Banking Awareness PYQs

The correct answer is Uttar Pradesh.

In News

• Uttar Pradesh has the most centrally protected monuments or sites in India, with 743 sites, according to the Press Information Bureau.

Key Points

• Uttar Pradesh tops India with the most centrally protected monuments, with 743 sites managed by the Archaeological Survey of India (ASI).
• Karnataka leads South India with 506 ASI-protected monuments, while Tamil Nadu follows with 412.
• Maharashtra has the highest number of UNESCO World Heritage Sites in India, distinct from ASI-protected monuments.

Additional Information

• Archaeological Survey of India (ASI)
• The ASI is responsible for preserving and managing India's historic sites and monuments.
• It manages many sites, including those that are of national importance, to protect India's cultural heritage.
• UNESCO World Heritage Sites
• These sites are globally recognized for their universal value and are protected internationally.
• Maharashtra leads India in the number of such sites, which are separate from ASI-protected monuments.

The correct answer is Cambodia.

In News

• The military exercise CINBAX is conducted between India and Cambodia, focusing on planning and counter-terrorism operations.

Key Points

• CINBAX is a bilateral army exercise between India and Cambodia aimed at improving counter-terrorism operations and military cooperation.
• The first edition of CINBAX took place in December 2024 in Pune, India.
• The exercise focuses on planning and joint counter-terrorism operations between the two nations' military forces.

Additional Information

• India-Cambodia Relations
• India and Cambodia have strengthened their defense and military cooperation through joint exercises like CINBAX.
• These exercises enhance bilateral ties and focus on counter-terrorism and regional security issues.
• Military Exercises in India
• India regularly conducts military exercises with several countries to strengthen defense relations and share counter-terrorism techniques.

The correct answer is Rs. 1 lakh.

In News

• Each Women SHG under the Namo Drone Didi scheme is expected to earn an additional income of Rs. 1 lakh per year.

Key Points

• The Namo Drone Didi scheme provides drone technology to Women SHGs to offer agricultural services like pesticide and fertilizer application.
• The expected additional income for each Women SHG is Rs. 1 lakh per year through the rental services they provide to farmers.
• The scheme also offers training in drone technology, empowering women with advanced skills in modern agriculture.
• Women SHGs are provided with 80% subsidy on the cost of drones, with an easy loan facility for the remaining cost.

Additional Information

• Namo Drone Didi Scheme
• Provides subsidies and loans to Women SHGs to purchase drones for agricultural services.
• Training in drone technology is provided to enhance agricultural efficiency, reducing the use of chemicals and minimizing environmental impact.
• Empowerment of Women in Agriculture
• The scheme empowers women with essential skills in drone technology, contributing to their economic and social empowerment.

The correct answer is Commercial mining.

In News

• Commercial mining is prohibited in Eco-Sensitive Zones (ESZs) as part of efforts to protect the environment and preserve biodiversity.

Key Points

• Commercial mining is prohibited in ESZs to prevent environmental degradation and preserve the fragile ecosystem around protected areas.
• Permitted activities include ongoing agricultural practices, organic farming, rainwater harvesting, and use of renewable energy sources.
• The aim of ESZs is to minimize the impact of human activities on national parks and wildlife sanctuaries while allowing for sustainable practices.

Additional Information

• Eco-Sensitive Zones (ESZs)
• ESZs are designated around protected areas to reduce the impact of surrounding development and preserve the natural environment.
• Activities like commercial mining, saw mills, and industrial pollution are prohibited in ESZs.
• Significance of ESZs
• They minimize forest depletion, man-animal conflict, and negative impacts on fragile ecosystems.
• ESZs play a role in in-situ conservation and help preserve biodiversity in and around protected areas.

The correct answer is 1, 2 and 3 are correct.

In News

• Reliance Industries Limited (RIL) advanced to the 86^th position in the 2024 Fortune Global 500 list, a significant climb from its previous position of 88^th in 2023.

