Indira Goswami

1.Vishwakarma Rashtriya Puraskar & National Safety Awards presented for Performance Year 2009 :The Vishwakarma Rashtriya Puraskar and National Safety awards for the performance year 2009 presented by Union Labour & Employment Minister Mallikarjun Kharge

2.The World's First Test Tube Eld's Deer born at Khao Kheow Zoo in Thailand

:The first Eld’s deer was born via in vitro fertilization in Thailand. The researchers at the Smithsonian Conservation Biology Institute (SCBI) collected eggs, inseminated in vitro with thawed semen to produce embryos

3. British Sky Broadcasting Group PLC, James Murdoch re-elected as Chairman of the Group : British Sky Broadcasting Group PLC chairman James Murdoch was re-elected in the company’s annual general meeting

4. Delhi State Government launched Kishori Scheme for Adolescent Girls: Delhi state government on 28 November 2011 launched a Kishori Scheme under which sanitary napkins would be distributed to adolescent girls

5. Eminent Assamese Litterateur and Jnanpith Award Winner, Indira Goswami died in Guwahati: Eminent Assamese litterateur, Jnanpith award winner & India's first Principal Prince Claus Laureate  Indira Goswami died on 29 November 2011

6.Justice M. Karpaga Vinayagam was reappointed Chairperson of Appellate Tribunal: Justice M. Karpaga Vinayagam was reappointed chairperson of the Appellate Tribunal for Electricity, Petroleum and Natural Gas

7.The Union Government of India approved MCD (Municipal Corporation of Delhi) Trifurcation: The Union government of India approved the Delhi Municipal Corporation (Amendment) Bill 2011

8.Kuwait’s Prime Minister and Cabinet Resigned amid Accusations of Corruption: Kuwait’s Prime Minister Sheikh Nasser Mohammad al-Ahmad al-Sabah and the Cabinet resigned on 28 November 2011 amid accusations of corruption

9.Supreme Court: Awards passed by the Lok Adalat bound to be implemented through a Court Decree: The Supreme Court ruled on 28 November 2011 that awards passed by the Lok Adalat either in criminal or civil matters are bound to be implemented through a court decree


10. Roger Federer won Singles Final Tennis Match at Barclay’s ATP World Tour Finals: Swiss tennis star Roger Federer defeated Jo-Wilfried Tsonga of France in their singles final tennis match at the Barclay’s ATP World Tour Finals

NABARD signed MoU with All Cooperative Banks in Punjab to Launch Core Banking Solution

National Bank for Agriculture and Rural Development today on 8 April 2011 signed MoU with all cooperative banks in Punjab to launch core banking solution (CBS). Under the pan India project NABARD sought the willingness of State Cooperative Bank (SCB) at the state level as well as District Central Cooperative Banks (DCCBs) at the district level under the Short Term Cooperative Credit Structure (STCCS) to join the project by executing a Memorandum of Understanding (MoU) with NABARD.

The project is aimed at providing application software, maintenance of data centre, disaster recovery centre, related network connection and regular maintenance and support of hardware and software. The agreement reached under the project is likely to go a long way to bring the functioning of Cooperative Banks at par with Commercial Banks and Regional Rural Banks in Punjab.

Indian Bank launched e-banking Lounge & Inter-bank Mobile Payment Services

Indian Bank launched its 24 hour operating e-banking lounge on 11 April 2011 in Chennai. The e-banking lounge was inaugurated by C Rangarajan, Chairman, Prime Minister's Economic Advisory Council. The new service will provide the customers of Indian Bank with the facility of cash deposit, cash withdrawal, cheque deposit with acknowledgement, internet banking, touch screen banking for all account related transactions.

Dr. Rangarajan also launched two new tech products namely maestro enabled debit card for senior citizens and inter-bank mobile payment services. The senior citizen debit card will contain details like year of birth, blood group and photo of the senior citizen.

Indian Bank has always been keen on introducing innovative, easy to use new tech products for the benefit of all types of customers and the general public.

The bank also plans to introduce e-banking lounges in various metros.

State Bank of India raised Benchmark Prime Lending Rate Steeper than Rivals 75 Basis Points

Banks across the country raised their lending rates following RBI’s raising of repo or lending rate by 50 basis points to 7.25% on 3 May 2011. The country’s largest bank, State Bank of India, on 10 May 2011 raised benchmark prime lending rate steeper than rivals 75 basis points to 14%.

The move might erode the bank’s profitability, which is already under pressure due to rising interest rates in the last few months as it will pay more for funds.

The bank raised its benchmark prime lending rate 75 basis points to 14%, and the base rate below which it will not lend to anyone by the same amount to 9.25%. Deposit rates on shorter tenors were raised as much as 225 basis points. A basis point is 0.01 percentage point. A 14-day deposit at SBI will return 6.25%, against 4% earlier, while one-year returns remain at 8.25%. New rates are effective 12 May 2011 onwards.

