Banking Awareness 28th August 2019: Updates Quiz

Banking Awareness 28th August 2019: Daily Banking Awareness quiz is playing a major role in any competitive exam. so here we are providing the current affairs quiz on daily basis for Bank, SSC & Railway Exams you can also read previous quizzes from Here

Q1. NPA is a loan or an advance where interest and/or installment of principal remain overdue for a period of more than ______ days in respect of a term loan.

(a) 100 days

(b) 30 days

(c) 90 days

(d) 60 days

(e) 120 days

Answer & Explanation
Ans.1.(c)

Exp. A non ­performing asset (NPA) is a loan or an advance where interest and/or installment of principal remain overdue for a period of more than 90 days in respect of a term loan.

Q2. The World Bank retained its forecast of India’s growth rate at _______________ for the current financial Year 2019-20.

(a) 7.1%

(b) 7.3%

(c) 7.5%

(d) 7.7%

(e) None of these

Answer & Explanation
Ans.2.(c)

Exp. The World Bank has retained its forecast of India’s growth rate at 7.5% for the current financial year.

In its Global Economic Prospects report, the World Bank also said growth rate is expected to remain the same for the next two fiscals.

“In India, growth is projected at 7.5 per cent in FY2019/20 (April 1, 2019 to March 31, 2020), unchanged from the previous forecast, and to stay at this pace through the next two fiscal years,” the World Bank said in its report.

Q3. What is the financial limit Under MUDRA’s Shishu scheme?

(a) Rs. 5, 00,000

(b) Rs. 50,000

(c) Rs. 1, 00,000

(d) Rs. 10,000

(e) Rs. 1, 50,000

Answer & Explanation
Ans.3.(b)

Exp. Under the aegis of Pradhan Mantri MUDRA Yojana (PMMY), MUDRA has already created its initial products/schemes. The interventions have been named ‘Shishu’, ‘Kishor’ and ‘Tarun’ to signify the stage of growth/development and funding needs of the beneficiary micro unit / entrepreneur and also to provide a reference point for the next phase of graduation / growth to look forward to. The financial limit for these schemes is:-

(a) Shishu:- covering loans up to  50,000/-

(b) Kishor:- covering loans above  50,000/- and up to  5 lakh

(c) Tarun:- covering loans above  5 lakh to  10 lakh

Q4. With effect from March 31, 2005, an asset would be classified as _____________ if it has remained in the sub­standard category for a period of 12 months.

(a) Sub­standard Assets

(b) Profit Assets

(c) Doubtful Assets

(d) Loss Assets

(e) None of the above

Answer & Explanation
Ans.4.(c)

Exp. With effect from March 31, 2005, an asset would be classified as doubtful if it has remained in the sub­standard category for a period of 12 months. A loan classified as doubtful has all the weaknesses inherent in assets that were classified as sub­standard, with the added characteristic that the weaknesses make collection or liquidation in full,– on the basis of currently known facts, conditions and values – highly questionable and improbable.

Q5. Which of the following bank has launched ‘Kisan Suvidha loan’ for small and marginal farmers?

(a) Equitas Small Finance Bank

(b) Ujjivan Small Finance Bank

(c) Utkarsh Small Finance Bank

(d) Disha Small Finance Bank

(e) ESAF Small Finance Bank

Answer & Explanation
Ans.5.(b)

Exp. Kisan Suvidha loan’ for small and marginal farmers has been launched by Ujjivan Small Finance Bank. The scheme will attempt to reach the bottom of the pyramid with products and services.

Kisan Suvidha loan can be used by farmers for both agriculture and allied activities. The product is specially designed to cater to the needs of customers for various allied and agricultural activities. It provides loans to individuals with an amount ranging from Rs. 60000 to Rs. 2 Lakh to fulfill the customized needs of the mass market segment.

Q6. Aegis Graham Bell Award 2018 announced ______ as the winner in ‘Innovation in Data Science’ category?

(a) Yes bank

(b) Dena bank

(c) UCO bank

(d) BoI

(e) None of these

Answer & Explanation
Ans.6.(a)

Exp. Aegis Graham Bell Award 2018 announced Yes Bank as the winner in ‘Innovation in Data Science’ category for their industry-first project ‘Yes EEE (Engage Enrich Excel)’ at Panaji, Goa.

Q7. Which Bank has rolled out the first US bank cryptocurrency?

(a) Citigroup

(b) Goldman Sachs

(c) Wells Fargo

(d) Bank of America

(e) JP Morgan

Answer & Explanation
Ans.7.(e)

Exp.New York-based investment bank JP Morgan Chase launched the first-ever major cryptocurrency backed by a U.S. bank. The digital token, dubbed “JPM Coin,” will be used to “instantly settle payments between clients.

Q8. DRT has been constituted under Section 3 of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993. DRT stands for-

(a) Debt Recovery Tribunals

(b) Demand Recovery Tribunals

(c) Deposit Recovery Tribunals

(d) Debt Refinance Tribunals

(e) Debt Recovery Treaty

Answer & Explanation
Ans.8.(a)

Exp. DRTs stands for Debt Recovery Tribunals.

Q9. Which bank has secured the top spot among all public sector banks in the implementation of ‘Reforms agenda’ according to BCG-IBA Report– EASE Reforms for Public Sector Banks?

(a) Punjab National Bank

(b) Bank of Baroda

(c) State Bank of India

(d) United Bank of India

(e) Bank of India

Answer & Explanation
Ans.9.(a)

Exp. According to BCG-IBA Report – EASE Reforms for Public Sector Banks, released by Union Minister of Finance & Corporate Affairs, Punjab National Bank (PNB) secured the top spot among all public sector banks in the implementation of ‘Reforms agenda’.

PNB which topped the list with a score of 78.4 out of 100 in the EASE-index was followed by BoB (77.8), SBI (74.6), and Oriental Bank of Commerce (69).

The EASE (Enhanced Access and Service Excellence) report has shown significant enhancement in PSB performance on the back of Government’s 4R’s strategy- recognition, recovery, recapitalisation and reforms. The index has measured Banks on 140 objective metrics across 6 themes including customer responsiveness, credit off-take and digitalization.

Q10. Markets regulator Securities and Exchange Board of India (SEBI) withdrew the _____limit on investments by Foreign Portfolio Investors in corporate bonds of an entity.

(a) 25%

(b) 20%

(c) 74%

(d) 49%

(e) 10%

Answer & Explanation
Ans.10.(b)

Exp. Markets regulator SEBI withdrew the 20 per cent limit on investments by Foreign Portfolio Investors in corporate bonds of an entity.

In a notification, the regulator said the restriction is being withdrawn in accordance with a circular issued by the Reserve Bank of India (RBI).

In June last year, the Securities and Exchange Board of India (SEBI) had mandated that no Foreign Portfolio Investors (FPIs) shall have an exposure of more than 20 per cent of its corporate bond portfolio to a single corporate.

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