.
44) Which bank became the first bank in the country which started to sell Indian Gold coins?
Ans: Indian Overseas Bank
Explanation:
Bank has tied up with MMTC for the sale of IGC of 24 carat purity. The IGC has the national emblem, the
Ashok Chakra, engraved on one side and the face of Mahatma Gandhi on the other.
Banking/Economy Awareness APRIL 2016

1) From which investment bank, India got $500 million for solar projects in 2016?
Ans: Asian Infrastructure Investment Bank
Explanation:
India has sought USD 500 million from the newly created, China-led Asian Infrastructure Investment Bank
(AIIB) for solar power projects.
2) Income Tax department has declared to show the break-up of net worth in case of earning how
much amount per year?
Ans: More than Rs 50 lakh
Explanation:
This applies to all individuals and HUFs earning more than Rs 50 lakh a year. They will have to declare all
their assets and liabilities, as on end of financial year 2015-16.
3) Which e-commerce company acquired mobile payment startup PhonePe?
Ans: Flipkart
4) Which countrys development bank will provide loan assistance to metro system for Nagpur?
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Ans: Germanys development bank KfW
Explanation:
German Governments Development Bank KfW pledged to provide a loan assistance of EUR 500 million
(about Rs.3,750 crore) for the modern and sustainable metro system for Nagpur city being executed by
Metro Rail Corporation Limited.
5) Which company bought Aircels 4G Spectrum?
Ans : Airtel
Explanation:
Bharti Airtel and its subsidiary Bharti Hexacom entered into a definitive agreement with Aircel and its
subsidiaries Dishnet Wireless and Aircel Cellular to acquire rights to use 20 megahertz (MHz) in 2300 band
4G TD spectrum in the eight circles, the company announced
6) MUDRA Bank invested how much amount in the MSME loan portfolio of Janalakshmi Financial
Services, a micro-finance company?
Ans: Rs 50 crore
Explanation:
This marks MUDRA's first ever participation in a capital market deal as the MSME (micro, small and
medium enterprises) loan facilitator looks to explore life beyond vanilla refinance products.
7) Videocon d2h tied up with which telecom company to make its users recharge using telecom
companys app?
Ans: Vodafone (using Vodafome m-pesa)
Explanation:
NASDAQ-listed Indian direct-to-home (DTH) player Videocon d2h has partnered with Vodafone, a move
that will its subscribers recharge their d2h service using Vodafone m-pesa. The 120,000+ Vodafone m-pesa
cash in points will also accept recharge for Videocon d2h.
8) Union Railway Ministry is to set up Rs ______ crore fund under Rashtriya Rail Sanrakha Kosh.
Ans: 1 lakh
Explanation:
The Union Railway Ministry has decided to create a 1 lakh crore rupees safety fund named Rashtriya Rail
Sanraksha Kosh to strengthen safety measures on the rail network to prevent accidents.
9) According to Nomura, a Japanese financial services firm, India may surpass which country in
attracting FDI?
Ans: China
Explanation:
India may surpass China this year in attracting foreign direct investment (FDI), as the gap in inflows
between the two has been narrowing with the reforms being implemented by India, according to Japanese
financial services firm Nomura.
10) BSE Ltd has signed MoU with which countrys exchange to list Sensex-based derivatives?
Ans: South Korea (Korea Exchange KRX)
Explanation:
The agreement is expected to further the development of derivatives markets in India and South Korea. It
will encourage the sharing of information, and foster new opportunities for the exchanges and their
respective issuers, a joint statement said.
11) Which bank gave loan for Lucknow Metro?
Ans: European Investment Bank
Explanation:
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The European Investment Bank will give 450 million euros ($512 million) in loan to India to finance the
construction of Lucknow's first 23 km-long metro rail line and purchase a fleet of new trains.
12) Which bank started Indias first Aadhaar-based ATM?
Ans: DCB Bank
Explanation:
The ATM will allow to transact using biometric details only. So its a cardless and pin less ATM. The user
can key-in the 12-digit Aadhaar number or swipe the card at an automated teller machine (ATM) to start a
transaction, but at the stage of confirming the identity, it requires biometric details rather than the PIN.
13) International Finance Corporation (IFC) lend $50 million to which bank to be used for lending to
women-owned businesses?
Ans: YES Bank
Explanation:
The bank will engage Goldman Sachs for identification and lending methodology to reach out to credit
worthy businesswomen, the lender said in a statement.
14) Which Indian bank tied up with Philip Capital to manage the NRI Portfolio Investment Scheme
(PIS)?
Ans: Federal Bank
Explanation:
PIS is a route designated by the Reserve Bank of India for Non-Resident Indians (NRIs) and Persons of
Indian Origin (PIOs) to invest in Indian Equity Markets for purchase of shares and convertible debentures
listed on registered stock exchanges in India.
15) SIDBI signed MoU with whom for fund-of-funds operations for the Venture Fund Industry?
Ans: LIC
Explanation:
In a bid to boost the startup ecosystem in the country, Small Industries Development Bank of India (SIDBI)
today signed a Memorandum of Understanding [MoU] with Life Insurance Corporation of India (LIC) for
supplementing Governments efforts under Fund-of-Fund operations for the Venture Fund industry.
16) Which bank launched Campus Wallet for students?
Ans: Federal Bank
Explanation:
Federal Bank ties up with Chillar Payment Solutions Pvt. Ltd., a technology driven start-up company to
promote the start-up's technology product - 'Campus Wallet'. This is a student Identity Card integrated with
banking technology. Aimed at streamlining and easing the administrative tasks in school/college campuses,
Campus Wallet is a futuristic ID card that facilitates students to make petty payments within their
school/college campus without opening a bank account
17) India claims a loan of $250 million from the BRICSs New Development Bank to which bank for a
renewable Energy project?
Ans: Canara Bank
Explanation:
The New Development Bank, the latest multilateral funding institution in the financial world, has sanctioned
a $250-million loan for India to fund its ambitious scheme on new and renewable energy. President of
BRICS NDB - Indian banker K.V. Kamath
18) RBL Bank which became the first private sector bank to launch a dedicated branch for startups in
India launched the branch in
Ans: Bengaluru
Explanation:
The name of this branch is 'India start-up Club'. It is a part of central govt.s Start up Stand Up mission.
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19) Which bank rolled out mobile-only bank in India?

Ans: DBS Bank
Explanation:
The digibank uses technologies, such as biometrics and artificial intelligence, to enable paperless,
signature-less and branchless bank. The bank will leverage biometrics-enabled ID and Aadhaar card to
ensure that that there is no paperwork.
20) In partnership with which bank, Airtel E Commerce received a final license to set up a Payments
Bank in the country?
Ans: Kotak Mahindra Bank
Explanation:
Airtel has become the first among the 11which were granted in-principle approvals in August 2015 to
receive the formal licence from the central bank.
The in-principle approval was valid for 18 months, during that time RBI had asked applicants to comply
with the licensing norms. Most of the players who received the payments licences are yet to apply for the
final licences.
