Banking Awareness Questions for IBPS PO and Clerk | 17th October 2018

Dear Aspirants,

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Banking Awareness for IBPS PO and Clerk  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. The Union Government, Rajasthan and the World Bank signed a _______________________ million Development Policy Loan (DPL) to support Rajasthan in improving the performance of its Electricity Distribution Sector under the State’s ‘24x7 Power for All’ program.
USD 400 million
USD 250 million
USD 500 million
USD 725 million
USD 1200 million
Solution:
The Union Government, Rajasthan and the World Bank signed a USD 250 million Development Policy Loan (DPL) to support Rajasthan in improving the performance of its Electricity Distribution Sector under the State’s ‘24x7 Power for All’ program.

Q2. The Central government and the _____________________ have signed 300 million dollar loan agreements for India Energy Efficiency Scale up Programme.
Asian Infrastructure Investment Bank
New Development Bank
International Monetary Fund
Asian Development Bank
World Bank
Solution:
The Central government and the World Bank have signed 300 million dollar loan agreements for India Energy Efficiency Scale up Programme. They signed 220 million dollar Loan Agreement and an 80 million Guarantee Agreement for the Efficiency Scale-Up Program.

Q3. National Bank for Agriculture and Rural Development (NABARD) has sanctioned an amount of Rs 335 crore under the Rural Infrastructure Development Fund (RIDF) to-
Jharkhand
Odisha
West Bengal
Kerala
Rajasthan
Solution:
National Bank for Agriculture and Rural Development (NABARD) has sanctioned an amount of Rs 335 crore under the Rural Infrastructure Development Fund (RIDF) to West Bengal. The fund, alloted in August, would be used for 158 minor irrigation projects and 23 flood protection projects.

Q4. HDFC ERGO, India's third-largest non-life insurance provider in the private sector, announced the launch of 'E@Secure', a Cyber Insurance Policy for individuals. HDFC ERGO is based in-
Mumbai
New Delhi
Chennai
Kolkata
Bengaluru
Solution:
HDFC ERGO, India's third-largest non-life insurance provider in the private sector, announced the launch of 'E@Secure', a Cyber Insurance Policy for individuals. This policy aims at providing comprehensive protection to individuals and their families against any cyber-attacks, cyber frauds or digital threats that could lead to a financial loss and or reputational loss. HDFC ERGO is a non-life insurance provider in the private sector and its headquarters in Mumbai.

Q5. The government of India has doubled the monetary limit to _________________ rupees for filing loan recovery application in the Debt Recovery Tribunals (DRT) by banks and financial institutions.
50 lakh rupees
60 lakh rupees
10 lakh rupees
30 lakh rupees
20 lakh rupees
Solution:
The government of India has doubled the monetary limit to 20 lakh rupees for filing loan recovery application in the Debt Recovery Tribunals (DRT) by banks and financial institutions. As per the Finance Ministry, the move is aimed at helping reduce pendency of cases in DRTs.

Q6. State Bank of India (SBI) has appointed Anshula Kant as Managing Director of the Bank. She has been appointed to the post for 2 years. With this appointment, SBI now has how many MDs?
three
six
two
one
four
Solution:
SBI has appointed Anshula Kant as Managing Director of the Bank. She has been appointed to the post for 2 years. Prior this appointment, Kant was the bank's Deputy Managing Director. With this appointment, SBI now has four MDs - PK Gupta, DK Khara and Arijit Basu.

Q7. The Union Government has appointed former Reserve Bank of India governor ________________ as the head of the panel that has been tasked with selecting India’s next chief economic advisor (CEA).
Manmohan Singh
Bimal Jalan
D Subbarao
Raghuram Rajan
YV Reddy
Solution:
The Union Government has appointed former Reserve Bank of India governor Bimal Jalan as the head of the panel that has been tasked with selecting India’s next chief economic advisor (CEA). The panel will screen the applications received and conduct interviews. The move comes two months after the government sought applications for the post after previous CEA Arvind Subramanian resigned from office.

Q8. Who has been appointed as managing director & CEO of Axis Bank from 01st January 2019 for a period of three years?
Sandeep Bakhshi
Anshula Kant
PK Gupta
Amitabh Chaudhry
Arijit Basu
Solution:
Axis Bank announced that Amitabh Chaudhry has been appointed as its managing director & CEO from January 1, 2019, for a period of three years. Mr. Chaudhry, the MD & CEO of HDFC Standard Life Insurance Company at present, will take the charge at India’s third largest private sector bank after incumbent Shikha Sharma steps down on December 31, 2018. Mr. Chaudhry, 54, has been associated with HDFC Life since January 2010.

