Dear Aspirants, LIC AAO is one the most important exam in the competitive examination. LIC AAO mains exam consists of four sections i.e. Reasoning ability, Data Analysis & Interpretation, General knowledge & Current affairs and Insurance & Financial Market Awareness. Insurance & Financial Market Awareness section comprises of 30 questions. Insurance & Financial Market Awareness questions plays an important role in boosting up the score in mains examination and also helps in interview. Here we are providing new series of Practice Questions on Financial awareness. Aspirants can make use of it, to improve score in Insurance & Financial Market Awareness section.
1) Which among the following has become the first small finance bank to introduce personal loan scheme for salaried employees?
a) Ujjivan Small Finance Bank
b) Jana Small Finance Bank
c) Equitas Small Finance Bank
d) Fincare Small Finance Bank
e) None of the above
2) What is the present refinance limit for housing finance companies?
a) ₹ 30000 Crore
b) ₹ 24000 Crore
c) ₹ 36000 Crore
d) ₹ 28000 Crore
e) ₹ 32000 Crore
3) Under the Credit Risk Guarantee Fund Scheme, Individual borrowers can get guarantee cover for housing loans up to __________.
a) ₹ 2 Lakh
b) ₹ 5 Lakh
c) ₹ 10 Lakh
d) ₹ 3 Lakh
e) ₹ 1 Lakh
4) NBFC- Infrastructure Finance company should have a minimum Capital to Risk (Weighted) Assets Ratio of _________.
5) India has extended Line of Credit (LoC) of $200 million to which country through Exim Bank for infrastructure and housing projects.
6) IIFL Home Finance signed anMoU with which state government for building houses under PradhanMantriAwasYojana.
a) Uttar Pradesh
e) Tamil Nadu
7) India has signed $950 million contract with ________ to buy two stealth frigates.
8) Swift India has partnered with fin-tech company ____________ to create blockchain platform to prevent frauds and to ensure safety of transactions.
d) Aye Finance
9) Reserve Bank of India disbursed $ ________ million loan amounts to Sri Lanka to boost its reserves.
10) Recently, SEBI withdrew _________ percentage limit on investments by Foreign Portfolio Investors in corporate bonds of an entity.
1) Answer: a)
Ujjivan Small Finance Bank, a wholly owned subsidiary of Ujjivan Financial Services Limited, launched personal loan facility for salaried professionals making it the first small finance bank in India to offer this scheme. The personal loan will be available for salaried professionals who are earning a monthly salary above Rs 15, 000. Individuals can avail loans starting from Rs 50,000 up to Rs 15 lakhs
2) Answer: a)
The National Housing Bank (NHB) has set the refinance limit to Rs 30,000 crore for housing finance companies for 2018-19 in view of the current liquidity position of the sector. It helps alleviate the liquidity crunch that the sector is facing following series of defaults by group companies of IL&FS Ltd.
3) Answer: b)
Credit Risk Guarantee Fund Scheme for Low Income Housing (CRGFS) was formulated by the Ministry of Housing and Urban Poverty Alleviation. The objective of the scheme is to provide credit guarantee support to Collateral free/third-party guarantee free housing loans up to Rs.5 lakhs extended by eligible lending institutions for Low Income Housing in urban areas. National Housing Board has been mandated to manage the Fund Trust under the scheme.
4) Answer: b)
Infrastructure Finance Company is a non-banking finance company which deploys at least 75% of its total assets in infrastructure loans.It should have a minimum Net Owned Funds of ₹ 300 crore and a Capital to Risk (Weighted) Assets Ratio (CRAR) of 15%.NBFCs lend and make investments and hence their activities are like banks. But they cannot accept demand deposits, they do not form part of the payment and settlement system and cannot issue cheques drawn on itself.
5) Answer: c)
India has extended Line of Credit (LoC) $200 million to Uzbekistan through Exim Bank which entered into an agreement with Uzbekistan to facilitate credit line to finance housing and social infrastructure projects.
6) Answer: b)
IIFL Home Finance signed a Memorandum of Understanding (MoU) with the Maharashtra government for capacity building for affordable housing through credit-linked subsidy scheme (CLSS) under PradhanMantriAwasYojana (PMAY). IIFL Chairman- Nirmal Jain
7) Answer: b)
India has signed a $950 million contract with Russiafor 2 upgraded Krivak III-class stealthfrigates. They are built by Yantar Shipyard of Russia and will be powered by Ukrainian gasturbine engines. They are expected to be delivered by the end of 2022.
8) Answer: e)
The banking sector is set to create a blockchain platform with SWIFT India to prevent frauds and ensure transparency and security of real-time transactions. SWIFT India has partnered with fin-tech company MonetaGo for a pilot project.
9) Answer: a)
Reserve Bank of India (RBI) disbursed $400 million to the Central Bank of Sri Lanka (CBSL) under the SAARC swap facility. Sri Lanka’s reserves dipped from $7991 million to $6985 million due to the political crisis.
10) Answer: c)
Securities and Exchange Board of India (SEBI) withdrew the 20% limit on investments by Foreign Portfolio Investors in corporate bonds of an entity. The regulator said the restriction is being withdrawn in accordance with a circular issued by the Reserve Bank of India.