Banking Quiz for Canara Bank PO Exam 2018: 27th February 2018

Dear Aspirants,

Banking Quiz for Canara 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 Quiz  not only helps you deal with the General Awareness Section of Banking Exams but also, the Personal Interview round of Banking Recruitment.

Q1. What is the Minimum Amount for opening of account that can be retained of 5-Year Post Office RD Account?
(a) 10/- per month
(b) 50/- per month
(c) 100/- per month
(d) 5/- per month
(e) 1/- per month

S1. Ans.(a)
Sol. Rs 10 the Minimum Amount for opening of account that can be retained of 5-Year Post Office RD Account.

Q2. RD Account stands for-
(a) Resident Deposit Account
(b) Recurring Deposit Account
(c) Regional Deposit Account
(d) Regular Deposit Account
(e) Repayment Deposit Account

S2. Ans.(b)
Sol. RD Account stand for- Recurring Deposit Account (RD).

Q3. What is the maximum balance of account that can be retained of 5-Year Post Office RD Account?
(a) 10 lakh
(b) 1 crore
(c) No limit
(d) 1 lakh
(e) 50 lakh

S3. Ans.(c)
Sol. There is no limit of maximum balance of account that can be retained of 5-Year Post Office RD Account.

Q4. What is the interest rate of Post Office RD Account (As on 01st January 2018)?
(a) 6.1% per annum (quarterly compounded)
(b) 6.3% per annum (quarterly compounded)
(c) 6.5% per annum (quarterly compounded)
(d) 6.9% per annum (quarterly compounded)
(e) 6.7% per annum (quarterly compounded)

S4. Ans.(d)
Sol. The interest rate of Post Office RD Account (As on 01st January 2018) is 6.9% per annum (quarterly compounded).

Q5. What is the silent features of 5-Year Post Office RD Account?
(a) Account can be opened by cash / Cheque and in case of Cheque the date of deposit shall be date of presentation of Cheque.
(b) Nomination facility is available at the time of opening and also after opening of account.
(c) Account can be transferred from one post office to another.
(d) Account can be opened in the name of minor and a minor of 10 years and above age can open and operate the account.
(e) All of the given options are the silent features of 5-Year Post Office RD Account.

S5. Ans.(e)
Sol. Salient features including Tax Rebate of 5-Year Post Office RD Account.
1. Account can be opened by cash / Cheque and in case of Cheque the date of deposit shall be date of presentation of Cheque.
2. Nomination facility is available at the time of opening and also after opening of account.
3. Account can be transferred from one post office to another.
4. Any number of accounts can be opened in any post office.
5. Account can be opened in the name of minor and a minor of 10 years and above age can open and operate the account.
6. Joint account can be opened by two adults.

Q6. India’s first home-grown high purity gold reference standard - the Bharatiya Nirdeshak Dravya (BND-4201) - was launched at the India Government Mint, Mumbai. The India Government Mint operates ________ mints in the country for the production of coins.
(a) five
(b) three
(c) four
(d) two
(e) six

S6. Ans.(c)
Sol. India’s first home-grown high purity gold reference standard - the Bharatiya Nirdeshak Dravya (BND-4201) - was launched at the India Government Mint, Mumbai. BND-4201, which is the reference material for gold of ‘9999’ fineness (gold that is 99.99 per cent pure), will be beneficial to the consumers and public at large to ensure purity of gold. The India Government Mint operates four mints in the country for the production of coins.

Q7. The World Bank has committed ____________ loan to India for the STRIVE project for skill development.
(a) Rs 800 crore
(b) Rs 1300 crore
(c) Rs 2300 crore
(d) Rs 3800 crore
(e) Rs 1700 crore

S7. Ans.(a)
Sol. The World Bank has committed $125 million (around Rs800 crore) loan to India for the STRIVE project for skill development. The objective of the operation (Skills Strengthening for Industrial Value Enhancement) is to improve access to quality and market-driven vocational training as well as apprenticeships. The financing agreement was signed between the World Bank and the Finance Ministry.

Q8. Who is present President of World Bank?
(a) Jim Yong Kim
(b) Takehiko Nakao
(c) Jin Liqun
(d) Roberto Azevedo
(e) Pascal Lamy

S8. Ans.(a)
Sol. Jim Yong Kim is present President of World Bank.

Q9. The dimension of the new Rs 10 banknote will be-
(a) 56 mm x 136 mm
(b) 63 mm x 123 mm
(c) 71 mm x 142 mm
(d) 67 mm x 166 mm
(e) 74 mm x 183 mm

S9. Ans.(b)
Sol. The Reserve Bank of India has announced to issue Rs10 denomination banknotes in the Mahatma Gandhi (New) Series, bearing the signature of Dr. Urjit R. Patel, Governor, RBI. The new denomination has motif of Sun Temple, Konark on the reverse, depicting the country's cultural heritage. The base colour of the note is Chocolate Brown. The dimension of the banknote will be 63 mm x 123 mm.

Q10. Who is the present Chairman of IndusInd Bank?
(a) Renu Satti
(b) Gopal Chandra
(c) R Seshasayee
(d) Vijay Shekhar Sharma
(e) Vinod Rai

S10. Ans.(c)
Sol. IndusInd Bank Chairman- R. Seshasayee, Headquarter- Mumbai, Owner- Hinduja Group.

Q11. Each subscriber under APY shall receive a Central Government guaranteed minimum pension of- 
(a) Rs. 2000 per month
(b) Rs. 3000 per month
(c) Rs. 4000 per month
(d) Rs. 1000 per month
(e) Rs. 5000 per month

S11. Ans.(d)
Sol.  Each subscriber under APY shall receive a Central Government guaranteed minimum pension of Rs. 1000 per month or Rs. 2000 per month or Rs. 3000 per month or Rs. 4000 per month or Rs. 5000 per month, after the age of 60 years until death.

Q12. What is the Minimum Amount for opening of account that can be retained of Post Office Time Deposit Account?
(a) INR 200/.
(b) INR 1000/.
(c) INR 1200/.
(d) INR 1500/.
(e) INR 2000/.

S12. Ans.(a)
Sol. Minimum Amount for opening of account that can be retained of Post Office Time Deposit Account is Rs. 200.

Q13. What is the interest rate of Post Office 5 years Time Deposit Account (As on 01st January 2018)?
(a) 7.7%
(b) 7.3%
(c) 7.4%
(d) 7.1%
(e) 7.9%

S13. Ans.(c)
Sol. The interest rate of Post Office 5 years Time Deposit Account (As on 01st January 2018) is 7.4%.

Q14. All resident individuals is eligible to open a MIS account in single/joint name/s. MIS stands for-
(a) Monthly Investment Scheme
(b) Monthly Income Service
(c) Monthly Installment Scheme
(d) Money Income Scheme
(e) Monthly Income Scheme

S14. Ans.(e)
Sol. MIS stands for Monthly Income Scheme.

Q15. What is the Maximum investment limit in single account of Post Office MIS Account?
(a) Rs 6.00 lakh 
(b) Rs 4.50 lakh
(c) Rs 9.00 lakh 
(d) Rs 11.50 lakh 
(e) Rs 1.50 lakh

S15. Ans.(b)
Sol. Maximum investment limit is INR 4.5 lakh in single account and INR 9 lakh in joint account of Post Office MIS Account.


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