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RBI Grade B Mock Test - 7 - Bank Exams MCQ


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30 Questions MCQ Test - RBI Grade B Mock Test - 7

RBI Grade B Mock Test - 7 for Bank Exams 2024 is part of Bank Exams preparation. The RBI Grade B Mock Test - 7 questions and answers have been prepared according to the Bank Exams exam syllabus.The RBI Grade B Mock Test - 7 MCQs are made for Bank Exams 2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests for RBI Grade B Mock Test - 7 below.
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RBI Grade B Mock Test - 7 - Question 1
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Which of the following describe(s) 'universal banking'?

Detailed Solution for RBI Grade B Mock Test - 7 - Question 1
Universal banking system provides a wide variety of financial services, including both commercial and investment services. The services can include deposit accounts, a variety of investment services and may even provide insurance services. Deposit accounts within a universal bank may include savings and checking.
RBI Grade B Mock Test - 7 - Question 2
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As per the report Six Memorandum of Understanding has signed on second day of waterways conclave 2022. This waterways conclave took place in which among the following state or Union territory?

Detailed Solution for RBI Grade B Mock Test - 7 - Question 2
Six Memorandum of Understanding (MoUs) and agreements were signed at the Waterways Conclave-2022, which concluded, in Dibrugarh, Assam in presence of Union minister of ports, shipping and waterways Sarbananda Sonowal and Assam chief minister Himanta Biswa Sarma.

Sarbananda Sonowal, Minister of Ports, Shipping and Waterways and AYUSH, Government of India will be inaugurating the Conclave.

FICCI is the industry partner of the Conclave.

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RBI Grade B Mock Test - 7 - Question 3
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The total allocation for Pradhan Mantri Awas Yojana for 2018-19 is

Detailed Solution for RBI Grade B Mock Test - 7 - Question 3
The targets for construction of houses under Pradhan Mantri Awas Yojana (PMAY) for 2018-19 were revised. Under the PMAY (Gramin), 49 lakh houses will be constructed and the outlay for the programme stands at Rs. 33,000 crores.
RBI Grade B Mock Test - 7 - Question 4
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Which among the following private sector bank has partnered with RBI's Innovation Hub to advance digital financial inclusion for women under Swanari Tech Sprint programme?
Detailed Solution for RBI Grade B Mock Test - 7 - Question 4
Private sector lender Federal Bank has teamed up with Reserve Bank Innovation Hub, a subsidiary of the central bank, as scale up partner for the second phase of Swanari Tech Sprint programme.

The term Swanari stands for Swanirbhar Nari meaning Self Reliant Lady.

This is under the aim to advance digital financial inclusion for women in India and to create digital solutions for bridging the gender gap.

RBI Grade B Mock Test - 7 - Question 5
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An account which provides a combination of savings bank and investment deposits (FD and reinvestment deposits) is known as:
Detailed Solution for RBI Grade B Mock Test - 7 - Question 5
A Flexi Fixed Deposit is a special kind of deposit scheme offered by banks in India and many countries in the world, which is a combination of demand deposit and a fixed deposit. The depositor is able to enjoy both the liquidity of savings and current accounts as well as the high returns of fixed deposits.
RBI Grade B Mock Test - 7 - Question 6
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NABARD was came into existence on _________
Detailed Solution for RBI Grade B Mock Test - 7 - Question 6
National Bank for Agriculture and Rural Development (NABARD) Established – 12th July, 1982
RBI Grade B Mock Test - 7 - Question 7
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The Reserve Bank of India set a limit time of 7 days for the card issuing banks for re-crediting the customer's account for a failed ATM transaction. What is the compensation that the banks have to pay for delays beyond working days?
Detailed Solution for RBI Grade B Mock Test - 7 - Question 7
Effective from July 1, 2011, banks have to pay compensation of Rs. 100 per day for delays in re-crediting the amount beyond 7 working days from the date of receipt of complaint for failed ATM transactions. The compensation has to be credited to the account of the customer without any claim being made by the customer. If the complaint is not lodged within 30 days of transaction, the customer is not entitled for any compensation for delay in resolving his/her complaint.
RBI Grade B Mock Test - 7 - Question 8
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Which of the following bank has recently partnered with ICICI General Insurance Company to provide Smart phone insurance?
Detailed Solution for RBI Grade B Mock Test - 7 - Question 8
Airtel Payments Bank partnered with ICICI General Insurance Company to provide Smart phone insurance that offers device financial protection from damages caused by accidents, liquid spillage, or more. The customers can get insured for a sum equal to the purchase price of their Smart phone which can be priced anywhere between the range of Rs 10,000 to Rs 1, 00,000.
RBI Grade B Mock Test - 7 - Question 9
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With the help of new advancements, banks in India have implemented various payment systems which are time and cost effective. Which of the following is NOT one of these payment systems being used by the banks in India?
Detailed Solution for RBI Grade B Mock Test - 7 - Question 9
Correct Answer: Duplex High Speed Data Service (DHSD)
RBI Grade B Mock Test - 7 - Question 10
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According to the newspaper, Hindustan Aeronautics Limited and Safran has set up Helicopter engines MRO facility in which among the following place?
Detailed Solution for RBI Grade B Mock Test - 7 - Question 10
The ground-breaking ceremony for a new facility of Helicopter Engines MRO Pvt Limited (HE-MRO), a joint venture of Hindustan Aeronautics Limited and Safran, was held at Sattari, 40 km from Panaji, Goa.

