Banking Awareness PYQs

The correct answer is Indonesia.

In News

• On January 6, 2025, Brazil, as the BRICS chair for 2025, announced that Indonesia has joined BRICS as its 10^th full member.
• Indonesia, the world's fourth-most populous nation, joins BRICS to enhance its role in global economic and political cooperation.
• Brazil's presidency theme for 2025 is “Enhancing Global South Cooperation for a More Inclusive and Sustainable Governance.”

Key Points

• Indonesia officially became the 10^th full member of BRICS on January 6, 2025.
• Brazil, the BRICS chair for 2025, made the announcement.
• Indonesia’s inclusion aligns with BRICS' objective of strengthening cooperation among developing nations.
• BRICS (Brazil, Russia, India, China, South Africa) is expanding to include more emerging economies.

Additional Information

• BRICS (Brazil, Russia, India, China, South Africa)
• Founded in 2009 as BRIC; South Africa joined in 2010.
• Represents major emerging economies.
• Focuses on economic cooperation, trade, and polit

The correct answer is Faiz Ahmed Kidwai.

In News

• On January 3, 2025, the Appointments Committee of the Cabinet (ACC) appointed Faiz Ahmed Kidwai, a 1996-batch Indian Administrative Service (IAS) officer from the Madhya Pradesh (MP) cadre, as the Director General (DG) of the Directorate General of Civil Aviation (DGCA).

Key Points

• Faiz Ahmed Kidwai has been appointed as the Director General (DG) of DGCA under the Ministry of Civil Aviation (MoCA).
• He is a 1996-batch IAS officer from the Madhya Pradesh cadre.
• He succeeded Vikram Dev Dutt, a 1993-batch IAS officer, who was appointed as the Secretary in the Ministry of Coal (MoC) in October 2024.
• Since Vikram Dev Dutt’s appointment, Dinesh Chand Sharma, Joint DG of DGCA, held the additional charge of DG.
• The appointment is part of a senior-level bureaucratic reshuffle by the Government of India.

Additional Information

• Directorate General of Civil Aviation (DGCA)
• The regulatory body for civil aviation in India under the Ministry of Civil Aviation (MoCA).
• Responsible for air safety, aviation regulations, and licensing of pilots and aircraft maintenance personnel.
• Faiz Ahmed Kidwai
• A 1996-batch IAS officer from the Madhya Pradesh cadre.
• Appointed as the Director General of DGCA effective from January 3, 2025.
• Vikram Dev Dutt
• Former DG of DGCA, now serving as the Secretary in the Ministry of Coal (MoC) since October 2024.
• Dinesh Chand Sharma
• Held the additional charge of DG of DGCA after Vikram Dev Dutt’s appointment in the Ministry of Coal.
• Served as the Joint DG of DGCA prior to Faiz Ahmed Kidwai’s appointment.
• Appointments Committee of the Cabinet (ACC)
• Responsible for the appointment of key bureaucratic positions in the Government of India.
• Chaired by the Prime Minister of India with key ministers as members.

The correct answer is Only 1 and 2 .

In News

• India became the world’s 7^th largest coffee-producing country in FY24, with exports reaching USD 1.29 billion.
• Italy, Belgium, and Russia were revealed as top buyers of Indian coffee in January 2025.

Key Points

• India’s coffee production is concentrated in the ecologically rich Western and Eastern Ghats.
• Karnataka is the leading coffee-producing state, contributing 2,48,020 Metric Tonnes (MT) in 2022-23, followed by Kerala and Tamil Nadu.
• Indian coffee is renowned globally, boosting its demand in international markets.

Additional Information

• Coffee Production Highlights
• India achieved significant growth in coffee exports, rising from USD 719.42 million in FY21 to USD 1.29 billion in FY24.
• The Western and Eastern Ghats offer ideal conditions for growing high-quality coffee.
• Major Importers of Indian Coffee
• Italy, Belgium, and Russia are key consumers of Indian coffee.
• Leading Coffee-Producing States
• Karnataka ranks first, followed by Kerala and Tamil Nadu in terms of production in 2022-23.

The correct answer is Saljhandi, Nepal.

