Dear PaGaLGuY readers,

We are presenting you a Financial Awareness quiz which will be helpful in your preparation. In Competitive exams questions related to Economics & Finance are generally asked in General Awareness section. So do solve the quiz and try to give your answers in comment section, soon we will publish the correct answers.   

1. Recently, E -wallet ‘Pockets’ Digital Bank
service was launched by which among the following banks?

(1) Axis Bank

(2) State Bank of India

(3) ICICI Bank

(4) Bank of Baroda

(5) HDFC Bank

2. According to the Central Statistics organization
(CSO), India’s GDP pegged up at _____ in 2014-15.

(1) 4.5%

(2) 5.6%

(3) 6.4%

(4)7.4%

 (5)
5.5%

3. Recently, Base Year has changed from 2004-05
to _____.

(1) 2006 – 07

(2) 2008-09

(3) 2009-10

(4) 2010 – 11

(5) 2011-12

4. What is current Statutory Liquidity Ratio
(SLR) rate?

(1) 22%

(2) 22.5%

(3) 21%

(4) 21.5%

(5) 23%

5. Which among the following statements is/are
correct in context with the Payment Banks? Mark the correct answer from the given options.

(A) Payments banks can open small savings
accounts and accept deposits of up to Rs.1 lakh per individual customer and
provide remittance services.

(B) Payment banks will offer both deposits as
well as loan products.

(C) The minimum paid-up capital requirement
for payment banks is Rs. 100 crore.

(D) Payments banks will have to invest in
government securities with a maturity of up to two year.

(1) Only A & B

(2) Only B & C

(3) Only A & C

(4) Only B & D

(5) All are correct

6. Recently, Naresh Takkar appointed Chief
executive officer (CEO) of India rating agency ICRA. Headquarter of ICRA
located in ____.

(1) Mumbai

(2) Bengaluru

(3) New Delhi

(4) Gurgaon

(5) Chennai

7. Recently, Reserve Bank of India has constituted
a high level committee, to re-examine and recommend appropriate set of
businesses, size, conversion and licensing terms for the Urban Cooperative
Banking Sector. The High level committee will be headed by ______.

(1)  Urjit
Patel

(2) R Gandhi

(3) SS Mundra

(4) Anand Sinha

(5) H Devraj

8. According to the United Nations Conference on
Trade and Development (UNCTAD) latest report, which among the following
countries has figure as the world’s largest recipient of the Foreign Direct
Investment (FDI) in 2014?

(1) India

(2) US

(3) Hong Kong

(4) China

(5) Singapore

9. What is the rank of India in Ease of Doing
Business Index 2015?

(1) 164

(2) 142

(3) 134

(4) 121

(5) 156

10. Recently, World Bank projects how much per
cent economic growth rate in India for current financial
year?

(1) 6.6%

(2) 6.5%

(3) 6.4%

(4) 5.5%

(5) 5.6%

Answers:

Qs 1
(3)     Qs 2 (4)    Qs 3 (5)  
Qs 4 (4)    Qs 5 (3)

Qs 6
(4)     Qs 7 (2)   Qs 8 (4)   
Qs 9 (2)   Qs 10 (3)

1. ICICI bank
has launched E-wallet ‘Pockets’ service to allow any individual to instantly
make transactions on a mobile phone with or without a bank account.

2. According to CSO, India’s gross domestic
product has been pegged at 7.4% for current fiscal. The estimate is based on
new formula. Earlier GDP used to be calculated by calculating the gross value
added to the economy at factor cost . Now it is done at market price

GVA at market price = GVA at factor cost +
indirect taxes -subsidies.

3. Base year has been changed from 2004-05 to
2011-12. it is a routine change and is usually done every five years. It is
done to make sure that the current state of economy is properly reflected.

4. RBI reduced Statutory Liquidity Ratio (SLR)
by 50 basis points to 21.5% from 22% in its sixth bi-monthly policy review.

5. Payment banks will
be used only for transaction and deposits purposes. They cannot lend money
to the customer. Payments banks will have to invest in government securities
with a maturity of up to one year.

6. ICRA Limited is an Indian independent and
professional investment information and credit rating agency. Headquarter of
ICRA located in Gurgaon, India.

7. RBI has constituted a High Powered Committee
under the Chairmanship of Deputy Governor
R Gandhi to re-examine and recommend appropriate set of businesses, size,
conversion and licensing terms for the Urban Cooperative Banking Sector.

8. According to the United Nations Conference
on Trade and Development (UNCTAD) latest report, China toppled the US in 2014
as the world’s largest recipient of the FDI — a position that the US had been
holding almost consistently since the 1980’s — though with a modest increase
of 3 per cent. The top five FDI hosts in 2014 were China, Hong Kong, United
States, Singapore and Brazil.

9. India ranked 142nd in Ease of Doing Business
Index 2015, which is setback as compared with China 90th, Russia 62nd and
Brazil 120th. Ease of Doing Business Index is released by World Bank.

10. World Bank projects 6.4% economic growth rate in India for current financial
year.