Key Points

• Statement 1 is correct: RIL secured the 86^th position in the 2024 Fortune Global 500 list, advancing two places from its position last year.
• Statement 2 is correct: RIL has climbed 69 places from its 155^th position in 2021 to its current 86^th position in 2024.
• Statement 3 is correct: RIL's total revenue for FY24 is Rs 10,00,122 crore, with a 16.1% increase in EBITDA year-on-year.

Additional Information

• Reliance Industries Limited (RIL)
• RIL is the highest-ranked Indian corporation in the Fortune Global 500 list for the 21^st consecutive year.
• The company's strategic growth across multiple sectors, including Oil to Chemicals, Oil & Gas, Retail, and Digital Services, has contributed significantly to its rise in rankings.
• Fortune Global 500 List
• The Fortune Global 500 list ranks companies based on their total revenue, with the 2023 aggregate revenue reaching a record $41 trillion.
• Reliance Industries is among the nine Indian companies featured in the 2024 list, underscoring India's growing presence in global business$.

The correct answer is 4 years.

In News

• The tenure of a Local Board Director in the Reserve Bank of India (RBI) is four years.

Key Points

• The term of a Local Board Director is set at four years as per the RBI Act.
• Local Board Directors are eligible for reappointment after their initial four-year term, with a maximum of two terms allowed.
• They are appointed by the Central Government and represent various territorial, economic, and banking interests.
• Local Boards advise the Central Board and perform delegated functions across four geographical areas: Western, Eastern, Northern, and Southern India.

Additional Information

• RBI Act and Local Board Directors
• Local Board Directors serve to represent specific regions and economic interests within the RBI's organizational structure.
• Their term limits and reappointment rules ensure balanced representation and governance within the RBI.
• RBI's Advisory Role
• Local Boards provide important advice on various economic and banking matters to the Central Board of the RBI.

The correct answer is Metropolitan.

In News

• The "M" in MSE stands for "Metropolitan," referring to the Metropolitan Stock Exchange of India.

Key Points

• MSE stands for Metropolitan Stock Exchange of India, a recognized stock exchange in India.
• It is recognized by SEBI and is regulated under the Securities Contracts (Regulation) Act, 1956.
• MSE offers trading in Capital Markets, Futures & Options, Currency Derivatives, and Debt Markets.
• It also provides a platform for SME trading, with an in-principle approval from SEBI.

Additional Information

• Metropolitan Stock Exchange of India (MSE)
• Launched in 2008, the exchange provides a hi-tech platform for trading in various market segments.
• The MSE launched the SX40 index, a benchmark index representing large-cap stocks from diverse sectors.
• Securities and Exchange Board of India (SEBI)
• SEBI regulates the functioning of stock exchanges and other capital market participants in India.

The correct answer is December 31, 2026.

In News

• The deadline for implementing the 30% market share cap on third-party UPI apps like PhonePe and Google Pay has been extended to December 31, 2026.

Key Points

• The deadline for implementing the 30% market share cap on third-party UPI apps has been extended to December 31, 2026, as per the National Payments Corporation of India (NPCI).
• The extension provides more time for major third-party apps like PhonePe and Google Pay to comply with the cap.
• This cap was introduced by the NPCI to address concentration risks and foster healthy competition within the UPI ecosystem.
• Third-party UPI apps exceeding the cap may need to stop onboarding new customers to comply with the new guidelines.

Additional Information

• National Payments Corporation of India (NPCI)
• NPCI is responsible for managing the UPI ecosystem in India and ensuring its efficient functioning.
• It introduced the market share cap to avoid over-dependence on major players like PhonePe and Google Pay.
• Third-Party UPI Apps
• Third-party apps like PhonePe, Google Pay, and Paytm have become integral in driving UPI adoption in India.
• These apps handle a significant share of UPI transactions and are subject to new regulations to ensure a competitive ecosystem.

The correct answer is 7.

In News

• UPI (Unified Payments Interface) is operational and accepted for payments in seven countries.

