Banking Awareness Quiz for Bank Exam: 11-June-2020

The Banking Awareness section constitutes a major part of a competitive examination and needs your undivided attention. 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 or Insurance Recruitment.

To complement your preparation for General Awareness section of the upcoming exams like SBI Clerk Mains and RBI Assistant Mains we are providing you Banking Awareness Quiz of 11th June 2020 covering the following topics: Priority Sector, MSMED, Micro Enterprise, Pradhan Mantri Vaya Vandana Yojana.

Q1. Which of the following are not the Priority Sector categories?
(a) Education
(b) Housing
(c) Roadways
(d) Micro, Small and Medium Enterprises
(e) Export Credit

Q2. The Government of India has enacted the Micro, Small and Medium Enterprises Development (MSMED) Act, ____________.
(a) 2012
(b) 2010
(c) 2008
(d) 2004
(e) 2006

Q3. Which organisation has been given the sole privilege to operate Pradhan Mantri Vaya Vandana Yojana?
(a) TRAI
(b) IRDAI
(c) SEBI
(d) LIC of India
(e) State Bank of India

Q4. What is the loan limit for individuals to education under priority sector?
(a) Rs. 100 million
(b) Rs. 5 million
(c) Rs. 10 million
(d) Rs. 1 million
(e) Rs. 3 million

Q5. A micro enterprise is an enterprise where investment in plant and machinery does not exceed Rs. ____________ lakh.
(a) Rs. 20 lakh
(b) Rs. 25 lakh
(c) Rs. 50 lakh
(d) Rs. 100 lakh
(e) Rs. 10 lakh

Solutions

S1. Ans.(c)
Sol. Priority Sector includes the following categories:
(i) Agriculture
(ii) Micro, Small and Medium Enterprises
(iii) Export Credit
(iv) Education
(v) Housing
(vi) Social Infrastructure
(vii) Renewable Energy
(viii) Others

S2. Ans.(e)
Sol. The Government of India has enacted the Micro, Small and Medium Enterprises Development (MSMED) Act, 2006 in terms of micro, small and medium enterprises.

S3. Ans.(d)
Sol. LIC of India has been given the sole privilege to operate Pradhan Mantri Vaya Vandana Yojana.

S4. Ans.(d)
Sol. Loans to individuals for educational purposes including vocational courses upto Rs. 1 million irrespective of the sanctioned amount are eligible for classification under priority sector.

S5. Ans.(b)
Sol. A micro enterprise is an enterprise where investment in plant and machinery does not exceed Rs. 25 lakh.

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