LIC AAO Banking Awareness Quiz: 10th April |

Dear Aspirants,

banking-questions-for-LIC-AAO-Mains-2019-20

Banking Quiz for LIC AAO 2019-20:

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. Which Bank has been categorized as a private sector lender following the acquisition of majority stake by Life Insurance Corporation?

UCO Bank

Vijaya Bank

Corporation Bank

IDBI Bank

State Bank of India

Solution:

As per RBI notification, IDBI Bank has been categorized as a private sector lender following the acquisition of majority stake by Life Insurance Corporation. IDBI Bank has been under the prompt corrective action framework of RBI that bans it from corporate lending and branch expansions, salary hikes and other regular activities.

Q2. The Reserve Bank of India (RBI) named State Bank of India (SBI), ICICI Bank and ________________________ as D-SIBs, which in other words mean banks that are too big to fail.

HDFC Bank

Bank of Baroda

Axis Bank

Punjab National Bank

HSBC Bank

Solution:

The Reserve Bank of India (RBI) named State Bank of India (SBI), ICICI Bank and HDFC Bank as Domestic Systemically Important Banks (D-SIBs), which in other words mean banks that are too big to fail. As per the norms, these banks will have to set aside more capital for their continued operation. Inclusion in D-SIB indicates that failure of any of these banks would have a cascading effect on the Indian financial system.

Q3. Which Bank has launched a new service called ‘YONO Cash’ for its customers using which customers can withdraw money from ATMs without using debit cards?

HDFC Bank

Union Bank of India

Bank of Baroda

ICICI Bank

State Bank of India

Solution:

The State Bank of India has launched a new service called ‘YONO Cash’ for its customers using which customers can withdraw money from ATMs without using debit cards. This facility is available over 16,500 of its ATMs through the You Only Need One (YONO), mobile app platform for the first time in the country. The ATMs enabled for this service will be called as YONO Cash Point.

Q4. D-SIBs has already been phased-in from 01st April 2016 and fully effective from 01st April 2019. What is the full form of D-SIBs?

Dividend Systemically Important Banks

Domestic Security Important Banks

Domestic Systemically Important Banks

Domestic Systemically International Banks

Domestic Systemically Interface Banks

Solution:

SBI, ICICI Bank and HDFC Bank continue to be in the Reserve Bank of India’s list of Domestic Systemically Important Banks (D-SIBs) for 2018. The additional Common Equity Tier 1 (CET1) requirement for D-SIBs has already been phased-in from 1st April 2016 and fully effective from 01st April 2019, the RBI stated, releasing the list for 2018.

Q5. YONO is an integrated digital banking platform offered by State Bank of India (SBI) to enable users to access a variety of financial and other services such as taxi bookings, online shopping, or medical bill payments. YONO stands for-

You Only Need Only

You Only Need One

You Only Nation One

Yahoo Only Need One

You Only Never One

Solution:

YONO (You Only Need One) is an integrated digital banking platform offered by State Bank of India (SBI) to enable users to access a variety of financial and other services such as taxi bookings, online shopping, or medical bill payments. YONO is offered as a smartphone app for both Android and iOS.

Q6. In January 2019, LIC has completed the process of picking up a controlling ___________________ stake in the nearly crippled IDBI Bank.

51%

49%

75%

25%

100%

Solution:

In January 2019, LIC completed the process of picking up a controlling 51% stake in the nearly crippled IDBI Bank. IDBI Bank has been categorized as a ‘private sector bank’ with effect from 21st January 2019.

Q7. Reserve Bank of India has provided no objection to ________________ for the proposed acquisition of Gruh Finance.

Lakshmi Vilas Bank

Bandhan Bank

IDFC Bank

Kotak Mahindra Bank

India Post Payments Bank

Solution:

Reserve Bank of India provided no objection to Bandhan Bank for the proposed acquisition of Gruh Finance. Gruh Finance Limited is an Ahmedabad headquartered Subsidiary of HDFC Limited.

Q8. Which of the following Bank has signed a pact with the Bank of China to boost business opportunities recently?

