Banking Awareness Questions for Canara Bank PO and IBPS Clerk | 05th December 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 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. Which Bank has launched an overdraft (OD) facility for micro and small enterprise (MSE) customers across its branches nationally?
City Bank
Ujjivan Small Finance Bank
Airtel Payments Bank
State Bank of India
India Post Payments Bank
Solution:
Ujjivan Small Finance Bank, a wholly-owned subsidiary of Ujjivan Financial Services Ltd, has launched an overdraft (OD) facility for micro and small enterprise (MSE) customers across its branches nationally. The facility is an add-on product to the existing MSE term loans offered by the bank. The OD facility is offered to all MSEs with a turnover of Rs 50 lakh or more, at a competitive rate of interest.

Q7. Which organisation has launched ‘bond-i', the world’s first bond to be created, allocated, transferred and managed by using distributed ledger technology?
Asian Development Bank
Reserve Bank of India
United Nations Organisation
International Monetary Fund
World Bank
Solution:
The World Bank launched ‘bond-i', the world’s first bond to be created, allocated, transferred and managed by using distributed ledger technology. This two-year bond successfully raised 110 million Australian dollars (USD 80.48 million).

Q8. India and Singapore have signed the Second Protocol amending the CECA in New Delhi which will boost bilateral trade between the two countries. What is the full form of CECA?
Comprehensive Economic Cooperation Agreement
Comprehensive Economic Cooperation Agency
Comprehensive Economic Company Agreement
Comprehensive Energy Cooperation Agreement
Common Economic Cooperation Agreement
Solution:
India and Singapore have signed the Second Protocol amending the Comprehensive Economic Cooperation Agreement in New Delhi which will boost bilateral trade between the two countries. The Protocol was signed in New Delhi by Rajneesh, Joint Secretary, Ministry of Commerce and Industry and Francis Chong, Senior Director, Ministry of Trade and Industry, Government of Singapore.

Q9. The Defence Acquisition Council (DAC), chaired by Defence Minister Smt Nirmala Sitharaman accorded approval for procurement for the Services amounting to approximately ___________________ crores.
Rs. 52,000 crores
Rs. 87,000 crores
Rs. 50,000 crores
Rs. 46,000 crores
Rs. 10,000 crores
Solution:
The Defence Acquisition Council (DAC), chaired by Defence Minister Smt Nirmala Sitharaman accorded approval for procurement for the Services amounting to approximately Rs. 46,000 crores. The DAC in a landmark decision approved procurement of 111 Utility Helicopters for the Indian Navy at a cost of over Rs. 21,000 crores. This is the first project under the MoD’s prestigious Strategic Partnership (SP) Model that aims at providing the significant fillip to the Government’s ‘Make in India’ programme.

Q10. In which city, India Banking Conclave 2018 was held recently?
Mumbai
Kolkata
New Delhi
Chennai
Bengaluru
Solution:
India Banking Conclave 2018 was held in New Delhi. The India Banking Conclave 2018 was organized by Centre for Economic Policy Research (CEPR). Knowledge Partner of the conclave was NITI Aayog. The conclave focused on reforming the banking sector.

Q11. DBOD is entrusted with the responsibility of regulation of commercial banks under the regulatory provisions contained in the Banking Regulation Act, 1949 and RBI Act, 1934 besides enunciation of banking policies. What is the full form of DBOD?
Department of Banking Operations & District
Department of Banking Operations & Development
Department of Banking Operations & Division
Department of Branches Operations & Development
Department of Banking Order & Development
Solution:
The Department of Banking Operations & Development or DBOD is entrusted with the responsibility of regulation of commercial banks under the regulatory provisions contained in the B.R. Act, 1949 and RBI Act, 1934 besides enunciation of banking policies.

Q12. The functions of DBOD is broadly relate to prescription of regulations for compliance with various provisions of Banking Regulation Act on establishment of banks such as-
Investments and loans
Maintenance of statutory liquidity
Issue of guidelines on Prudential Norms relating to Capital Adequacy
Management and operations
All of the given options is true
Solution:
The Department of Banking Operations & Development is entrusted with the responsibility of regulation of commercial banks under the regulatory provisions contained in the B.R. Act, 1949 and RBI Act, 1934 besides enunciation of banking policies. Its functions broadly relate to prescription of regulations for compliance with various provisions of Banking Regulation Act on establishment of banks such as licensing, branch expansion, maintenance of statutory liquidity, management and operations, amalgamation, reconstruction and liquidation of banking companies and issue of guidelines on Prudential Norms relating to Capital Adequacy, investments and loans. In order to achieve its objective, it has to maintain a flexible organizational set-up with activities in tune with the time.

Q13. CFRA is a unique document that incorporates comparable information relating to the accounts of the Union and all the States for a year, together with their balances and outstanding liabilities and other information relating to the financial health of the Union and the States. CFRA stands for-
Combined Finance and Revenue Accounts
Common Finance and Revenue Accounts
Combined Funding and Revenue Accounts
Combined Finance and Review Accounts
Combined Finance and Revenue Agency
Solution:
The Combined Finance and Revenue Accounts (CFRA) is a unique document that incorporates comparable information relating to the accounts of the Union and all the States for a year, together with their balances and outstanding liabilities and other information relating to the financial health of the Union and the States.

Q14. The CGRA is the unrealized gain/loss in the value of gold and foreign exchange RBI holds based on movements in their value which is not considered in the income account but taken as a balance-sheet item. What is the full form of CGRA?
Currency and Gold Revaluation Amount
Currency and Gold Registration Account
Current and Gold Revaluation Account
Currency and Gold Revaluation Account
Convertible and Gold Revaluation Account
Solution:
The Currency and Gold Revaluation Account (CGRA) is the unrealized gain/loss in the value of gold and foreign exchange RBI holds based on movements in their value which is not considered in the income account but taken as a balance-sheet item.

Q15. The __________________________ has the responsibility of administering the functions of currency management, a core function of the Reserve Bank in terms of the Reserve Bank of India Act, 1934.
Derivative of Currency Management
District of Currency Management
Department of Currency Management
Department of Currency Manager
Department of Current Management
Solution:
The Department of Currency Management has the responsibility of administering the functions of currency management, a core function of the Reserve Bank in terms of the Reserve Bank of India Act, 1934. Currency management essentially relates to issue of notes and coins and retrieval of unfit notes from circulation.

               




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