Banking Awareness Quiz – 1

Check your Banking Awareness with this quiz.  You have Ten questions to answer and at the end of the quiz you will be knowing your score and you can share the quiz with your friends along with your score.

[tqb_quiz id=’34637′]

4 facts about Bitcoin you must know

What is BitCoin?
A digital currency, used to make payments of any value without fees. It runs on the blockchain, a decentralised ledger kept running by “miners” whose powerful computers crunch transactions and are rewarded in bitcoins

Who invented it?
Satoshi Nakamoto, a secretive internet user, invented bitcoin in 2008 before it went online in 2009. Many attempts to identify Satoshi have been made without conclusive proof

What’s it for?
People see value in money free from government control and the fees banks charge; as well as the blockchain, to verify transactions. Bitcoin has been seen as a tool for private, anonymous transactions, and it’s the payment of choice for drug deals and other illegal purchases

Is it worth anything?
Yes. As of December 2016, there were around 16m bitcoins in circulation. In March 2017, the value of a Bitcoin, at $1,268, exceeded that of an ounce of gold ($1,233) for the first time.

Banking Awareness and Financial affairs updates for May 04th, 2017 – for IBPS, SBI, SSC Exams

Daily financial/banking affairs updates is prepared by keeping the exam pattern and the previously asked questions in IBPS, SBI, RBI, SSC Exams. This will be useful to update your GK on daily basis.

1. Chinese-led AIIB loans $160 mn for Indian power project

Indian government’s 24×7 Power for All programme

 

The China-backed Asian Infrastructure Investment Bank (AIIB) will give a loan of $160 million for a power project in India where 300 million people have no access to electricity yet.
The project, co-financed with the World Bank, is part of the Indian government’s 24×7 Power for All programme and will strengthen the power transmission and distribution system in Andhra Pradesh.
The bank expects the Andhra Pradesh-24×7 Power for All project to be the first of many that AIIB invests in India

2. ADB pegs India’s growth at 7.4% for 2017-18

It will help create a more business-friendly environment.

 

According to the Asian Development Bank (ADB), the Indian economy will grow 7.4 per cent this fiscal and 7.6 per cent in the next as the bankruptcy and GST laws will help create a more business-friendly environment.

3. $ 770 bn black money entered India in 2005-2014: Report

Illicit Financial Flows to and from Developing Countries

 

US-based think tank Global Financial Integrity (GFI) reported that an estimated $ 770 billion in black money entered India during 2005-2014.
Titled Illicit Financial Flows to and from Developing Countries: 2005-2014, the report is the first global study to place equal emphasis on illicit outflows and inflows.

4. Centre sanctions Rs 200 crore for J&K primary teachers

Human Resource Development Minister Prakash Javadekar

 

Union Human Resource Development Minister Prakash Javadekar has announced that the Centre has sanctioned Rs 200 crore for paying pending salaries of primary teachers in Jammu and Kashmir.

5. Cabinet approves MoU on urea manufacturing plant in Malaysia

ex-post facto approval to signing of MoU with Malaysia on development of a urea and ammonia manufacturing plant

 

The Union Cabinet, chaired by Prime Minister Narendra Modi, has given its ex-post facto approval to signing of MoU with Malaysia on development of a urea and ammonia manufacturing plant in the southeast Asian country.

6. Reliance, SAP launch ‘SARAL GST’ solution for taxpayers

MoU with enterprise application software

 

Reliance Corporate IT Park (RCITPL) has signed a Memorandum of Understanding (MoU) with enterprise application software major SAP SE to launch ‘SARAL GST solution for taxpayers.
According to the subsidiary of Reliance Industries, the new offering will enable taxpayers to be GST compliant and smoothly access the government’s GST System, once GST is rolled out from July 1, 2017

7. Shabana Azmi starrer The Black Prince awarded at film fest in Houston

50th annual Worldfest-Houston International Film Festival.

 

Hollywood film The Black Prince, featuring singer-poet Satinder Sartaaj and veteran actress Shabana Azmi, has been awarded the Special Jury Remi Award at the 50th annual Worldfest-Houston International Film Festival.

