GK for Banking Examinations Practice Questions part-2

Important current affairs and Gk questions for Bank exams, IBPS, SBI and all other finance industy exams

General Knowledge; Current Affairs with special reference to the Banking and Finance Industry of India for IBPS Banking , RBI, SBI and other Banking Recruitment Examinations of 2013 and 2014.If you like the post kindly give rating.

33. Approximately, how many Foreign Institutional Investors are registered in India as of April 2013?
[A]1100
[B]1300
[C]1700
[D]2200

As on April 26, the number of registered FIIs in the country stood at 1,766 and total number of sub-accounts were 6,372.

34. Approximately, what fraction of India’s total exports is contributed by the Micro, Small and Medium Enterprises (MSME) sector ?
[A]20%
[B]30%
[C]40%
[D]45%

Micro, Small and Medium Enterprises (MSME) sector contributes about 40 percent in the country’s total exports and over 8 percent to India’s Gross Domestic Product (GDP).

35. As of April 2013, which among the following carriers has the largest market share in Domestic air passenger traffic ?
[A]IndiGo
[B]SpiceJet
[C]Air India
[D]Jet Airways

On a standalone basis, IndiGo had the largest market share of 27.4 percent, followed by SpiceJet (20.4 percent), Air India’s domestic operations (20.2), Jet Airways (17.7 percent), Go Air (8.1 percent) and Jetlite (6.1 percent).

36. Which among the following panels have recently recommended the pricing of natural gas by a complex methodology of arriving at an average of international gas hub prices?
[A]B K Chaturvedi Panel
[B]C Rangrajan Panel
[C]Raghuram Rajan
[D]Parliamentary Panel headed by Yashwant Sinha

The panel headed by C Rangarajan, Chairman of Prime Minister’s Economic Advisory Council, had suggested a complex methodology to replace current gas prices. In first step, weighted average of prices prevailing at US Henry Hub, National Balancing Point of UK and netback wellhead of price of supplies into

Japan was to be derived. This was to then be averaged out with actual cost of imported LNG into India. This formula has not found favour with user ministries of power and fertiliser as well as the finance ministry.

37. In India, the Chit funds are governed / Regulated by ___?
[A]RBI
[B]Central Government
[C]State Governments
[D]Local Bodies

Chit funds in India are governed by the Chit Funds Act, 1982. Under this Act, the chit fund businesses can be registered and regulated only by the respective State Governments. Regulator of chit funds is the Registrar of Chits appointed by respective state governments under Section 61 of Chit Funds Act. Powers of adjudication vest in the Registrar and the state government concerned is the Appellate authority. In case of failure of a chit fund business, the responsibility for winding up such a business also vests with the respective State Governments. Moreover, the Prize chits and money circulation schemes are illegal and are banned under the Prize Chits and Money Circulation Schemes (Banning) Act, 1978. Powers of investigation under this Act are vested with the concerned state police authorities.

38. To make recommendations on the devolution of taxes, the 14th Finance Commission has been directed to use the Census figures of __:
[A]1971
[B]1981
[C]1991
[D]2001

Population base will be figures as of 1971 in all cases where population is a factor for determination of devolution of taxes and duties and grants-in-aid; however, the Commission may also take into account the demographic changes that have taken place subsequent to 1971.

39. At present India is world’s biggest exporter of which among the following commodities?
1. Tea
2. Coffee
3. Sugar
4. Guar gum
Choose the correct option from the codes given below:
[A]Only 1
[B]Only 1 & 3
[C]Only 3 & 4
[D]Only 4

Guar gum is extracted from guar seed, production of which is expected to be 14 lakh tonne in 2012-13, slightly lower than 17 lakh tonnes in 2011-12. India is the world’s biggest exporter of the commodity.

40. How many drugs have been listed in the National List of Essential Medicines (NLEM)?
[A]245
[B]348
[C]423
[D]367

There are 348 drugs listed under National List of Essential Medicines (NLEM).

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