The demand for homes, cars and consumer durables is expected to fall following the hike of rates by the bank.

The RBI’s objective of raising rates for the past one year to keep prices under check is expected to yield results with banks passing on the higher costs to customers.

Usha Ananthasubramanian appointed Executive Director of Public Sector Lender PNB

The Government of India on 19 July 2011 appointed Usha Ananthasubramanian, former general manager of Bank of Baroda (BoB) as executive director of public sector lender Punjab National Bank (PNB). She replaced M V Tanksale, who was elevated to the position of Chairman and Managing Director of the Central Bank of India.

Usha started her career with another public sector lender BoB in 1982 as a specialist officer in planning division. She worked in various capacities as zonal head (southern zone), life insurance joint venture formation and secretary of the board of directors, before rising to the post of general manager.

She underwent various training in her 29 year career such as Leadership Development Programme at MDI, Leadership & Corporate Excellence Management Programme at Kellogg School of Management, Northwestern University, Chicago and the Top Management Programme at Indian School of Business, Hyderabad.

K. S. Sreenivasan appointed non-official director on board of Oriental Bank of Commerce

The Ministry of Finance (Department of Financial Services) on 27 september 2011 appointed K. S. Sreenivasan as part-time, non-official director on the board of Oriental Bank of Commerce. Sreenivasan has been appointed for a period of three years.

He had earlier served on the board of Union Bank of India between 2006 and 2009 and also on the board of Madras School of Economics. Sreenivasan, a practising chartered accountant with nearly 26 years of experience, is also a life member of the Indian Council of Arbitration.

MoU signed between IIFCL, LIC & IDFC to provide Takeout Finance for Infrastructure Projects

A memorandum of understanding (MoU) was signed between IIFCL, LIC and IDFC on 17 September 2011 in the presence of Union Finance Minister Pranab Mukherjee to provide Takeout Finance for infrastructure projects.

The MoU between IIFCL and LIC and IDFC is to provide for takeout up to 50 per cent of the total project cost in the ratio of 20:20:10 by these institutions respectively. The mechanism is expected to help financing to the tune of Rs.30000 crore under the scheme. This will facilitate banks to take more exposure in new projects, which in turn will help in bridging the gap in infrastructure financing to a great extent.

Takeout Finance Scheme was launched on 12 October 2010 when an MoU between IIFCL and PNB, Allahabad Bank, Union Bank, Indian Bank and UCO Bank was signed. This scheme is aimed at removing the hurdles in infrastructure financing by addressing asset liability mismatch (ALM) and group exposure issues. In this scheme, IIFCL can take out debt up to 20 per cent of the total project cost after the COD of the project with certain limitations.

The Centre fixed the target for agricultural credit flow at Rs 475000 crore, of which Rs.112731 crore had already been extended. The States are to create awareness about the 4 per cent short-term crop loans being extended to farmers, who repay their loans on time.

73,000 habitations were set to be covered by banking services under Swabhimaan which is an ambitious plan for financial inclusion launched by the Central Government.

State leaders  in low credit deposit ratio states such as Madhya Pradesh, Chhattisgarh, Goa and Dadra & Nagar Haveli to utilise State Level Bankers' Committee to boost credit-deposit ratio. All state governements were expected to cooperate to popularise e-payment.

State Bank of India decided to Discontinue with Debated Teaser Home Loan Scheme

State Bank of India on 20 April 2011 decided to follow Reserve Bank of India’s norms on its much debated ‘teaser' home loan scheme. SBI decided to discontinue the scheme from 30 April 2011. 

India's largest bank, SBI will replace the teaser' home loan scheme with a new floating rate home loan product with effect from 1 May 2011.

SBI finally decided to do away with the product as it would have to make a two per cent provisioning for standard assets (against 0.4 per cent for other standard assets) entailing an outgo of Rs 587 crore on existing teaser loans in the March-end quarter. Had the SBI given in to the provisioning, it’s profitability for the reporting quarter would have been impacted to that extent.

Teaser loans are advances offered at a comparatively lower rate of interest for the first few years, after which rates are re-set at higher rates. SBI introduced the teaser home loan product two years ago.

Under the new floating rate structure, customers can get home loans at a spread above the base rate which currently stands at 8.5 per cent. Also, the SBI has waived penalty on pre-payment and introduced a graded processing fee, which will be charged only if the loan application is passed. 

Loans up to Rs 30 lakh will be available at 9.50 per cent (that is, one percentage point above the base rate);above Rs 30 lakh and up to Rs 75 lakh at 9.75 per cent (125 basis points above the base rate); and above Rs 75 lakh at 10.25 per cent (175 basis points above the base rate).