21) NABARD has signed agreement with which country for a special programme on Soil protection
and Rehabilitation for Food Security?
Ans: Germany
Explanation:
The programme is part of the Germans govt. recently introduced initiative One World, No Hunger.
22) Which bank signed MoU with SAARC Development Fund for mutual cooperation?
Ans: SIDBI
Explanation:
The MoU envisages SDF and SIDBI to work together in co-funding of projects in Indian MSMEs on risk
sharing basis in identified sectors, development of suitable financial products for SME financing for
MSMEs of other Saarc states.
23) According to World Bank which country remained the Worlds largest remittance recipient in
2015?
Ans: India
Explanation:
About 69 billion US dollars in 2015 for various projects.
Other large remittance recipients in 2015 were China, with USD 64 billion, the Philippines (USD 28
billion), Mexico (USD 25 billion) and Nigeria (USD 21 billion).
24) Recently National Payments Corp. of India Ltd. launched a platform for the transfer of money
instantly as a text message. The platform is called
Ans: Unified Payments Interface
Explanation:
NPCI has launched unified payments interface (UPI) project, which will allow customers to transfer money
and make payments almost as easily as they send a text message.
Multiple bank accounts can be linked to a single mobile banking application and money can be both
received and requested through the same interface.
25) ICICI bank has launched a Proximity Payment Solution, Tap n Pay in collaboration with
Ans: Tech Mahindra
Explanation:
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ICICI Bank has launched Proximity Payment Solution, a simple Tap and Pay experience using NFC (Near
Field Communication) enabled tag. It can be used for merchant payments by merely tapping a NFC-enabled
mobile phone or a tag on the counter.
ICICI Bank customers can also transfer money to the Tap-n-Pay account through an SMS
26) Finance Minister Arun Jaitley had announced for the consolidation of public sector banks in the
budget speech this year. Which committee is been working as a guiding principle in this regard?
Ans: Narasimham Committee
Explanation:
Jaitley had announced the merger of PSBs in Budget speech
27) Industry body Internet and Mobile Association of India (IAMAI) has appointed whom as IAMAI
payments banks group chairman?
Ans: Vijay Shekhar Sharma
Explanation:
Vijay Shekhar Sharma is the founder of Paytm. Vodafone India business head (M-Pesa) Suresh Sethi, will
be the vice-chairman of the group.
Up to now, 6 of the 10 entities who have been granted approval for payments bank in the country have
joined IAMAI.
28) Which committee submitted its report on Insolvency and Bankruptcy Code 2015?
Ans: Bhupender Yadav
Explanation:
Officials from the ministries of finance and corporate affairs briefed a Parliamentary panel on the Insolvency
and Bankruptcy Code, 2015, which seeks to provide an easy exit option for insolvent and sick firms.
29) From which date, guidelines to change the method for calculating base rate based on the marginal
cost of funds came into effect?
Ans: April 1, 2016
Explanation:
All rupee loans sanctioned and credit limits renewed w.e.f. April 1, 2016 will be priced with reference to the
Marginal Cost of Funds based Lending Rate (MCLR) which will be the internal benchmark for such
purposes.
30) RBI has set which date as the deadline to exchange pre-2005 notes?
Ans: June 30, 2016
Explanation:
Earlier the date was set to December 31, 2015. In December, Reserve Bank extended the deadline for
exchanging pre-2005 currency notes of various denominations, including Rs 500 and Rs 1,000, by another
six months to June 30, 2016.
Banking/Economy Awareness MAY 2016

1) Paytm has tied with which IT services company for its to be set up payments bank?
Ans: Wipro
Explanation:
According to Paytm, Wipro will be implementing the core banking solution for Paytm and also programme
managing the integration of other key systems like the anti-money laundering solution and the regulatory
reporting solution
2) India has bagged which position in FDI Confidence Index 2016?

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Ans: 9th
Explanation:
India has secured ninth position in the 2016 Foreign Direct Investment Confidence Index, a global
management consulting firm said, underlining that the country is "finally" embarking on a growth path that
will see it "unlock its full potential".
3) Which ministry launched web-based dashboard called EXIM Analytics for export, import data of
the country?
Ans: Commerce Ministry
Explanation:
The user-friendly EXIM Analytics dashboard enables analysis of the country's trade information and
provides analysis of export-import data by time period, destinations or countries of origin, and ports
4) LIC reported how much worth of bad loans of its own?
Ans: Over Rs 12,000 crore
Explanation:
According to LICs 2014-15 annual report, it had gross NPAs amounting to 3.3 per cent (Rs 12,230 crore) of
its total debt (the term it uses). This had risen to 4.23 per cent as of December 2015.
5) Which online cab company announced its partnership with payment platform, Alipay to enable
Chinese travellers avail of rides?
Ans: Uber
Explanation:
Online cab aggregator Uber announced a global partnership with third-party payment platform, Alipay, to
enable Chinese travellers avail of rides through this solution in more than 400 cities, the companies said
6) Wilful defaulters owe around how much amount to the government banks in India?
Ans: Rs 66,000 crore (7686 wilful defaulters)
7) Snapdeal, Indias 2nd largest e-commerce company acquired which marketing services company?
Ans: TargetingMantra
Explanation:
Snapdeal.com, Indias second largest e-commerce company, has acquired TargetingMantra (Insightful Pvt.
Ltd), a Gurugram-based marketing and personalisation services company for an undisclosed amount.
8) Indian Railways created Non-Fare Revenue Directorate to explore what?
Ans: Advertising in train coaches
Explanation:
Railways has created a new directorate to carry out advertisements in rail coaches, along the track and near
stations in a big way to increase the revenue substantially from non-tariff sources.
Named as 'Non-Fare Revenue Directorate', the new wing would explore getting advertisements on coaches,
wagons, locomotives and at stations and commercial exploitation of vacant rail land among others.
9) Watches and Jewellery maker, Titan Co Ltd has entered into which field after taking stake in
Carat Lane?
Ans: E-commerce business
Explanation:
Titan Company ltd has acquired majority stake in Chennai-based online jewellery shopping store Carat Lane
Trading Pvt Ltd for an undisclosed amount, subject to due diligence. This would also be an exit for Tiger
Global, which has invested several rounds of funding into Carat Lane, from the company.
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10) Department of industrial Policy and Promotion (DIPP) announced how much FDI in Asset
Reconstruction Companies?
Ans: 100%
11) Which company acquired beauty services provider Salosa?
Ans: Quikr
Explanation:
Cross-category classifieds business Quikr has acquired Salosa, an on-demand in-home beauty services
provider, for an undisclosed amount. The move comes even as the company plans to invest Rs250 crore over
12 months in its home services vertical, QuikrServices, in line with its verticals-focused strategy.
12) Which motorcycle finance company signed agreement with India Post to enable its buyers get
information through brochures available at post offices?
Ans: Bajaj Auto Finance
Explanation:
Motorcycle finance company Bajaj Auto Finance has entered into an arrangement with post offices across
India to enable buyers get information through brochures available at post offices, as well as apply for twowheeler loans from the company. Subsequently, customers can also make loan repayments by depositing
money in post offices.
