LIC AAO Banking Awareness Quiz: 18th 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. The mission of the OECD is to promote policies that will improve the economic and social well-being of people around the world. What is the full form of OECD?

Organisation for Economic Co-operation and Dividend

Organisation for Economic Chamber and Development

Organisation for Economic Council and Development

Organisation for Economic Co-operation and Department

Organisation for Economic Co-operation and Development

Solution:

The mission of the Organisation for Economic Co-operation and Development (OECD) is to promote policies that will improve the economic and social well-being of people around the world.

Q2. For the first time, which organisation has decided to use a new tool to enhance liquidity in the system by bringing $5 billion from the banks in a swap deal that is capable of injecting around Rs. 35,000 crores into the system?

Securities and Exchange Board of India

Reserve Bank of India

National Bank for Agriculture and Rural Development

Insurance Regulatory and Development Authority of India

Telecom Regulatory Authority of India

Solution:

The Reserve Bank of India (RBI) has decided to use a new tool for the first time to enhance liquidity in the system using which it will buy $5 billion from the banks in a swap deal that is capable of injecting around Rs. 35,000 crores into the system.

Q3. Fitch Ratings cut India’s economic growth forecast for the current financial year starting 01st April 2019, to ___________ from its previous estimate of 7.00% on weaker than expected momentum in the economy.

6.30%

6.50%

6.70%

6.80%

6.20%

Solution:

Fitch Ratings cut India’s economic growth forecast for the current financial year starting 01st April 2019, to 6.8% from its previous estimate of 7%, on weaker than expected momentum in the economy.

Q4. The RBI in consultation with the government of India has set the limits for WMA for the first half of the financial year 2019-20 (April 2019 to September 2019) at Rs 75000 crore. What is the full form of WMA?

Ways and Means Advances

Ways and Means Account

Ways and Means Amount

Ways and Means Assets

Ways and Means Annual

Solution:

The Reserve Bank of India (RBI) in consultation with the government of India has set the limits for Ways and Means Advances (WMA) for the first half of the financial year 2019-20 (April 2019 to September 2019) at Rs 75000 crore. The Reserve Bank may trigger fresh floatation of market loans when the Government of India utilizes 75% of the WMA limit.

Q5. As per the World Bank, India’s GDP growth is expected to accelerate moderately to _____________ in Fiscal Year 2019-2020, driven by continued investment strengthening, particularly private-improved export performance and resilient consumption.

7.7%

7.9%

7.5%

7.8%

7.6%

Solution:

As per the World Bank, India’s GDP growth is expected to accelerate moderately to 7.5% in Fiscal Year 2019-2020, driven by continued investment strengthening, particularly private-improved export performance and resilient consumption.

Q6. The government has retained the interest rate for General Provident Fund (GPF), Contributory Provident Fund and other related schemes at ____________ per cent for the first quarter of the current financial year.

8.00%

8.50%

7.50%

9.00%

7.00%

Solution:

The government has retained the interest rate for General Provident Fund (GPF), Contributory Provident Fund and other related schemes at 8.00% (percent) for the first quarter of the current financial year.

Q7. Which organisation has inked an agreement to invest USD 50 million in solar energy project developer Avaada Energy Pvt Ltd to help the company scale up rapidly?

International Bank for Reconstruction and Development

Asian Development Bank

International Monetary Fund

Association of Southeast Asian Nations

Asian Infrastructure Investment Bank

Solution:

Asian Development Bank (ADB) has inked an agreement to invest USD 50 million in solar energy project developer Avaada Energy Pvt Ltd to help the company scale up rapidly.

Q8. State-run power giant National Thermal Power Corporation has inked a term-loan agreement with _______________ to raise Rs 2,000 crore, which would be used to part finance its capital expenditure.

HDFC Bank

Bank of Baroda

Canara Bank

Punjab National Bank

State Bank of India

Solution:

State-run power giant National Thermal Power Corporation has inked a term-loan agreement with Canara Bank to raise Rs 2,000 crore, which would be used to part finance its capital expenditure. The loan has a door to door tenure of 15 years and will be utilised to part finance the capital expenditure of the NTPC.

