Wednesday, 9 March 2016


1. What is the minimum capital requirement for New Banks in the Private Sector?
a) Rs. 200 crore
b) Rs. 300 crore
c) Rs. 500 crore
d) Rs. 600 crore
e) None of these

2. Many times we read a term "ECB" in financial newspapers. What is the full form of ECB?
a) Essential Commercial Borrowing
b) Essential Credit and Borrowing
c) External Credit and Business
d) External Commercial Borrowing
e) None of the above

3. Which among the following banks has launched "Dhanchayat" an educational film to raise awareness on the dangers of borrowing money from unorganised sources?
a) Axis 
c) HDFC 
d) SBI
e) YES

4. What is the maximum monthly pension for the subscribers under Atal Pension Yojana?
a) Rs 2000 
b) Rs 3000
c) Rs 4000 
d) Rs 5000
e) None of these

5. If a company which is not a non - banking financial company wants to collect public deposits, it is governed by ___ Act:
a) RBI Act 1934
b) Banking companies Act
c) Companies Act 1956
d) Central Government
e) None of the above

6. Which among the following has launched a Smart Humsafar Plan, a unique plan which offers multiple benefits of savings and insurance cover for husband and wife under a single policy?
a) ICICI Prudential
b) SBI Life 
d) LIC 

7. Which country launched world first Facial recognition ATM?
a) China 
b) Japan
c) US 
d) Canada
e) Brazil

8. Which type of machine is used by Business Correspondents?
a) Micro ATMs 
b) POS
c) Biometric Card Reader
d) Solar empowered
e) Water resistant

9. Which among the following bank has tied up with Chinese ecommerce giant Alibaba to provide easier trade finance to small and medium enterprises (SMEs) in the country?
a) HDFC Bank
b) SBI Bank
c) Canara Bank
d) ICICI Bank 
e) Axis Bank

10. In India, conventionally, bonds are issued by institutions in ____ sector while debentures by corporate in ____ sector.
a) private, public
b) public, private
c) either a or b
d) cooperative, NBFC
e) None of the above

11. What is the name of the platform launched by State Bank of India (SBI) that enables customers to book their foreign exchange transactions online?
a) SBI eforex
b) SBI emoney
c) SBI eonline
d) SBI eshare
e) SBI ebuddy

12. In CDR, "R" stands for ____.
a) Ratio 
b) Receipt
c) Regulation 
d) Restructuring
e) Reserve

13. Which of the following is not a function of General Insurance?
a) Cattle Insurance
b) Crop Insurance
c) Marine Insurance
d) Fire Insurance
e) None of the above

14. The Bank for International Settlements (BIS) is the world's oldest international financial organization established on 17 May 1930. The mission of the BIS is to serve central banks in their pursuit of monetary and financial stability, to foster international cooperation
in those areas and to act as a bank for central banks. The head office of BIS is located in ___.
a) Hong Kong 
b) Switzerland
d) Mexico
e) Australia

15. National Investment and Infrastructure Fund (NIIF) is a fund created by the Government of India for enhancing infrastructure financing in the country. To be operational by the year end, the headquarter of NIIF will be located in ____.
a) Mumbai 
b) New Delhi
c) Bengaluru 
d) Chennai
e) Kolkata

16. Special Drawing Rights (SDRs) are international foreign exchange reserve assets issued by
a) World Bank 
b) WTO
c) ADB 
d) IMF
e) None of these

17. Which of the following types of accounts are known as "Demat Accounts"?
a) Zero Balance Accounts
b) Accounts which are opened to facilitate repayment of a loan taken from the bank. No other business can be conducted from there
c) Accounts in which shares of various companies are traded in electronic form
d) Accounts which are operated through internet banking facility
e) None of the above

18. According to the Socio Economic and Caste Census (SECC) which among the following states in India has highest per cent of Urban BPL households?
a) Bihar 
b) Uttar Pradesh
c) Manipur 
d) Jharkhand
e) Sikkim

