Turbo Series – September

MCQs - Phase 1 & Phase 2

1. Recently Parliament passes Bill to statutory status to _______________
A. Insurance regulators
B. Both A and B
C. Aviation regulators
D. Banking regulator
E. None of the above

2. Recently Parliament passes Bill to statutory status to Aviation regulators. This bill seeks a new definition
for which regulatory bodies?
A. DGCA
B. BCAS
C. AAIB
D. Only A and B
E. All A, B and C

3. Which of the following bank deploys Infosys Finacle for digital banking?
A. RBL
B. SBI
C. ICICI
D. PBL
E. HDFC

4. Recently government of India issued a notification prohibiting the export of Onion. This ban came just about
three months after the government had tweaked the__________________
A. Essential Commodities Act,1956
B. Essential Commodities Act,1955
C. Companies Act,2013
D. Essential Commodities Act,1957
E. None of the above

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Turbo Series – September

5. According to Knight Frank report, India’s rank slipped 11 places to 54th in terms ____________as housing
rates declined nearly 2 percent during the June quarter compared to the year ago period
A. Depreciation in residential prices
B. Appreciation in core sector prices
C. Appreciation in residential prices
D. Both A and B
E. Both B and C

6. RBI proposed to introduce exchange traded and over-the-counter (OTC) interest rate derivatives products.
Which of the following statement is/are incorrect about this proposal
A. Local companies with minimum net worth of 500 Cr can participate
B. Retail participate can only hedge, but non-retail can use it for any purpose
C. Exchanges to decide on design and participants; in OTC, banks and primary dealers can participate
D. FPI’s can take the exposure up to 5000 Cr all put together
E. All are correct

7. Who says Indian economy will contact to 9% in FY21?

A. IMF
B. ADB
C. WORLD BANK
D. RBI
E. OECD

8. What is the launch year of PMMY?

A. April 8, 2016
B. April 8, 2017
C. April 8, 2018
D. April 8, 2015
E. April 8, 2019

9. Under PMMY, loans for income generating activities up to___________ termed as Shishu loans
A. Rs 50000
B. Rs 500000
C. Rs 5000000
D. Rs 60000
E. Rs 600000

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Turbo Series – September

10. Under PMMY, loans for income generating activities from___________ termed as Kishore loans
A. Rs 25001 to Rs 50000
B. Rs 50,001 to Rs 5 lakh
C. Rs 1 lakh to Rs 5 Lakh
D. Rs 5 Lakh to Rs 10 lakh
E. None of the above

11. RBI has been decided to increase the permissible loan to value ratio (LTV) for loans against the pledge of
gold ornaments and jewellery for non-agriculture purposes from
A. 80% to 90%
B. 60% to 80%
C. 75% to 90%
D. 90% to 100%
E. 50% to 70%

12. SEBI recently allowed which of the following entity/entities to list on stock exchanges operational in the
International Financial Services Centre.
A. REITs
B. INVITs
C. Only A
D. Only B
E. Both A and B

13. RBI has decided to offer its employees to switch over from__________ program, acceding to long-standing
demand from employees
A. Provident fund
B. Contributory provident fund
C. Employee provident fund
D. Both A and B
E. None of the above

14. Which of the following bank has formed a new vertical called Emerging Entrepreneurs Business (EEB) to
‘’better serve’’ emerging and diversified needs ad aspirations of the unbanked and underbanked segment
A. SBI
B. ICICI
C. HDFC
D. AXIS Bank
E. None of the above

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Turbo Series – September

15. Who published study report titled Self Reliant India: Approach and Strategic Sectors to Focus?
A. EXIM Bank
B. NITI Aayog
C. RBI
D. Min. of Finance
E. Min. of Commerce and Industry

16. The share of manufacturing in India’s Gross value added (GVA) declined to 15.1 % in 2019-20, compared to
18.4 % in 2010-11. Which of the following option decipher GVA?
A. GVA= GDP+ Subsidies on products+ Taxes on products
B. GVA= GDP+ Subsidies on products- Taxes on products
C. GVA= GNP+ Subsidies on products- Taxes on products
D. GVA= GDP-Subsidies on products+ Taxes on products
E. GVA= GNP- Subsidies on products+ Taxes on products

17. What is India’s trade deficit in FY20?

A. 155.9 billion dollars
B. 156.9 billion dollars
C. 152.9 billion dollars
D. 157.9 billion dollars
E. 152.9 million dollars

18. Which of the following organization estimated that Zero-carbon economy possible by 2050, to cost only 1-
1.5% of global GDP?
A. WEF
B. WORLD BANK
C. IMF
D. OECD
E. ENERGY TRANSITION COMMISSION

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Turbo Series – September

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Four Indian cities -New Delhi, Mumbai, Hyderabad, and Bengaluru- witnessed a significant drop in their rankings
in the global listing of smart cities. This index report attributed the drop to the detrimental effect that Covid has
had where the technological advancement was not up to the date.

19. What is the name of the index report discussed in above paragraph?
A. The 2020 Global Smart City Index report
B. The 2020 World Smart City Index report
C. The 2020 City Index report
D. The 2020 Smart City Index report
E. Both A and B

20. Which of the following city has topped in the above index report?
A. Helsinki
B. Singapore
C. Auckland
D. Oslo
E. Hyderabad

21. Which of the following city has performed worst in the above index report?
A. Singapore
B. Helsinki
C. Oslo
D. Hyderabad
E. Lagos

22. What is India’s rank in ‘’The Human Capital Index 2020’’ which is released by World Bank?
A. 116th
B. 115th
C. 120th
D. 125th
E. 117th

23. According to the New World Bank country classifications by income level 2020-2021, India
remains_________________
A. Higher-Middle-Income Economy
B. Lower-Middle-Income Economy
C. Upper-Middle-Income Economy
D. Low-Income Economy
E. High-Income Economy

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Turbo Series – September

24. Govt permits up to ____ FDI under automatic route in _____ sector
A. 74%, Insurance
B. 49%, Defense
C. 26%, Defense
D. 74%, Construction
E. 74%, Defense

ICICI PRUDENTIAL MUTUAL Fund has announced the launch of ICICI PRUDENTIAL ESG, Fund an open -ended
equity scheme which encourages sustainable investing, by investing in companies which follow ESG theme.

