SBI PO/Clerk Main Banking Awareness Quiz: 11th July

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SBI PO/Clerk Main Banking Awareness Quiz: 11th July

SBI PO/Clerk Mains Banking Awareness Quiz

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. NABARD was dedicated to the service of the nation by the late Prime Minister Smt. Indira Gandhi on-
12th July 1982
01st January 1949
19th July 1980
15th April 1969
05th November 1982
Solution:
NABARD came into existence on 12 July 1982 by transferring the agricultural credit functions of RBI and refinance functions of the then Agricultural Refinance and Development Corporation (ARDC). It was dedicated to the service of the nation by the late Prime Minister Smt. Indira Gandhi on 05 November 1982.

Q2. The mission of NABARD is Promote sustainable and equitable agriculture and rural prosperity through effective credit support, related services, institution development and other innovative initiatives. What is meaning of "R" IN NABARD?
Regional
Rural
Reconstruction
Revised
Remittance
Solution:
NABARD stands for National Bank for Agriculture and Rural Development.

Q3. SAT is a statutory body established under the provisions of Section 15K of the Securities and Exchange Board of India (SEBI) Act, 1992. SAT stands for-
Securities Appellate Tribunal
Securities Appellate Treaty
Securities Association Tribunal
Saving Appellate Tribunal
None of the given options is true
Solution:
Securities Appellate Tribunal or SAT is a statutory body established under the provisions of Section 15K of the Securities and Exchange Board of India Act, 1992 to hear and dispose of appeals against orders passed by the Securities and Exchange Board of India or by an adjudicating officer under the Act; and to exercise jurisdiction, powers and authority conferred on the Tribunal by or under this Act or any other law for the time being in force.

Q4. The Securities and Exchange Board of India (SEBI) was established on-
12th April 1999
12th April 1992
12th April 1949
12th April 1990
12th April 1995
Solution:
Securities and Exchange Board of India (SEBI) is a regulatory body of the Government of India. It controls the securities market. It was established on April 12, 1992 under the SEBI Act, 1992.

Q5. NABARD was set up with an initial capital of-
Rs 200 crore
Rs 1500 crore
Rs 500 crore
Rs 100 crore
Rs 1000 crore
Solution:
NABARD came into existence on 12 July 1982 by transferring the agricultural credit functions of RBI and refinance functions of the then Agricultural Refinance and Development Corporation (ARDC). It was dedicated to the service of the nation by the late Prime Minister Smt. Indira Gandhi on 05 November 1982. Set up with an initial capital of Rs.100 crore, its’ paid up capital stood at Rs.10,580 crore as on 31 March 2018.

Q6. The Reserve Bank of India was established on-?
01st January 1949
01st April 1935
01st January 1921
01st April 1956
01st October 1949
Solution:
The Reserve Bank of India was established on April 1, 1935 in accordance with the provisions of the Reserve Bank of India Act, 1934.

Q7. In which of the following city, the Central Office of the Reserve Bank was initially established?
Bengaluru
New Delhi
Chennai
Mumbai
Calcutta
Solution:
The Central Office of the Reserve Bank was initially established in Calcutta but was permanently moved to Mumbai in 1937. The Central Office is where the Governor sits and where policies are formulated.

Q8. The Reserve Bank of India was established in accordance with the provisions of-
Reserve Bank of India Act, 1934
Banking Regulation Act, 1949
Negotiable Instruments Act, 1881
Foreign Exchange Management Act, 1999
Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970
Solution:
The Reserve Bank of India was established on April 1, 1935 in accordance with the provisions of the Reserve Bank of India Act, 1934. The Central Office of the Reserve Bank was initially established in Calcutta but was permanently moved to Mumbai in 1937. The Central Office is where the Governor sits and where policies are formulated.

Q9. In which of the following year, the Central Office of the Reserve Bank was permanently moved to Mumbai?
1956
1949
1935
1937
1921
Solution:
The Central Office of the Reserve Bank was initially established in Calcutta but was permanently moved to Mumbai in 1937. The Central Office is where the Governor sits and where policies are formulated.

Q10. The Reserve Bank of India is fully owned by-
Government of India
Ministry of Finance
State Bank of India
Supreme Court of India
State Government
Solution:
Though originally privately owned, since nationalisation in 1949, the Reserve Bank is fully owned by the Government of India.

Q11. In which year, The Clearing Corporation of India Limited (CCIL) was set up?
December 1995
April 2001
October 1999
January 2003
June 2005
Solution:
The Clearing Corporation of India Ltd. (CCIL) was set up in April, 2001 to provide guaranteed clearing and settlement functions for transactions in Money, G-Secs, Foreign Exchange and Derivative markets. The introduction of guaranteed clearing and settlement led to significant improvement in the market efficiency, transparency, liquidity and risk management/measurement practices in these market along with added benefits like reduced settlement and operational risk, savings on settlement costs, etc.

Q12. CBLO is a money market instrument that represents an obligation between a borrower and a lender as to the terms and conditions of a loan. CBLO stands for-
Central Borrowing and Lending Obligation
Collateralized Borrowing and Lending Organisation
Collateralized Borrowing and Lease Obligation
Collateralized Banking and Lending Obligation
Collateralized Borrowing and Lending Obligation
Solution:
A collateralized borrowing and lending obligation (CBLO) is a money market instrument that represents an obligation between a borrower and a lender as to the terms and conditions of a loan.

Q13. AIIB is a multilateral development bank with a mission to improve social and economic outcomes in Asia and beyond. AIIB commenced operations in-
January 2014
January 2015
January 2016
January 2017
January 2018
Solution:
Asian Infrastructure Investment Bank (AIIB), a multilateral development bank with a mission to improve social and economic outcomes in Asia and beyond. Headquartered in Beijing, AIIB has commenced operations in January 2016 and have now grown to 87 approved members from around the world.

Q14. Which organisation has been given the sole privilege to operate Pradhan Mantri Vaya Vandana Yojana?
TRAI
IRDAI
SEBI
LIC of India
State Bank of India
Solution:
LIC of India has been given the sole privilege to operate Pradhan Mantri Vaya Vandana Yojana.

Q15. In which of the following year Liberalised Remittance Scheme (LRS) was introduced?
2012
2008
2004
2006
2016
Solution:
Under the Liberalised Remittance Scheme, all resident individuals, including minors, are allowed to freely remit up to USD 2,50,000 per financial year (April – March) for any permissible current or capital account transaction or a combination of both. Further, resident individuals can avail of foreign exchange facility for the purposes mentioned in Para 1 of Schedule III of FEM (CAT) Amendment Rules 2015, dated May 26, 2015, within the limit of USD 2,50,000 only. The Scheme was introduced on February 4, 2004, with a limit of USD 25,000. The LRS limit has been revised in stages consistent with prevailing macro and micro economic conditions.

               




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