Key Points

• UPI is operational in seven countries: Bhutan, France, Mauritius, Nepal, Singapore, Sri Lanka, and the United Arab Emirates (UAE).
• UPI allows NRIs from various countries to make INR transactions in India.
• UPI is widely regarded as a revolutionary payment system for its ease of use and accessibility.
• The countries where UPI is accepted have started to embrace digital payments, enhancing cross-border transactions.

Additional Information

• UPI (Unified Payments Interface)
• UPI is a real-time payment system that enables instant money transfers between bank accounts on a mobile platform.
• Developed by the National Payments Corporation of India (NPCI), UPI is rapidly expanding globally.
• Countries with UPI
• Bhutan, France, Mauritius, Nepal, Singapore, Sri Lanka, and the UAE are among the countries where UPI is accepted.
• UPI facilitates both cross-border remittances and payments in these countries.

The correct answer is Rs. 500.

In News

• The minimum deposit required to open a Post Office Savings Account is Rs. 500.

Key Points

• The minimum deposit to open a Post Office Savings Account is Rs. 500.
• The maximum amount that can be deposited in the account is unlimited, but there are limits for joint accounts (up to Rs. 2 lakh).
• There is no lock-in or maturity date for the Post Office Savings Account, making it an accessible and flexible option for depositors.
• The account offers an interest rate of 4.00% per annum, which is beneficial for individuals seeking a secure investment option.

Additional Information

• Post Office Savings Account
• Provides a guaranteed return on investment, making it suitable for senior citizens and risk-averse individuals.
• Interest earned is exempt from income tax under Section 80C of the Income Tax Act.
• How to Open a Post Office Savings Account
• Visit the nearest post office or the India Post website to get the application form.
• Submit required documents and a passport-sized photograph along with the deposit.

The correct answer is 1 and 3 only.

In News

• PMMVY provides cash incentives for pregnant women and lactating mothers to compensate for wage loss before and after childbirth.

Key Points

• Statement 1 is correct: PMMVY aims to provide partial wage compensation to pregnant women and lactating mothers before and after childbirth.
• Statement 2 is incorrect: Women who have had a miscarriage or stillbirth are eligible to re-register for any future pregnancies under PMMVY.
• Statement 3 is correct: The PMMVY benefit for the first child is provided in two instalments—₹3000 after the Ante-Natal Check-up and ₹2000 after childbirth and immunization.

Additional Information

• PMMVY Scheme
• PMMVY provides ₹5000 for the first child in two instalments and ₹6000 for the second child if it is a girl.
• The scheme covers women from marginalized and disadvantaged sections of society.
• Eligibility Criteria for PMMVY
• Eligible women include those with a BPL ration card, under Ayushman Bharat (PMJAY), or with a job card under MGNREGA.
• The age of the beneficiary should be between 18 years 7 months and 55 years at the time of childbirth.

The correct answer is Andhra Pradesh.

In News

• The Tri-Junction corridor is located in the state of Andhra Pradesh, and it is a key route for elephants migrating from Karnataka and Tamil Nadu into southern Andhra Pradesh.

Key Points

• The Tri-Junction corridor is a crucial migration path for elephants moving from Karnataka and Tamil Nadu into Andhra Pradesh.
• It is the sole passage for elephants dispersing from these two states into southern Andhra Pradesh.
• The corridor is specifically mentioned as being essential for elephant movement, connecting important habitats in these states.
• Elephant migration through this corridor plays a significant role in preserving biodiversity and maintaining wildlife ecosystems.

Additional Information

• Elephant Corridors in India
• Elephant corridors are vital for maintaining genetic diversity and enabling seasonal migration of elephants.
• India has several elephant corridors, including the Tri-Junction corridor in Andhra Pradesh.
• Elephant Conservation
• Conservation efforts are crucial for protecting elephants in India due to habitat fragmentation and poaching.
• Protected areas and corridors are essential for mitigating human-elephant conflicts.

The correct answer is Kerala.

In News

• Kerala is the largest producer of rubber in India, contributing over 90% of the country's total rubber production.

