Banking Awareness Questions for IBPS RRB PO and Clerk

Dear Aspirants,

Banking Awareness for IBPS RRB PO and Clerk Exam 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. According to Finance Minister Arun Jaitley, Indian economy grew by ____________ in the first quarter (April-June) of the current fiscal, the highest in over two years.

7.2%

7.8%

8.6%

8.2%

8.4%

Solution:

Indian economy grew by 8.2% in the first quarter (April-June) of the current fiscal, the highest in over two years. This announcement was made by Finance Minister, Arun Jaitley. The manufacturing sector grew by 13.5% which signals very good turnaround in the sector.

Q2. The government of India has doubled the monetary limit to ___________ lakh rupees for filing loan recovery application in the DRT by banks and financial institutions.

20 lakh rupees

40 lakh rupees

50 lakh rupees

10 lakh rupees

30 lakh rupees

Solution:

The government of India has doubled the monetary limit to 20 lakh rupees for filing loan recovery application in the Debt Recovery Tribunals (DRT) by banks and financial institutions.

Q3. India’s CAD widened to a four-quarter-high at 2.4% of gross domestic product (GDP) in April-June period. CAD stands for-

Current Account Decrease

Current Amount Deficit

Current Account Deficit

Common Account Deficit

Current Account Decline

Solution:

India’s Current Account Deficit (CAD) widened to a four-quarter-high at 2.4% of gross domestic product (GDP) in April-June period on the back of rising crude oil prices, from 1.9% of GDP in the January-March quarter of 2017-18, according to data released by the Reserve Bank of India (RBI).

Q4. Name the Bank, which has announced that the Department of Financial Services report has rated it as number one state-owned bank in terms of digital transactions.

ICICI Bank

Punjab National Bank

Axis Bank

State Bank of India

Bank of Baroda

Solution:

Punjab National Bank (PNB) has announced that the Department of Financial Services report has rated it as number one state-owned bank in terms of digital transactions. The Nirav Modi scam-hit bank is also rated as the sixth overall amongst all banks in India for digital performance.

Q5. DBS Bank has been named the world's best bank by Global Finance magazine, in a reflection of its ability to invest in digital innovation while still maintaining stable operations for its customers. DBS Bank based in-

Australia

Japan

France

Germany

Singapore

Solution:

DBS Bank has been named the world's best bank by Global Finance magazine, in a reflection of its ability to invest in digital innovation while still maintaining stable operations for its customers. DBS Bank is a multinational banking and financial services corporation headquartered in Marina Bay Financial Centre Tower 3 Marina Bay, Singapore.

Q6. Prime Minister Narendra Modi launched a payments bank of the Department of Posts that will take banking to the doorstep of every citizen through an unmatched network of post offices and almost 3 lakh postmen and ‘Grameen Dak Sewaks’. Who is the Managing Director & CEO of IPPB?

Suresh Kumar Sethi

Anant Narayan Nanda

Pramod Kumar Das

Anshuman Sharma

Sushama Nath

Solution:

Prime Minister Narendra Modi launched a payments bank of the Department of Posts that will take banking to the doorstep of every citizen through an unmatched network of post offices and almost 3 lakh postmen and ‘Grameen Dak Sewaks’. Suresh Kumar Sethi is the Managing Director & CEO of IPPB.

Q7. According to the data released by Central Statistics Office (CSO), IIP has grew at 6.6% in July on the back of good performance by the manufacturing sector and higher offtake of capital goods and consumer durables. What is the full form of IIP?

Index of Industrial Power

Index of Industrial Production

Index of Industrial Purchasing

Index of Industrial Particular

Index of Industrial Promotion

Solution:

According to the data released by Central Statistics Office (CSO), Index of Industrial production (IIP) grew at 6.6% in July on the back of good performance by the manufacturing sector and higher offtake of capital goods and consumer durables.

