SBI PO/Clerk Main Banking Awareness Quiz: 16th July |

Dear Aspirants,

SBI PO/Clerk Mains 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. PSLCs are tradable certificates issued against priority sector loans of banks. What does meaning of "Cs" in PSLCs?

Cess

Cities

Census

Certificates

Council

Solution:

Reserve Bank of India Internal Working Group recommends introduction of priority sector lending certificates (PSLCs) which will enable banks to meet their PSL requirements even while leveraging their comparative advantage in lending.

Q2. The Banking Ombudsman Scheme is introduced under Section 35 A of the Banking Regulation Act, 1949 by RBI with effect from-

1995

1999

1990

1982

1988

Solution:

The Banking Ombudsman Scheme is an expeditious and inexpensive forum for bank customers for resolution of complaints relating to certain services rendered by banks. The Banking Ombudsman Scheme is introduced under Section 35 A of the Banking Regulation Act, 1949 by RBI with effect from 1995.

Q3. MTSS is a way of transferring personal remittances from abroad to beneficiaries in India. What does MTSS stand for-?

Mobile Transfer Service Scheme

Money Transfer System Scheme

Money Timing Service Scheme

Market Transfer Service Scheme

Money Transfer Service Scheme

Solution:

Money Transfer Service Scheme (MTSS) is a quick and easy way of transferring personal remittances from abroad to beneficiaries in India. Only inward personal remittances into India such as remittances towards family maintenance and remittances favouring foreign tourists visiting India are permissible

Q4. How much cash can payment be made to the beneficiary in India under MTSS?

Rs 2,00,000

Rs 50,000

Rs 1,00,000

Rs 10,000

Rs 5,00,000

Solution:

Amounts up to INR 50,000/- may be paid in cash to a beneficiary in India.

Q5. RDA is a channel to receive cross-border remittances from overseas jurisdictions. What does meaning of "A" in RDA?

Account

Assembly

Arrangement

Association

Amount

Solution:

Rupee Drawing Arrangement (RDA) is a channel to receive cross-border remittances from overseas jurisdictions. Under this arrangement, the Authorised Category I banks enter into tie-ups with the non-resident Exchange Houses in the FATF compliant countries to open and maintain their Vostro Account.

Q6. Which organisation holding the highest/maximum share in NABARD as on 01st May 2019?

Finance Ministry

Government of India

Reserve Bank of India

Securities and Exchange Board of India

None of the given options is true

Solution:

The Reserve Bank of India (RBI) has divested its entire stake held in National Housing Bank (NHB), the regulator for housing finance companies, and National Bank for Agriculture and Rural Development (NABARD) to the government, which now holds 100% in these entities.

Q7. Who is the present Chairman of SEBI?

Ajay Tyagi

Kshatrapati Shivaji

Yaduvendra Mathur

Shaktikanta Das

Urjit Patel

Solution:

Ajay Tyagi is the present Chairman of SEBI.

Q8. NABARD's affairs are governed by a Board of Directors and the Board of Directors are appointed by the Government of India in consonance with NABARD Act. Who is the present Chairman of NABARD?

Arvind Subramanian

Rana Kapoor

Arundhati Bhattacharya

Raghuram Rajan

Harsh Kumar Bhanwala

Solution:

Dr. Harsh Kumar Bhanwala is the Chairman of National Bank for Agriculture and Rural Development (NABARD) since December 18, 2013.

Q9. Name the organisation, which mission is Promote sustainable and equitable agriculture and rural prosperity through effective credit support, related services, institution development and other innovative initiatives?

SEBI

RBI

SIDBI

NABARD

FICCI

Solution:

The mission of NABARD is Promote sustainable and equitable agriculture and rural prosperity through effective credit support, related services, institution development and other innovative initiatives. NABARD stands for National Bank for Agriculture and Rural Development.

Q10. At the instance of Government of India Reserve Bank of India (RBI) was constituted a committee to review the arrangements for institutional credit for agriculture and rural development (CRAFICARD) on 30 March 1979, under the Chairmanship of-

V K Malhotra

C Rangarajan

B Sivaraman

Hilton Young

None of the given options is true

Solution:

The importance of institutional credit in boosting rural economy has been clear to the Government of India right from its early stages of planning. Therefore, the Reserve Bank of India (RBI) at the insistence of the Government of India, constituted a Committee to Review the Arrangements For Institutional Credit for Agriculture and Rural Development (CRAFICARD) to look into these very critical aspects. The Committee was formed on 30 March 1979, under the Chairmanship of Shri B. Sivaraman, former member of Planning Commission, Government of India.

Q11. The Government of India, the concerned State Government and the bank, which had sponsored the RRB contributed to the share capital of RRBs in the proportion of ________________ respectively.

50%, 15% and 35%

50%, 35% and 15%

35%, 50% and 35%

15%, 50% and 35%

None of the given options is true

Solution:

The Union government has a 50% stake, the respective state governments, 15%, and the sponsor banks have a 35% stake.

Q12. Regional Rural Banks (RRBs) were established in 1975 under the provisions of the Ordinance promulgated on the 26th September 1975 and followed by which act?

Companies Act, 1956

RRBs Act, 1976

RBI Act, 1935

Banking Regulation Act, 1949

None of the given options is true

Solution:

Regional Rural Banks were established under the provisions of an Ordinance passed on 26th September,1975 and the RRB Act 1976 to provide sufficient banking and credit facility for agriculture and other rural sectors.

Q13. FICCI is the largest and oldest apex business organisation in India. (FICCI) was established in-

1913

1919

1927

1935

1949

Solution:

The Federation of Indian Chambers of Commerce and Industry (FICCI) is an association of business organisations in India. Established in 1927, on the advice of Mahatma Gandhi by GD Birla and Purushottam Das Thakurdas, it is the largest, oldest and the apex business organisation in India.

Q14. FICCI history is closely interwoven with India's struggle for independence, its industrialization, and its emergence as one of the most rapidly growing global economies. What is meaning of "F" in FICCI?

Follower

Federal

Financial

Federation

Fully

Solution:

FICCI stands for The Federation of Indian Chambers of Commerce and Industry,

Q15. In which of the following cities, The Head Office of FICCI is located?

Hyderabad

Chennai

Kolkata

Mumbai

New Delhi

Solution:

The Head Office of FICCI is located in New Delhi.

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