19. Payment of a cheque may be countermanded by the ___
a) Payee 
b) Drawer
c) True owner 
d) Drawee
e) None of these

20. Union Government has decided to set up a Bank Board Bureau (BBB) to monitor key performance indicators of two dozen public sector banks (PSBs). BBB will start functioning from ___.
a) 31st December 2015
b) 1st January 2016
c) 31st March 2016
d) 1st April 2016
e) 1st June 2016

21. Identify the well known person related to Banking field in India from the following?
a) Mrs. Meira Kumar
b) Mrs. Kiran Shaw
c) Mr. Arun Jaitley
d) Dr. D Subbarao
e) All of the above

22. A fixed deposit receipt is kept with the bank for its safety, is known as ___?
a) Safe custody
b) Safe deposit
c) Locker
d) Valid safe deposit
e) None of the above

23. Reserve Bank will issue ___bank notes with 3 additional features to aid the visually impaired in identification.
a) Rs. 500 and Rs 1,000
b) Rs. 100 and Rs. 500
c) Rs. 50 and Rs. 100
d) Rs. 10 and Rs. 100
e) None of these

24. Simply click a card launched by SBI special for ____.
a) Cash Transfer
b) Online Shopping
c) Pay Utility Bills
d) For Home Loans
e) None of these

25. Banking Companies are prohibited under Sec 8 of banking Regulation Act to sell and purchase securities. Yet Banks are selling securities (of the customer) which are under pledge as permitted by:
a) Indian Contract Act
c) Government Notification
d) Banking Regulation Act
e) None of these

26. Hypothecation is:
a) Atransaction of conditional sale
b) A legal transaction whereby goods may be made available as security for a debt
c) Transfer of ownership by the borrower to the lender
d) Either a or b
e) None of the above

27. Mortgage is a:
a) Security on movable property for a loan
b) Security on immovable property for a loan
c) Concession on immovable property
d) Facility on immovable property
e) Security on loan sanctioned against fixed deposits

28. What is the minimum amount to be invested under Sukanya Samriddhi Scheme?
a) Rs. 500 
b) Rs. 1000
c) Rs. 1500 
d) No ceiling
e) Rs. 100

29. The Main activity of the Financial Intelligence Unit India (FIUIND) is to control:
a) Tax Evasion
b) Money Laundering
c) Terrorism
d) Avoiding NPAs
e) Avoiding frauds in ATMs

30. The SARFAESI Act 2002 empowers Banks / Financial Institutions to recover their non-performing assets (bad loans) without the intervention of the Court. In "SARFAESI" second "S" stands for ____.
a) Securitisation
b) Security 
c) Statutory
d) Share 
e) Saving

31. The main function of an Asset Management Company is to:
a) hold the securities of various schemes
b) manage the funds by making investments in various types of securities
c) hold its property for the benefit of the unit holders
d) act on behalf of SEBI
e) All the above

32. Global Rating Agency Fitch has downgraded Viability Rating (VR) by one notch to 'bb' of which among the following banks?
a) Bank of Baroda
b) State Bank of India
c) Punjab National Bank
d) Canara Bank
e) IDBI Bank

33. The Banking Codes and Standards Board of India was registered on 18th February, 2006 under which of the following RBI Act?
a) Banking Regulation Act
b) The Societies Registration Act, 1860
c) Cooperative Societies Act
d) None of the above
e) All the above

34. As per the Banking Ombudsman Scheme, any person can file a complaint before the Banking Ombudsman, if the satisfied reply is not received from the bank within a period of ____.
a) one month 
b) three months
c) two months 
d) six months
e) None

35. CIBIL as a credit bureau caters to:
a) Consumer segments
b) Commercial segments
c) Both commercial and consumer segments
d) Nationalized Banks only
e) Private Banks only

36. Infusion of liquidity, by RBI, is done through _____ from / to banks under a _____ transaction.
a) borrowing, repo
b) borrowing, reverse repo
c) lending, repo
d) lending, reverse repo
e) None of the above

