Banking Awareness Questions for SBI PO/Clerk | 21st July 2018

S1. Ans.(d)
Sol. State Bank of India is an Indian multinational, public sector banking and financial services company. It is a government-owned corporation with its headquarters in Mumbai, Maharashtra. SBI was established on 01st July 1955.

Q2. Life Insurance Corporation of India is an Indian state-owned insurance group and investment company headquartered in Mumbai. LIC was established in-
(a) 1956
(b) 1962
(c) 1955
(d) 1949
(e) 1921

S2. Ans.(a)
Sol. Life Insurance Corporation of India is an Indian state-owned insurance group and investment company headquartered in Mumbai. LIC was established in 1956.

Q3. Established in ____________, FICCI is the largest and oldest apex business organisation in India.
(a) 1956
(b) 1949
(c) 1935
(d) 1921
(e) 1927

S3. Ans.(e)
Sol. Established in 1927, FICCI is the largest and oldest apex business organisation in India. Its history is closely interwoven with India’s struggle for independence, its industrialization, and its emergence as one of the most rapidly growing global economies.

Q4. The Insurance Regulatory and Development Authority of India is an autonomous, statutory body tasked with regulating and promoting the insurance and re-insurance industries in India. IRDAI was established in-
(a) 2001
(b) 1999
(c) 2000
(d) 1992
(e) 1990

S4. Ans.(c)
Sol. Following the recommendations of the Malhotra Committee report, in 1999, the Insurance Regulatory and Development Authority (IRDA) was constituted as an autonomous body to regulate and develop the insurance industry. The IRDA was incorporated as a statutory body in April, 2000. The key objectives of the IRDA include promotion of competition so as to enhance customer satisfaction through increased consumer choice and lower premiums, while ensuring the financial security of the insurance market.

Q5. The Telecom Regulatory Authority of India (TRAI) is a statutory body set up by the Government of India under section 3 of the Telecom Regulatory Authority of India Act, 1997. TRAI was founded on-
(a) 20th February 1996
(b) 20th February 1997
(c) 20th February 1995
(d) 20th February 1992
(e) 20th February 1999

S5. Ans.(b)
Sol. The entry of private service providers brought with it the inevitable need for independent regulation. The Telecom Regulatory Authority of India (TRAI) was, thus, established with effect from 20th February 1997 by an Act of Parliament, called the Telecom Regulatory Authority of India Act, 1997, to regulate telecom services, including fixation/revision of tariffs for telecom services which were earlier vested in the Central Government.

Q6. State Bank of India is an Indian multinational, public sector banking and financial services company. It is a government-owned corporation with its headquarters in-
(a) Hyderabad
(b) Mumbai
(c) Chennai
(d) New Delhi
(e) Kolkata

S6. Ans.(b)
Sol. State Bank of India is an Indian multinational, public sector banking and financial services company. It is a government-owned corporation with its headquarters in Mumbai, Maharashtra.

Q7. Life Insurance Corporation of India is an Indian state-owned insurance group and investment company headquartered in-
(a) Hyderabad
(b) Kolkata
(c) Chennai
(d) New Delhi
(e) Mumbai

S7. Ans.(e)
Sol. Life Insurance Corporation of India is an Indian state-owned insurance group and investment company headquartered in Mumbai. It is the largest insurance company in India.

Q8. FICCI is the largest and oldest apex business organisation in India. Where is the Head Office of FICCI?
(a) Hyderabad
(b) Kolkata
(c) Chennai
(d) New Delhi
(e) Mumbai

S8. Ans.(d)
Sol. Established in 1927, FICCI is the largest and oldest apex business organisation in India. Its history is closely interwoven with India’s struggle for independence, its industrialization, and its emergence as one of the most rapidly growing global economies. New Delhi is the Head Office of FICCI.

Q9. The IRDAI is an autonomous, statutory body tasked with regulating and promoting the insurance and re-insurance industries in India. Where is the head office of IRDAI?
(a) Hyderabad
(b) Kolkata
(c) Chennai
(d) New Delhi
(e) Mumbai

S9. Ans.(a)
Sol. The Insurance Regulatory and Development Authority of India is an autonomous, statutory body tasked with regulating and promoting the insurance and re-insurance industries in India. The head office of IRDAI is in Hyderabad.

Q10. Where is the Headquarters of Telecom Regulatory Authority of India (TRAI)?
(a) Hyderabad
(b) Kolkata
(c) New Delhi
(d) Chennai
(e) Mumbai

S10. Ans.(c)
Sol. The Telecom Regulatory Authority of India or TRAI is a statutory body set up by the Government of India under section 3 of the Telecom Regulatory Authority of India Act, 1997. It is the regulator of the telecommunications sector in India.

Q11. NABARD came into existence on 12th July 1982 by transferring the agricultural credit functions of RBI and refinance functions of the then Agricultural Refinance and Development Corporation (ARDC). Name the Chairman of NABARD?
(a) RS Sharma
(b) HK Bhanwala
(c) Uma Shankar
(d) Ajay Tyagi
(e) Sudarshan Sen

S11. Ans.(b)
Sol. Dr. Harsh Kumar Bhanwala is the Chairman of National Bank for Agriculture and Rural Development (NABARD) since December 18, 2013. He is a Post Graduate in Management from IIM Ahmedabad and holds Ph.D. in Management. He has been awarded the honorary doctorate in Science by Tamil Nadu Agricultural University, Coimbatore.

Q12. Who is the Chairperson of SBI?
(a) Kishor Kharat
(b) Anupam Srivastava
(c) Usha Ananthasubramanian
(d) Sunil Mehta
(e) Rajnish Kumar

S12. Ans.(e)
Sol. Rajnish Kumar is an Indian banker. He is Chairman of the State Bank of India He joined SBI as a Probationary officer in 1980.

Q13. Name the person, who is the present Chairman of IRDAI?
(a) HK Bhanwala
(b) Ajay Tyagi
(c) Subhash Chandra Khuntia
(d) RS Sharma
(e) Mohammad Mustafa

S13. Ans.(c)
Sol. Subhash Chandra Khuntia is the present Chairman of IRDAI.

Q14. Small Industries Development Bank of India or SIDBI is the principal development financial institution in India headquartered at Lucknow with branches all over India. Who is Chairman of SIDBI?
(a) Mohammad Mustafa
(b) Dr Kshatrapati Shivaji
(c) TS Vijayan
(d) RS Sharma
(e) HK Bhanwala

S14. Ans.(a)
Sol. Mohammad Mustafa is Chairman of SIDBI.

Q15. The Securities and Exchange Board of India (SEBI) is the regulator for the securities market in India. Who is present Chairman of SEBI?
(a) HK Bhanwala
(b) RS Sharma
(c) TS Vijayan
(d) Ajay Tyagi
(e) Mohammad Mustafa