 

Banking Awareness and Financial affairs updates for May 03rd, 2017 – for IBPS, SBI, SSC Exams

Daily financial/banking affairs updates is prepared by keeping the exam pattern and the previously asked questions in IBPS, SBI, RBI, SSC Exams. This will be useful to update your GK on daily basis.

1. India expected to achieve 7.1% growth this year

Economic and Social Commission for Asia and the Pacific or ESCAP

 

The UN Economic and Social Commission for Asia and the Pacific or ESCAP has launched its annual flagship report ‘The Economic and Social Survey of Asia and the Pacific 2017’
According to the report, India is expected to achieve 7.1 % growth this year as re-monetisation restores consumption, and infrastructure spending increases.

2. Space X successfully lands its Falcon 9 rocket after launching military satellite

It’s the first mission that Space X has done for the US military.

 

Space X has successfully landed it is Falcon 9 rocket on solid ground again, after launching the vehicle from Cape Canaveral, Florida. It’s the fourth time Space X has landed one of its rocket on land, and the 11th time the company has successfully recovered a rocket post – launch. It’s the first mission that Space X has done for the US military.

3. Modi releases stamp on Ramanujacharya’s 1,000th birth anniversary

Saint Ramanujacharya and said the central message

 

Prime Minister Narendra Modi on 1st May released a commemorative stamp on the 1,000th birth anniversary of Saint Ramanujacharya and said the central message of his life was inclusive society and religion.

4. India’s first ever transgender sports meet in Kerala a runaway hit

130 athletes belonging to the third sex participated

 

Kerala hosted India’s first ever athletic meet for transgenders in Thiruvananthapuram on Friday. (Twitter)
It had all the sound and fury of a mega sports event. Kerala on Friday successfully organised a sports meet for transgenders, the first of its sort in the country.
At least 130 athletes belonging to the third sex participated in the event that was well appreciated by a good crowd of onlookers at the central stadium at the heart of the state capital.

5. Dubai becomes the first city in the world to get its own Microsoft font

100 million users of Microsoft Office 365 around the world

 

Dubai has become the first city in the world to get its own Microsoft font. The font, now available to more than 100 million users of Microsoft Office 365 around the world, is the first font to be created by a city and named after it.
The font, available in three styles as ‘Dubai’, ‘Dubai Medium’ and ‘Dubai Light’, can be in italics, underlined and bold.

6. Sunil Chhetri bags ‘Hero of the League’ award

Bengaluru FC captain Sunil Chhetri

 

Bengaluru FC captain Sunil Chhetri, who smashed seven goals in the recently-concluded edition of the I-League, has clinched the most coveted ‘Hero of the League’ award.

7. Soumyajit Ghosh wins singles & doubles gold at Chile Open

ITTF World Tour tournament.

 

Ghosh became the third Indian to win a men’s singles title at an ITTF Challenge Series or ITTF World Tour tournament.
He defeated compatriot Anthony Amalraj in the men’s singles final to clinch the title. Also he combined with Amalraj earlier to win the men’s doubles title.

8.Bharti Enterprises appointed Soumen Ghosh as MD – Financial Services

Ghosh was heading the Financial Services business

 

Bharti Enterprises, one of India’s leading business groups, has appointed Soumen (Sam) Ghosh as Managing Director of Financial Services.
Prior to joining Bharti, Ghosh was heading the Financial Services business at Reliance Capital as Executive Director and Group Chief Executive Officer.

Banking Awareness and Financial affairs updates for May 01 & 2nd, 2017 – for IBPS, SBI, SSC Exams

1. India to give Rs 35 cr to Bangladesh under ‘Muktijodha scholarship’ scheme

Muktijodha Scholarship Scheme in 2006 for descendants of the 1971 Freedom Fighters.

 

India will give Rs 35 crore to children of freedom fighters in Bangladesh in the next five years under the new ‘Muktijodha scholarship’ scheme.
India initiated the Muktijodha Scholarship Scheme in 2006 for descendants of the 1971 Freedom Fighters. Until now, more than 10,000 scholarships worth Tk150 million have been disbursed.