37. Some banks are financing big projects like construction of roads, bridges etc. Financing such projects means banks are helping exactly in:
a) Infrastructural Development
b) Project Management
c) Developing core sector Industry
d) Financial Inclusion
e) All of the above

38. A rate of exchange established between any two currencies on the basis of the respective quotation of each currency in terms of a third currency is known as:
a) Cross rate 
b) Merchant rate
c) Wash rate 
d) Composite rate
e) None of the above

1) c; 2) d; 3) c; 4) d; 5) c; 6) b; 7) a; 8) c; 9) d; 10) b;
11) a; 12) d; 13) e; 14) b; 15) a; 16) d; 17) c; 18) c; 19) b; 20) d;
21) d; 22) a; 23) a; 24) b; 25) d; 26) b; 27) b; 28) b; 29) b; 30) b;
31) b; 32) c; 33) b; 34) a; 35) c; 36) c; 37) a; 38) a.

Monday, 7 March 2016


  • Infrastructure and agriculture cess to be levied.
  • Excise duty raised from 10 to 15 per cent on tobacco products other than beedis
  • 1 per cent service charge on purchase of luxury cars over Rs. 10 lakh and in-cash purchase of goods and services over Rs. 2 lakh.
  • 0.5 per cent Krishi Kalyan Cess to be levied on all services.
  • Pollution cess of 1 per cent on small petrol, LPG and CNG cars; 2.5 per cent on diesel cars of certain specifications; 4 per cent on higher-end models.
  • Dividend in excess of Rs. 10 lakh per annum to be taxed at additional 10 per cent.
  • SUVs, Luxury cars to be more expensive. 4% high capacity tax for SUVs.
  • Companies with revenue less than Rs 5 crore to be taxed at 29% plus surcharge
  • Limited tax compliance window from Jun 1 – Sep 30 for declaring undisclosed income at 45% incl. surcharge and penalties
  • Excise 1 per cent imposed on articles of jewellery, excluding silver.

  • Rs. 38,500 crore for Mahtma Gandhi MGNREGA for 2016-17
  • Swacch Bharat Abhiyan allocated Rs.9,500 crores.
  • Hub to support SC/ST entrpreneurs
  • Government is launching a new initiative to provide cooking gas to BPL families with state support.
  • LPG connections to be provided under the name of women members of family: Rs 2000 crore allocated for 5 years for BPL families.
  • 2.87 lakh crore grants to gram panchayats and municipalities – a quantum jump of 228%.
  • 300 urban clusters to be set up under Shyama Prasad Mukherji Rurban Mission
  • Four schemes for animal welfare.
Education, Skills and Job Creation

  • 62 new Navodaya Vidyalayas will be opened
  • Sarva Shiksha Abhiyan to increasing focus on quality of education
  • Regulatory architecture to be provided to ten public and ten private institutions to emerge as world-class Teaching and Research Institutions
  • Higher Education Financing Agency to be set-up with initial capital base of ` 1000 Crores
  • Digital Depository for School Leaving Certificates, College Degrees, Academic Awards and Mark sheets to be set-up.
Financial Sector Reforms

  • A comprehensive Code on Resolution of Financial Firms to be introduced.
  • Statutory basis for a Monetary Policy framework and a Monetary Policy Committee through the Finance Bill 2016.
  • A Financial DataManagement Centre to be set up.
  • RBI to facilitate retail participation in Government securities.
  • New derivative products will be developed by SEBI in the Commodity Derivatives market.
  • Amendments in the SARFAESI Act 2002 to enable the sponsor of an ARC to hold up to 100% stake in the ARC and permit non institutional investors to invest in Securitization Receipts.
  • Comprehensive Central Legislation to be bought to deal with the menace ofillicit deposit taking schemes.
  • Increasing members and benches of the Securities Appellate Tribunal.
  • Allocation of ` 25,000 crore towards recapitalisation of Public Sector Banks.
  • Target of amount sanctioned under Pradhan Mantri Mudra Yojana increased to ` 1,80,000 crore.
  • General Insurance Companies owned by the Government to be listed in the stock exchanges.