According to the current teaser loan structure, a home loan borrower pays nine per cent interest in the first year, 9.75 per cent in the second and third years and 10 per cent from the fourth year.

Fresh Capital to be infused in SBI to help it achieve Compliance with Capital Adequacy Ratio Norms

Union Finance Minister Pranab Mukherjee on 16 October 2011 voiced the Finance Ministry’s decision to to recapitalize State Bank of India (SBI).  Funds would be provided to the PSU lender to enable it to achieve compliance with capital adequacy ratio (CAR) norms. Fresh capital is to be infused in SBI. The government will inject Rs 3,000-4000 crore into SBI during the current fiscal 2011-12 to help it achieve an 8 per cent capital adequacy ratio (CAR).

Recapitalisation of banks is a continuing process and the government will continue to provide funds to PSU lenders through the Budget to ensure that they can meet solvency requirements.

According to estimates, SBI needs about Rs 20000 crore of fresh capital to maintain the pace of growth without sacrificing solvency margin norms.

Moody's had recently downgraded the credit rating of SBI, citing inadequate capital and poor asset quality as reasons. Following the downgrade, major private sector lenders like ICICI Bank, HDFC Bank and Axis Bank currently have a better standing than SBI in terms of their credit rating.

The government holds a 59 per cent stake in the country's largest bank, SBI.

RBI directed Banks to implement Fraud Risk Management Practices by 30 September 2012

The Reserve Bank of India (RBI) on 22 September 2011 directed banks to implement various safety measures related to credit card and debit card usage over a period of next two years in order to eliminate cases of fraud and ensure security of transactions.

The RBI emphasised on the need to migrate to Euro pay MasterCard Visa (EMV) chip and PIN based cards from the present magnetic strip cards as the magnetic strip card is vulnerable to skimming and cloning. The need for a complete migration to EMV chip and PIN based cards could be considered based on the progress of Aadhar (Unique Identification Card) in 18 months time frame.

The RBI directed banks to strengthen the existing payment infrastructure and future proofing system along with adoption of fraud risk management practices within a period of next 12-24 months. An imperative need was felt to secure card based transactions as well to protect the interests of the card holders.

In the circular issued in this repect the central bank directed banks to implement improved fraud risk management practices by 30 September 2012 and secure the technology set up by 30 September 2013.

Ratings Firm Moody's downgraded Indian Banking System's Rating outlook from Stable to Negative

Global ratings firm Moody's on 9 November 2011 downgraded the entire Indian banking system's rating outlook from stable to negative indicating a deterioration in asset quality in the months ahead. In September 2011, Standard & Poor's (S&P) downgraded the country's largest lender, the State Bank of India, by one notch.

Arguing its case for the outlook downgrade the Moody's mentioned that with asset quality was anticipated to deteriorate over the next 12-18 months, thereby causing an increase in provisioning needs for the banks in financial year 2012 and 2013.

The Moody's decision was announced at a time when the Eurozone financial system is in turmoil and a large number of European banks are in dire straits.

The government rejected it claiming that the country's lending institutions are much healthier than their global counterparts. Indian bankers termed the move unwarranted and premature at this point of time.

The market apprehended that the downgrade by the Moody's would render overseas borrowings costlier for Indian banks. The negative sentiment sparked a major sell-off in banking stocks, resulting in the banking index on the Bombay Stock Exchange tumbling by 2.62 per cent on 9 November.

Market Capitalization of all 24 Listed Public Sector Banks below that of 15 Listed Private Banks: The combined market capitalization of all 24 listed public sector banks,which control 73% of bank deposits,is currently below that of the 15 listed private banks.

On 15 November 2011, the combined market capitalization of the 24 public sector banks which include 19 nationalized banks, SBI and its three associates and IDBI was Rs 311877 crore. As against this,the market capitalization of 14 private banks was Rs 321613 crore. This is a reversal of the position at the beginning of 2011. As on 1 April 2011, the total mkt-cap of government-owned banks was Rs 439600 crore much higher than the Rs 374218 crore for private banks.

As on end-June 2011,PSU banks accounted for 74.6% of bank deposits while private sector banks had only 18%,with the rest of the funds lying with regional rural banks and foreign banks.In matters of credit, PSU banks account for 74.9% of bank loans in the country while private banks have only a 17.6% share.

Two bad quarters of 2011-12 for State Bank of India and reports of loan restructuring and NPA worries in public sector banks hit valuations hard.

HDFC Bank overtook SBI to become the most valuable bank in the country.Incidentally,SBI the largest lender in the country has contributed the most to the decline in value of public sector banks.

