IBPS RRB PO/Clerk Main Banking Awareness Quiz: 22nd August 2019 |

Dear Aspirants,

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IBPS RRB PO/Clerk Main 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. ________________ and Common Services Centres launched a co-branded ‘Small Business Money-Back Credit Card’ for small traders and village-level entrepreneurs (VLEs).

(a) State Bank of India

(b) HDFC Bank

(d) Bank of Baroda

(e) Kotak Mahindra Bank

S1. Ans.(b)

Sol. HDFC Bank and Common Services Centres launched a co-branded ‘Small Business Money Back Credit Card’ for small traders and village-level entrepreneurs (VLEs). The credit card is specifically designed for VLEs and VLE-sourced customers. It will give users easy access to credit for their day-to-day business expenses.

Q2. “Inter-Ministerial Committee” on the legality of cryptocurrencies and blockchain has submitted its report to the Finance Ministry. The committee was set up under the Chairmanship of-?

(a) Arvind Subramanian

(b) Rajiv Gauba

(d) Naresh Goyal

(e) Subhash Chandra Garg

S2. Ans.(e)

Sol. “Inter-Ministerial Committee” on legality of cryptocurrencies and blockchain has submitted its report to the Finance Ministry. The committee was set up under the Chairmanship of Economic Affairs Secretary Subhash Chandra Garg in 2017.

Q3. Reserve Bank of India has assigned deputy governor ____________________ to run the monetary policy portfolio and forecasting department.

(a) MK Jain

(b) NS Vishwanathan

(d) Viral Acharya

(e) SS Mundra

S3. Ans.(c)

Sol. Reserve Bank of India has assigned deputy governor B.P. Kanungo to run the monetary policy portfolio and forecasting department. After the exit of Viral Acharya, Kanungo has become the 6th member of the RBI’s Monetary Policy Committee.

Q4. Which of the following organisation has imposed a penalty on two online payment solutions providers Mobikwik Systems and Hip Bar for non compliance of regulatory guidelines?

(a) RBI

(b) NABARD

(d) TRAI

(e) SEBI

S4. Ans.(a)

Sol. The Reserve Bank of India has imposed a penalty on two online payment solutions providers Mobikwik Systems and Hip Bar for non compliance of regulatory guidelines. Mobikwik Systems Private Limited has been slapped a fine of Rs 15 lakh while Hip Bar Pvt Ltd faced a fine of Rs 10.85 lakh.

Q5. The Reserve Bank of India has relaxed norms for end-use of money raised through ECBs for corporates as well as liquidity starved non-banking lenders. What is the full form of ECBs?

(a) External Core Borrowings

(b) External Commercial Branches

(d) External Commercial Borrowings

(e) External Common Borrowings

S5. Ans.(d)

Sol. The Reserve Bank of India has relaxed norms for end-use of money raised through External Commercial Borrowings (ECBs) for corporates as well as liquidity starved non banking lenders. The liberalisation will be applicable to ECBs taken for working capital, general corporate purpose loans or repayment of rupee loans.

Q6. HDFC Bank Limited is an Indian banking and financial services company headquartered in Mumbai. Who is the Managing Director of HDFC Bank?

(a) Vijay Shekhar Sharma

(b) Deepak Parekh

(d) Sandeep Bakhshi

(e) Shyamala Gopinath

S6. Ans.(c)

Sol. Aditya Puri is the Managing Director of HDFC Bank.

Q7. The postal department has decided to convert the India Post Payments Bank into a small finance bank. India Post Payments Bank (IPPB) based in-?

(a) Bengaluru

(b) Kolkata

(d) Mumbai

(e) New Delhi

S7. Ans.(e)

Sol. The postal department has decided to convert the India Post Payments Bank into a small finance bank. This bank will provide micro credit at the doorsteps to individuals and SME’s. The postal department has also target the milestone of 1 crore accounts for IPPB in 100 days. The IPPB bank based in New Delhi.

