General Awareness Quiz

1. Which Agriculture University conferred M S Swaminathan with honorary degree ?
(1) Faisalabad University
(2) Hravard University  
(3) Jawahar lal Nehru University
(4) Oxford University 
(5) Massachusetts University

2. Who is presented with 22nd Rajiv Gandhi National Sadbhavana Award ?
(1) T V Gopalakrishnan
(2) Muzaffar Ali 
(3) K Radhakrishnan
(4) Govind Kumar 
(5) Chandi Bhat

3. Which of the following term is not associated with Economy?
(1) GDP
(2) Hindu Growth Rate
(3) PPP
(4) LED
(5) None of these

4. In the context of banking system, what does productivity means?
(1) Production of Service
(2) Business per employee
(3) Quality of customer service
(4) Both 1 &2
(5) None of these

5. Expand the term MIDF.
1) Marketing Industry Development Fund
2) Manufacturing Industry Development Fund
3) Manure Industry Development Fund
4) Mutual Fund Industry Development Fund
5) None of these

6. The govt is all set to amend the RTI Act to thwart an order of the CIC. This amendment is aimed at
1) keeping non-govt organisations (NGOs) out of the purview of the CIC.
2) keeping political parties out of the purview of the CIC.
3) keeping BCCI out of the purview of the CIC.
4) keeping private banks out of the purview of the CIC.
5) None of these

7. The term ‘Death Cross’ is associated with which of the following?
1) Stock Exchange
2) Defence
3) Christianity 
4) Astronomy
5) None of these

8. Which of the following is known as cross-selling by Banks?
(A) Sale of a debit card to a credit card holder
(B) Sale of Insurance policy to a depositor
(C) Issuance of cash against cheque presented by a third party

(1) only (A)
(2) only (B)
(3) only (C)
(4) both (A) and (C)
(5) All (A), (B) and (C)

9. Which of the following states became the first state in the country to launch RBI's e-payment system for commercial tax payment?
(1) Andhra Pradesh
(2) Kerela
(3) Gujarat
(4) Maharashtra
(5) Karnataka

10. When a bank returns a cheque unpaid, it is called
(1) payment of the cheque
(2) drawing of the cheque
(3) cancelling of the cheque
(4) dishonor of the cheque
(5) taking of the cheque

11. Mortgage is a
(1) security on movable property for a loan given by a bank
(2) security on immovable property for a loan given by a bank
(3) concession on immovable property for a loan given by a bank
(4) facility on immovable property for a loan given by a bank
(5) security on immovable property for a deposit received by a bank.

12. Which of the following types of accounts are known as 'Demat Accounts'?
(1) Accounts which are Zero Balance Accounts.
(2) Accounts which are open to facilitate repayment of a loan from the bank. No other business can be conducted from there.
(3) Accounts in which shares of various companies are traded in electronic form.
(4) Accounts which are operated through internet banking facility.
(5) None of these

13. Who is the chairman of the committee constituted by RBI to study issues and concerns in the Micro Finance Institutions (MFI) sector?
(1) Y. H. Malegan
(2) Dr. K.C. Chakrabarty
(3) C Rangrajan
(4) M. Damodaran
(5) Usha Tharat

14. A centralised database with online connectivity to branches, internet as well as ATM network, which has been adopted by almost all major banks of our country is known as:
(1) investment banking
(2) core banking
(3) mobile banking
(4) national banking
(5) specialized banking

ANSWERS
1. 1
2. 2
3. 4
4. 2
5. 2
6. 2
7. 1
8. 2
9. 5
10. 4
11. 2
12. 3
13. 1
14. 2

Daily GK Update - 27th April 2015

1. Government to amend Child Labour Prohibition Act

i. The government plans to push through an amendment to the Child Labour Prohibition Act in the current session of Parliament, which will allow children below the age of 14 to work in select family enterprises if it doesn't hamper their education. 

ii. The bill will retain the proposal of a complete ban on child labour in any organisation, big or small.

iii. Children between 1
4 and 18 years will not be allowed to work in hazardous industries. According to the labour ministry official, this provision is in conformity with the ILO convention

iv. India has seen a sharp drop in the number of child labourers in the last decade, down to 4.3 million from 12.6 million.

