General Awareness Test - 1 - Bank Exams MCQ

The correct answer is The balance of Trade.Key PointsBalance of Trade (BOT):

• Balance of Trade (BOT) is the difference between the value of exports and value of imports of goods of a country in a given period of time.
• Export of goods is entered as a credit item in BOT, whereas import of goods is entered as a debit item in BOT.
  • It is also known as Trade Balance.
• BOT is said to be in balance when exports of goods are equal to the imports of goods.
• Surplus BOT or Trade surplus will arise if country exports more goods than what it imports.
• Whereas, Deficit BOT or Trade deficit will arise if a country imports more goods than what it exports.
• Net Invisibles is the difference between the value of exports and value of imports of invisibles of a country in a given period of time.
  • Invisibles include services, transfers and flows of income that take place between different countries.
• Services trade includes both factor and non-factor income.
  • Factor income includes net international earnings on factors of production (like labour, land and capital).
  • Non-factor income is net sale of service products like shipping, banking, tourism, software services, etc.

Additional InformationThe Balance of Payment:

• The balance of payments (BoP) record the transactions in goods, services and assets between residents of a country with the rest of the world for a specified time period typically a year.
• There are two main accounts in the BoP:
  • The current account
  • The capital account.​

The correct answer is World Bank.
Key Points

• The Ministry of Animal Husbandry, Fisheries and Dairying conducted the exercise with the World Bank.
• The two-day simulation exercise was held on June 19-20 in Bhopal, Madhya Pradesh.
• The exercise aimed to enhance preparedness for avian influenza outbreaks.
• The event included 40 participants practicing outbreak detection and rapid response strategies.

Important Points

• Such initiatives are crucial for building resilient health systems amid increasing zoonotic diseases.
• The drill was inaugurated by DAHD's Animal Husbandry Commissioner Abhijit Mitra.
• The program involved interactive scenarios mimicking real outbreak situations.
• World Bank senior agriculture economist Hikuepi Katjiuongua and World Organisation for Animal Health expert Frank Wong facilitated the simulation.

Additional Information

• World Health Organization (WHO): An international public health agency working under the United Nations to coordinate international health activities and assist governments in improving health services.
• United Nations (UN): An international organization founded in 1945 to promote peace, security, and cooperation among countries.
• International Monetary Fund (IMF): An international financial organisation.
• Avian Influenza: Type A influenza viruses often originate in aquatic birds and spread among bird species. It can spread to other mammals if mutations persist.

The correct answer is Maharastra

In News

• Maharashtra was awarded Best Agriculture State Award 2024 by the 15th Agriculture Leadership Awards Committee.

Key Points

• Chief Minister Eknath Shinde to receive the honor in New Delhi on July 10.
• Recognized for sustainable development policies focused on environmental protection and food security.
• Initiatives include bamboo cultivation, Shri Anna Abhiyan for cereals, and biomass utilization in power generation.
• Award ceremony to be held during the 15th Agriculture Leadership Conference with notable dignitaries.
• Maharashtra committed to extensive tree planting and reducing coal use by promoting biomass.
• Initiatives like the largest bamboo mission covering 21 lakh hectares and irrigation enhancement projects highlighted.

The correct answer is Shah Rukh Khan

In News

• Muthoot Pappachan Group (MPG) has appointed Shah Rukh Khan as its new brand ambassador. In his role, Khan will be seen in MPG's campaigns across multiple channels, promoting their services and financial products

Key Points

• Shah Rukh Khan will be featured in Muthoot Pappachan Group's (MPG) campaigns across multiple channels to promote their services and financial products.
• These campaigns aim to showcase a range of MPG's offerings, highlighting their commitment to revolutionizing access and streamlining convenience for all
• Khan's campaigns are likely to focus on MPG's mission of empowering the common man and making financial services accessible to all
• The campaigns will showcase MPG's range of financial products and services, highlighting their commitment to revolutionizing access and streamlining convenience

The correct answer is MANAS

In News

• The helpline is named 1933 and is known as MANAS (Madak Padarth Nisedh Asuchna Kendra).