The facility will be operational by the end of 2023 with a capacity to repair 50 engines a year and a full-capacity goal of 150 engines in the coming years

An earlier planned construction of this project had to be postponed due to a "major crisis impacting the international helicopter market, closely followed by the worldwide COVID-pandemic

RBI Grade B Mock Test - 7 - Question 11
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Consider the following statements:

A. The most favoured nation principle under GATT provided that preferential trading agreements reached with one country should be extended to other countries.

B. The WTO has been able to cover in its agreements the agriculture and textile sectors which are the principal concerns for the Least Developed countries.

C. GATT was replaced by World Trade Organisation in 1995.

D. The General Agreement on Tarifs and Trade (GATT) has regulated global trade since 1947.

Which of the above given statements is/are NOT true?
Detailed Solution for RBI Grade B Mock Test - 7 - Question 11
The principal export goods for many developing countries are in agriculture and textiles, and these sectors are among the least comprehensively covered by the WTO's free trade agreements.

The World Trade Organisation (WTO) is the global body governing international trade. Member countries that do not have a free trade agreement with each other trade under WTO rules.

RBI Grade B Mock Test - 7 - Question 12
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The Negotiable Instruments Act was proclaimed in which year?
Detailed Solution for RBI Grade B Mock Test - 7 - Question 12
Negotiable Instruments Act, 1881
RBI Grade B Mock Test - 7 - Question 13
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The Government has announced the launch of skill-acquisition programme that will provide market relevant training to 3.5 crore youth. What is the name of the programme?
Detailed Solution for RBI Grade B Mock Test - 7 - Question 13
Finance Minister Arun Jaitley unveiled measures to leverage India's "huge demographic advantage" and maximise the employability potential of the youth, and also announced a Rs. 4000-crore programme 'SANKALP', aimed at providing market relevant training to 3.5 crore youth across the country.
RBI Grade B Mock Test - 7 - Question 14
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Which of the following department has been celebrating the Empowerment Week from 14th March 2022 to commemorate 75 years of progressive India?
Detailed Solution for RBI Grade B Mock Test - 7 - Question 14
The Department of Consumer Affairs is celebrating the Consumer Empowerment Week from 14th March 2022 to commemorate 75 years of progressive India and the glorious history of its people, culture and achievements as a part of Azadi Ka Amrit Mahotsav. In addition to this, all branch offices of BIS have also conducted 41 Rural Outreach Programmes on 14 March 2022 to mark the beginning of the iconic week.
RBI Grade B Mock Test - 7 - Question 15
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The Revenue Department in the Finance Ministry has imposed anti-dumping duty on import of 'Ofloxacin' used in certain infections (in 2018). Consider the following statements, and select which of it is incorrect.
Detailed Solution for RBI Grade B Mock Test - 7 - Question 15
Anti-dumping duty has been imposed on 'Ofloxacin', a pharma product used in treatment of infection from China. It was imposed for three years, following recommendations of DGAD. Anti-dumping duty acts as protectionist and counter import measure used by a country under multilateral WTO regime (and not under UN) to protect its domestic producers and marked from below cost/ cheap imports.
RBI Grade B Mock Test - 7 - Question 16
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According to London & Partners, which of the following Indian city has topped globally with $14 billion?
Detailed Solution for RBI Grade B Mock Test - 7 - Question 16
According to the London & Partners analysis of Dealroom. co-investment data, India is the second-largest global venture capital investment hub for digital shopping companies, growing by a whopping 175% from $8 billion in 2020 to $22 billion in 2021. Within India, Bengaluru tops globally with $14 billion.
RBI Grade B Mock Test - 7 - Question 17
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Under the Corporate Debt Restructuring (CDR) mechanism, loan assets of banks have been categorised. Which one of the following statements is not correct?