In News

• The 18^th edition of the Battalion Level Joint Military Exercise ‘Surya Kiran’ commenced in Saljhandi, Nepal.
• The exercise is scheduled to be conducted from 31^st December 2024 to 13^th January 2025.
• ‘Surya Kiran’ aims to strengthen India-Nepal defence cooperation and enhance the professional skills of Indian Army (IA) and Nepal Army (NA) personnel.

Key Points

• The 18^th edition of the India-Nepal military exercise ‘Surya Kiran’ is being held in Saljhandi, Nepal.
• The exercise runs from 31^st December 2024 to 13^th January 2025.
• ‘Surya Kiran’ is a bilateral exercise focused on counter-insurgency, disaster relief, and humanitarian assistance.
• The previous (17^th) edition was held in Pithoragarh, Uttarakhand, India, from 24^th November to 7^th December 2023.

Additional Information

• India-Nepal Military Exercise ‘Surya Kiran’
• Held annually in India and Nepal on a rotational basis.
• Focuses on counter-terrorism operations, disaster relief, and joint military training.
• Nepal Army (NA)
• Founded in - 1762
• Headquarters - Kathmandu, Nepal
• Commander-in-Chief - General Prabhu Ram Sharma
• Indian Army (IA)
• Founded in - 1895
• Headquarters - New Delhi, India
• Chief of Army Staff (COAS) - Upendra Dwivedi

The correct answer is Pushpak Bhattacharya.

In News

• In December 2024, the Reserve Bank of India (RBI) constituted an 8-member committee to create a framework for the ethical and responsible use of Artificial Intelligence (AI) in the financial sector.

Key Points

• The committee is officially named the Framework for Responsible and Ethical Enablement of AI (FREE-AI).
• It consists of 8 members, including experts from academia and industry.
• The committee is chaired by Pushpak Bhattacharya, a professor from the Department of Computer Science and Engineering at IIT Bombay, Mumbai.
• The initiative reflects RBI’s focus on governance, transparency, and ethical concerns in the use of AI technologies in the financial ecosystem.

Additional Information

• Artificial Intelligence in Finance
• AI is used for fraud detection, risk assessment, algorithmic trading, and customer service.
• Raises concerns around data privacy, algorithmic bias, and accountability.
• Pushpak Bhattacharya
• Professor at IIT Bombay’s Department of Computer Science and Engineering
• Expert in Natural Language Processing and Artificial Intelligence
• RBI’s Role in AI Governance
• Focuses on building a secure, transparent, and ethical AI framework in finance
• Encourages regulated entities to adopt AI responsibly
• FREE-AI Framework
• Aims to define principles and policies for AI adoption in financial services
• Will address fairness, privacy, security, and explainability of AI systems

The correct answer is 18 to 70 years.

In News

• Prime Minister Narendra Modi is set to launch LIC's Bima Sakhi Yojana and lay the foundation stone of Maharana Pratap Horticultural University in Haryana.

Key Points

• The Bima Sakhi Yojana targets women aged 18 to 70 years who have passed Class X.
• The program aims to provide financial literacy and insurance awareness training.
• Participants will receive a stipend during a three-year training period.
• Trained participants can work as LIC agents and may qualify for Development Officer roles.

Additional Information

• Bima Sakhi Yojana: An initiative by LIC aimed at empowering women through skill development and employment opportunities.
• Eligibility: Women aged 18 to 70 years with a minimum education of Class X are eligible for this program.
• Horticultural University: Maharana Pratap Horticultural University will focus on crop diversification and advanced research in horticulture.
• LIC: India’s largest life insurer, actively promoting community empowerment and financial inclusion through such initiatives.

The correct answer is 1 and 3 only.

In News

• On January 2, 2025, the Ministry of Youth Affairs and Sports (MYAS) announced the recipients of the National Sports Awards 2024.
• The awards will be conferred on 47 sportspersons, coaches, entities, and universities under 6 categories on 17^th January 2025 by the President of India, Droupadi Murmu at Rashtrapati Bhavan, New Delhi.
• The selection committee was headed by Justice (Retd.) V Ramasubramanian of the Supreme Court, along with eminent sports persons, sports journalists, and sports administrators.

