SBI Clerk Main Banking Awareness Quiz: 22nd July

Dear Aspirants,
SBI Clerk Main Banking Awareness Quiz: 22nd July

SBI PO/Clerk Mains Banking Awareness Quiz

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. The mission of the OECD is to promote policies that will improve the economic and social well-being of people around the world. What is the full form of OECD?
Organisation for Economic Co-operation and Dividend
Organisation for Economic Chamber and Development
Organisation for Economic Council and Development
Organisation for Economic Co-operation and Department
Organisation for Economic Co-operation and Development
Solution:
The mission of the Organisation for Economic Co-operation and Development (OECD) is to promote policies that will improve the economic and social well-being of people around the world.

Q2. For the first time, which organisation has decided to use a new tool to enhance liquidity in the system by bringing $5 billion from the banks in a swap deal that is capable of injecting around Rs. 35,000 crores into the system?
Securities and Exchange Board of India
Reserve Bank of India
National Bank for Agriculture and Rural Development
Insurance Regulatory and Development Authority of India
Telecom Regulatory Authority of India
Solution:
The Reserve Bank of India (RBI) has decided to use a new tool for the first time to enhance liquidity in the system using which it will buy $5 billion from the banks in a swap deal that is capable of injecting around Rs. 35,000 crores into the system.
Q3. Fitch has lowered India's growth forecast to _____________ percent for the current fiscal from 6.8 per cent projected earlier, as manufacturing and agriculture sectors showed signs of slowing down over the past year.
6.40%
6.50%
6.70%
6.60%
6.20%
Solution:
Fitch has lowered India's growth forecast to 6.6 per cent for the current fiscal from 6.8 per cent projected earlier, as manufacturing and agriculture sectors showed signs of slowing down over the past year.
Q4. The RBI in consultation with the government of India has set the limits for WMA for the first half of the financial year 2019-20 (April 2019 to September 2019) at Rs 75000 crore. What is the full form of WMA?
Ways and Means Advances
Ways and Means Account
Ways and Means Amount
Ways and Means Assets
Ways and Means Annual
Solution:
The Reserve Bank of India (RBI) in consultation with the government of India has set the limits for Ways and Means Advances (WMA) for the first half of the financial year 2019-20 (April 2019 to September 2019) at Rs 75000 crore. The Reserve Bank may trigger fresh floatation of market loans when the Government of India utilizes 75% of the WMA limit.

Q5. As per the World Bank, India’s GDP growth is expected to accelerate moderately to _____________ in Fiscal Year 2019-2020, driven by continued investment strengthening, particularly private-improved export performance and resilient consumption.

7.7%
7.9%
7.5%
7.8%
7.6%
Solution:
As per the World Bank, India’s GDP growth is expected to accelerate moderately to 7.5% in Fiscal Year 2019-2020, driven by continued investment strengthening, particularly private-improved export performance and resilient consumption.

Q6. The BFS was constituted in ___________________ as a committee of the Central Board of Directors of the Reserve Bank of India.
November 1992
November 1999
November 1996
November 1993
November 1994
Solution:
The Reserve Bank of India performs the supervisory function under the guidance of the Board for Financial Supervision (BFS). The Board was constituted in November 1994 as a committee of the Central Board of Directors of the Reserve Bank of India under the Reserve Bank of India (Board for Financial Supervision) Regulations, 1994.
Q7. What is the main functions of RBI?
Monetary Authority
Regulator and supervisor of the financial system
Manager of Foreign Exchange
All of the above
None of the given options is true
Solution:
Main Functions of RBI:-
1. Monetary Authority
2. Regulator and supervisor of the financial system
3. Manager of Foreign Exchange
4. Issuer of currency
5. Developmental role

Q8. The regional offices of Reserve Bank of India is-
26
32
27
30
24
Solution:
RBI has 27 regional offices, most of them in state capitals and 04 Sub-offices
Q9. Where is the headquarters of SIDBI?
Bengaluru
Lucknow
Mumbai
New Delhi
Kolkata
Solution:
Small industrial Development Bank of India (SIDBI) is a development financial institution in India, headquartered at Lucknow and having its offices all over the country.
Q10. Which of the following Bank/organisation is not the subsidiaries of Reserve Bank of India?
National Housing Bank (NHB)
Deposit Insurance and Credit Guarantee Corporation of India (DICGC)
Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL)
Reserve Bank Information Technology Private Limited (ReBIT)
None of the given options is true
Solution:
Subsidiaries of RBI:-
Fully owned: Deposit Insurance and Credit Guarantee Corporation of India (DICGC), Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL), Reserve Bank Information Technology Private Limited (ReBIT). National Housing Bank, a Government of India owned entity, was set up on 9 July 1988 under the National Housing Bank Act, 1987.
Q11. PMGKDS, 2016 is a scheme notified by the Government of India on December 16, 2016 which is applicable to every declarant under the Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana, 2016. What is the meaning of "D" in PMGKDS?
Division
Disputes
Department
Deposit
Distance
Solution:
Pradhan Mantri Garib Kalyan Deposit Scheme (PMGKDS), 2016 is a scheme notified by the Government of India on December 16, 2016 which is applicable to every declarant under the Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana, 2016.

Q12. _________________ is the process of stopping the flow of the physical cheque issued by a drawer at some point by the presenting bank en-route to the paying bank branch.
Truncation
Demand
Flow
Transit
None of the given options is true
Solution:
Truncation is the process of stopping the flow of the physical cheque issued by a drawer at some point by the presenting bank en-route to the paying bank branch. In its place an electronic image of the cheque is transmitted to the paying branch through the clearing house, along with relevant information like data on the MICR band, date of presentation, presenting bank, etc. Cheque truncation thus obviates the need to move the physical instruments across bank branches, other than in exceptional circumstances for clearing purposes. This effectively eliminates the associated cost of movement of the physical cheques, reduces the time required for their collection and brings elegance to the entire activity of cheque processing.
Q13. Which among the following organisation has issued, the policy guidelines for the BBPS system on November 28, 2014?
SEBI
NABARD
RBI
Finance Ministry
NPCI
Solution:
Bharat Bill Payment System (BBPS) is an integrated bill payment system which will offer interoperable bill payment service to customers online as well as through a network of agents on the ground. The system will provide multiple payment modes and instant confirmation of payment. The policy guidelines for the BBPS system were issued by the Reserve Bank of India on November 28th, 2014.

Q14. BBPS is an integrated bill payment system which is offer interoperable bill payment service to customers online as well as through a network of agents on the ground. BBPS stands for- 
Bharat Balance Payment System
Bank Bill Payment System
Bharat Bill Product System
Bharat Bill Payment Service
Bharat Bill Payment System

Solution:
The full form of BBPS is Bharat Bill Payment System.

Q15. The RTGS system is primarily meant for large value transactions. The minimum amount to be remitted through RTGS is-

Rs 10 lakh
Rs 2 lakh
Rs 5 lakh
Rs 1 lakh
Rs 20 lakh
Solution:
The Reserve Bank of India has increased the Real Time Gross Settlement (RTGS) time window for customer transactions (initial cut-off) from 4.30 pm to 6 pm. The RTGS system is primarily meant for large-value transactions. The minimum amount to be remitted through RTGS is Rs.2 lakh with no upper or maximum ceiling.

               



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