13) In 2015-16, EPFO reported disbursing how much total amount as monthly pensions?
Ans: Rs 8,200
Explanation:
The Employees Provident Fund Organisation (EPFO) disbursed Rs8,200 crore as monthly pension and
Rs47,630 crore as member benefits in 2015-16.
14) Which medical park of India tied up with Russian Institute to produce artificial hearts?
Ans: Frontier Mediville
Explanation:
Chennai-based healthcare major Frontier Mediville, led by eminent physician K. M. Cheriyan has entered
into a Memorandum of Understanding (MoU) with Russian space science and medical equipment company
Sputnik on Wednesday to develop cost-effective artificial hearts.
The tiny mechanised device weighing about 400 grams would be available to heart patients across the
country and outside very soon.
15) Which of the banks has signed agreements with the World Bank for $625 million to support grid
connected rooftop solar programme in the Country?
Ans: State Bank of India
Explanation:
State Bank of India has signed agreements with the World Bank for $625 million to support grid connected
rooftop solar programme in the Country.
16) NTPC tied up which company to foray into Fertilizer Sector?
Ans: Coal India Limited
Explanation:
The joint venture company will take up the revival of FCIL plants at Sindri in Bihar and Gorakhpur in Uttar
Pradesh by setting up an ammonia urea plant at each location, said an NTPC statement.
17) Punjab National Bank reported how much net loss in the fourth quarter of the last fiscal year?
Ans: Rs 5367 crore
Explanation:
Public sector lender Punjab National Bank on Wednesday reported a net loss of Rs 5,367.14 crore for the
fourth quarter ended March 31, on account of higher provisioning for bad loans.
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This is the biggest quarterly loss in Indian bank history.
18) Which financial institute invested $68 million in Apollo Health?
Ans: International Finance Corporation (IFC)
Explanation:
World Bank arm International Finance Corporation ( IFC ) is looking to invest $68 million or Rs 460 crore
in Apollo Health & Lifestyle Limited, which runs the hospital chains small format centers. The proposed
investment is part of the overall raise by the unit of $135 million or Rs 900 crore.
19) World Bank launched how much amount insurance fund to fight pandemics?
Ans: $500 million
Explanation:
An emergency insurance fund worth up to US$500m has been established by the World Bank Group to
assist developing countries in the event of a pandemic.
The Pandemic Emergency Financing Facility (PEF) was launched on 21 May 2016, with a commitment
from Japan to contribute US$50m towards the initiative. The worlds poorest countries will be able to
benefit from insurance against pandemics through the PEF, which will be funded by the World Bank
Groups development partners.
20) Which financial institute invested $100 million for Karnataka Urban Water Supply
Modernization?
Ans: World Bank
Explanation:
The project aims to provide access to a continuous piped water supply in various cities in Karnataka and
strengthen the service delivery arrangements at the city level, a finance ministry statement said.
21) Who released $28 million to help Greece handle its refugee crisis?
Ans: European Union
Explanation:
The funding will allow for the deployment of additional member state experts and interpreters, and set up
mobile offices to assist with processing asylum applications.
22) Which company bought India rights of global fashion chain Forever 21?
Ans: Aditya Birla Fashion
Explanation:
Aditya Birla Fashion has signed a memorandum of understanding (MoU) with the US based Forever 21 to
acquire its exclusive online and offline rights for Indian market and its existing store network in India from
the current franchisee Diana Retail
23) CCEA approved Yes banks foreign investment limit to how much percent?
Ans: 74%
Explanation:
The CCEA granted ex-post facto approval to the proposal of Yes Bank for increase in the foreign investment
limit to 74 per cent, from the existing foreign equity of 41.87 per cent
24) Which company acquired UK-based Target Group?
Ans: Tech Mahindra Ltd
Explanation:
Tech Mahindra Ltd will acquire UK-based Target Group in a bid to strengthen its BFSI portfolio. The
transaction is expected to close in the second quarter of FY17, subject to the receipt of regulatory approvals
25) Which bank tied up with online payment solutions Click&pay?
Ans: Yes bank
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Explanation:
Private sector lender Yes Bank, has partnered with Click&pay, T-Hub's portfolio company and a mobilebased payment solutions enterprise, to facilitate cashless, secure and flexible transactions for customers. As
a part of this alliance, Click&pay will issue Yes Bank sponsored mobile wallets and employ Yes Bank's
immediate payments service (IMPS) payments platform which will help Click&pay to process instant
proximity transactions with merchants and person to person.
26) World Bank granted $9.2 million to which country for Efficient and Sustainable City Bus Service
Project?
Ans: India
Explanation:
The government formalised an agreement with World Bank arm IBRD for Global Environmental Facility
(GEF) grant of $9.2 million for an efficient and sustainable bus service project in four cities, including
Bhopal and Chandigarh.
27) Which bank became the fourth bank recently to open IFSC banking unit at GIFT city?
Ans: Kotak Mahindra Bank
Explanation:
28) Which bank launched mVisa for providing its customers a payment solution for cashless
transactions at offline stores?
Ans: SBI
Explanation:
29) European Central Bank decided to end production and issuance of which currency notes?
Ans: 500 euro
Explanation:
30) Which is the first bank to have a tie up with BRICS New Development Bank?
Ans: ICICI Bank
Explanation:
31) Which bank got SEBI approval to provide custodial services?
Ans: YES Bank
Explanation:
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32) Which Indian bank tied up with National Australian bank for online inward remittances from
Australia?
Ans: South Indian Bank
Explanation:
33) Which bank donated Rs 1 crore relief for drought in Maharashtra?
Ans: Saraswat Bank
Explanation:
34) RBI has decided to issue which currency banknotes with inset letter R?
Ans: Rs 1000 notes
Explanation:
35) With association with which of the following, ICICI Bank has launched countrys first contactless
business credit card for SMEs?
Ans: Jet Airways
Explanation:
ICICI Bank launched the countrys first contactless business credit card in association with Jet Airways for
small and mid-sized enterprises (SMEs) and their employees.
36) Where is the foreign bank, DBS bank going to set up its biggest technology hub in India?
Ans: Hyderabad
Explanation:
Singaporean lender DBS Bank is creating its biggest technology hub outside of headquarters, in Hyderabad
where the company plans to have over 1,500 headcount.
37) Which foreign bank has decided to shuts down its retail banking branches in India?
Ans: RBS Bank
Explanation:
The Royal Bank of Scotland (RBS) will start shutting down its ten branches in India as it exits from the
country following an announcement in February 2015.
38) How much FDI is allowed by RBI in credit information firms?
Ans: 100%
Explanation:
The Royal Bank of Scotland (RBS) will start shutting down its ten branches in India as it exits from the
country following an announcement in February 2015.
39) Which foreign bank has decided to shut its half branches in India due to customers going digital?
Ans: HSBC Bank
Explanation:
Hong Kong & Shanghai Banking Corp. (HSBC) will shut 24 of its 50 branches in India and reduce its
presence to 14 cities in the country as it seeks to push more retail and wealth management business to the
online channel.
