General Awareness Objective Questions................

1. How many countries are the members of WTO as of June2014?

(1) 162 (2) 156 (3) 153 (4) 145 (5) 172

Ans. (1) The WTO consisted of 160 members till 26 June 2014. On 26 June 2014, Yemen became the 160th WTO member, closing the 13-year long chapter of negotiating its accessions terms with WTO member countries.Seychelese is 161 and kazakistan is 162 member.

2. What is the maximum amount that can be invested under the recently launched Kisan Vikas Patra?

(1) Rs. 1,50,000 (2) Rs. 1,00,000 (3) Rs. 5,00,000 (4) No ceiling (5) Rs. 25,000

Ans. (4) There is no maximum limit on investment in Kisan Vikas Patra (KVP). KVP certificates are available in denomination of Rs 1,000, Rs 5,000, Rs 10,000 and Rs 50,000. KVP’s have a lock-in period of 2 years and 6 months.

3. The world’s biggest airport for international traffic as per 2014 data

(1) Chhatrapati Shivaji International Airport (2) Chicago International Airport

(3) London’s Heathrow Airport (4) Dubai International Airport

(5) Rajivgandhi International Airport

Ans. (4) As per a 2014 traffic report, released by the Dubai International Airport in January 2015, for the first time ever, it has overtaken London’s Heathrow as the world’s busiest airport for international traffic. It reported a total of 70.4 million passengers in 2014 more than the 68.1 million international passengers of Heathrow in 2014.

4. Who has been named as the winner of the 2014 Sahitya Akademi award for Sanskrit?

(1) Harekrishna Satapathy (2) Ramji Thakur (3) Mithila Prasad Tripathi 

(4) Prabhu Nath Dwiwedi (5) Om Prakash Pande

Ans. (4) Prabhu Nath Dwivedi was, in January 2015, named as the winner of the Sahitya Akademi Award for Sanskrit, 2014. He won the award for his collection of 16 short stories called ‘Kanakalochanaha’. He was earlier a professor at Mahatma Gandhi Kashi Vidyapeeth, Varanasi.

5. What is the full form of CAFRAL in financial world?

(1) Council for Advanced Financial Research and Learning

(2) Centre for Advanced Financial Research and Learning

(3) Other than those given as options

(4) Council for Advanced Financial Reporting and Learning

(5) Centre for Advanced Financial Research in Logistics

Ans. (2) CAFRAL stands for Centre for Advanced Financial Research and Learning. A not-for-profit organisation; it is an independent body fully funded by the Reserve Bank of India. CAFRAL became operational in January 2011 with Usha Thorat as its Director. 

6. Report for 14th Finance Commission was submitted on 15.12.2014. Who was the chairman of this 

commission?

(1) Dr. Nachiket Mor (2) Dr. C Rangarajan (3) Dr. Y V Reddy 

(4) Dr. D Subbarao (5) Smt. Usha Thorat 

Ans. (3) Y. Venugopal Redd is the Chairman of the 14th Finance Commission of India. He is an Indian Administrative Service officer of the 1964 batch who served as Governor of the Reserve Bank of India (RBI) from 6 September 2003 until 5 September 2008

7. In April 2014, the government of India signed an agreement for implementing four Hydro electric 

power projects on a joint venture with which neighbour country? 

(1) Myanmar (2) Bangladesh (3) Bhutan (4) Sri Lanka (5) Nepal

Ans. (3) An Inter-Governmental Agreement between Bhutan and India was signed in Thimphu on 22 April2014. It is related to the development of Joint Venture Hydropower Projects through the Public Sector Undertakings of the two Governments. The agreement provides the framework for implementing four hydro-electric projects (HEPs) totaling 2120MW.

8. The amount invested in Kisan Vikas Patra would get doubled in_____ 

(1) 6 years and 3 months (2) 7 years and 6 months (3) 5 years and 6 months 

(4) 8 years and 4 months (5) 7 years and 3 months

Ans. (4) The re-launched Kisan Vikas Patra (KVP) will double the principal during its maturity period of 100 months or 8 years and 4 months. Though the investment matures in eight years and four months, one can redeem it after the lock-in period of two years and six months and thereafter in a block of six months by getting a predetermined maturity value.

