Banking Current-Affairs Quiz

40 exam-style MCQs from the latest news · fresh set daily · free & ungated

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Q1.With reference to the body in the news, consider the following statements:
1. The growth in direct tax collection is attributed to the surge in corporate tax collections.
2. The growth in direct tax collection is attributed to the growth in personal income tax (non-corporate) collections.
3. The growth in direct tax collection is attributed to a combination of corporate and personal income tax collections.
Which of the statements given above is/are correct?

Only statement 1 is correct; net corporate tax collections surged over 22% to approximately ₹2.40 lakh crore, while net personal income tax (non-corporate) collections grew by around 12% to ₹3.85 lakh crore.

Q2.With reference to the body in the news, consider the following statements:
1. India and New Zealand have elevated their economic ties to the target of ₹35,000 crore trade by 2030.
2. India and New Zealand have elevated their economic ties to the target of ₹50,000 crore trade by 2030.
3. India and New Zealand have elevated their economic ties to the target of ₹20,000 crore trade by 2030.
Which of the statements given above is/are correct?

Only statement 1 is correct; India and New Zealand have elevated their economic ties to the target of ₹35,000 crore trade by 2030.

Q3.With reference to the body in the news, consider the following statements:
1. The Shri Ram Janmabhoomi Teerth Kshetra Trust has appointed Champat Rai as the interim chief.
2. The Shri Ram Janmabhoomi Teerth Kshetra Trust has appointed Champat Rai as the interim chief and Krishna Mohan as the interim chief.
3. The Shri Ram Janmabhoomi Teerth Kshetra Trust has not appointed any interim chief.
Which of the statements given above is/are correct?

Only statement 1 is correct; the Shri Ram Janmabhoomi Teerth Kshetra Trust has appointed Champat Rai as the interim chief.

Q4.With reference to the body in the news, consider the following statements:
1. The trade deal between India and the UK is primarily about tariffs.
2. The trade deal between India and the UK is primarily about sectoral benefits.
3. The trade deal between India and the UK is primarily about both tariffs and sectoral benefits.
Which of the statements given above is/are correct?

Only statement 2 is correct; the real point is sectoral: the benefits fall squarely on labour-intensive industries that create jobs at scale.

Q5.With reference to the body in the news, consider the following statements:
1. The retail inflation has hit a 18-month high of 4.4% in June 2026.
2. The retail inflation has hit a 18-month high of 4.4% in June 2025.
3. The retail inflation has hit a 18-month high of 4.4% in June 2027.
Which of the statements given above is/are correct?

Only statement 1 is correct; retail inflation has hit a 18-month high of 4.4% in June 2026.

Q6.With reference to the body in the news, consider the following statements:
1. Swiggy Instamart has received nine notices from the FSSAI.
2. Swiggy Instamart has received nine notices from the FSSAI and has been ordered to shut down.
3. Swiggy Instamart has not received any notices from the FSSAI.
Which of the statements given above is/are correct?

Only statement 1 is correct; Swiggy Instamart has received nine notices from the FSSAI following consumer complaints over alleged sale of expired products.

Q7.With reference to the body in the news, consider the following statements:
1. High-alcohol formulations require a licence and prescription.
2. High-alcohol formulations do not require a licence and prescription.
3. High-alcohol formulations are exempt from the Schedule K exemption.
Which of the statements given above is/are correct?

Only statement 1 is correct; the health ministry has ended the Schedule K exemption for high-alcohol medicinal formulations, bringing them under Schedule H1 to curb misuse and addiction.

Q8.With reference to the body in the news, consider the following statements:
1. India and Australia have signed an agreement on uranium exports.
2. India and Australia have signed an agreement on uranium imports.
3. India and Australia have not signed any agreement on uranium exports.
Which of the statements given above is/are correct?

Only statement 1 is correct; India and Australia have signed an agreement on civil nuclear energy to facilitate the commercial supply of uranium from Australia to India to fuel New Delhi's nuclear power projects.

