IBPS RRB PO/Clerk Main Banking Awareness Quiz: 21st 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. As per Second Bi-monthly Monetary Policy Statement for 2019-20, the Reserve Bank of India has stopped imposing additional charges on Fund transfer through RTGS and NEFT systems from-?

(a) 01st June 2019

(b) 01st May 2019

(d) 01st July 2019

(e) 01st January 2019

Q2. The Reserve Bank of India has imposed penalties on four state-run lenders for violating Know Your Customer norms and anti-money laundering standards recently. Which of the following bank is not them?

(a) Punjab National Bank

(b) Bank of Baroda

(d) UCO Bank

(e) Allahabad Bank

Q3. Which Bank has launched the web tool ‘Vasool So-Ft’ (Vasool So-Fast) for digitalising the Non-Performing Asset recovery process of the bank?

(a) ICICI Bank

(b) State Bank of India

(d) South Indian Bank

(e) Karnataka Bank

Q4. Real-time gross settlement systems are specialist funds transfer systems where the transfer of money or securities takes place from one bank to any other bank on a “real-time” and on a “gross” basis. The minimum amount to be remitted through RTGS is-?

(a) Rs. 2,00,000

(b) Rs. 1,00,000

(d) Rs. 10,00,000

(e) Rs. 20,00,000

Q5. Allahabad Bank is a nationalised bank with its headquarters in-?

(a) New Delhi

(b) Mumbai

(d) Chennai

(e) Bengaluru

Q6. Who is present Managing Director & Chief Executive Officer of Karnataka Bank?

(a) Ashok Haranahalli

(b) P Jayarama Bhat

(d) Rammohan Rao Belle

(e) BA Prabhakar

Q7. National Electronic Funds Transfer (NEFT) is a nation-wide payment system facilitating one-to-one funds transfer. The maximum amount per transaction is limited to ________________ for cash-based remittances within India and also for remittances to Nepal under the Indo-Nepal Remittance Facility Scheme in NEFT.

(a) Rs. 10,000

(b) Rs. 2,00,000

(d) Rs. 1,00,000

(e) Rs. 50,000

Q8. Which of the following public sector bank has set up a centralised hub “Centralised MSME & Retail Group” recently?

(a) Punjab & Sind Bank

(b) State Bank of India

(d) Punjab National Bank

(e) Canara Bank

Q9. The Reserve Bank of India board has finalised a three-year roadmap ______________________ and It is a three-year road map for medium term objectives to be achieved for improving regulation and supervision of the central bank.

(a) Udgam 2022

(b) Ujjala 2022

(d) Utkarsh 2022

(e) Unnao 2022

Q10. State Bank of India has reduced its benchmark lending rate by 5 bps across all loan tenures. The lender’s one-year marginal cost of funds based lending rate (MCLR) will be-?

(a) 8.45%

(b) 8.40%

(d) 8.30%

(e) 8.55%

Q11. Punjab & Sind Bank is a government-owned bank, with headquarters in-?

(a) New Delhi

(b) Mumbai

(d) Chennai

(e) Bengaluru

Q12. Deposits in bank accounts opened under Jan Dhan scheme have crossed the ______________ mark as on 03rd July 2019.

(a) Rs 20 lakh crore

(b) Rs 15 lakh crore

(d) Rs 1 lakh crore

(e) Rs 50 lakh crore

Q13. The Reserve Bank of India has penalised State Bank of India and Union Bank of India for violating certain regulatory guidelines recently. How much amount was fined on SBI?

(a) Rs 15 crore

(b) Rs 1 crore

(d) Rs 20 crore

(e) Rs 12 crore

Q14. Name the private sector lender, which has terminated and de-listed its 22 outstanding global depository receipts (GDRs) from the Luxembourg Stock Exchange.

(a) South Indian Bank

(b) Axis Bank

(d) ICICI Bank

(e) HDFC Bank

Q15. Union Bank of India is one of the largest government-owned banks. Where is the headquarters of Union Bank of India?