Key Points

• Kerala's ideal climate and extensive rubber plantations make it the leading state in rubber cultivation in India.
• Kerala's contribution to India's rubber production exceeds 90%, far surpassing the output of all other states combined.
• The state's favorable conditions, such as a warm and humid climate with abundant rainfall, are ideal for rubber cultivation.
• Other states contributing to India's rubber production include Tamil Nadu, Karnataka, Tripura, Assam, and Meghalaya.

Additional Information

• Rubber Cultivation
• Ideal climate for rubber cultivation includes warm temperatures and high humidity.
• Rubber trees require abundant rainfall throughout the year.
• Top Rubber Producing States
• Kerala leads the country in rubber production.
• Tamil Nadu and Karnataka are other major contributors to India's rubber output.

The correct answer is Bank of Maharashtra.

In News

• The Core Committee appointed by the Reserve Bank of India identified six core promoters for CCIL, which includes several banks.

Key Points

• The six core promoters for CCIL are State Bank of India, IDBI Bank Ltd, ICICI Bank Ltd, Bank of Baroda, HDFC Bank Ltd, and Life Insurance Corporation of India (LIC).
• LIC is a life insurance company, not a commercial bank, which makes it different from the other core promoters, who are all commercial banks.
• The company was incorporated with an authorized equity share capital of Rs. 50 Crores.
• The company has also authorized, subscribed, issued, and paid-up preference share capital of Rs 50 crores comprising 5 crore 8.5% redeemable non-convertible cumulative preference shares.

Additional Information

• State Bank of India (SBI)
• Founded in - 1955
• Headquarters - Mumbai, Maharashtra
• MD & CEO - Dinesh Kumar Khara
• IDBI Bank Ltd
• Founded in - 1964
• Headquarters - Mumbai, Maharashtra
• MD & CEO - Rakesh Sharma
• ICICI Bank Ltd
• Founded in - 1994
• Headquarters - Mumbai, Maharashtra
• MD & CEO - Sandeep Bakshi
• HDFC Bank Ltd
• Founded in - 1994
• Headquarters - Mumbai, Maharashtra
• MD & CEO - Sashidhar Jagdishan
• Bank of Baroda
• Founded in - 1908
• Headquarters - Vadodara, Gujarat
• MD & CEO - Sanjiv Chadha

The correct answer is World Intellectual Property Organization (WIPO).

In News

• The Lisbon System, administered by WIPO, protects appellations of origin (AOs) and geographical indications (GIs).

Key Points

• The Lisbon System is an international agreement focused on protecting the origins of products linked to a specific geographical area.
• It simplifies the registration process by offering a single international registration for multiple countries, rather than requiring separate national registrations.
• The system helps protect unique product characteristics, such as "Champagne" for sparkling wine from the Champagne region of France.
• The system is governed by the World Intellectual Property Organization (WIPO) and is legally established through the Lisbon Agreement and its Geneva Act.

Additional Information

• World Intellectual Property Organization (WIPO)
• Founded in - 1967
• Headquarters - Geneva, Switzerland
• Focuses on promoting the protection of intellectual property worldwide
• Lisbon Agreement
• Signed in 1958
• It provides the legal framework for the Lisbon System.
• Geographical Indications (GIs)
• GIs protect products that have a specific geographical origin and possess qualities or a reputation due to that origin.
• Examples: "Darjeeling tea," "Roquefort cheese."

The correct answer is Securities and Exchange Board of India (SEBI).

In News

• Securities and Exchange Board of India (SEBI) is the primary regulator for Venture Capital Funds (VCFs) in India.

Key Points

• Venture Capital Funds (VCFs) are now categorized under the SEBI (Alternative Investment Funds) Regulations, 2012, which replaced the earlier SEBI (Venture Capital Funds) Regulations, 1996.
• SEBI regulates the capital market in India, and venture capital funds fall under its jurisdiction as Alternative Investment Funds (AIFs).
• To operate in India, venture capital funds must be registered with SEBI as AIFs under the 2012 regulations.

