Solutions of Banking Quiz for SBI Clerk Exam 2018 | 5th March 2018

Dear Aspirants,

Banking Quiz for Canara Bank PO Exam 2018

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

Q1. Where is the Head Office of AU Small Finance Bank?
(a) Muzaffarpur
(b) Fatehpur
(c) Kanpur
(d) Nagpur
(e) Jaipur

S1. Ans.(e)
Sol. Jaipur, Rajasthan is the Headoffice of AU Small Finance Bank.

Q2. Name the country, which was the largest source of foreign investment in India (21.8 per cent share at market value), followed by the US and the UK, according to a census by the Reserve Bank of India.
(a) UK
(b) Japan
(c) US
(d) Mauritius
(e) Singapore

S2. Ans.(d)
Sol. Mauritius was the largest source of foreign investment in India (21.8 per cent share at market value), followed by the US and the UK, according to a census by the Reserve Bank of India. Singapore and Japan were the next two sources of foreign direct investment (FDI), reported the Census on Foreign Liabilities and Assets of Indian Direct Investment Companies 2016-17, released by RBI.

Q3. Japan has been found to have the best structure of production in the Geneva-based World Economic Forum or WEF's first ‘Readiness for the future of production report’ and is followed by South Korea, Germany, Switzerland, China, Czech Republic, the US, Sweden, Austria and Ireland in the top 10. WEF was established in-
(a) 1982
(b) 1945
(c) 1971
(d) 1944
(e) 1956

S3. Ans.(c)
Sol. WEF was established in 1971.

Q4. In the financial year 2016-17, total FDI of US $ 60.08 billion has been received, which is an all-time high. The Cabinet chaired by ______________ has approved amendments in FDI Policy and further liberalized few of the policies of FDI. 
(a) Arvind Subramanian
(b) Urjit Patel
(c) Hasmukh Adhia
(d) Arun Jaitley
(e) Narendra Modi

S4. Ans.(e)
Sol. In the financial year 2016-17, total FDI of US $ 60.08 billion has been received, which is an all-time high. The Cabinet chaired by PM Narendra Modi has approved amendments in FDI Policy and further liberalized few of the policies of FDI.
Key Highlights-
100% FDI under automatic route for Single Brand Retail Trading.
100% FDI under automatic route in Construction Development.
Foreign airlines allowed to invest up to 49% under approval route in Air India.
FIIs/FPIs allowed to invest in Power Exchanges through primary market.
Definition of ‘medical devices’ amended in the FDI Policy.

Q5. Paytm has set up a new entity called Paytm Money Ltd that will offer investment and wealth management products and will invest close to ____________ upfront in the new entity.
(a) $20 million
(b) $10 million
(c) $30 million 
(d) $05 million
(e) $1 million

S5. Ans.(b)
Sol. Paytm has set up a new entity called Paytm Money Ltd that will offer investment and wealth management products and will invest close to $10 million upfront in the new entity. Paytm Money is the fourth product from One97’s stable after Paytm Mall, Paytm Payments Bank and Paytm wallet. It will be available as a separate mobile application to users.

Q6. In the field of banking, what does ADF stand for?
(a) Additional Dearness Allowance
(b) Automated Data Flow
(c) Additional Deposit Allowance
(d) Automated Deposit Allowance
(e) None of the given options is true

S6. Ans.(b)
Sol. The Automated Data Flow (ADF) is a unique initiation by RBI aimed at the purpose of meeting the needs for accurate and consistent flow of data. Automated Data Flow ensures that the data submitted from the banks to Reserve Bank of India is correct and consistent without any kind of manual intervention.

Q7. Which of the following is governed by the provisions of Section 42 (1) of the Reserve Bank of India Act, 1934?
(a) Bank rate
(b) Reverse Repo Rate
(c) SLR
(d) CRR
(e) MSF

S7. Ans.(d)
Sol. CRR is governed by the provisions of Section 42 (1) of the Reserve Bank of India Act, 1934.

