LIC ADO General Awareness Questions Day – 196

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1) Qualitative tools is one of the methods used by Reserve Bank of India to implement monetary policy. Which one among the following is not a Qualitative tool?

a) Consumer credit regulation

b) Selective credit control

c) Moral Suasion

d) Open Market Operations

e) Rationing of Credit

2) EEFC is an account maintained in foreign currency with a bank authorized to deal in foreign exchange. In the full form of ‘EEFC’, what does “C” stands for?

a) Change

b) Credit

c) Currency

d) Country

e) Coalition

3) In the context of Indian banking system, ‘Bank Rate ‘refers to?

a) It is the rate at which RBI borrows money from the commercial banks.

b) It is the rate of interest below which banks cannot lend to the general public.

c) It is the rate of interest charged by the RBI for providing long term loans to the commercial banks.

d) It is the rate of interest charged by the RBI for providing or loans to the Government.

e) It is the rate of interest applicable to interbank transactions.

4) CRAR is a banking term frequently seen in news. What is CRAR?

a) It is a certain minimum amount of deposit that the commercial banks have to hold as reserves with the central bank.

b) It signifies the availability of certain capital as a percentage of risk weighted assets.

c) It is the reserve requirement that the commercial banks in India are required to maintain in the form of cash, gold reserves, RBI approved securities before providing credit to the customers.

d) It is the rate at which the central bank of a country borrows money from commercial banks within the country.

e) It is an aid for banks to resolve any short term cash shortages due to economic instability or any other form of stress.

5) Which of the following is NOT the feature of Crypto-currencies like Bitcoin, Litecoin, Ripple etc.?

a) A kind of Virtual Currency

b) Open Source

c) Peer to Peer Algorithm

d) Centralised Administering Authority

e) Irreversible & Immutable (cannot be undone)

6) The Indira Sagar Dam is located in which of the following Indian State?

a) Uttar Pradesh

b) Rajasthan

c) Punjab

d) Madhya Pradesh

e) Bihar

7) Periyar National Park belongs to which of the following states?

a) Maharashtra

b) Sikkim

c) Goa

d) Kerala

e) Madhya Pradesh

8) World Tuna day is observed every year on which of the following dates?

a) 18 April

b) 24 April

c) 2 May

d) 6 May

e) 10 May

9) The child sex ratio (0-6 years) is _____ females per thousand males as per the Census, 2011.

a) 936

b) 927

c) 919

d) 912

e) 906

10) Headquarters of “World Intellectual Property Organization (WIPO)” is located at which place?

a) Washington DC

b) Geneva

c) Paris

d) Singapore

e) Brussels

Answers :

1) Answer: d)

Open Market Operations (OMO) refer to a central bank’s buying and selling of government securities in the open market in order to expand or contract the amount of money in the banking system. This is a feature of Quantitative Tools along with Reserve Ratio (CRR/SLR) and Bank rate.

2) Answer: c)

Exchange Earners’ Foreign Currency Account (EEFC) is an account maintained in foreign currency with an Authorised Dealer Category -I bank i.e. a bank authorized to deal in foreign exchange. It is a facility provided to the foreign exchange earners, including exporters, to credit 100 per cent of their foreign exchange earnings to the account, so that the account holders do not have to convert foreign exchange into Rupees and vice versa, thereby minimizing the transaction costs.

3) Answer: c)

The bank rate, also known as the discount rate, is the rate of interest charged by the RBI for providing funds or loans to the banking system.

4) Answer: b)

CRAR is the acronym for capital to risk weighted assets ratio.

5) Answer: d)

Decentralised Virtual Currencies (a.k.a. crypto-currencies) are distributed, open-source, math-based peer-to-peer virtual currencies that have no central administering authority, and no central monitoring or oversight. Since there is no need for a central authority, users do not need to identify themselves when transacting with cryptocurrency.

6) Answer: d)

The Indira Sagar Dam is a multipurpose project of the state Madhya Pradesh on the Narmada River at the town of Narmada Nagar Mundi in the Khandwa district of Madhya Pradesh in India.

7) Answer: d)

Periyar National Park and Wildlife Sanctuary (PNP) is in Kerala, India. Periyar River is the longest river and the river with the largest discharge potential in the Indian state of Kerala. It generates a significant share of Kerala’s electrical power via the “Idukki Dam”.

8) Answer: c)

World Tuna Day was observed on May 2 worldwide to highlight the importance of tuna fish and to promote more sustainable fishing practices.

9) Answer: c)

The child sex ratio (0-6 years) is 919 females per thousand males as per the Census, 2011 which decreased from 927 females per thousand males in 2001.

10) Answer: b)

The World Intellectual Property Organization (WIPO) is one of the 15 specialized agencies of the United Nations (UN) headquartered at Geneva, Switzerland. WIPO was created in 1967 “to encourage creative activity, to promote the protection of intellectual property throughout the world”. The current Director-General of WIPO is Francis Gurry, who took office on 1 October 2008.

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