Key Points

• The National Sports Awards 2024 will recognize outstanding achievements in sports and will be presented on 17^th January 2025.
• The awards will be conferred by the President of India, Droupadi Murmu, not the Prime Minister as incorrectly mentioned in statement 2.
• The selection committee was chaired by Justice (Retd.) V Ramasubramanian of the Supreme Court of India.

Additional Information

• Major Dhyan Chand Khel Ratna Award 2024 Recipients
• Gukesh D - Chess
• Harmanpreet Singh - Hockey
• Praveen Kumar - Para-Athletics
• Manu Bhaker - Shooting
• National Sports Awards Categories
• Major Dhyan Chand Khel Ratna Award
• Arjuna Award
• Dronacharya Award
• Dhyan Chand Award for Lifetime Achievement
• Maulana Abul Kalam Azad (MAKA) Trophy
• Rashtriya Khel Protsahan Puruskar
• Role of the Ministry of Youth Affairs and Sports (MYAS)
• Responsible for promoting sports development and excellence across India.
• Organizes the National Sports Awards annually to recognize outstanding achievements in sports.
• Significance of the National Sports Awards
• Encourages sportsmanship and motivates athletes to achieve excellence.
• Recognizes contributions from coaches, sportspersons, and institutions.

The correct answer is Only 1 and 2.

In News

• On January 27, 2025, the Reserve Bank of India (RBI) announced liquidity measures to inject Rs 1.5 lakh crore into the banking system.
• This move addresses liquidity deficit due to dollar selling operations aimed at stabilizing the Indian Rupee.

Key Points

• RBI will purchase Government Securities (G-secs) through Open Market Operations (OMO) worth Rs 60,000 crore.
• The purchases will occur in three tranches of Rs 20,000 crore each.
• A 56-day Variable Rate Repo (VRR) auction of Rs 50,000 crore is scheduled on February 7, 2025.
• The total liquidity infusion aims to address shortfall and maintain banking sector stability.

Additional Information

• Open Market Operations (OMO)
• Refers to the RBI buying/selling government securities to control liquidity
• Purchases inject liquidity; sales absorb it
• Variable Rate Repo (VRR)
• A tool used to manage short-term liquidity in the banking system
• Allows banks to borrow funds at variable interest rates
• Liquidity Management
• Essential to ensure sufficient funds in the banking system
• Helps control inflation, interest rates, and support credit flow

The correct answer is Ministry of Defence.

In News

• On January 1, 2025, the Ministry of Defence (MoD) declared 2025 as the "Year of Reforms" with the objective of transforming the tri-services into a technologically advanced, combat-ready force capable of multi-domain integrated operations.

Key Points

• The decision was unanimously taken during a meeting chaired by Defence Minister Rajnath Singh, reviewing various schemes, projects, and reforms.
• The MoD has set a target to achieve defence exports worth Rs 50,000 crore by 2029, significantly higher than the Rs 21,000 crore achieved in the Financial Year 2023-24.
• The reforms aim to establish integrated theatre commands to enhance tri-service synergy and operational efficiency.
• Focus areas include modernization of the armed forces, streamlining procurement processes, and developing capabilities in cyber and space domains.

Additional Information

• Integrated Theatre Commands
• These are unified commands combining resources of the Army, Navy, and Air Force to enhance jointness and operational effectiveness.
• The establishment of such commands is a key component of the ongoing military reforms.
• Defence Export Targets
• India's defence exports have seen a significant rise, reaching Rs 21,000 crore in FY 2023-24.
• The MoD aims to further increase exports to Rs 50,000 crore by 2029, promoting self-reliance and positioning India as a global defence exporter.
• Modernization Initiatives
• Emphasis on adopting advanced technologies such as artificial intelligence, machine learning, hypersonics, and robotics.
• Streamlining defence acquisition procedures to ensure timely procurement of state-of-the-art equipment.
• Focus on Cyber and Space Domains
• Recognizing the evolving nature of warfare, the reforms include developing robust capabilities in cyber and space operations.
• Establishing dedicated agencies and frameworks to address threats and challenges in these domains.

The correct answer is West Bengal.