percent; this lot comes under Category I.
Detailed Solution for RBI Grade B Mock Test - 7 - Question 17
Category I includes a small portion of debt by a bank that might be classified as Doubtful. In that situation, if the account has been classified as Standard/Sub-standard in the books of at least 90% of creditors (by value), the same would be treated as Standard/Sub-standard, only for the purpose of judging the account as eligible for CDR.

Category II includes cases where the projects found to be viable by the creditors but the accounts could not be taken up for restructuring under the CDR system as they fell under Doubtful category.

RBI Grade B Mock Test - 7 - Question 18
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As per the 6th Monetary Policy Committee (MPC) meeting, what is the expected GDP growth rate for Q1 of FY 2023?
Detailed Solution for RBI Grade B Mock Test - 7 - Question 18
On February 8, 9 and 10, 2022, Reserve Bank of India conducted the 6th and the last Monetary Policy Committee (MPC) meeting for 2021-22.

GDP Growth:

  • The RBI has projected real GDP growth at 8 per cent for FY 2022-23.

  • The GDP growth for Q1 of FY 2022-23 is expected at 2 percent, Q2 is expected at 7 percent, Q3 is expected at 4.3 percent and Q4 is expected at 4.5 percent.

  • The first advance estimates (FAE) of national income released by the National Statistical Office (NSO) on January 7, 2022 placed India’s real gross domestic product (GDP) growth at 9.2 per cent for 2021-22, surpassing its pre-pandemic (2019-20) level.

RBI Grade B Mock Test - 7 - Question 19
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Which of the following methods is not used for financing CAD (Current Account Deficit)?
Detailed Solution for RBI Grade B Mock Test - 7 - Question 19
Even as the CAD has been high, it could be financed because of a combination of 'push' and 'pull' factors.

On the push side is the amount of surplus liquidity in the global system consequent upon the extraordinary monetary stimulus provided by advanced economy central banks.

On the pull side are the measures taken by India to attract capital flows such as liberalising FDI, expanding the limits for foreign investment in corporate debt and government debt, and easing restrictions on external commercial borrowing by corporates.

RBI Grade B Mock Test - 7 - Question 20
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Under the JIVA programme ____________ amount per hectares would be invested by the NABARD.
Detailed Solution for RBI Grade B Mock Test - 7 - Question 20
The National Bank for Agriculture and Rural Development (NABARD) launched an agroecology-based programme JIVA that will promote natural farming under its existing watershed and wadi programmes in 11 states. Under the JIVA programme Rs 50,000 per hectare will be invested & the best practices will be implemented on 200 hectares in each project & these 200 hectares will be learning and proselytizing platform to the whole village.
RBI Grade B Mock Test - 7 - Question 21
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When the Reserve Bank of India reduces the Statutory Liquidity Ratio by 50 basis points, which of the following is likely to happen?
Detailed Solution for RBI Grade B Mock Test - 7 - Question 21
The reduction in the SLR by 50 basis points means more liquidity into the system. This likely prods the banks to cut their lending rates.
RBI Grade B Mock Test - 7 - Question 22
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Janaushadhi Diwas week has been celebrated from 1st March to 7th March. This day is celebrated to bring awareness about which among the following?
Detailed Solution for RBI Grade B Mock Test - 7 - Question 22
Ministry of Chemicals and Fertilizers will organize the Janaushadhi Diwas from 1st March to 7th March 2022.

On 7th March 2022, the 4th Jan Aushadhi Diwas will be celebrated.

The objective of this day is to generate awareness about the usages of generic medicines and benefits of Jan Aushadhi Pariyojana.

