Dear Aspirants,
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. PSLCs are tradable certificates issued against priority sector loans of banks. What does meaning of "Cs" in PSLCs?
Cess
Cities
Census
Certificates
Council
Solution:
Reserve Bank of India Internal Working Group recommends introduction of priority sector lending certificates (PSLCs) which will enable banks to meet their PSL requirements even while leveraging their comparative advantage in lending.
Q2. The Banking Ombudsman Scheme is introduced under Section 35 A of the Banking Regulation Act, 1949 by RBI with effect from-
1995
1999
1990
1982
1988
Solution:
The Banking Ombudsman Scheme is an expeditious and inexpensive forum for bank customers for resolution of complaints relating to certain services rendered by banks. The Banking Ombudsman Scheme is introduced under Section 35 A of the Banking Regulation Act, 1949 by RBI with effect from 1995.
Q3. MTSS is a way of transferring personal remittances from abroad to beneficiaries in India. What does MTSS stand for-?
Mobile Transfer Service Scheme
Money Transfer System Scheme
Money Timing Service Scheme
Market Transfer Service Scheme
Money Transfer Service Scheme
Solution:
Money Transfer Service Scheme (MTSS) is a quick and easy way of transferring personal remittances from abroad to beneficiaries in India. Only inward personal remittances into India such as remittances towards family maintenance and remittances favouring foreign tourists visiting India are permissible
Q4. How much cash can payment be made to the beneficiary in India under MTSS?
Rs 2,00,000
Rs 50,000
Rs 1,00,000
Rs 10,000
Rs 5,00,000
Solution:
Amounts up to INR 50,000/- may be paid in cash to a beneficiary in India.
Q5. RDA is a channel to receive cross-border remittances from overseas jurisdictions. What does meaning of "A" in RDA?
Account
Assembly
Arrangement
Association
Amount
Solution:
Rupee Drawing Arrangement (RDA) is a channel to receive cross-border remittances from overseas jurisdictions. Under this arrangement, the Authorised Category I banks enter into tie-ups with the non-resident Exchange Houses in the FATF compliant countries to open and maintain their Vostro Account.
Q6. Which organisation holding the highest/maximum share in NABARD as on 01st May 2019?
Finance Ministry
Government of India
Reserve Bank of India
Securities and Exchange Board of India
None of the given options is true
Solution:
The Reserve Bank of India (RBI) has divested its entire stake held in National Housing Bank (NHB), the regulator for housing finance companies, and National Bank for Agriculture and Rural Development (NABARD) to the government, which now holds 100% in these entities.
Q7. Who is the present Chairman of SEBI?
Ajay Tyagi
Kshatrapati Shivaji
Yaduvendra Mathur
Shaktikanta Das
Urjit Patel
Solution:
Ajay Tyagi is the present Chairman of SEBI.
Q8. NABARD's affairs are governed by a Board of Directors and the Board of Directors are appointed by the Government of India in consonance with NABARD Act. Who is the present Chairman of NABARD?
Arvind Subramanian
Rana Kapoor
Arundhati Bhattacharya
Raghuram Rajan
Harsh Kumar Bhanwala
Solution:
Dr. Harsh Kumar Bhanwala is the Chairman of National Bank for Agriculture and Rural Development (NABARD) since December 18, 2013.
Q9. Name the organisation, which mission is Promote sustainable and equitable agriculture and rural prosperity through effective credit support, related services, institution development and other innovative initiatives?
SEBI
RBI
SIDBI
NABARD
FICCI
Solution:
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. NABARD stands for National Bank for Agriculture and Rural Development.
Q10. At the instance of Government of India Reserve Bank of India (RBI) was constituted a committee to review the arrangements for institutional credit for agriculture and rural development (CRAFICARD) on 30 March 1979, under the Chairmanship of-
V K Malhotra
C Rangarajan
B Sivaraman
Hilton Young
None of the given options is true
Solution:
The importance of institutional credit in boosting rural economy has been clear to the Government of India right from its early stages of planning. Therefore, the Reserve Bank of India (RBI) at the insistence of the Government of India, constituted a Committee to Review the Arrangements For Institutional Credit for Agriculture and Rural Development (CRAFICARD) to look into these very critical aspects. The Committee was formed on 30 March 1979, under the Chairmanship of Shri B. Sivaraman, former member of Planning Commission, Government of India.
Q11. The Government of India, the concerned State Government and the bank, which had sponsored the RRB contributed to the share capital of RRBs in the proportion of ________________ respectively.
50%, 15% and 35%
50%, 35% and 15%
35%, 50% and 35%
15%, 50% and 35%
None of the given options is true
Solution:
The Union government has a 50% stake, the respective state governments, 15%, and the sponsor banks have a 35% stake.
Q12. Regional Rural Banks (RRBs) were established in 1975 under the provisions of the Ordinance promulgated on the 26th September 1975 and followed by which act?
Companies Act, 1956
RRBs Act, 1976
RBI Act, 1935
Banking Regulation Act, 1949
None of the given options is true
Solution:
Regional Rural Banks were established under the provisions of an Ordinance passed on 26th September,1975 and the RRB Act 1976 to provide sufficient banking and credit facility for agriculture and other rural sectors.
Q13. FICCI is the largest and oldest apex business organisation in India. (FICCI) was established in-
1913
1919
1927
1935
1949
Solution:
The Federation of Indian Chambers of Commerce and Industry (FICCI) is an association of business organisations in India. Established in 1927, on the advice of Mahatma Gandhi by GD Birla and Purushottam Das Thakurdas, it is the largest, oldest and the apex business organisation in India.
Q14. FICCI history is closely interwoven with India's struggle for independence, its industrialization, and its emergence as one of the most rapidly growing global economies. What is meaning of "F" in FICCI?
Follower
Federal
Financial
Federation
Fully
Solution:
FICCI stands for The Federation of Indian Chambers of Commerce and Industry,
Q15. In which of the following cities, The Head Office of FICCI is located?
Hyderabad
Chennai
Kolkata
Mumbai
New Delhi
Solution:
The Head Office of FICCI is located in New Delhi.
All the Best BA'ians for SBI PO and Clerk Main!!
