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Thursday, May 12, 2016

DAILY CURRENT AFFAIRS: 12 MAY 2016

DAILY CURRENT AFFAIRS: 12 MAY 2016
(Daily News India)
Shared By: WWW.DailyGk.IN

1. RBI TO ISSUE RS. 1000 BANKNOTES WITH INSERT LETTER 'R'
i.Reserve Bank Of India will be going to issue rupees 1,000 denomination bank notes in the Mahatma Gandhi Series of 2005 with the insert letter of 'R' in both the number panels.
ii. The banknotes will also have the other security features, including ascending size of numerals, bleed lines ,identification mark and the signature of RBI governer Dr. Raghuram G. Rajan.
iii. These banknotes will also have the year of printing '2016' printed on the reverse.
GOVERNOROF RESERVE BANK OF INDIA: RAGHURAM RAJAN

2. 100% FDI THROUGH AUTOMATIC ROUTE PERMITTED IN ASSET RECONSTRUCTION COMPANIES
i. The Union Ministry of Commerce & Industry has allowed 100 per cent foreign direct investment in asset reconstruction companies under the automatic route.
ii. Earlier FDI was allowed under automatic route up to 49 per cent
iii.Now it is approved upto 100 %.
iii. Foreign Institutional Investors and foreign portfolio investors have also been permitted to invest up to 100 %.

3. MRUGANK PARANJAPE TOOK CHARGE AS MD AND CEO OF MULTI COMMODITY EXCHANGE
i. Mrugank Paranjape  has been appointed as managing director  and chief executive officer of Multi Commodity Exchange country’s largest commodity exchange.
ii. He has been appointed for a period of 3 years.

4. MAY 11 OBSERVED AS NATIONAL TECHNOLOGY DAY
i. National Technology Day is being observed across India on May 11th.
ii.The day is observed  to glorify the importance of science in day-to-day life and motivate students to adopt science as a career option.
iii.The  Themeof the day is ‘Technology enablers of Startup India’.
iv.The day is observed to celebrate the anniversary of first of the  Operation Shakti under which nuclear test was held on 11 May 1998 in Pokhran, Rajasthan.

5. RAJYA SABHA PASSES THE INSOLVENCY AND BANKRUPTCY CODE BILL 2016
i. The Rajya Sabha  passed the Insolvency and Bankruptcy Code Bill 2016.
ii.The bill will help in improving India’s ranking in the World Bank’s Ease of Doing Business index.
iii.The Bill is based on the recommendations of the Joint Parliamentary Committee on the Insolvency and Bankruptcy Code, 2015 .
iv.The committee is chaired by Bhupender Yadav.
v.Major Highlights of the Bill
a.    Insolvency resolution: The Code creates time-bound processes for insolvency resolution of companies and individuals.  These processes will be completed within 180 days. If insolvency cannot be resolved, the assets of the borrowers may be sold to repay creditors.
b.   Information Utilities: Information utilities will be established to collect, collate and disseminate financial information to facilitate insolvency resolution.
c.    NCLT: The National Company Law Tribunal will adjudicate insolvency resolution for companies.
d.   DRT: The Debt Recovery Tribunal will adjudicate insolvency resolution for individuals.
e.    Insolvency and Bankruptcy Board: The Insolvency and Bankruptcy Board of India will be set up to regulate functioning of IPs, IPAs and IUs.

6. INDIAN-AMERICAN REVATHI BALAKRISHNAN NAMED AS 2016 TEXAS ELEMENTARY TEACHER OF THE YEAR
i. Indian-American elementary teacher, Revathi Balakrishnan was honoured by US President Barack Obama at the White House.
ii. She was named as 2016 Texas Elementary Teacher of the Year.
iii.She received the honour for her excellent work in the field of education at Patsy Sommer Elementary School in Texas.