Additional Information

• SEBI's Role
• SEBI oversees the functioning of various financial market intermediaries, including VCFs, and ensures their compliance with regulations to protect investors and promote market integrity.
• Venture Capital Funds
• Venture capital funds are an essential source of funding for startups and emerging companies, typically investing in high-risk, high-reward opportunities.

The correct answer is NMDC and Odisha Mining Corporation (OMC).

In News

• Tata Steel is partnering with state-run miners NMDC and Odisha Mining Corporation (OMC) to secure its future iron ore supply as it expands steel production capacity.

Key Points

• Tata Steel is actively engaging with NMDC and OMC to secure its long-term iron ore supply.
• The company plans to operationalize new iron ore mines, Kalamang West and Gandalpada, to meet its future iron ore needs.
• These partnerships are a key part of Tata Steel’s strategy to ensure a steady supply of iron ore as it works to increase steel production capacity from 22 MTPA to 40 MTPA by 2030.

Additional Information

• Tata Steel’s Strategy for Growth
• Tata Steel plans to produce over 60 million tonnes of iron ore annually to meet its production needs as it aims to increase its steel production capacity by 2030.
• NMDC and OMC
• NMDC and OMC are state-run enterprises in India that supply iron ore, playing a crucial role in Tata Steel’s iron ore procurement strategy.

The correct answer is 20.85%.

In News

• The Government of India holds the largest share in SIDBI, with a 20.85% stake as of March 31, 2024.

Key Points

• The Government of India is the largest shareholder in SIDBI, holding 20.85% of its shares.
• State Bank of India (SBI) holds 15.65%, and the Life Insurance Corporation of India (LIC) owns 13.33% of SIDBI's shares.
• Other Public Sector Banks (PSBs) and institutions hold the remaining shares in SIDBI.

Additional Information

• SIDBI Overview
• The Small Industries Development Bank of India (SIDBI) is a key financial institution aimed at supporting the growth of micro, small, and medium enterprises (MSMEs) in India.
• Government’s Role in SIDBI
• The Government of India’s large shareholding reflects its strong involvement in the development and support of MSMEs in the country through SIDBI.

The correct answer is Thiruvananthapuram.

In News

• The National Centre for Earth Science Studies (NCESS) is headquartered in Thiruvananthapuram, Kerala, India.

Key Points

• NCESS is an autonomous research center under the Ministry of Earth Sciences (MoES), focusing on the evolution of the Earth.
• It is located in Thiruvananthapuram, Kerala, which is the hub of earth science research in India.
• The research center plays a key role in studying the Earth’s processes and contributing to environmental conservation and sustainability.

Additional Information

• Role of NCESS
• NCESS focuses on scientific research in the field of Earth sciences, specifically in the areas of geology, oceanography, and environmental science.
• Ministry of Earth Sciences
• The Ministry of Earth Sciences (MoES) is responsible for promoting and managing research in Earth science disciplines and coordinating activities in related fields.

The correct answer is Rice.

In News

• Rice is not included under the Shree Anna scheme, which focuses on millets such as Jowar, Bajra, Ragi, and Kodo.

Key Points

• Shree Anna refers to millets, such as Jowar, Bajra, Ragi, Kodo, Sama, and others, which are rich in nutrients and have various health benefits.
• Rice is a staple grain but is not part of the Shree Anna scheme, which focuses on coarse grains, also known as millets.
• Millets, including those in the Shree Anna scheme, are promoted for their health benefits, especially for diseases like diabetes, heart problems, and bone health.

Additional Information

• Shree Anna and Its Health Benefits
• Millets, under the Shree Anna scheme, are rich in nutrients like protein, fiber, and essential vitamins and minerals.
• They are considered superfoods, especially for their benefits in preventing and managing chronic conditions like diabetes and heart disease.
• Promotion and Export of Shree Anna
• India is the largest producer and second-largest exporter of millets, aiming to make the country a global center for millet production and consumption.