9. Union Government announced on 24 December, 2014 to confer the Bharat Ratna on which two 

personalities? 

(1) P V Narasimha Rao and Deen Dayal Upadhayay 

(2) Madan Mohan Malviya and Deen Dayal Upadhayay 

(3) Atal Bihari Vajpayee and Madan Mohan Malviya 

(4) C.N.R Rao and PV Narasimha Rao 

(5) Deen Dayal Upadhaya and Netaji Subhash Chandra Bose

Ans. (3) The government, on 24 December 2014, announced the Bharat Ratna award to Pandit Madan Mohan Malviya (posthumously) and former Prime Minister Atal Bihari Vajpayee. The announcement was made on the eve of Mr. Vajpayee’s 90th birthday (on 25 December 2014) and the 153rd birth anniversary of Pandit Malviya.

10. Who amongst the following has been recently appointed as managing director (MD) and chief 

executive officer (CEO) of the multi commodity exchange (MCX) limited?(1) Deepak Parekh (2) Y H Malegam (3) B Venketaraman  (4) Prakash Parasarthy (5) S. B. Mathur

Ans. (3) Balasubramaniam Venkataramani was, on 13 February 2015, appointed as Managing Director (MD) and Chief Executive Officer (CEO) of Multi Commodity Exchange (MCX) Limited. He succeeded Manoj Vaish. MCX is India’s first listed commodity futures exchange firm that facilitates online trading, clearance and settlement of commodity futures transactions.

11. Recently a new board of Central Board of Film Certification (CBFC) has been appointed. Who 

amongst the following is the new Chairman?

(1) Anupam Kher (2) Sharmila Tagore (3) Pahlaj Nehlani (4) Asha parekh (5) Jaya Bachchan

Ans. (3) Pahlaj Nihalani was, on 19 January 2015, appointed the chairperson of the Central Board of Film Certification (CBFC). His appointment came after Leela Samson resigned as CBFC chairperson, citing interference, coercion and corruption of panel members.

12. Which of the following is the regulator of the credit rating agencies in India?

(1) FMC (2) SBI (3) SIDBI (4) SEBI (5) IRDA

Ans. (4) In India, credit rating agencies are approved by two regulators, Securities and Exchange Board of India (SEBI) for capital market operations and by RBI for rating of borrowers of banks. The capital markets regulator SEBI regulates the rating agencies in the country.

13. VAT stands for

(1) Virtual actions tasks (2) Virtual assessment technique (3) Value and tax

(4) Other than those given as options (5) Value added tax

Ans.(5) VAT stands for Value Added Tax. It is like a sales tax in that ultimately only the end consumer is taxed. It differs from the sales tax in that, with the latter, the tax is collected and remitted to the government only once, at the point of purchase by the end consumer.

14. The Government has decided to start printing of One rupee currency notes for this year. Printing of those notes was discontinued in which year?

(1) 2008 (2) 2005 (3) 2001 (4) 1995 (5) 1994

Ans. (5) Due to higher cost and for freeing capacity to print higher denomination notes, printing of Rs. 1 note was discontinued in November 1994. It was followed by Rs. 2 in February 1995 and Rs. in November 1995. Since then, only coins have been issued for these denominations.

15. Which is the second largest import for India after petroleum?

(1) iron and steel (2) electronic goods (3) gold (4) coal (5) engineering goods

Ans. (3) Gold is the second-largest import item for India after petroleum. Higher gold import bill adversely affects the country’s current account deficit. The government has been repeatedly asking people to desist from buying gold and instead invest in other saving instruments.

16. As per the data published by World Steel Association (WSA) for the period January - September 

2014, which of the following country has been ranked as top steel producing company in the world?

