Topic-wise Solved Papers for IBPS/ SBI Bank PO/ Clerk Prelim & Main Banking / Economy/ General Awareness EBD_9075 • Corporate Office : 45, 2nd Floor, Maharishi Dayanand Marg, Corner Market, Malviya Nagar, New Delhi-110017 Tel. : 011-49842349 / 49842350 Typeset by Disha DTP Team DISHA PUBLICATION ALL RIGHTS RESERVED © Copyright Publisher No part of this publication may be reproduced in any form without prior permission of the publisher. The author and the publisher do not take any legal responsibility for any errors or misrepresentations that might have crept in. We have tried and made our best efforts to provide accurate up-to-date information in this book. For further information about the books from DISHA, Log on to www.dishapublication.com or email to [email protected] CONTENTS Current Affairs 2018 2018-1-16 Past Year Question from 2017 2017-1-16 1. Banking System in India & World 1-4 2. Banking Structure & Instrument 5-10 3. Banking Functions 11-18 4. Banking Products 19-22 5. Money & Finance in Banking 23-30 6. Marketing & Computer in Banking 31-84 7. General Knowledge 85-95 8. Current Affairs 96-107 EBD_9075 Current Affairs 2018 UNION BUDGET 2018-19 S. No. Years/Segments 2016-2017 2017-2018 Budget 2017-2018 2018-2019 Actuals Estimates Revised Estimates Budget Estimates 1 Revenue Receipts 1374203 1515771 1505428 1725738 2 Tax Revenue (Net to Centre) 1101372 1227014 1269454 1480649 3 Non-Tax Revenue 272831 288757 235974 245089 4 Capital Receipts1 600991 630964 712322 716475 5 Recovery of Loans 17630 11933 17473 12199 6 Other Receipts 47743 72500 100000 80000 7 Borrowings and Other Liabilities 535618 546531 594849 624276 8 Total Receipts (1+4) 1975194 2146735 2217750 2442213 9 Total Expenditure (10+13) 1975194 2146735 2217750 2442213 10 On Revenue Account of which 1690584 1836934 1944305 2141772 11 Interest Payments 480714 523078 530843 575795 12 Grants in Aid for creation of capital 165733 195350 189245 195345 assets 13 On Capital Account 284610 309801 273445 300441 14 Revenue Deficit (10-1) 316381 321163 438877 416034 (2.1) (1.9) (2.6) (2.2) 15 Effective Revenue Deficit (14-12) 150648 125813 249632 220689 (1.0) (0.7) (1.5) (1.2) 16 Fiscal Deficit 535618 546531 594849 624276 [9-(1+5+6)] (3.5) (3.2) (3.5) (3.3) 17 Primary Deficit (16-11) 54904 23453 64006 48481 (0.4) (0.1) (0.4) (0.3) 1 Excluding receipts under Market Stabilisation Scheme 2 Includes drawdown of Cash Balance Notes: (i) GDP for BE 2018-2019 has been projected at ` 18722302 crore assuming 11.5% growth over the estimated GDP of ` 16784679 crore for 2017-18 (RE). (ii) Individual items in this document may not sum up to the totals due to rounding off. (iii) Figures in parenthesis are as a percentage of GDP. EBD_9075 2018-2 Current Affairs 2018 Rupee Comes From (Budget 2018-2019) Borrowings & (Budget 2017-18) Other Liabilities 19 p. Non-Debt Capital 19 p. 3 p. Receipts 3 p. 10 p. 19 p. Non-Tax Revenue 10 p. 8 p. Corporation- 14 p. 16 p. Tax 19 p. 9 p. Goods and Service Tax & Other Taxes 23 p. Income-Tax 16 p. Union Excise Customs Duties 4 p. 8 p. Notes: 1. Total receipts are inclusive of States’ share of taxes and duties which have been netted in the table on page 1. 2. Represents Service tax and other taxes in BE 2017-18. BUDGET PROFILE (In` lakh crore) General Small Savings and Services 1.02 State Provident Fund 0.92 Economic Services Food Central Subsidy Non Debt Capital Receipts 0.92 2.27 1.69 Sector 2.95 Market Schemes Petroleum Loans 7.09 Debt Social 0.25 4.07 Others Receipts Services 0.45 Fertiliser 0.31 6.24 Scheme 0.70 Capital Expenditure Others 0.40 Others 1.25 Receipts (CS+CSS) Centrally Core 7.16 10.15 Sponsored Schemes Schemes 2.28 3.06 Core of the core Schemes 0.78 Taxes Budget Size Transfer Customs GST on UTs Net Tax to State Finance 1.12 24.42 Transfers, 7.44 0.05 Receipts Pension 2.41 Commission Establishment 14.81 1.68 Transfers and Other Establishment 1.09 Expenditure Expenditure Union Salary & Non-Tax 14.27 5.08 Excise Allowances Gross Tax Interest Revenue Other Grants/ Duties Receipts 2.07 Revenue 2.45 Other Loans 1.32 2.67 0.15 Central Others 22.71 Others 0.28 Expenditure 1.33 Dividend & Income Others 6.78 Taxes ProLit 1.07 1.23 Public Sector 5.29 Undertakings 0.04 Regulatory/Statutory Corporation Bodies 0.07 Autonomous Interest Tax 5.21 Bodies 0.61 Payment 5.78 Transfer to State Share NDR Fund of Taxes 0.03 7.88 Current Affairs 2018 2018-3 Rupee Goes To (Budget 2018-2019) Centrally Sponsored Scheme (Budget 2017-18) Other 9 p. Expenditure 10 p. 8 p. 8 p. Central Sector Scheme 11 p. 5 p. 10 p. Pensions 18 p. 5 p. 24 p. 9 p. 5 p. 10 p. Interest Payments States’ Share of 18 p. taxes & duties 24 p. Defence 9 p. Finance Commission & Other Transfers Subsidies 8 p. 9 p. Note: Total expenditure is inclusive of the states’ share of taxes and duties which have been netted against receipts in the table. Union Budget 2018 1. Commodities that are now cheaper IMPORTED ITEMS Raw cashew nuts Solar tempered glass or solar tempered glass used for manufacture solar panels/modules Raw materials, parts or accessories used in making cochlear implants Select capital goods and electronics such as ball screws and linear motion guides. 