Key Points

• It will be launched by Union Home Minister Amit Shah on July 18, 2024.
• The helpline is managed by the Narcotics Control Bureau (NCB).
• It provides a platform for citizens to report narcotics crimes and related issues confidentially.
• The service is available 24/7, ensuring accessibility for reporting drug-related matters.
• The initiative supports the government's zero tolerance policy against drug trafficking.
• An NCB zonal office in Srinagar will also be inaugurated during the launch.
• The helpline is part of a broader strategy to achieve a drug-free India by 2047.

The correct answer is United Arab Emirates.
Key Points

• The Sharjah Electricity, Water and Gas Authority (SEWA) of the United Arab Emirates received the global sustainability certificate.
• SEWA's recognition came from the international organisation "PrintReleaf Standard."
• The certificate was awarded for SEWA's efforts in sustainable development and environmental preservation.
• SEWA participated in a global reforestation programme and successfully planted 115 trees between January 1 and May 31, 2024.

Additional Information

• The United Arab Emirates is a country in West Asia, in the Middle East.
• Located at the eastern end of the Arabian Peninsula, it shares land borders with Oman to the east and Saudi Arabia to the southwest; as well as maritime borders in the Persian Gulf with Qatar and Iran.
• Capital: Abu Dhabi
• Currency: United Arab Emirates Dirham
• Government: Emirate, Monarchy, Presidential system.
• Prime minister: Mohammed bin Rashid Al Maktoum.
• President: Mohammed bin Zayed Al Nahyan.

The correct answer is 1 and 3 only.
In News

• India has been placed in the "Regular Follow-up" category by the Financial Action Task Force (FATF).

Key Points

• The Financial Action Task Force (FATF) was set up in 1989 out of a G7 meeting of developed nations in Paris.
• The FATF's initial objective was to combat money laundering, which later expanded to include terrorist financing after the 9/11 attacks on the US in 2001.
• In 2012, the FATF added efforts to counter the financing of the proliferation of Weapons of Mass Destruction (WMD).
• The FATF's recommendations are recognized globally, with over 200 jurisdictions committed to them through a network of nine FATF-Style Regional Bodies (FSRBs) and FATF memberships.
• The FATF Plenary, the decision-making body, meets three times per year to discuss various issues related to money laundering, terrorist financing, and other threats.

Additional Information

• FATF (Financial Action Task Force)
  • An intergovernmental organization established to develop policies to combat money laundering and terrorist financing.
• Money Laundering
  • The process of making large amounts of money generated by a criminal activity appear to have come from a legitimate source.
• Weapons of Mass Destruction (WMD)
  • Nuclear, radiological, chemical, biological, or other weapons that can cause widespread death and destruction.

The correct answer is option (A) i.e National Exchange for Automated Trading

• NSE is the first exchange in the world to introduce satellite communication technology for trading.
• Its trading system, called National Exchange for Automated Trading (NEAT), is a state of-the-art client server based application.
• At the server end all trading knowledge is stored in an in-memory database to get minimum response time and maximum system availability for users.
• It has up time record of 99.7%. For all businesses entered into NEAT system, there is uniform response time of less than one second.
• National Exchange for Automated Trading (NEAT) NEAT is a screen-based trading system. National Stock Exchange also have “NEAT Plus” package that provides members trading in many markets on the exchange with a single trading interface.

Answer: Kosi-Mechi intra-state link

In News

• Irrigation and Flood Mitigation are significant focus areas in the Union Budget 2024-25.

Key Points

• The Kosi-Mechi intra-state link project aims to improve irrigation and manage flood risks.
• Financial support of ₹11,500 crore has been allocated for this and other similar projects.
• Assistance for reconstruction and rehabilitation in Himachal Pradesh is also included.
• Support for flood management projects in Assam, Sikkim, and Uttarakhand.

Additional Information

• Vishnupad Temple Corridor
  • Related to tourism development initiatives.
• Bharat Small Modular Reactor
  • Part of energy security initiatives.
• Setting up of 100 weekly ‘haats’
  • Part of urban development plans.

The correct answer is bobइPay.
Key Points

• bobइPay is the new UPI payment app launched by Bank of Baroda.
• The app includes features like Scan to Pay, Send/Receive Money, UPI LITE, RuPay Credit Card on UPI, and international payments.
• It also offers a “Tap and Pay” contactless payment method using NFC technology and the UPI Global Functionality for seamless transactions while traveling internationally.
• The app will be available on Android and iOS in August 2024.