Q8. National Sample Survey Organisation (NSSO) is an organization under the-
(a) Ministry of Finance
(b) Ministry of Rural Development
(c) Ministry of Commerce and Industry
(d) Ministry of Electronics and Information Technology
(e) Ministry of Statistics and Programme Implementation

S8. Ans.(e)
Sol. The National Sample Survey Organisation (NSSO), now known as National Sample Survey Office, is an organization under the Ministry of Statistics and Programme Implementation of the Government of India. It is the largest organisation in India conducting regular socio-economic surveys.

Q9. BCSBI was registered as a society under the _____________ in February 2006.
(a) Companies Act, 1956
(b) Societies Registration Act, 1860
(c) Banking Regulation Act, 1949
(d) Reserve Bank of India Act, 1934
(e) None of the given options is true

S9. Ans.(b)
Sol. The Banking Codes and Standards Board of India was registered as a society under the Societies Registration Act, 1860 in February 2006. It functions as an independent and autonomous body. Membership of BCSBI is voluntary and open to scheduled banks.

Q10. The Financial Stability Board (FSB) is an international body for the global financial system, has placed India in the league of countries that are 'compliant or largely compliant’ on the implementation of priority area reforms. In which among the following year FSB was established?
(a) 2001
(b) 2009
(c) 2003
(d) 2015
(e) 1997

S10. Ans.(b)
Sol. The Financial Stability Board (FSB), an international body for the global financial system, has placed India in the league of countries that are 'compliant or largely compliant’ on the implementation of priority area reforms. Ahead of the G20 Summit in Germany to be attended by Prime Minister Narendra Modi, among other world leaders, the FSB has submitted its status report on progress in financial regulatory reforms in various jurisdictions, including India. The FSB was established in April 2009 as the successor to the Financial Stability Forum (FSF).

Q11. Part of company’s earning or profit which is paid out to share holders is known as _______
(a) Premium
(b) Dividend
(c) Bonus
(d) Sum Assured
(e) Return

S11. Ans.(b)
Sol. A dividend is a payment made by a corporation to its shareholders, usually as a distribution of profits. When a corporation earns a profit or surplus, it can re-invest it in the business (called retained earnings) and pay a fraction of the profit as a dividend to shareholders.

Q12. Which of the following economic concepts is categorised on the basis of Current Account or Capital Account or both?
(a) Balance of Payments
(b) Value of the food grain stock of a country
(c) Gross National Product
(d) Gross National Income(GNI)
(e) Total collection of Direct Taxes in a year

S12. Ans.(a)
Sol. A Balance of payments statements is a summary of a nation’s total economic transactions undertaken on international account. It is usually composed of two sections:-
1. Current Account
2. Capital Account

Q13. When there is a difference between all receipts and expenditure of the Government of India both capital and revenue it is called-
(a) Revenue Deficit
(b) Budgetary Deficit
(c) Zero Budgeting
(d) Trade Gap
(e) Balance of Payment Problem

S13. Ans.(b)
Sol. Budgetary deficit is the difference between all receipts and expenses in both revenue and capital account of the government.If revenue expenses of the government exceed revenue receipts, it results in revenue account deficit. Similarly, if the capital disbursements of the government exceed capital receipts, it leads to capital account deficit. Budgetary deficit is usually expressed as a percentage of GDP.

Q14. Sukanya Samriddhi Account can be opened up to age of ________ years only from the date of birth.
(a) Five years
(b) Four years
(c) Six years
(d) Eight years
(e) Ten years

S14. Ans.(e)
Sol. Sukanya Samriddhi Account can be opened up to age of 10 years only from the date of birth.

Q15. NSDP links are intended to provide quick access to a single comprehensive source of economic and financial data consistent with the data categories and components described in the subscriber's metadata. NSDP stands for-
(a) National Summary District Page
(b) National Summary Development Page
(c) National Summary Department Page
(d) National Summary Division Page
(e) National Summary Data Page

S15. Ans.(e)
Sol. The National Summary Data Page (NSDP) links are intended to provide quick access to a single comprehensive source of economic and financial data consistent with the data categories and components described in the subscriber's metadata. Additionally, many of the NSDPs include further links to additional data or information on other national Internet data sites.