(1) China (2) South Korea (3) USA (4) India (5) Japan

Ans. (1) World Steel Association (WSA) data showed that China was the world’s top steel producer in the first eleven months of 2014, producing around 650 million tonnes (Mt) steel. China, Japan, the US and India are the world’s top four steel producing nations in that order.

17. What is the minimum amount that can be granted as overdraft under the PMJDY scheme?

(1) Rs. 10,000 (2) Rs. 25,000 (3) Rs. 50,000  (4) Rs. 1,00,000 (5) Rs. 5,000

Ans. (5) Pradhan Mantri Jan Dhan Yojana provides “Basic Banking Accounts” with overdraft facility of Rs.5000 after six months. It also provides RuPay Debit card with inbuilt accident insurance cover of Rs. 1 lakh and RuPay Kisan Card. In next phase, micro insurance & pension etc, will also be added.

18. Recently which of the schemes of Union Government has entered into Guinness Book of World 

Records?

(1) Prime Minister Jan Dhan Yojna (2) Other than those given as options

(3) Indira Awas Yojna (4) MGNREGA (5) Swacch Bharat Abhiyan

Ans. (1) The Pradhan Mantri Jan Dhan Yojana (PMJDY), in January 2015, entered into Guinness book of World Records. Guinness book of World Records gave a certificate stating it as most bank accounts opened in one week. In one week, 18,096,130 bank accounts were opened as part of the financial inclusion campaign from 23rd to 29th August, 2014.

19. Which of the following stock exchange is derecognized by SEBI in November 2014 on the 

allegation of serious irregularities in its function?

(1) Calcutta Stock Exchange (2) Delhi Stock Exchange 

(3) Madras Stock Exchange Ltd. (4) Ahmedabad Stock Exchange Ltd.

(5) Madhya Pradesh Stock Exchange Ltd.

Ans. (2) SEBI, on 20 November 2014, withdrew the recognition granted to the Delhi Stock Exchange (DSE), citing “serious irregularities” in the functioning of the bourse. It observed that activities of DSE were “carried out in a manner contrary to the interest of the investors”.

20. Amitabh Bachchan was appointed as brand ambassador of health sector by which State 

Government?

(1) Maharashtra (2) Punjab (3) Haryana (4) Andhra Pradesh (5) Gujarat

Ans. (4) Veteran Bollywood actor Amitabh Bachchan was, in January 2015, roped in as brand ambassador for health sector in Andhra Pradesh. He will promote health awareness and help build health sector and would offer his services free of cost.

21. As per RBI guidelines, banks can allow minors above ________ years to independently open 

saving bank accounts in India. (1) 16 (2) 10 (3) 14 (4) 12 (5) 8

Ans. (2) As per the RBI guidelines issued on 6 May 2014, Minors above 10 years of age can open and operate independently savings bank account and use other facilities like ATM and cheque books. RB1 took this step to promote financial inclusion and bring uniformity in opening of such accounts in banks.

22. To increase the awareness among people about all the inequalities faced by the girl child in society,  which of the following day is observed as ‘National Girl Child Day’?

(1) 8th march (2) Other than those given as options (3) 21stJanuary 

(4) 24thJanuary (5) 14th November

Ans. (4) 24 January is observed as National Girl Child Day in India. This day is being observed every year on 24 January since 2008. The Government of India has started National Girl Child Day as a national girl’s development mission.

23. During the period 2013-14 the highest FDI in India came from which of the following countries?

(1) Singapore (2) Netherlands (3) Abu Dabhi (4) UK (5) Mauritius

Ans. (1) According to a data of the Department of Industrial Policy and Promotion (DIPP), Singapore has replaced Mauritius as the top source of foreign direct investment (FDI) to India. It accounted for about 25 per cent of Ff1 inflows in 2013-14. India attracted $5.98 billion in FDI from Singapore, whereas it was $4.85 billion from Mauritius.