  • 2.2 lakh renal patients added every year in India. Basic dialysis equipment gets some relief.
  • A new health protection scheme for health cover upto 1 lakh per family.
  • PM Jan Aushadhi Yojana to be strengthened, 300 generic drug store to be opened National Dialysis Service Prog with funds thru PPP mode to provide dialysis at all district hospitals.
  • Senior citizens will get additional healthcare cover of Rs 30,000 under the new scheme

  • Rs. 3000 crore earmarked for nuclear power generation
  • Govt drawing comprehensive plan to be implemented in next 15-20 years for exploiting nuclear energy
  • Govt to provide incentive for deepwater gas exploration
  • Deepwater gas new disc to get calibrated market freedom, pre-determined ceiling price based on landed price of alternate fuels.

  • Total allocation for agriculture and farmer welfare at Rs 35984 crores
  • 28.5 lakh heactares of land wil be brought under irrigation.
  • 5 lakh acres to be brought under organic farming over a three year period
  • Rs 60,000 crore for recharging of ground water recharging as there is urgent need to focus on drought hit areas cluster development for water conservation.
  • Dedicated irrigation fund in NABARD of Rs.20.000 cr
  • Nominal premium and highest ever compensation in case of crop loss under the PM Fasal Bima Yojna.

  • Banks get a big boost: Rs 25,000 crore towards recapitalisation of public sector banks. Jaitley says: Banking Board Bureau will be operationalised, we stand solidly behind public sector banks.
  • Target of disbursement under MUDRA increased to 1,80,000 crore
  • Process of transfer of government stake in IDBI Bank below 50% started
  • General Insurance companies will be listed in the stock exchange
  • Govt to increase ATMs, micro-ATMs in post offices in next three years
Investments and infrastructure

  • Rs. 27,000 crore to be spent on roadways
  • 65 eligible habitats to be connected via 2.23 lakh kms of road. Current construction pace is 100 kms/day
  • Shops to be given option to remain open all seven days in a week across markets.
  • Rs. 55,000 crore for roads and highways. Total allocation for road construction, including PMGSY, – Rs 97,000 crore
  • India’s highest-ever production of motor vehicles was recorded in 2015
  • Total outlay for infrastructure in Budget 2016 now stands at Rs. 2,21,246 crore
  • 100 per cent FDI in marketing of food products produced and marketed in India
  • Dept. of Disinvestment to be renamed as Dept. of Investment and Public Asset Management
  • Govt will amend Motor Vehicle Act in passenger vehicle segment to allow innovation.
  • MAT will be applicable for startups that qualify for 100 per cent tax exemption
  • Direct tax proposals result in revenue loss of Rs.1060 crore, indirect tax proposals result in gain of Rs.20,670 crore
  • New greenfield ports to be developed on east and west coasts
  • Revival of undeserved airports. Centre to Partner with States to revive small airports for regional connectivity
Roadmap & Priorities

  • ‘Transform India’ to have a significant impact on economy and lives of people.
  • Focus on enhancing expenditure in priority areas of – farm and rural sector, social sector, infrastructure sector employment generation and recapitalisation of the banks.
  • Continue with the ongoing reform programme and ensure passage of the Goods and Service Tax bill and Insolvency and Bankruptcy law.
Rural Sector

