Banking & Financial Awareness Quiz: Part 21

(1). Who is the MD & CEO of Indian Overseas Bank?
(a) N V Srinivasan
(b) Bishyadip Dey
(c) R Subramania Kumar
(d) M Rajeshwar Rao




(2). Recently, which of the following country has recognised 'Bitcoin' as Currency?
(a) Russia
(b) Australia
(c) China
(d) Japan


(3). ClearTax has launched tech platform for helping in the implementation of which of the following Indian tax law?
(a) GST
(b) Income-Tax Act, 1961
(c) The Foreign Exchange Management Act, 1999 (FEMA)
(d) Foreign Exchange Regulation Act (FERA)


(4). Who is the new CEO of Larsen & Toubro (L&T)?
(a) S.P. Balasubramanyam
(b) S.N. Subrahmanyan
(c) M Teresa Kho
(d) R Rajeshwar


(5). Manappuram Finance is going to launch a co-branded prepaid card with which of the following Bank?
(a) ICICI
(b) HDFC
(c) SBI
(d) Yes Bank


(6). Who is the new chairman of the Karnataka Bank?
(a) P Jayarama Bhat
(b) Mahabaleshwara MS
(c) Sunita Sharma
(d) B Venugopal


(7). Which International Financial Organization has approved a loan for India’s first waterway project?
(a) International Monetary Fund
(b) Asian Development Bank
(c) New Development Bank
(d) World Bank


(8). What is 'R' stands for in "GRAF"(related to Public Sector Banks)?
(a) Rate
(b) Rating
(c) Reward
(d) None of the Above


(9). Data centre of which of the following bank has become India's first CII-IGBC Platinum rated project?
(a) ICICI
(b) SBI
(c) Punjab National Bank
(d) Bank of Baroda


(10). Who is the new Chief of the National Association of Software and Services Companies (Nasscom)?(a) Aziz Premji
(b) Raman Roy
(c) Rishad Premji
(d) CP Gurnani

EXPLANATION:

(1). Answer Key: (c)
Mr. R. Subramania Kumar has been the Chief Executive Officer and Managing Director of Indian Overseas Bank since November 11, 2016.

(2). Answer Key: (d)
Bitcoin has finally gained the recognition of a mainstream currency along the lines of other fiat currencies. The privilege follows the implementation of a new law in Japan which categorises Bitcoin as a legal payment option within the country. The much-awaited law went into effect on April 1, 2017.

(3). Answer Key: (a)
ClearTax has launched a first-of-its-kind multiGSP (GST Suvidha Provider) taxation solution and the software will be adept to handle over 1 billion invoices, which is expected to be generated after the GST rollout. GSTN, the company that is tasked with building the world’s biggest and most complex tax framework, has short- listed 34 companies to be the GST Suvidha Provider.

(4). Answer Key: (b)
The Board of Directors of Larsen & Toubro (L&T) on Friday elevated S.N. Subrahmanyan as chief executive officer and managing director from the position of deputy managing director and president of the company and appointed Anil Manibhai Naik as nonexecutive chairman with effect from October 1, 2017, for a period of three years.

(5). Answer Key: (d)
In its efforts to promote digital financial transactions, the Kerala-based NBFC Manappuram Finance will launch its own cobranded prepaid card in tie-up with YES Bank. The 'Manappuram YES Bank Prepaid Money Card' can be pre-loaded up to a maximum amount of Rs.50,000 and then be used to withdraw money from all ATMs.

(6). Answer Key: (a)
Karnataka Bank Ltd has announced top-level management changes with the present Managing Director and Chief Executive Officer (MD and CEO) of the bank, P Jayarama Bhat, assuming the charge of part-time nonexecutive Chairman of the bank.

(7). Answer Key: (d)
The World Bank has approved a $375 million loan to India’s first waterway project.

(8). Answer Key: (c)
To prime public sector banks (PSBs) to hold their own against nifty private sector rivals and also prepare them for possible mergers in the future, the Bank Boards Bureau (BBB) has drawn up an elaborate Governance, Reward and Accountability Framework (GRAF).

(9). Answer Key: (a)
The ICICI Bank Data Centre in Hyderabad has achieved the distinction of becoming the country's first Platinum rated project under IGBC Green Data Centre Rating System. IGBC Green Data Centre Rating System would facilitate in providing tremendous tangible and intangible benefits. Tangible benefits include: 20 to 25 per cent reduction in Power Usage Effectiveness, 25 to 30 per cent reduction in water consumption.

(10). Answer Key: (b)
The National Association of Software and Services Companies (Nasscom) appointed Raman Roy, managing director of Quatrro Global Services, as its chairman for 2017- 2018. Rishad Premji, chief strategy officer, Wipro Limited has been appointed Vice Chairman.

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