Additional Information

• Bank of Baroda launched ten digital initiatives, including an AI-powered Virtual Relationship Manager (VRM) and a new bobइPay UPI Payments app, to enhance customer service.
• Other features are simplified IMPS payments, BOB Credit Line on UPI, Baroda mDigiNext Mobile App for corporate customers, bob World Wave Smart NFC Sticker, piloting phygital branches, and Travel Debit Card with EaseMyTrip.
• Bank of Baroda is an Indian government Public sector bank.
• It is the third largest public sector bank in India.
• Based on 2023 data, it is ranked 586 on the Forbes Global 2000 list.
• Headquarters: Alkapuri, Vadodara.
• Founded: 20 July 1908, Vadodara.
• Founder: Sayajirao Gaekwad III.

The correct answer is Venus

In News

• NASA's Deep Space Network successfully transmitted Missy Elliott's hip-hop song "The Rain (Supa Dupa Fly)" to Venus, creating a historic moment in both music and space exploration.

Key Points

• This event marked the first time hip-hop music has been sent to space and the second song overall to be broadcasted into space by NASA.
• The transmission, covering 158 million miles (254 million kilometers), was facilitated by the Deep Space Station 13, nicknamed Venus, and took nearly 14 minutes to reach the planet.
• Brittany Brown from NASA highlighted the synergy between space exploration and Missy Elliott’s boundary-pushing art, noting Missy's history of space-themed music videos.
• Missy Elliott expressed her excitement, describing Venus as a symbol of "strength, beauty, and empowerment," making it a fitting recipient of her music.
• Upcoming NASA missions DAVINCI and VERITAS, along with the European Space Agency’s EnVision mission, aim to explore Venus further, using the Deep Space Network for data relay.
• The Deep Space Network, established in 1963, includes ground stations in California, Madrid, and Canberra, providing continuous communication with spacecraft exploring deep space.

The correct answer is The establishment of the India Middle East Europe Economic Corridor (IMEEC)

In News

• The establishment of the India Middle East Europe Economic Corridor (IMEEC) was a key development discussed during the first inter-ministerial meeting under the Intergovernmental Framework Agreement between India and the UAE in 2024.

Key Points

• The India Middle East Europe Economic Corridor (IMEEC) is a significant development aimed at enhancing the trade efficiency between India, the Middle East, and Europe.
• The IMEEC initiative was reinforced during a meeting between Indian and UAE officials from May 15-17, 2024, reflecting the swift action following the agreement signed in February.
• This corridor is expected to generate efficiencies and reduce costs by providing alternate supply routes for trade.
• Senior officials from various Indian ministries, including the Ministry of Shipping, Ports & Waterways, and the Ministry of Commerce and Industry, were part of the delegation.
• The delegation's discussions included key UAE entities like DP World UAE, AD Ports Group, and UAE's Federal Customs Authority, showcasing the collaborative approach towards this initiative.
• The agreement on the IMEEC was signed in the presence of Prime Minister Narendra Modi and UAE President Mohammed bin Zayed Al Nahyan, demonstrating high-level engagement and support for this project.
• This initiative is part of broader efforts to strengthen the India-UAE bilateral relationship, providing a foundation for future collaboration across several sectors.

The correct answer is 1, 2, and 3.
In News

• The total budgeted expenditure for 2024-25 is ₹48,20,512 crore.

Key Points

• The estimated fiscal deficit for 2024-25 is 4.9% of GDP.
• The capital expenditure for 2024-25 is estimated at ₹15,01,889 crore.
• The total budgeted expenditure includes both revenue and capital expenditures.
• The fiscal deficit is an important indicator of the financial health of the economy.
• Capital expenditure is crucial for long-term economic growth and infrastructure development.
• The Union Budget outlines the government's revenue and expenditure plans for the fiscal year.

Additional Information

• Fiscal Deficit
  • Difference between total revenue and total expenditure of the government.
  • Financed through borrowing.
• Capital Expenditure
  • Spending on assets such as infrastructure, buildings, and machinery.

The correct answer is ​INS Delhi

In News

• INS Delhi was named the Best Ship of the Eastern Fleet during the Fleet Awards Function held on July 14, 2024.