25. What is the full form of ESG?

A. Environmental, Social and Governance
B. Equity, Social and Governance
C. Environmental, Society and Governance
D. Environmental, Social and Government
E. Environmental, Security and Governance

26. Who launched video KYC facility?

A. ICICI Bank
B. Axis Bank
C. RBL Bank
D. HDFC Bank
E. SBI

According to ICRA, the proposed divestment of majority stakes by the government in PSB’s will be credit
negative for these lenders. Most of these PSB’s have weak credit profiles and their credit ratings are primarily
supported by their sovereign ownership and stable deposit base, which in turn supported by their ownership

27. ICRA pointed out that proposed divestment of these PSB’s will require amendment under_____________
Act which provides that the government shall, at all times, hold not less than 51% of the paid capital of a
PSB
A. Banking Companies (Acquisition and Transfer of Undertakings) Act,1956/1957
B. Banking Companies (Acquisition and Transfer of Undertakings) Act,1970/1980
C. Companies Act, 1956/2013
D. Banking regulation Act, 1949
E. Both A and B

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28. According to ICRA’s estimates, cumulatively these PSB’s reported losses of_______ Crore during
_________and the government had to infuse 76,600 Crore during this period
A. 1.08 lakh Crore, FY17-FY20
B. 1.08 lakh Crore, FY15-FY20
C. 1.08 lakh Crore, FY16-FY20
D. 2.08 lakh Crore, FY16-FY20
E. 3.08 lakh Crore, FY16-FY20

29. As per FY 2019-20, India has how many preferential trade pacts with various countries and groupings?
A. 33
B. 32
C. 34
D. 35
E. 36

30. As per free trade agreements (FTA), importers need to furnish the proof of___ percent value addition in
goods from the country of origin to claim duty free trade agreements
A. 35%
B. 36%
C. 37%
D. 38%
E. 39%

31. As per SEBI circular for Mutual Funds which of following statement/statements in incorrect
A. Trustees to appoint a dedicated officer with professional qualifications
B. The person must have minimum five years’ experience in finance, or financial services-related field
C. Officer will be an employee of the trustees and directly report to them and the scope work for officer
to be specified by trustees
D. Trustees shall have standing arrangements with independent firms for special purpose audits and/or
to seek legal advice
E. All are correct

32. The FRBM 2017 rules had recommended that public debt remains under____ per cent of GDP by______
year
A. 40%, March 2023
B. 40%, March 2024
C. 60%, March 2023
D. 60%, March 2024
E. 40%, March 2025

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Turbo Series – September

33. As per Department of Economic Affairs, Ministry of Finance, the central government owes_______ to
lenders
A. 102 TRN
B. 101 TRN
C. 103 TRN
D. 104 TRN
E. 105 TRN

34. The Union government of India expanded its annual borrowing program through market loans – from
________ to ________ when the pandemic struck.
A. 7.8 trillion (budgeted), 11 trillion
B. 7.5 trillion (budgeted), 12 trillion
C. 7.8 trillion (budgeted), 12 trillion
D. 7.8 trillion (budgeted), 10 trillion
E. 7.9 trillion (budgeted), 13 trillion

35. What is/are internal liabilities of Central government?

A. Loans taken via date central government securities (G-Secs)
B. Treasury bills
C. Securities against small savings
D. Sovereign gold bond
E. All of the above

36. India currently ranks ___ among 170 countries Indebtedness

A. 171th
B. 172th
C. 173th
D. 170th
E. 174th

37. Which of the followings is/are key initiatives under POSHAN ABHIYAN?
A. Anemia free India, Home based care of newborn and young child
B. Intensified Diarrhea control fortnight and Defeat Diarrhea(d2) campaign
C. Universal Immunization Program, National De-worming Day and Mothers Absolute Affection (MAA)
& Infant Young Child Feeding
D. Early Childhood Development: focus on 1000 days and Food Fortification
E. All above are correct

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Turbo Series – September

38. As per Gazette notification 2020, Which of the following state pair pay lowest and highest minimum wages
to the workers as compared to MGNREG’s minimum rate of Rs 202 for FY21?
A. Chhattisgarh and Goa
B. Meghalaya and Haryana
C. Goa and Chhattisgarh
D. Maharashtra and Kerala
E. Maharashtra and Karnataka

39. Which of the following entity has entered into an MoU with Volt Bank, an Australian new age digital Bank
to meet the expectations of growing Indian migrants in Australia?
A. HSBC Bank
B. ICICI Bank
C. AXIS Bank
D. SBI IN AUSTRALIA
E. HDFC Bank

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Turbo Series – September

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Turbo Series – September

Answer Key

1C 21 E
2E 22 A
3D 23 B
4B 24 E
5C 25 A
6E 26 D
7B 27 B
8D 28 C
9A 29 B
10 B 30 A
11 C 31 E
12 E 32 A
13 B 33 B
14 E (Bandhan bank) 34 C
15 A 35 E
16 B 36 D
17 C 37 E
18 E 38 A
19 D 39 D
20 B

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