Banking Awareness PYQs

The correct answer is None of these.

Key Points

• In KLEMS K stand for Capital.
• KLEMS K- capital, L- labor, E- energy, M- materials, and S- service.
• The database is part of a research project supported by the Reserve Bank of India to analyze productivity performance in the Indian economy at disaggregated industry level.
• Its main objective is to create sustainable growth, employment, and productivity database in the industry.
• Measuring productivity at the Industry Level and generating statistics and other essential information as inputs to evaluate goals related to productivity and economic growth potential.

The correct answer is 140^th.

Key Points

• New Delhi has been placed 112^th on the list of the most liveable city in the world.
• Followed by Mumbai at 117^th, Chennai at 142^nd, and Ahmedabad at 146^th positions respectively.
• The most livable city according to the index is Vienna, Austria followed by Copenhagen (Denmark) and Zurich (Switzerland).
• Damascus, Syria worst liveable city in the world in 2022.
• Osaka city of Japan is the only Asian country to secure a position in the best top 10 countries according to the Global Liveability Index 2022.

Additional Information

• Global Liveability Report is published by the Economic Intelligence Unit.
• Economic Intelligence Unit is an organization that provides research and advisory services to assist entrepreneurs, financiers, and government officials.
• It was founded in 1946 and its headquarter is located in London, England.
• ​Global Liveability ranking is based on their performance and is dependent on various parameters like Education, Environment, Healthcare, the standard of living, etc.
• The Ministry of Housing and Urban Affairs published the report on the Ease of Living Index India.

The correct answer is Russia.

Key Points

• The Sberbank is majorly owned by Russia.
• It is a Russian majority state-owned banking and financial services company.
• The majority shareholder of Sberbank is the Russian National Wealth Fund which is managed by the Government of Russia.
• It was established in 1841.
• Its headquarter is located in Moscow.
• It was founded under the Central Bank of the Russian Federation.

Important Points

• ​Russia (The Russian Federation) is the world's largest country.
• Russia is the only country in the world that is a transcontinental nation that spread in both Asia and Eastern Europe continent.
• Capital: Moscow
• President: Vladimir Putin
• Prime minister: Mikhail Mishustin
• Population: 14.34 crores
• Currency: Russian Ruble

The correct answer is Department for Promotion of Industry and Internal Trade.

Key Points

• The States’ Startup Ranking is an annual report presented by the Department for Promotion of Industry and Internal Trade.
• The idea of the framework was first launched in February 2018.
• Gujarat and Karnataka have secured a position as the ‘best performers’ in Category A, while Meghalaya was nominated as the ‘best performer’ in Category B.
• Category A consists of states and Union territories with a population of over 1 Crore.
• Category  B consists of states and Union territories with a population under 1 Crore.
• Further, it is also divided into best performers, top performers, leaders, aspiring leaders, and emerging startup ecosystems.
• Department for Promotion of Industry and Internal Trade (DPIIT) comes under the Ministry of Commerce and Industry.
• Anurag Jain is the current head of Department for Promotion of Industry and Internal Trade.
• Piyush Goyal is the chairperson of the Ministry of Commerce and Industry.

Additional Information

• The Department of Industrial Policy & Promotion was founded in 1995 and renamed as the Department for Promotion of Industry and Internal Trade.
• ​The Board of Investments is the lead investment promotion agency of the Philippine government.
• The Department of Trade and Industry's main aim is to develop policies and programs aimed at sustaining the growth and development of the Philippine economy.

The correct answer is World Economic Forum.

Key Points

• The World Economic Forum has launched a new Education 4.0 India Report.
• World Economic Forum partnered with UNICEF and YuWaah (Generation Unlimited India) for the final report.
• The report explains how digital and other technologies can address learning gaps and make education accessible to all.
• It tracks the progress and findings of the Education 4.0 India initiative, which focuses on how Fourth Industrial Revolution technologies can enhance learning and reduce inequalities in access to education among children in India.
• The report basically aims to address the disparities in India’s education sector and to empower and engage young people.
• A UNICEF-initiated YuWaah is a global platform, that aims to prepare young people to transition from education and learning to productive work.

Additional Information

• ​World Economic Forum (WEF) is an international organization that works on projects and initiatives that make a real difference.
• Klaus Schwab founded the World Economic Forum in 1971.
• Its headquarters is located in Cologny, Switzerland.
• Borge Brende is the current president of the World Economic Forum.

The correct answer is Switzerland.

