Banking Quiz for Canara Bank and Syndicate Bank PO 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 not only helps you deal with the General Awareness Section of Banking Exams but also, the Personal Interview round of Banking Recruitment.

Q1. ___________ is a computerized machine that provides the customers of banks the facility of accessing their account for dispensing cash and to carry out other financial & non-financial transactions without the need to actually visit their bank branch.

(a) Financial Fund

(b) Core Sector

(c) Online Banking

(d) ATM

(e) Net Banking

Q2. PIN is the numeric password which is separately mailed/handed over to the customer by the bank while issuing the card. PIN stands for-

(a) Personal Identification Number

(b) Product Identification Number

(c) Payment Identification Number

(d) Permanent Identification Number

(e) Percent Identification Number

Q3. What is the meaning of “T” in ATM?

(a) Time

(b) Trade

(c) Teller

(d) Timing

(e) Treat

Q4. What are White Label ATMs (WLAs)?

(a) Owned and operated by non-banks

(b) ATM operators are authorized under Payment & Settlement Systems Act, 2007

(c) WLAs may offer many other services/facilities to bank customers

(d) All of the above

(e) Owned and operated by PSBs

Q5. LTV ratio is a financial term used by lenders to express the ratio of a loan to the value of an asset purchased. LTV stands for-

(a) Loan-To-Vehicles

(b) Loan-To-Value

(c) Loan-To-Van

(d) Lease-To-Value

(e) List-To-Value

Q6. How many remittances can be received by a single individual beneficiary under the MTSS during a calendar year?

(a) 30

(b) 40

(c) 50

(d) 60

(e) 70

Q7. MTSS stands for-

(a) Money Transfer Service Send

(b) Money Transfer Service Scheme

(c) Money Transfer Service Solutions

(d) Money Transfer System Scheme

(e) Money Transaction Service Scheme

Q8. What is the full form of AEPS?

(a) AADHAR Enabled Payment Service

(b) AADHAR Enabled Payment Scheme

(c) AADHAR Enabled Payment System

(d) AADHAR Enabled Payment Solution

(e) AADHAR Enabled Product System

Q9. Nepal Remittance Scheme is a cross-border one-way remittance facility scheme for remittance from India to Nepal, enabled under the NEFT Scheme. A remitter can transfer funds up to Indian Rupees ______ (maximum permissible amount) from any of the NEFT-enabled branches in India.

(a) Rs 2,00,000

(b) Rs 1,00,000

(c) Rs 1,50,000

(d) Rs 50,000

(e) Rs 2,50,000

Q10. An originator in India is allowed to remit a maximum of ______ remittances in a year under the Nepal Remittance Scheme.

(a) 42

(b) 10

(c) 24

(d) 18

(e) 12

Q11. The Reserve Bank of India (RBI) is to launch a financial literacy drive in 80 blocks in nine states on the pilot basis to educate people on e-transactions, formal sector borrowings and insurance purchases. What is the aim of this drive? 

(a) To inculcate the habit of making a household budget and recording financial transactions

(b) Encourage transactions in savings accounts

(c) Active saving by depositing in banks through fixed deposits and recurring deposits

(d) All of the above is the aim of this drive

(e) Refers to the efficient and effective management of money (funds) in such a manner as to accomplish the objectives

Q12. Senior Citizen Savings Scheme (SCSS) Account is an individual of the Age of ________ or more may open the account.

(a) 60 years

(b) 55 years 

(c) 70 years 

(d) 50 years 

(e) 65 years 

Q13. In the Fifth Bi-monthly Monetary Policy Statement 2017-18, the Monetary Policy Committee (MPC) has decided to keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at-? 

(a) 5.50 percent

(b) 5.75 percent

(c) 6.25 percent

(d) 6.50 percent

(e) 6.00 percen

Q14. RBI has notified that P2P lending platforms need to be regulated and treated on par with Non-Banking Financial Companies (NBFCs). P2P stands for-

(a) Product-to-Product

(b) Peer-to-Peer

(c) Person-to-Person

(d) Primary-to-Primary

(e) Priority-to-Priority

Q15. Which among the following organisation has allowed Infrastructure Investment Trusts (InvITs) and Real Estate Investment Trusts (REITs) to raise capital by issuing debt securities?

(a) SIDBI

(b) IRDAI

(c) SEBI

(d) NABARD

(e) RBI

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