IBPS CWE Clerical Exam: General Awareness (with special reference to Banking Industry): Practice Set 1

IBPS CWE Clerical Exam: General Awareness (with special reference to Banking Industry): Practice Set 1

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
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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
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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
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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
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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
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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%
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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
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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
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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
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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
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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
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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
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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%
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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
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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
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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
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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
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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
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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
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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%
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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
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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
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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%
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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
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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
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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
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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
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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
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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
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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
See Answer:


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
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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
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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
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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
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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
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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
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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
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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
See Answer: