Bank Current Affairs Of The World

 

Bank Current Affairs Of The World

 

Current Affairs Of The World

January 2018

1. The 48th World Economic Forum annual meeting was held in which country?

Answer: Switzerland: The 48th annual meeting of the World Economic Forum (WEF) was held in city Davos with the theme ‘Creating a Shared Future in a Fractured World’.

2. Which country will host the ministerial meeting of International Energy Forum 2018 from 10th to 12th April 2018?
Answer: India

3. The New Zealand cricketer who has become the first in the world to score 3 centuries in international T20 matches?

Answer: Colin Munro. He scored the centuries against India, Bangladesh and West Indies.

4. The World Leprosy Day was observed on?

Answer: 28th January: The day is observed internationally every year on the last Sunday of January month to raise global awareness of Leprosy.

5. Who won the Men’s Singles title at the Australian Open 2018?

Answer: Roger Federer

6. Who won the Women’s Singles title at the Australian Open 2018?

Answer: Caroline Wozniacki.

7. Which country won the 5th edition of Blind Cricket World Cup 2018 by defeating Pakistan in the final by two wickets at Sharjah in UAE?

Answer: India

8. Which country will host the 6th edition of ICC Women’s World Twenty20 2018 from 9th to 24th November 2018?

Answer: West Indies.

9. Who was named as the captain of both ICC Test and ODI teams of the year 2017?

Answer: Virat Kohli: He also won the ICC Men’s ODI Cricketer of the Year 

feb 2018

1. Which Asian country recently proposed the removal of 2-term limit for President?

Answer: China.

2. Which country was elected as vice-chair of the global money-laundering watchdog, the Financial Action Task Force (FATF)?

Answer: China

3. Which country will host the 2018 SAARC Business Leaders Conclave?

Answer: Nepal

4. Name the twenty-time Grand Slam winner who became the oldest world number one after he defeating his Dutch opponent Robin Haase in Rotterdam at the ABN Amro World Tennis Tournament on February 16, 2018?

Answer: Roger Federer

5. Which country has for the first time allowed women to join the military?

Answer: Saudi Arabia

6. Which country recently announced to impose ‘carbon tax’ from 2019 to cut its greenhouse gas emissions?

Answer: Singapore

7. Which nation topped the global Corruption Perception Index 2017?

Answer: New Zealand

8. Which gulf nation is going to host its first-ever Arab Fashion week?

Answer: Saudi Arabia

9. To combat air pollution which country has built world’s biggest air purifier – a 328 feet high tower?

Answer: China

9. Who won the ICC Test Cricketer of the Year award?

Answer: Steve Smith

10. Which country has granted citizenship to WikiLeaks founder Julian Assange?

Answer: Equador

11. Name the Singapore-based Indian-origin businessman who has been appointed as the Chairman of the Geneva-based World Business Council for Sustainable Development (WBCSD)?

Answer: Sunny Verghese

12. On which date the World Hindi Day (WHD) is observed every year to mark the first anniversary of World Hindi Conference (WHC) which was held in 1975?

Answer: 10th January

13. Which country has become the first country in the world to make equal pay for men and women?

Answer: Iceland

March 2018

1. Who was elected as the President of Myanmar?

Answer: Win Myint

2. In which nation, construction of the Arab world’s first commercial nuclear reactor has been completed?

Answer: United Arab Emirates (UAE)

3. Name the coach of Australian cricket team who announced his resignation following the ball-tampering row?

Answer: Darren Lehmann

4. Name the Australian cricketer who has been fully barred from holding any team leadership position in the future following the ball-tampering row?

Answer: David Warner

5. Name the captain of Australian cricket team who stepped down from his position after a ball-tampering row?

Answer: Steve Smith

6. Renowned Mathematician Robert Langlands, who won the 2018 Abel Prize, belongs to which country?

Answer: Canada

7. Name the captain of Australian cricket team who has been banned from playing international cricket for a period of one year by Australian Cricket Board following ball-tampering row?

Answer: Steve Smith

8. What was the theme of the 2018 World Tuberculosis Day (WTD)?

Answer: World Tuberculosis Day is celebrated on 24th March each year. It is designed to build public awareness about the global epidemic of tuberculosis (TB) and efforts to eliminate the disease.

9. Name the Russian President who was re-elected as the President of Russia by winning historic fourth term?

Answer: Vladimir Putin

10. What is the theme of World Meteorological Day 2018 observed on 23 March 2018?

Answer: Weather ready, Climate smart.

11. World Poetry Day is celebrated every year on?

Answer: 21st March

12. Against which country the United States has announced 60 billion dollar tariffs for its alleged unfair trade practices?

Answer: China

13. Which team won the 2018 Sultan Azlan Shah Trophy defeating England in the final?

Answer: Australia

14. Who has been appointed as the new National Security Adviser to US President Donald Trump?

Answer: John R Bolton

15. Name the United States based social media company which has been accused of data breach in relation to the Cambridge Analytica controversy?

Answer: Facebook

16. What was the theme of the International Forest Day 2018?

Answer: Forests and Sustainable Cities.

17. Name the Afghan cricket player who has become the youngest captain in international cricket at the age of 19 years 165 days?

Answer: Rashid Khan

18. World Water Day was observed across the world on?

Answer: 22nd March

April 2018

1. In which country International Buddhist Conference 2018 was held?

Answer: Nepal

2. Which African country recently made it legal to produce marijuana for medicinal and scientific purposes?

Answer: Zimbabwe

3. Which country is not a full member of the Shanghai Cooperation Organisation (SCO)?

Answer: Israel

4. World Malaria Day is observed every year on?

Answer: 25th April

5. What was the theme of the 2018 World Malaria Day?

Answer: Ready to beat malaria.