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40) Which of the following banks has recently started online trade transactions between Indian and
Nepal?
Ans: Nepal SBI
Explanation:
Nepal SBI is one of the largest overseas subsidiaries of SBI. It has started online trade transactions between
Indian and Nepal.
41) According to Moodys, SBI associate banks and Bharatiya Mahila Bank merger with SBI will cost
how much?
Ans: Rs 1,660 crore
Explanation:
SBI had proposed the merger of its associate banks and BMB with it. It will cost Rs 1,660 crore ($250
million) according Moodys. The merger will have limited impact on SBI credit metrics given that SBI
already fully owns SBH and SBP and has majority stakes in the other three associate banks.
42) Countrys largest lender, the State Bank of India has proposed to merge which of the following
public sector bank with itself?
Ans: Bharatiya Mahila Bank
Explanation:
SBI has decided to merge its 5 associate banks and BMB with it and asked for governments approval.
43) Which private sector bank has started a campaign on social media, Twitter to allow the applicants
to sell themselves to become an employee of the bank?
Ans: IDFC Bank
Explanation:
IDFC Bank is now making applying for a new job as simple as sending out a tweet. The country's newest
private sector lender has just rolled out the first-of-its-kind Twitter campaign, #IDFCTwitterResume, where
you can sell yourself in 140 characters and land a job in the bargain. Job openings will be posted on
Linkedin, Twitter & Facebook and the campaign will continue till May 24. Post this date, job seekers can
continue to post resumes using the same hash tag.
44) Countrys largest lender, the State Bank of India has proposed to merge which of the following
public sector bank with itself?
Ans: Bharatiya Mahila Bank
Explanation:
SBI has decided to merge its 5 associate banks and BMB with it and asked for governments approval.
45) Who has been appointed as the head of committee on the Fiscal Responsibility and Budget
Management (FRBM)?
Ans: N K Singh
Explanation:
Centre has constituted 5 member committee on FRBM headed by N K Singh.
46) Which bank has launched its branch called SmartUp for the startups as a part of Startup India,
Standup India Mission?
Ans: HDFC Bank
Explanation:
HDFC Bank, Indias second-largest private sector lender HDFC Bank has launched SmartUp, a dedicated
solution for startups to fulfil all their banking needs.
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47) IT & Communications Minister Ravi Shankar Prasad announced that India Post payments bank
will start functioning from
Ans: March 2017
Explanation:
It will serve as a wider platform to implement financial inclusion programmes.
About 50 companies, including some from abroad, are keen to partner with postal department for the
payments bank, like World Bank , Citi from America, Barclay's from England
48) Which of the following banks has told the passport authorities to stop defaulters from going
abroad?
Ans: Punjab National Bank
Explanation:
After the Vijay Malaya case PNB has started moving the passport authorities to ensure that wilful
defaulters do not leave the country without the banks approval.
49) Which bank has been selected by the Tea Board as the new settlement bank for pan-India eauction from sale number 25, which falls on the third week of next month?
Ans: Bank of India
Explanation:
IndusInd Bank, which has been the settlement bank for e-auction for the Rs 17,000 crore tea industry, is set
to lose the status and Rs 8,000 crore business in the process.
50) Saudi Arabia based Islamic Development Bank has announced to open its first branch in India at
Ans: Ahmedabad
Explanation:
It is a part of MoU between Indias Exim bank and IDB during PM Modis visit to UAE in April this year.
IDB is also keen at investing in small and medium enterprises of Gujarat.
51) EBI has instructed the banks to shift from magnetic stripe based ATM and debit cards to _______
chip and Pin based model of cards
Ans: EMV
Explanation:
This is done to ensure protection of cards from cloning, skimming and other forms of frauds which can
happen on a magnetic strip. EMV is Europay, MasterCard and Visa
52) Saudi Arabia based Islamic Development Bank has announced to open its first branch in India at
Ans: Ahmedabad
Explanation:
It is a part of MoU between Indias Exim bank and IDB during PM Modis visit to UAE in April this year.
IDB is also keen at investing in small and medium enterprises of Gujarat.
Banking/Economy Awareness JUNE 2016

1) Which company is going to acquire Vogue International?
Ans: Johnson & Johnson
Explanation:
Johnson & Johnson said it would acquire Vogue International for $3.3 billion, adding brands such as OGX
shampoos and FX hair styling products to its consumer portfolio that includes Neutrogena and Clean &
Clear.
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2) Which bank is going to assist India with $200 million to help upgrade 176 km of State Roads in
State of Jharkhand?
Ans: Asian Development Bank
Explanation:
The Asian Development Bank (ADB) and the Government of India signed an agreement for $200 million
new loan to upgrade 176 Kilometers of State roads in State of Jharkhand. The financing for the Jharkhand
State roads II Project will upgrade existing sections of four State roads to two lane standard and will also
support improvements in the design, safety and maintenance of the network.
3) Who is going to acquire L&T General Insurance for Rs 551 crore?
Ans: HDFC Ergo
Explanation:
HDFC Ergo, a joint venture between home loan major HDFC and German insurer Ergo International, has
agreed to buy L&T General Insurance for Rs 551 crore in the first buyout in the country's general insurance
industry.
4) Which bank is going to assist India with $120 million to improve irrigation and water management
infrastructure in Odisha?
Explanation:
The loan is the second tranche of a $157.5 million financing facility under the Orissa Integrated Irrigated
Agriculture and Water Management Investment Program.
5) Which company won the contract to develop Qatar stadium?
Ans: L&T (Larsen and Turbo)
Explanation:
Infra giant Larsen & Toubro (L&T) and Al Balagh Trading & Contracting's joint venture (JV) has been
appointed the main contractor to build the 40,000-seater Al Rayyan stadium in Qatar.
6) Which bank is going to assist India with $100 million to strengthen key irrigation system and
improve water management in Tamil Nadu?
Explanation:
Multilateral lending agency Asian Development Bank (ADB) on Wednesday said it has approved a $100
million (around Rs 660 crore) loan to strengthen a key irrigation system and improve water management in
the Vennar sub-basin of Cauvery Delta in Tamil Nadu.
7) World Bank cut global growth forecast to how much percent?
Ans: 2.4%
Explanation:
The World Bank has lowered its forecast for the global growth in 2016 to 2.4 per cent, saying that the world
economy is facing stronger headwinds.
8) To provide loans to Indo-Spanish joint ventures and local enterprises in India, State Bank of India
(SBI) has signed a memorandum of agreement with Spains which bank to enhance business
synergies?
Ans: CaixaBank
Explanation:
As per the agreement, they will expand banks' guarantee transaction businesses by jointly providing credit to
Indian-Spanish joint ventures and Indian local enterprises
The banks will collaborate in areas of mutual interest such as syndicated loan business, guarantee
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transactions, trade finance and export credit agency finance, infrastructure finance and networking services,
among others.
9) Which company acquired Welspuns renewable energy assets?

Ans: Tata Power
Explanation:
Tata Power Company has said its renewables arm has signed an agreement with Welspun Energy Pvt Ltd to
acquire its green energy portfolio for an estimated at Rs 10,000 crore ($1.4 billion).
