International finance & institutions - Banking awareness questions on current affairs
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1) On which day the New Development Bank (NDB) floated by the BRICS nations, including India started its operations at its headquarters in Shanghai?
- Published on 08 Sep 15
a. 20th July’15
b. 1st July’15
c. 21st July’15
d. 19th July’15
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Answer
Explanation
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ANSWER: 21st July’15
Explanation:
Chinese Finance Minister Lou Jiwei, Shanghai Mayor Yang Xiong and the bank's President K V Kamath attended the opening ceremony. Kamath will be the bank's President for the first five years.
NDB was step up for infrastructure funding in the emerging economies formally
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2) Which of the following is the correct definition of Hot Money?
- Published on 20 Jul 15
a. This is the fund which is dumped into a country to get the advantage of a favourable interest rate
b. This is the fund which is provided by a bank in US $ at very short notice and at a very high rate of interest and for a longer period of repayment
c. This is the fund which is pushed into market through illegal methods
d. None of the above
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Explanation
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ANSWER: This is the fund which is dumped into a country to get the advantage of a favourable interest rate
Explanation:
It can move in and out of the market very quickly leading to market instability.
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3) Where is the Bank of International Settlement headquartered?
- Published on 20 Jul 15
a. Belgium
b. France
c. Germany
d. Switzerland
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4) Which one of the following is the special drawing right given by the International Monetary Fund to its member countries?
- Published on 20 Jul 15
a. Cold money
b. Hot money
c. Paper gold
d. None of these
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ANSWER: Paper gold
Explanation:
It is an accounting entry. It is used only among governments and IMF for balance of payment settlements.
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5) Which one of the following does not belong to regulatory bodies in India?
- Published on 20 Jul 15
a. FMC
b. IRDA
c. PFRDA
d. SEBI
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Answer
Explanation
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ANSWER: SEBI
Explanation:
Reserve Bank of India, Insurance Regulatory and Development Authority, Forward Market Commission India, Pension Fund Regulatory and Development Authority are the regulatory bodies in India.
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6) When was the Export Credit Guarantee Corporation of India established?
- Published on 20 Jul 15
a. 1938
b. 1957
c. 1973
d. 1971
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Answer
Explanation
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ANSWER: 1957
Explanation:
On 30 July 1957, Export Credit Guarantee Corporation of India Ltd. ( ECGC ) was established. It provides export credit insurance facilities to exporters and banks in India. It functions under the administrative control of Ministry of Commerce & Industry.
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7) When was the Indian Mercantile Insurance established?
- Published on 20 Jul 15
a. 1907
b. 1938
c. 1957
d. 1973
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Answer
Explanation
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ANSWER: 1907
Explanation:
The first company to transact all classes of general insurance business was the Indian Mercantile Insurance.
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8) When was Life Insurance sector nationalised?
- Published on 20 Jul 15
a. 1834
b. 1907
c. 1938
d. 1956
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Answer
Explanation
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ANSWER: 1956
Explanation:
Life Insurance Corporation came into existence in 1956.
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9) Which of the following is the Federal regulatory agency that charters and supervises Federal credit unions?
- Published on 20 Jul 15
a. AIRCSC
b. ARC
c. CAG
d. NCUA
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Answer
Explanation
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ANSWER: NCUA
Explanation:
NCUA stands for National Credit Union Administration.
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10) What is the full form of LIBOR?
- Published on 20 Jul 15
a. Local Indian Bank Offered Rate
b. London-India Bureau Of Regulations
c. Liberal International Bank Official Ratio
d. London Inter Bank Offered Rate
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Answer
Explanation
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ANSWER: London Inter Bank Offered Rate
Explanation:
The London Inter Bank Offered Rate is the average interest rate estimated by leading banks in London.
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