Q9.With reference to the body in the news, consider the following statements:
1. The US bill seeks to impose 100% tariffs on India for buying Russian oil.
2. The US bill also aims to cover China, Slovakia, Hungary, and Azerbaijan.
3. The US bill is a bipartisan initiative.
Which of the statements given above is/are correct?

Only statement 1 is correct; the US bill seeks to impose 100% tariffs on India for buying Russian oil. Statement 2 is also correct as the bill aims to cover China, Slovakia, Hungary, and Azerbaijan. Statement 3 is correct as the bill is a bipartisan initiative.

Q10.With reference to the body in the news, consider the following statements:
1. India exported over $140 million in goods duty-free to the UK on Wednesday.
2. More than fifty export consignments were flagged off from over twenty locations.
3. These shipments included electronics, pharmaceuticals, and textiles.
Which of the statements given above is/are correct?

All three statements are correct; India exported over $140 million in goods duty-free to the UK on Wednesday, more than fifty export consignments were flagged off from over twenty locations, and these shipments included electronics, pharmaceuticals, and textiles.

Q11.With reference to the body in the news, consider the following statements:
1. A decision was taken to set up a data centre park at Aloor.
2. Comprehensive facilities including uninterrupted power and water were being put in place.
3. Telangana IT and Industries Minister D. Sridhar Babu made the announcement.
Which of the statements given above is/are correct?

All three statements are correct; a decision was taken to set up a data centre park at Aloor, comprehensive facilities including uninterrupted power and water were being put in place, and Telangana IT and Industries Minister D. Sridhar Babu made the announcement.

Q12.With reference to the body in the news, consider the following statements:
1. The CCEA approved a ₹14,447.64 crore, 46 km elevated link corridor in Varanasi.
2. The project aims to dramatically reduce travel times and ease pilgrimage traffic.
3. The project features an iconic cable-stayed bridge over the Ganga.
Which of the statements given above is/are correct?

All three statements are correct; the CCEA approved a ₹14,447.64 crore, 46 km elevated link corridor in Varanasi, the project aims to dramatically reduce travel times and ease pilgrimage traffic, and the project features an iconic cable-stayed bridge over the Ganga.

Q13.With reference to the body in the news, consider the following statements:
1. The Union Cabinet approved the ₹62,500 crore Mobile Phone Manufacturing Scheme (MPMS) for five years.
2. The initiative aims to drive ₹39 lakh crore in production and create 60,000 direct jobs.
3. The scheme succeeds the previous PLI scheme.
Which of the statements given above is/are correct?

All three statements are correct; the Union Cabinet approved the ₹62,500 crore Mobile Phone Manufacturing Scheme (MPMS) for five years, the initiative aims to drive ₹39 lakh crore in production and create 60,000 direct jobs, and the scheme succeeds the previous PLI scheme.

Q14.With reference to the body in the news, consider the following statements:
1. Benchmark indices Sensex and Nifty rebounded sharply in early trade on Wednesday.
2. Positive global cues boosted investor sentiment despite foreign fund outflows.
3. The rebound was supported by gains in banking stocks.
Which of the statements given above is/are correct?

All three statements are correct; benchmark indices Sensex and Nifty rebounded sharply in early trade on Wednesday, positive global cues boosted investor sentiment despite foreign fund outflows, and the rebound was supported by gains in banking stocks.

Q15.With reference to the body in the news, consider the following statements:
1. India is inserting a new clause into its foreign trade policy.
2. The clause will allow blocking imports produced using forced labour.
3. The government will use the International Labour Organisation's definition of forced labour.
Which of the statements given above is/are correct?

All three statements are correct; India is inserting a new clause into its foreign trade policy, the clause will allow blocking imports produced using forced labour, and the government will use the International Labour Organisation's definition of forced labour.

Q16.With reference to the body in the news, consider the following statements:
1. The Employees' Provident Fund Organisation (EPFO) has invited applications from eligible establishments to avail the Amnesty Scheme, 2026.
2. The scheme provides a six-month window for provident fund (PF) trusts to regularise their accounts.
3. The scheme aims to reduce the burden on the EPFO.
Which of the statements given above is/are correct?