10) Which company is to but LinkedIn for $26 billion?
Ans: Microsoft
Explanation:
Microsoft Corp. is acquiring the professional social network LinkedIn Corp. for $26.2 billion, one of the
largest technology-industry deals on record, as the maker of Windows software attempts to put itself at the
center of peoples business lives.
11) Blackberry has partnered with which IT services company for selling its software?
Ans: HCL
Explanation:
Canadian smartphone maker BlackBerry on Friday announced its partnership with HCL Infosystems to
expand the channel and distribution network for BlackBerry enterprise software products and services in
India.
12) Which 2 financial institutes are going to merge with HDFC Life?
Ans: Max Life and Max Financial services
Explanation:
HDFC Standard Life and Max Life and Max Financial Services are entered into merger agreement that will
create the largest private player in Indias insurance sector.
The proposed merger between the companies will create an entity with assets worth over Rs 1 lakh crore.
A combination of the entities would be overtaking ICICI Prudential Life Insurance Co. Ltd
13) Which travel portal acquired auto rickshaw aggregator mGaddi?
Ans: Yatra.com
Explanation:
Users can request mGaadi autos via smartphone apps (Android, iOS, Windows Phone) or the web
(mgaadi.com). Over 13,000 drivers are part of this network.
14) Union Govt. approved how much percent FDI in Aviation, Defence and e-commerce sectors?
Ans: 100 % in each of these.
15) For reporting account details under Foreign Account Tax Compliance Act (FATCA), govt.
extended date to
Ans: December 31, 2016
Explanation:
The revenue department has extended the date for reporting details of accounts under Foreign Account Tax
Compliance Act (FATCA) by six months to December 31, 2016, and excluded two types of entities from the
purview of the Act.
16) China sponsored Asian Infrastructure Investment Bank approved its first loans to which 4
countries?
Ans: Pakistan, Bangladesh, Indonesia and Tajikistan
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Explanation:
Pakistan, Bangladesh, Indonesia and Tajikistan will get the first set of loans totalling US 509 million from
China-sponsored Asian Infrastructure Investment Bank in which India is a founding member. The Beijingbased AIIB will disburse US 509 million to finance four projects in the four countries.
17) Which of the following has approved $500 million loan for bridge over Ganga River in Bihar?
Explanation:
Asian Development Bank accorded $500 million to build bridge over Indias longest river bridge which is in
Bihar having distance of 9.8 km road.
18) Starbucks Coffee Company has partnered with which Indian company for the inclusion of singleorigin coffee from India in its U.S. outlets?
Ans: Tata Group
Explanation:
In a bid to raise their partnership to a new level, Starbucks Coffee Company and the Tata Group have agreed
to take a host of initiatives, including the inclusion of a single-origin coffee from India in its U.S. outlets,
bringing the brand to Vistara airlines and taking Himalayan mineral water to Asia Pacific markets.
19) After when GAAR will be applied on income from transfer of investments?
Ans: After April 1, 2017
Explanation:
In a bid to provide clarity to investors, the Finance Ministry has said the General Anti-Avoidance Rules
(GAAR) will not apply to any income earned or received from transfer of investments before April 1, 2017.
20) Paytm tied up with which company for easy booking of latters two-wheeler models?
Ans: Suzuki Motocycle
Explanation:
India's largest mobile payment and commerce platform Paytm announced its strategic partnership with
Suzuki Motorcycle India Pvt. Ltd. to offer its customers the largest assortment of bike and scooter models
across all transactional platforms in India.
21) EPFO plans to cover all workers under provident fund, pension by the year
Ans: 2030
Explanation:
EPFO aims to cover all the workers in the country under provident fund (PF), pension and life insurance by
2030, the retirement fund body said in its vision document.
The vision document prepared by EPFO mentions objectives such as "universal social security coverage on
mandatory basis by way of provident fund, pension and life insurance for all workers of the country
22) Paytms Payment bank will use which software to provide its services?
Ans: Finacle
Explanation:
Paytm's payment bank will use Infosys' Finacle core banking software to provide its services, the first of
such deals that Infosys has closed since the banking licences were issued last year.
23) Which public sector bank launched an Instant account opening facility in Bengaluru?
Ans: Syndicate Bank
Explanation:
Syndicate Bank has launched an Instant account opening facility in Bengaluru. The main objective of the
redesigned process is to enhance customer experience by reducing the number of visits as well as the time
taken for the account opening process.
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24) SBI dedicated how much crore fund for startups?

Ans: Rs 200 crore
Explanation:
India's largest public sector lender SBI has created a dedicated IT innovations and startup fund and have set
aside Rs 200 crore for investment in promising startups. The fund would be extending upto Rs 3 crore for
any India registered company for promoting their business in India using information technology for
banking.
25) According to United Nations Conference on Trade and Development (UNCTAD) report, what is
the position of India in Asia among the largest recipients of Foreign Direct Investment (FDI)?
Ans: 4th
Explanation:
Switzerland based United Nations Conference on Trade and Development (UNCTAD) released the World
Investment Report stated that India is the fourth largest recipient of Foreign Direct Investment in Asia and
ranked tenth Position in World. UN Economist said that involvement of India in Foreign Direct Investment
is likely to reach USD 60 billion in 2016
26) Which bank launched Smart City Pre-paid Card to pay for variety of facilities by using single
pre-paid card?
Ans: ICICI Bank
Explanation:
ICICI Bank, in association with Ahmedabad Municipal Corporation (AMC), launched 'Smart City Pre-paid
Card', a first-of-its kind offering in the country. It enables the residents of the city to pay for an array of
facilities including taxes, bills, entry fee to common city areas and at retail outlets by using a single pre-paid
card.
27) Recently an Indian bank launched next generation features on its app iMobile which will enable
customers to instantly pay taxes and book railway tickets within the app. Name the bank.
Ans: ICICI Bank
Explanation:
New features will enable customers to instantly pay taxes and book railway tickets within the app. iMobile
users will also be able to purchase travel & motor insurance as well as buy mutual funds from 19 asset
management companies.
28) Name the newly appointed MD of State Bank of Mysore.
Ans: NK Chari
Explanation:
N.K.Chari, the new Managing Director of State Bank of Mysore, assumed office on May 30. Prior to his
new position, he was the Deputy Managing Director of State Bank of India.
29) Name the newly appointed MD of State Bank of Travancore.
Ans: CR Sasikumar
Explanation:
CR Sasikumar assumed the charge of Managing Director of State Bank of Travancore (SBT), one of the
associate banks of State Bank of India (SBI), on June 1.
30) Which of the international organization has lead the race to buy stake in government controlled
IDBI bank?
Ans: International Finance Corporation
Explanation:
World Bank's private sector lending arm International Finance Corporation (IFC) has emerged as the top
contender to buy around 15 per cent in government controlled IDBI Bank, even as talks have been held with
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at least three other players-GIC of Singapore, Asian Development Bank and Commonwealth Development
Corporation.
