Current Affairs MCQ for UPSC Exams – 05 June 2016

Q.1- Which one of the following groups of items is included in India’s foreign-exchange reserves?

A. Foreign-currency assets, Special Drawing Rights (SDRs) and loans from foreign countries
B. Foreign-currency assets, gold holdings of the RBI and SDRs
C. Foreign-currency assets, loans from the World Bank and SDRs
D. Foreign-currency assets, gold holdings of the RBI and loans from the World Bank

Q.2- Which of the following statements about Payment Banks is/are correct?

1. 80 percent India's transaction in cash based.
2. Payment banks can issue ATM/Debit and Credit cards
3. They must comply with the SLR (statutory liquidity ratio) and CRR (cash reserve ratio) requirements
4. Payments bank will initially be restricted to holding a maximum balance of Rs. 100,000 per individual customer.

A. 1,2 only
B. 1,3 and 4 only
C. 1,2 and 4 only
D. All

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