Banking Awareness PYQs

The correct answer is Collaboration for the Intelligent Age.

In News

• The 55^th World Economic Forum (WEF) Annual Meeting began in Davos with the theme “Collaboration for the Intelligent Age.”

Key Points

• Crystal Awards were presented to David Beckham, Diane von Furstenberg, and Riken Yamamoto for contributions to social, environmental, and creative progress.
• 3,000 global leaders from public and private sectors are participating in the five-day event.
• Key discussions focus on geopolitical, geo-economic, and technological challenges and opportunities.
• Indian delegation, led by Union Minister Ashwini Vaishnaw, highlights economic policies, digital transformation, and state investment opportunities.

Additional Information

• Crystal Awards
• Recognize individuals for advancing impactful causes such as community regeneration, gender equality, and children’s rights.
• Indian Delegation Highlights
• Focus on Prime Minister Narendra Modi’s economic policies and India’s digital architecture.
• State leaders like Devendra Fadnavis and N. Chandrababu Naidu promote state-specific investment opportunities.
• World Economic Forum (WEF)
• Founded in 1971, headquartered in Geneva, Switzerland.
• Serves as a platform for global leaders to discuss pressing issues and promote public-private collaboration.

The correct answer is Rs. 4,000 crore.

Key Points

• The Union Cabinet has approved the construction of a third launch pad (TLP) at ISRO's space center in Sriharikota, with an investment of Rs 3,984 crore.
• The new launch pad at Satish Dhawan Space Centre in Sriharikota, Andhra Pradesh, will be used for ISRO’s Next Generation Launch Vehicles and serve as a backup for the second launch pad.
• Expected to be operational in four years, the TLP will also boost the capacity for future Indian human spaceflight missions.
• Designed for flexibility, the launch pad will support the Next Generation Launch Vehicle (NGLV) and ISRO's medium-lift vehicle, Launch Vehicle Mark-3.

The correct answer is option 2.

Key Points Codex Alimentarius Commission (CAC) : The Codex Alimentarius Commission (CAC) is an international organization working to ensure food safety and fair practices in the global food trade.

Key points about the CAC:

Joint Effort:

• Established in 1963 by the Food and Agriculture Organization (FAO) of the United Nations and the World Health Organization (WHO).

Mission:

• Protects consumer health by setting international food standards, guidelines, and codes of practice.
• Ensures fair practices in the food trade by promoting harmonization of food standards.
• Facilitates international trade in food by providing a common platform for countries to agree on food safety and quality requirements.

Membership:

• Open to all member nations and associate members of FAO and WHO. Currently, there are 189 members, including 188 countries and the European Union.

Structure:

• Governed by the Codex Alimentarius Commission (CAC) which meets annually.
• Supported by subsidiary bodies like General Subject Committees, Commodity Committees, Task Forces, and the Executive Committee.

Work Process:

• Develops food standards based on scientific risk assessment and consensus among member countries.
• Standards cover a wide range of food products, including contaminants, additives, labeling, hygiene, and residues.

Impact:

• Codex standards are recognized by the World Trade Organization (WTO) as the benchmark for food safety and quality in international trade.
• Play a vital role in protecting consumers from unsafe food and promoting a level playing field for food producers and exporters.

The correct answer is Both (2) and (3).

In News

• Sagarmala Programme has completed 10 years since its implementation in March 2015.

Key Points

• The Sagarmala Programme was launched in 2015 with a focus on modernizing India's ports, not airports.
• There has been a 700% increase in inland waterway cargo movement, easing road and rail congestion.
• The Sagarmala Programme is indeed aligned with India's Maritime Amrit Kaal Vision 2047 to become a global maritime leader.

Additional Information

• Sagarmala Programme
• Launched in March 2015 with a focus on enhancing maritime infrastructure and reducing logistics costs.
• Helps improve coastal shipping, inland waterways, and port modernization for industrial growth.
• Inland Waterways and Coastal Shipping
• Inland waterway cargo movement has surged by 700%, easing congestion on road and rail networks.
• Coastal shipping has increased by 118% in the past decade.
• Vision 2047
• Sagarmala Programme is a key component of India's Maritime Amrit Kaal Vision 2047.
• Aligns with India’s goal to become a global leader in maritime trade and industry.

The Government of India appointed the National Income Committee after independence in August 1949 with Prof. PC. Mahalanobis as its Chairman and Prof. D.R. Gadgil and Dr. V.K.R.V. Rao as its two members. The committee was set up  to compile national income. The first report of this committee was prepared in 1951.

The correct answer is IMF and the World Bank.