7. MP TOURISM WINS BEST INDIAN DESTINATION FOR WILDLIFE AWARD
i. Madhya Pradesh Tourism  received the Best Indian Destination for Wildlife Award from the Lonely Planet Group in Mumbai.
ii.Wildlife in Madhya Pradesh state has the total forest cover of M.P. is 24.79% of the land area.
iii. Madhya Pradesh has 25 wild life sanctuaries including nine National Parks.
iv. The state has also launched number of programmes for the conservation of flora and fauna.
v. Two national parks of Madhya pardesh  Kanha and Pench  were regarded as the most beautiful national parks in Asia.

CURRENT AFFAIRS GK QUIZ BASED ON TODAY’S NEWS

1. WHICH OF THE FOLLOWING LETTER IS INSERTED IN THE RS.1000 BANK NOTES?
a.M   
b.R  
c.S  
d.P

2. WHO HAS BEEN APPOINTED AS NEW MD AND CEO OF ‘MULTI COMMODITY EXCHANGE ‘?
a. Mrugank Paranjape 
b.T.S vijayan 
c.Bhupendra yadav
d.Raman thakur
3. NAME THE PERSON WHO HAS BEEN NAMED AS ‘2016 TEXAS ELEMENTARY TEACHER OF THE YEAR’?
a. Revathi Balakrishnan 
b.Manju bhatiya
c. Mukesh kumar
d.S.saharan

4. WHICH STATE HAS WON BEST ‘INDIAN DESTINATION FOR WILD LIFE AWARD’?
a.Punjab  
b.Madhya pardesh  
c.Uttar pardesh  
d.Gujrat

5. WHO IS THE PRESENT CHIEF MINISTER OF MADHYA PARDESH?
a.Akhilesh yadav
 b.Shivraj singh chouhan 
.Kailesh nath 
d.Jitendra Sharma

ANSWERS:
1.b       2.a      3.a      4.b      5.b


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REASONING QUIZ -22 FOR SBI CLERK & PO

REASONING QUIZ -22 FOR SBI CLERK & PO

Directions (1-5): In each question below are given three statements followed by three conclusions numbered I, II and III. You have to take the given statements to be true even if they seem to be at variance with commonly known facts and then decide which of the given conclusions logically follows from the given statements, disregarding commonly known facts.
1. Statements:
Some flowers are rose.
All rose are trees.
No tree is a plant.

Conclusions:
I. At least some plants are rose.
II. All trees being flowers is a possibility.
III. At least some trees are rose.

(1) Only I follows 
(2) Only land II follow 
(3) Only II and III follow
(4) Only I and III follow
(5) None of these

2. Statements:
Some keys are locks.
All locks are ring.
Some ring are windows.

Conclusions:
I. At least some locks are windows.
II. Some windows are ring.
III. Some keys are ring.

(1) None follows 
(2) Only II and III follow
(3) Only II follows
(4) Only III follows 
(5)All follow

3. Statements:
All tablas are sitars.
All sitars are harmoniums.
All harmoniums are violins.

Conclusions:
I. All sitars are violins.
II. All tablas are harmoniums.
III. Some violins are sitars.

(1) All follow  
(2) Only II and III follow
(3) Only I and II follow
(4) Only III follows 
(5) None follows

4. Statements:
All bananas are apples.
Some apples are oranges.
All oranges are grapes.

Conclusions:
I. All grapes are apples.
II. All apples are bananas.
III. All oranges being bananas is a possibility.

(1) Only I follows 
(2) Only II follows 
(3) Only III follows
(4) All follow  
(5) None follows

5. Statements:
Some teachers are doctors.
Some doctors are professors.
All professors are writers.

Conclusions:
I. All teachers being writers is a possibility.
II. All professors being doctors is a possibility.
III. Some writers are doctors.