  • Allocation for rural sector – ` 87,765 crore.
  • 2.87 lakh crore will be given as Grant in Aid to Gram Panchayats and Municipalities as per the recommendations of the 14th Finance Commission
  • Every block under drought and rural distress will be taken up as an intensive Block under the Deen Dayal Antyodaya Mission
  • A sum of ` 38,500 crore allocated for MGNREGS.
  • 300 Rurban Clusters will be developed under the Shyama Prasad Mukherjee Rurban Mission
  • A new Digital Literacy Mission Scheme for rural India to cover around 6 crore additional household within the next 3 years.
  • National Land Record Modernisation Programme has been revamped.
  • New scheme Rashtriya Gram Swaraj Abhiyan proposed with allocation of ` 655 crore
  • 100% village electrification by 1st May, 2018.
  • District Level Committees under Chairmanship of senior most Lok Sabha MP from the district for monitoring and implementation of designated Central Sector and Centrally Sponsored Schemes.
  • Priority allocation from Centrally Sponsored Schemes to be made to reward villages that have become free from open defecation.

Saturday, 16 January 2016

Top Scheme And Programme Launched By Narendra Modi Government

SNGovt SchemeDetails

Make in India

  • It was Launched on 25th September 2014Make In India.png
  • To make India a manufacturing hub.
  • Make in India is an initiative of the Government of India to encourage multinational, as well as domestic, companies to manufacture their products in India.
  • The major objective behind the initiative is to focus on job creation and skill enhancement in twenty-five sectors of the economy

Digital India

  • Launched on 1st July 2015
  • To transform India’s economyPrime Minister Narendra Modi at the stage for Digital India Dinner.jpg
  • Digital India has three core components.
These include:
  • The creation of digital infrastructure
  • Delivering services digitally
  • Digital literacy

Skill India

  •  Launched on 15th July 2015)
  • To create jobs for youth of the Country
  • Skill Development in Youth
  • Making Skill available to All Youth of India

Smart Cities

  • Launched on 29th April 2015
  • In first Government of india Will Develop 100 Smart cities in India
  • Under this Scheme Cities from all States Are Selected

Unearthen Black Money

  •  Bill Passed on 14th May 2015
  • Disclosing Black Money
  • Punishment for The Black Money holders

Namami Gange

  •  Namami Gange Project or Namami Ganga Yojana is an ambitious Union Government Project which integrates the efforts to clean and protect the Ganga river in a comprehensive manner.
  • It its maiden budget, the government announced Rs. 2037 Crore towards this mission.
  • The project is officially known as Integrated Ganga Conservation Mission project or ‘Namami Ganga Yojana’.
  • This project aims at Ganga Rejuvenation by combining the existing ongoing efforts and planning under it to create a concrete action plan for future.

Swachh Bharat Abhiyan

  • Launched on 2nd October 2014)
  • To have clean India by 2nd October 2019Swachh Bharat Abhiyan logo.jpg
  • Eliminate open defecation by constructing toilets for households, communities
  • Eradicate manual scavenging
  • Introduce modern and scientific municipal solid waste management practices
  • Enable private sector participation in the sanitation sector
  • Change people’s attitudes to sanitation and create awareness

Swadesh Darshan

  •  Integrated Development of Theme Based Buddhist tourist circuit

Sukanya Samridhi Account

  •  Launched on 22nd January 2015
  • The scheme was launched by Prime Minister Narendra Modi on 22 January 2015 as a part of the Beti Bachao, Beti Padhao campaign.
  • The scheme currently provides an interest rate of 9.2% and tax benefits.
  • The account can be opened at any India Post office or a branch of some authorised commercial banks

Bal swachh mission

  •  Launched on 14th November 2014)
  • Awareness about the cleanliness of the children

Pradhan Mantri Jan Dhan Yojana

  • Launched on 28th August 2014 )
  • To give financial services to weaker section of society.

Pradhan Mantri Suraksha Bima Yojana

  •  Launched on 9th May 2015
  • Eligibility: Available to people in age group 18 to 70 years with bank account.
  • Premium:  Rs.12 per annum.
  • Payment Mode: The premium will be directly auto-debited by the bank from the subscribers account. This is the only mode available.
  • Risk Coverage:  For accidental death and full disability – Rs.2 Lakh and for partial disability – Rs.1 Lakh.
  • Eligibility: Any person having a bank account and Aadhaar number linked to the bank account can give a simple form to the bank every year before 1st of June in order to join the scheme.  Name of nominee to be given in the form.

