Banking Awareness Questions for IBPS PO and Clerk | 31st October 2018

Dear Aspirants,

Banking Awareness for IBPS PO and Clerk Exam 2018

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 organization has launched its $1 billion masala bond programme in the US and Europe recently?

Multilateral Investment Guarantee Agency

International Finance Corporation

International Bank for Reconstruction and Development

International Development Association

International Centre for Settlement of Investment Disputes

Solution:

IFC or International Finance Corporation, the World Bank’s lending arm, has launched its $1 billion masala bond programme in the US and Europe. These bonds are aimed at funding the rapidly expanding investment activities of IFC in India.

Q2. The CBDT has released time-series data as updated up to FY 2017-18 and income-distribution data for AY 2016-17 and AY 2017-18. The number of persons filing return of income has also increased during this period from 3.31 crore in FY 2013-14 to _________________ crore in FY 2017-18.

14.18 crore

17.44 crore

08.23 crore

06.76 crore

05.44 crore

Solution:

Continuing the practice of placing key statistics relating to direct tax collections and administration in public domain, the Central Board of Direct Taxes (CBDT) has further released time-series data as updated up to FY 2017-18 and income-distribution data for AY 2016-17 and AY 2017-18. The number of persons filing return of income has also increased by about 65% during this period from 3.31 crore in FY 2013-14 to 5.44 crore in FY 2017-18.

Q3. The RBI will inject ____________________ crore in the banking system in November 2018 via Open market operation (OMO).

Rs 40,000 crore

Rs 10,000 crore

Rs 50,000 crore

Rs 20,000 crore

Rs 30,000 crore

Solution:

The Reserve Bank of India will inject Rs 40,000 crore in the banking system next month (November 2018), a move that will help ease cash shortage in the system and stabilise debt market rates. Based on an assessment of the durable liquidity needs going forward, RBI has decided to conduct purchase of government securities under open market operations for an aggregate amount of Rs400 billion in the month of November 2018.

Q4. State Bank of India has slashed the daily withdrawal limit on its classic debit card from Rs 40,000 to-

Rs 25,000

Rs 30,000

Rs 10,000

Rs 20,000

Rs 15,000

Solution:

State Bank of India has slashed the daily withdrawal limit on its classic debit card from Rs 40,000 to Rs 20,000. There is no change in the daily withdrawal limits on other cards. The new limit effective from 31st October 2018.

Q5. Which organisation/Bank had launched a National Level Entrepreneurship Awareness Campaign, "Udyam Abhilasha" in 115 Aspirational Districts identified by NITI Aayog in 28 States and reaching to around 15,000 youth?

NABARD

RBI

SIDBI

IRDAI

SEBI

Solution:

On the occasion of Birth Anniversary of Mahatma Gandhi, Small Industries Development Bank of India (SIDBI), had launched a National Level Entrepreneurship Awareness Campaign, Udyam Abhilasha in 115 Aspirational Districts identified by NITI Aayog in 28 States and reaching to around 15,000 youth.

Q6. The RBI has imposed a penalty of Rs 5 crore on Karur Vysya Bank for non-compliance of its directives. According to RBI statement, the penalty was imposed for non-compliance with its directions on IRAC norms. What is the full form of IRAC?

Income Regional and Asset Common

Interest Recognition and Asset Classification

Income Recognition and Agency Classification

Income Recognition and Asset Collection

Income Recognition and Asset Classification

Solution:

The Reserve Bank of India has imposed a penalty of Rs 5 crore on Karur Vysya Bank for non-compliance of its directives. According to RBI statement, the penalty was imposed for non-compliance with its directions on "Income Recognition and Asset Classification (IRAC) norms, reporting of frauds, and on the need for discipline at the time of opening of current accounts".

Q7. The Reserve Bank of India issued guidelines for operating ETPs to transact in eligible instruments. ETPs stand for-

Electronic Ticket Platforms

Essential Trading Plus

Electronic Timely Platforms

Electronic Trading Platforms

Electronic Transfer Platforms

Solution:

The Reserve Bank of India issued guidelines for operating Electronic Trading Platforms (ETPs) to transact in eligible instruments. Trading on electronic platforms is being encouraged across the world as it enhances pricing transparency, processing efficiency and risk control.

Q8. Which Bank has decided to increase the Refinance Limit from Rs.24,000 crore to Rs.30,000 crore for the Current Year (July 2018-June 2019) towards refinancing eligible institutions?

India Post Payments Bank

State Bank of India

National Housing Bank

Export–Import Bank of India

Reserve Bank of India

Solution:

National Housing Bank (NHB) has decided to increase the Refinance Limit from Rs. 24,000 crore to Rs.30,000 crore for the Current Year (July 2018-June 2019) towards refinancing eligible institutions. Now, eligible Housing Finance Companies & Other entities will have increased availability of funds.

Q9. Who has taken charge as the managing director and chief executive officer of IDBI Bank?

SS Mundra

Rakesh Sharma

B Sriram

Satish Kumar Gupta

Nimesh Shah

Solution:

State-run IDBI Bank has announced that Rakesh Sharma has taken charge as the managing director and chief executive officer of the bank. He has replaced B Sriram.

Q10. Which Bank has signed an MoU with Kathmandu-based National Banking Institute (NBI) for the development of human resources of the latter?

SBI

PNB

BOB

RBI

OBC

Solution:

State Bank of India has signed an MoU with Kathmandu-based National Banking Institute (NBI) for the development of human resources of the latter. Under the MoU, the strategic training unit of SBI will impart education, training and development to facilitate transformation of NBI's HR department.