Key Points

• Holcim Limited is a Switzerland-based multinational company.
• Adani Group will acquire 63.1 percent of Ambuja Cements along with related assets.
• The value for the Holcim stake and open offer consideration for Ambuja Cements and ACC is $10.5 billion, which makes this the largest-ever acquisition by the Adani Group
• The new Ambuja Cements board comprises Gautam Adani as chairman.
• With this Adani Group becomes India's second-largest cement maker.
• Ultratech Cement of Aditya Birla Group is the largest cement company in India$.

The correct answer is 1952.

Key Points

• In 1952 government officially declared the extinction of Cheetahs from the country.
• The cheetah is believed to have disappeared from India in 1947 when they hunted down and shot the last three recorded Asiatic cheetahs in India.
• Hunting was a major contributing factor to the cheetah’s extinction.
• In 2022 Cheetahs bring from Namibia to India's Kuno-Palpur National Park in Madhya Pradesh.
• The International Union for the Conservation of Nature (IUCN) declared Cheetahs as “Vulnerable” and The Asiatic cheetah has been listed as Critically Endangered.
• Namibia today maintains the largest population of wild cheetahs.

Additional Information

• ​The International Union for the Conservation of Nature is an international organization working in the field of nature conservation and ensuring that any use of natural resources is equitable and ecologically sustainable.
• IUCN divides threatened species into three categories: Vulnerable, Endangered, and Critically Endangered.
• The motto of IUCN is 'United for Life and Livelihoods'.
• Founded: 1948
• Headquarters: Gland, Switzerland
• Founder: Julian Huxley
• Director General: Bruno Oberle

The correct answer is Nirmala Sitharaman.

Key Points

• Nirmala Sitharaman unveiled the Foreign Trade Policy (FTP) 2015-2020. Back then she was Minister of State for Commerce & Industry.
• In September 2022 the government decided to extend the existing five-year foreign trade policy by another six months because of global economic uncertainty and currency volatility.
• These are the main key points of FTP 2015-2020:
• It provides a framework for increasing exports of goods and services.
• Generation of employment and increasing value addition in the country. Inauguration of the ‘Make in India’ program.
• It introduces two schemes: The Merchandise Exports from India Scheme and the Services Exports from India Scheme.
• E-Commerce exports of handloom products, etc.
• Facilitating & Encouraging Export of Defense Exports.
• Work towards paperless working in a 24x7 environment.

Additional Information

• Syama Prasad Mukherjee was the first Minister of Commerce and Industry.
• Piyush Goyal is the current officeholder of the Ministry of Commerce and Industry.
• In 1957 Ministry of Commerce and Consumer Industries and the Ministry of Heavy Industries were merged to form the Ministry of Commerce and Industry.

The correct answer is India.

Key Points

• India is the world's second-largest cement producer in the world.
• In 2021, it amounted to a distant 330 million metric tons of production.
• China produces an estimated 2.5 billion metric tons in 2021 almost equates to over half of the world's cement.
• Bangladesh, Sri Lanka, and Nepal are India's top Cement importers.
• Madhya Pradesh is the largest cement producer with 23 plants in India followed by Andhra Pradesh with 19 plants.
• Satna, Madhya Pradesh knowns as the cement city in India.

The correct answer is Constellation.

Key Points

• In 2016 The Indian Space Research Organisation (ISRO) and its commercial wing ANTRIX renamed the Indian Regional Navigation Satellite System (IRNSS) as NAVIC.
• NAVIC stands for Navigation in Indian Constellation.
• Navigation with the Indian Constellation works as the Indian version of GPS.
• It was first approved in 2006 but became operational only in 2018.
• Presently, it consists of 08 satellites, that cover the whole of India and up to 1,500 km from its boundaries.

Additional Information

• ​​Indian Space Research Organisation:
• Founded: 1969
• Headquarters: Bengaluru
• Founder: Vikram Sarabhai
• President (current): S Somanath

The correct answer is Only D. 

Key Points

• ​The Global Innovation Index 2022 rankings released by World Intellectual Property Organization. Hence, statement A is incorrect.
• In 2022, India was ranked 40^th position out of 132 countries. Hence, statement B is incorrect.
• Switzerland is the most innovative economy in the world in 2022 ranked 01^st on the list. Hence, statement C is incorrect.
• India and Turkiye enter the top 40 for the first time as innovation leaders. Hence, statement D is correct.

Additional Information

• World Intellectual Property Organization published the Global Innovation Index ranking the countries and their economies through innovational measures, environments, and outputs.
• It was first published in 2007 by INSEAD and World Business, a British magazine until 2020. In 2021 it was published by the World Intellectual Property Organization.
• ​The theme for 2022 is What is the future of innovation-driven growth?
• In 2021 India was ranked 46^th on the list.
• Consecutively, Switzerland has ranked first from 2011 up to 2022.
• South Korea is the only Asian country holding the 06^th position in the top 10 in 2022.

