Banking Awareness Quiz|15th March 2019

Banking Awareness Quiz for LIC AAO/SBI PO MAINS 

Q1. Which organisation has slapped a Rs1-crore penalty on Syndicate Bank and Rs20 lakh on Axis Bank for violating norms recently?

(a) NABARD

(b) RBI

(c) SEBI

(d) TRAI

(e) IRDAI

Q2. Indian Banking Association has issued advisory requesting banks to waive off the processing, documentation, inspection and all other service charges for Kisan Credit Card and crop loans up to _________ lakh rupees.

(a) 15 lakh rupees

(b) 10 lakh rupees

(c) 5 lakh rupees

(d) 6 lakh rupees

(e) 3 lakh rupees

Q3. Which of the following Payments Bank has announced the launch of a sweep account facility in association with Suryoday Small Finance Bank (SSFB)?

(a) Fino Payments Bank

(b) India Post Payments Bank

(c) Airtel Payments Bank

(d) Jio Payments Bank

(e) Aditya Birla Payments Bank

Q4. Who is the present Managing Director & CEO of Syndicate Bank?

(a) Kamal Kishore Singhal

(b) Vandana Kumari Jena

(c) Ajay Vipin Nanavati

(d) Mrutyunjay Mahapatra

(e) Ajay K Khurana

Q5. Where is the Head Office of Indian Banks’ Association?

(a) Chennai

(b) New Delhi

(c) Mumbai

(d) Kolkata

(e) Bengaluru

Q6. Where is the Head Office of Suryoday Small Finance Bank?

(a) Jaipur

(b) Bhopal

(c) Nagpur

(d) Pune

(e) Navi Mumbai

Q7. RBI in the exercise of powers conferred under Section 47 A of the Banking Regulation Act, 1949 has levied a penalty of ___________________ on the State Bank of India (SBI) for not monitoring the end use of funds in respect of one of its borrowers.

(a) 5 crore

(b) 100 crore

(c) 20 crore

(d) 1 crore

(e) 10 crore

Q8. Which organization has decided to treat deposits to over Rs. 2 crore as ‘bulk’ as they doubled the limit for the same from the earlier Rs. 1 crore?

(a) SBI

(b) FICCI

(c) RBI

(d) NABARD

(e) IRDAI

Q9. State-owned power giant NTPC has announced that it has signed a term loan agreement for Rs 5,000 crore with ____________________.

(a) Bank of Baroda

(b) State Bank of India

(c) Punjab National Bank

(d) Exim Bank

(e) Union Bank of India

Q10. State Bank of India is an Indian multinational, public sector banking and financial services statutory body. Who is present Chairperson of SBI?

(a) Rajnish Kumar

(b) Arundhati Bhattacharya

(c) Pratip Chaudhuri

(d) Om Prakash Bhatt

(e) Arun Kumar Purwar

Solutions

Ans.1.(b)

Exp. The Reserve Bank of India has slapped a Rs1-crore penalty on Syndicate Bank and Rs20 lakh on Axis Bank for violating norms. The penalty on Syndicate Bank is due to non-compliance with the directions regarding frauds and risk management systems. Axis Bank was fined for contravention of the directions on detection and impounding of counterfeit notes and installation of note sorting machines.

Ans.2.(e)

Exp. Indian Banking Association has issued advisory requesting banks to waive off the processing, documentation, inspection and all other service charges for Kisan Credit Card and crop loans up to 3 lakh rupees. Agriculture Ministry in a release stated that there are over 21 crore small and marginal farmers in the country and providing them timely and affordable credit is the key to attaining inclusive growth.

Ans.3.(a)

Exp. Fino Payments Bank (FPB) has announced the launch of a sweep account facility in association with Suryoday Small Finance Bank (SSFB). This partnership will help FPB address the issue of deposit limits that all the payment banks face at the moment.

Ans.4.(d)

Exp. Mrutyunjay Mahapatra is the present Managing Director & CEO of Syndicate Bank.

Ans.5.(c)

Exp.The Head Offce of Indian Banks’ Association is in Mumbai.

Ans.6.(e)

Exp.The Head Offce of Suryoday Small Finance Bank is in Navi Mumbai.

Ans.7.(d)

Exp. RBI in the exercise of powers conferred under Section 47 A of the Banking Regulation Act, 1949 has levied a penalty of Rupees one crore on the State Bank of India (SBI) for not monitoring the end use of funds in respect of one of its borrowers.

Ans.8.(c)

Exp. Reserve Bank of India decided to treat deposits to over Rs.2 crore as ‘bulk’ as they doubled the limit for the same from the earlier Rs.1crore. This move will enhance the operational freedom of Banks. According to current RBI rules, last reviewed in January 2013, banks have the option of not permitting premature withdrawals of ‘large rupee term deposits’ of INR 1 crore and above.

Ans.9.(b)

Exp. State-owned power giant NTPC has announced that it has signed a term loan agreement for Rs 5,000 crore with State Bank of India. The loan facility is extended at an interest rate linked to 3-Month MCLR of the Bank. This loan has a door to door tenure of 15 years and will be utilised to part finance the capital expenditure of NTPC.

Ans.10.(a)

Exp. The State Bank of India is an Indian multinational, public sector banking and financial services statutory body. It is a government-owned statutory body headquartered in Mumbai, Maharashtra. Rajnish Kumar is an Indian banker. He is Chairman of the State Bank of India He joined SBI as a Probationary officer in 1980.

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