Banking Quiz for IBPS Clerk Mains and IPPB Officers Exam

Dear Aspirants,

Banking Quiz for IBPS Clerk Mains and IPPB Officers Exam 2017

Just a few days are left for IPPB Manager/Officers and IBPS Clerk Mains. It is time to pace up your preparation of Banking Awareness for IPPB Manager/Officers and IBPS Clerk Mains. These questions related to Banking Awareness will also help you in preparing for other upcoming banking recruitment examination.

Q1. OBOPAY has announced that the company has secured a license for PPI from RBI to operate a semi-closed loop wallet in the country. What is the meaning of "I" in PPI?
(a) Initial
(b) International
(c) Installment
(d) Instrument
(e) Investment

S1. Ans.(d)
Sol. OBOPAY has announced that the company has secured a licence for Prepaid Payment Instrument (PPI) from the Reserve Bank of India (RBI) to operate a semi-closed loop wallet in the country.

Q2. Sectoral regulator IRDAI has issued regulations for insurance firms to carry out offshore business from Gujarat-based GIFT International Financial Services Centre (IFSC). Where is the headoffice of IRDAI?
(a) New Delhi
(b) Hyderabad
(c) Mumbai
(d) Chennai
(e) Kolkata

S2. Ans.(b)
Sol. Sectoral regulator IRDAI has issued regulations for insurance firms to carry out offshore business from Gujarat-based GIFT International Financial Services Centre (IFSC). With this, Insurance operations will get a major boost. Hyderabad is the headoffice of IRDAI.

Q3. The Indian economy will expand by __________ in 2017-18, according to the new data of the government’s Central Statistics Office (CSO). 
(a) 6.1%
(b) 6.3%
(c) 6.7%
(d) 6.9%
(e) 6.5%

S3. Ans.(e)
Sol. The Indian economy will expand by 6.5% in 2017-18, according to the new data of the government’s Central Statistics Office (CSO). It had released its first advance estimate for India’s GDP growth rate in the current financial year.

Q4. As per the HSBC report, India's growth rate is expected to accelerate at around 6.5 percent in 2017-18 and is likely to improve further to 7.6 percent by 2019-20. Where is the headoffice of HSBC?
(a) Hong Kong
(b) Nairobi
(c) London
(d) Vienna
(e) New York

S4. Ans.(c)
Sol. As per the HSBC report, India's growth rate is expected to accelerate at around 6.5 percent in 2017-18 and is likely to improve further to 7.6 percent by 2019-20. HSBC Headquarters in London, United Kingdom.

Q5. Markets regulator _______ stated that cross-holding in credit rating agencies (CRAs) will be capped at 10 percent and also decided to raise the minimum networth requirement to Rs 25 crore from the current Rs 5 crore.
(a) SEBI
(b) IRDAI
(c) RBI
(d) NABARD
(e) SIDBI

S5. Ans.(a)
Sol. Markets regulator SEBI stated that cross-holding in credit rating agencies (CRAs) will be capped at  10 percent and also decided to raise the minimum networth requirement to Rs 25 crore from the current Rs 5 crore.

Q6. Which among the following country is set to leapfrog Britain and France in 2018 to become the world’s fifth-largest economy in dollar terms, according to the report by Centre for Economics and Business Research (CEBR) consultancy’s 2018 World Economic League Table?
(a) Brazil
(b) Japan
(c) Germany
(d) China
(e) India

S6. Ans.(e)
Sol. India is set to leapfrog Britain and France in 2018 to become the world’s fifth-largest economy in dollar terms. The Centre for Economics and Business Research (CEBR) consultancy’s 2018 World Economic League Table painted an upbeat view of the global economy, boosted by cheap energy and technology prices. India is currently in seventh place in the top world economies with $2 trillion.

Q7. Bad loans of Public sector banks (PSBs) stood at _______________ by the end of second quarter this fiscal (2017-18), a bulk of which came from corporate defaulters, private sector banks' NPAs were considerably low.
(a) Rs 17.24 lakh crore
(b) Rs 14.12 lakh crore
(c) Rs 10.48 lakh crore
(d) Rs 7.34 lakh crore
(e) Rs 32.60 lakh crore

S7. Ans.(d)
Sol. Bad loans of Public sector banks (PSBs) stood at Rs 7.34 lakh crore by the end of second quarter this fiscal, a bulk of which came from corporate defaulters, private sector banks' NPAs were considerably low. Moreover, for the recovery of the bad loans, the network of Debt Recovery Tribunals have been expanded to 39 at present, as compared to 33 in 2016-17, according to data furnished by the RBI and the government.

