NIACL Mains 2019 – General Awareness Day – 89

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NIACL Mains 2019 – General Awareness Day – 89

maximum of 10 points
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1) Which organisation facilitate external trade and payment and promote orderly development and maintenance of foreign exchange market in India.

a) Indian Institute of Foreign Trade (IIFT)

b) Export Credit Guarantee Corporation (ECGC)

c) Indian Institute of Export Management (IIEM)

d) Reserve Bank of India (RBI)

e) Export-Import Bank (EXIM)

2) A region generally referred as ‘Cradle of banking in India’ is located in which state?

a) West Bengal

b) Tamil Nadu

c) Maharashtra

d) Uttar Pradesh

e) Karnataka

3) FMI refers to critically important institutions responsible for providing clearing, settlement and recording of monetary and other financial transactions. ‘M’ in ‘FMI’ stands for __________.

a) Monetary

b) Market

c) Manual

d) Medium

e) Macro

4) ‘Cash Management Bills (CMB)s’ are financial instruments generically similar to ‘Treasury or T- Bills’. CMBs were introduced by which organisation in 2010.

a) Government of India

b) Reserve Bank of India

c) Consortium of all Indian states

d) Indian Bank Association

e) National Payment Corporation of India (NPCI)

5) ‘STRIPS’ are the securities created by way of separating the cash flows associated with a regular G-Sec into separate securities. ‘I’ in ‘STRIPS’ stands for __________.

a) International

b) Interest

c) Intrabank

d) Integrated

e) Incremental

6) Which country is not a member of ‘G4 nations group’?

a) Brazil

b) China

c) India

d) Japan

e) Germany

7) Which is the official currency unit of Myanmar?

a) Kyat

b) Rubal

c) Taka

d) Baht

e) Ringgit

8) Sofia is the capital of which country?

a) Croatia

b) Bulgaria

c) Estonia

d) Belarus

e) Belgium

9) Famous ‘Kopeshwar Temple’ is a Shiva temple located on the river _______ in the state of Maharashtra.

a) Godavari

b) Manjira

c) Bhima

d) Narmada

e) Krishna

10) World Health Day is celebrated on ________ every year

a) 7 April

b) 1 December

c) 5 June

d) 20 May

e) 11 July

Answers :

1) Answer: d)

Reserve Bank of India manages the ‘Foreign Exchange Management Act, 1999’. Objective of the act is to facilitate external trade and payment and promote orderly development and maintenance of foreign exchange market in India.

2) Answer: e)

The state of Karnataka, particularly the region comprising the coastal districts of Dakshin Kannada and Udupi, is called as the ‘Cradle of banking in India’. This is because seven of the country’s leading banks, Canara Bank, Syndicate Bank, Corporation Bank, Vijaya Bank, Karnataka Bank, Vysya Bank and the State Bank of Mysore originated from this state. The first five in the above list of banks were established in the districts of Udupi and Dakshin Kannada.

3) Answer: b)

‘Financial Market Infrastructure (FMI)’ refers to critically important institutions responsible for providing clearing, settlement and recording of monetary and other financial transactions. The term FMI generally refers to systemically important payment systems, Central Securities Depositories (CSDs), Securities Settlement Systems (SSSs), Central Counter Parties (CCPs), and Trade Repositories (TRs) that facilitate the clearing, settlement, and recording of financial transactions. CSDs, SSSs, CCPs are designated as “payment systems” under the ‘Payment and Settlement Systems Act, 2007 (PSS)’. TR has been defined and covered under the PSS Act.

4) Answer: a)

In 2010, Government of India, in consultation with RBI introduced a new short-term instrument, known as ‘Cash Management Bills (CMBs)’, to meet the temporary mismatches in the cash flow of the Government of India. The CMBs have the generic character of T-bills but are issued for maturities less than 91 days.

5) Answer: b)

STRIPS is the acronym for ‘Separate Trading of Registered Interest and Principal Securities’. Stripping is the process of separating a standard coupon-bearing bond into its individual coupon and principal components. STRIPS are the securities created by way of separating the cash flows associated with a regular G-Sec i.e. each semi-annual coupon payment and the final principal payment to be received from the issuer, into separate securities. They are essentially ‘Zero Coupon Bonds (ZCBs)’.

6) Answer: b)

‘G4 nations group’ comprise four countries Brazil, Germany, India, and Japan which support each other’s bids for permanent seats on the United Nations Security Council. G4’s primary aim is the permanent member seats on the Security Council. Each of these four countries have figured among the elected non-permanent members of the council since the UN’s establishment.

7) Answer: a)

Kyat is the official currency unit of Myanmar.

8) Answer: b)

Sofia is the capital of Bulgaria

9) Answer: e)

The ancient Kopeshwar temple at Khidrapur in Kolhapur District, Maharashtra state is dedicated to Lord Shiva and sits on the bank of River Krishna. There are reasons to believe that even though the construction of Kopeshwar temple started sometime in 7th century AD, the work remained incomplete largely due to constant skirmishes between warring rulers of the region. The renovation was completed only in the 12th Century by the Shilahara and the Yadava Kings.

10) Answer: a)

The World Health Day is a global health awareness day celebrated every year on 7 April, under the sponsorship of the World Health Organization (WHO), as well as other related organisations.

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