Banking Quiz for Canara Bank and Syndicate Bank PO Exam

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 Bank has tied up with Digital invoice discounting marketplace - Invoicemart to discount invoices for MSMEs?
(a) ICICI Bank
(b) State Bank of India
(c) Vijaya Bank
(d) Bank of Baroda
(e) Canara Bank

S1. Ans.(d)
Sol. Digital invoice discounting marketplace- Invoicemart has tied up with state-run lender Bank of Baroda to discount invoices for MSMEs. Buyers and sellers registered in the marketplace will now be able to access funding from Bank of Baroda.

Q2. India’s most-valued lender ____________________ crossed Rs 5 trillion market capitalisation for the first time, making it only the third Indian company to achieve this milestone.
(a) ICICI Bank
(b) HDFC Bank
(c) State Bank of India
(d) Axis Bank
(e) Bank of India

S2. Ans.(b)
Sol. India’s most-valued lender HDFC Bank Ltd crossed Rs 5 trillion market capitalisation for the first time, making it only the third Indian company to achieve this milestone.

Q3. Amplus Energy Solutions announced entering into a pact with private sector lender ___________ for strategic tie-up to co-finance projects in the solar energy space in India. 
(a) Axis Bank
(b) ICICI Bank
(c) HDFC Bank
(d) IDFC Bank
(e) Yes Bank

S3. Ans.(e)
Sol. Amplus Energy Solutions announced entering into a pact with private sector lender Yes Bank for strategic tie-up to co-finance projects in the solar energy space in India. The memorandum of understanding (MoU) was signed at International Solar Alliance pavilion at the World Future Energy Summit, Abu Dhabi.

Q4. Which Bank has signed an MoU with LIC to offer Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)? 
(a) Capital Local Area Bank Limited
(b) Equitas Holdings P Limited
(c) AU Small Finance Bank
(d) India Post Payments Bank
(e) Fincare Small Finance Bank

S4. Ans.(c)
Sol. Banking finance company AU Small Finance Bank has signed an MoU with LIC to offer Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY). Under the MoU, LIC will give a life cover of Rs2 lakh in case of death to the customer at a nominal premium of Rs330 per annum.

Q5. India Ratings and Research has projected the country’s economic growth to improve to __________ in 2018-19 from ________ in 2017-18, buoyed by robust consumption demand and low commodity prices.
(a) 7.1 percent and 6.5 percent
(b) 7.2 percent and 6.4 percent
(c) 7.3 percent and 6.3 percent
(d) 6.8 percent and 6.9 percent
(e) 6.4 percent and 6.1 percent

S5. Ans.(a)
Sol. India Ratings and Research has projected the country’s economic growth to improve to 7.1 percent in 2018-19 from 6.5 percent in 2017-18, buoyed by robust consumption demand and low commodity prices.

Q6. The Indian government has announced an allocation of ________________ over 2 years for the recapitalization of public sector banks.
(a) Rs 30.74 lakh crore
(b) Rs 2.11 lakh crore
(c) Rs 17.53 lakh crore
(d) Rs 12.43 lakh crore
(e) Rs 9.27 lakh crore

S6. Ans.(b)
Sol. The Indian government has announced an allocation of Rs 2.11 lakh crore over 2 years for the recapitalization of public sector banks.

Q7. India broke into the top 100 in the World Bank’s Ease of Doing Business rankings, notching up the biggest improvement among all countries on the back of big gains on a number of measures. Which country has topped in Ease of Doing Business rankings 2017?
(a) Norway
(b) Singapore
(c) New Zealand
(d) Switzerland
(e) Denmark

S7. Ans.(c)
Sol. India broke into the top 100 in the World Bank’s Ease of Doing Business rankings, notching up the biggest improvement among all countries on the back of big gains on a number of measures. New Zealand has topped in Ease of Doing Business rankings 2017.

Q8. China-sponsored Asian Infrastructure Investment Bank (AIIB) approved USD 2 million loan (Rs. 13,000 crores) for five projects in-
(a) Gujarat
(b) West Bengal
(c) Assam
(d) Kerala
(e) Andhra Pradesh

S8. Ans.(e)
Sol. China-sponsored Asian Infrastructure Investment Bank (AIIB) approved USD 2 million loan (Rs. 13,000 crores) for five projects in Andhra Pradesh. The five projects include two roads and buildings department, one each for rural safe drinking water department, municipal and urban development department and Panchayat Raj department.

Q9. The Reserve Bank of India has imposed a monetary penalty of ____________ on IDFC Bank for contravention of regulatory restrictions pertaining to loans and advances.
(a) Rs 2 crore
(b) Rs 4 crore
(c) Rs 10 crore
(d) Rs 6 crore
(e) Rs 12 crore

S9. Ans.(a)
Sol. The Reserve Bank of India has imposed a monetary penalty of Rs 2 crore on IDFC Bank for contravention of regulatory restrictions pertaining to loans and advances.

Q10. The State Bank of India has slashed IMPS charges up to 80 percent. IMPS stands for-
(a) Immediate Payment Sending
(b) Immediate Payment Sale
(c) Immediate Payment Solution
(d) Immediate Payment Service
(e) Immediate Payment System

S10. Ans.(d)
Sol. The State Bank of India has slashed Immediate Payment Service (IMPS) charges up to 80 percent. If the users are doing an online transaction of money after selecting IMPS option, then they will have to pay 80% less charge than what they used to pay earlier.

Q11. ___________ is a computerized machine that provides the customers of banks the facility of accessing their account for dispensing cash and to carry out other financial & non-financial transactions without the need to actually visit their bank branch.
(a) Financial Fund
(b) Core Sector
(c) Online Banking
(d) ATM
(e) Net Banking

S11. Ans.(d)
Sol. Automated Teller Machine (ATM) is a computerized machine that provides the customers of banks the facility of accessing their account for dispensing cash and to carry out other financial & non-financial transactions without the need to actually visit their bank branch.

Q12. PIN is the numeric password which is separately mailed/handed over to the customer by the bank while issuing the card. PIN stands for-
(a) Personal Identification Number
(b) Product Identification Number
(c) Payment Identification Number
(d) Permanent Identification Number
(e) Percent Identification Number

S12. Ans.(a)
Sol. Personal Identification Number (PIN) is the numeric password which is separately mailed/handed over to the customer by the bank while issuing the card. Most banks require the customers to change the PIN on the first use. Customer should not disclose PIN to anybody, including to bank officials. Customers should change the PIN at regular intervals.

Q13. What is the meaning of "T" in ATM?
(a) Time
(b) Trade
(c) Teller
(d) Timing
(e) Treat

S13. Ans.(c)
Sol. ATM stands for- Automated Teller Machine.

Q14. What are White Label ATMs (WLAs)?
(a) Owned and operated by non-banks
(b) ATM operators are authorized under Payment & Settlement Systems Act, 2007
(c) WLAs may offer many other services/facilities to bank customers
(d) All of the above
(e) Owned and operated by PSBs

S14. Ans.(d)
Sol. All of the given options are properties of White Label ATMs (WLAs) except Owned and operated by PSBs.

Q15. LTV ratio is a financial term used by lenders to express the ratio of a loan to the value of an asset purchased. LTV stands for-
(a) Loan-To-Vehicles
(b) Loan-To-Value
(c) Loan-To-Van
(d) Lease-To-Value
(e) List-To-Value

S15. Ans.(b)
Sol. The loan-to-value (LTV) ratio is a financial term used by lenders to express the ratio of a loan to the value of an asset purchased.


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