Key Points

• West Bengal has a rich history in football and has been a dominant force in the Santosh Trophy, India's premier state-level football competition.
• The state has produced numerous talented footballers who have represented both the state and the country at various levels.
• West Bengal's football culture is deeply rooted, with significant contributions from renowned clubs like Mohun Bagan, East Bengal, and Mohammedan Sporting.
• The state has multiple stadiums and training facilities that support the growth and development of football talent.
• Winning the Santosh Trophy in 2025 further solidifies West Bengal's status as a powerhouse in Indian football.

Additional Information

• Kerala
• Kerala is another state with a strong football culture and has won the Santosh Trophy multiple times in the past.
• Known for its passionate football fans and well-established football clubs.
• Tamil Nadu
• While not as dominant as West Bengal or Kerala, Tamil Nadu has been steadily improving its football infrastructure and player development.
• Hosts various state-level football leagues and tournaments to nurture local talent.
• Punjab
• Punjab has a rich football history and has also won the Santosh Trophy several times.
• Known for producing physically strong and technically skilled players.
• Goa
• Goa is famous for its football fervor and has a vibrant football scene with clubs like FC Goa participating in the Indian Super League (ISL).
• Has a well-developed grassroots football program to identify and nurture young talent.

The correct answer is Kerala and Uttarakhand.

Key Points

• Kerala and Uttarakhand achieved scores higher than 80 in eight Sustainable Development Goals (SDG) in 2025.
• SDGs are a collection of 17 global goals set by the United Nations General Assembly in 2015 for the year 2030, aiming to achieve a better and more sustainable future for all.
• Kerala has consistently performed well in various social indicators such as health, education, and gender equality, contributing to its high SDG scores.
• Uttarakhand has made significant strides in achieving targets related to clean water and sanitation, affordable and clean energy, and climate action, leading to its strong performance in the SDG index.
• The achievement reflects the effective implementation of state policies and programs targeted at sustainable development in both states.

Additional Information

• Tamil Nadu
• Located in southern India.
• Known for its rich cultural heritage and strong emphasis on education and healthcare.
• Gujarat
• Located on the western coast of India.
• Famous for its economic growth and industrialization.
• Maharashtra
• India's second-most populous state and third-largest by area.
• Home to Mumbai, the financial capital of India.
• Punjab
• Located in the northern part of India.
• Known for its agricultural productivity.
• Haryana
• Located in northern India, surrounding the national capital, Delhi, on three sides.
• Known for its rapid industrialization and urbanization.

The correct answer is 16^th January 2025

In News

• Lokpal Day was celebrated annually on January 16, marking the establishment of the Lokpal of India on January 16, 2014.

Key Points

• The first Lokpal Day celebration was observed on January 16, 2025, at the Zorawar Auditorium, Manekshaw Centre, Delhi Cantt, New Delhi.
• Hon’ble Chief Justice of India Shri Justice Sanjiv Khanna presided as the Chief Guest.
• Shri Justice A. M. Khanwilkar, the second Chairperson of Lokpal, and six other members currently constitute the Lokpal.

Additional Information

• Lokpal
• Establishment: The Lokpal was established under the Lokpal and Lokayuktas Act, 2013 to investigate and address corruption allegations against public officials.
• Jurisdiction: The jurisdiction of the Lokpal includes the Prime Minister, Ministers, Members of Parliament, officers of Group A, B, C, D, and Central Government officials.
• Structure:
• The Lokpal consists of a Chairperson and a maximum of 8 members.
• Out of the 8 members, 4 judicial members and 4 non-judicial members are appointed.
• The members are appointed by the President based on recommendations from a selection committee.
• Selection Committee: The selection committee comprises:
• Prime Minister
• Speaker of the Lok Sabha
• Leader of Opposition in the Lok Sabha
• Chief Justice of India or a nominated judge
• A distinguished jurist.
• Tenure: The tenure of the Lokpal Chairperson and members is 5 years or until they reach the age of 70 years, whichever comes first

The correct answer is BAANKNET.

In News

• Nagaraju Maddirala, Secretary of the Department of Financial Services (DFS), launched the revamped e-auction portal ‘Bank Asset Auction Network (BAANKNET)’ on January 3, 2025, in New Delhi.

