Current Affairs - Quiz -5

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  • 1/10 Questions

    What period has been fixed by the government for the Twelfth Five Year Plan in India?      

    • 1) 2010-15
    • 2) 2011-16
    • 3) 2012-17
    • 4) 2013-18
    • 5) 2014-19
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About This Quiz

Current Affairs - Quiz -5 assesses knowledge on various topics including global economic groups, financial inclusion strategies in India, planning periods, central bank operations, insurance regulations, and environmental protection concepts.

Current Affairs - Quiz -5 - Quiz

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  • 2. 

    The banker is under an obligation to take utmost care in keeping secrecy of the details of the customer. However, the obligation of secrecy is not valid when:      

    • 1) A banker is required to give evidence in a court.

    • 2) There is national emergency and disclosure is essential in the public interest.

    • 3) There are clear proofs of treason to the state and when consent is given by the customer to provide information for the preparation of balance sheet.

    • 4) All of the above

    • 5) None of the above

    Correct Answer
    A. 4) All of the above
    Explanation
    The correct answer is 4) All of the above. This means that all of the mentioned situations can override the obligation of secrecy for a banker. In the first situation, if a banker is required to give evidence in a court, they may have to disclose the customer's information. In the second situation, during a national emergency, if disclosure is necessary in the public interest, the banker may have to reveal customer details. In the third situation, if there are clear proofs of treason to the state and the customer gives consent, the banker can provide information for the preparation of a balance sheet.

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  • 3. 

    Which of the following is decided by the market situations and not by the Reserve Bank of India (RBI)?      

    • 1) Bank Rate

    • 2) CAR

    • 3) SLR

    • 4) Repo Rate

    • 5) Inflation

    Correct Answer
    A. 5) Inflation
    Explanation
    Inflation is decided by the market situations and not by the Reserve Bank of India (RBI). Inflation is the rate at which the general level of prices for goods and services is rising and, subsequently, purchasing power is falling. It is influenced by factors such as demand and supply dynamics, consumer spending patterns, and market competition. The RBI can take measures to control inflation through its monetary policy tools, but it does not directly determine the inflation rate.

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  • 4. 

    For achieving which of the following objectives the Reserve Bank of India (RBI) employs open market operations are employed by?      

    • 1) To control the reserve base of banks

    • 2) To minimise fluctuation in money supply

    • 3) As an adjunct to the Bank Rate to make it function more effectively

    • 4) All of the above

    • 5) None of the above

    Correct Answer
    A. 4) All of the above
    Explanation
    Open market operations are employed by the Reserve Bank of India (RBI) to achieve the objectives of controlling the reserve base of banks, minimizing fluctuation in money supply, and as an adjunct to the Bank Rate to make it function more effectively. By conducting open market operations, the RBI can buy or sell government securities in the open market, which helps in controlling the reserve base of banks, managing money supply, and influencing the interest rates. Therefore, all of the above objectives are achieved through open market operations.

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  • 5. 

    Which of the following companies has been asked by the Reserve Bank of India (RBI) to close down its deposit taking operations?      

    • 1) Shriram Transport Finance Company Ltd

    • 2) Bajaj Finance Ltd

    • 3) Mahindra & Mahindra Financial Services Ltd

    • 4) Muthoot Finance Ltd

    • 5) Sahara India Financial Corporation

    Correct Answer
    A. 5) Sahara India Financial Corporation
    Explanation
    Sahara India Financial Corporation has been asked by the Reserve Bank of India (RBI) to close down its deposit taking operations.

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  • 6. 

    The concept of “Carbon Credit” is associated with which of the following fields?      

    • 1) Protection of environment

    • 2) Women empowerment

    • 3) Development of rural infrastructure

    • 4) Development of coal mines

    • 5) None of these

    Correct Answer
    A. 1) Protection of environment
    Explanation
    The concept of "Carbon Credit" is associated with the protection of the environment. Carbon credits are a market-based approach to reducing greenhouse gas emissions. They are tradable permits that allow the holder to emit a certain amount of carbon dioxide or other greenhouse gases. By creating a financial incentive for companies to reduce their emissions, carbon credits aim to mitigate climate change and promote sustainable development.

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  • 7. 

    Which of the following countries is not a member of the G-20?      

    • 1) South Korea

    • 2) Brazil

    • 3) China

    • 4) USA

    • 5) Iran

    Correct Answer
    A. 5) Iran
    Explanation
    Iran is not a member of the G-20 because the G-20 consists of the world's major economies, and Iran is not considered one of them. The G-20 includes countries that have a significant impact on the global economy, and Iran's economy is not as influential on a global scale compared to the other countries listed.

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  • 8. 

    Which of the following is the first Indian bank to open a branch outside India in London in 1946 and the first to open a branch in continental Europe in Paris in 1974?      

    • 1) Bank of Maharashtra

    • 2) Bank of Allahabad

    • 3) Bank of India

    • 4) Bank of Punjab

    • 5) Hindustan Bank

    Correct Answer
    A. 3) Bank of India
    Explanation
    Bank of India is the correct answer because it was the first Indian bank to open a branch outside India in London in 1946 and the first to open a branch in continental Europe in Paris in 1974.

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  • 9. 

    Which of the following has been introduced by the banks in India to increase financial inclusion?      

    • 1) Stimulus package

    • 2) Internet Banking

    • 3) Business correspondent

    • 4) Corporate Banking

    • 5) None of these

    Correct Answer
    A. 3) Business correspondent
    Explanation
    Banks in India have introduced business correspondents as a measure to increase financial inclusion. Business correspondents are individuals or entities that act as intermediaries between banks and customers in areas where banks do not have a physical presence. They provide basic banking services like account opening, cash deposit, withdrawal, and remittance services to the unbanked population in rural and remote areas. This initiative helps in bringing banking services closer to the people who do not have easy access to formal banking facilities, thus promoting financial inclusion.

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  • 10. 

    What is the minimum time of operation an insurance company is required to complete for becoming eligible to issue an initial public offer (IPO)?      

    • 1) 3 years

    • 2) 5 years

    • 3) 7 years

    • 4) 10 years

    • 5) 12 years

    Correct Answer
    A. 4) 10 years
    Explanation
    The correct answer is 4) 10 years. The minimum time of operation an insurance company is required to complete before it becomes eligible to issue an initial public offer (IPO) is 10 years. This means that the insurance company must have been in operation for at least 10 years before it can offer its shares to the public through an IPO.

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Quiz Review Timeline (Updated): Mar 21, 2023 +

Our quizzes are rigorously reviewed, monitored and continuously updated by our expert board to maintain accuracy, relevance, and timeliness.

  • Current Version
  • Mar 21, 2023
    Quiz Edited by
    ProProfs Editorial Team
  • Mar 10, 2013
    Quiz Created by
    Bankexamsportal
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