(a) New Delhi

(b) Mumbai

(d) Chennai

(e) Bengaluru

Solutions

S1. Ans.(d)

Sol. As per Second Bi-monthly Monetary Policy Statement for 2019-20, the Reserve Bank of India will stop imposing additional charges on Fund transfer through RTGS and NEFT systems from 1st July 2019. This has been done to provide an impetus to the digital funds movement.

S2. Ans.(b)

Sol. The Reserve Bank of India has imposed penalties on four state-run lenders for violating Know Your Customer norms and anti-money laundering standards. Punjab National Bank, Allahabad Bank, and UCO Bank were fined Rs 50 lakh each while Corporation Bank was fined Rs 25 lakh.

S3. Ans.(e)

Sol. Karnataka Bank Ltd has launched the web tool ‘Vasool So-Ft’ (Vasool So-Fast) for digitalising the Non-Performing Asset recovery process of the bank. The digital tool for the recovery of stressed assets will provide an end to end digital solution. It will enable easy and faster processing, real-time information and immediate decision making in the recovery area.

S4. Ans.(a)

Sol. The acronym ‘RTGS’ stands for Real-Time Gross Settlement, which can be explained as a system where there is the continuous and real-time settlement of fund-transfers, individually on a transaction by transaction basis (without netting). ‘Real Time’ means the processing of instructions at the time they are received; ‘Gross Settlement’ means that the settlement of funds transfer instructions occurs individually. The RTGS system is primarily meant for large value transactions. The minimum amount to be remitted through RTGS is ₹2,00,000/- with no upper or maximum ceiling.

S5. Ans.(c)

Sol. Allahabad Bank is a nationalised bank with its headquarters in Kolkata, India. It is the oldest joint stock bank in India.

S6. Ans.(c)

Sol. Shri Mahabaleshwara MS took charge as Managing Director & Chief Executive Officer of Karnataka Bank on April 15, 2017. Prior to this, he was serving as Chief General Manager of the Bank.

S7. Ans.(e)

Sol. There is no limit – either minimum or maximum – on the amount of funds that could be transferred using NEFT. However, maximum amount per transaction is limited to ₹ 50,000/- for cash-based remittances within India and also for remittances to Nepal under the Indo-Nepal Remittance Facility Scheme.

S8. Ans.(a)

Sol. Punjab & Sind Bank has set up a centralised hub “Centralised MSME & Retail Group”. It will process retail and MSME loans for the better efficiency of branches in business acquisition. The Cen-MARG has been envisioned to ensure qualitative improvement in credit appraisal, improved turnaround time, uniform documentation, and efficient monitoring.

S9. Ans.(d)

Sol. The Reserve Bank of India board has finalised a three-year roadmap ‘Utkarsh 2022’. It is a three-year road map for medium term objectives to be achieved for improving regulation and supervision of the central bank.

S10. Ans.(b)

Sol. State Bank of India has reduced its benchmark lending rate by 5 bps across all loan tenures. The lender’s one-year marginal cost of funds based lending rate (MCLR) will be 8.4% compared with 8.45%.

S11. Ans.(a)

Sol. Punjab & Sind Bank is a government-owned bank, with headquarters in New Delhi.

S12. Ans.(d)

Sol. Deposits in bank accounts opened under Jan Dhan scheme have crossed the Rs 1 lakh crore mark. As per the latest finance ministry data, the total balance in over 36.06 crore Pradhan Mantri Jan Dhan Yojana accounts was at Rs 1,00,495.94 crore as on July 03rd, 2019.

S13. Ans.(c)

Sol. The Reserve Bank of India has penalised State Bank of India and Union Bank of India for violating certain regulatory guidelines. SBI was fined Rs 7 crore for non-compliance on Income Recognition and Asset Classification norms, code of conduct for opening and operating current accounts and reporting of data on Central Repository of Information on Large Credits, and fraud risk management and classification and reporting of frauds.

S14. Ans.(e)

Sol. Private sector lender HDFC Bank has terminated and de-listed its 22 outstanding global depository receipts (GDRs) from the Luxembourg Stock Exchange. The action has been taken due to low trading volume of GDRs.

S15. Ans.(b)

Sol. Union Bank of India is one of the largest government-owned banks of India; the government owns over 90% of its share capital. The headquarters of Union Bank of India is in Mumbai.