Key Points

• The ceremony took place in Visakhapatnam to honor tactical successes over the past year.
• INS Kavaratti received accolades as the Best Ship in the Corvettes, OPVs, and LSTs category.
• The event was attended by key naval officers, with Vice-Admiral Rajesh Pendharkar as the Chief Guest.
• The Eastern Fleet was active in protecting naval interests in the Indian Ocean Region.
• The fleet participated in various operations, including naval drills, amphibious operations, and HADR exercises.
• The awards function included a cultural program to boost morale and celebrate naval history.
• INS Delhi is a guided-missile frigate, commissioned on November 15, 1997, and is the lead ship of the Delhi class.
• The ship is equipped with advanced weaponry and electronic warfare systems, enhancing its combat capabilities.

The correct answer is Walmart and Reliance Industries.
Key Points

• Reliance Industries has secured the 86th position on the 2024 Fortune Global 500 list.
• This marks Reliance's highest rank among Indian firms on the list.
• Walmart has retained the number one spot globally on the Fortune Global 500 list for the 11th consecutive year.
• Reliance Industries reported revenues of $108.8 billion and a profit of $8.4 billion last year.

Important Points

• LIC of India ranked 95th, marking an improvement of 12 spots.
• The State Bank of India (SBI) climbed 57 places to secure the 178th position.
• Tata Motors improved its ranking by 66 places to reach the 271st position.
• Globally, Amazon rose to second place, while Saudi Aramco remained the most profitable company.

Additional Information

• Amazon: Amazon rose to the second position globally, moving up from the fourth place last year.
• Saudi Aramco: Despite slipping to fourth place globally, Saudi Aramco remained the most profitable company with $121 billion in profits.
• State Grid: The Chinese state-owned electric utility company secured the third position globally.
• Sinopec Group: This Chinese oil and gas enterprise ranked fifth on the global list.

The correct answer is ​USD 10 lakh

In News

• Prime Minister Narendra Modi inaugurated the 46th Session of the World Heritage Committee at Bharat Mandapam in New Delhi, marking India’s first time hosting this event. The session will continue until July 31.

Key Points

• Modi announced a $1 million grant from India to the UNESCO World Heritage Centre. This funding will support capacity building, technical assistance, and conservation efforts, with a focus on aiding countries in the Global South.
• Modi highlighted India's commitment to heritage conservation, noting that the government has successfully repatriated over 350 ancient heritage items. He emphasized that heritage is integral to both history and science.
• The historic Moidam in Northeast India is proposed for inclusion in the UNESCO World Heritage List, which would make it India’s 43rd World Heritage site and the first from Northeast India, recognized as a Cultural World Heritage site.
• Culture and Tourism Minister Gajendra Singh Shekhawat mentioned that the event will showcase India's rich culture, heritage, and efforts in historical preservation to international and national delegates.
• The World Heritage Committee meets annually to manage World Heritage matters, review proposals for new site nominations, assess the state of existing World Heritage sites, and discuss international assistance and fund utilization.
• The meeting will host over 2,000 delegates from more than 150 countries, discussing nominations for new sites, conservation reports, and other World Heritage-related issues.

The correct answer is India International Bullion Exchange (IIBX)

In News

• The State Bank of India (SBI) became the first bank to be a trading-cum-clearing member of India International Bullion Exchange (IIBX).

Key Points

• SBI has become a trading-cum-clearing member of IIBX at the GIFT City in Gujarat.
• This milestone allows SBI IBU Gift City to conduct trades on the IIBX platform.
• RBI guidelines permitted branches of an Indian Bank in GIFT IFSC to act as a trading member or trading and clearing member of IIBX.
• SBI's participation in IIBX enhances its role in the bullion market.

The correct answer is Annie Besant.

Key Points

• The first woman President of the Indian National Congress was Annie Besant.
• Annie Besant was selected as the first woman president of the Indian National Congress in 1917
• She was a British revolutionist, socialist, theosophist, women's rights activist, writer, orator, educationalist, and philanthropist.
• Regarded as a champion of human freedom, she was an enthusiastic supporter of both Irish and Indian self-rule.
• She was a genial and productive author with over three hundred books and pamphlets to her credit.