(1) All follow  
(2) Only I and II follow 
(3) Only I and III follow
(4) Only II and III follow
(5) None of these

Directions (6-7): In each of the questions below is given a statement followed by two courses of action. Course of action is a step for administrative decision to be taken for improvement, follow up or further action in regard to the problem, policy etc. On the basis of the information given in the statement, you have to assume everything in the statement to be true, and decide which of the given suggested courses of action is/are logically worth pursuing.
Give your answer as:
(1) if only I follows
(2) if only II follows
(3) if either I or II follows
(4) if neither I nor II follows
(5) if both I and II follow

6. Statement: There are more than 200 villages in the coastal area of Andhra Pradesh which were severely damaged due to cyclone and it caused an extra burden of Rs 200 crore on State Government for relief and rehabilitation work.
Courses of Action:
I. People of coastal area should be shifted to other safer places.
II. State Government should ask for more financial support from Central Government.

7. Statement: If the retired professors of the same institutes are also invited to deliberate on restructuring of the organisation, their contribution may be beneficial to the institute.
Courses of Action:
I. Management may seek opinion of the employees before calling retired professors.
II. Management should involve experienced people for the systematic restructuring of the organisation.


Directions (Q8-10) :Study the following information and answer the question below:

A family consists of six members P, Q, R, S, T and U. Q is son of R. T is brother of R. S is daughter of P. R is not mother of Q. P and R are married couple. U is brother of Q.

8. How many male members are there in the family?
(a) Two 

(b) Three

(c) Four

(d) Can’t be determined

(e) None of these 


9. Who among the following is mother of Q?

(a) T

(b) P

(c) S

(d) Can’t be determined

(e) None of these 


10. Who among the following is a pair of females?
(a) P, S

(b) Q, S

(c) T, U

(d) P, T

(e) None of these 


ANSWER KEY
1.3, 2.2, 3.1, 4.3, 5.1, 6.5, 7.2, 8.3, 9.2, 10.1,


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BANKING AWARENESS QUIZ - 2 FOR UPCOMING SBI –PO & CLERK EXAM

BANKING AWARENESS QUIZ - 2 FOR UPCOMING SBI –PO & CLERK EXAM

1.  What does Deficit financing mean?
A) Government of India borrows from World Bank
a) Government of India borrows from IMF
b) Government of India borrows from SBI
c) Government of India borrows from RBI
d) None of these.

2.  Principal functions of SIDBI:
a) Promotion of SSI
b) Finance of SSI
c) Development of SSI
d) All the above
e) None of these.

3.  An increase in CRR by RBI leads to:
a) Decrease in deposit
b) Increase in deposit
c) Increase in lendable resources
d) Decrease in lendable resources
e) None

4.  Which is incorrect with regard to powers of RBI:
a) Holds cash reserve banks
b) Controls banking system through licensing
c) Supervises Banking system through inspection
d) None of the above
e) All of the above

5. In India, forex rates are determined by:
a) Importers
b) Exporters
c) RBI
d) Ministry of commerce
e) Demand and supply forces

6. In TRIPS, what does ‘I’ stand for?
a) Intellectual
b) Information
c) Indian
d) Infra
e) None of these

7. The term ‘BSR’ refers to
(a) Bank’s selling Rate
(b) Basic Statistical Returns
(c) Annual returns submitted by banks to RBI in respect to priority sector advances
(d) Quarterly statements of advance to agriculture
(e) None of the above

8. Which of the following organizations is the Mutual Fund Market regulator?
(a) AMFI
(b) SEBI
(c) CIBIL
(d) CRISIL
(e) None of these

9. Cash reserve ratio is maintained in the form of
(a) government securities           
(b) balance with RBI 
(c) balance with state bank of India 
(d) all         
(e) none

