Banking Awareness May 2016 Banking Awareness May 2016
Banking Awareness May 2016     Friends, Following questions are based on important Banking, Economy and Finance sector news for the month of May... Banking Awareness May 2016

Banking Awareness May 2016




Following questions are based on important Banking, Economy and Finance sector news for the month of May 2016:


(Q.1) Which ratings agency has mentioned in its recent report that India’s economic growth rate will slowly accelerate to 8% by fiscal year ending March 2019, driven by the gradual implementation of structural reforms, higher disposable income and improvement in economic activity?

  1. Standard & Poor’s
  2. Fitch Group
  3. Moody’s


(Q.2) In May 2016, which public sector bank has announced the launch of mVisa, a mobile-based payment solution, which will enable customers to make payments from their smartphones, by simply scanning the unique merchant QR (Quick Response) code at merchant outlets?

  1. State Bank of India
  2. Bank of Baroda
  3. Punjab National Bank
  4. Corporation Bank


(Q.3) India jumped two places to rank number ______ in AT Kearney Foreign Direct Investment (FDI) Confidence Index 2016

  1. Number 7
  2. Number 8
  3. Number 9
  4. Number 10


(Q.4) Which among the following is the only Indian company that has been ranked among the world’s ten biggest and most powerful companies in the consumer financial services sector on a Forbes list?

  1. IDFC
  2. SIDBI
  3. LIC
  4. HDFC


(Q.5) According to a recent data, State-owned banks installed close to ______ automated teller machines (ATMs) in different parts of the country in 2015-16

  1. 14000
  2. 16000
  3. 18000
  4. 20000


(Q.6) Which among the following private sector bank has become the first financial institution in India to tie up with the BRICS Grouping-promoted New Development Bank (NDB) for a partnership in bond issuances, co-financing, treasury management and human resources?

  1. HDFC Bank
  2. ICICI Bank
  3. Yes Bank
  4. Axis Bank


(Q.7) According to a new study by The Economist, India ranked ______ in crony-capitalism with crony sector wealth accounting for 3.4 per cent of the gross domestic product (GDP)

  1. 7th
  2. 8th
  3. 9th
  4. 10th


(Q.8) Which among the following has become the first state-run bank to open an international banking unit (IBU) at the International Financial Services Centre (IFSC) in Gandhinagar?

  1. Syndicate Bank
  2. Canara Bank
  3. Indian Bank
  4. IDBI Bank


(Q.9) The Centre has allowed ______ per cent foreign direct investment (FDI) in asset reconstruction companies (ARCs) under the automatic route

  1. 100 per cent
  2. 74 per cent
  3. 49 per cent
  4. 24 percent


(Q.10) Which private sector bank has launched ‘SmartUp’, a dedicated solution for startups, to fulfil all their banking needs?

  1. Yes Bank
  2. HDFC Bank
  3. Kotak Mahindra Bank
  4. Indusind Bank


(Q.11) Mrugank Paranjape has been appointed as MD and CEO of:

  1. National Stock Exchange (NSE)
  2. Bombay Stock Exchange (BSE)
  3. Multi Commodity Exchange (MCX)
  4. National Commodity and Derivative Exchange (NCDEX)


(Q.12) Islamic Development Bank (IDB) has announced to open its first branch in India at:

  1. Mumbai, Maharashtra
  2. Kochi, Kerala
  3. Lucknow, Uttar Pradesh
  4. Ahmedabad, Gujarat


(Q.13) The Union Cabinet has approved the first-ever National Capital Goods Policy, envisaging creation of over 21 million new jobs by year __________

  1. 2025
  2. 2022
  3. 2020
  4. 2018



(Q.14) Which Swiss luxury watchmaker has roped in Cricketer Rohit Sharma as its Brand Ambassador?

  1. Tissot
  2. Hublot
  3. Omega
  4. Tag Heuer


(Q.15) Which international financial institution has launched the Pandemic Emergency Financing Facility (PEF), an innovative, fast-disbursing global financing mechanism designed to protect the world against deadly pandemics?

  1. Asian Development Bank (ADB)
  2. International Monetary Fund (IMF)
  3. World Bank
  4. Asian Development Bank (ADB)


(Q.16) The Tata Group is set to enter the ecommerce business with the launch of its online marketplace called:

  1. ‘Tata Que’
  2. ‘Tata Deal’
  3. ‘Tata Doorstep’
  4. ‘Tata CLiQ’


(Q.17) The government has notified the rules for IEPF Authority, which would help in strengthening efforts to safeguard the interest of investors. What does abbreviation IEPF stand for?

  1. Investor Education and Protection Fund
  2. Investor Earnings Protection Fund
  3. Investor Earning and Profit Fund
  4. Investor Education and Profit Fund


(Q.18) National Association of Software and Services Companies (NASSCOM) has announced its partnership with which company to build a `Product Design Initiative’ in India with an aim to support 500+ product startups on product design and train 5,000+ product designers over a period of two years?

  1. Google
  2. Apple
  3. Microsoft
  4. Facebook


(Q.19) Which public sector bank has been awarded the “Excellence Award on Empowering MSMEs 2016” instituted by the Federation of Industry, Trade and Services [FITS]?

  1. Andhra Bank
  2. Corporation Bank
  3. Allahabad Bank
  4. Bank of India


(Q.20) In May 2016, Union Commerce and Industry department approved the establishment of a National Investment and Manufacturing Zone (NIMZ) in _________ with an investment of Rs. 4241 crore

  1. Telangana
  2. Jharkhand
  3. Andhra Pradesh
  4. Odisha


(Q.21) IRCTC has entered into a pact with which airlines to help wait-listed passengers of Rajdhani trains by providing them with the option of taking an air flight to their destination by paying marginally extra?