Key Points

• The e-auction portal is named Bank Asset Auction Network (BAANKNET), launched to streamline property auctions for Public Sector Banks (PSBs).
• The portal was officially launched on January 3, 2025, in New Delhi.
• It serves as a one-stop destination for buyers and investors, enabling them to explore assets and participate in property e-auctions easily.
• Training sessions were conducted for PSB executives and Debt Recovery Tribunal (DRT) recovery officers to ensure effective use of the portal.

Additional Information

• Department of Financial Services (DFS)
• Part of the Ministry of Finance (MoF), Government of India.
• Responsible for policies related to banking, insurance, and financial institutions.
• Debt Recovery Tribunals (DRT)
• Established under the Recovery of Debts Due to Banks and Financial Institutions Act, 1993.
• Handles cases related to recovery of debts exceeding a specified limit for banks and financial institutions.
• Public Sector Banks (PSBs)
• Banks where the majority stake is held by the Government of India.
• Examples include State Bank of India (SBI), Punjab National Bank (PNB), etc.
• Property E-Auction Portals
• Digital platforms facilitating the auction of immovable properties for loan recovery.
• Enhance transparency, efficiency, and accessibility for potential buyers.

The correct answer is ₹5 crore.

Key Points

• The state of Odisha has emerged as a prominent supporter of various sports in India, including Kho Kho.
• Odisha has a track record of backing sports events financially, aiming to promote and develop the sports culture within the state and nationwide.
• For the Kho Kho league, the sponsorship amount provided by Odisha was Rs. 5 crore annually and Rs. 15 crore in total.
• This financial support is part of Odisha's broader strategy to nurture talent and provide better infrastructure for sports.
• The backing of the Kho Kho league reflects the state's commitment to promoting indigenous sports and giving them a platform for national recognition.

Additional Information

• Odisha's Sports Initiatives:
• Odisha has been at the forefront of sports development in India, hosting several national and international events.
• The state has developed world-class facilities, like the Kalinga Stadium in Bhubaneswar.
• Kho Kho League:
• The Kho Kho League is part of efforts to popularize traditional Indian sports.
• The league aims to provide a professional platform for athletes to showcase their skills.
• Sponsorship Impact:
• Sponsorships help in providing necessary financial support for organizing events and training athletes.
• It also aids in enhancing the visibility and popularity of lesser-known sports.

The correct answer is Overnight**.**

Key Points

• The Reserve Bank of India (RBI) has introduced the Secured Overnight Rupee Rate (SORR) as a new benchmark.
• SORR is derived from secured money market transactions, including basket repo and triparty repo (TREP).
• Its primary aim is to either replace or complement the Mumbai Interbank Outright Rate (MIBOR).
• The benchmark improves transparency in the interest rate derivatives market by using actual trade data instead of poll-based rates.
• This initiative aligns with international standards like the Secured Overnight Financing Rate (SOFR).

The correct answer is The Brutalist.

Key Points

• The Golden Globe Awards are presented annually by the Hollywood Foreign Press Association (HFPA).
• The Golden Globe Award for Best Drama Film is one of the most prestigious awards in the film industry.
• Winning this award often signifies high critical acclaim and can influence other major awards, such as the Oscars.
• The Brutalist is a film that has been recognized for its outstanding storytelling, direction, and performances, contributing to its win.
• The film's win at the Golden Globes highlights its impact and significance in contemporary cinema.

Additional Information

• The Revenant
• The Revenant is a 2015 American epic survival drama film directed by Alejandro González Iñárritu.
• The film stars Leonardo DiCaprio and Tom Hardy and was praised for its cinematography and DiCaprio's performance.
• 1917
• 1917 is a 2019 British war film directed and produced by Sam Mendes.
• The movie is known for its unique filming style, simulating a continuous single take.
• Dune
• Dune is a 2021 American epic science fiction film directed by Denis Villeneuve.
• The film is an adaptation of the 1965 novel of the same name by Frank Herbert.
• The Godfather
• The Godfather is a 1972 American crime film directed by Francis Ford Coppola.
• Widely regarded as one of the greatest films of all time, it stars Marlon Brando and Al Pacino.