PSU banks can work around capital constraints in the short-term by consolidation or via a relaxation in norms that require the government to hold a minimum 51% stake.There also exists larger social burden on the public sector banks because of which they have had to restructure large loans. Compared to them the private banks have been selective in their lending and have had far fewer NPAs.

Vacant Positions :
Office Assistant – 80 posts
Officer (scale –1) – 13 posts; scale II – 14 posts & scale III – 1 post


Important Dates: 

Application registration through online –22.11.2011 to 21.12.2011

Written test : The test consisting of 4 papers for a total of 200 marks (negative mark of 0.25) must be completed within 150 mins.

For Officers – Feb 5, 2012

For Assistants– Jan 29, 2012

Eligibility criteria 
Age limit: 18 – 28yrs as on 31.03.2010
Bachelor`s degree in any discipline is the minimum required education (for officer scale I, preference shall be given for those with agri. related or law or management or economics degree), Should be proficient in hindi or the local language.


Application Fee : Rs.450 (General) & Rs.50(SC/ST) 


For more information check the Bank's website http://rsgbrewa.com/recruitment.htm

Number of Vacancies: 800 Officers (generalist/ specialist)

Manager (Scale II) – 434 posts – Rs.33258 /month
Senior Manager (Scale III) – 371 posts – Rs.43883 /month
Chief Manager (Scale IV) – 14 posts – Rs.52147 /month 

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Also Read: Related Post With Very Important General Awareness
1. IBPS CWE Clerical Exam: General Awareness (with special reference to Banking Industry): Practice Set 2
2. IBPS CWE Clerical Exam: General Awareness (with special reference to Banking Industry): Practice Set 1
3. Current Affair on Business & Economy for IBPS Clerical- 2011 ( Sep-Oct 2011)

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Important Dates: Online registrations from 22.11.2011 to 14.12.2011
Receipt of filled applications before December 21, 2011


Eligibility Criteria:

• While the minimum age is 21 yrs, the maximum age is 35 yrs (scale II), 37yrs (scale III) & 40 yrs (scale IV), as on Nov 22, 2011
• Graduation or PG in specific area of specialization, as given in the list
• Experience of minimum 2 yrs in a bank/ financial institution is required (the no.of years may increase for senior posts)

Application Fee: Rs.300 or Rs.50 (SC/ST) must be paid in cash using the given payment challan, at any branch of Vijaya bank before December 14 2011.


The detailed notice of Vijaya bank officers recruitment visit the bank website 
http://vijayabank.com/vijaya/vijaya/internet-en/menus/announcements/RecruNoticeMainPage.html

Number of Posts: 
Agricultural Assistant – 1000 posts (across all states)


Important Dates: Online registrations – 25.11.2011 to 15.12.2011
Written test: 22.01.2012


Eligibility Criteria:

• Age Limit: Between 21 yrs to 28 yrs
• Should be a graduate from any agriculture college or university in India as on 1.07.2011
• Ability to read/ write/ speak the regional language of the applied state
• Certificate in computer operations is necessary
• Can apply for vacancies in any 1 state

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Also Read: Related Post With Very Important General Awareness
1. IBPS CWE Clerical Exam: General Awareness (with special reference to Banking Industry): Practice Set 2
2. IBPS CWE Clerical Exam: General Awareness (with special reference to Banking Industry): Practice Set 1
3. Current Affair on Business & Economy for IBPS Clerical- 2011 ( Sep-Oct 2011)

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Application Fees:  Rs.50 for SC/ST & Rs.500 for others


The advertisement of this Syndicate bank recruitment can be downloaded from the bank website http://syndicatebank.in/scripts/Recruitment.aspx

Rajasthan Gramin Bank(RGB) is recruitmenting Officers & Office assistants.  


Number of Posts:
Office Assistant– 66 posts
Officer - Junior (Scale I) – 41 posts
Officer - Middle (Scale II) -  3 posts

Important Dates:  Online registration starts between 16.11.2011 to 15.12.2011


Written test: 200 marks within 150 mins.While there are negative marks for each wrong answer, the test marks would be converted to 70.
For Officers – 22.1.2012
For Assistants– 29.1.2012


Eligiblity: 

• Age limit to be within 18 – 28 yrs (+5yrs for SC/ST)
• Should hold a bachelor`s degree from a recognized university, as on Oct 1, 2011 (Agri. related degree preferred for officer vacancies)
• Must have good command in Hindi language
• Knowledge of computers operations will be an added plus

=========================================================================

Also Read: Related Post With Very Important General Awareness
1. IBPS CWE Clerical Exam: General Awareness (with special reference to Banking Industry): Practice Set 2
2. IBPS CWE Clerical Exam: General Awareness (with special reference to Banking Industry): Practice Set 1
3. Current Affair on Business & Economy for IBPS Clerical- 2011 ( Sep-Oct 2011)

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Application fees: Rs.500(others) or Rs.100(SC/ST) should be paid in any branch of Rajasthan gramin bank or Punjab national bank before December 15, 2011.