10.  The drawer of a cheque is always a
(a) bank
(b) company
(c) Firm
(d) customer
(e) none

ANSWER KEY
1.D, 2.D, 3.D, 4.D, 5.E, 6.A, 7.B, 8.B, 9.B, 10.D,


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REASONING QUIZ-21 FOR SBI PO & CLERK EXAM- PUZZLE & SYLLOGISM

REASONING QUIZ-21 FOR SBI PO & CLERK EXAM- PUZZLE & SYLLOGISM

DIRECTIONS: READ THE FOLLOWING PASSAGE CAREFULLY AND ANSWERS THE QUESTIONS GIVEN BELOW IT:

In a meeting eight delegates A, B C, D, E, F, G, and H of different countries are sitting around a square table facing the centre not necessarily in the same order. Each one of them is belongs to different countries America, Britain, France, Russia, Australia, Italy, Singapore and Thialand.
F sits second to the right of the delegate of Russia. Singapore is an immediate neighbour of delegate of Russia. Two people sit between the delegate of Singapore and B. C and E are immediate neighbours of each other. Neither C nor E is an immediate neighbour of either B or delegate of Russia. The delegate of France sits second to the right of D, who is the delegate of Britain. G and the delegate of America is immediate neighbour of each other. B is not the delegate of America. Only one person sits between C and D. H sits third to left of the delegate of Thialand. The delegate of Italy sits second to left of the delegate of Australia. 

1. WHICH OF THE FOLLOWING IS TRUE WITH RESPECT TO THE GIVEN SEATING ARRANGEMENT?
(1) E is an immediate neighbour of the delegate of America
(2) E is the delegate of Britain
(3) The delegate of America is an immediate neighbour of F
(4) The delegate of Thialand sits between F and delegate of Italy
(5) Shopkeeper sits second to the right of the teacher

2. H IS THE DELEGATE OF WHICH COUNTRY?
(1) America
  
(2) France
 
(3) Russia
 
(4) Australia
  
(5) Thialand

3. WHAT IS THE POSITION OF DELEGATE OF AUSTRALIA WITH RESPECT TO DELEGATE OF SINGAPORE?
(1) Immediately to the left 
(2) Third to the left
(3) Second to the right
  
(4) Fourth to the left
(5) Second to the left

4. WHO SIT/S EXACTLY BETWEEN THE DELEGATE OF BRITAIN AND C?
(1) H  
(2) Delegate of France
(3) Delegate of Italy
(4) Cannot be determined

(5) F

5. WHAT IS THE POSITION OF DELEGATE OF FRANCE WHEN COUNTED ANTI-CLOCK WISE DIRECTION FROM C?
(1) Immediately to the left 
(2) Third to the left
(3) Second to the right
  
(4) Fourth to the left
(5) None of these

DIRECTIONS (6-7): READ THE FOLLOWING INFORMATION CAREFULLY AND ANSWER THE QUESTIONS GIVEN BELOW.
(i) A X B means “A is the father of B”
(ii) A + B means “B is the sister of A”
(iii) A – B means “B is the mother of A”
(iv) A ÷B means “A is the brother of B”

6. WHICH OF THE FOLLOWING MEANS P IS NEPHEW OF R?
(I) R x K ÷ P
(II) R – N + P – K
(III) R ÷ K x P + M
(1) Only I
  
(2) Only II
(3) Only III
  
(4) Either II or III
(5) None of these

7. IF IT IS GIVEN K X P ÷ R + S – Q. THEN WHICH OF THE FOLLOWING IS TRUE?
(1) R is the brother of P
(2) K is the husband of S
(3) Q is the wife of K
(4) R is the sister of S
(5) None of these

DIRECTIONS (8-10): IN EACH GROUP OF QUESTIONS BELOW ARE THREE STATEMENTS FOLLOWED BY TWO CONCLUSIONS NUMBERED I AND II. YOU HAVE TO TAKE THE GIVEN STATEMENTS TO BE TRUE EVEN IF THEY SEEM TO BE AT VARIANCE FROM COMMONLY KNOWN FACTS AND THEN DECIDE WHICH OF THE GIVEN CONCLUSIONS LOGICALLY FOLLOW FROM THE THREE STATEMENTS DISREGARDING COMMONLY KNOWN FACTS. 
GIVE ANSWER—
(1) If only conclusion I follows.
(2) If only conclusion II follows
(3) If either conclusion I or conclusion II follows.
(4) If neither conclusion I nor conclusion II follows.
(5) If both conclusion I and conclusion II follow.

