LIC AAO Banking Awareness Quiz: 14th March

Dear Aspirants,

banking-questions-for-niacl-ao-mains-2018-19

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

NABARD

RBI

SEBI

TRAI

IRDAI

Solution:

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.

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.

15 lakh rupees

10 lakh rupees

5 lakh rupees

6 lakh rupees

3 lakh rupees

Solution:

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.

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

Fino Payments Bank

India Post Payments Bank

Airtel Payments Bank

Jio Payments Bank

Aditya Birla Payments Bank

Solution:

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.

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

Kamal Kishore Singhal

Vandana Kumari Jena

Ajay Vipin Nanavati

Mrutyunjay Mahapatra

Ajay K Khurana

Solution:

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

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

Chennai

New Delhi

Mumbai

Kolkata

Bengaluru

Solution:

The Head Offce of Indian Banks' Association is in Mumbai.

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

Jaipur

Bhopal

Nagpur

Pune

Navi Mumbai

Solution:

The Head Offce of Suryoday Small Finance Bank is in 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.

5 crore

100 crore

20 crore

1 crore

10 crore

Solution:

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.

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?

SBI

FICCI

RBI

NABARD

IRDAI

Solution:

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.

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

Bank of Baroda

State Bank of India

Punjab National Bank

Exim Bank

Union Bank of India

Solution:

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.

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

Rajnish Kumar

Arundhati Bhattacharya

Pratip Chaudhuri

Om Prakash Bhatt

Arun Kumar Purwar

Solution:

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.

Q11. The National Federation of Urban Cooperative Banks and Credit Societies Ltd. (NAFCUB) is an Apex Level Promotional body of Urban Cooperative Banks and Credit Societies Ltd. in the Country. The Federation was registered under the Multi-State Cooperative Societies Act as a Multi State Cooperative Society on-

17th February 1998

17th February 1990

11th February 1982

17th February 1977

26th February 1969

Solution:

The National Federation of Urban Cooperative Banks and Credit Societies Ltd. (NAFCUB) is an Apex Level Promotional body of Urban Cooperative Banks and Credit Societies Ltd. in the Country. Our main objective is to promote the urban cooperative credit movement and protect the interest of the Sector. The Federation was registered under the Multi-State Cooperative Societies Act as a Multi State Cooperative Society on 17th February, 1977.

Q12. MCLR is the minimum interest rate, below which a bank is not permitted to lend. What is the full form of MCLR?

Marginal Cost of Funds based Lending Rate

Marginal Cost of Financial based Lending Rate

Marginal Cost of Funding based Lending Rate

Management Cost of Funds based Lending Rate

Marginal Condition of Funds based Lending Ratio

Solution:

Marginal Cost of Funds based Lending Rate (MCLR) is the minimum interest rate, below which a bank is not permitted to lend.

Q13. Where is the registered office of National Federation of Urban Cooperative Banks and Credit Societies Limited (NAFCUB)?

Mumbai

Shimla

Kolkata

Dehradun

New Delhi

Solution:

Q14. HDFC ERGO General Insurance Company has announced the launch of ?Trip Protector’ insurance policy recently. Where is the Headquarters of HDFC ERGO General Insurance Company?

New Delhi

Chennai

Mumbai

Pune

Lucknow

Solution:

HDFC ERGO General Insurance Company, India’s third-largest non-life insurance provider in the private sector, announced the launch of ?Trip Protector’ insurance policy, a pioneering policy in the non-life insurance segment in India. The Headquarters of HDFC ERGO General Insurance Company is in Mumbai.

Q15. The government has approved recapitalization of Rs 48,239 crore in _______________ public sector banks in this fiscal to help them maintain regulatory capital requirements and finance growth plans.

Solution:

The government has approved recapitalization of Rs 48,239 crore in 12 public sector banks in this fiscal to help them maintain regulatory capital requirements and finance growth plans. The government will infuse over nine thousand crore rupees in Corporation Bank and six thousand 896 crore rupees in Allahabad Bank. Besides, four thousand 638 crore rupees will be provided Bank of India and 205 crore rupees to Bank of Maharashtra. These banks have recently come out of the regulatory supervisory framework PCA of the RBI.