2. Maharashtra CM inaugurated state’s 1st automatic weather station

Chief Minister Devendra Fadnavis on 2 may inaugurated the State’s first automatic weather station

 

Maharashtra Chief Minister Devendra Fadnavis on Sunday inaugurated the State’s first automatic weather station at Dongargaon in Vidarbha region.
“Around 2,065 such weather stations will come across Maharashtra on public private partnership (PPP) model this year, and 1,000 of these will be set up by June,” said Fadnavis, while addressing a farmers’ gathering after the inauguration.

3. China, Europe planning to build ‘moon village’

Launching pad for deep space missions

 

China and Europe are planning to build the first-ever “moon village” that could serve as a launching pad for deep space missions such as one to Mars, or even as a spot for space tourism and lunar mining.

4. Exhibition of Global Mobile Internet Conference held in Beijing

Conference held in Beijing.

 

The 2017 Global Mobile Internet Conference held in Beijing. It featured speakers from technology giants such as Alibaba, Baidu, Huawei and Tencent. The event is hosted annually in Beijing and Silicon Valley, California.

5. Mercedes’ Valtteri Bottas wins F1 Russian GP

This is his first Formula One victory

 

Finland’s Mercedes team driver Valtteri Bottas won his first Formula One victory after he finished first at the Russian Grand Prix, the fourth race of the 2017 F1 season.

6. Mumbai, Chennai among top 20 tourist destinations in Asia Pacific

Asia Pacific (APAC) region in a report.

 

Mumbai and Chennai have been named among the top 20 tourist destinations in the Asia Pacific (APAC) region in a report.
Overall, Bangkok remains the most visited in the list of 171 destinations across 22 countries in the APAC region.
Chennai ranked 14 with 5.2 million international overnight arrivals, while Mumbai stood 15 with 4.9 million arrivals.

7. SBI reduces term deposit rates

50 basis points for various maturities.

 

Country’s largest lender State Bank of India has cut its term deposit rates by up to 50 basis points for various maturities. The rates have been revised for medium and long term deposits and for amount below Rs one crore.

8. Donald Trump says China stopped manipulating currency after he was elected

Donald Trump has claimed that China stopped manipulating its currency

 

US President Donald Trump has claimed that China stopped manipulating its currency as soon as he assumed office. “I did say I would call China, if they were, a currency manipulator, early in my tenure. And then I get there. Number one, as soon as I got elected, they stopped. They’re not –it’s not going down anymore, their currency,”

9. The Real Estate Act, 2017

Real Estate (Regulation and Development) Act (RERA)

 

The long-awaited Real Estate (Regulation and Development) Act (RERA) will be implemented from May 1.
The Act specifies that all existing projects must be registered with the state’s regulatory authority by July 2017, and that no new project can be launched without this registration.
This enables the buyers to enforce their rights and seek redressal of grievances after such registration.

10. Scientists create solar cells from jamun

Dye Sensitised Solar Cells (DSSCs)

 

Scientists at IIT Roorkee have used the juicy, delectable Indian summer fruit Jamun to create inexpensive and more efficient solar cells.
Jamun is found as an inexpensive photosensitiser for Dye Sensitised Solar Cells (DSSCs) or Gratzel cells.
Gratzel cells are thin film solar cells composed of a porous layer of titanium dioxide (TiO2) coated photoanode.

Banking Awareness and Financial affairs updates for April 27-28th, 2017 – for IBPS, SBI, SSC Exams

Daily financial/banking affairs updates is prepared by keeping the exam pattern and the previously asked questions in IBPS, SBI, RBI, SSC Exams. This will be useful to update your GK on daily basis.

1. SAP launches solution to help SMEs

‘GST in a box’

 

Enterprise application software maker SAP launched a solution for SMEs to help them become compliant with the Goods and Services Tax (GST).
SAP has launched ‘GST in a box’, an all-inclusive solution portfolio designed to help SMEs.
SAP has committed to provide businesses with the necessary consultation and technology to efficiently adopt the GST regime through various initiatives.