All three statements are correct; the Employees' Provident Fund Organisation (EPFO) has invited applications from eligible establishments to avail the Amnesty Scheme, 2026, the scheme provides a six-month window for provident fund (PF) trusts to regularise their accounts, and the scheme aims to reduce the burden on the EPFO.

Q17.With reference to the body in the news, consider the following statements:
1. The first instalment of ₹25,863 crore under VB-GRAM G was released.
2. Uttar Pradesh received the highest allocation at ₹3,210.76 crore.
3. The allocation to Kerala was ₹925.33 crore.
Which of the statements given above is/are correct?

Only statement 1 is correct; the first instalment of ₹25,863 crore under VB-GRAM G was released. Statement 2 is correct as Uttar Pradesh received the highest allocation at ₹3,210.76 crore. Statement 3 is correct as Kerala received a considerably smaller allocation of ₹925.33 crore.

Q18.With reference to the news, consider the following statements:
1. India secured fertilizer supply as 15 vessels crossed the Strait of Hormuz.
2. The shipments include 332,000 tonnes of urea across eight vessels.
3. The shipments include 257,000 tonnes of DAP on four vessels.
Which of the statements given above is/are correct?

All three statements are correct; India secured fertilizer supply as 15 vessels crossed the Strait of Hormuz, the shipments include 332,000 tonnes of urea across eight vessels, and the shipments include 257,000 tonnes of DAP on four vessels.

Q19.With reference to the news, consider the following statements:
1. The Centre withdrew most provisions of the emergency natural gas supply regulation order.
2. The order was introduced during the West Asia conflict.
3. The order was withdrawn due to the resumption of liquefied natural gas (LNG) shipments through the Strait of Hormuz.
Which of the statements given above is/are correct?

Only statement 1 is correct; the Centre withdrew most provisions of the emergency natural gas supply regulation order. Statement 2 is correct as the order was introduced during the West Asia conflict. Statement 3 is correct as the order was withdrawn due to the resumption of liquefied natural gas (LNG) shipments through the Strait of Hormuz.

Q20.With reference to the news, consider the following statements:
1. AP Minister Nara Lokesh apologised to Amara Raja.
2. Amara Raja Advanced Cell Technologies commissioned its Customer Qualification Plant (CQP) at its Giga Corridor in Mahbubnagar, Telangana.
3. The investment in the CQP was ₹500 crore.
Which of the statements given above is/are correct?

Only statement 1 is correct; AP Minister Nara Lokesh apologised to Amara Raja. Statement 2 is correct as Amara Raja Advanced Cell Technologies commissioned its Customer Qualification Plant (CQP) at its Giga Corridor in Mahbubnagar, Telangana. Statement 3 is correct as the investment in the CQP was ₹500 crore.

Q21.With reference to the news, consider the following statements:
1. NITI Aayog charts 2047 roadmap to expand India's Bioeconomy to $2.6 trillion.
2. The country must move from fragmented initiatives to a coordinated national execution architecture.
3. The BioEconomy vision by 2047 is a long-term goal.
Which of the statements given above is/are correct?

All three statements are correct; NITI Aayog charts 2047 roadmap to expand India's Bioeconomy to $2.6 trillion, the country must move from fragmented initiatives to a coordinated national execution architecture, and the BioEconomy vision by 2047 is a long-term goal.

Q22.With reference to the news, consider the following statements:
1. Rupee settles eight paise lower at 96.33 against the U.S. dollar.
2. Foreign Institutional Investor outflows put further pressure on the local unit.
3. Forex traders said that the rupee's decline is due to the rupee's weakness against the dollar.
Which of the statements given above is/are correct?

Only statement 1 is correct; Rupee settles eight paise lower at 96.33 against the U.S. dollar. Statement 2 is correct as Foreign Institutional Investor outflows put further pressure on the local unit. Statement 3 is incorrect as forex traders said that the rupee's decline is due to the rupee's weakness against the dollar.