2. Capgemini acquires iGATE for $4 billion

i. Capgemini and iGATE have entered into a definitive merger agreement under which Capgemini will acquire iGATE for a cash consideration of $48 per share.

ii. the transaction will amount to $4 billion and is expected to be immediately accretive to Capgemini’s normalized Earnings Per Share (EPS)1.

iii. iGATE is US-listed IT services company headquartered in New Jersey.

iv. This transaction would lead to a group with an estimated combined revenue of €12.5 billion in 2015, an operating margin above 10 per cent and around 190,000 employees.

3. CJI refuses participation to choose NJAC 

i. Chief Justice of India H L Dattu has refused to participate in a three-member panel for selecting two eminent persons in the six-member National Judicial Appointments Commission (NJAC). 

ii. The five-judge constitution bench, headed by Justice J S Khehar, which is hearing the issue of constitutional validity of the new law on appointment of judges to higher judiciary, was told by Attorney General Mukul Rohatgi that Dattu has written to Prime Minister Narendra Modi that he would not participate in the meeting of the panel till the matter is decided by the apex court. 

iii. The three-member panel comprises Chief Justice of India, Prime Minister and the Leader of Opposition, who are authorised to select and appoint two eminent persons in the six-member NJAC for appointment of judges to higher judiciary. 

4. All MAT tax claims under DTAA to be settled in a month 

i. Central Board of Direct Taxes will settle all minimum alternate tax (MAT) matters of FIIs coming under the ambit of Double Taxation Avoidance Agreements within a month of filing of claims. 

ii. The move is aimed at quickly resolving the controversial tax issue facing foreign portfolio investors. 

iii. The Income Tax Department has sent notices in 68 cases to FIIs for payment of dues totalling Rs 602.83 crore towards Minimum Alternate Tax (MAT). 

iv. Central Board of Direct Taxes said several FIIs, which have received income from transactions in securities, claim such income as exempt from tax under the DTAAs signed between India and their countries of residence. 

5. Bharatiya Mahila Bank Wins The Asian Banker Achievement Award 2015

i. Bharatiya Mahila Bank (BMB) has won The Asian Banker Achievement Award 2015.

ii. The award was presented to the BMB in the Technology Implementation category of Best Outsourcing Project (New Bank).

iii. Usha Ananthasubramanian, Chairman and Managing Director of BMB received the award at a function held in Hongkong as a part of The Asian Banker Summit 2015.

iv. BMB is India’s first all-women public sector bank and was formally launched on November 19, 2013. It's objective is to focus on the banking needs of the women and promote economic empowerment.

6. DIPP notifies 49 per cent FDI in pension sector 

i. The government has raised the limit of foreign direct investment in pension sector to 49 per cent in line with the FDI cap in the insurance sector. 

ii. In pursuance of the enactment of Insurance Regulatory & Development Authority Act, iv. 2013, government has decided to permit FDI in the pension sector. 

iii. The FDI cap in the sector has been hiked to 49 per cent and that includes foreign investment in the forms of FPI, FII, QFI, FVCI, NRI and DR. 

iv. All investments in the pension sector, however, will have to abide by the pension sector regulator PFRDA.

7. BCCI to nominate Rohit Sharma for Arjuna award

i. The Board of Control for Cricket in India (BCCI) has nominated Rohit Sharma for the Arjuna award for 2015. Rohit has had an excellent last year for India in international cricket.

ii. Since January 1, 2014, he has averaged 55.05 from 21 innings with 3 centuries and 5 fifties, with the epic 264 his highest score.

iii. The decision to nominate Rohit was taken in the BCCI working committee meeting in Kolkata.