Important Points

• ​World Intellectual Property Organization (WIPO):
• Founded: 14 July 1967
• Headquarters: Geneva, Switzerland
• Director General: Daren Tang;

The correct answer is Research on banks and financial crises.

Key Points

• Ben S Bernanke, Douglas W Diamond, and Philip H Dybvig have won the Nobel Economics Science Prize for Research on banks and financial crises.
• Their research analyses have been of great practical importance in regulating financial markets and dealing with financial crises.
• Ben S. Bernanke was the former chair of the U.S. Federal Reserve.
• Amartya Sen was awarded the Nobel Economics Prize in 1998.

Additional Information

• In 1901 the first Nobel Prizes were awarded.
• Originally, Nobel Prize has been given in Physics, Chemistry, Physiology or Medicine, Literature, and Peace.
• Later Nobel Prize for Economics Sciences was instituted in 1968 and was first awarded in 1969.
• The Nobel Prize is given in the name of Alfred Nobel, a Swedish scientist.
• The Nobel Prizes in Physics, Chemistry, Medicine, and Literature are awarded in Stockholm, Sweden.
• While the Nobel Peace Prize is awarded in Oslo, Norway.
• The Nobel Prize is presented every year on 10^th December.

The correct answer is 2022.

Key Points

• The PCA Framework for Non-Banking Financial Companies came into effect in 2022.
• The Reserve Bank of India has introduced the prompt corrective action framework for non-banking financial companies (NBFCs).
• Its goal is to address the issue of non-performing assets in India's banking system.
• Based on the recommendations of the Financial Stability and Development Council's working group on Resolution Regimes for Financial Institutions in India and the Financial Sector Legislative Reforms Commission, the framework was reviewed in 2017.
• The Capital Adequacy Ratio, known as the capital-to-risk-weighted-assets ratio, is used to protect depositors and promote financial system stability and efficiency around the world.

The correct answer is R Gandhi.

Key Points

• Former RBI Deputy Governor R Gandhi has been appointed as part-time chairman of Yes Bank.
• RBI has approved his appointment as the Non-Executive (Parttime) Chairman of the Bank for a period of 3 years effective from September 20, 2022.
• Gandhi is currently a financial sector policy expert and adviser.
• He was a Deputy Governor of the RBI for three years from 2014 to 2017.

Additional Information

• The Reserve Bank of India, chiefly known as RBI, is India's central bank and regulatory body responsible for the regulation of the Indian banking system.
• It is under the ownership of the Ministry of Finance, Government of India.
• It is responsible for the control, issue, and maintaining the supply of the Indian rupee.
• Founded: 1 April 1935, Kolkata
• Ownership: Ministry of Finance, Government of India
• Governor: Shaktikanta Das

The solution is Rs 10 crore.

Key Points

• GST-registered businesses with an annual turnover of Rs 10 crore or more will have to generate e-invoices for B2B transactions from October 1, the finance ministry said. Currently, businesses with a turnover of Rs 20 crore and above are required to generate an electronic invoice for all B2B transactions.
• The Central Board of Indirect Taxes and Customs (CBIC) on August 1 notified lowering the e-invoice threshold to Rs 10 crore and above from October 1. The GST Council, comprising finance mini

The correct answer is 420 kilometers.

Key Points

• A SpaceX rocket soared into orbit from Florida carrying the next long-term International Space Station crew, with a Russian cosmonaut, two Americans and a Japanese astronaut flying together in a demonstration of US-Russian teamwork in space despite Ukraine war tensions.

About The Crew Members:

• SpaceX Crew5 astronauts, Russian cosmonaut Anna Kikina, NASA astronaut Josh Cassada, NASA astronaut Nicole Mann and Japan Aerospace Exploration Agency astronaut Koichi Wakata pose for a photo as they leave the Operations and Checkout building before heading to Launch Pad 39-A at the Kennedy Space Center in Cape Canaveral, for a mission to the International Space Station.

The ISS Mission:

• The mission, designated Crew-5, marks the fifth full-fledged ISS crew NASA has flown aboard a SpaceX vehicle since the private rocket venture founded by Tesla CEO Elon Musk began sending US astronauts aloft in May 2020. The SpaceX launch vehicle, consisting of a Falcon 9 rocket topped with a Crew Dragon capsule dubbed Endurance, lifted off into clear skies at noon from NASA’s Kennedy Space Center in Cape Canaveral. The two-stage, 23-story-tall Falcon 9 ascended from the launch tower as its nine Merlin engines roared to life in billowing clouds of vapor and a reddish-orange fireball.