In News

• The IMF and World Bank jointly conduct Financial Sector Assessment Programs (FSAPs) to evaluate countries' financial stability.

Key Points

• FSAP was established in 1999 after the Asian financial crisis to strengthen financial system supervision.
• IMF focuses on macroeconomic risks and financial stability assessments.
• World Bank evaluates financial development and inclusion aspects.
• India's last FSAP was conducted in 2021-22.

Additional Information

• FSAP Components
• Risk assessment and stress testing
• Regulatory framework evaluation
• Financial infrastructure review
• Assessment Frequency
• Mandatory for systemically important financial sectors every 5 years
• Voluntary for other countries
• Recent FSAPs
• United States: 2020
• China: 2023
• Euro Area: 2023

The correct answer is Yael van der Wouden.

In News

• Dutch author Yael van der Wouden won the 2024 Booker Prize for her debut novel 'The Safekeep'.

Key Points

• Yael van der Wouden became the first Dutch author to win the prestigious Booker Prize.
• 'The Safekeep' is a historical fiction set in post-war Netherlands.
• The novel explores themes of memory, trauma, and queer identity.
• Wouden received the £50,000 prize at a ceremony in London on November 19, 2024.

Additional Information

• About the Booker Prize
• Established: 1969
• Awarded for: Best original novel written in English
• Recent Indian winners: Arundhati Roy (1997), Geetanjali Shree (2022)
• Yael van der Wouden
• Nationality: Dutch
• Background: Creative writing professor at University of Amsterdam
• Previous works: Short story collections
• 2024 Booker Shortlist
• Included authors from UK, US, Canada and Ireland
• Judges praised 'The Safekeep' for its "emotional precision and historical resonance"

The correct answer is European Space Agency (ESA).

In News

• ISRO and European Space Agency (ESA) signed a landmark agreement in December 2024 for collaboration in astronaut training and space research.

Key Points

• The agreement was signed during ESA Director General's visit to ISRO headquarters in Bengaluru.
• Collaboration focuses on Gaganyaan astronaut training and joint space science missions.
• ESA will provide access to its training facilities in Cologne, Germany.
• Partnership includes technology sharing for human spaceflight programs.

Additional Information

• ESA-ISRO Collaboration Areas
• Astronaut training for Gaganyaan mission
• Space medicine research
• Planetary exploration missions
• About European Space Agency
• Founded: 1975
• Member states: 22 European countries
• Headquarters: Paris, France
• ISRO's Gaganyaan Mission
• India's first human spaceflight program
• Target launch: 2025
• Crew size: 3 astronauts

The correct answer is Lausanne, Switzerland.

In News

• The International Olympic Committee (IOC) headquarters in Lausanne, Switzerland celebrated International Olympic Day on June 23, 2024.

Key Points

• The IOC has been headquartered in Lausanne, Switzerland since 1915.
• The headquarters is called the "Olympic House" located on the shores of Lake Geneva.
• Lausanne was designated as the "Olympic Capital" in 1994.
• The modern Olympic House was inaugurated in 2019 as a state-of-the-art sustainable building.

Additional Information

• About IOC
• Founded: 23 June 1894 (hence Olympic Day date)
• Founder: Pierre de Coubertin
• Current President: Thomas Bach
• Olympic House Features
• LEED Platinum certified (highest sustainability standard)
• Solar panels and geothermal energy systems
• Houses the Olympic Museum
• Why Switzerland?
• Neutrality during World War I prompted the move from Paris
• Switzerland's political neutrality remains important

The correct answer is No limit.

In News

• Finance Minister Nirmala Sitharaman launched the NPS Vatsalya pension scheme for minors with no upper limit on contributions.

Key Points

• NPS Vatsalya scheme has no maximum contribution limit for subscribers.
• Minimum annual contribution requirement is ₹1,000.
• Scheme designed for parents/guardians to build retirement corpus for minors.
• Flexible contribution options with no upper ceiling.

Additional Information

• NPS Vatsalya Features
• Available for minors aged 0-18 years
• Account converts to regular NPS when minor turns 18
• Multiple investment options and pension fund managers
• Tax Benefits
• Contributions eligible for tax deduction under Section 80C
• Subject to overall ₹1.5 lakh limit of Section 80C
• Withdrawal Rules
• 60% corpus withdrawal allowed at maturity (age 60)
• 40% must be used to purchase annuity

The correct answer is Uttar Pradesh, Madhya Pradesh, Gujarat, and Odisha.

In News

• Uttar Pradesh, Madhya Pradesh, Gujarat, and Odisha became the first states to achieve 100% district coverage in the Kharif Digital Crop Survey.