2. Golden Peacock Business Award 2017

GMR Hyderabad International Airport Ltd has won

 

GMR Hyderabad International Airport Ltd has won the Golden Peacock Business Excellence Award 2017.
Golden Peacock Business Excellence Award seeks to characterize validated best management practices, as a basis for accelerating the rate of organizational improvement.
The Golden Peacock Awards were established in 1991.

3. Labour Ministry has proposed a minimum monthly income

Rs 10000 minimum monthly wage

 

The Labour Ministry has proposed a minimum monthly income of Rs.10000 for contract workers.
The move will drastically increase the minimum wages of contract labourers from around Rs.6000 per month that is paid to them in a few sectors at present.
At present, employers give the fixed minimum wages to workers for 45 economic activities.

4. YES Bank wins award

‘Golden Peacock Innovative Product Award 2017’ for innovative mobile technology.

 

YES BANK has won the prestigious ‘Golden Peacock Innovative Product/Service Award 2017’ for its innovative mobile technology product, SIMsePAY.
The Golden Peacock Awards, instituted by the Institute of Directors, India in 1991, are regarded as a benchmark of Corporate Excellence worldwide.
YES BANK is India’s fifth largest private sector Bank with a pan-India presence.

5. 10 heritage sites to be developed

The government announced 10 new iconic places

 

The government announced 10 new iconic places which would be developed as cleanliness role models under the “Swachh Bharat Mission”.
The decision to choose new places was taken at the second quarterly review meeting of the swachh iconic places, an initiative of the ministry of drinking water and sanitation under Swachh Bharat Mission.

6. e-SOT and e-PRAN card launched for Atal Pension Yojana subscribers

view to digitally empower the Atal Pension Yojana

 

With a view to digitally empower the Atal Pension Yojana (APY) subscribers and to improve the quality of service, the facility of online viewing of the statement of the transactions (e-SOT) and also the e- Permanent Retirement Account Number (e-PRAN card) have been launched.

7. Reserve Bank of India to issue new 5 and 10 coins

new 5 coins to celebrate the 150th anniversary of the Allahabad High Court.

 

The Reserve Bank of India (RBI) will soon put into circulation new 5 coins to celebrate the 150th anniversary of the Allahabad High Court. New 10 coins have also been minted to commemorate the 125th year of National Archives of India.

8. Government sanctions 1 lakh houses worth 4,200 cr for urban poor

Pradhan Mantri Awas Yojana(PMAY)

 

The Central Government has sanctioned construction of over one lakh more houses for the urban poor with an investment of Rs 4,200 crore under the Pradhan Mantri Awas Yojana(PMAY).

9. Agriculture Ministry comes up with model APMC Act to integrate agri markets

Agricultural Produce Market Committee (APMC) Act

 

The Agriculture Ministry has come up with a new model Agricultural Produce Market Committee (APMC) Act proposing single-point levy of market fee across a State and a united single trading licence for cost-effectiveness of transactions.
It has also suggested abolition of fragmentation of market with the State/Union Territory by removing the concept of notified market area insofar as enforcement of regulation by the Agricultural Produce and Livestock Market Committee (APLMC) is concerned.

10. AIIMS Becomes India’s First Public Hospital For Eye Tumours

To start plaque brachytherapy facility

 

The All India Institute of Medical Sciences (AIIMS) is India’s first public hospital to start plaque brachytherapy facility for the treatment of eye tumours
The facility is a form of local radiation delivered to the eye through a radioactive device which is attached to the eye for a temporary period of time.
The facility at the Rajendra Prasad Centre for Opthalmic Sciences will treat children suffering from a type of cancer called Retinoblastoma and adults who suffer from melanoma.

 

 

 

Banking Awareness and Financial affairs updates for April 26th, 2017 – for IBPS, SBI, SSC Exams

Daily financial/banking affairs updates is prepared by keeping the exam pattern and the previously asked questions in IBPS, SBI, RBI, SSC Exams. This will be useful to update your GK on daily basis.