Additional Information

• Sarojini Naidu was the first Indian female President of the Indian National Congress.
• The first Muslim President of the Indian National Congress was Badruddin Tyabji at Madras in 1887.
• First President of the Indian National Congress was W.C. Banerjee.
• First English President was George Yule in 1888 at Allahabad.

The correct answer is Genius Box

In News

• Genius Box, a leader in DIY educational kits for children, has been acknowledged by the Bureau of Indian Standards (BIS) for its exceptional dedication to quality and branding.

Key Points

• The company has pioneered the "Play-full-learning" methodology, aiming to make learning enjoyable and engaging for children by incorporating play-based activities alongside educational content.
• Genius Box's products are designed to instill curiosity, creativity, and critical thinking, thereby imparting essential 21st-century skills including problem-solving and effective communication.
• By offering a diverse range of kits that cover various subjects from STEM to arts and crafts, Genius Box supports not just classroom learning but also homeschooling, making it a versatile tool in a child's learning journey.
• The upcoming range from Genius Box promises even more enriching experiences, emphasizing skill development and multidisciplinary learning to further enhance socio-emotional development, logical reasoning, and problem-solving skills among children.

Additional Information

• The Bureau of Indian Standards (BIS) is the National Standards Body of India, operating under the Department of Consumer Affairs, Ministry of Consumer Affairs, Food & Public Distribution, Government of India.
• It was formed on December 23, 1986, with its headquarters located at Manak Bhawan in Old Delhi.
• The motto of BIS is "मानकः पथप्रदर्शकः" (Mānakaḥ Pathapradarśakaḥ), which translates to "Standards are the guiding path" in English.
• BIS is a statutory body under the Bureau of Indian Standards Act, 1986, with Pramod Kumar Tiwari, IAS, serving as the Director General.

The correct answer is Jewellery.
Key Points

• Hallmarked Jewellery is of international standard.
• Hallmark marks have a common arrangement to identify the quality of jewelery made of platinum, gold, silver, diamond etc.
• This is guaranteed by the Government of India.

Additional Information

• ​Hallmark -
  • It is an official mark or seal put on precious metals like platinum, gold, silver etc.
  • Which is applied to certify its quality.
  • This is a system of hallmarking to prevent adulteration in jewellery.
  • Hallmarking has been in force on gold jewelery in India since 2000 and silver jewelery since 2005.

The correct answer is Nepal.

In News

• Bangladesh won the SAFF U-20 Championship 2024 by defeating Nepal 4-1 in the final.

Key Points

• This was Bangladesh’s second title in the SAFF U-20 Championship history.
• Nepal reached the final after defeating India in the semi-final.
• The match was held in Bhutan, and Bangladesh dominated with four goals.
• The SAFF U-20 Championship promotes young football talent in South Asia.

Additional Information

• India won the SAFF U-20 Championship in 2023.
• Bhutan hosted the 2024 edition of the SAFF U-20 Championship.
• Sri Lanka and the Maldives participated but were knocked out in the group stage.
• The tournament serves as a platform to groom future national team players.

The correct answer is 3.

In News

• National Sports Day is celebrated annually on August 29th to honor Major Dhyan Chand's contributions to Indian hockey.

Key Points

• Major Dhyan Chand was part of India's Olympic gold medal-winning teams in 1928, 1932, and 1936.
• He is regarded as one of the greatest hockey players in history, scoring over 400 goals in his career.
• National Sports Day was first celebrated in 2012 to promote sports culture and a healthy lifestyle in India.
• It serves as a reminder of India's sporting legacy and Major Dhyan Chand's unmatched prowess in hockey.

Additional Information

• Major Dhyan Chand was known as "The Wizard" for his exceptional skills in hockey.
• He was born on August 29, 1905, and is celebrated for his contribution to India's dominance in hockey during the early 20th century.
• The Rajiv Gandhi Khel Ratna Award, India's highest sporting honor, is awarded on National Sports Day.
• His birth anniversary is also recognized as a day to encourage youth to engage in sports activities.

Highlights of K. Chandrasekhar committee on FPIs:

• Portfolio Investment by any single investor or investor group cannot exceed 10% of the equity of an Indian company, beyond which it will now be treated as FDI.
• FIIs, Sub-Accounts and QFIs are brought together to form the new investor class, Foreign Portfolio Investors
• FPIs are permitted to invest in Government Securities with a minimum residual maturity of one year. It means, FPIs have been prohibited from investing in T-Bills.

