Banking Awareness Questions for Canara Bank PO and Clerk | 28th November 2018

Dear Aspirants,

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Banking Quiz for Canara Bank PO and IBPS Clerk  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 Monetary Policy Committee (MPC) of India is a committee of the Reserve Bank of India that is responsible for fixing the benchmark interest rate in India. Who is not in MPC?
Urjit R Patel
Arun Jaitley
Viral V Acharya
Michael Debabrata Patra
Ravindra H Dholakia
Solution:
Finance Minister Arun Jaitley is not in MPC.

Q2. According to RBI, how much percent of demonetised banknotes is recovered?
93%
90%
88%
95%
99%
Solution:
99.3% of demonetised notes worth Rs 15.3 lakh crore returned: RBI.

Q3. What is the interest rate for the Rabi Food & Oilseeds crops in Pradhan Mantri Fasal Bima Yojana (PMFBY)?
2.0%
1.5%
5.0%
3.5%
4.0%
Solution:
PMFBY will provide a comprehensive insurance cover against failure of the crop thus helping in stabilising the income of the farmers and encourage them for adoption of innovative practices. The Maximum Premium payable by the farmers will be 2% for all Kharif Food & Oilseeds crops, 1.5% for Rabi Food & Oilseeds crops and 5% for Annual Commercial/Horticultural Crops.

Q4. The merger of ___________________ and Vodafone India has been completed, make the largest mobile operator in India?
MTNL
Reliance Jio
BSNL
Airtel
Idea Cellular
Solution:
The merger of Idea Cellular and Vodafone India has been completed, creating India’s biggest telecom service provider with over 408 million subscribers.

Q5. Which Bank's credit card issuer has announced the launch of 'ELA' (Electronic Live Assistant), a virtual assistant for customer support and services?
State Bank of India
HDFC Bank
Bank of Baroda
Axis Bank
Punjab National Bank
Solution:
SBI Card, the country's second largest credit card issuer, today announced the launch of 'ELA' (Electronic Live Assistant), a virtual assistant for customer support and services. Driven by Artificial Intelligence and Machine Learning, ELA is designed to enhance customer experience by providing relevant and instant responses to customer queries.

Q6. Which Bank is all set to roll out a capacity building project with farmers in Haryana and Rajasthan under its ‘Livelihood and Water Security’ CSR initiative?
ICICI Bank
Bank of India
State Bank of India
Kotak Mahindra Bank
Yes Bank
Solution:
YES Bank is all set to roll out a capacity building project with farmers in Haryana and Rajasthan under its ‘Livelihood and Water Security’ CSR initiative.

Q7. The World Bank has approved Rs.6000 crore to Central Sector Scheme of the Ministry of Water Resources, River Development and Ganga Rejuvenation for which scheme?
Pradhan Mantri Fasal Bima Yojana
Atal Bhujal Yojana
Atal Pension Yojana
Pradhan Mantri Garib Kalyan Yojana
Atal Mission for Rejuvenation and Urban Transformation
Solution:
The World Bank has approved Atal Bhujal Yojana (ABHY), a Rs.6000 crore Central Sector Scheme of the Ministry of Water Resources, River Development and Ganga Rejuvenation. The scheme is to be implemented over a period of five years from 2018-19 to 2022-23, with World Bank assistance. The scheme proposal has already been recommended by the Expenditure Finance Committee and the Ministry will be seeking Cabinet approval for the project shortly.

Q8. The Reserve Bank of India (RBI) has launched "financial literacy week" based on theme of _____________________ in Jammu and Kashmir with an aim for good practices for safe digital banking experience.
money and education
consumer protection
how to recover NPA
konw your rights
bank power
Solution:
The Reserve Bank of India (RBI) has launched "financial literacy week" based on theme of "consumer protection" in Jammu and Kashmir with an aim for good practices for safe digital banking experience.

Q9. According to SEBI, investors will be permitted to purchase mutual funds worth up to Rs ______________ through digital wallets.
Rs 1,50,000
Rs 1,00,000
Rs 50,000
Rs 5,000
Rs 25,000
Solution:
Investors will be permitted to purchase mutual funds worth up to Rs 50,000 through digital wallets, the market regulator, Sebi said in a release. "Investments up to Rs 50,000 per mutual fund per financial year can be made using e-wallets," the regulator said while redemptions of such investments can be made only to the bank account of a unit holder.

