Dear Aspirants,

Banking Awareness for NABARD Grade-A Exam 2018

With the increased competition in the field of banking examinations, it has now become very important to cover up all the sections efficiently. One subject that can help you bagging graceful marks in the minimum time in these examinations is Banking Awareness. Banking Awareness Quiz not only helps you deal with the General Awareness Section of Banking Exams but also, the Personal Interview round of Banking Recruitment.

Q1. What is the Minimum Amount for opening of account that can be retained of 5-Year Post Office RD Account?
(a) 10/- per month
(b) 50/- per month
(c) 100/- per month
(d) 5/- per month
(e) 1/- per month

S1. Ans.(a)
Sol. Rs 10 the Minimum Amount for opening of account that can be retained of 5-Year Post Office RD Account.

Q2. RD Account stands for-
(a) Resident Deposit Account
(b) Recurring Deposit Account
(c) Regional Deposit Account
(d) Regular Deposit Account
(e) Repayment Deposit Account

S2. Ans.(b)
Sol. RD Account stand for- Recurring Deposit Account (RD).

Q3. What is the maximum balance of account that can be retained of 5-Year Post Office RD Account?
(a) 10 lakh
(b) 1 crore
(c) No limit
(d) 1 lakh
(e) 50 lakh

S3. Ans.(c)
Sol. There is no limit of maximum balance of account that can be retained of 5-Year Post Office RD Account.

Q4. What is the interest rate of Post Office RD Account (As on 01st January 2018)?
(a) 6.1% per annum (quarterly compounded)
(b) 6.3% per annum (quarterly compounded)
(c) 6.5% per annum (quarterly compounded)
(d) 6.9% per annum (quarterly compounded)
(e) 6.7% per annum (quarterly compounded)

S4. Ans.(d)
Sol. The interest rate of Post Office RD Account (As on 01st January 2018) is 6.9% per annum (quarterly compounded).

Q5. What is the silent features of 5-Year Post Office RD Account?
(a) Account can be opened by cash / Cheque and in case of Cheque the date of deposit shall be date of presentation of Cheque.
(b) Nomination facility is available at the time of opening and also after opening of account.
(c) Account can be transferred from one post office to another.
(d) Account can be opened in the name of minor and a minor of 10 years and above age can open and operate the account.
(e) All of the given options are the silent features of 5-Year Post Office RD Account.

S5. Ans.(e)
Sol. Salient features including Tax Rebate of 5-Year Post Office RD Account.
1. Account can be opened by cash / Cheque and in case of Cheque the date of deposit shall be date of presentation of Cheque.
2. Nomination facility is available at the time of opening and also after opening of account.
3. Account can be transferred from one post office to another.
4. Any number of accounts can be opened in any post office.
5. Account can be opened in the name of minor and a minor of 10 years and above age can open and operate the account.
6. Joint account can be opened by two adults.

Q6. What is the name of the free LPG connection scheme expanded to eight crore households, as announced in the Budget Session?
(a) Roshani Mission
(b) PMGKY
(c) Ujjwala Yojana
(d) APY
(e) Smoke Exit

S6. Ans.(c)
Sol. More women can expect freedom from hazardous kitchen smoke as the government has proposed to expand its free cooking gas programme to 8 crore poor families from 5 crore earlier.

Q7. According to the government, how many toilets are targeted to be build under Swacch Bharat Scheme in the next fiscal 2018-19?
(a) 2 crore
(b) 5 crore
(c) 8 crore
(d) 11 crore
(e) 20 crore

S7. Ans.(a)
Sol. Over two crore toilets will be constructed across the country under the Swachh Bharat Mission (SBM) in the next fiscal (2018-19).

Q8. Name the scheme that government is proposing to launch for solid waste management in the Union Budget 2018-19?
(a) GOBAR-NASH
(b) GOBAR-OUT
(c) GOBAR-VINASH
(d) GOBAR-BOND
(e) GOBAR-DHAN

S8. Ans.(e)
Sol. Over two crore toilets will be constructed across the country under the Swachh Bharat Mission (SBM) in the next fiscal, with the government also proposing to launch a new scheme called GOBAR-DHAN for solid waste management in the Union Budget.