Q9. The BSE has signed a memorandum of understanding (MoU) with __________________ with an objective to strengthen the BSE Startups platform.

Punjab National Bank

Bank of Baroda

Canara Bank

HDFC Bank

State Bank of India

Solution:

The BSE has signed a memorandum of understanding (MoU) with HDFC Bank with an objective to strengthen the BSE Startups platform. The MoU has been signed to spread more awareness on the benefits of the listing of startups on this BSE startup platform.

Q10. In a bid to further improve the cash position of banks, RBI has tweaked LCR norms to provide an additional 2% window to lenders. What is the full form of LCR?

Lender Coverage Ratio

Liquidity Cash Ratio

Liquidity Common Ratio

Liquidity Coverage Rate

Liquidity Coverage Ratio

Solution:

In a bid to further improve the cash position of banks, RBI has tweaked Liquidity Coverage Ratio (LCR) norms to provide an additional 2% window to lenders. As per RBI Governor Shaktikanta Das, this move will harmonise the liquidity requirements of banks and release additional money for lending.

Q11. Which of the following Bank has entered into an MoU with Bharti AXA Life Insurance Company to distribute the latter’s life insurance products recently?

Yes Bank

Kotak Mahindra Bank

Karnataka Bank

South Indian Bank

HDFC Bank

Solution:

Karnataka Bank has entered into an MoU with Bharti AXA Life Insurance Company to distribute the latter’s life insurance products. The bank will be able to provide a wide choice of life insurance products to its customers across 836 branches, supported by the products of Bharti AXA Life Insurance Company.

Q12. The board of Lakshmi Vilas Bank (LVB) approved the merger of the private sector lender with Indiabulls Housing Finance (IBH) through a share swap deal. Lakshmi Vilas Bank based in-

Cochin

Thiruvananthapuram

Mumbai

Bengaluru

Chennai

Solution:

The board of Lakshmi Vilas Bank (LVB) approved the merger of the private sector lender with Indiabulls Housing Finance (IBH) through a share swap deal. The merger will help Indiabulls get access to low-cost stable funds and entry into banking. Lakshmi Vilas Bank based in Chennai.

Q13. Emirates Islamic Bank has announced the launch of Chat Banking services for customers via WhatsApp, marking a global first in the Islamic banking sector. Where is the head office of Emirates Islamic Bank?

Dubai

Abu Dhabi

Doha

Muscat

Manama

Solution:

Emirates Islamic Bank has announced the launch of Chat Banking services for customers via WhatsApp, marking a global first in the Islamic banking sector. The bank’s customers will now able to conduct daily banking activities via WhatsApp in a seamless and hassle-free manner. The Headoffice of Emirates Islamic Bank is in Dubai.

Q14. The Reserve Bank of India came out with guidelines for banks to set up new currency chests, which include a minimum area of 1,500 square feet for strong room. The new chests should have a processing a capacity of ________________ lakh pieces of banknotes per day.

7.8 lakh pieces

4.2 lakh pieces

5.3 lakh pieces

6.6 lakh pieces

15.9 lakh pieces

Solution:

The Reserve Bank of India came out with guidelines for banks to set up new currency chests, which include a minimum area of 1,500 square feet for strong room. The new chests should have a processing a capacity of 6.6 lakh pieces of banknotes per day. The currency chests should have CBL of Rs 1,000 crore, subject to ground realities and reasonable restrictions, at the discretion of the Reserve Bank.

Q15. Which of the following Bank has partnered with credit profiler CreditVidya to improve the lender’s customer experience recently?

Yes Bank

RBL Bank

Karnataka Bank

South Indian Bank

HDFC Bank

Solution:

RBL Bank has partnered with credit profiler CreditVidya to improve the lender’s customer experience. Through this partnership, the private sector lender will be able to gain significant insights into its customer base. By acquiring richer customer insights, RBL will be able to segment its customers better, offer them relevant credit products and build custom scorecards.

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