1. NITI Aayog says farmers should pay income taxes

NITI Aayog member Bibek Debroy

 

NITI Aayog member Bibek Debroy proposed, at a news conference on Tuesday, that Indian farmers should start paying income tax.
Debroy opined that income-fluctuation will also be taken into account while determining the tax threshold for farmers.
The suggestion comes at a time when TN farmers are protesting to seek drought relief after failing to sustain their lands.

2. MFIN launches financial literacy app

For the benefit of microfinance clients

 

Microfinance Institutions Network (MFIN), a self-regulatory organisation and an industry association of microfinance, has launched a financial literacy mobile app for microfinance clients.
The app was launched in the capital in the presence of Meenakshi Lekhi, Member of Parliament, and Manoj Mittal, Deputy Managing Director, SIDBI.

3. NHAI to set up panel to deal with disputes

The National Highways Authority of India (NHAI)

 

The National Highways Authority of India (NHAI) has decided to constitute a high powered conciliatory committee, consisting of senior functionaries to resolve various cases relating to construction of national highways, according to its Chairman YS Malik.

4. Vistara Airlines signs MoU with Punjab govt

Vistara Airlines in collaboration with Taj Hotels

 

Vistara Airlines in collaboration with Taj Hotels has signed an MoU with the Punjab government to promote tourism in the state.
Vistara CEO Phee Teik Yeoh and Gurjot Singh Malhi, Advisor to CEO, held detailed discussion on this with Punjab Chief Minister Amarinder Singh here, an official said.

5. Viewership shifting from TV sets to laptops, mobile phones

47 per cent to 10 per cent

 

With players such as Netflix and Hotstar luring viewers with new content, consumers are shifting their viewership from TV sets to devices such as laptops and mobile phones.
According to Accenture Digital Consumer Survey, the percentage of Indian consumers who prefer watching shows on TV sets plummeted from 47 per cent to 10 per cent over the last one year.

 

 

Banking Awareness and Financial affairs updates for April 25th, 2017 – for IBPS, SBI, SSC Exams

Daily financial/banking affairs updates is prepared by keeping the exam pattern and the previously asked questions in IBPS, SBI, RBI, SSC Exams. This will be useful to update your GK on daily basis.

1. Flipkart to replace CEO for a day

With 35,000 employees,generates revenues of around $1.5 billion.

 

Flipkart is planning to replace its CEO for one day, to give an employee the opportunity to see how it feels to run the company. It is a part of the company’s 10th anniversary celebration.
Sources said the move sought to familiarize employees with challenges at different levels of management.

2. SEBI mulls on new guidelines and stringent measures

P-Notes is a Primary Target

 

SEBI is aiming to take a series of stringent measures to ensure black money flow via P-Notes are eliminated. It also aims to introduce several reform measures to smoothen current hiccups.
The board is all set to convene its first meeting under the chairmanship of Ajay Tyagi, who took charge since March 1, this year.

3. Indians send home $62.7 billion in 2016, highest globally: World Bank

$68.9 Billion in 2015

 

India retained the top spot among remittance-receiving countries despite a significant 8.9% drop in remittances in 2016.
The World Bank’s Migration and Development Brief stated remittances to developing countries fell for a second consecutive year, a trend not witnessed in three decades.
However, India also leads the countries with declined remittances with inflows amounting to $62.7 billion in 2016 from $68.9 billion in 2015.

4. Public sector banks merger could help banking system: Urjit Patel

Fewer healthy banks is better

 

RBI Governor Urjit Patel has said the Indian banking system could be better off if some public sector banks are consolidated to have fewer but healthier entities, as it would help in dealing with the problem of stressed assets.
“As many have pointed out, it is not clear that we need so many public sector banks. The system could be better off if they are consolidated into fewer but healthier banks,” Patel said while delivering the Kotak Family Distinguished Lecture at Columbia University.

