LIC AAO General Awareness Questions Day – 180

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LIC AAO General Awareness Questions Day – 180

maximum of 10 points
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1) With respect to banking, the rate at which Reserve Bank of India extends short term loans to the commercial bank is known as _________.

a) Net Interest Margin

b) Adjusted Interest

c) Repo Rate

d) Reverse Repo Rate

e) Attrition Rate

2) Which among the following is associated only with the concept of current account & capital accounts?

a) Balance of trade

b) Balance of revenue

c) Balance of access

d) Balance of funds

e) None of the above

3) What section of Reserve Bank of India Act, 1934 empowers the government to issue directions to the RBI on policy issues?

a) Section 6

b) Section 7

c) Section 8

d) Section 4

e) Section 9

4) Banking Outlet is a fixed-point service delivery unit for Commercial Banks, Small Finance Bank and Payment Bank. It should provide services for a minimum of _______ hours per day.

a) 2 hours

b) 3 hours

c) 4 hours

d) 6 hours

e) 5 hours

5) __________ is a form of paper certificate that promises to pay a certain amount to the bearer in the form of fiat money or commodity.

a) Fiduciary Money

b) Fiat Money

c) Commodity Money

d) Commercial Money

e) Narrow Money

6) Deepor Beel Bird Sanctuary is situated in which state?

a) Gujarat

b) Goa

c) Assam

d) Andhra Pradesh

e) Odisha

7) M. A. Chidambaram Stadium is a cricket stadium in which city?

a) Mumbai

b) Bangalore

c) Vishakhapatnam

d) Hyderabad

e) Chennai

8) Simbalbara National Park is located in ____________.

a) Assam

b) Himachal Pradesh

c) Nagaland

d) Jharkhand

e) Maharashtra

9) Subroto Cup is associated with which among the following games?

a) Cricket

b) Football

c) Badminton

d) Hockey

e) Polo

10) “Ottan Thullal” is the folk dance of which state?

a) Kerala

b) Karnataka

c) Andhra Pradesh

d) Tamil Nadu

e) Odisha

Answers :

1) Answer: c)

Repo rate is the rate at which the central bank of a country (Reserve Bank of India in case of India) lends money to commercial banks in the event of any shortfall of funds.

Repo rate is used by monetary authorities to control inflation. The current repo rate is 6%.

2) Answer: e)

Balance of Payments is defined as the total volume of transactions undertaken by a country in the international account over a financial year. It is mainly categorized under two heads and they are current account and capital account.

It summarizes all transactions that a country’s individuals, companies and government bodies complete with individuals, companies and government bodies outside the country. These transactions consist of imports and exports of goods, services and capital, as well as transfer payments such as foreign aid and remittances.

3) Answer: b)

Section 7 of the Reserve Bank of India Act, 1934 empowers the government to issue a direction to the RBI on policy issues.

The government has invoked Section 7 which has never been used before. The law provides for the government to give instructions to the central bank based on the dialogue between the two.

4) Answer: c)

Banking Outlet is a fixed-point service delivery unit for a Domestic Scheduled Commercial Bank, Small Finance Bank and Payment Bank.

It is manned by either bank’s staff or it’s Business Correspondent where services of acceptance of deposits, encashment of cheques/ cash withdrawal or lending of money are provided for a minimum of 4 hours per day for at least five days a week.

5) Answer: a)

Fiduciary Money is a form of paper certificate that promises to pay a certain amount to the bearer in the form of fiat money or commodity.

It is not declared as a legal tender, so can be reused as a medium of settlement.

Example – Cheques, demand drafts, etc.

6) Answer: c)

Deepor Beel Bird Sanctuary is situated in Assam. It is the largest freshwater lake of Brahmaputra valley in Assam.

7) Answer: e)

M.A. Chidambaram Stadium is a stadium in Chennai. The stadium is named after the ex- President of BCCI and the Tamil Nadu Cricket Association, Mr. M. A. Chidambaram. The stadium is popularly recognized as Madras Cricket Club Ground or Chepauk Stadium.

8) Answer: b)

Simbalbara National Park is located in Himachal Pradesh.

9) Answer: b)

Subroto Cup is related to Football. In 2018, Bangladesh Krida Shiksha Prothishtan has clinched the 59th edition of the Subroto Cup International Football Tournament (Junior Boys category).

10) Answer: a)

“Ottan Thullal” is a dance and poetic performance form of Kerala, India. It was introduced in the 18th century by Kunchan Nambiar.

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