The correct answer is Ashok Kumar Singh.

In News

• Ashok Kumar Singh assumed the charge as the Director General of the Employees’ State Insurance Corporation (ESIC) in August 2024.

Key Points

• He is an IAS officer from the 1999 batch of the Kerala cadre.
• He previously worked as Principal Secretary in the Water Resources Department of Kerala.
• Ashok Kumar Singh has experience in governance and management at the district and state levels.
• He also served in central government positions, including as Executive Director of the National Mission for Clean Ganga.

Additional Information

• ESIC: Employees’ State Insurance Corporation is under the Ministry of Labour & Employment, India.
• Amardeep Singh Bhatia: Appointed as Secretary, Department for Promotion of Industry and Internal Trade.
• Rajesh Nambiar: Appointed as President of NASSCOM in August 2024.
• Ajay Kumar Bhalla: Former Union Home Secretary, succeeded by Govind Mohan.

In News
Manipur’s T.G. English School clinched the Junior Boys title of the 63rd Subroto Cup International Football Tournament, defeating Meghalaya’s Myngken Christian Higher Secondary School 4-3 via a sudden-death tiebreaker.
Key Points

• The final match ended with a score of 4-3 in a shootout.
• The tournament took place at the prestigious Gachibowli Stadium in Hyderabad.
• It is one of India's premier inter-school football tournaments.
• Subroto Cup is named after Air Marshal Subroto Mukerjee.

Additional Information

• The Subroto Cup was first held in 1960.
• It is one of the longest-running inter-school football tournaments in India.
• The tournament is organized by the Indian Air Force.
• Teams from across the country participate in the competition.

In News
India signed a loan package of $500 million with the Asian Development Bank (ADB) for the ‘Maharashtra Tertiary Care and Medical Education Sector Development Program’.
Key Points

• The loan agreement was signed by Juhi Mukherjee, Joint Secretary of the Department of Economic Affairs, Ministry of Finance; Mio Oka, Country Director of ADB’s India Resident Mission; and Dinesh Waghmare, Principal Secretary, Medical Education and Drugs Department, Government of Maharashtra.
• The Program will establish 4 medical colleges attached to tertiary care teaching hospitals in under-served districts of Maharashtra.
• The initiative aims to increase bed capacity in government tertiary care hospitals and hire at least 500 new doctors for the new medical colleges.
• The Program incorporates climate- and disaster-resilient, gender-responsive, and socially inclusive features.

Additional Information

• Asian Development Bank (ADB)
  • The ADB is a regional development bank established in 1966 to promote social and economic development in Asia.
  • ADB provides loans, technical assistance, grants, and equity investments to promote social and economic development.

• SFIO stands for Serious Fraud Investigation Office.
• It is a statutory corporate fraud investigation agency of India.
• It has experts from various sectors including capital market, financial, accountancy, law, taxation, IT, etc.

In News
The National Florence Nightingale Awards 2024 were conferred by the President of India at Rashtrapati Bhavan.
Key Points

• The President of India, Smt. Droupadi Murmu, presented the awards to nursing professionals from across the country.
• The awards recognize extraordinary contributions in the field of nursing.
• The ceremony took place at Rashtrapati Bhavan, the official residence of the President.
• The awards are named in honor of Florence Nightingale, the founder of modern nursing.

Additional Information

• Rashtrapati Bhavan: The official residence of the President of India, located in New Delhi.
• Florence Nightingale: A British nurse and social reformer, regarded as the founder of modern nursing.
• These awards were established by the Ministry of Health and Family Welfare, Government of India.
• They are given annually to nursing professionals to acknowledge their contributions to healthcare.

In News
The 4th Intercontinental Cup concluded with Syria defeating India 3-0 in the final round-robin match.
Key Points

• The match took place at the GMC Balayogi Gachibowli Stadium, Hyderabad.
• India were the defending champions of the tournament.
• Syria displayed dominance throughout the competition.
• The tournament was held from September 3 to 9, 2024.

Additional Information

• Intercontinental Cup
  • An international men’s football tournament held annually in India.
  • It features teams from across the world.
• India’s Participation
  • India has hosted the tournament since its inception in 2018.
  • India won the 2018 and 2023 editions of the tournament.