Beti Bachao Beti Padhao Yojana

  •  (Launched on 22nd January 2015)-To generate awareness of welfare service meants for girl child and women.

Atal Pension Scheme

  • (Launched on 9th May 2015)-for unorganised sector ‘s workers

HRIDAY (National Heritage City Development and Augmentation Yojana) scheme

  • (Launched on 21st January 2015)-To develop heritage cities.

Pradhan Mantri Jeevan Jyoti Bima Yojana

  •  (Launched on 9th May 2015)-Life insurance scheme by Government

MUDRA Bank Yojana

  • (Launched on 8th April 2015) to provide up to 10 lakh to small entrepreneur.

Krishi Amani Bima Yojana

  • Scheme for farmer

Pradhan Mantri Gram Sinchai Yojana

  • To provide water to all field in the Country.

Pradhan Mantri Sansad Adarsh Gram Yojana

  • (Launched on 11th October 2014)-Each MP to develop three villages by 2019.

Deen Dayal Upadhyaya Grameen Kaushalya Yojana

  • (Launched on 25th September 2014)- To provide employmentto youth residing in rural area.

Deendayal Upadhyaya Gram Jyoti Yojana

  • To provide power(electricity) to rural area of the country.

Mahatma Gandhi Pravasi Suraksha Yojana

  •  Mahatma Gandhi Pravasi Suraksha Yojana is a special social security scheme which includes Pension and Life Insurance, introduced by Ministry of Overseas Indian Affairs for the overseas Indian workers in possession of Emigration Check Required (ECR) passports.
  • It is a voluntary scheme designed to help workers to meet their three financial needs: saving for retirement, saving for their return and resettlement, and providing free life insurance offering coverage for death from natural causes.

Indradanush Scheme

  • (Launched on 25th December 2014)

Soil Health Card Scheme

  •  Soil Health Card Scheme is a scheme launched by the Government of India in February 2015.
  • Under the scheme, the government plans to issue soil cards to farmers which will carry crop-wise recommendations of nutrients and fertilisers required for the individual farms to help farmers to improve productivity through judicious use of inputs.Prime Minister Narendra Modi launching the Soil Health Card scheme in Suratgarh, Rajasthan.jpg
  • All soil samples are to be tested in various soil testing labs across the country.
  • Thereafter the experts will analyse the strength and weaknesses (micro-nutrients deficiency) of the soil and suggest measures to deal with it.
  • The result and suggestion will be displayed in the cards.
  • The government plans to issue the cards to 14 crore farmers

Rani Laxmi Bai Pension scheme

  • For victims of Muzazafar nagar riot.

Udaan Scheme

  • To provide skill to youth of India.

Shyama Prasad Mukherji Rurban Mission

  •  The Mission aims at development of rural growth clusters which have latent potential for growth, in all States and UTs, which would trigger overall development in the region.
  • These clusters would be developed by provisioning of economic activities, developing skills & local entrepreneurship and providing infrastructure amenities.
  • The Rurban Mission will thus develop a cluster of Smart Villages.

Pandit Deendayal Upadhyay Shramev Jayate Karyakram

  • (Launched on 16th October 2014)

Kisan Vikas Patra

  •  (Relaunched in 2014) – Saving certificate Scheme


  • Atal Mission for Rejuvenation and Urban Development (earlier name JNNURM)


  • Pilgrimage Rejuvenation and Spiritual Augmentation-To improve the infrastructure at pilgrimage places.

Pradhan Mantri Fasal Bima Yojana

  •  The Union Cabinet has approved Pradhan Mantri Fasal Bima Yojana
  • It is a new crop insurance scheme to boost farming sector in the country.
  • It is farmers’ welfare scheme
  • The Scheme aims to reduce the premium burden on farmers and ensure early settlement of crop Insurance claim for the full insured sum.We Will cover this Scheme In details in Separate Article