Q9. How much amount has been allocated for the National Livelihood Mission in Union Budget 2018-19?
(a) Rs 11,300 crore
(b) Rs 5,750 crore
(c) Rs 3,000 crore
(d) Rs 10,000 crore
(e) Rs 17,100 crore

S9. Ans.(b)
Sol. FM Arun Jaitley has announced increase in allocation for the National Rural Livelihood Mission (NRLM) to Rs 5,750 crore in 2018-19 from Rs 4,500 crore.

Q10. The government has allocated _________________ crore to health and family welfare in the Union Budget 2018-19, an 11.5 per cent rise over the Rs 47,353 crore allocated last fiscal.
(a) Rs 28,800 crore
(b) Rs 37,400 crore
(c) Rs 43,600 crore
(d) Rs 52,800 crore
(e) Rs 17,100 crore

S10. Ans.(d)
Sol. The government has allocated Rs 52,800 crore to health and family welfare in the Union Budget 2018-19, an 11.5 per cent rise over the Rs 47,353 crore allocated last fiscal. According to the Budget outlay, the government made a 13 per cent increase in the funding to AYUSH ministry from Rs 1,429 crore to Rs 1,626 crore.

Q11. The Union Budget 2018-19 has doubled the allocation on Digital India programme to Rs __________ crore in 2018-19.
(a) Rs 1231 crore
(b) Rs 16321 crore
(c) Rs 3073 crore
(d) Rs 7029 crore
(e) Rs 10123 crore

S11. Ans.(c)
Sol. Department of Science & Technology will launch a Mission on Cyber Physical Systems to support establishment of centres of excellence for research, training and skilling in robotics, artificial intelligence, digital manufacturing, big data analysis, quantum communication and internet of things. The Budget doubled the allocation on Digital India programme to Rs 3073 crore in 2018-19.

Q12. To further Broadband access in villages, the Government has proposed to set up ____________ wifi hotspots to provide net connectivity to five crore rural citizens.
(a) five lakh
(b) two lakh
(c) four lakh
(d) six lakh
(e) eight lakh

S12. Ans.(a)
Sol. To further Broadband access in villages, the Government proposes to set up five lakh wifi hotspots to provide net connectivity to five crore rural citizens. The Finance Minister allocated Rs. 10000 crore in 2018-19 for creation and augmentation of Telecom infrastructure.

Q13. How much disinvestment target has been set for Financial Year 2018-19?
(a) Rs.72,500 crore
(b) Rs.50,000 crore
(c) Rs.70,000 crore
(d) Rs.60,000 crore
(e) Rs.80,000 crore

S13. Ans.(e)
Sol. The Finance Minister announced that 2017-18 disinvestment target of Rs.72,500 crore has been exceeded and expected receipts of Rs.1,00,000 crore. He set disinvestment target of Rs.80,000 crore for 2018-19.

Q14. Accourding to Union Budget 2018-19, Three Public Sector Insurance companies will be merged into a single insurance entity. Which of the following is not them?
(a) Oriental India insurance Co. Ltd
(b) United India Assurance Co. Ltd
(c) National Insurance Co. Ltd
(d) General Insurance Corporation of India
(e) None of the given options is true

S14. Ans.(d)
Sol. Three Public Sector Insurance companies- National Insurance Co. Ltd., United India Assurance Co. Ltd., and Oriental India insurance Co. Ltd., will be merged into a single insurance entity.

Q15. To celebrate the 150 Birth Anniversary of Mahatma Gandhi, Father of the Nation from 02nd October 2019, the Budget set aside _____________ for the activities leading to the commemoration programme.
(a) Rs. 250 crore
(b) Rs. 150 crore
(c) Rs. 100 crore
(d) Rs. 350 crore
(e) Rs. 450 crore

S15. Ans.(b)
Sol. To celebrate the 150 Birth Anniversary of Mahatma Gandhi, Father of the Nation from 2nd October 2019, the Budget set aside Rs.150 crore for the activities leading to the commemoration programme.