6. Which country received the highest remittances of 69 billion dollars from its diaspora in the year 2017?

Answer: India

7. Who won the Paraguay Presidential Elections 2018?

Answer: Mario Abdo Benitez

8. Which Asian country has agreed to halt its nuclear tests and ICBM launches?

Answer: North Korea

9. World Earth Day is observed every year on?

Answer: 22nd April

10. What was the theme of 2018 World Earth Day?

Answer: End Plastic Pollution

11. World Book and Copyright Day is observed every year on?

Answer: 23rd April

12. 8th South Asian Judo Championship was held in which country?

Answer: Nepal

13. Which mission was launched by NASA of USA to discover new planets outside the solar system?

Answer: Transiting Exoplanet Survey Satellite (TESS)

14. The world’s first female foreign ministers meeting will be held in which country?

Answer: Canada

15. Who has been chosen as the new chief of US space agency, NASA?

Answer: Jim Bridenstine

16. Which country recently proposed an Indian-Nepal-China economic corridor with multi-dimensional connectivity through the Himalayas?

Answer: China

17. Who won the 2018 Pulitzer Prize for Public Service?

Answer: The New York Times and The New Yorker.

Practice Questions:

Q 1: Which among the following is not correct?

A) Jim Bridenstine is the chief of NASA.

B) Mario Abdo Benitez won the Paraguay Presidential Elections 2018.

C) International Buddhist Conference 2018 was held in India.

D) 8th South Asian Judo Championship was held in Nepal.

Ans: C) International Buddhist Conference 2018 was held in India.

Major Functions Of Banks

Major Functions Of Banks

In any banking exam, the knowledge of the structure and the major functions of banks is very crucial for a good score. Banking is an extremely important part of our economics too. Banks are those organizations that collect money from “customers” for the purpose of investments while providing the customers with an interest rate. In banking exams like the IBPS PO, SO and other graduate-level exams like the SSC exams, this section comes under the heading of the professional knowledge. However, in the section below, we will be only discussing the major functions of the bank. Let us start.

Major Functions Of Banks

Both in the mains section of SSB, IBPS, SBI, and other similar exams, we have a section titled as professional knowledge. In this section, the questions specific to the post that the candidate has applied for are usually put forth. Even in the personal interview phase, the major focus is on the banking awareness of the candidate. The functions of any bank in India are of two types that we shall discuss further below viz – The primary Functions and the Secondary Functions.

The Primary Functions Of A Bank

The primary functions of a bank are two:

1. Accepting Deposits: Deposits are the amount of money that a customer hands over to the bank. This is known as making a deposit. The deposits are of a few types namely: Saving Deposit, Fixed Deposit, Current Deposit, and the Recurrent Deposit. The various deposit schemes are based on the type of deposit and the frequency of depositing. For example, in a fixed deposit a definite sum is handed over to the bank for a few years. The interest is only compounded if the deposit term is complete. Providing these services of the deposit is one of the primary functions of a bank. So what happens if you need money? Shouldn’t that also be a primary function of the bank? Well, let us see further.

Saving/ Fixed/ Current Deposit

In a saving deposit, the amount and the rate of interest are low. Withdrawals are also allowed but only in a limited number. The account is suitable for people who want to save on salaries and similar sources of income.

Similarly, the fixed deposit is a fixed sum that one gives to the bank for a certain agreed time. The withdrawals are not allowed before the completion of the time of the fixed deposit. On the other hand, the current account or deposit, there is no interest paid by the bank and the customer can withdraw or deposit any number of times.

Now let us see the other secondary function:

2. Granting Loans and Advances: The bank lends people money on a time-interest basis. Each loan amount is passed by the bank after due consideration and securing the bank’s profit. The bank also gives advances to its customers. These are also the primary functions of the banks. The bank provides the services of an overdraft, cash credits, loans, and discounting of the bill of exchange.

The banks also take part in what we call the secondary functions of the bank.

Secondary Functions Of The Bank

The secondary functions of the Bank are either selling gold coins to the public or selling insurance products and selling mutual fund products etc. Let us make a more formal study. Following are the important secondary functions of the Banks:

1. Agency Functions: The bank is an agent for its customers in a way that it invests on behalf of its customers. Acting as the agent of the customer the bank may transfer funds, the collection of cheques, periodic payments, portfolio management, periodic collections, and several other agency functions. All of these functions are the secondary functions of the bank.
2. General Utility Functions: The bank also performs several utility functions. Some of the most important utility functions of the banks may include the issue of drafts, letter of credits, etc., locker facility, underwriting of shares, dealing in foreign exchange, project reports, social welfare programs, other utility functions. The banks also provide several services like the safe deposit locker facilities, safe custody facilities, and Demat accounts. The opening of Demat accounts allows the account holder to trade in the stock exchange or the money market directly. The customer that holds a Demat account can directly buy or sell shares from the capital market.

The General Utility Functions are also called as Social development functions. In some areas, the banks will help you with all the transactions that you will have to do during a course of time. For example, you will be able to pay your phone, electricity and other utility bills from a center that is run by the banks. This sums up the functions of the banks.

Practice Questions

Q 1: You take your mom’s jewelry to the local bank and ask them to keep it safe for you. With reference to this act, choose the incorrect statement from the following:

A) This will come with the primary functions of the bank and you will not be charged for the services.

B) Providing safety deposit boxes is a secondary function of the bank and thus you must be charged.

C) The act constitutes a secondary service that the bank offers.

D) Both B) and C).

Ans: A) This will come with the primary functions of the bank and you will not be charged for the services.