The theme of 4th Janaushadhi Diwas is Jan Aushadhi-Jan Upyogi”

RBI Grade B Mock Test - 7 - Question 23
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Which of the following economic concepts is categorised on the basis of current account or capital account or both?
Detailed Solution for RBI Grade B Mock Test - 7 - Question 23
Within the BOP, there are three separate categories under which different transactions are categorised: The current account, the capital account, and the financial account.
RBI Grade B Mock Test - 7 - Question 24
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The International Olympic Committee has Withdrawn Top Olympic Honour from which among the following country?
Detailed Solution for RBI Grade B Mock Test - 7 - Question 24
The International Olympic Committee has stripped Russian President Vladimir Putin of the Olympic Order award in response to the invasion of Ukraine.

International Olympic Committee urged sports federations and organisers to exclude Russian and Belarusian athletes and officials from international events following Russia’s invasion of Ukraine.

RBI Grade B Mock Test - 7 - Question 25
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Classification of enterprises into public or private sector is based on
Detailed Solution for RBI Grade B Mock Test - 7 - Question 25
The public and private sectors are classified on the basis of who owns the assets and who is responsible for delivering the service. In the public sector, the government owns most of the assets and provides all the services. In the private sector, the ownership of assets and delivery of services is in the hands of private individuals or companies.
RBI Grade B Mock Test - 7 - Question 26
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Who has been recently appointed as the Secretary in the Union Ministry of Steel?
Detailed Solution for RBI Grade B Mock Test - 7 - Question 26
Sanjay Kumar Singh has assumed charge as the Secretary, Ministry of Steel in New Delhi. He is a 1987 batch IAS officer of Madhya Pradesh cadre. Before assuming the present post, Shri Sanjay Kumar Singh was holding the post of Secretary, Department of Administrative Reforms & Public Grievances (DARPG) and Department of Pensions & Pensioners Welfare (DoPPW).
RBI Grade B Mock Test - 7 - Question 27
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If the interest rates are decreased in the economy, it will
Detailed Solution for RBI Grade B Mock Test - 7 - Question 27
If the interest rate is decreased in an economy, people will deposit less money in the banks and borrow more money, hence money supply in the economy will increase leading to more expenditure by the people.
RBI Grade B Mock Test - 7 - Question 28
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Who has recently launched the Web Portal for PM’s Awards for Excellence in Public Administration for the year 2021-22?
Detailed Solution for RBI Grade B Mock Test - 7 - Question 28
Minister of State (Independent Charge) Earth Sciences; Dr. Jitendra Singh launched the Web Portal for PM’s Awards for Excellence in Public Administration for the year 2021-22. The Minister also added that the prize money was also doubled this year from Rs.10 lakh to Rs.20 lakh to the awarded District/Organization which is to be utilized for implementation of project/programme or bridging resource gaps in any area of public welfare. For the year 2021, the scheme for Prime Minister’s Awards for Excellence in Public Administration aims to recognize the contribution of civil servants in - Promoting “Jan Bhagidari” or Peoples’ participation in Poshan Abhiyan, Promoting excellence in sports and wellness through Khelo India scheme, Digital Payments and good governance in PM SVANidhi Yojana, Holistic Development through One District One Product scheme, Seamless, End-to-End Delivery of Services without Human Intervention.
RBI Grade B Mock Test - 7 - Question 29
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Which account(s) is/are called low-cost deposits?
Detailed Solution for RBI Grade B Mock Test - 7 - Question 29
Banks do not usually give any interest on current account deposits, and the interest on savings accounts is usually very low, 3% - 4%. For a bank, this is favourable as the institution is getting money at low cost.
RBI Grade B Mock Test - 7 - Question 30
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Recently the world-renowned paleoanthropologist-turned-conservationist, Passed away at the age of 77. What was his/her name?
Detailed Solution for RBI Grade B Mock Test - 7 - Question 30
Richard Leakey, the world-renowned paleoanthropologist-turned-conservationist, passes away at the age of 77. Richard Leakey was born on 19 December 1944 in Nairobi, British Kenya. He was Director of the National Museum of Kenya, founded the NGO Wildlife Direct and was the chairman of the Kenya Wildlife Service. Leakey was serving as chairman of the Turkana Basin Institute at Stony Brook University in New York.
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