GA Questions asked in SBI CBO 2020 Exam

The State Bank of India has successfully conducted the SBI CBO 2020 exam today on 28 November 2020. It is important for all the aspirants who appeared for the exam today and those who are yet to appear for other upcoming banking exams to look at the questions and important topics on which questions were based in the General Awareness section of the SBI CBO exam 2020. In this article, we will be analyzing the General Awareness section of today’s exam. Let us first look at the exam pattern of the SBI CBO 2020 exam that was conducted today on 28th November 2020.

SBI CBO 2020: Exam Pattern

There was a descriptive test too that was a part of the SBI CBO  Exam 2020. Check the detailed Exam analysis of SBI CBO Exam 2020 from the link  mentioned below

Topics Asked in General Awareness Section of SBI CBO Exam 2020.

The general awareness section was of moderate difficulty level. It consisted of 30 questions of 60 marks for which the aspirants were given 30 minutes. below are the Questions/Topics on which the Questions were based In the General/ Economy/ Banking Awareness/ KYCAML/ Preventive Vigilance/ Legal Issues- Section of SBI CBO Exam 2020 conducted on 28th November 2020: KYC, Money Laundering, CIBIL, OCEN, RAMSAR Convention.

1. What is the full form of KYC and documents required under KYC?

Solution: KYC means Know Your Customer and sometimes Know Your Client. In other words, banks must make sure that their clients are genuinely who they claim to be. KYC process includes ID card verification, face verification, document verification such as utility bills as proof of address, and biometric verification.

2. What is Money Laundering?

Solution: Money laundering is the illegal process of concealing the origins of money obtained illegally by passing it through a complex sequence of banking transfers or commercial transactions.

3. What is the Maximum Score of CIBIL?

Solution: Your CIBIL score ranges from 300 to 900 and the higher your score, better are your chances of getting a loan approved. In fact, 79% of loans are sanctioned to consumers with a CIBIL score greater than 750.

4. What is the fullform of OCEN?

Solution: Open Credit Enablement Network

5. What is the Value of 1 Pound in Indian Rupee?

Solution: 98.42 Indian Rupee

6. What is Floating Rate Saving Bond?

Solution: RBI’s Floating Rate Savings Bonds 2020 are bonds issued by the Government of India, with an interest rate of 7.15 percent.The interest rate on these bonds will be reset every six months (mentioned below).

7. FASTags mandatory for all four-wheelers upto?

Solution: The Ministry of Road Transport and Highways (MoRTH) has issued a notification that FASTags will become mandatory for all four-wheelers, including old vehicles, from January 1, 2021.

8. What is UAPA 1967 ACT?

Solution: Unlawful Activities Prevention Act (UAPA) is an Indian law aimed at effective prevention of unlawful activities associations in India. Its main objective was to make powers available for dealing with activities directed against the integrity and sovereignty of India.

9. What is RAMSAR Convention?

Solution: A Ramsar Site is a wetland site designated to be of international importance under the Ramsar Convention. The name Ramsar comes from the Ramsar City of Iran, where this treaty was signed. The Convention on Wetlands is also known as the Ramsar Convention. It is an intergovernmental environmental treaty established in 1971 by UNESCO and came into force in 1975.

10. Where is the headquarters of Transparency International?

Solution: Berlin, Germany

11. What is Indian Stamp Act?

Solution: The Indian Stamp Act of 1899, is an in-force Act of the Government of India for the charging of stamp duty on instruments recording transactions.

12. What is the period of the National Strategy for Financial Inclusion (NSFI)?

Solution: Reserve Bank of India under the aegis of the Financial Inclusion Advisory Committee (FIAC) initiated the process of formulation of National Strategy for Financial Inclusion (NSFI) for the period 2019-2024.

13. What is the full form of PSLC?

Solution: Priority Sector Lending Certificates

14. What is the full form of CVC?

Solution: Central Vigilance Commission

15. What is Wilful Defaulter?

Solution: A wilful defaulter is a borrower who has the ability to repay the bank but wouldn’t so deliberately. Here, the intent to pay back the money to the lender is absent.

16. How many languages appear in Indian currency notes?

Solution: Contemporary Currency notes have 15 languages on the panel which appear on the reverse of the note.

17. What is PM SVANidhi?

Solution: The Ministry of Housing & Urban Affairs will integrate the application programming interface (API) between SVANidhi portal and various banks to expedite loan sanctioning and disbursement process under Modi government’s PM SVANidhi scheme for nano entrepreneurs.

18. What is Lien Concept?

Solution: A lien is a legal right to claim a security interest in a property provided by the owner of the property to the creditor. It is generally used as a guarantee for some sort of legal obligation such as loan repayment.

19. How long the bank will maintain the details of the account holder after closing the account?

Solution: Once you close a savings or checking account, the bank continues to keep all records associated with the account for a period of five years.

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Frequently Asked Questions-FAQs

Q. What are the average good attempts for this year’s SBI CBO Exam?

Ans. On average, 78-86 are good attempts for the SBI CBO exam 2020.

Q. What was the difficulty level of the GA Section in SBI CBO Exam 2020?

Ans. The General/ Economy/ Banking Awareness/ KYCAML/ Preventive Vigilance/ Legal Issues Section was of moderate difficulty level.

Q. Which section was toughest in SBI CBO 2020 exam?

Ans. As per the students who appeared for the SBI CBO Exam today, the Date Analysis and Interpretation section were the toughest of all.