Economy and Banking CUET General Test MCQs

Question: The Dearness Allowance for Central government employees has been hiked by how much percent?
a) 1%
b) 2%
c) 3%
d) 4%

Answer: c

Question: Nirmala Sitharaman announced a new tax rule for taxpayers where a taxpayer can file an updated return on payment of taxes within?
a) 1 year
b) 2 years
c) 3 years
d) 4 years

Answer: b

Question: Reserve Bank Innovation Hub (RBIH) has been inaugurated in which city and what is the initial capital contribution for RBIH?
a) Mumbai; Rs 200 crore
b) Bengaluru; Rs 100 crore
c) New Delhi; Rs 200 crore
d) Chennai; Rs 100 crore

Answer: b

Question: TRIFED has collaborated with NITI Aayog to implement Van Dhan Yojana scheme in the Tribal Aspirational Districts identified by NITI Aayog. How many Tribal Aspirational Districts are there presently?
a) 29
b) 41
c) 39
d) 18

Answer: c

Question: The ‘AutoFirst’ application has been launched by which bank to offer fully automated auto loans?
a) HDFC Bank
b) ICICI Bank
c) Kotak Mahindra Bank
d) IndusInd Bank

Answer: a

Question: Which city in India has highest number of dollar-millionaire households according to the Hurun India Wealth Report 2021?
a) Bengaluru
b) Kolkata
c) Delhi
d) Mumbai

Answer: d

Question: The RBI has directed certain Non-Banking Financial Companies (NBFCs) to mandatorily implement ‘Core Financial Services Solution (CFSS)’ by
a) March 2025
b) March 2024
c) December 2024
d) September 2025

Answer: d

Question: Choose the correct statements regarding Economic Survey 2021-22
1. The central theme of Economic Survey 2021-22 is the Agile Approach.
2. The Economic Survey has predicted 8 to 8.5% GDP growth in Financial Year 2022-23.
3. India is the 3rd largest start-up ecosystem in the world after US and China.
Codes
a) 1 and 2
b) 2 and 3
c) 1, 2 and 3
d) None of thsee

Answer: c

Question: Which bank has launched feature-rich savings bank product for women named “Mahila Mitra Plus”?
a) RBL Bank
b) Karur Vysya Bank
c) Federal Bank
d) DCB Bank

Answer: c

Question: Which bank has become the first to enter in the Metaverse?
a) Barclays
b) JPMorgan
c) Citibank
d) UBS

Answer: b

Question: Which payments bank has recently gat the RBI’s approval to function as a scheduled payments bank?
a) Paytm Payments Bank
b) Airtel Payments Bank
c) NSDL Payments Bank
d) Jio Payments Bank

Answer: a

Question: LIC Cards Services (LIC CSL) has launched a contactless prepaid gift card, ‘Shagun’, in collaboration with
a) Bank of India
b) ICICI Bank
c) SBI
d) IDBI Bank

Answer: d

Question: Which company has partnered with Mastercard on Tokenisation for Card-Based Payments?
a) PhonePe
b) Paytm
c) Google Pay
d) Amazon Pay

Answer: c

Question: Which country will become the first country to adopt India’s UPI platform?
a) Nepal
b) Myanmar
c) Bangladesh
d) Sri Lanka

Answer: a

Question: Which organisation has recently launched the HARBINGER 2021 – Innovation for Transformation hackathon?
a) SEBI
b) SIDBI
c) SBI
d) RBI

Answer: d

Question: In accordance with the Bloomberg Billionaires Index, who among the following has become Asia’s richest person as on February 8, 2022?
a) Aziz Premji
b) Gautam Adani
c) Ratan Tata
d) Mukesh Ambani

Answer: b

Question: Under RBI’s new directives, what is the minimum initial capital requirement to set-up a new universal bank?
a) Rs 1000 crore
b) Rs 800 crore
c) Rs 700 crore
d) Rs 500 crore

Answer: a

Question: The RBI has granted small finance bank licence to Unity Small Finance Bank. It is a consortium of which entities?
a) Centrum and BharatPe
b) PFC Ltd. and Aditya Birla
c) Tata Capital and Bandhan
d) LIC and L&T Finance

Answer: a

Question: Bank of Baroda has launched its digital banking platform under which name to bring all banking services under one roof?
a) bob Ahead
b) bob Now
c) bob Unite
d) bob World

Answer: d

Question: How many digital banking systems will be set-up in 75 districts by Scheduled Commercial Banks?
a) 25
b) 50
c) 75
d) 100

Answer: c

Question: Match the following.

a) a-3, b-4, c-2, d-1
b) a-4, b-2, c-3, d-1
c) a-4, b-3, c-2, d-1
d) a-4, b-3, c-1, d-2

Answer: c

Question: What is the rank of India in terms of recipient of Foreign Direct Investment (FDI) inflows in the year 2020, as per the World Investment Report 2021 by the UNCTAD?
a) 3rd
b) 5th
c) 7th
d) 6th

Answer: b

Question: Who has topped the IIFL Wealth Hurun India Rich List 2021?
a) Shiv Nadar
b) Gautam Adani
c) Mukesh Ambani
d) SP Hinduja

Answer: c

Question: CBI has recently registered the biggest ever bank fraud case by which company?
a) Berger Paints
b) ABG Shipyard
c) Mercator Limited
d) Shalimar Works