Candidates can download the details of  Rajasthan Gramin Bank recruitment  & apply online from the bank website http://www.rajasthangraminbank.org/recruitment.html

1. Which of the following bodies tightened the norms for foreign exchange risk cover in India mentioning that only companies with a networth of Rs 200 crore can use derivatives to hedge against risk of volatility in currency rates?

a. IMF b. Reserve Bank of India c. SEBI d. Union Ministry of Finance

Ans: b

2. Which body in India finally provided tax exemption on the 9.5 per cent interest income on PF deposits for 2010-11?

a. Reserve Bank of India b. Income Tax Department c. Employees’ Provident Fund Organisation d. Corporate Affairs Ministry

Ans: b

3. (1) The report on Customer Service in Banks by a committee chaired by M. Damodaran, former Chairman of the Securities and Exchange Board of India (SEBI) that was released on 3 July 2011 recommended an increased deposit insurance cover of Rs.5 lakh so as to encourage individuals to keep all their deposits in banks.

(2) The panel also suggested blocking of lost ATM cards through SMS and immediate restoration of funds in case of non-dispensation of cash at an ATM within 5 working days.

Which of the above is not true?

a. Only 1 b. Only 2 c. Both 1 & 2 d. None of the above

Ans: b

4. The Reserve Bank of India (RBI) in a bid to tame inflationary pressure hiked the short-term indicative policy rate (repo rate) by 50 basis points on 26 July 2011. The repo rate currently stands at what percentage?

a. 7% b. 7.5% c. 8% d. 8.5%

Ans: c

5. Which bank posted a 99 per cent drop in net profit at Rs 21 crore for the fourth quarter ended 31 March 2011 against Rs 1867 crore during the corresponding period in 2010?

a. Indian Overseas Bank b. State Bank of India c. Bank of India d. United Bank of India

Ans: b

6. Who did global payments processing company MasterCard appoint as the General Manager, South Asia and Country President, India?

a. T. V. Seshadri b. Vicky Bindra c. Tunde Lemo d. Ajay Banga

Ans: a

7. Government of India on 19 July 2011 appointed Usha Ananthasubramanian, former general manager of Bank of Baroda (BoB) as executive director of which public sector lender?

a. Central Bank of India b. Punjab National Bank c. United Bank of India

d. Gramin Bank

Ans: b

8. Name the public sector lender that selected Metlife as its partner for a proposed foray into the life insurance segment.

a. Syndicate Bank b. Punjab National Bank  c. Corporation Bank d. United Bank of India

Ans: b

9. Which bank signed a memorandum of understanding with Dewan Housing Finance Corporation (DHFL) under which DHFL will distribute home loans to Yes Bank's customers?

a. Canara Bank b. ABN Amro bank c. Yes Bank d. HSBC

Ans: c

10. Which life insurance company in India launched a new non-linked health insurance plan, Jeevan Arogya?

a. HDFC Standard Life Insurance Co. Ltd  b. Life Insurance Corporation of India 

c. IDBI Fortis Life Insurance Company Ltd.  d. SBI Life Insurance Co. Ltd

Ans: b

11. Which of the following public sector banks in November 2011 froze its lending to the power sector?

a. State Bank of India b. Allahabad Bank  c. Punjab National Bank

d. United Bank of India

Ans: b

12. Which Indian bank on 10 May 2011 raised benchmark prime lending rate 75 basis points to 14% following raising of interest rates by RBI by basis points on 3 May 2011?

a. State Bank of India b. Union Bank c. Punjab National Bank d. Bank of Baroda

Ans: a

13. The Reserve Bank of India on 26 April 2011 fined 19 banks, including the country's top private and foreign banks for violating its guidelines on derivatives. Which is the only public sector bank on the list of banks to be fined?

a. State bank of India b. Punjab National Bank c. Bank of India d. Indian Bank

Ans: a

14. The Reserve Bank of India on 25 August 2011 released its Annual Report for 2010-11. Which of the following was not discussed in the Annual Report the Central Board of the RBI?

a. assessment of the macroeconomic performance during 2010-11

b. prospects for 2011-12

c. working and operations of the Reserve Bank and its financial accounts

d. role of regulatory bodies in controlling the financial markets

Ans: d

15. Reserve Bank of India (RBI) panel headed by headed by Usha Thorat, Director, Centre for Advanced Financial Research and Learning (CAFRAL) on 29 August 2011 came up with suggestion on non-banking finance company (NBFC). Which of the following related to this statement is not true?