The correct answer is ₹300 crore.

In News

• RBI maintained the ₹300 crore Net Owned Fund requirement for Infrastructure Finance Companies (IFCs) in its January 2025 guidelines.

Key Points

• Infrastructure Finance Companies must maintain minimum Net Owned Funds of ₹300 crore.
• This requirement has been in effect since RBI's 2021-22 regulatory framework for NBFCs.
• NOF includes paid-up equity capital, free reserves, and other disclosed reserves.
• IFCs must also maintain a Capital to Risk-Weighted Assets Ratio (CRAR) of 15%.

Additional Information

• About IFCs
• Special category of NBFCs financing infrastructure projects
• Minimum 75% of total assets must be in infrastructure loans
• Examples: REC Limited, PFC, IREDA
• Other NBFC Categories
• NBFC-Investment & Credit: ₹10 crore NOF
• NBFC-Microfinance: ₹5 crore NOF
• Systemically Important NBFCs: ₹10 crore NOF
• Regulatory Framework
• Governed by RBI's Master Direction - DNBR.PD.008/03.10.119/2016-17
• Revised periodically to align with economic requirements

The correct answer is Madhya Pradesh.

Key Points

• Pachmarhi Biosphere Reserve is located in the state of Madhya Pradesh, India.
• It is part of the Satpura Range, which is known for its rich biodiversity and unique geological formations.
• The reserve was established in 1999 and covers an area of approximately 4,980 square kilometers.
• Pachmarhi is the only hill station in Madhya Pradesh and is often referred to as the "Queen of the Satpura Range."
• The region is home to several endangered species and diverse flora and fauna, making it an important area for conservation and ecotourism.

Additional Information

• Maharashtra
• Maharashtra is known for its diverse landscapes, including the Western Ghats, which are a biodiversity hotspot.
• Major cities include Mumbai, Pune, and Nagpur.
• Uttar Pradesh
• Uttar Pradesh is one of the largest states in India and is known for its cultural heritage and historical sites, such as the Taj Mahal.
• It is located in the northern part of India.
• Karnataka
• Karnataka is known for its software industry, with Bangalore being the tech hub of India.
• The state also has several national parks and wildlife sanctuaries, including Bandipur and Nagarhole.
• Rajasthan
• Rajasthan is known for its deserts, palaces, and forts, with Jaipur being the capital city.
• The state is famous for its rich cultural heritage and festivals.

The correct answer is USA.

Key Points

• The United States officially exited the World Health Organization (WHO) in January 2025.
• This decision was part of a broader policy shift under the then-current administration, reflecting concerns over the WHO's handling of global health crises.
• US contributions to the WHO accounted for approximately 15% of its total budget, making the exit a significant financial blow to the organization.
• This move was met with both domestic and international criticism, with many experts warning of the negative impact on global health initiatives.

Additional Information

• China
• China is a major global player and a member of the WHO, contributing significantly to global health initiatives.
• Russia
• Russia has been involved in various WHO programs, particularly in combating infectious diseases.
• India
• India is one of the largest contributors to WHO's workforce, particularly in polio eradication and vaccination programs.
• Brazil
• Brazil plays a crucial role in WHO's initiatives in the Americas, especially in disease control and health promotion.

The correct answer is ₹1.5 lakh crore.

In News

• Budget 2025-26 doubled the credit guarantee cover for MSEs to ₹10 crore, expected to generate ₹1.5 lakh crore additional credit.

Key Points

• Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) scheme limit doubled from ₹5 crore to ₹10 crore.
• Expected to benefit over 5 lakh MSE units across India.
• Aims to address the credit gap in the MSME sector.
• Part of government's focus on 'Atmanirbhar Bharat' in Budget 2025-26.

Additional Information

• About CGTMSE
• Launched: 2000 by GoI and SIDBI
• Covers loans up to ₹2 crore without collateral
• Default coverage: 75-85% of loan amount
• MSME Sector Significance
• Contributes 30% to India's GDP
• Employs over 11 crore people
• Accounts for 48% of exports
• Other Budget 2025-26 MSME Measures
• ₹20,000 crore corpus for tech upgradation
• Extension of non-tax benefits for 3 more years