Key Points

• These four states successfully implemented the digital survey across all their districts during the Kharif season.
• The Digital Crop Survey is part of the government's agricultural digitization initiative.
• Uttar Pradesh covered all 75 districts, the highest among these states.
• The survey helps in real-time monitoring of crop patterns and yield estimation.

Additional Information

• Digital Crop Survey Features
• Uses satellite imagery and ground truthing
• Integrated with Bhuvan and other geospatial platforms
• Provides accurate crop area statistics
• Implementation Benefits
• Timely assessment of crop health
• Better planning for procurement and storage
• Reduces dependence on manual surveys
• State-wise Agricultural Significance
• Uttar Pradesh: India's largest foodgrain producer
• Madhya Pradesh: Leading soybean producer
• Gujarat: Major cotton and groundnut producer
• Odisha: Important rice growing state

The correct answer is Sachin Tendulkar.

In News

• Cricket legend Sachin Tendulkar was conferred honorary membership of the Melbourne Cricket Club (MCC) in December 2024.

Key Points

• Sachin Tendulkar became the 13^th Honorary Life Member of MCC in its 187-year history.
• The honor recognizes his exceptional contributions to cricket and sportsmanship.
• Tendulkar joins legends like Sir Don Bradman and WG Grace who received this honor.
• The ceremony took place at Lord's Cricket Ground, the home of MCC.

Additional Information

• Melbourne Cricket Club (MCC)
• Founded: 1838
• Manages the Melbourne Cricket Ground (MCG)
• One of Australia's most prestigious sporting institutions
• Sachin Tendulkar's Achievements
• Only player with 100 international centuries
• First sportsperson to receive Bharat Ratna (2014)
• ICC Hall of Fame inductee (2019)
• Previous MCC Honorary Members
• Sir Donald Bradman (1948)
• Shane Warne (2005)
• Rahul Dravid (2018)

The correct answer is 2006.

In News

• The International Astronomical Union (IAU) redefined planetary classification in 2006, reclassifying Pluto as a dwarf planet.

Key Points

• The IAU General Assembly in Prague voted on August 24, 2006 to establish new criteria for planetary status.
• Pluto failed to meet the third criterion of "clearing its orbital neighborhood".
• The decision reduced the number of solar system planets from nine to eight.
• Pluto was reclassified as the prototype of a new category of "dwarf planets".

Additional Information

• IAU Planetary Criteria
• Orbits the Sun
• Has sufficient mass for hydrostatic equilibrium (nearly round shape)
• Has cleared the neighborhood around its orbit
• Current Dwarf Planets
• Pluto, Eris, Haumea, Makemake, Ceres
• All except Ceres are located in the Kuiper Belt
• New Horizons Mission
• NASA's 2015 flyby provided first close-up images of Pluto
• Revealed complex geology despite dwarf planet status

The correct matches are All of the above.

In News

• Marine Protected Areas in Peninsular India play crucial roles in coastal biodiversity conservation.

Key Points

• All given Marine Protected Areas are correctly matched with their respective states.
• Gahirmatha in Odisha is famous for Olive Ridley turtle nesting.
• Coringa in Andhra Pradesh is known for its mangrove forests and saltwater crocodiles.
• Fudam Marine in Daman and Diu protects coral reefs and marine biodiversity.

Additional Information

• Gahirmatha Marine Sanctuary
• Location: Kendrapara district, Odisha
• Key species: Olive Ridley turtles
• Area: 1,435 sq km
• Coringa Wildlife Sanctuary
• Location: East Godavari district, Andhra Pradesh
• Key feature: Second largest mangrove forest in India
• Dr Salim Ali Bird Sanctuary
• Location: Chorao Island, Goa
• Named after: The "Birdman of India"
• Key species: Migratory birds
• Khijadia Bird Sanctuary
• Location: Jamnagar district, Gujarat
• Type: Freshwater wetland
• Ramsar site designation: 2022

The correct answer is $776 billion.

In News

• India's export outlook for FY 2023-24 was projected at $776 billion as per the Economic Survey.

Key Points

• Total export projection includes both merchandise and services exports.
• Merchandise exports estimated at $450 billion for FY 2023-24.
• Services exports projected at $326 billion for the same period.
• The outlook reflects India's growing integration in global value chains.

Additional Information

• Export Composition
• Top merchandise exports: Petroleum products, gems & jewelry, engineering goods
• Leading services exports: IT services, business services, travel
• Growth Drivers
• Production Linked Incentive (PLI) schemes
• Free Trade Agreements with key partners
• Global demand recovery post-pandemic
• Economic Survey Insights
• Highlighted export sector resilience amid global challenges
• Emphasized need for export diversification

The correct answer is ₹8,314 crore.