STATEMENTS (8-10):
No coconut is a lemon.
All lemons are onions.
All coconuts are groundnuts.

8. CONCLUSIONS: 
I. Some groundnuts are not onions.
II. All lemons are groundnuts is a possibility.

9. CONCLUSIONS: 
I. Some lemons which are groundnuts are also a part of onions
II. No onion is coconut.

10. STATEMENTS
Some thousands are millions.
All millions are billions.
All trillions are billions.

 CONCLUSIONS: 
I. All thousands are trillions is a possibility.
II. No billion is thousand is a possibility.


ANSWERS

1.4, 2.3, 3.2, 4.3, 5.5, 6.5, 7.3, 8.2, 9.4, 10.1,
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Wednesday, May 11, 2016

BANKING AWARENESS QUIZ-1 FOR UPCOMING SBI –PO & CLERK EXAM

BANKING AWARENESS QUIZ-1 FOR UPCOMING SBI –PO & CLERK EXAM

1. WHICH IS NOT A FUNCTION OF GENERAL INSURANCE ?
a) Cattle Insurance
b) Crop Insurance
c) Marine Insurance
d) Fire Insurance
e) Medical Insurance

2. WHAT IS MORTGAGE :
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

3. A FIXED DEPOSIT RECEIPT KEPT WITH THE BANK FOR ITS SAFETY IS CALLED ?
a) Safe custody
b) Safe deposit
c) Locker
d) Valid safe deposit
e) None of the above

4. WHO AMONG THE FOLLOWING IS THE PRIMARY REGULATOR OF BANKING IN INDIA?
a) Reserve Bank of India
b) Central Government
c) State Government
d) Parliament
e) a and b both the above

5. A COMPANY, WHICH IS NOT A NON  BANKING FINANCIAL COMPANY (NBFC) WANTS TO COLLECT PUBLIC DEPOSITS THEN IT IS GOVERNED BY WHICH ACT:
a) RBI Act 1934
b) Banking companies Act
c) Companies Act 1956
d) Central Government
e) None of the above

6. IN INDIA, IT IS NECESSARY FOR A BANK TO TAKE LICENSE FROM THE RBI FOR OPENING A NEW BRANCH. THIS IS A REQUIREMENT UNDER WHICH ACT
a) Section 22 of banking Regulation Act
b) Section 22 of RBI Act
c) Section 22 of NABARD
d) KYC Guidelines by RBI
e) a and b above

7. WHICH ONE IS NOT THE MOST COMMON OBJECTIVE OF BANKING REGULATIONS ?
A. Systematic Risk Reduction.
B. Credit Allocation
C. Prudential Objectives
D. Market Discipline.
E. None of these

8. FINANCIAL INCLUSION IS ALSO KNOWN AS ?.
A. Social Responsibility of the Banking and Govt. System.
B. Delivery of Financial Services at an affordable cost
C. Delivery of banking services at an affordable cost.
D. All of these
E. None of these

9. WHICH OF THE FOLLOWING IS NOT THE GOVERNMENT SECURITIES?
A. T- Bill.
B. Floating rate Bonds
C. Dated Securities
D. Call/Put Option Bonds.
E. Gilt edged secruities

10. CREDIT GUARANTEE CORPORATION ESTABLISHED IN WHICH YEAR,?
A. 1975
B. 1988
C. 1971
D. 2001
E. 2003
ANSWER
1.C, 2.B, 3.A, 4.A, 5.D, 6.A, 7.D, 8.D, 9.A, 10.C,


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