Banking Quiz for Canara Bank and Syndicate Bank PO Exam 2018

Dear Aspirants,

Banking Quiz for Canara Bank and Syndicate Bank PO Exam 2018

Banking Awareness for Canara Bank PO

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 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 Private sector Bank has launched the fourth edition of ‘Evolve’ in Coimbatore, Tamil Nadu recently?
(a) Kotak Mahindra Bank
(b) ICICI Bank
(c) HDFC Bank
(d) Axis Bank
(e) South Indian Bank

S1. Ans.(d)
Sol. Private sector Axis Bank launched the fourth edition of ‘Evolve’ in Coimbatore, Tamil Nadu. It is an annual multi-city knowledge series for Bank’s small and medium-sized enterprises (SME) customers. The current edition of 'evolve' is titled as “Transform your Family Business into your dream company”.

Q2. Indian Overseas Bank (IOB) has received ____________ crore capital infusion from the government in the current fiscal.
(a) Rs 1177.07 crore
(b) Rs 173.06 crore
(c) Rs 1548.03 crore
(d) Rs 453.05 crore
(e) Rs 1000.09 crore

S2. Ans.(b)
Sol. Indian Overseas Bank (IOB) has received Rs173.06 crore capital infusion from the government in the current fiscal. In a regulatory filing, IOB has received Rs173.06 crore a the contribution of the central government in the preferential allotment of equity shares of the bank as government’s investment during the 2017-18 fiscal.

Q3. The Reserve Bank of India will link the base rate with the MCLR from 1st of April 2018 to ensure expeditious transmission of its policy rate to borrowers. What is the meaning of "R" in MCLR?
(a) Ratio
(b) Reimburse
(c) Risk
(d) Reserve
(e) Rates

S3. Ans.(e)
Sol. The Reserve Bank of India will link the base rate with the MCLR from 1st of April 2018 to ensure expeditious transmission of its policy rate to borrowers. The RBI had introduced the Marginal Cost of Funds based Lending Rates (MCLR) system with effect from 1st April 2016, the Central bank observed that a large proportion of bank loans continue to be linked to Base Rate.

Q4. The Reserve Bank of India announced setting up ombudsman for addressing customer grievances in the non-banking finance companies. The Banking Ombudsman Scheme is introduced under Section 35 A of the Banking Regulation Act, 1949 by RBI with effect from-
(a) 1991
(b) 1993
(c) 1995
(d) 1997
(e) 1999

S4. Ans.(c)
Sol. The Reserve Bank of India announced setting up ombudsman for addressing customer grievances in the non-banking finance companies. The rules will be laid out by the end of February 2018. 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.

Q5. Which Bank has launched its new Sonic Identity, which is essentially a musical logo called 'MOGO', as part of its branding initiatives?
(a) IndusInd Bank
(b) Lakshmi Vilas Bank
(c) RBL Bank
(d) Karnataka Bank
(e) Karur Vysya Bank

S5. Ans.(a)
Sol. IndusInd Bank launched its new Sonic Identity, which is essentially a musical logo called 'MOGO', as part of its branding initiatives. The objective for associating to a sonic identity is building the Bank's brand imagery with the strategic use of music and sound for brand experiences and audience connection.

Q6. The country’s largest lender SBI wrote off bad loans worth ____________ crore in 2016-17, the highest among all the public sector banks, which had a collective write off of Rs 81,683 crore for the fiscal. 
(a) Rs 12,211 crore
(b) Rs 14,416 crore
(c) Rs 28,712 crore
(d) Rs 20,339 crore
(e) Rs 45,102 crore

S6. Ans.(d)
Sol. The country’s largest lender SBI wrote off bad loans worth Rs 20,339 crore in 2016-17, the highest among all the public sector banks, which had a collective write off of Rs 81,683 crore for the fiscal. The data pertains to the period when the associate banks of State Bank of India (SBI) were not merged with it.

Q7. In GVA growth for 2017-18 is projected at ________ in 6th Bi-Monthly Monetary Policy Statement (2017-18) Released By RBI.
(a) 6.6%
(b) 6.5%
(c) 6.4%
(d) 6.3%
(e) 6.7%

S7. Ans.(a)
Sol. On the basis of an assessment of the current and evolving macroeconomic situation at its meeting, the Monetary Policy Committee (MPC) decided to keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.0% in 6th Bi-Monthly Monetary Policy Statement (2017-18) Released By RBI. Consequently, the Reverse Repo Rate (RRR) under the LAF remains at 5.75%, and the Marginal Standing Facility (MSF) rate and the Bank Rate at 6.25%. GVA growth for 2017-18 is projected at 6.6%. GVA growth for 2018-19 is projected at 7.2% overall with risks evenly balanced.