2. Commodities that will cost you more IMPORTED ITEMS • Cars and motorcycles • Miscellaneous • Truck and Bus radial • Mobile phones food except Soya tyres • Silver • Perfumes/Deodorants • Silk Fabrics • Gold • Sunscreen • Footwear • Vegetable, fruit juices • Dental hygiene • Jewellery • Sunglasses • Shaving preparations • Smart watches • LCD/LED TV panels • Video game consoles • Edible/vegetable oils • Furniture • Outdoor games, such as olive oils, • Mattresses including pools groundnut oil • Lamps • Cigarette and other • Watches and clocks lighters, candles • All toys • Kites Note: No change in Income Tax Slabs except in Cess EBD_9075 2018-4 Current Affairs 2018 powers to collect them is significantly lower than their Economic Survey 2018 counterparts in other federal countries. Union finance Minister Arun Jaitley tabled the Economic Survey 10. The survey captures the footprints of climate change on 2017-18 in Parliament during 2018 budget session. The survey the Indian territory and consequent adverse impact on was authored by chief economic adviser Arvind Subramanian. The agricultural yields. survey projects economy to grow in the range of 7% to 7.50% in the next fiscal year 2018-19 in the post-demonetization year. Survey Padma Awards 2017-18 was in pink colour to highlight gender issues. Key Highlights of Survey Growth Forecast: Padma Vibhushan 1. Goods and Services Tax (GST) has given a new perceptive NO. NAME FIELD STATE of the Indian economy and new data has emerged. There has been a fifty percent increase in the number of indirect 1 Illaiyaraja Art-Music Tamil Nadu taxpayers. There has also been a large increase in voluntary registrations. 2 Ghulam Mustafa Art-Music Maharashtra 2. India‘s formal sector, especially formal non-farm payroll, Khan is substantially greater than what it currently is believed 3 Parameswaran Literature and Kerala to be. It became evident that when formality was defined Parameswaran Education in terms of social security provisions like EPFO/ESIC the formal sector payroll was found to be about 31 percent Padma Bhushan of the non-agricultural work force. When formality was defined in terms of being part of the GST net, such formal NO. NAME FIELD STATE sector payroll share was found to be 53 percent. 1 Pankaj Advani Sports- Billiards/ Karnataka 3. For the first time in India‘s history, data on the international Snooker exports of states has been dwelt in the Economic Survey. 2 Philipose Mar Others- Kerala Chrysostom Spiritualism Such data indicates a strong correlation between export performance and states’ standard of living. 3 Mahendra Singh Sports-Cricket Jharkhand Dhoni 4. India‘s exports are unusual in that the largest firms 4 Alexander Public Affairs Russia account for a much smaller share of exports than in other Kadakin comparable countries. Top one percent of Indian firms (Foreigner) account only for 38% of exports unlike in other countries 5 Ramachandran Others- Tamil Nadu where they account for substantially greater share – (72, Archaeology Nagaswamy 68, 67 and 55 percent in Brazil, Germany, Mexico and USA 6 Ved Prakash Literature and US respectively). Such tendencies were also found to be true Nanda (OCI) Education for the top five or ten per cent of the Indian companies. 7 Laxman Pai Art-Painting Goa 5. It was pointed out that the Rebate of State Levies (ROSL) 8 Arvind Parikh Art-Music Maharashtra has increased exports of readymade garments (man-made fibers) by about 16 per cent but not of others. 9 Sharda Sinha Art-Music Bihar 6. The data highlighted another seemingly known fact that Padma Shri Indian society exhibits a strong desire for a male child. It pointed out that most parents continued to have children NO. NAME FIELD STATE until they get number of sons. 1 Abhay Bang (Duo) Medicine Maharashtra 7. The survey pointed out that tax departments in India have gone in for contesting against in several tax disputes but 2 Rani Bang (Duo) Medicine Maharashtra also with a low success rate which is below 30 per cent. About 66 per cent of pending cases accounted for only 1.8 3 Damodar Ganesh Social Work Chhattisgarh Bapat per cent of value at stake.