31) British bank Barclays has launched a new financial technology platform in which place in India?
Ans: Mumbai
Explanation:
British bank Barclays has launched a new financial technology platform in MUMBAI which will provide
these start-ups with a physical site to work and interact with stakeholders and their peers in other markets for
a fee. The lender hopes that providing such a platform will help it find innovative financial technology
quickly and at a cheaper cost.
32) Soon to be set up India Post Payments Bank will have how many branches in the country?
Ans: 650
Explanation:
The communications and IT minister Ravi Shankar Prasad has said that all 650 branches of the payment
bank set up by the department of posts will be established by September 2017.
33) Who is the head of committee which has been made to select the next RBI governor, as present
RBI Governor Mr. Raghuram Rajans term will end in closer to September 2016?
Ans: P K Sinha
Explanation:
The committee route would be in sync with PM Narendra Modi's remark that the appointment is an
"administrative decision" that will be taken closer to September when Rajan's term ends.
PK Sinha is the Cabinet Sectretary.
34) RBI has launched new restructuring tool 'S4A' to raise banks moral hazard risk. What is it?
Ans: Scheme for Sustainable Structuring of Stressed Assets
Explanation:
The communications and IT minister Ravi Shankar Prasad has said that all 650 branches of the payment
bank set up by the department of posts will be established by September 2017. Under a new 'Scheme for
Sustainable Structuring of Stressed Assets' (S4A), RBI allowed banks to take equity in debt laden firms
permitting them to split total loans of struggling companies into sustainable and unsustainable based on the
cash flows of the projects.
35) Which bank has launched Indias first certified green bond at London Stock Exchange (LSE)?
Ans: Axis Bank
Explanation:
Axis Bank raised $500 million at the London Stock Exchange after it launched India's first internationallylisted certified green bond to finance climate change solutions around the world.
36) Which Indian bank has signed an agreement with Thailand's Kasikorn Bank to enhance
cooperation in trade and investment?
Ans: Axis Bank
Explanation:
The MoU will serve to strengthen existing ties between the two banks and will help facilitate and enhance
cooperation in the areas of trade, investment and other businesses The agreement between the two banks
were signed as the Thailand Prime Minister Prayut Chan-o-cha is on a three-day visit to India.
37) Name the US based bank which has become the first bank to issue the first ever credit card to be
used in Cuba?
Ans: Stonegate Bank
Explanation:
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Pompano Beach-based Stonegate Bank (NASDAQ: SGBK) issued the first of its MasterCard credit cards for
use in Cuba. The South Florida bank was the first and so far the only bank to launch a debit card for use by
U.S. travelers in Cuba.
38) The State bank of India and Americas which financial company have jointly launched a
distribution alliance with travel prepaid cards distributor Centrum?
Ans: MasterCard
Explanation:
India's largest bank, State Bank of India (SBI) and MasterCard announced pilot launch of a distribution
alliance with travel prepaid cards distributor Centrum. This partnership will aid the distribution strength of
the Bank for it's multicurrency prepaid card and will largely target the corporate customers of the bank.
39) According to a recent news, the State Bank of India was being put in "Hall of Shame" list along
with some other banks. The reason for this was
Ans: for financing a US cluster bomb manufacturer
Explanation:
The State Bank of India has defended financing a US cluster bomb manufacturer, saying its investments
were legal, after being put in a "Hall of Shame" along with several other major banks by a Dutch campaign
group.
A report by PAX last week listed the government-owned bank as one of 158 lenders - including JP Morgan
Chase, Barclays, Bank of America and Credit Suisse - that violated an international ban for investing in
cluster bomb firms.
40) Bank of India has sold how much percent of its stake in Star Union Dai-Ichi Life insurance to DaiIchi?
Ans: 18%
Explanation:
Star Union Dai-Ichi Life insurance = Japan's largest life insurer Dai-Ichi + Bank of India + Union Bank. The
shareholding of Dai-Ichi in the Indian life insurance venture will now increase from 26% to 44% while Bank
of India's shareholding will decrease from 30% to 48%. Union Bank will continue to hold 26%.
41) Who has decided to block LPG subsidy and PAN of the tax defaulters?
Ans: Income Tax Department
Explanation:
Income Tax Department is set to block Permanent Account Number (PAN) of wilful defaulters and their
LPG subsidy and take measures to ensure that they are not sanctioned loans
42) According to a report by Reserve Bank of India, countrys gross bad loans are expected to grow
from 7.6% to ________ by March 2017.
Ans: 8.5%
Explanation:
Gross bad loans at banks may rise to 8.5 percent of total assets by March 2017 from 7.6 percent in March
2016 if the central bank orders them to conduct a second round of asset quality reviews. Meanwhile, under a
"severe stress" situation, total bad loans could rise to 9.3 percent in March 2017.
Banking/Economy Awareness JULY 2016

1) For PM Narendra Modis solar goals, the World Bank is going to lend over how much amount to
India?
Ans: Over $1 billion
Explanation:
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The World Bank today committed USD 1 billion (about Rs 6,750 crore) to support solar energy programme
in India, which is reducing dependence on conventional energy sources to reduce greenhouse gas emissions
2) Which company bought French based startup Moodstocks?
Ans: Google
Explanation:
Moodstocks caught the US technology giant's eye for its work in computer vision and machine learning, as
well for accomplishments in enabling smartphones or other mobile devices to recognize images and objects.
3) Kerala govt. has imposed how much percent fat tax on junk foods?
Ans: 14.5%
Explanation:
In a first-of-its-kind move in the country, Kerala has introduced a fat tax on the consumption of junk food
items like pizzas and burgers sold through branded restaurants.
4) Which bank has lent $290 million for Bihars JEEViKA?
Ans: World Bank
Explanation:
Centre, Bihar government and World Bank today signed a USD 290-million credit agreement to help
improve livelihood opportunities for poor rural households across 300 blocks and 32 districts of the eastern
state.
5) After the BREXIT, IMF cut Euro zone forecast to how much percent for the year 2017?
Ans: 1.4%
Explanation:
The International Monetary Fund (IMF) cut its global growth forecasts for the next two years, citing
uncertainty over Britain's looming exit from the European Union.
6) Which online fashion retailer has acquired Cubeit, a Bengaluru based startup?
Ans: Myntra
Explanation:
As part of the acquisition, the team at Cubeit has been inducted into Myntra to expand Myntras technology
team.
7) Which bank launched a cobranded credit card with Vistara, Indias growing full service carrier?
Ans: Axis Bank
Explanation:
The co-branded card will cater to the needs of corporate and leisure travelers.
8) Which card company changed its logo recently?
Ans: Mastercard
9) Under Make in India initiative, which Indian company signed pact with US based Bell Helicopter
to manufacture helicopters jointly?
Ans: Tata Advanced Systems Ltd
Explanation:
Tata Advanced Systems and US-based Bell Helicopter announced an agreement on Thursday for working
together to manufacture helicopters under Make in India initiative to meet civil and military requirements
10) What is the deadline for tax payment under black money scheme?