Q8. Which Bank has allowed “Bank of China” to offer regular banking services in the country?

(a) RBI

(b) SBI

(d) IRDAI

(e) NABARD

S8. Ans.(a)

Sol. The Reserve Bank of India (RBI) allowed “Bank of China” to offer regular banking services in the country. Banks falling under this schedule have to adhere to the norms of the RBI. ‘Bank of China Limited’ has been included in the 2nd Schedule to the Reserve Bank of India Act, 1934.

Q9. The State Bank of India’s (SBI) Shanghai branch is now connected to CNAPS. What is the full form of CNAPS?

(a) China’s National Advance Public System

(b) China’s Nominal Advance Payment Security

(d) China’s National Advance Payment System

(e) China’s National Agency Private System

S9. Ans.(d)

Sol. The State Bank of India’s (SBI) Shanghai branch is now connected to China’s National Advance Payment System (CNAPS). SBI is the only Indian bank to have obtained the license to do business in local currency and also inducted to the CNAPS by the People’s Bank of China (PBOC).

Q10. RBI has imposed a penalty of Rs _______________ on Punjab National Bank for the delay in reporting of fraud observed from the fraud monitoring report-1 submitted by Punjab National Bank on July 10, 2018, in the account of Kingfisher Airlines Limited.

(a) Rs 50 lakhs

(b) Rs 80 lakhs

(d) Rs 70 lakhs

(e) Rs 20 lakhs

S10. Ans.(a)

Sol. RBI has imposed a penalty of Rs 50 lakh on Punjab National Bank (PNB) for the delay in reporting of fraud observed from the fraud monitoring report-1 submitted by Punjab National Bank on July 10, 2018, in the account of Kingfisher Airlines Limited.

Q11. Who is present Managing Director & Chief Executive Officer of Punjab National Bank?

(a) PS Jayakumar

(b) Usha Ananthasubramanian

(d) Rakesh Sharma

(e) Sunil Mehta

S11. Ans.(e)

Sol. Managing Director & Chief Executive Officer of PNB: Sunil Mehta.

Q12. The Reserve Bank of India has imposed a collective penalty of Rs 12 crore on 8 public sector banks. Allahabad Bank and Bank of Maharashtra have been imposed with a penalty of Rs __________ each.

(a) Rs 5 crore

(b) Rs 10 crore

(d) Rs 2 crore

(e) Rs 3 crore

S12. Ans.(d)

Sol. The Reserve Bank of India has imposed a collective penalty of Rs 12 crore on 8 public sector banks. The penalty has been imposed for non-compliance with certain provisions of directions issued by RBI on ‘Code of Conduct for Opening and Operating Current Accounts. Allahabad Bank and Bank of Maharashtra have been imposed with a penalty of Rs 2 crore each.

Q13. In its 3rd Bi-monthly Monetary Policy Committee meeting, the Reserve Bank of India has reduced the policy repo rate by-?

(a) 15 basis points

(b) 20 basis points

(d) 50 basis points

(e) 10 basis points

S13. Ans.(c)

Sol. In its 3rd Bi-monthly Monetary Policy Committee meeting, the Reserve Bank of India has reduced the policy repo rate by 35 basis points (bps). The MPC has also decided to maintain the accommodative stance of monetary policy.

Q14. The Reserve Bank of India has decided to set up a “Central Payment Fraud Registry”. The registry will track frauds in-

(a) cheque systems

(b) payment systems

(d) fraud systems

(e) card systems

S14. Ans.(b)

Sol. The Reserve Bank of India has decided to set up a “Central Payment Fraud Registry”. The registry will track frauds in the payment systems. Under this registry, payment system participants will be provided access to it for near-real time fraud monitoring. The aggregated fraud data will be published to educate customers on emerging risks.

Q15. What is the present repo rate?

(a) 5.40%

(b) 5.50%

(d) 5.60%

(e) 5.75%

S15. Ans.(a)

Sol. The current repo rate is 5.40%.