ICICI Bank

Punjab National Bank

State Bank of India

HDFC Bank

Axis Bank

Solution:

The country’s largest lender State Bank of India has signed a pact with the Bank of China to boost business opportunities. SBI has signed an MoU to enhance business synergies between both the banks.

Q9. The Reserve Bank of India has slapped a penalty of ____________________ on Punjab National Bank for non-compliance of regulatory directions with regard to SWIFT operations.

Rs 5 crores

Rs 7 crores

Rs 11 crores

Rs 2 crores

Rs 14 crores

Solution:

The Reserve Bank of India has slapped a penalty of Rs 2 crore on Punjab National Bank for non-compliance of regulatory directions with regard to SWIFT operations. SWIFT is a global messaging software used for sharing information on inter-bank transactions by financial entities.

Q10. Bandhan Bank Limited is an Indian banking and financial services company headquartered in-

Mumbai

New Delhi

Lucknow

Patna

Kolkata

Solution:

Bandhan Bank Ltd. is an Indian banking and financial services company headquartered in Kolkata, West Bengal. Bandhan, which started as a micro-finance company in 2001, received banking licence by Reserve Bank of India in 2014

Q11. Bank of Baroda has signed an MoU with agriculture services companies to develop an agriculture digital platform _____________________ which will provide solutions for agricultural requirements.

Baroda Khet

Baroda Krishi

Baroda Farmer

Baroda Kisan

Baroda Sichai

Solution:

Bank of Baroda has signed an MoU with agriculture services companies to develop an agriculture digital platform, Baroda Kisan, which will provide solutions for agricultural requirements. BoB has signed the agreement with Skymet Weather Services, Weather Risk Management Services, BigHaat, Agrostar India, EM3 Agri Services, and Poorti Agri Services.

Q12. The Finance Ministry has decided to infuse _____________________ crores into state-owned Bank of Baroda (BoB) after of the merger of two other public sector lenders Dena Bank and Vijaya Bank with BoB.

Rs 5,042 crore

Rs 1,342 crore

Rs 9,745 crore

Rs 10,321 crore

Rs 6,742 crore

Solution:

The Finance Ministry has decided to infuse Rs 5,042 crore into state-owned Bank of Baroda (BoB) after the merger of two other public sector lenders Dena Bank and Vijaya Bank with BoB.

Q13. State-owned lender Punjab National Bank (PNB) had sold stake in its housing finance arm, PNB Housing Finance (PNBHF) to General Atlantic Group and Varde Partners for Rs 1,851 crore at Rs 850 per share. PNB based in-

Mumbai

Kolkata

Hyderabad

Chennai

New Delhi

Solution:

State-owned lender Punjab National Bank (PNB) had sold stake in its housing finance arm, PNB Housing Finance (PNBHF) to General Atlantic Group and VardePartners for Rs 1,851 crore at Rs 850 per share. Both VardePartners and General Atlantic Group will buy 1.089 crore shares each at Rs 850 per share in the housing finance company from Punjab National Bank. PNB based in New Delhi.

Q14. Which organisation has set the average base rate to be charged from borrowers by non-banking financial companies (NBFCs) and micro-finance institutions (MFIs) at 9.21% for the first quarter of the current fiscal (April-June)?

IRDAI

RBI

NABARD

SEBI

TRAI

Solution:

The Reserve Bank set the average base rate to be charged from borrowers by non-banking financial companies (NBFCs) and micro-finance institutions (MFIs) at 9.21% for the first quarter of the next fiscal (April-June). The regulator in February 2014 had issued directions to NBFC-MFIs regarding pricing of credit.

Q15. Kotak Mahindra Bank (Kotak) stated that it will charge customers for UPI transactions starting 1st of May 2019. Where is the headquarters of Kotak Mahindra Bank?

Bengaluru

Hyderabad

Chennai

Mumbai

Cochin

Solution:

Kotak Mahindra Bank (Kotak) stated that it will charge customers for UPI transactions starting 1st of May 2019. For each Kotak Bank account, the first 30 UPI fund transfers will be free, after which a charge will be levied on all fund transfers from the bank account.

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