Ans: September 30, 2017
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Explanation:
The first instalment of 25% of the total tax, surcharge and penalty due will have to be paid by November 30,
2016, followed by a second tranche of an equivalent amount by March 31, 2017.
11) Special Investigation Team (SIT) has recommended banning how much amount cash
transactions?
Ans: Above Rs 3 lakh
Explanation:
The Special Investigation Team (SIT) on blackmoney has recommended ban on cash transactions of above
Rs 3 lakh and restricting cash holding with individuals to not more than Rs 15 lakh to curb illegal wealth in
the economy. The SIT headed by Justice M B Shah
12) Which stock exchange is going to set up an international exchange at GIFT city?
Ans: Bombay stock exchange
Explanation:
BSE is planning to trade currency, metals and energy at its upcoming international commodity exchange at
the International Finance Tec-City (Gift City) in Gandhinagar.
13) DRDO has signed MoU with which company to grow medicinal plants in high altitude?
Ans: Dabur
Explanation:
Ayurveda company Dabur India signed a Memorandum of Understanding (MoU) with Defence Research
and Development Organization's (DRDO) Defense Institute of High Altitude Research (DIHAR) to promote
sustainable cultivation of rare medicinal plants in the most difficult terrain in the world, Ladakh.
14) Which ministry has started e-marketplace for goods procurement?
Ans: Commerce ministry
Explanation:
The move is aimed at bringing in more transparency and streamlining the government procurement of goods
and services.
15) To support Digital India campaign, SBI has joined hands with which tech giant?
Ans: Oracle
Explanation:
In a first-of-its-kind joint corporate citizenship collaboration, State Bank of India (SBI) and Oracle India
today launched the 'D-Change' program. The initiative supports Prime Minister Narendra Modi's "Skill
India" and "Digital India" plan and furthers Oracle's commitment to expand within the region.
16) Which foreign motor company is going to set up R&D centre in Tamil Nadu?
Ans: Ford
Explanation:
Ford Motor Company is in the process of setting up a Research and Development (R&D) centre here, the
first such facility to be located outside of the US
17) Which ecommerce company has joined hands with BookMyShow to extend its service offerings?
Ans: Snapdeal
Explanation:
With this partnership, customers can now book tickets for movies on Snapdeal.
18) Which general insurance company has tied up with SVC Bank to enter into bancassurance
business with it?
Ans: HDFC ERGO
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Explanation:
HDFC ERGO General Insurance Company and Shamrao Vithal Co-operative (SVC) Bank announced their
bancassurance agency partnership to provide range of non-life insurance offerings to the customers of the
bank. The partnership combines HDFC ERGO's experience in introducing innovative non-life insurance
products with SVC Bank's customer base across various states.
19) Which company acquired Jabong for $70 million?
Ans: Myntra
Explanation:
Myntra, a Flipkart Group company, acquired Jabong from Global Fashion Group (GFG) for $70 million in
cash, creating one of the biggest online fashion destinations in the country as well as the largest e-commerce
marketplace in India.
20) LIC has signed up with which bank as its bancassurance partner?
Ans: Axis Bank
Explanation:
In the preliminary phase, the bank will distribute LICs life insurance products across its branches in West
Bengal, Bangalore and Haryana Panchkula. Additionally, the bank will also provide post sales services
such as premium collection and renewal of policies.
21) First Annual General Meeting of Asian Infrastructure Investment Bank held at
Ans: Beijing
Explanation:
Finance Minister Arun Jaitley Participated in the First Annual General Meeting of Asian Infrastructure
Investment Bank at Beijing to discuss about the investment in Infrastructure and accorded the approval to
establish the Regional Office of AIIB in New Delhi.
22) Which of the following approved $63 million for Tejaswini Project in Jharkhand?
Ans: World Bank
Explanation:
The World Bank Board has approved the 63 million US dollar for Tejaswini project that paves the way for
Socioeconomic Empowerment of Adolescent Girls and Young Women in Jharkhand.
23) Which of the following approved $201.50 million for Technical Education Quality Improvement
Project in India?
Ans: World Bank
Explanation:
United States based World Banks Board of Executive Directors has approved $201.50 million for Technical
Education Quality Improvement Project III in India
24) SBI is going to offer its banking services on Facebook, Twitter through?
Ans: SBI Mingle
Explanation:
Leveraging on the popularity of Facebook and Twitter, State Bank of India (SBI) today launched 'SBI
Mingle', allowing its customers access various banking services via these social platforms. Using SBI
Mingle, the bank's customers can do a host of banking services on their Facebook or Twitter accounts at
their own convenience.
25) Name the newly appointed deputy governor of RBI.
Ans: NS Vishwanathan
Explanation:
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The Union Government has appointed NS Vishwanathan as deputy governor of the Reserve Bank of India
(RBI). His appointment was approved by the Appointments Committee of the Cabinet (ACC) presided by
Prime Minister Narendra Modi in New Delhi.
26) Reliance Industries (RIL) has signed agreement with which of the following to set up payments
bank?
Ans: SBI
Explanation:
Telecom-to-energy conglomerate Reliance Industries (RIL) and Indias largest lender State Bank of India
(SBI) have signed Subscription and Shareholders Agreement to set up payments bank. As per the
agreement, RIL will be the promoter with a 70 per cent equity contribution in the payments bank and SBI as
joint venture will have 30 per cent equity contribution.
27) Which private banks has signed an agreement with Reliance Jio Money for One-Click payment
service?
Ans: Federal bank
Explanation:
Federal bank has signed an agreement with Reliance Jio Money for One-Click payment service. Reliance Jio
money is a wallet application that will be launched soon for mobile devices where Federal bank will enable
a direct payment option for its customers.
28) The Reserve Bank of India imposed how much penalty on Bank of Baroda in the alleged Rs 6000
crore forex related irregularities that came to light in October last year?
Ans: Rs 5 crore
Explanation:
The RBI carried out an inspection after Rs 6,100 crore import remittances were effected by Bank of
Baroda's Ashok Vihar branch in New Delhi.
29) Which of the following banks have become the first banks to join SWIFT's global payments
initiative?
Ans: Axis Bank and ICICI
Explanation:
Global payments leader SWIFT said that ICICI Bank and Axis Bank have become the first domestic lenders
to sign up for its global payments innovation initiative, which already has over 70 other leading banks
globally. The initiative aims to enhance cross-border payments by leveraging Swift's messaging platform
and global reach and in the first phase, the initiative will focus on business-to-business payments.
30) RBI has imposed how much fine on 13 banks for violation of FEMA and lapses in know your
client (KYC) rules?
Ans: Rs 27 crore
Explanation:
The Reserve Bank of India has come down hard on 13 banks and fined them for Rs 27 crore for violation of
FEMA and lapses in know your client (KYC) rules.
31) A payments company OKI installed 600 automatic teller machines with cash recycling abilities for
State Bank of India. OKI has its headquarters in
Ans: Japan
Explanation:
The company which is headquartered in Japan and operates out of Mumbai in India manufactures ATMs
which work with recyclable cash and has both cash acceptance mechanism along with cash dispensing in
their teller machines.