  1. Jet Airways
  2. Spice Jet
  3. Air India
  4. Vistara Airlines


(Q.22)  Governing Council of the European Central Bank (ECB) has decided to permanently stop producing the ________ banknote due to concerns that this banknote could facilitate illicit activities

  1. Euro 100 denomination
  2. Euro 200 denomination
  3. Euro 500 denomination
  4. Euro 1000 denomination


(Q.23) Which company’s proposal to set up an IT/ITeS special economic zone in Bengaluru in an area spread over 4 hectares has been cleared by Union Govt.

  1. Tech Mahindra
  2. TCS
  3. Infosys
  4. Wipro


(Q.24) The Income Tax department has launched a special electronic grievance redressal system called _______in order to fast track taxpayer grievances and ensure early resolution of their complaints

  1. ‘e-nivaran’
  2. ‘e-nirakaran’
  3. ‘e-sahayta’
  4. ‘e-aaykar’


(Q.25) Who among the following has been awarded with the prestigious Othmer Gold Medal for his entrepreneurial leadership by the United States based Chemical Heritage Foundation?

  1. Dilip Sanghavi
  2. Mukesh Ambani
  3. Anil Ambani
  4. Cyrus Mystry


(Q.26) Which among the following has become the first state in the Northeast to introduce a financial literacy course through the National Stock Exchange (NSE) in schools?

  1. Assam
  2. Nagaland
  3. Manipur
  4. Arunachal Pradesh


(Q.27) Which private sector bank, in association with Jet Airways has announced the launch of contactless business credit card for small and mid-sized enterprises (SMEs) and their employees?

  1. HDFC Bank
  2. Yes Bank
  3. ICICI Bank
  4. Kotak Mahindra Bank



(Q.28) he Reserve Bank of India (RBI) will shortly issue banknotes of Rs 1000 denominations with inset letter _______ in both the number panels

  1. ‘I’
  2. ‘U’
  3. ‘B’
  4. ‘R’


(Q.29) Who among the following has become the new Chairman of National Stock Exchange (NSE)?

  1. Ashok Chawla
  2. Narendra Patnaik
  3. Shivanand Saxena
  4. Rakesh Iyer


(Q.30) Paytm, India’s largest mobile payments has partnered with which company to implement technology infrastructure for its upcoming Payment bank business?

  1. Infosys
  2. Wipro
  3. TCS
  4. HCL Technologies


(Q.31) Which company is in the process of setting up an LNG (liquefied natural gas) terminal at Andhra Pradesh’s Kakinada sea port with an investment of Rs 471 crore. 

  1. Reliance Industries
  2. Adani Group
  3. GMR Group
  4. Cairn India


(Q.32) Which international financial organization has approved a $625 million loan to support the Government of India’s program to generate electricity from widespread installation of rooftop solar photo-voltaic (PV)?

  1. Asian Infrastructure Investment Bank (AIIB)
  2. New Development Bank (NDB)
  3. International Monetary Fund (IMF)
  4. World Bank


(Q.33) Which Indian company  has received in-principle approval from the Bangladesh government for the first phase of a 3,000 megawatt gas-based power plant, paving the way for the largest Foreign Direct Investment in Bangladesh with a potential investment of over Rs 8,700 crore?

  1. Reliance Power
  2. Tata Power
  3. JSW Power
  4. Adani Power


(Q.34) According to the International Monetary Fund (IMF), which two countries have highest financial inequality among Asia Pacific countries?

  1. India and Japan
  2. Japan and China
  3. India and China
  4. Japan and Singapore


(Q.35) Ministry of Textiles has signed a MoU with ___________________ for popularizing India Handloom textiles as a fashionable product for youth

  1. FabIndia
  2. Future group
  3. NDTV Ethnic Retail Ltd.
  4. Trends Ethnic Retail Ltd.


(Q.36) Which public sector company is set to kickstart projects aimed at cleaning the Ganga in Bihar?

  1. Steel Authority of India Ltd.
  2. Coal India Ltd.
  3. Oil India Ltd.
  4. National Buildings Construction Corporation Ltd.


(Q.37) Abandoning the ancient concept of five-year plans that India has been following since 1951, the National Institution for Transforming India (NITI) Aayog has decided to come up with a _______ vision document in tandem with global trends and economic growth

  1. 7 year vision document
  2. 10 year vision document
  3. 15 year vision document
  4. 20 year vision document


(Q.38) Which country is set to print its own version of the US dollar in order to ease a cash shortage in the country?

  1. Nigeria
  2. Kenya
  3. Zimbabwe
  4. Liberia


(Q.39) Which Exchange will launch a new trade receivable and credit exchange platform for micro, small and medium enterprises (MSMEs)

  1. Bombay Stock Exchange (BSE)
  2. Multi Commodity Exchange (MCX)
  3. National Stock Exchange (NSE)
  4. National Commodity and Derivatives Exchange (NCDEX)


(Q.40) The government and the Reserve bank of India have been working on reducing cash transactions in the economy and in order to implement this, they have formed a committee. This committee is headed by:

  1. Neeraj Kumar Gupta
  2. Rajeev Kumar Mehra
  3. Indra Kumar Bhardwaj
  4. Nikhil Kumar Chaturvedi


Also Read:

>>> 1000+ Current Affairs Questions

>>> Banking Awareness April 2016

>>> Current RBI Monetary Policy Rates


Thank You

Team EntranceGeek