Q9. India’s Current Account Deficit (CAD) widened to a four-quarter-high at _______________ of gross domestic product (GDP) in April-June period.
2.4%
3.5%
1.2%
4.6%
2.8%
Solution:
India’s current account deficit (CAD) widened to a four-quarter-high at 2.4% of gross domestic product (GDP) in April-June period on the back of rising crude oil prices, from 1.9% of GDP in the January-March quarter of 2017-18, according to data released by the Reserve Bank of India (RBI).

Q10. With concerns being raised on some proposals of the draft e-commerce policy, the government has set up a group of secretaries to look into the issues. The group will be chaired by-
Personal Secretary of Prime Minister
Secretary in Finance Ministry
Secretary in DIPP
Chairman of Niti Aayog
Secretary in Comptroller and Auditor General
Solution:
With concerns being raised on some proposals of the draft e-commerce policy, the government has set up a group of secretaries to look into the issues. The group will be chaired by the secretary in the Department of Industrial Policy and Promotion (DIPP). Ramesh Abhishek is the Secretary of Department Of Industrial Policy & Promotion.

Q11. In a move aimed at creating a payments acceptance network for unorganized retail including small merchants and kirana stores where consumers can make payments, ___________________ has partnered with Financial Software and Systems (FSS).
HDFC Bank
IPPB
SBI
SIDBI
MSME
Solution:
In a move aimed at creating a payments acceptance network for unorganized retail including small merchants and kirana stores where consumers can make payments, India Post Payments Bank (IPPB) has partnered with Financial Software and Systems (FSS). FSS a payments technology company to ensure that micro-merchants are able to accept payments over any channel – online, unified payments interface (UPI), quick-response (QR) codes, Aadhaar and IPPB accounts. FSS will also provide merchant management and settlement solutions including on-boarding fee calculation, reconciliation and settlement.

Q12. Commerce and Industry Minister Suresh Prabhu has participated in G-20 trade and investment ministerial meeting in-
France
Japan
USA
Sweden
Argentina
Solution:
Commerce and Industry Minister Suresh Prabhu participated in G-20 trade and investment ministerial meeting at Mar del Plata in Argentina. Issues including increasing protectionism challenges to promote global commerce and the new industrial revolution were discussed at the meeting.

Q13. The Reserve Bank to purchase government securities (G-secs) worth ______________ crore in September 2018, a move aimed at inducing liquidity in the system.
Rs 10,000 crore
Rs 20,000 crore
Rs 40,000 crore
Rs 60,000 crore
Rs 30,000 crore
Solution:
The Reserve Bank to purchase government securities (G-secs) worth Rs 10,000 crore in September 2018, a move aimed at inducing liquidity in the system. The purchase of the government securities will be done through Open Market Operations (OMO).

Q14. The government has announced an array of steps to check the rising Current Account Deficit (CAD), and the fall in rupee. The steps to be taken by the government to attract dollar inflows into the country include-
Reviewing of mandatory hedging condition for infrastructure loans
To permit manufacturing sector entities to avail of External Commercial Borrowing (ECBs) up to $50 million with minimum maturity of one year, instead of the earlier limit of three years
Removal of withholding tax on rupee-denominated bonds known as Masala bonds issued till March 2019
All of the above
None of the given options is true
Solution:
The government has announced an array of steps to check the rising Current Account Deficit (CAD), and the fall in rupee. The steps include removal of withholding tax on rupee-denominated bonds known as Masala bonds issued till March 2019, relaxation for Foreign Portfolio Investment (FPI), and curbs on non-essential imports. 
The steps to be taken by the government to attract dollar inflows into the country include: 
Reviewing of mandatory hedging condition for infrastructure loans. 
To permit manufacturing sector entities to avail of External Commercial Borrowing (ECBs) up to $50 million with minimum maturity of one year, instead of the earlier limit of three years. 
Removing restrictions with respect to FPI exposure limit of 20 per cent in corporate bond portfolio to a single corporate group or company or entity and 50 per cent of any issue of corporate bond. Removal of withholding tax on rupee-denominated bonds known as Masala bonds issued till March 2019. 
Removing restrictions on Indian banks, market making in masala bonds, including restrictions on underwriting of masala bonds. Relaxation for Foreign Portfolio Investment (FPI) and curbs on non-essential imports.

Q15. Which organisation/bank has approved Rs 65,634.93 crore loan so far to 93 prioritised irrigation projects under the government's flagship scheme Pradhan Mantri Krishi Sinchai Yojana (PMKSY)?
IRDAI
SBI
NABARD
SIDBI
RBI
Solution:
The National Bank for Agriculture and Rural Development (NABARD) has approved Rs 65,634.93 crore loan so far to 93 prioritised irrigation projects under the government's flagship scheme Pradhan Mantri Krishi Sinchai Yojana (PMKSY). The NABARD is funding the central and state share of 99 prioritised irrigation projects under the PMKSY through long term irrigation fund (LTIF). It is mandated to provide Rs 70,000 crore loan to these projects to be completed by 2019.

               




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