22 Oct 2017

Banking Awareness Quiz

Q1. Which among the following countries has contributed $100,000 to a UN fund to help developing countries actively participate in the discussion of tax issues, becoming the first country to make the contribution?
(a) India
(b) UK
(c) Austria
(d) Canada
(e) China

Q2. Which bank has started insolvency resolution process against Lanco Infratech Ltd. following a directive from the Reserve Bank of India (RBI), While this is the first resolution process initiated by the lenders against 12 large borrowers identified by the RBI recently.
(a) State Bank of India
(b) IDBI Bank
(c) Punjab National Bank
(d) Bank of India
(e) ICICI Bank

Q3. Stepping up its fight against tax evasion, the Centre has made it mandatory to quote the Aadhaar number for opening bank accounts and for transactions exceeding-

(a) Rs.10,000
(b) Rs.80,000
(c) Rs.50,000
(d) Rs.1,00,000
(e) Rs.1,50,000

Q4. The Reserve Bank of India has initiated PCA on Bank of Maharashtra placing a restriction on the banking activities. What is the meaning of “A” in PCA?
(a) Against
(b) Assets
(c) Association
(d) Action
(e) Agency

Q5. Which among the following international organisation has cleared a USD 250-million loan for making Indian youth more employable through reskilling, in a move that is seen to aid the Skill India Mission?
(a) Asian Development Bank (ADB)
(b) World Trade Organization (WTO)
(c) Asian Infrastructure Investment Bank (AIIB)
(d) International Monetary Fund (IMF)
(e) World Bank (WB)

Q6. The RBI has cut the repo rate by 25 bps in third bi-monthly monetary policy 2017. What is present Repo Rate?

(a) 5.75 per cent
(b) 6.00 per cent
(c) 6.25 per cent
(d) 6.50 per cent
(e) 5.50 per cent

Q7. Which among the following public sector Banks has offered BBPS, introduced by the National Payments Corporation of India for its customers?

(a) Bank of Baroda
(b) State Bank of India
(c) Central Bank of India
(d) Punjab National Bank
(e) Indian Overseas Bank

Q8. Which Bank has launched its first ‘Digital Banking Branch’ named ‘CANDI’ in Bengaluru?
(a) Union Bank
(b) ICICI Bank
(c) Canara Bank
(d) Indian Bank
(e) Axis Bank

Q9. The decline in rate of inflation and high real interest rates have prompted State Bank of India to cut the savings bank deposits rate from 4 per cent to ___________ on deposits below Rs. 1 crore. 
(a) 3.50 per cent
(b) 2.75 per cent
(c) 3.75 per cent
(d) 3.30 per cent
(e) 3.00 per cent

Q10. The RBI has imposed a penalty of Rs. 3 crore on state-owned Union Bank of India for “non-compliance” with the directions on KYC norms. KYC stands for-?
(a) Know Your Commerce
(b) Know Your Conclusion
(c) Kite Your Customer
(d) Know Your Customer
(e) Know Your Consumer

Q11. In which of the following types of banking, there is a direct execution of transaction between a bank and its consumers?

(a) Retail Banking
(b) Universal Banking
(c) Virtual Banking
(d) Unit Banking
(e) None of the given options is true

Q12. Maximum loan amount to individuals against physical security shares can be _____

(a) 20 lakh
(b) 15 lakh
(c) 25 lakh
(d) 50 lakh
(e) 10 lakh

Q13. The process by which the central bank of a country controls the supply of money in the economy by exercising its control over interest rates in order to maintain price stability and achieve high economic growth is known as:
(a) Economic Policy
(b) Monetary Policy
(c) Fiscal Policy
(d) Credit Policy
(e) Budgetary Policy

Q14. Loans granted by a bank to an exporter popularly known as ‘Export credit’ is guaranteed, in case of default, by which of the following

(a) EXIM Bank
(b) Ministry of International Trade, GOA
(c) ECGC
(e) None of the given options is true

Q15. Who amongst the following is the regulator in the financial system of the country?
(a) OIC
(b) SEBI
(d) TRAN
(e) CERC
Answers with Solutions

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