1. The panel suggested the central bank to insist on a minimum asset size of more than Rs.25 crore for registering any new non-banking finance company (NBFC)

2. Transfer of shareholding, direct or indirect, of 25 per cent and above, change in control, merger or acquisition of any registered NBFC will require prior approval of the Reserve Bank.

3. Tier-I capital for capital to risk weighted assets ratio (CRAR) purposes would be specified at 12 per cent to be achieved in three years for all registered deposit-taking and non-deposit-taking NBFCs.

4. NBFCs would be subject to regulations similar to banks while lending to stock brokers and merchant banks and similar to stock brokers, as specified by the Securities and Exchange Board of India (SEBI)

a. 1 & 4  b. 2 & 4  c. Only 4  d. Only 1

Ans: d

16. Which Indian PSU bank in tune with its plans to expand its retail division in the UK entered the mortgage market in the country for the first time?

a. Punjab National Bank b. Oriental Bank of Commerce c. State bank of India

d. Indian Overseas Bank

Ans: c

17. Which of the following banks set up two loan processing centres for the small and medium enterprise (SME) segment on a pilot basis in Bangalore & in New Delhi in September 2011?

a. Corp Bank  b. United Bank of India  c. Syndicate Bank  d. Bank of Baroda

Ans: c

18. The government suspended M Ramadoss for alleged violations in issuing insurance cover to an airline during his stint as head of another state-run insurer. To which insurance group did he belong to?

a. New India Assurance b. LIC  c. GIC  d. ICICI Insurance

Ans: a

19. Which of the following banks in early May 2011 entered into a tie-up with non-banking finance companies such as Future Capital, Bajaj Finance, and Reliance Capital to grow its retail portfolio?

a. Central Bank of India  b. State Bank of India  c. Bank of India  d. HDFC Bank

Ans: a

20. Which are the two Gujarat-based cooperative sector lenders on which Reserve bank of India imposed a financial penalty of Rs 1 lakh each for violation of various rules, including anti-money laundering guidelines?

1. Shree MahalaxmiMercantile Co-operative Bank

2. Rander People's Co-operative Bank

3. Abad District Co Op Bank

4. Ahd Mercantile Co-Op Bank Ltd

a. 1 & 2

b. 2 & 3

c. 1 & 4

d. 3 & 4

Ans: (a)

1. Which of the following bodies tightened the norms for foreign exchange risk cover in India mentioning that only companies with a networth of Rs 200 crore can use derivatives to hedge against risk of volatility in currency rates?
a. IMF  b. Reserve Bank of India c. SEBI  d. Union Ministry of Finance
Ans: b


2. Which body in India finally provided tax exemption on the 9.5 per cent interest income on PF deposits for 2010-11?
a. Reserve Bank of India  b. Income Tax Department  c. Employees’ Provident Fund Organisation  d. Corporate Affairs Ministry
Ans: b


3. (1) The report on Customer Service in Banks by a committee chaired by M. Damodaran, former Chairman of the Securities and Exchange Board of India (SEBI) that was released on 3 July 2011 recommended an increased deposit insurance cover of Rs.5 lakh so as to encourage individuals to keep all their deposits in banks.
(2) The panel also suggested blocking of lost ATM cards through SMS and immediate restoration of funds in case of non-dispensation of cash at an ATM within 5 working days.
Which of the above is not true?
a. Only 1
b. Only 2
c. Both 1 & 2
d. None of the above
Ans: b


4. Which of the following countries topped the list of medals at the World Athletics Championships in Daegu, South Korea ?
(A) USA  (B) Kenya  (C) Jamaica (D) South Africa
Ans: (A)


5. India, on 24 August 2011 signed (Double Taxation Avoidance Agreement) with which one of the following countries ?  
(A) Georgia  (B) Sri Lanka  (C) Pakistan  (D) UK
Ans: (A) 


6. UNCTAD's Trade and Development Report 2011 launched in New Delhi on 6 September 2011projected an economic growth of what per cent for India in 2011 ?
(A) 8%  (B) 8.1%  (C) 9.2%  (D) 8.6%
Ans: (B)


7. Russian and US scientists launched an expedition to study emission of___ gas in the eastern Arctic.
(A) Methane  (B) Carbon-Di-Oxide  (C) Sulfur-Di-Oxide  (D) Ozone
Ans: (A)


8. Name the Maoists Vice-Chairman who was on 28 August 2011 elected Nepal's 35th prime minister marking the country’s attempt to form a stable government after extended political uncertainty.
(A) Baburam Bhattarai  (B) Sher Bahadur Deuba  (C) Surya Bahadur Thapa 
(D) Jhalanath Khanal
Ans: (A)


9. Indian rupee on 7 September 2011 settled at one-year low against the US currency. What was the value of the India value vis-à-vis the US currency ?
(A) 46.16/17 (B) 46  (C) 45.32/33  (D) 45
Ans: (A)


10. How many Indian companies were ranked among the top 200 Asia-Pacific corporations in Forbes Asia's 'Best Under a Billion' list for 2011 released on 31 August 2011 ?
(A) 65  (B) 35 (C) 23  (D) 14
Ans: (D)

11. Reserve Bank of India (RBI) panel headed by Usha Thorat, Director, Centre for Advanced Financial Research and Learning (CAFRAL) on 29 August 2011 came up with suggestion on non-banking finance company (NBFC). Which of the following related to this statement is not true ?

