IBPS RRB PO/Clerk Main Banking Awareness Quiz: 20th 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. Financial Literacy Week 2019 has been observed from 03rd to 07th June on the theme of ________________ and how they benefit by being a part of the formal banking system.

(a) Farmers

(b) Students

(d) Education

(e) Care

Q2. The RBI has slapped a penalty of Rs _____________ on Kotak Mahindra Bank for the non-state lender’s failure to adhere to the regulator’s diktat on promoter shareholding.

(a) Rs. 15 crores

(b) Rs. 2 crores

(d) Rs. 5 crores

(e) Rs. 25 crores

Q3. Based on the recommendations of the Committee on Currency Movement (CCM), the Reserve Bank has directed banks to ensure their ATMs are grouted to a wall, pillar, or floor by September-end. The committee to review the entire gamut of security of treasure in transit is chaired by-?

(a) R Gandhi

(b) Usha Thorat

(d) Nachiket Mor

(e) Harun Rashid Khan

Q4. The Jammu and Kashmir Bank will now come under the purview of Right to Information Act and Central Vigilance Commission (CVC) guidelines. Who is present Interim Chairman and Managing Director of Jammu and Kashmir Bank?

(a) Sanjiv Agarwal

(b) Anil Kumar Misra

(d) RK Chhibber

(e) Mohammad Ashraf Mir

Q5. Reserve Bank fined country’s largest private sector lender HDFC Bank Rs _____________ for not reporting frauds and non-compliance with other directions.

(a) Rs. 100 crores

(b) Rs. 6 crores

(d) Rs. 5 crores

(e) Rs. 1 crore

Q6. Jammu and Kashmir Bank is a J&K-based private sector banking and financial services company. In which year J&K Bank was incorporated?

(a) 1949

(b) 1956

(d) 1952

(e) 1938

Q7. HDFC Bank Limited is an Indian banking and financial services company headquartered in-?

(a) Nagpur

(b) Pune

(d) Mumbai

(e) Jaipur

Q8. _________________ customers can deposit cash of up to Rs 50,000 for free only thrice a month from 01st July 2019.

(a) Indian Bank

(b) State Bank of India

(d) Punjab National Bank

(e) Bank of Baroda

Q9. CCI has approved the merger of the Indiabulls Housing Finance and Lakshmi Vilas Bank recently. What is the full form of CCI?

(a) Competition Commission of International

(b) Competition Commission of India

(d) Central Commission of India

(e) Competition Core of Institute

Q10. Reserve Bank of India’s (RBI) Deputy Governor _____________________ has quit six months before the scheduled end of his term in June 2019.

(a) Viral Acharya

(b) NS Vishwanathan

(d) SS Mundra

(e) R Gandhi

Q11. The Reserve Bank of India has advised all Scheduled Commercial Banks to adopt Education Loan Scheme, formulated by Indian Banks Association. In this scheme, loan upto Rs ____________ lakh for study in India and upto Rs _____________ lakh for study abroad.

(a) Rs 40 lakh, Rs 60 lakh

(b) Rs 20 lakh, Rs 40 lakh

(d) Rs 10 lakh, Rs 20 lakh

(e) Rs 30 lakh, Rs 40 lakh

Q12. The Complaint Management System (CMS) is a software application launched by _________________ on its website.

(a) RBI

(b) IRDAI

(d) TRAI

(e) SEBI

Q13. The Reserve Bank relaxed the leverage ratio (LR) to _____________ for Domestic Systemically Important Banks (DSIBs) and 3.5% for other banks.

(a) 4.75%

(b) 5.50%

(d) 5.00%

(e) 4.00%

Q14. The RBI is planning to introduce a dedicated IVR system to track the status of complaints. What is the full form of IVR?

(a) International Voice Response

(b) Interactive Vehicles Response

(d) Indian Voice Response

(e) Initial Voice Response

Q15. The Reserve Bank of India has advised all Scheduled Commercial Banks to adopt Education Loan Scheme, formulated by Indian Banks Association. In this scheme, the Collateral free loans upto Rs _______________ under the Credit Guarantee Fund Scheme for Education Loans (CGFSEL).

