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. India's largest digital bank _____________ is the only bank providing zero balance accounts and zero charges on digital transactions.
(a) India Post Payments Bank
(b) Paytm Payments Bank
(c) Airtel Payments Bank
(d) Fino Payments Bank 
(e) None of the given options is true

S1. Ans.(b)

Sol. India's largest digital bank Paytm Payments Bank is the only bank providing zero balance accounts and zero charges on digital transactions. The bank has unveiled 'Paytm Ka ATM' outlets that allows customers to open Saving Accounts and deposit/withdraw money from their bank accounts.

Q2. Name the company, which has become the first-ever broking arm of a bank to take membership of a commodity exchange by registering itself with NCDEX.
(a) South Securities
(b) Kotak Securities
(c) HDFC Securities
(d) ICICI Securities
(e) Axis Securities

S2. Ans.(e)

Sol. Axis Securities, a subsidiary of Axis Bank, has become the first-ever broking arm of a bank to take membership of a commodity exchange by registering itself with NCDEX.

Q3. BSE's India International Exchange (India INX) has received approval from the capital market regulator SEBI on the framework for the listing of debt securities. Who is the present Chairman of SEBI?
(a) Urjit Patel
(b) HK Bhanwala
(c) Ajay Tyagi
(d) UK Sinha
(e) Rajeev Mehrishi

S3. Ans.(c)

Sol. BSE's India International Exchange (India INX) has received approval from the capital market regulator SEBI on the framework for the listing of debt securities. Ajay Tyagi is the present Chairman of SEBI.

Q4. The RBI has triggered PCA against Corporation Bank in view of high non-performing loans and requirement to raise capital recently. PCA stands for-
(a) Prompt Corrective Area
(b) Prompt Corrective Action
(c) Prompt Concern Action
(d) Prompt Common Action
(e) Prime Corrective Action

S4. Ans.(b)

Sol. The Reserve Bank of India (RBI) has imposed certain restrictions on Corporation Bank on carrying out banking activities as its share of bad loans rose sharply. The RBI has triggered prompt corrective action (PCA) against it in view of high non-performing loans and requirement to raise capital.

Q5. The Reserve Bank of India (RBI) has imposed ____________ penalty on IndusInd Bank for breaching rules on income classification norms.
(a) Rs 15 crore
(b) Rs 7 crore
(c) Rs 10 crore
(d) Rs 3 crore
(e) Rs 20 crore

S5. Ans.(d)

Sol. The Reserve Bank of India (RBI) has imposed Rs 3 crore penalty on IndusInd Bank for breaching rules on income classification norms. As per the RBI Statement, the penalty was imposed after the regulator observed violation of various regulations issued by the RBI on non-performing loans and extension of non-fund based limits.

Q6. _________ account is opened by the investor while registering with an investment broker.
(a) Fixed Deposit Account
(b) Savings Bank Account
(c) Recurring Account
(d) Demat Account
(e) None of the given options is true

S6. Ans.(d)

Sol. DEMAT or De-materialized Account refers to a deposit made at an Indian financial institution that can be used for investing in shares of stocks and other financial assets.Securities are held electronically in a DEMAT Account, thereby eliminating the need for physical paper certificates.

Q7. Which of the following bank launches India’s first Mobile ATM?
(a) HDFC Bank
(b) Axis Bank
(c) ICICI Bank
(d) SBI
(e) Bank of Baroda

S7. Ans.(c)

Sol. India’s largest private sector bank, ICICI launched the “ATM on Wheels” country first Mobile ATM, in Mumbai. It was connected to the bank through the GPRS technology.

Q8. World’s first Bitcoin ATM located in-
(a) US
(b) Brazil
(c) Canada
(d) UK
(e) Japan

S8. Ans.(c)

Sol. The world’s first-ever Bitcoin ATM opened in Vancouver, Canada. It enables Bitcoin owners to exchange the digital currency for cash, and vice versa. Bitcoin is a digital currency also called crypto-currency that is not backed by any country’s central bank or government. Bitcoins can be traded for goods or services with vendors who accept Bitcoins as payment.

Q9. _______ is a financial market in which share prices are rising or expected to rise.
(a) Bear Market
(b) Bull Market
(c) Pig Market
(d) High Market
(e) None of the given options is true

S9. Ans.(b)

Sol. A bull market is a financial market of a group of securities in which prices are rising or are expected to rise. It means the economy is growing. The term “bull market” is most often used to refer to the stock market, but can be applied to anything that is traded, such as bonds, currencies and commodities.

Q10. Who was known as the “Father of Modern Economics”?
(a) Amartya Sen
(b) Karl Marx
(c) Adam Smith
(d) George Loewenstein
(e) None of the given options is true

S10. Ans.(c)

Sol. Adam Smith was an 18th-century philosopher renowned as the father of modern economics, and a major proponent of laissez-faire economic policies.

Q11. SMERA Ratings Limited is a full service Credit Rating Agency, registered with-
(a) ECAI
(b) RBI
(c) SEBI
(d) NSIC
(e) NABARD

S11. Ans.(c)

Sol. SMERA Ratings Limited is a full service Credit Rating Agency, registered with the Securities and Exchange Board of India (SEBI), and accredited by Reserve Bank of India (RBI) as an External Credit Assessment Institution (ECAI), for Bank Loan Ratings under BASEL-II norms. SMERA is empanelled with National Small Industries Corporation (NSIC), the nodal agency of the Ministry of MSME, Government of India to provide SMERA-D&B-NSIC Micro & Small Enterprises Rating for MSEs in India. SMERA has assigned more than 44,000 ratings since inception.

Q12. Which of the following is India’s first Credit Information Company?
(a) CRISIL
(b) CIBIL
(c) SMERA
(d) CERSAI
(e) CARE

S12. Ans.(b)

Sol. TransUnion CIBIL Limited is India’s first Credit Information Company, also commonly referred as a Credit Bureau. It collect and maintain records of individuals’ and non-individuals’ (commercial entities) payments pertaining to loans and credit cards.

Q13. Which of the following is an apex financial institution for housing?
(a) AIFI
(b) NHB
(c) DFI
(d) SIDBI 
(E) NABARD

S13. Ans.(b)

Sol. NHB is an apex financial institution for housing. NHB has been established with an objective to operate as a principal agency to promote housing finance institutions both at local and regional levels.

Q14. NHB is wholly owned by ______
(a) GOI
(b) RBI
(c) SEBI
(d) NABARD
(e) Finance Ministry

S14. Ans.(b)

Sol. NHB is wholly owned by Reserve Bank of India.

Q15. The International Bank for Reconstruction and Development (IBRD) is an international financial institutions that offer loans to-
(a) Multinational Banks
(b) Multinational Financial Institutions
(c) Middle Income Developing Countries
(d) Non Government Organizations
(e) None of the given options is true

S15. Ans.(c)

Sol. The International Bank for Reconstruction and Development (IBRD) is an international financial institution that offers loans to middle-income developing countries.