Current Affairs - Banking

Exercise :: Banking - Latest Current Affairs

  • Banking - Latest Current Affairs
61. 

What is the Current Repo Rate of India?

A. 4.4%
B. 4%
C. 3.5%
D. 3.75%

Answer: Option B

Explanation:

The Policy Repo Rate is 4.00%, Reverse Repo Rate 3.35%, Marginal Standing Facility(MSF) Rate 4.25%, Bank Rate 4.25%.

62. 

What is the projected GDP of India in FY21 as per RBI's Monetary Policy Committee(MPC) meeting(October 2020)?

A. - 9.5%
B. - 10%
C. - 7.5%
D. - 12.2%

Answer: Option A

Explanation:

The 6 member 25th Monetary Policy Committee (MPC) meeting of Reserve Bank of India(RBI) was held from October 7-9,2020 which was headed by RBI Governor Shaktikant Das.During the meeting it was projected that the economy will contract by 9.5%in 2020-2021 amid COVID -19 with risks tilted to the downside : (-)9.8% in Q2/2020-21, (-)5.6% in the third quarter, and 0.5% in the fourth quarter.

63. 

Which authority fixes sovereign gold bond issue price at Rs 5,051 per gram of gold?

A. Government of India
B. President
C. RBI
D. SEBI

Answer: Option C

Explanation:

The issue price for the sovereign gold bond has been fixed at Rs 5,051 per gram of gold, the Reserve Bank of India (RBI) said in a statement on Friday. The Sovereign Gold Bond Scheme 2020-21-Series VII will be opened for subscription from October 12 to October 16.

64. 

Which bank said that a long moratorium exceeding six months can impact the credit behaviour of borrowers and increase the risks of delinquencies post resumption of scheduled payments?

A. SEBI
B. SIDBI
C. SBI
D. RBI

Answer: Option D

Explanation:

The Reserve Bank of India, in an affidavit, filed before Supreme Court in the loan moratorium case, said that it would not be possible to give more time as a relief for sectors hit by the coronavirus pandemic. The Centre made it clear that further relief is not possible beyond waiver of interest-on-interest for certain categories of loan account having borrowing up to Rs 2 crore.

65. 

Which organisation expected India's GDP to contract by 9.6% in FY-21?

A. UNESCO
B. ADB
C. World Bank
D. WHO

Answer: Option C

Explanation:

The World Bank projected India's GDP to contract by 9.6% this FY-21, which is reflective of the national lockdown and the income shock experienced by households and firms due to the COVID-19 pandemic. The World Bank earlier in June had estimated the Indian economy to shrink by 3.2% in the current fiscal.