(a) Rs 10 Lakh

(b) Rs 7.5 Lakh

(d) Rs 20 Lakh

(e) Rs 50 Lakh

Solutions

S1. Ans.(a)

Sol. Financial Literacy Week 2019 to be observed from June 3-7 on the theme of “Farmers” and how they benefit by being a part of the formal banking system. Financial Literacy Week is an initiative of RBI to promote awareness of key topics every year through a focused campaign. Growth in agriculture is necessary for the overall economic growth and finance is an essential enabler for the same.

S2. Ans.(b)

Sol. The RBI has slapped a penalty of Rs. 2 crores on Kotak Mahindra Bank for the non-state lender’s failure to adhere to the regulator’s diktat on promoter shareholding.

S3. Ans.(c)

Sol. Based on the recommendations of the Committee on Currency Movement (CCM), the Reserve Bank have directed banks to ensure their ATMs are grouted to a wall, pillar, or floor by September-end, except those installed in high secured premises such as airports, to enhance security of the cash vending machines. The committee to review the entire gamut of security of treasure in transit is chaired by Shri D.K. Mohanty.

S4. Ans.(d)

Sol. The Jammu and Kashmir Bank will now come under the purview of Right to Information Act and Central Vigilance Commission (CVC) guidelines as per the decisions taken by the Board of Directors of the Jammu and Kashmir Bank to ensure greater transparency and accountability. RK Chhibber is present Interim Chairman and Managing Director of Jammu and Kashmir Bank.

S5. Ans.(e)

Sol. Reserve Bank fined country’s largest private sector lender HDFC Bank Rs 1 crore for not reporting frauds and non-compliance with other directions. The fine pertains to submission of forged bill of entries (BoEs) by certain importers to HDFC Bank for remittance of foreign currency.

S6. Ans.(e)

Sol. Jammu and Kashmir Bank is a J&K -based private sector banking and financial services company. It is a Private-owned bank with state share with its headquarters in Srinagar, Jammu and Kashmir, India. J&K Bank was incorporated in 1938 and the first bank in the country to emerge as a state–owned bank.

S7. Ans.(d)

Sol. HDFC Bank Limited is an Indian banking and financial services company headquartered in Mumbai, Maharashtra.

S8. Ans.(c)

Sol. From July 1, Canara Bank customers can deposit cash of up to Rs 50,000 for free only thrice a month. From the fourth transaction or for cash deposits of over Rs 50,000, there will be a service charge of Rs 1 per thousand, with a minimum of Rs 50 and a maximum of Rs 5,000 plus GST.

S9. Ans.(b)

Sol. Competition Commission of India (CCI) has approved the merger of the Indiabulls Housing Finance and Lakshmi Vilas Bank. Lakshmi Vilas Bank is going to merge with Indiabulls Housing Finance in a share swap deal with intent to create a combined entity with a larger capital base and wider geographical reach.

S10. Ans.(a)

Sol. Reserve Bank of India’s (RBI) Deputy Governor Viral Acharya has quit six months before the scheduled end of his term. He had joined RBI on January 23, 2017. Viral Acharya was in charge of the Financial Stability Unit, Monetary Policy Department, Department of Economic and Policy Research, Financial Markets Operation Department, Financial Market Regulation Department, among others at the RBI.

S11. Ans.(d)

Sol. The Reserve Bank of India has advised all Scheduled Commercial Banks to adopt Education Loan Scheme, formulated by Indian Banks Association. In this scheme, Loan upto Rs 10 lakh for study in India and upto Rs 20 lakh for study abroad.

S12. Ans.(a)

Sol. The Complaint Management System (CMS) is a software application launched by Reserve Bank of India on its website. It will be used for lodging complaints against banks and NBFCs with a view to improve customer experience in timely redressal of grievances.

S13. Ans.(e)

Sol. The Reserve Bank relaxed the leverage ratio (LR) to 4% for Domestic Systemically Important Banks (DSIBs) and 3.5% for other banks. This has been done to help them boost their lending activities. The reduced leverage ratio will be effective from the quarter commencing October 1, 2019.

S14. Ans.(c)

Sol. The RBI is planning to introduce a dedicated Interactive Voice Response (IVR) system to track the status of complaints.

S15. Ans.(b)

Sol. The Reserve Bank of India has advised all Scheduled Commercial Banks to adopt Education Loan Scheme, formulated by Indian Banks Association. Collateral free loans upto Rs 7.5 Lakh under the Credit Guarantee Fund Scheme for Education Loans (CGFSEL).