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. In which of the following types of banking, there is a direct execution of transaction between a bank and its consumers?
(a) Retail Banking
(b) Universal Banking
(c) Virtual Banking
(d) Unit Banking
(e) None of the given options is true

S1. Ans.(a)
Sol. Retail banking also known as Consumer Banking is the provision of services by a bank to individual consumers, rather than to companies, corporations or other banks. Services offered include savings and transactional accounts, mortgages, personal loans, debit cards, and credit cards.

Q2. Maximum loan amount to individuals against physical security shares can be _____
(a) 20 lakh
(b) 15 lakh
(c) 25 lakh
(d) 50 lakh
(e) 10 lakh

S2. Ans.(e)
Sol. Loans/ advances granted to individuals against the security of shares, debentures and PSU bonds should not exceed Rs.10 lakh and Rs.20 lakh, if the securities are held in physical form and dematerialized form respectively.

Q3. The process by which the central bank of a country controls the supply of money in the economy by exercising its control over interest rates in order to maintain price stability and achieve high economic growth is known as:
(a) Economic Policy
(b) Monetary Policy
(c) Fiscal Policy
(d) Credit Policy
(e) Budgetary Policy

S3. Ans.(b)
Sol. Monetary Policy is the process by which monetary authority of a country, generally a central bank controls the supply of money in the economy by exercising its control over interest rates in order to maintain price stability and achieve high economic growth. In India, the central monetary authority is the Reserve Bank of India (RBI). is so designed as to maintain the price stability in the economy.

Q4. Loans granted by a bank to an exporter popularly known as ‘Export credit’ is guaranteed, in case of default,by which of the following
(a) EXIM Bank
(b) Ministry of International Trade, GOA
(c) ECGC
(d) DICGC
(e) None of the given options is true

S4. Ans.(c)
Sol. ECGC Limited (Formerly Export Credit Guarantee Corporation of India Ltd) is a company wholly owned by the Government of India based in Mumbai, Maharashtra. It provides export credit insurance support to Indian exporters and is controlled by the Ministry of Commerce.

Q5. Who amongst the following is the regulator in the financial system of the country?
(a) OIC
(b) SEBI
(c) CRISIL
(d) TRAN
(e) CERC

S5. Ans.(b)
Sol. The financial system in India is regulated by independent regulators in the field of banking, insurance, capital market, commodities market, and pension funds. Example of Financial Regulators: RBI, IRDAI, SEBI, PFRDA.

Q6. Many a time we read in the newspapers that RBI has changed or revised a particular ratio/rate by a few basis points. What is basis point? 
(a) Ten percent of one-hundredth point 
(b) One hundredth of 1%
(c) One hundredth of 10% 
(d) Ten per cent of 1000
(e) None of the given options is true

S6. Ans.(b)
Sol. A basis point is the smallest measure used in quoting yields on fixed income products. Basis points also pertain to interest rates. One basis point is equal to one one-hundredth of one percentage point (0.01%). Therefore, 100 basis points would be equivalent to 1%.

Q7. Which of the following is not a type of cheque issued by an individual? 
(a) Bearer cheque 
(b) Order cheque 
(c) Crossed cheque 
(d) Savings cheque 
(e) None of the given options is true

S7. Ans.(d)
Sol. Savings cheque is not a type of cheque issued by an individual.

Q8. What is Financial Inclusion? 
(a) To provide a permanent employment to the unemployment 
(b) To provide a 100 days job to all those who are in need of a job 
(c) Delivery of financial services at affordable costs to vast sections of disadvantaged and low income groups
(d) To ensure that all financial transaction amounting Rs. 5,000/- and above are done through banks. 
(e) None of the given options is true

S8. Ans.(c)
Sol. Financial inclusion may be defined as the process of ensuring access to financial services and timely and adequate credit where needed by vulnerable groups such as weaker sections and low income groups at an affordable cost (The Committee on Financial Inclusion, Chairman: Dr. C. Rangarajan).

Q9. Which of the following places in India does not have a stock Exchange? 
(a) Kolkata 
(b) Ahmedabad 
(c) Mumbai 
(d) Udaipur
(e) None of the given options is true

S9. Ans.(d)
Sol. In Udaipur, Rajasthan does not have a stock Exchange.

Q10. Which of the following is the name of private sector Bank in India? 
(a) IDBI Bank 
(b) Axis Bank 
(c) Corporation Bank 
(d) UCO Bank
(e) Dena Bank

S10. Ans.(b)
Sol. Axis Bank Ltd is one of the private-sector banks in India offering a comprehensive suite of financial products. The bank has its head office in Mumbai and Registered office in Ahmedabad.

Q11. Which country has becames the first country to roll out its own digital cash recently?
(a) Peru
(b) Estonia
(c) Japan
(d) Eduador
(e) Kenya

S11. Ans.(d)
Sol. Ecuador becomes the first country to roll out its own digital cash.

Q12. The International Monetary Fund has approved a new USD 88 billion credit line for __________ replacing the existing line.
(a) Mexico
(b) Japan
(c) Russia
(d) France
(e) Ireland

S12. Ans.(a)
Sol. The International Monetary Fund has approved a new USD 88 billion credit line for Mexico, replacing the existing line. The two-year flexible credit line boosts Mexico’s ability to immediately deal with a potential need for liquidity, without having to request an IMF loan.

Q13. The government has fixed 2,952 rupees per gram as price of new series of SGBs recently. SGBs stands for-
(a) Services Gold Bonds
(b) Sovereign Green Bonds
(c) Sovereign Gold Bonds
(d) Sovereign Gold Banks
(e) Systematic Gold Bonds

S13. Ans.(c)
Sol. The government has fixed 2,952 rupees per gram as price of new series of sovereign gold bonds (SGBs). The government, in consultation with the Reserve Bank, has decided to offer a discount of Rs 50 per gram to investors applying online and making payments digitally.

Q14. The government of India has increased the budget of Agricultural Education by __________ this year as compared to the financial year 2013-14.
(a) 71.3% 
(b) 83.7% 
(c) 53.6% 
(d) 36.2% 
(e) 47.4%

S14. Ans.(e)
Sol. The government of India has increased the budget of Agricultural Education by 47.4% this year as compared to the financial year 2013-14. According to the Agriculture Minister Radha Mohan Singh, in order to adopt quality and holistic approach to higher agricultural education, the Fifth Dean Committee Report has been implemented in all the Agricultural Universities.

Q15. Which Bank has launched its RuPay Select and RuPay Platinum credit cards recently?
(a) Dena Bank
(b) Corporation Bank
(c) Bank of Baroda
(d) State Bank of India
(e) Punjab National Bank

S15. Ans.(b)
Sol. Corporation Bank has launched its RuPay Select and RuPay Platinum credit cards. Corporation Bank’s RuPay credit cards are accepted at all RuPay-enabled 1.5 million plus PoS terminals and 80,000 plus e-commerce merchants in India and all ICS Partner acceptance points (POS, e-commerce merchants) globally.


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