Q8. The government and World Bank signed a _______________ loan agreement to promote rural economy in selected blocks of Tamil Nadu across 26 districts, benefiting over 4 lakh people.
(a) $2000 million
(b) $1500 million
(c) $1000 million
(d) $500 million
(e) $100 million

S8. Ans.(e)
Sol. The government and World Bank signed a $100 million (about Rs 6,40 crore) loan agreement to promote rural economy in selected blocks of Tamil Nadu across 26 districts, benefiting over 4 lakh people.

Q9. The Central Statistics Office (CSO) revised the gross domestic product (GDP) growth rate for 2015-16 to 8.2% from the earlier estimates of 8% and kept the 2016-17 growth unchanged at-
(a) 7.6%
(b) 7.3%
(c) 7.1%
(d) 7.5%
(e) 7.9%

S9. Ans.(c)
Sol. The Central Statistics Office (CSO) revised the gross domestic product (GDP) growth rate for 2015-16 to 8.2% from the earlier estimates of 8% and kept the 2016-17 growth unchanged at 7.1%. The real GDP or GDP at constant (2011-12) prices for the years 2016-17 and 2015-16 stand at Rs121.96 trillion and Rs 113.86 trillion respectively, according to the CSO statement.

Q10. Direct tax collections grew by nearly 20 per cent between April and January this year with strong growth in both corporate and personal income tax receipts. Which among the following is not a direct tax?
(a) Corporate Tax
(b) Sales Tax
(c) Income Tax 
(d) Wealth Tax
(e) Fringe Benefit Tax

S10. Ans.(b)
Sol. Direct tax collections grew by nearly 20 per cent between April and January this year with strong growth in both corporate and personal income tax receipts. According to official data released, net direct tax collections grew by 19.3 per cent up to January 2018 to Rs 6.95-lakh crore. Sales tax is a indirect tax.

Q11. Who has been appointed as non-executive chairman of NPCI for two years with immediate effect?
(a) Syed Mahmud Hossain
(b) Hardayal Prasad
(c) Biswamohan Mahapatra
(d) Vikram Singh Sisodia
(e) Neelam Kapur

S11. Ans.(c)
Sol. National Payments Corporation of India (NPCI) appointed Biswamohan Mahapatra as non-executive chairman for two years with immediate effect. He succeeds B Sambamurthy who was the interim chairman.

Q12. SBI Card, the country's second-largest credit card issuer, has appointed _____________ as new Managing Director (MD) & Chief Executive Officer (CEO) of the company. 
(a) Hardayal Prasad
(b) Chandrashekar Kambar 
(c) Shantanu Narayen
(d) Usha Ananthasubramanian
(e) S Somanath

S12. Ans.(a)
Sol. SBI Card, the country's second-largest credit card issuer, has appointed Hardayal Prasad as new Managing Director (MD) & Chief Executive Officer (CEO) of the company. He has replaced Vijay Jasuja.

Q13. The Union Minister for Finance and Corporate Affairs Mr Arun Jaitley launched CriSidEx, India’s first sentiment index for micro and small enterprises ( MSEs) developed jointly by-
(a) TRAI and SBI
(b) IRDAI and NPCI
(c) RBI and SEBI
(d) NABARD and FICCI
(e) CRISIL and SIDBI

S13. Ans.(e)
Sol. The Union Minister for Finance and Corporate Affairs Mr Arun Jaitley launched CriSidEx , India’s first sentiment index for micro and small enterprises ( MSEs) developed jointly by CRISIL & SIDBI.

Q14. The Centre has sanctioned projects over ____________ rupees in the North East for better network connectivity. 
(a) 20,000 crore rupees 
(b) 10,000 crore rupees
(c) 30,000 crore rupees 
(d) 50,000 crore rupees 
(e) 70,000 crore rupees

S14. Ans.(b)
Sol. The Centre has sanctioned projects over 10,000 crore rupees in the North East for better network connectivity. 2 MoUs have been signed to cover the uncovered areas in the North East including Assam and Arunachal Pradesh.

Q15. Who is present Chairman & Managing Director of SIDBI?
(a) Yaduvendra Mathur
(b) RS Sharma
(c) Manoj Mittal
(d) Mohammad Mustafa
(e) AK Kapur

S15. Ans.(d)
Sol. Mohammad Mustafa, a 1995 batch IAS officer, as Chairman and Managing Director of Small Industries Development Bank of India (SIDBI).


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