Banking Quiz for Canara Bank and Syndicate Bank PO Exam 2018

Dear Aspirants,

Banking Quiz for Canara Bank and Syndicate Bank PO Exam 2018


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. 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

S1. 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.

Q2. 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

S2. 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.

Q3. 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

S3. 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.

Q4. 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

S4. 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.

Q5. 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

S5. 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.

Q6. The RBI has issued guidelines to banks will provide funds to women self help groups, SHGs, in rural areas at ______ under the Deendayal Antyodaya Yojana - National Rural Livelihoods Mission (DAY-NRLM) in the current fiscal (2017-18). 
(a) 6 percent
(b) 5 percent
(c) 9 percent
(d) 8 percent
(e) 7 percent

S6. Ans.(e)
Sol. The RBI has issued guidelines to banks will provide funds to women self help groups, SHGs, in rural areas at 7 per cent under the Deendayal Antyodaya Yojana - National Rural Livelihoods Mission (DAY-NRLM) in the current fiscal (2017-18). The central bank has revised guidelines on interest subvention scheme under DAY-NRLM, as received from the Ministry of Rural Development for implementation by 21 public sector banks and 19 private banks.

Q7. The Reserve Bank of India has clarified that linking of Aadhaar to the bank account is mandatory under the Prevention of Money-Laundering (Maintenance of Records) Second Amendment Rules, 2017 published in the Official Gazette on 01st June 2017. PMLA and the Rules notified there under came into force with effect from-
(a) 01st July 2007
(b) 01st July 2006
(c) 01st July 2008
(d) 01st July 2005
(e) 01st July 2002

S7. Ans.(d)
Sol. The Reserve Bank of India has clarified that linking of Aadhaar to the bank account is mandatory under the Prevention of Money-Laundering (Maintenance of Records) Second Amendment Rules, 2017 published in the Official Gazette on 01st June 2017. The clarification comes after a section of the media reported while quoting a reply to a Right to Information Act application that linking of bank accounts with Aadhaar is not mandatory. PMLA and the Rules notified there under came into force with effect from 01st July 2005.

Q8. India Post Payments Bank (IPPB) has appointed __________ as its Managing Director & Chief Executive Officer.
(a) Manoj Kumar
(b) Rakesh Pahwa
(c) Suresh Sethi
(d) AP Singh
(e) None of the given options is true

S8. Ans.(c)
Sol. India Post Payments Bank (IPPB) has appointed Mr. Suresh Sethi as its Managing Director & Chief Executive Officer. Mr Sethi was the former MD of Vodafone M-Pesa Ltd. Mr. Sethi takes over from the dynamic leadership of Mr. A.P. Singh who had been the interim MD & CEO of IPPB since January 2017.

Q9. Which among the following bank has launched the second edition of its Hackathon named 'Digitize For Bank.' This hackathon will be held from 1st to 12th November 2017.
(a) ICICI Bank
(b) State Bank of India
(c) Punjab National Bank
(d) Central Bank of India
(e) Bank of Baroda

S9. Ans.(b)
Sol. The State Bank of India has launched the second edition of its Hackathon named 'Digitize For Bank.'  This hackathon will be held from 1st to12th November 2017. It is presented by SBI Collaborative Innovation Centre (CIC). This edition focuses on four ‘Cognitive’ themes namely Facial Recognition, Signature Recognition, Voice based Authentication and Cheque Truncation Value Enhancers.

Q10. Which company has became the first Indian company to cross Rs 6 trillion market capitalization after its shares surged over 75% so far this year and hit a fresh lifetime?
(a) Wipro Limited 
(b) Tata Power
(c) Reliance Industries Ltd (RIL)
(d) Bharti Airtel
(e) Infosys

S10. Ans.(c)
Sol. Reliance Industries Ltd (RIL) became the first Indian company to cross Rs 6 trillion market capitalization after its shares surged over 75% so far this year and hit a fresh lifetime high.

Q11. In the field of banking, what does ADF stand for?
(a) Additional Dearness Allowance
(b) Automated Data Flow
(c) Additional Deposit Allowance
(d) Automated Deposit Allowance
(e) None of the given options is true

S11. Ans.(b)
Sol. The Automated Data Flow (ADF) is a unique initiation by RBI aimed at the purpose of meeting the needs for accurate and consistent flow of data. Automated Data Flow ensures that the data submitted from the banks to Reserve Bank of India is correct and consistent without any kind of manual intervention.

Q12. Which of the following is governed by the provisions of Section 42 (1) of the Reserve Bank of India Act, 1934?
(a) Bank rate
(b) Reverse Repo Rate
(c) SLR
(d) CRR
(e) MSF

S12. Ans.(d)
Sol. CRR is governed by the provisions of Section 42 (1) of the Reserve Bank of India Act, 1934.

Q13. National Sample Survey Organisation (NSSO) is an organization under the-
(a) Ministry of Finance
(b) Ministry of Rural Development
(c) Ministry of Commerce and Industry
(d) Ministry of Electronics and Information Technology
(e) Ministry of Statistics and Programme Implementation

S13. Ans.(e)
Sol. The National Sample Survey Organisation (NSSO), now known as National Sample Survey Office, is an organization under the Ministry of Statistics and Programme Implementation of the Government of India. It is the largest organisation in India conducting regular socio-economic surveys.

Q14. BCSBI was registered as a society under the _____________ in February 2006.
(a) Companies Act, 1956
(b) Societies Registration Act, 1860
(c) Banking Regulation Act, 1949
(d) Reserve Bank of India Act, 1934
(e) None of the given options is true

S14. Ans.(b)
Sol. The Banking Codes and Standards Board of India was registered as a society under the Societies Registration Act, 1860 in February 2006. It functions as an independent and autonomous body. Membership of BCSBI is voluntary and open to scheduled banks.

Q15. The Financial Stability Board (FSB) is an international body for the global financial system, has placed India in the league of countries that are 'compliant or largely compliant’ on the implementation of priority area reforms. In which among the following year FSB was established?
(a) 2001
(b) 2009
(c) 2003
(d) 2015
(e) 1997

S15. Ans.(b)
Sol. The Financial Stability Board (FSB), an international body for the global financial system, has placed India in the league of countries that are 'compliant or largely compliant’ on the implementation of priority area reforms. Ahead of the G20 Summit in Germany to be attended by Prime Minister Narendra Modi, among other world leaders, the FSB has submitted its status report on progress in financial regulatory reforms in various jurisdictions, including India. The FSB was established in April 2009 as the successor to the Financial Stability Forum (FSF).


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