Q23.With reference to the news, consider the following statements:
1. EPFO starts crediting 8.25% interest on PF accounts.
2. The interest rate is applicable to all PF accounts.
3. The interest rate is applicable to all PF accounts and the interest will be credited in the next month.
Which of the statements given above is/are correct?

Only statement 1 is correct; EPFO starts crediting 8.25% interest on PF accounts. Statement 2 is incorrect as the interest rate is not applicable to all PF accounts. Statement 3 is incorrect as the interest rate is applicable to all PF accounts and the interest will be credited in the current month.

Q24.With reference to the news, consider the following statements:
1. The Centre hikes windfall tax on diesel and jet fuel.
2. The windfall tax is applicable to diesel and jet fuel.
3. The windfall tax is applicable to diesel and jet fuel and the tax will be levied on the difference between the market price and the price of the fuel.
Which of the statements given above is/are correct?

Only statement 1 is correct; The Centre hikes windfall tax on diesel and jet fuel. Statement 2 is correct as the windfall tax is applicable to diesel and jet fuel. Statement 3 is incorrect as the windfall tax is applicable to diesel and jet fuel but the tax will be levied on the difference between the market price and the price of the fuel.

Q25.With reference to the body in the news, consider the following statements:
1. The Semicon Mission 2.0 aims to attract investments of around ₹4 lakh crore.
2. The scheme is expected to lead to semiconductor production worth ₹2 lakh crore during the scheme period.
3. The government expects the new scheme to lead to a significant increase in India's semiconductor production.
Which of the statements given above is/are correct?

Only statement 2 is correct; the scheme aims to attract investments of around ₹4 lakh crore and lead to semiconductor production worth ₹2 lakh crore during the scheme period.

Q26.With reference to the news, consider the following statements:
1. The rupee appreciated 5 paise to 96.11 against the US dollar in early trade on Wednesday.
2. Higher crude oil prices, foreign fund outflows, and tensions in West Asia limited the rupee's appreciation.
3. The rupee's appreciation was due to a weaker dollar.
Which of the statements given above is/are correct?

Only statement 2 is correct; higher crude oil prices, foreign fund outflows, and tensions in West Asia limited the rupee's appreciation.

Q27.With reference to the news, consider the following statements:
1. The rupee depreciated 48 paise to close at 96.16 against the US dollar.
2. Rising crude oil prices, geopolitical tensions, and increased demand for the greenback further weighed on the rupee.
3. The rupee's depreciation was due to a strong greenback.
Which of the statements given above is/are correct?

Only statement 3 is correct; the rupee's depreciation was due to a strong greenback.

Q28.With reference to the news, consider the following statements:
1. The Nagaland University-backed poultry project has reportedly enabled 60 women from five self-help groups to collectively earn over Rs 30.8 lakh.
2. The project has increased household income for the women involved.
3. The project is a government-backed initiative.
Which of the statements given above is/are correct?

Only statement 3 is correct; the project is a Nagaland University-backed initiative.

Q29.With reference to the news, consider the following statements:
1. The India-UK trade deal will become the sixth free trade agreement brought into force during the Narendra Modi government's tenure.
2. The deal will lead to an increase in India's exports to the UK.
3. The deal will benefit Indian industries.
Which of the statements given above is/are correct?

Only statement 3 is correct; the deal will benefit Indian industries.

Q30.With reference to the news, consider the following statements:
1. The Anti-Corruption Bureau registered a disproportionate assets case against an HMDA Chief Engineer.
2. The case was related to the HMDA engineer's alleged misuse of public funds.
3. The engineer was arrested in connection with the case.
Which of the statements given above is/are correct?

Only statement 3 is correct; the engineer was arrested in connection with the case.

Q31.With reference to the news, consider the following statements:
1. India's government has launched a new Index of Services Production.
2. Fourteen of nineteen formal services sub-sectors showed double-digit growth in April.
3. The Index of Services Production is a new index launched by the Reserve Bank of India.
Which of the statements given above is/are correct?

Only statement 2 is correct; fourteen of nineteen formal services sub-sectors showed double-digit growth in April.