Q8. India’s overall exports (Merchandise and Services combined) in April-August 2018-19 (as per the RBI Press Release) are estimated to be USD ____________ Billion, exhibiting a positive growth of 20.70% over the same period last year.

USD 102.58 Billion

USD 610.47 Billion

USD 221.83 Billion

USD 504.25 Billion

USD 817.34 Billion

Solution:

India’s overall exports (Merchandise and Services combined) in April-August 2018-19 (as per the RBI Press Release) are estimated to be USD 221.83 Billion, exhibiting a positive growth of 20.70% over the same period last year. Overall imports in April-August 2018-19 are estimated to be USD 269.54 Billion, exhibiting a positive growth of 21.01% over the same period last year.

Q9. Prime Minister Narendra Modi launched the India Post Payments Bank (IPPB) at Talkatora Stadium in New Delhi. IPPB will offer __________ interest rate on savings accounts.

5.25%

4.50%

6.25%

4.00%

5.75%

Solution:

Prime Minister Narendra Modi launched the India Post Payments Bank (IPPB) at Talkatora Stadium in New Delhi. IPPB is the largest payments bank in the country by network size. IPPB will offer 4% interest rate on savings accounts.

Q10. _____________________ is a measurement of a country's trade where the value of the goods and services it imports exceeds the value of the goods and services it exports.

Balance Sheet

Index of Industrial Production

Foreign direct investment

Balance of Payments

Current Account Deficit

Solution:

The Current Account Deficit is a measurement of a country's trade where the value of the goods and services it imports exceeds the value of the goods and services it exports.

Q11. National Bank for Agriculture and Rural Development (NABARD) has sanctioned an amount of Rs 335 crore under the Rural Infrastructure Development Fund (RIDF) to-

Rajasthan

West Bengal

Madhya Pradesh

Tamil Nadu

Assam

Solution:

National Bank for Agriculture and Rural Development (NABARD) has sanctioned an amount of Rs 335 crore under the Rural Infrastructure Development Fund (RIDF) to West Bengal. The fund, alloted in August, would be used for 158 minor irrigation projects and 23 flood protection projects.

Q12. The CBDT announced that no withholding tax will apply on interest payments made by an Indian company or a business trust to a non-resident in respect of offshore rupee-denominated bonds issued between September 17, 2018 and March 31, 2019. Who is the chairman of CBDT?

Prem Kumar Sinha

Subhash Chandra Khuntia

TS Vijayan

Sushil Chandra

Ram Sevak Sharma

Solution:

The Central Board of Direct Taxes (CBDT) announced that no withholding tax will apply on interest payments made by an Indian company or a business trust to a non-resident in respect of offshore rupee-denominated bonds issued between September 17, 2018 and March 31, 2019. Sushil Chandra is the chairman of Central Board of Direct Taxes.

Q13. The Reserve Bank of India (RBI) asked all scheduled commercial banks with more than ___________ branches to appoint an Internal Ombudsman (IO).

Solution:

The Reserve Bank of India (RBI) asked all scheduled commercial banks with more than 10 branches to appoint an Internal Ombudsman (IO). The apex bank has, however, excluded regional rural banks (RRBs) from appointing IOs.

Q14. NCRB is an Indian government agency responsible for collecting and analysing crime data as defined by the Indian Penal Code. NCRB stands for-

National Crime Reports Bureau

National Criminal Records Bureau

National Crime Records Bureau

National Crime Records Branch

National Crime Records Banking

Solution:

The National Crime Records Bureau, abbreviated to NCRB, is an Indian government agency responsible for collecting and analysing crime data as defined by the Indian Penal Code. NCRB is headquartered in New Delhi and is part of the Ministry of Home Affairs, Government of India.

Q15. Who has appointed as Managing Director of State Bank of India?

Anshula Kant

Tajinder Mukherjee

Prashant Kumar

Vibha Padalkar

Om Prakash Mishra

Solution:

State Bank of India (SBI) has appointed Anshula Kant as Managing Director of the Bank. She has been appointed to the post for 2 years.

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