5. Consultation paper on spectrum auction in 15 days: TRAI

TRAI Chairman Rs. Sharma

 

Telecom regulator TRAI expects to start the consultation process for the next round of spectrum auction in about a fortnight.
TRAI Chairman Rs. Sharma told reporters on the sidelines of FTTH APAC Conference that They expect to issue it (consultation paper on spectrum price) in about 15 days.

6. FIPB clears six FDI proposals worth ₹85-cr investments

Cabinet Committee on Economic Affairs (CCEA)

 

The Foreign Investment Promotion Board (FIPB) has approved six proposals entailing foreign direct investment (FDI) of about ₹85 crore and has recommended one proposal for approval from the Cabinet Committee on Economic Affairs (CCEA).
“The proposal involving ₹4,315 crore by Gland Pharma Ltd has been referred to the CCEA,” said an official statement on Monday.

 

 

Banking Awareness and Financial affairs updates for April 22-24th, 2017 – for IBPS, SBI, SSC Exams

Daily financial/banking affairs updates is prepared by keeping the exam pattern and the previously asked questions in IBPS, SBI, RBI, SSC Exams. This will be useful to update your GK on daily basis.

1. Fino Paytech to digitalise rural banks

5000 Aadhaar enabled micro ATMs financial inclusion gateway services

 

Fino Paytech will help NABARD to help the rural bank digitization drive in the states of Haryana, MP, Bihar, Gujarat and Maharashtra.
It will provide over 5000 Aadhaar enabled micro ATMs financial inclusion gateway services to district central cooperative banks and Primary Agricultural Credit Societies across these states.
NABARD deals with services related to agriculture.

2. Loan for India’s 1st waterway project

$375 million

 

The World Bank has approved a loan of $375 million for the ambitious inland waterways project between Haldia in West Bengal and Varanasi in Uttar Pradesh.
The 1390 km waterway project of the shipping ministry would enable commercial navigation of vessels with capacity of 1500-2000 deadweight tonnage (DWT).
It was declared as a waterway in October 1986.

3. Anti-dumping duty on hydrogen peroxide

$118 per tonne on import of hydrogen peroxide

 

India may impose anti-dumping duty of up to $118 per tonne on import of hydrogen peroxide chemical used by industries in applications such as corrosion control and paper bleaching from six countries.
This will guard domestic players from cheap imports of ‘hydrogen peroxide’ from Bangladesh, Taiwan, Korea, Indonesia, Pakistan and Thailand.

4. AU Fin converts to small finance bank

AU had network of 300 branches spread across 10 states

 

Au Financiers has converted itself to Small Finance Bank from a Non-Banking Finance Company changing its name to AU Small Finance Bank.
AU started as a NBFC and was engaged in business of commercial and personal vehicle loans, Micro, Small and Medium Enterprises loans and SME loans.
As a NBFC, AU had network of 300 branches spread across 10 states.

5. RBI signs MoU with Bank of Guyana

“Supervisory Cooperation and Exchange of Supervisory Information”

 

The RBI announced signing of an MoU with the Bank of Guyana on “Supervisory Cooperation and Exchange of Supervisory Information”.
The apex bank signed the MoU, Letter for Supervisory Co-operation and Statement of Co-operation with supervisors of a few countries to promote greater co-operation and share supervisory information.

6. Government to issue Sovereign Gold Bonds

Tenure – 8 Years
Exit Option from – 5th year

 

Government in consultation with the RBI, has decided to issue Sovereign Gold Bonds 2017-18 – Series I.
The Bonds will be sold through banks, Stock Holding Corporation of India Ltd, designated post offices and recognised stock exchanges viz., NSE and BSE.
The tenure of the Bond will be for a period of 8 years with exit option from 5th year to be

7. Govt sells 9.2% stake in Nalco

Raised over Rs 1200 crore

 

The government raised over Rs 1200 crore through the sale of 9.2% stake in Nalco as both retail and institutional investors lapped up the shares offered to them.
The first PSU disinvestment of the current fiscal, Nalco also saw the government exercising the option to retain excess subscription, called greenshoe option.