Banking Quiz for Canara Bank PO Exam 2018: 1st March 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. Which of the following Private sector Bank has launched the fourth edition of ‘Evolve’ in Coimbatore, Tamil Nadu recently?
(a) Kotak Mahindra Bank
(b) ICICI Bank
(c) HDFC Bank
(d) Axis Bank
(e) South Indian Bank

S1. Ans.(d)
Sol. Private sector Axis Bank launched the fourth edition of ‘Evolve’ in Coimbatore, Tamil Nadu. It is an annual multi-city knowledge series for Bank’s small and medium-sized enterprises (SME) customers. The current edition of 'evolve' is titled as “Transform your Family Business into your dream company”.

Q2. Indian Overseas Bank (IOB) has received ____________ crore capital infusion from the government in the current fiscal.
(a) Rs 1177.07 crore
(b) Rs 173.06 crore
(c) Rs 1548.03 crore
(d) Rs 453.05 crore
(e) Rs 1000.09 crore

S2. Ans.(b)
Sol. Indian Overseas Bank (IOB) has received Rs173.06 crore capital infusion from the government in the current fiscal. In a regulatory filing, IOB has received Rs173.06 crore a the contribution of the central government in the preferential allotment of equity shares of the bank as government’s investment during the 2017-18 fiscal.

Q3. The Reserve Bank of India will link the base rate with the MCLR from 1st of April 2018 to ensure expeditious transmission of its policy rate to borrowers. What is the meaning of "R" in MCLR?
(a) Ratio
(b) Reimburse
(c) Risk
(d) Reserve
(e) Rates

S3. Ans.(e)
Sol. The Reserve Bank of India will link the base rate with the MCLR from 1st of April 2018 to ensure expeditious transmission of its policy rate to borrowers. The RBI had introduced the Marginal Cost of Funds based Lending Rates (MCLR) system with effect from 1st April 2016, the Central bank observed that a large proportion of bank loans continue to be linked to Base Rate.

Q4. The Reserve Bank of India announced setting up ombudsman for addressing customer grievances in the non-banking finance companies. The Banking Ombudsman Scheme is introduced under Section 35 A of the Banking Regulation Act, 1949 by RBI with effect from-
(a) 1991
(b) 1993
(c) 1995
(d) 1997
(e) 1999

S4. Ans.(c)
Sol. The Reserve Bank of India announced setting up ombudsman for addressing customer grievances in the non-banking finance companies. The rules will be laid out by the end of February 2018. The Banking Ombudsman Scheme is an expeditious and inexpensive forum for bank customers for resolution of complaints relating to certain services rendered by banks. The Banking Ombudsman Scheme is introduced under Section 35 A of the Banking Regulation Act, 1949 by RBI with effect from 1995.

Q5. Which Bank has launched its new Sonic Identity, which is essentially a musical logo called 'MOGO', as part of its branding initiatives?
(a) IndusInd Bank
(b) Lakshmi Vilas Bank
(c) RBL Bank
(d) Karnataka Bank
(e) Karur Vysya Bank

S5. Ans.(a)
Sol. IndusInd Bank launched its new Sonic Identity, which is essentially a musical logo called 'MOGO', as part of its branding initiatives. The objective for associating to a sonic identity is building the Bank's brand imagery with the strategic use of music and sound for brand experiences and audience connection.

Q6. The Government has announced which Project on the lines of Operation Flood to realise agriculture potential of the country?
(a) Operation Agriculture
(b) Operation Earth
(c) Operation Water
(d) Operation Green
(e) Operation Farmer

S6. Ans.(d)
Sol. On the lines of ‘‘Operation Flood’’ a new Scheme ‘‘Operation Greens’’ was announced with an outlay of Rs 500 Crore to address the challenge of price volatility of perishable commodities like tomato, onion and potato with the satisfaction of both the farmers and consumers.

Q7. The government in budget session has promised an Agrimarket infrastructure fund with a corpus of what amount?
(a) Rs 2,000 crore
(b) Rs 5,000 crore 
(c) Rs 16,000 crore 
(d) Rs 20,000 crore 
(e) Rs 32,000 crore

S7. Ans.(a)
Sol. FM Minister Arun Jaitley also announced an Agri-Market Infrastructure Fund that would have a corpus of Rs 2,000 crore to develop and upgrade infrastructure in 22,000 Grameen Agricultural Markets and 585 state-run Agricultural Produce Marketing Committee markets, where farmers are obliged to sell their produce.