In News

• The Government of India approved ₹8,314 crore budget for WDC-PMKSY 2.0 (2021-2026) to promote watershed development across the country.

Key Points

• Total budget allocation of ₹8,314 crore for the five-year period (2021-2026).
• Scheme implemented by the Department of Land Resources, Ministry of Rural Development.
• Aims to develop 49.5 lakh hectares of rainfed/degraded land through watershed projects.
• Focuses on water conservation, soil moisture improvement, and groundwater recharge.

Additional Information

• PMKSY 2.0 Components
• Accelerated Irrigation Benefit Programme (AIBP)
• Har Khet Ko Pani (HKKP)
• Per Drop More Crop (PDMC)
• Watershed Development (WDC)
• Implementation Strategy
• Cluster-based approach covering multiple villages
• Convergence with MGNREGS for water conservation works
• Expected Outcomes
• Increase in water availability for agriculture
• Improvement in crop productivity
• Reduction in soil erosion

The correct answer is ₹12,698.

In News

• NABARD's NAFIS report revealed the average monthly income of rural households as ₹12,698 for FY 2022-23.

Key Points

• The National Bank for Agriculture and Rural Development (NABARD) released its second All India Rural Financial Inclusion Survey (NAFIS) for 2021-22.
• Survey covered 40,327 rural households across 28 states and 8 UTs.
• Average monthly income showed significant variation across states and occupations.
• Income levels were highest for households engaged in non-farm business activities.

Additional Information

• Income Distribution
• Agricultural households: ₹10,816 per month
• Non-agricultural households: ₹15,115 per month
• State-wise Variations
• Highest: Kerala (₹19,921)
• Lowest: Odisha (₹7,731)
• NAFIS Survey Details
• First survey conducted in 2016-17
• Provides comprehensive rural financial inclusion data

The correct answer is 21.38 LMT.

In News

• India's wheat production is estimated to increase by 21.38 LMT (Lakh Metric Tonnes) in 2024-25 compared to 2023-24, as per the Ministry of Agriculture's second advance estimates.

Key Points

• Total wheat production for 2024-25 is projected at 114.36 LMT compared to 92.98 LMT in 2023-24.
• This marks a significant 23% year-on-year increase in wheat output.
• The increase is attributed to favorable weather conditions and expanded cultivation area.
• Major contributing states include Uttar Pradesh, Madhya Pradesh, and Punjab.

Additional Information

• Agricultural Production Trends
• Record wheat production achieved in 2020-21: 109.59 LMT
• 2023-24 saw production dip due to unseasonal rains
• Government Measures
• Increased MSP for wheat to ₹2,275 per quintal
• Expanded irrigation coverage under PMKSY
• Global Context
• India remains second-largest wheat producer after China
• Production increase may lead to export policy review

The correct answer is ₹500 crore.

In News

• The Department of Financial Services (DFS) approved ₹500 crore capital infusion for IFCI Limited in January 2025.

Key Points

• The ₹500 crore capital infusion was sanctioned for FY 2024-25 to strengthen IFCI's financial position.
• This infusion aims to enhance IFCI's lending capacity and support infrastructure financing.
• The funds were released in January 2025 as part of the government's development financial institution (DFI) support.
• IFCI will utilize these funds to meet regulatory capital requirements and expand operations.

Additional Information

• About IFCI Limited
• Established: 1948 (India's first DFI)
• Headquarters: New Delhi
• Primary Role: Infrastructure and industrial project financing
• Recent Capital Infusions
• FY 2023-24: ₹200 crore infusion
• FY 2022-23: ₹300 crore infusion
• Government Support
• Ownership: 56.42% stake held by government entities
• Classification: Systemically Important Non-Deposit taking NBFC

The correct answer is Launch of India's first Organic Fisheries Cluster in Sikkim.

In News

• The Union Minister Shri Rajiv Ranjan Singh launched India’s first Organic Fisheries Cluster in Sikkim during the North East Region Meet 2025.

Key Points

• The Organic Fisheries Cluster is located in Soreng District of Sikkim.
• This initiative is part of the government’s effort to develop sustainable organic fisheries and aquaculture in Sikkim.
• The launch was accompanied by the laying of foundation stones for projects worth Rs. 50 crores aimed at improving the fisheries sector in the Northeast region.
• The Organic Fisheries Cluster will focus on the sustainable growth of the fisheries sector and generate employment opportunities in the region.

Additional Information

• Pradhan Mantri Matsya Sampada Yojana (PMMSY)
• Launched in 2020 for the development of the fisheries sector in India
• Focuses on modernizing infrastructure and creating sustainable livelihoods