Answer: b

Question: Which among the following banks in the only one left under the RBI’s PCA regime?
a) Central Bank of India
b) UCO Bank
c) Bank of Maharashtra
d) Canara Bank

Answer: a

Question: PM Modi inaugurated a special commemorative coin of what value to mark the birth anniversary of ISKCON founder Srila Bhaktivedanta Swami Prabhupada?
a) Rs 100
b) Rs 125
c) Rs 200
d) Rs 250

Answer: b

Question: Which company has launched the ‘postpe’ solution based on ‘Buy Now Pay Later (BNPL)’ platform?
a) Paytm
b) BharatPe
c) Whatsapp
d) PhonePe

Answer: b

Question: Centre has launched Pradhan Mantri Gatishakti scheme for holistic development of infrastructure sector and boosting employment. What is the approx amount that will be invested in the scheme?
a) Rs 50 trillion
b) Rs 100 trillion
c) Rs 150 trillion
d) Rs 200 trillion

Answer: b

Question: The National Digital Financial Infrastructure (NADI) is a next-generation Digital Financial Infrastructure, being build by body?
a) National Payments Corporation of India (NPCI)
b) State Bank of India (SBI)
c) NITI Aayog
d) Institute for Development and Research in Banking Technology (IDRBT)

Answer: d

Question: The RBI has announced an increase in the incentives given to commercial banks for distribution of coins per bag from September 2021. What will be the new incentive per bag?
a) Rs 45
b) Rs 65
c) Rs 75
d) Rs 135

Answer: b

Question: The SAMRIDH programme has recently been launched by which ministry to boost start-up ecosystem in India?
a) Ministry of Electronics & Information Technology
b) Ministry of Statistics and Programme Implementation
c) Ministry of Micro, Small and Medium Enterprises
d) Ministry of Health & Family Welfare

Answer: a

Question: Which of these countries has been added as a new member of the BRICS New Development Bank in December 2021?
a) Nepal
b) Italy
c) Iran
d) Egypt

Answer: d

Question: Recently Government of India has amended Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016.It will be effective from which date ?
a) July 14, 2021
b) July 19, 2021
c) July 22, 2021
d) July 24, 2021

Answer: a

Question: The government has recently enhanced the income limit of disabled dependents to be eligible for family pension for life from Ministry of Defence. What is the new limit?
a) less than 20% of the last pay drawn
b) less than 10% of the last pay drawn
c) less than 30% of the last pay drawn
d) less than 40% of the last pay drawn

Answer: c

Question: Which among these sectors have been included as MSMEs sector by government for purpose of Priority Sector Lending?
a) Retail and Wholesale trade
b) Forestry and logging
c) Fishing and aquaculture
d) Bee-keeping and production of honey and beeswax

Answer: a

Question: Which Bank has launched an initiative called ‘Salaam Dil Sey’ to pay tribute and show gratitude to doctors across the country for their tireless service during the pandemic ?
a) SBI
b) HDFC Bank
c) ICICI Bank
d) PNB

Answer: b

Question: Which of these countries have been inducted as the new member country of the New Development Bank (NDB) set-up by BRICS nation?
1. Bangladesh
2. UAE
3. Uruguay
4. Syria
5. Zimbabwe
Codes
a) 1 , 2 and 4
b) 2, 3 and 4
c) 1, 2 and 3
d) All of these

Answer: c

Question: The government has recently extended the superannuation age of LIC. Chairman.What is the revised age for the same?
a) 65 years
b) 70 years
c) 62 years
d) 60 years

Answer: c

Question: Assertion (A) India was the fifth largest recipient of FDI inflows in the world in 2021.
Reason (R) Received $ 64 billion FDI in 2020, which is an increase of 50%.
Code
a) A is true but R is false.
b) Both A and R are true and R is the correct explanation of A.
c) Both A and R are true but R is not the correct explanation of A.
d) Both A and R are false.

Answer: d

Question: Which NBFC has received approval from RBI to take over PMC bank and re-launch it as a Small Finance Bank?
a) Credila Financial Services Private Limited
b) Satin Creditcare Network Limited
c) HDB Financial Services Limited
d) Centrum Financial Services Limited

Answer: d

Question: Which financial body has signed $484 million loan with Indian government to improve transport connectivity in the Chennai–Kanyakumari Industrial Corridor (CKIC)?
a) World Bank
b) Asian Development Bank
c) International Monetary Fund
d) World Economic Forum

Answer: b

Question: NITI Aayog has recommended the names of which bank for privatisation in 2021-22?
a) Indian Overseas Bank and Punjab National Bank
b) Bank of India and Canara Bank
c) Central Bank of India and Indian Overseas Bank
d) Canara Bank and Bank of Maharashtra

Answer: c

Question: In June 2021, Union Minister Nitin Gadkari launched ‘MSME Prerna’, a first of its kind programme by
a) Canara Bank
b) SBI
c) Indian Bank
d) PNB

Answer: c

Question: Which Indian bank has joined hands with NPCI to link its digital wallet Pockets with UPI ID?
a) Canara Bank
b) SBI
c) HDFC Bank
d) ICICI Bank

Answer: d

Question: RBI has excluded Lakshmi Vilas Bank from the Second Schedule of the Reserve Bank of India Act, 1934, following the merger of the Lakshmi Vilas Bank with
a) DBS Bank India Ltd
b) HSBC Bank
c) United Overseas Bank
d) Citibank

Answer: a