1. The panel suggested the central bank to insist on a minimum asset size of more than Rs.25 crore for registering any new non-banking finance company (NBFC)

2. Transfer of shareholding, direct or indirect, of 25 per cent and above, change in control, merger or acquisition of any registered NBFC will require prior approval of the Reserve Bank.

3. Tier-I capital for capital to risk weighted assets ratio (CRAR) purposes would be specified at 12 per cent to be achieved in three years for all registered deposit-taking and non-deposit-taking NBFCs.

4. NBFCs would be subject to regulations similar to banks while lending to stock brokers and merchant banks and similar to stock brokers, as specified by the Securities and Exchange Board of India (SEBI)

(A) 1 & 4  (B) 2 & 4  (C)  Only 4  (D) Only 1
Ans: (D)


12.  North Korea agreed to start international talks on denuclearization of the Korean peninsula. This was agreed during the visit of North Korean leader Kim Jong Ii to__.
(A) Russia  (B) China  (C) UK  (D) South Korea
Ans: (A) 


13. According to data released by the commerce and industry ministry on 20 October 2011 food inflation inflation stood at what percentage in the week ended 8 October 2011?
(A) 10.6%  (B) 10.54%  (C) 10.33%  (D) 10.91%
Ans: (A)


14. The Reserve Bank of India panel to review facilities for individuals under FEMA (Foreign Exchange Management Act) submitted report on 10 August 2011. With regard to the following which of the following is not true
A. In the report it mentioned that the concept of non-repatriation basis or non-repatriable funds was outdated.
B. Since non-residents were given the freedom to remit $1 million annually, it was compulsory to maintain procedures under FEMA.
C. The report suggested the procedural knots in the system need to be untied to enable the present forex liberalisation to be effective.
D. Issue of take-overs underwent changes in the past and now are taken care of under the ambit of SEBI regulations and using FEMA for this purpose is superfluous and an unnecessary.
(1) 2 & 4  (2) Only 2  (3) 1 & 4  (4) Only 4
Ans: (2)


15. Name the Irish poet and human rights activist who was named Ireland’s ninth president on 30 October 2011 after winning 57% of votes in the final count of the presidential election held on 27 October 2011.
(1) Michael D Higgins  (2) Mary McAleese  (3) Douglas Hyde  (4) Mary Robinson
Ans: (1)


16. Which of the following public sector banks in November 2011 froze its lending to the power sector?
(1) State Bank of India  (2) Allahabad Bank  (3) Punjab National Bank
(4) United Bank of India
Ans: (2)


17. Who became the first Indian tennis player ever to win the Canadian U-18 ITF Junior World Ranking Championship on 17 July 2011?
(1) Ambika Pandey  (2) D Harika  (3) Koneru Humpy  (4) Chekrovolu Swuro
Ans: (1)


18. Who did the Union government appoint on 23 July 2011 as the Solicitor-General, the second senior most law officer of India?
(1) Fali S Nariman  (2) Rohinton Nariman  (3) Gopal Subramanium
(4) Harish Salve
Ans: (2)


19. India registered a __ per cent increase in tiger population in 2010, according to a report, Status of tigers, co-predators and prey in India-2010, released on 28 July 2011.
(1) 20  (2) 30  (3) 15  (4) 12
Ans: (1)


20. According to the WPI data released by the Commerce and Industry Ministry on 3 November 2011, food inflation surged to what per cent for the week ended 22 October 2011 owing to soaring prices of various edibles such as vegetables, fruits, pulses, milk and all other protein-rich items?
(1) 11.55%  (2) 12.25%  (3) 12.21%  (4) 11.12%
Ans: (3)


21. World Investment Report 2011 was released by UNCTAD on 26 July 2011. According to the report, what is India’s position among the top 20 Foreign Direct Investment (FDI) recipients?
(1) 8th  (2) 10th  (3) 14th  (4) 4th
Ans: (3)


22. The First Trojan Asteriod of earth discovered by the scientists. What is its name?
(1) 2010TK7  (2) 2010KT7  (3) 2010XY  (4) 2010YX
Ans:  (1)