24. What is the slogan of ‘Pradhan Mantri Jan Dhan Yojana’?

(1) mera khata desh pehchan (2) mera khata anna daata

(3) mera khata unnati ki pehcan (4) mera khata bhagya vidhata 

(5) ek khata sabke Iiye

Ans. (4) The slogan for the Pradhan Mantri Jan I3han Yojana (PMJDY) is ‘Mera Khata — Bhagya Vidhaata.’ It is a financial inclusion scheme covering all households in the country with banking facilities, ensuring a bank account for each household.

25. Prime Minister Narendra Modi suit with his name embroidered in gold pinstripes was put on 

auction recently at which of the following cities?

(1) Varanasi (2) New Delhi (3) Surat (4) Mumbai (5) Ahmedabad

Ans. (3) Prime Minister Narendra Modi’s pinstripe suit was, in February 2015, sold off for Rs 4.31 crore at an auction in Surat. It was bought by Hitesh Laljibhai Patel, a Surat-based diamond merchant. The money will be used for the Prime Minister’s campaign to clean the river Ganga.

26. The Charlie Hebdo, a weekly magazine is published in which of the following country?

(1) Sweden (2) Germany (3) France (4) Switzerland (5) Greece

Ans. (3) Charlie Hebdo is a French satirical weekly magazine, featuring cartoons, reports, polemics, and jokes. It is based in Paris. The magazine was the target of terrorist attacks in 2015 in response to number of controversial Muhammad cartoons it published.

27. The stock market index of London Stock Exchange is referred to as __________

(1) NIKKEI 225 (2) DOWJONES (3) S&PTSX (4) FTSE100 (5) SENSEX

Ans. (4) The Financial Times Stock Exchange 100 Index, also called FTSE 100, is a share index of the 100 companies listed on the London Stock Exchange with the highest market capitalization. It is maintained by the FTSE Group, a subsidiary of the London Stock Exchange Group.

28. As per the Income Tax Law, who among the following is categorized as ‘very senior citizen’?

(1) individuals above the age of 65 (2) individuals above the age of 62 

(3) individuals above the age of 80 (4) individuals above the age of 60 

(5) individuals above the age of 75

Ans. (3) Under the Income-tax Act, 1961, a ‘Senior Citizen’ has been defined as an individual who attains the age of 60 years at any time during a financial year, while an individual who is 80 years or more is categorised as ‘Very Senior Citizen’. These categories of individuals enjoy some additional benefits under the Act.

29. As per the recent press reports which among the following banks of India appear in the top 50 

global banks in terms of market capitalization?

(1) HDFC and SBI Bank (2) ICICI and HDFC Bank (3) Bank of Baroda and SBI 

(4) Axis Bank and SBI (5) ICICI and SBI

Ans. (1) Two Indian banks, HDFC Bank and State Bank of India (581), now figure in a list of the top 50 global banks in terms of market capitalisation. HDFC Bank, India’s second- largest private lender in terms of asset size, ranks 45th, with a market capitalisation of $39 billion. With a market capitalisation of $38 billion, SBI is ranked 46th.

30. The first Indian cricketer to score century against Pakistan in World Cup is_______

(1) Sunil Gavaskar (2) Virat Kohli (3) MS. Dhoni 

(4) SachinTendulkar (5) Yuvraj Singh

Ans. (2) Virat Kohli became the first Indian batsman to score a century against Pakistan in a World Cup match in February 2015. He made a crafty 107 at the Adelaide Oval. En route his 22nd one-day international century, Kohli surpassed retired batting legend Sachin Tendulkar’s 98 in 2003 edition as the highest score by an Indian in a World Cup match against the arch-rivals.

31. What is the new name of Planning Commission?

(1) National Development agency

(2) National Institution for transforming India (NITI) Aayog 

(3) Bharat Pragati Lakshya (BPL) Aayog

(4) Naya Yojna Aayog

(5) Social Economic Development Committee

Ans. (2) NITI Aayog (National Institution for Transforming India) Aayog is a policy think-tank of Government of India that replaced Planning Commission on 1 January 2015. The Prime Minister heads the Aayog as its chairperson.

32. In Dubai International film festival 2014, which of the following artist was awarded Lifetime 

Achievement Award?

