LIC ADO General Awareness Questions Day – 192

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1) Which Act was framed specially to deal with Non-Performing Assets (NPA)?

a) Banking Regulation Act 1949

b) Foreign Exchange Management Act (FEMA) 1999

c) Industrial Disputes Act 1947

d) SARFAESI Act, 2002

e) None of these

2) In Notice Money Market, the tenor of the transactions is from ________

a) 2-7 days

b) 2-14 days

c) 2-21 days

d) 2-28 days

e) 2-90 days

3) An Asset Reconstruction Company (ARC) in India is associated with-



c) NPA

d) Home Loan

e) None of these

4) Which of the following is mainly used by the banks in order to meet their temporary requirement of Cash on a daily basis?

a) Commercial Paper

b) Certificate of Deposit

c) Collateralized Borrowing and Lending Obligations (CBLO)

d) Call Money

e) None of these

5) ______________ is a quick and easy way of transferring personal remittances from abroad to beneficiaries in India by India Post.

a) EMO network

b) International Financial System

c) Money Transfer Service Scheme

d) National Electronic Funds Transfer

e) None of these

6) When the World Autism Awareness Day is observed every year?

a) 1 April

b) 2 April

c) 3 April

d) 4 April

e) None of these

7) Jhumar is the popular folk dance of which state?

a) Punjab

b) Uttarakhand

c) Rajasthan

d) Jammu and Kashmir

e) Madhya Pradesh

8) Who among the following is the current chief minister of Uttar Pradesh?

a) Bhupesh Baghel

b) Sarbanda Sonowal

c) Vijaybhai R Rupani

d) Nitish Kumar

e) Yogi Adityanath

9) The Kambalakonda Wildlife Sanctuary is located in which state?

a) Andhra Pradesh

b) Telangana

c) Karnataka

d) Tamil Nadu

e) Kerala

10) The Pakal Dul Dam is located in which state?

a) Jammu and Kashmir

b) Punjab

c) Mizoram

d) Meghalaya

e) West Bengal

Answers :

1) Answer: d)

SARFAESI Act (The Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002) was enacted to regulate securitization and reconstruction of financial assets and enforcement of security interest created in respect of Financial Assets to enable realization of such assets. The SARFAESI Act provides for the manner for enforcement of security interests by a secured creditor without the intervention of a court or tribunal. If any borrower fails to discharge his liability in repayment of any secured debt within 60 days of notice from the date of notice by the secured creditor, the secured creditor is conferred with powers under the SARFAESI Act.

2) Answer: b)

In money market, the amount that is lent for one day is known as “call money” and, if it exceeds one day or two days to 14 days is referred to as “notice money.”

3) Answer: c)

Asset Reconstruction Company (ARC) also known as Securitization company in India helps to unlock the value of non-performing assets (NPA) in banks through Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act 2002.ARC is regulated by RBI as a Non Banking Financial Company (NBFC).

4) Answer: d)

Call money market is a market for uncollateralized lending and borrowing of funds. This market is predominantly overnight and is open for participation only to scheduled commercial banks and the primary dealers.

5) Answer: c)

Money Transfer Service Scheme is a quick and easy way of transferring personal remittances from abroad to beneficiaries in India. Only inward personal remittances into India such as remittances towards family maintenance and remittances favoring foreign tourists visiting India are permissible. No outward remittance from India is permissible under MTSS.

6) Answer: b)

World Autism Awareness Day is an internationally recognized day on 2 April every year, encouraging Member States of the United Nations to take measures to raise awareness about people with Autism Spectrum Disorder (ASD) throughout the world.

7) Answer: a)

Jhumar is known for its liveliness and enthusiasm. It originated from Balochistan and Multan regions. The dance is rhythmic and slow in tempo. There are many types of Jhumar like Satluj Jhumar, Chenab Jhumar, Beas Jhumar and Multani Jhumar. This dance is very popular among the folk dances from Punjab and is especially known for its grace and elegance.

8) Answer: e)

Yogi Adityanath of the Bharatiya Janata Party has served as the incumbent chief minister since 19 March 2017.

9) Answer: a)

The Kambalakonda Wildlife Sanctuary is a forest located near Visakhapatnam. It is under the control of Andhra Pradesh Forest Department since 10 March 1970.

10) Answer: a)

The Pakal Dul Dam is a proposed concrete-face rock-fill dam on the Marusadar River, a tributary of the Chenab River, in Kishtwar district of the Indian state of Jammu and Kashmir.

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