2017-Quiz-5: Current Banking Awareness for Banking Examinations
March 29, 2017 October 27, 2017
1. Who is the current chairman of Bank Board Bureau?
[A] Vinod Rai
[B] N. Gopalaswami
[C] Wajahat Habibullah
[D] Bhanu Pratap Sharma
Show Answer
Correct Answer: D [Bhanu Pratap Sharma]
Notes:
Bhanu Pratap Sharma is the current chairman of the Banks Board Bureau (BBB). The BBB is an autonomous body that was established in 2016 to help with governance reforms in public sector banks. The chairman is the highest authority in the organization.
Sharma has held the position of chairman since 2018. He was previously the Secretary of the Department of Personnel and Training for the Government of India.
2. What is the lock in period for ELSS Investments currently?
[A] 2 years
[B] 3 years
[C] 4 years
[D] 5 years
Show Answer
Correct Answer: B [ 3 years ]
Notes:
Every investment permitted under Section 80C comes with a mandatory lock-in period. ELSS investments come with a lock-in period of three years which is lowest among Section 80C investments. Public Provident Fund (PPF) and National Savings Certificate (NSC), traditional favourites, come with longer lock-in period. PPF is essentially a 15-year product, whereas NSC has a lock-in period of five years.
3. Which of the following has become the first bank to launch the biometric-based payment system Aadhaar Pay through its network?
[A] HDFC Bank
[B] IDFC Bank
[C] ICICI Bank
[D] State Bank of India
Show Answer
Correct Answer: B [ IDFC Bank ]
Notes:
IDFC has become the first bank to launch the biometric-based payment system Aadhaar Pay through its network
4. The stocks of which of the following banks are not considered for calculation of “Bank NIFTY”?
[A] Kotak Mahindra Bank
[B] Punjab National Bank
[C] Yes Bank
[D] Bank of India
Show Answer
Correct Answer: D [ Bank of India ]
Notes:
The Bank Index commonly known as “NIFTY BANK” or “Bank NIFTY” was launched by India Index Service and Product Limited (IISL) in the year 2000. The index has 12 most liquid and large capitalised stocks from the banking sector which trade on the National Stock Exchange (NSE). It provides investors and market intermediaries a benchmark that captures the capital market performance of Indian Banking sector. At present (June, 2018) , these banks include HDFC Bank, Kotak bank, State Bank Of India, ICICI Bank, Axis Bank, INDUSIND Bank, Yes Bank, Bank of Baroda, RBL Bank, Punjab National Bank And Federal Bank.
5. Recently, the Cabinet has approved merge of 5 associate banks of SBI with the parent bank SBI. What will be the approximate market share of the banking giant produced via this merger?
[A] 10%
[B] 15%
[C] 20%
[D] 25%
Show Answer
Correct Answer: D [ 25% ]
Notes:
Union Cabinet has approved the proposal for merger of State Bank of Bikaner & Jaipur (SBBJ), State Bank of Patiala (SBP), State Bank of Mysore (SBM), State Bank of Travancore (SBT), and State Bank of Hyderabad (SBH) with the parent, State Bank of India. This merger will create a banking giant, having 1/4 of market share in India’s banking sector (in terms of loans and deposits), with an asset base of about Rs 40 lakh crore from Rs 23 lakh crore.
6. What is the number of members in the Monetary Policy Committee (MPC)?
Show Answer
Correct Answer: C [ 6 ]
Notes:
Monetary Policy Committee (MPC) committee comprises six members – three officials of the Reserve Bank of India and three external members nominated by the Government of India.
7. Which of the following rates is used by banks in India as a reference to price the rupee loans and advances?
[A] Bank Rate
[B] Base Rate
[C] MCLR Rate
[D] Repo Rate
Show Answer
Correct Answer: C [ MCLR Rate ]
Notes:
As per RBI guidelines, all rupee loans & advances disbursed and credit limits renewed from 9/2/2017 onwards are to be priced with reference to the above MCLR rates.
8. Which of the following recently launched Small Finance Bank in India has its tagline “A Bank of Smiles”?
[A] Ujjivan Small Finance Bank
[B] Suryoday Small Finance Bank
[C] Janalakshmi Small Finance Bank
[D] Utkarsh Small Finance Bank
Show Answer
Correct Answer: B [ Suryoday Small Finance Bank ]
Notes:
Suryoday Small Finance Bank with its tagline “A Bank of Smiles”, has recently launched its first branch in Belapur, Navi Mumbai.
9. Which of the following banks has recently started Mission FINFIT?
[A] Andhra Bank
[B] Punjab National Bank
[C] Lakshmi Vilas Bank
[D] Kotak Mahindra Bank
Show Answer
Correct Answer: C [ Lakshmi Vilas Bank ]
Notes:
Private sector Lakshmi Vilas Bank has tied up with Fisdom, a fin-tech startup to launch a financial planning platform called Mission FINFIT for personal wealth management services based on Robo advisory.
10. Which of the following banks have recently launched it work from home facility for its employees?
[A] ICICI Bank
[B] State Bank of India
[C] Bank of Baroda
[D] Punjab National Bank
Show Answer
Correct Answer: B [ State Bank of India ]
Notes:
State Bank of India has launched a new work from home facility for its employees. The board of the bank has approved the plan whereby its employees can work from home using mobile devices.
Ravi Verma
March 29, 2017 at 2:30 pmthank u