The Russian Cosmonaut:

• The mission is notable for the inclusion of Anna Kikina, 38, the lone female cosmonaut on active duty with Roscosmos, making it the first spaceflight with a Russian launched from US soil in two decades. As the spacecraft entered Earth’s orbit, Kikina radioed her thanks to NASA, Roscosmos and their International Space Station partners for “giving us this great opportunity.”

About The International Space Station(ISS):

• ISS, the length of a football field, has been continuously occupied since 2000, operated by a U.S.-Russian-led consortium that includes Canada, Japan and 11 European countries. It was born in part to improve relations between Washington and Moscow following the Soviet Union’s collapse and the end of Cold War rivalries that spurred the original American-Soviet space race.

The correct answer is July 2022.

In News

• The government should scrap the windfall profit tax on domestically-produced crude oil as the levy is adversely impacting the capex-intensive exploration of oil and gas, FICCI said in its recommendation for the forthcoming annual budget.

Key Points

• India first imposed windfall profit taxes on 01 July 2022, joining a growing number of nations that tax super normal profits of energy companies.
• At that time, a ₹23,250 per tonne ($40 per barrel) windfall profit tax on domestic crude production was levied.
• The new tax, which was also slapped on the export of petrol, diesel and ATF, is calibrated every fortnight in step with international oil prices.
• Industry chamber FICCI in its recommendations for the Budget, said such levy is in addition to all other existing levies.
• It is recommended that the Special Additional Excise Duty (SAED) on petroleum crude should be removed or if there is a need to continue the levy for some time as an extraordinary measure then the rate be changed to an ad-valorem levy of 20% of incremental crude price over $100.
• IT also said that the windfall tax was over and above the heavy burden of royalty (20% of oil price for onshore fields and 10% for offshore areas) and oil industry development (OID) cess (20% of oil price).

Additional Information

• A windfall tax is a higher tax rate on profits that ensue from a sudden windfall gain to a particular company or industry.
• There have been windfall taxes in various countries across the world, including Mongolia, Australia, and on wind power in Turkey.
• Federation of Indian Chambers of Commerce & Industry (FICCI):
• ​It was established in 1927, on the advice of Mahatma Gandhi by Indian businessman G.D. Birla and Purshottamdas Thakurdas.
• It is the largest, one of the oldest and the apex business organisation in India.
• It is a non-government, not-for-profit organisation.
• Headquarters: New Delhi
• FICCI President: Sanjiv Mehta

The correct answer is ‘Rs 660’

 

Key Points

 

• Union Labour and Employment Minister Bhupender Yadav launched the ‘Donate-a-Pension’ programme under Pradhan Mantri Shram Yogi Maan-Dhan (PM-SYM) for people to contribute to the pension fund of their support staff.
• The Minister launched the ‘Donate-a-Pension’ programme at my residence by donating to the gardener.
• It is an initiative under (PM-SYM) pension scheme where citizens can donate the premium contribution of their immediate support staff such as domestic workers, drivers, helpers etc. Under PM-SYM, Workers of the unorganised sector in the age group of 18-40 years can register themselves.
• The beneficiary has to deposit a minimum of Rs 660 to 2400 every year depending on their age. After attaining the age of 60 years they will receive the minimum assured pension of Rs 3,000 per month.
• The ‘Donate-a-Pension’ programme which was launched today is part of many initiatives by the Labour Ministry to be launched in the ‘Iconic Week’ being celebrated by the Ministry from March 7 to 13.
• These activities include celebrating 25 crore registrations under e-SHRAM, launching e-SHRAM on the UMANG app across India.

The correct answer is 250 billion.

Key Points

• India can achieve exports target of $650 billion in the current financial year, the Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles, Piyush Goyal.
• Chairing a review meeting of all major Export Promotion Councils (EPCs), Goyal said the $400 billion target of merchandise exports is within sight and the services sector should strive for $250 billion exports, during various FTA negotiations.
• The country has already achieved $300 billion merchandise exports in the first nine months of the financial year and expressed hope that the country can set a much higher target in the last quarter of FY22.

The correct answer is Mikhail Gorbachev.

Key Points

• The former Soviet leader Mikhail Gorbachev passed away in August 2022.
• Mr. Gorbachev became general secretary of the Soviet Communist Party and de facto leader of the country in 1985.
• At the time, he was the youngest member of the ruling council known as the Politburo.
• He won the Nobel Peace Prize for negotiating a historic nuclear arms pact with US leader Ronald Reagan.

Additional Information

• It is the largest country in the world by area.
• It is encompassing one-eighth of Earth's inhabitable landmass.
• Russia extends across eleven time zones and borders sixteen sovereign nations.
• Russia:
• President: Vladimir Putin
• Capital: Moscow
• Currency: Russian ruble
• Prime minister: Mikhail Mishustin
• Continent: Europe, Asia