Q8. The Capital market regulator SEBI has raised the investment limit for FPI in central government securities to over 1.91 lakh crore from January 2018. FPI stands for-
(a) Foreign People Investors 
(b) Foreign Portfolio Investment 
(c) Foreign Portfolio Investors
(d) Foreign Personal Investors 
(e) Fund Portfolio Investors

S8. Ans.(c)
Sol. The Capital market regulator Securities and Exchange Board of India (SEBI) has raised the investment limit for foreign portfolio investors (FPI) in central government securities to over 1.91 lakh crore from January 2018.

Q9. SBI Card, the credit card issuer and Bharat Petroleum, the leading petroleum company in India announced the launch of the BPCL SBI Card – the most rewarding fuel co-branded credit card in the country. Who is the present Chairman of SBI?
(a) Usha Ananthasubramanian
(b) Rajnish Kumar
(c) Arundhati Bhattacharya
(d) Rakesh Sethi
(e) Ajay Tyagi

S9. Ans.(b)
Sol. SBI Card, the credit card issuer and Bharat Petroleum, the leading petroleum company in India announced the launch of the BPCL SBI Card – the most rewarding fuel co-branded credit card in the country. Rajnish Kumar- Chairman of SBI.

Q10. Which Bank has approved raising Rs 8,000 crore through various sources, including masala bonds, to meet Basel III capital norms recently?
(a) State Bank of India
(b) ICICI Bank
(c) Punjab National Bank
(d) HDFC Bank
(e) Bank of Baroda

S10. Ans.(a)
Sol. According to the country's largest lender, SBI, its board has approved raising Rs 8,000 crore through various sources, including masala bonds, to meet Basel III capital norms.

Q11. Name the Bank, which has entered into MoU with POORTI Agri Services Pvt. Ltd to enable the farmers to purchase agricultural inputs such as fertilizers, pesticides, seeds etc. provided by POORTI. 
(a) State Bank of India
(b) Bank of Baroda
(c) Punjab National Bank
(d) HDFC Bank
(e) ICICI Bank

S11. Ans.(b)
Sol. Bank of Baroda has entered into MoU with POORTI Agri Services Pvt. Ltd to enable the farmers to purchase agricultural inputs such as fertilizers, pesticides, seeds etc. provided by POORTI. This is a Platform for Online Ordering & Rural Transformation of India known as “POORTI”.

Q12. US buyout giant KKR & Co has become the first foreign investor to fully own an ARC in India as it received approval from the Reserve Bank of India. ARC stands for-
(a) Agency Reconstruction Company 
(b) Asset Reconstruction Core 
(c) Asset Re-insurance Company 
(d) Applied Reconstruction Company 
(e) Asset Reconstruction Company

S12. Ans.(e)
Sol. US buyout giant KKR & Co has become the first foreign investor to fully own an Asset Reconstruction Company (ARC) in India as it received approval from the Reserve Bank of India.

Q13. Public sector IDBI Bank has received the capital infusion of _____________ from the government of India.
(a) Rs 5,262 crore 
(b) Rs. 2,257 crore 
(c) Rs 2,729 crore 
(d) Rs 3,213 crore 
(e) Rs 1,372 crore

S13. Ans.(c)
Sol. Public sector IDBI Bank has received the capital infusion of Rs 2,729 crore from the government of India. The government had in October 2017 unveiled a Rs 2.11 lakh crore two-year roadmap for strengthening NPA-hit public sector Banks.

Q14. State-run ____________ has received capital infusion of Rs. 2,257 crore from the government recently.
(a) Vijaya Bank
(b) Corporation Bank
(c) Andhra Bank
(d) Bank of India
(e) Dena Bank

S14. Ans.(d)
Sol. State-run Bank of India has received capital infusion of Rs. 2,257 crore from the government. “The bank has received infusion of Rs. 2,257 crore from the Government of India, in the form of Common Equity Tier-1 Capital, which is being kept as Share Application money and would be alloted after due procedure/ conditions for allotment".

Q15. Union Cabinet had recently approved a proposal that government will bear the MDR charges on transactions up to Rs 2,000 made through debit cards, BHIM UPI or Aadhaar-enabled payment systems to promote digital transactions. What is the meaning of MDR?
(a) Merchant Discount Rate
(b) Marginal Discount Rate
(c) Merchant Division Rate
(d) Merchant Discount Ratio
(e) Merchant Department Rate

S15. Ans.(a)
Sol. Customers will not have to pay any transaction charges for payments through debit card, BHIM app and other payment made for up to Rs 2,000. Union Cabinet had recently approved a proposal that government will bear the merchant discount rate (MDR) charges on transactions up to Rs 2,000 made through debit cards, BHIM UPI or Aadhaar-enabled payment systems to promote digital transactions.


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