SBI PO/Clerk Mains Banking Awareness Quiz: 10th July

Dear Aspirants,

SBI PO/Clerk Main Banking Awareness Quiz: 10th 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. Which of the following are not the Priority Sector categories?
Education
Housing
Roadways
Micro, Small and Medium Enterprises
Export Credit
Solution:
Priority Sector includes the following categories:
(i) Agriculture
 (ii) Micro, Small and Medium Enterprises
(iii) Export Credit
(iv) Education
(v) Housing
(vi) Social Infrastructure
(vii) Renewable Energy
(viii) Others
Q2. The Government of India has enacted the Micro, Small and Medium Enterprises Development (MSMED) Act, ____________.
2012
2010
2008
2004
2006
Solution:
The Government of India has enacted the Micro, Small and Medium Enterprises Development (MSMED) Act, 2006 in terms of micro, small and medium enterprises.
Q3. A Pensioner is entitled for compensation for delayed credit of pension/arrears thereof at the fixed rate of ________________ per annum (since 01st October 2008) and the same would be credited to the pensioner's account automatically by the bank on the same day when the bank affords delayed credit of such pension/arrears etc. without any claim from the pensioner.
8.00%
5.00%
7.00%
6.00%
4.00%
Solution:
A Pensioner is entitled for compensation for delayed credit of pension/arrears thereof at the fixed rate of 8% per annum (since October 1, 2008) and the same would be credited to the pensioner's account automatically by the bank on the same day when the bank affords delayed credit of such pension / arrears etc. without any claim from the pensioner.
Q4. What is the loan limit for individuals to education under priority sector?
Rs. 100 million
Rs. 5 million
Rs. 10 million
Rs. 1 million
Rs. 3 million
Solution:
Loans to individuals for educational purposes including vocational courses upto Rs. 1 million irrespective of the sanctioned amount are eligible for classification under priority sector.
Q5. A micro enterprise is an enterprise where investment in plant and machinery does not exceed Rs. ____________ lakh.
Rs. 20 lakh
Rs. 25 lakh
Rs. 50 lakh
Rs. 100 lakh
Rs. 10 lakh
Solution:
A micro enterprise is an enterprise where investment in plant and machinery does not exceed Rs. 25 lakh.
Q6. The concerned pension sanctioning authorities in the Ministries/Departments/forward the PPOs to bank branches wherefrom the pensioner desires to draw his/her pension. What is the full form of PPOs?
Pension Payment Over
Permanent Parcel Orders
Pension Pending Orders
Pension Payment Owner
Pension Payment Orders
Solution:
The concerned pension sanctioning authorities in the Ministries/Departments/forward the Pension Payment Orders (PPOs) to bank branches wherefrom the pensioner desires to draw his/her pension.
Q7. What is the limit for housing loans in metropolitan centres (with population of ten lakh and above) under priority sector?
Rs. 100 million
Rs. 2.50 million
Rs. 1.00 million
Rs. 3.50 million
Rs. 3.00 million
Solution:
Loans to individuals up to Rs. 3.5 million in metropolitan centres (with population of ten lakh and above) and loans up to Rs. 2.5 million in other centres for purchase/construction of a dwelling unit per family, are eligible to be considered as priority sector provided the overall cost of the dwelling unit in the metropolitan centre and at other centres does not exceed Rs. 4.5 million and Rs. 3 million, respectively. Housing loans to banks’ own employees are not eligible for classification under priority sector.
Q8. Public sector banks have been advised to open at least one specialized branch in each district. The banks have been permitted to categorize their MSME general banking branches having _____________ or more of their advances to MSME sector, as specialized MSME branches for providing better service to this sector as a whole.
80.00%
20.00%
60.00%
50.00%
40.00%
Solution:
Public sector banks have been advised to open at least one specialized branch in each district. The banks have been permitted to categorize their MSME general banking branches having 60% or more of their advances to MSME sector, as specialized MSME branches for providing better service to this sector as a whole. As per the policy package announced by the Government of India for stepping up credit to MSME sector, the public sector banks will ensure specialized MSME branches in identified clusters/centres with preponderance of small enterprises to enable the entrepreneurs to have easy access to the bank credit and to equip bank personnel to develop requisite expertise.
Q9. In terms of Section ________________ of the RBI Act 1934, RBI has the obligation to undertake the receipts and payments of the Central Government and to carry out the exchange, remittance and other banking operations, including the management of the public debt of the Union.