Q8. FM has announced setting up a FAIDF for fisheries sector and an AHIDF for financing infrastructure requirement of animal husbandry sector with a total corpus of ______________ for the two new funds.
(a) Rs 30,000 crore 
(b) Rs 20,000 crore 
(c) Rs 10,000 crore
(d) Rs 40,000 crore 
(e) Rs 60,000 crore

S8. Ans.(c)
Sol. After the establishment of Dairy Infrastructure Fund, FM Arun Jaitley has announced setting up a Fisheries and Aqua culture Infrastructure Development Fund (FAIDF) for fisheries sector and an Animal Husbandry Infrastructure Development Fund (AHIDF) for financing infrastructure requirement of animal husbandry sector with a total corpus of  Rs.10,000 crore for the two new funds.

Q9. As announced in the budget session, what is the worth of the Indian Economy?
(a) 3.5 trillion 
(b) 4.5 trillion  
(c) 5.5 trillion 
(d) 1.5 trillion 
(e) 2.5 trillion

S9. Ans.(e)
Sol. Indian economy is a $2.5 trillion economy. India is expected to become the fifth largest economy very soon. Indian society, polity and economy have shown remarkable resilience in adjusting to structural reforms.

Q10. NAM is envisaged as a pan-India electronic trading portal which seeks to network the existing APMC and other market yards to create a unified national market for agricultural commodities. NAM stands for-
(a) National Agriculture Management
(b) National Agriculture Market
(c) National Agriculture Money
(d) National Agency Market
(e) Non Agriculture Market

S10. Ans.(b)
Sol. National Agriculture Market (NAM) is envisaged as a pan-India electronic trading portal which seeks to network the existing APMC and other market yards to create a unified national market for agricultural commodities. NAM is a “virtual” market but it has a physical market (mandi) at the back end.

Q11. By how much Industries Growth has been seen at (in Economic Survey 2017-18)- 
(a) 4.4 per cent
(b) 4.1 per cent
(c) 4.6 per cent
(d) 4.9 per cent
(e) 4.3 per cent

S11. Ans.(a)
Sol. 2017-18 industry growth seen at 4.4 per cent in Economic Survey 2017-18.

Q12. What is the meaning of GVA?
(a) Gross Van Added
(b) Gross Value Added
(c) General Value Added
(d) Gross Value Agency
(e) Gross Value Adjust

S12. Ans.(b)
Sol. GVA stands for Gross Value Added.

Q13.  It was pointed out that the ROSL has increased exports of readymade garments (man-made fibers) by about 16 per cent but not of others. What is the meaning of "L" in ROSL?
(a) Least
(b) Level
(c) Levies
(d) Labour
(e) Lease

S13. Ans.(c)
Sol. It was pointed out that the Rebate of State Levies (ROSL) has increased exports of readymade garments (man-made fibers) by about 16 per cent but not of others.

Q14. According to Economic Survey 2017-18, which states has the greatest number of GST registrants?
(a) Maharashtra, Madhya Pradesh, Tamil Nadu and Gujarat
(b) Telangana, Uttar Pradesh, Tamil Nadu and Gujarat
(c) Maharashtra, Uttar Pradesh, West Bengal and Gujarat
(d) Maharashtra, Uttar Pradesh, Tamil Nadu and Gujarat
(e) Maharashtra, Uttar Pradesh, Tamil Nadu and Haryana

S14. Ans.(d)
Sol. Maharashtra, UP, Tamil Nadu and Gujarat are the states with the greatest number of GST registrants. UP and West Bengal have been large increases in the number of tax registrants compared to the old tax regime, it points out. The findings suggest that the distribution of the GST base among the states is closely linked to the size of their economies, allaying fears of major producing States that the shift to the new system would undermine their tax collections.

Q15.  India‘s internal trade in goods and services (excludes non-GST goods and services) is actually even higher and is about ____________ of GDP.
(a) 20%
(b) 30%
(c) 40%
(d) 50%
(e) 60%

S15. Ans.(e)
Sol. New data on the international exports of states suggests a strong correlation between export performance and states' standard of living. Last year survey had estimated that India's inter-state trade in goods was between 30 and 50 per cent of GDP. But the GST data suggests that India's internal trade in goods and services (excludes non-GST goods and services) is actually even higher and is about 60 per cent of GDP.


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