(1) Manoj Kumar (2) Asha Bhosle (3) Lata Mangeshkar (4) Amitabh Bacchan (5) Dilip Kumar

Ans. (2) Legendary playback singer Asha Bhosle was honoured with the Lifetime Achievement Award for her contribution to Indian cinema at the 2014.Dubai International Film Festival (DIFF). Acclaimed Egyptian actor Nour El Sherif also received the DIFF Lifetime Achievement Award.

33. Which of the following bank will have the highest share of capital infusion out of Rs. 6990 crores  announced by the Government recently?

(1) Punjab National Bank (2) Canara Bank (3) State Bank of India

(4) Bank of Baroda (5) ICICI

Ans. (3) Among the beneficiaries, largest public sector lender State Bank of India (SBI) leads the pack with a capitalization of Rs 2,970 crore, followed by Bank of Baroda with Rs 1,260 crore, Punjab national Bank with Rs 870 crore and Canara Bank with Rs 570 crore. The Government will infuse Rs 6,990 crore in nine public sector banks.

34. Which of the following institution has introduced RuPay debit card? 

(1) VISA (2) nPCI (3) DISCOVER (4) RBI (5) MASTER

Ans. (2) RuPay is an Indian domestic card scheme conceived and launched by the National Payments Corporation of India (NPCI). RuPay facilitates electronic payment at all Indian banks and financial institutions, and competes with Master Card and Visa in India.

35. A credit card user has to be conversant with ‘MITC’ of the issuer. What is the full form of this 

term?

(1) most indicated terms and clauses (2) other than those given as options

(3) most important terms and conditions (4) most indicated terms and conditions

(5) most important terms and clauses

Ans. (3) MITC stands for Most Important Terms and Conditions. It contains all the relevant conditions and terms which a customer should know before inking his signature. They are to be read and understood in conjunction with other conditions that apply separately.

36. Who was R.K. Laxman, who passed away recently?

(1) a fiction writer (2) a music director (3) a film director 

(4) a cartoonist (5) an actor

Ans. (4) RK. Laxman was an Indian cartoonist, illustrator, and humorist. He died in Pune on 26 January 2015. He is best known for his creation The Common Man and for his daily cartoon strip, “You Said It” in The Times of India, which started in 1951.

37. Jim Corbett National Park is situated in which State?

(1) Uttarakhand (2) Uttar Pradesh (3) Himachal Pradesh 

(4) Assam (5) Meghalaya

Ans. (1) Jim Corbett National Park is located in Nainital district of Uttarakhand. It is the oldest national park in India. It was established in 1936 as Hailey National Park to protect the endangered Bengal Tiger.

38. Which of the following micro finance company has been given a license by RBI to start a bank?

(1) Bandhan Financial Services Pvt. Ltd (2) Grameen Financial Services Pvt Ltd

(3) SKS Microfinance Ltd. (4) Janalakshami Financial services Pvt Ltd 

(5) Ujjivan Financial Services Pvt Ltd

Ans. (1) Bandhan Financial Services, on 2 April2014, became the first microfinance institution in the country to win a bank licence. The Reserve Bank of India granted “in-principle” approval for banking licences to infrastructure financing firm IDFC and Bandhan from among 25 applicants.

39. Recommendations of 7th pay commission is likely to be implemented from_______

(1) 1st Dec 2015 (2) 1st June 2015 (3) 1st April2015

(4) 1st January 2016 (5) 15th November 2015

Ans. (4) The recommendations of 7th Pay Commission are likely to be implemented with effect from January 1, 2016. As pr an announcement made on 4 February 2014, Retired Judge of the Supreme Court A.K Mathur will head the Seventh Pay Commission.

40. How many teams are playing in ICC Cricket World Cup 2015?

(1) 16 (2) 15 (3) other than those given options (4) 12 (5) 13

Ans. (3) 14 teams took part in the 2015 Cricket World Cup (11th Cricket World Cup). It was jointly hosted by Australia and New Zealand from 14 February to 29 March 2015. The fourteen teams played 49 matches in 14 venues during the tournament.