1. The stocks of which of the following banks are not considered for calculation of “Bank NIFTY”?
[A] Kotak Mahindra Bank
[B] Punjab National Bank
[C] Yes Bank
[D] Bank of India
Show Answer
Correct Answer: D [ Bank of India ]
Notes:
The Bank Index commonly known as “NIFTY BANK” or “Bank NIFTY” was launched by India Index Service and Product Limited (IISL) in the year 2000. The index has 12 most liquid and large capitalized stocks from the banking sector which trade on the National Stock Exchange (NSE). It provides investors and market intermediaries a benchmark that captures the capital market performance of Indian Banking sector. At present (July, 2024) , these banks include AU Small Finance Bank, Axis Bank, Bandhan Bank, Federal Bank, HDFC Bank, ICICI Bank, IDFC First Bank, Indusind Bank, Kotak Mahindra Bank, PNB, RBL Bank and SBI.
2. Which of the following currencies is not included in the Special Drawing Rights (SDR) Currency Basket?
[A] Indian Rupee
[B] British Pound
[C] Japanese Yen
[D] Chinese Renminbi
Show Answer
Correct Answer: A [Indian Rupee]
Notes:
The SDR basket now consists of the following five currencies: U.S. dollar 41.73%, Euro 30.93%, Renminbi (Chinese Yuan) 10.92%, Japanese Yen (8.33%), British Pound (8.09%).
3. Hindustan Shipyard Limited is located at?
[A] Kochi
[B] Mumbai
[C] Vishakaptnam
[D] Chennai
Show Answer
Correct Answer: C [Vishakaptnam]
Notes:
Hindustan Shipyard Limited is the country’s premier shipbuilding organization. It is located on the East Coast of the Indian peninsula, at Visakhapatnam, Andhra Pradesh. In 2010, the company was transferred from the Ministry of Shipping to the Ministry of Defence.
4. Which among the following is an essential feature of a commercial bank?
[A] providing Locker facilities
[B] dealing with credit
[C] providing business information and data
[D] Sale of securities
Show Answer
Correct Answer: B [dealing with credit]
Notes:
Section 5 of Banking Regulation Act 1949 defines Banking as the act of accepting deposits for the purpose of lending. Commercial banks deal with money, accepts deposits and advance short-term loans / credits.
5. In which year, the practice of presenting the railway budget separate from the general budget (or vice versa in true sense) started in India?
[A] 1920
[B] 1924
[C] 1925
[D] 1930
Show Answer
Correct Answer: B [1924]
Notes:
In the year 1924, the practice of presenting the railway budget separately from the general budget (or vice versa in true sense) started in India.
6. Euribor is a term associated with which of the following?
[A] An International Financial Company
[B] An association of European Financial Service providers
[C] A reference rate for Euro Money Market
[D] A credit rating agency of Europe
Show Answer
Correct Answer: C [A reference rate for Euro Money Market]
Notes:
Euribor (Euro Interbank Offered Rate )is similar to LIBOR (London Interbank Offer rate)
7. Approval of which among the following is needed to draw funds from Consolidated Fund of India?
[A] President
[B] Parliament
[C] Council of Ministers
[D] All the above
Show Answer
Correct Answer: B [Parliament]
Notes:
The Consolidated Fund of India was created under Article 266 of the Indian Constitution. The government meets all its expenditure from this fund and it needs parliamentary approval to withdraw money from this fund.
8. Which among the following coal producer of India is outside the Coal India Ltd?
[A] Southern Eastern Coalfields (Bilaspur)
[B] Bharat Coking Coal (Dhanbad)
[C] Mahanandi Coalfields (Sambalpur)
[D] Singerani Collieries Company (Telangana)
Show Answer
Correct Answer: D [Singerani Collieries Company (Telangana)]
Notes:
Singareni Collieries Company Limited (SCCL) is jointly owned by the Government of Telangana and Government of India on a 51:49 equity basis.
9. In India, which among the following decides the savings bank rate?
[A] Central Government
[B] Banks themselves
[C] Reserve Bank of India
[D] Commercial Banks
Show Answer
Correct Answer: B [Banks themselves]
Notes:
The banks themselves fix the interest rates on saving accounts.
10. Which among the following correctly denotes the Primary Deficit?
[A] Revenue Expenditure – Revenue Receipts
[B] sum of the net increase in holdings of treasury bills of the RBI and its contributions to the market borrowing of the government.
[C] Budgetary Deficit + Govt. market borrowings and liabilities
[D] Fiscal Deficit – Interest Payments
Show Answer
Correct Answer: D [Fiscal Deficit – Interest Payments]
Notes:
The fiscal deficit may be decomposed into primary deficit and interest payment. The primary deficit is obtained by deducting interest payments from the fiscal deficit. Thus, primary deficit is equal to fiscal deficit less interest payments. It indicates the real position of the government finances as it excludes the interest burden of the loans taken in the past.
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