Section 21
Section 20
Section 23
Section 25
Section 17
Solution:
In terms of Section 20 of the RBI Act 1934, RBI has the obligation to undertake the receipts and payments of the Central Government and to carry out the exchange, remittance and other banking operations, including the management of the public debt of the Union. Further, as per Section 21 of the said Act, RBI has the right to transact Government business of the Union in India.
Q10. PSLCs are a mechanism to enable banks to achieve the priority sector lending target and sub-targets by purchase of these instruments in the event of shortfall. What is the full form of PSLCs?
Priority Sector Lending Certificates
Public Sector Lending Certificates
Priority Security Lending Certificates
Priority Sector Lending Centers
Private Service Lending Certificates
Solution:
Priority Sector Lending Certificates (PSLCs) are a mechanism to enable banks to achieve the priority sector lending target and sub-targets by purchase of these instruments in the event of shortfall. This also incentivizes surplus banks as it allows them to sell their excess achievement over targets thereby enhancing lending to the categories under priority sector. Under the PSLC mechanism, the seller sells fulfilment of priority sector obligation and the buyer buys the obligation with no transfer of risk or loan assets.
Q11. Which Bank has been categorized as a private sector lender following the acquisition of majority stake by Life Insurance Corporation?
UCO Bank
Vijaya Bank
Corporation Bank
IDBI Bank
State Bank of India
Solution:
As per RBI notification, IDBI Bank has been categorized as a private sector lender following the acquisition of majority stake by Life Insurance Corporation. IDBI Bank has been under the prompt corrective action framework of RBI that bans it from corporate lending and branch expansions, salary hikes and other regular activities.
Q12. The Reserve Bank of India (RBI) named State Bank of India (SBI), ICICI Bank and ________________________ as D-SIBs, which in other words mean banks that are too big to fail.
HDFC Bank
Bank of Baroda
Axis Bank
Punjab National Bank
HSBC Bank
Solution:
The Reserve Bank of India (RBI) named State Bank of India (SBI), ICICI Bank and HDFC Bank as Domestic Systemically Important Banks (D-SIBs), which in other words mean banks that are too big to fail. As per the norms, these banks will have to set aside more capital for their continued operation. Inclusion in D-SIB indicates that failure of any of these banks would have a cascading effect on the Indian financial system.
Q13. Which Bank has launched a new service called ‘YONO Cash’ for its customers using which customers can withdraw money from ATMs without using debit cards?
HDFC Bank
Union Bank of India
Bank of Baroda
ICICI Bank
State Bank of India
Solution:
The State Bank of India has launched a new service called ‘YONO Cash’ for its customers using which customers can withdraw money from ATMs without using debit cards. This facility is available over 16,500 of its ATMs through the You Only Need One (YONO), mobile app platform for the first time in the country. The ATMs enabled for this service will be called as YONO Cash Point.
Q14. D-SIBs has already been phased-in from 01st April 2016 and fully effective from 01st April 2019. What is the full form of D-SIBs?
Dividend Systemically Important Banks
Domestic Security Important Banks
Domestic Systemically Important Banks
Domestic Systemically International Banks
Domestic Systemically Interface Banks
Solution:
SBI, ICICI Bank and HDFC Bank continue to be in the Reserve Bank of India’s list of Domestic Systemically Important Banks (D-SIBs) for 2018. The additional Common Equity Tier 1 (CET1) requirement for D-SIBs has already been phased-in from 1st April 2016 and fully effective from 01st April 2019, the RBI stated, releasing the list for 2018.

Q15. YONO is an integrated digital banking platform offered by State Bank of India (SBI) to enable users to access a variety of financial and other services such as taxi bookings, online shopping, or medical bill payments. YONO stands for-
You Only Need Only
You Only Need One
You Only Nation One
Yahoo Only Need One
You Only Never One
Solution:
YONO (You Only Need One) is an integrated digital banking platform offered by State Bank of India (SBI) to enable users to access a variety of financial and other services such as taxi bookings, online shopping, or medical bill payments. YONO is offered as a smartphone app for both Android and iOS.
               



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