23. Billionaire entrepreneur Ajay Piramal purchased 5.5% stake in which of the following mobile service providers for Rs. 2900 crore, or $640 million?
(1) Idea Cellular  (2) Vodafone Essar  (3) Bharti Airtel  (4) MTNL
Ans: (2)


24. The Reserve Bank of India (RBI) in a bid to tame inflationary pressure hiked the short-term indicative policy rate (repo rate) by 50 basis points on 26 July 2011. The repo rate currently stands at what percentage?
a. 7%  b. 7.5%  c. 8%  d. 8.5%
Ans: c


25. Which bank posted a 99 per cent drop in net profit at Rs 21 crore for the fourth quarter ended 31 March 2011 against Rs 1867 crore during the corresponding period in 2010?
a. Indian Overseas Bank  b. State Bank of India  c. Bank of India
d. United Bank of India
Ans: b


26. Who did global payments processing company MasterCard appoint as the General Manager, South Asia and Country President, India?
a. T. V. Seshadri  b. Vicky Bindra c. Tunde Lemo d. Ajay Banga
Ans: a


27. Government of India on 19 July 2011 appointed Usha Ananthasubramanian, former general manager of Bank of Baroda (BoB) as executive director of which public sector lender?
a. Central Bank of India  b. Punjab National Bank  c. United Bank of India
d. Gramin Bank
Ans: b


28. Name the public sector lender that selected Metlife as its partner for a proposed foray into the life insurance segment.
a. Syndicate Bank  b. Punjab National Bank  c. Corporation Bank
d. United Bank of India
Ans: b


29. Which bank signed a memorandum of understanding with Dewan Housing Finance Corporation (DHFL) under which DHFL will distribute home loans to Yes Bank's customers?
a. Canara Bank  b. ABN Amro bank  c. Yes Bank  d. HSBC
Ans: c


30. Which life insurance company in India launched a new non-linked health insurance plan, Jeevan Arogya?
a. HDFC Standard Life Insurance Co. Ltd   b. Life Insurance Corporation of India 
c. IDBI Fortis Life Insurance Company Ltd.   d. SBI Life Insurance Co. Ltd
Ans: b


31. Which of the following public sector banks in November 2011 froze its lending to the power sector?
a. State Bank of India  b. Allahabad Bank  c. Punjab National Bank
d. United Bank of India
Ans: b


32. Which Indian bank on 10 May 2011 raised benchmark prime lending rate 75 basis points to 14% following raising of interest rates by RBI by basis points on 3 May 2011?
a. State Bank of India  b. Union Bank  c. Punjab National Bank
d. Bank of Baroda
Ans: a


33. The Reserve Bank of India on 26 April 2011 fined 19 banks, including the country's top private and foreign banks for violating its guidelines on derivatives. Which is the only public sector bank on the list of banks to be fined?
a. State bank of India  b. Punjab National Bank c. Bank of India
d. Indian Bank
Ans: a


34. The Reserve Bank of India on 25 August 2011 released its Annual Report for 2010-11. Which of the following was not discussed in the Annual Report the Central Board of the RBI?
a. assessment of the macroeconomic performance during 2010-11
b. prospects for 2011-12
c. working and operations of the Reserve Bank and its financial accounts
d. role of regulatory bodies in controlling the financial markets
Ans: d


35. Which Indian PSU bank in tune with its plans to expand its retail division in the UK entered the mortgage market in the country for the first time?
a. Punjab National Bank  b. Oriental Bank of Commerce  c. State bank of India
d. Indian Overseas Bank
Ans: c


36. Which of the following banks set up two loan processing centres for the small and medium enterprise (SME) segment on a pilot basis in Bangalore & in New Delhi in September 2011?
a. Corp Bank  b. United Bank of India  c. Syndicate Bank  d. Bank of Baroda
Ans: c


37. The government suspended M Ramadoss for alleged violations in issuing insurance cover to an airline during his stint as head of another state-run insurer. To which insurance group did he belong to?
a. New India Assurance  b. LIC  c. GIC  d. ICICI Insurance
Ans: a

38. Which of the following banks in early May 2011 entered into a tie-up with non-banking finance companies such as Future Capital, Bajaj Finance, and Reliance Capital to grow its retail portfolio?

a. Central Bank of India  b. State Bank of India  c. Bank of India
d. HDFC Bank
Ans: a

39. Which are the two Gujarat-based cooperative sector lenders on which Reserve bank of India imposed a financial penalty of Rs 1 lakh each for violation of various rules, including anti-money laundering guidelines?

1. Shree MahalaxmiMercantile Co-operative Bank  2. Rander People's Co-operative Bank  3. Abad District Co Op Bank  4. Ahd Mercantile Co-Op Bank Ltd
a. 1 & 2  b. 2 & 3  c. 1 & 4  d. 3 & 4
Ans: (a)