Q32.With reference to the news, consider the following statements:
1. The event Bharat Tex 2026 will be inaugurated by the textiles minister Giriraj Singh.
2. The event is expected to draw participation from over 7,000 buyers.
3. The event will showcase more than 20,000 textile products.
Which of the statements given above is/are correct?

Only statement 3 is correct; the event will showcase more than 20,000 textile products.

Q33.With reference to the body in the news, consider the following statements:
1. It is a constitutional body established under Article 324.
2. Its members are appointed by the Prime Minister.
3. It reports to the Ministry of Home Affairs.
Which of the statements given above is/are correct?

Only statement 1 is correct; members are appointed by the President and the body is not subordinate to any ministry.

Q34.With reference to the body in the news, consider the following statements:
1. The cooperative life insurance company will expand to 500 cities.
2. The company will modernise cooperatives through PACS expansion, e-PACS, storage infrastructure, and merit-based hiring.
3. Amit Shah announced the company.
Which of the statements given above is/are correct?

All three statements are correct; the cooperative life insurance company will expand to 500 cities, the company will modernise cooperatives through various reforms, and Amit Shah announced the company.

Q35.With reference to the body in the news, consider the following statements:
1. The Enduring Legacy of Dr Syama Prasad Mookerjee is a book written by Gajendra Singh Shekhawat.
2. The book is about the institutions, ideas, and nation-building of Dr Syama Prasad Mookerjee.
3. The book is a biography of Dr Syama Prasad Mookerjee.
Which of the statements given above is/are correct?

All three statements are correct; the book is written by Gajendra Singh Shekhawat, it is about the institutions, ideas, and nation-building of Dr Syama Prasad Mookerjee, and it is a biography of Dr Syama Prasad Mookerjee.

Q36.With reference to the body in the news, consider the following statements:
1. Next Bharat Ventures will mostly come from Suzuki Motor Corporation as the anchor LP.
2. The second fund will mostly come from other corporations from Japan.
3. The second fund will be raised from other corporations from Japan and other sources.
Which of the statements given above is/are correct?

All three statements are correct; the second fund will mostly come from Suzuki Motor Corporation as the anchor LP, it will also come from other corporations from Japan, and it will be raised from other corporations from Japan and other sources.

Q37.With reference to the body in the news, consider the following statements:
1. The Rupee appreciated 17 paise to close at 95.18 against the U.S. dollar.
2. The Rupee fell 10 paise to 95.28 against the U.S. dollar.
3. The Rupee is stable against the U.S. dollar.
Which of the statements given above is/are correct?

Both statements 1 and 2 are correct; the Rupee appreciated 17 paise to close at 95.18 against the U.S. dollar, and it fell 10 paise to 95.28 against the U.S. dollar.

Q38.With reference to the body in the news, consider the following statements:
1. The Trust will meet today to decide on Champat Rai-Anil Mishra resignations amid probe into Ram temple fund theft.
2. The Trust is conducting an administrative inquiry into the alleged theft.
3. The police are also conducting a probe into the alleged theft.
Which of the statements given above is/are correct?

All three statements are correct; the Trust will meet today to decide on Champat Rai-Anil Mishra resignations amid probe into Ram temple fund theft, the Trust is conducting an administrative inquiry into the alleged theft, and the police are also conducting a probe into the alleged theft.

Q39.How many of the above statements are correct?

None of the statements are correct; the draft report of the SIR Phase I in Odisha deleted 27 lakh voters, not 20 lakh.

Q40.With reference to the body in the news, consider the following statements:
1. India and Indonesia are expected to deepen collaboration on UPI, Digital Public Infrastructure, AI, defence manufacturing and financial markets.
2. The visit will focus on UPI, defence, and digital public infrastructure partnership.
3. The visit will focus on UPI, defence, and financial markets.
Which of the statements given above is/are correct?

All three statements are correct; India and Indonesia are expected to deepen collaboration on UPI, Digital Public Infrastructure, AI, defence manufacturing and financial markets, the visit will focus on UPI, defence, and digital public infrastructure partnership, and it will also focus on UPI, defence, and financial markets.

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