IBPS RRB Officer Scale I Mains General Awareness Questions Day – 234

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1) Which among the following is a worldwide financial service messaging provider?

a) SWIFT

b) ACRA

c) IFSC

d) MICR

e) None of the above

2) Which of the following is TRUE regarding Commercial Paper (CP)?

a) CP was introduced in India in 1995.

b) Only banks are eligible to issue CP.

c) CP is unsecured money market instrument issued in the form of a promissory note.

d) CP can be issued for maturities between a minimum of 1 month and a maximum of up to one year.

e) CP can be issued in denominations of Rs. 10 lakh or multiples thereof.

3) Which of the following committees has been correctly matched?

a) YV Reddy Committee-Reforms In Small Savings

b) Wanchoo Committee-Indirect Taxes

c) Vyas Committee-Technology Issues In Banking Industry

d) Venketaiya Committee-Mutual Funds Scheme

e) Vaghul Committee-Consolidated Accounting By Banks

4) What is the current base year for the calculation of GDP in India?

a) 2013-14

b) 2012-13

c) 2011-12

d) 2017-18

e) 2018-19

5) Which of the following will be incorrect for Reverse Repo Rate?

a) The rate at which RBI borrows money from the commercial banks.

b) It helps to control the money supply in the country.

c) An increase in reverse repo rate will lead to decrease in the inflation.

d) It is a short term borrowing rate.

e) An increase in reverse repo rate will lead to increase in the money supply in the economy.

6) Which of the following is NOT one of the eight core sectors?

a) Electricity

b) Steel

c) Crude oil

d) Textiles

e) Cement

7) Which of the following organisation calculates the GDP of India?

a) CSO

b) NDDB

c) NITI Aayog

d) Ministry of Finance

e) NSSO

8) Where is the Rajiv Gandhi International Airport situated?

a) Hyderabad

b) New Delhi

c) Mumbai

d) Bengaluru

e) Ahmedabad

9) The headquarters of NAFED is located in which city?

a) Chennai

b) Mumbai

c) New Delhi

d) Jaipur

e) Cuttack

10) ‘Meenakshi Temple’ is located at which place?

a) Dwarka

b) Chennai

c) Madurai

d) Uttarkashi

e) Varanashi

Answers :

1) Answer: a)

The Society for Worldwide Interbank Financial Telecommunication (SWIFT) provides a network that enables financial institutions worldwide to send and receive information about financial transactions in a secure, standardized and reliable environment.

2) Answer: c)

Commercial Paper (CP) is an unsecured money market instrument issued in the form of a promissory note. It was introduced in India in 1990 with a view to enabling highly rated corporate borrowers to diversify their sources of short-term borrowings. Corporates, primary dealers (PDs) and the All-India Financial Institutions (FIs) are eligible to issue CP. CP can be issued for maturities between a minimum of 7 days and a maximum of up to one year from the date of issue. CP can be issued in denominations of Rs.5 lakh or multiples thereof.

3) Answer: a)

4) Answer: c)

The base year for the calculation of GDP (Gross Domestic Product) is 2011-12. This data is released by the Central Statistics Office (CSO), Ministry of Statistics and Programme Implementation. The government is planning to change the base year for calculation of GDP to 2017–2018 which is likely to come to effect by 2019-20.

GDP is the total value of good and services produced in the country on an annual basis.  The base year for the calculation of the Consumer Price Index (CPI) is 2012. Minister of Statistics and Programme Implementation-Rao Inderjit Singh, Minister of State (Independent Incharge)

5) Answer: e)

Reverse repo rate is the short term borrowing rate at which RBI borrows money from the commercial banks. An increase in reverse repo rate will lead to decrease in the inflation as commercial banks tend to deposit their money with RBI to garner higher rate of interest. This will ultimately decrease the money supply in the economy.

Monetary Policy Committee under the chairmanship of RBI Governor (Shaktikanta Das) decides the monetary policy. There are six members in the committee and it is bi-monthly. Reverse Repo rate- 5.50 per cent (June 2019) Repo rate (Rate at which commercial banks borrow money from RBI) -5.75 per cent (June 2019). Repo rate and reverse repo rate fall under the Liquidity Adjustment Facility (LAF) of RBI.

6) Answer: d)

The eight Core Industries comprise nearly 40.27% of the weight of items included in the Index of Industrial Production (IIP), these are Electricity, steel, refinery products, crude oil, coal, cement, natural gas and fertilizers. IIP data is compiled and published by Central Statistical Organisation (CSO) every month.

7) Answer: a)

GDP refers to the total value of the goods and services produced within the boundary of a country in a financial year. GDPis measured by the Central Statistics Office (CSO) which comes under the purview of the Ministry of Statistics and Programme Implementation.

8) Answer: a)

9) Answer: c)

National Agricultural Cooperative Marketing Federation of India Ltd (NAFED) is an apex organization of marketing cooperatives for agricultural produce in India, under Ministry of Agriculture, Government of India. It was founded on October 2, 1958 to promote the trade of agricultural produce and forest resources across the nation. NAFED is now one of the largest procurement as well as marketing agencies for agricultural products in India. It’s headquartered in New Delhi.

10) Answer: c)

Meenakshi Temple (MeenatchiAmmaalThirukovil) is a historic Hindu temple located on the southern bank of the Vaigai River in the temple city of Madurai, Tamil Nadu. It is dedicated to Meenatchi, a form of Parvati, and her consort, Chokkanathar, a form of Shiva.