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Indian banks which mostly deploy standalone ATMs have very recently taken to the new technology of
machines with both depositing as well as dispensing abilities
32) RBI has imposed a fine of Rs 1 crore on which of the following banks for flouting bill discounting
norms?
Ans: UCO Bank
Explanation:
Reserve Bank of India has told state-run Uco Bank to pay Rs 1 crore penalty for flouting bill discounting
norms which allowed current account holders siphon out funds.
33) Recently, Yeldi Softcom received a licence for RBI to set up which of the following?
Ans: semi-closed wallet
Explanation:
Yeldi Softcom received its semi-closed wallet license on Wednesday from the Reserve Bank of India. This
opens up a new league of possibilities in terms of the products that could be launched by Yeldi Softcom to
bring in further avenues to carry out cashless transactions.
Semi-closed wallet is a payment instrument that is accepted by a predefined set of merchants that have been
contracted specifically by the issuer of the semi-closed wallet.
34) What is the initial minimum paid-up equity capital required for new on-tap license to set up
private bank as announced by RBI?
Ans: Rs 500 crore
Explanation:
The Reserve Bank of India released norms for on-tap permits for private sector banks and said the validity of
the in-principle approval issued by the RBI will be 18 months from the date of granting in-principle
approval.
1. The initial minimum paid-up voting equity capital for a bank shall be 500 crore rupees. Thereafter, the
bank shall have a minimum net worth of 500 crore rupees at all times.
2. Resident individuals and professionals having 10 years of experience in banking and finance at a senior
level are also eligible to promote universal banks.
35) Which of the following banks has teamed up with Apollo to set up asset reconstruction company
(ARC)?
Ans: ICICI Bank
Explanation:
With the banking sector buffeted by bad loans, the country's largest private lender ICICI Bank teamed up
with private equity major Apollo Global Management to launch an asset reconstruction company. ICICI and
Apollo have signed a memorandum of understanding to set up the ARC, which will acquire debt from
lenders and also take equity stakes in borrowers, a bank statement read.
36) Name the credit card launched by SBI on Master Card World platform which is enabled with
NFC?
Ans: Elite
Explanation:
This allows customers a contactless payment experience, adding more speed and suave to their wallets
37) In the first half of 2016, which organization topped the initial public offering (IPO) league table?
Ans: ICICI Securities
Explanation:
ICICI Securities is ICICI Banks investment banking arm.According to data provided by Bloomberg, ICICI
Securities has managed five IPOs to help rise around Rs 1,216 crore for companies getting listed.
38) Under a World Bank initiative, SIDBI has partnered with which bank to guarantee loans?
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Ans: YES bank
Explanation:
SIDBI(Small Industries Development Bank of India) entered into a partnership with YES Bank to guarantee
75% of loans of up to Rs 15 crore extended to energy efficiency projects under the WORLD BANK
initiative.
39) To promote startups, SBI signed MoU with
Ans: IIT Bombay
Explanation:
SBI has signed a memorandum of understanding (MoU) with the Indian Institute of Technology Society for
Innovation and Entrepreneurship (SINE), (IIT) Bombays technology business incubator, to promote
innovation by startups in the financial sector.
40) Who has introduced Paperless SIP for mutual fund investors?
Ans: Bombay Stock Exchange
Explanation:
Leading stock exchange BSE is introducing 'Paperless SIP' (systematic investment plans) that would allow
mutual fund investors to make transactions through various modes of payments.
41) Which bank is going to issue Synthetic INR notes to overseas investors?
Ans: HDFC
Explanation:
HDFC is planning to raise about
Notes to overseas investors. It is the first Indian public issuer of Synthetic INR Notes.
3,000 cror
42) Union Government has signed $100 million loan for Climate Adaption in Vennar Subbasin of
Cauvery Delta project in Tamil Nadu with which international bank?
Explanation:
The financing will be used to strengthen embankments of six major irrigation water channels in the Vennar
system and rehabilitate 13 irrigation pumping schemes
43) RBI asked banks to exchange up to 20 soiled notes for free. The maximum value of these notes can
go up to
Ans: Rs 5000
Explanation:
In an effort to improve customer service, the RBI on Thursday asked banks to exchange up to 20 pieces of
soiled currency notes with a maximum value of
5,000 over the counter free
44) RBI has set up a panel to study the issues relating to Fin Tech and Digital Banking. Name the head
of panel.
Ans: Sudarshan Sen
Explanation:
The Working Group has been set up in view of the growing significance of Fintech innovations, and their
interactions with the financial sector as well as financial sector entities. The Group will review and
appropriately reorient the regulatory framework, and respond to the dynamics of the rapidly evolving
Fintech scenario.
45) Which bank has become the first Indian company to issue masala bonds?
Ans: HDFC
Explanation:
The bond will help HDFC, Indias biggest mortgage lender (home finance company) to diversify its
borrowing profile and access global investors.
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46) IndiaFirst Life Insurance partnered with which bank for distribution of its products?
Ans: Nainital Bank
Explanation:
This tie-up will help us provide life Insurance solutions to the customers of the bank and enhance our
distribution footprint in northern India
47) To clean up its balance sheet, SBI signed agreement with which Asset Management company to
form a joint venture?
Ans: Brookfield Asset Management Inc
Explanation:
State Bank of India (SBI) and Brookfield Asset Management Inc. propose to launch a joint venture (JV)
fund to which the Canadian partner has agreed to commit Rs.7,000 crore to purchase distressed assets.
48) Which bank launched Green PIN facility for credit card users?
Ans: Corporation Bank
Explanation:
Corporation Bank has launched a new facility called Green PIN. A press release by the bank said that this
is an online module for generation of Personal Identification Number (PIN) for credit card holders. The
facility enables credit card users to generate PIN online.
49) Which bank organized Coin Exchange Mela during the Ratha Yatra festival in Puri?
Ans: ICICI Bank
Explanation:
ICICI Bank Ltd has organised a coin exchange mela during the Rath Yatra festival at the RBI financial
literacy camp in Bholanath Vidyapith. The mela took place under the guidance of the Reserve Bank of India.
50) For which bank customers TATA AIG launched travel insurance products?
Ans: Axis Bank
Explanation:
Tata AIG General Insurance has launched an integrated travel product, for all Axis Bank customers through
the banks one stop solution called Happy Holidays Package. The package allows Axis Bank customers,
who are travelling abroad to buy Tata AIG travel insurance policy instantly and in a seamless manner from
the banks mobile application.
51) SBI has tied up which oil company to implement its financial inclusion programme for farmers
through Oil Companys KisanSevaKendras?
Ans: Indian Oil Corporation
Explanation:
Under the agreement, SBI will provide access to banking services for the farmers utilising the IOC's kiosks
and also supplement their incomes by earning revenue on banking transactions.
52) SEBI gave nod to which bank to start AMC (Asset Management Company) business?
Ans: YES Bank
Explanation:
YES Bank will become the 44th mutual fund company in the country, provided the bank chooses to launch
its own MF business rather than acquiring the MF assets of any other existing fund house.
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