Q10. Enthused by the success of India's largest bank State Bank of India's merger, the government is reportedly mulling another mega bank merger. As per a report, the government is planning to merge Bank of four banks, they banks had reported a combined loss of Rs 21,646.38 crore in the year ended 31 March 2018. Name these four Banks?
Bank of Baroda, Bank of India, Oriental Bank of Commerce and Indian Bank
Punjab National Bank, IDBI Bank, Indian Overseas Bank and Central Bank
Union Bank of India, IDBI Bank, Oriental Bank of Commerce and United Bank of India
Bank of Baroda, IDBI Bank, Oriental Bank of Commerce and Central Bank of India
Bank of Baroda, Corporation Bank, Allahabad Bank and Central Bank of India
Solution:
Enthused by the success of India's largest bank State Bank of India's merger, the government is reportedly mulling another mega bank merger. As per a report, the government is planning to merge Bank of Baroda, IDBI Bank, Oriental Bank of Commerce and Central Bank of India. These four banks had reported a combined loss of Rs 21,646.38 crore in the year ended 31 March 2018.

Q11. Who has been appointed as the Chairman of Economic Advisory Council to PM (EAC-PM)?
Shashikant Sharma
Ratan Watal
Rajiv Kumar
Bibek Debroy
Rajiv Mehrishi
Solution:
Amidst rampant economic slowdown, Prime Minister Narendra Modi constituted an Economic Advisory Council to PM (EAC-PM) to help turn things around. Bibek Debroy, the vice chairman of Niti Aayog has been appointed as the Chairman of this economic review body. Also, Ratan Watal has been named member-secretary of the council, whereas Surjit Bhalla, Rathin Roy and Ashima Goel will be part-time members.

Q12. The rate in which banks borrow loan from RBI?
Reverse Repo Rate
Repo Rate
Cash Reserve Ratio
Base rate
Marginal Standing Facility
Solution:
Banks may have to borrow money from the RBI at times whenever there’s a shortfall. And when they borrow money from the RBI, they have to pay interest to them. The RBI lends money to the commercial banks at repo rate.

Q13. Sukanya Samriddhi Account can now be opened with a minimum deposit of __________________ which was Rs 1,000 earlier.
Rs.250
Rs.500
Rs.750
Rs.1250
Rs.2000
Solution:
The minimum amount required to open the Sukanya Samriddhi Yojana (SSY), a government backed scheme targeted towards a girl child and her financial needs, has been reduced. The Sukanya Samriddhi Account can now be opened with a minimum deposit of Rs 250 which was Rs 1,000 earlier. Also, in subsequent years, the minimum of Rs 250 needs to be deposited each year as against Rs 1,000 earlier. A maximum of Rs 1.5 lakh can be deposited during the ongoing financial year.

Q14. The Ministry of Culture, Government of India has introduced a new scheme namely ‘Seva Bhoj Yojna’ with a total outlay of Rs. 325.00 Crores for Financial Years 2018-19 and 2019-20. "Seva Bhoj Yojana" is related to-
Reimburse Central Share of CGST and IGST on Food/Prasad/Langar/Bhandara offered by Religious Institutions
Sustainable ground water management with community participation in select over-exploited and ground water stressed areas in seven States
Government-backed pension scheme in India targeted at the unorganised sector
Focus to establish infrastructure that could ensure adequate robust sewage networks and water supply for urban transformation by implementing urban revival projects
None of the given options is true
Solution:
The Ministry of Culture, Government of India has introduced a new scheme namely ‘Seva Bhoj Yojna’ with a total outlay of Rs. 325.00 Crores for Financial Years 2018-19 and 2019-20. The scheme envisages to reimburse the Central Government share of Central Goods and Services Tax (CGST) and Integrated Goods and Service Tax (IGST)so as to lessen the financial burden of such Charitable Religious Institutions who provide Food/Prasad/Langar (Community Kitchen)/Bhandara free of cost without any discrimination to Public/Devotees.

Q15. In a major relief to the medium and small enterprises sector the RBI has announced that GST registered MSME borrowers will get a further ___________ day window to pay dues if their accounts were standard as on August 31st 2017.
30 days
150 days
90 days
120 days
180 days
Solution:
In a major relief to the medium and small enterprises sector the Reserve Bank of India on Wednesday announced that GST registered MSME borrowers will get a further 180 day window to pay dues if their accounts were standard as on August 31st 2017. This dispensation allowed to banks and NBFCs will be applicable for dues between September 2017 and January 2018 if the aggregate exposure does not exceed Rs 25 crore. Banks and NBFCs will also not be required to downgrade asset classification.

               




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