Banking Awareness Quiz For SBI PO 2017 - With Explanations

Banking Awareness Quiz For SBI PO 2017
(1). Which of the following Statements is correct regarding 'The Banking Ombudsman'?
(a) The Banking Ombudsman does not charge any fee.
(b) The maximum compensation which a complainant can get under Banking Ombudsman Scheme is 1 crore.
(c) RRBs are not covered under Banking Ombudsman.
(d) Scheduled Primary Co-operative Banks are not covered under Banking Ombudsman.


(2). Which Government Institution/Ministry is the agent of Government of India in the 'International Monetary Fund (IMF)'?
(a) Finance Ministry
(b) Prime Minister's Office
(c) Reserve Bank of India(RBI)
(d) NITI Aayog 

(3). Which International Organisation/Organisations is/are popularly known as Bretton Woods Twins?
(a) World Bank
(b) OPEC
(c) The International Monetary Fund (IMF)
(d) Both (a) and (c) 

(4). Loans of which International Organization is known as 'Credits'?
(a) The International Monetary Fund (IMF)
(b) International Finance Corporation (IFC)
(c) International Bank for Reconstruction and Development (IBRD)
(d) International Development Agency(IDA) 


(5). What is 'C' stand for in the MCLR which is term introduced by RBI some time ago?
(a) Check
(b) Cost
(c) Credit
(d) Cross 


(6). Which country has the largest shareholding in the 'International Bank for Reconstruction and Development (IBRD)'?
(a) USA
(b) France
(c) Japan
(d) England 


(7). Which Public Sector Bank has launched Credit Cards for all of its account holders who have a minimum account balance of Rs.20000?
(a) Punjab and Sindh Bank
(b) State Bank of India
(c) Punjab National Bank
(d) Syndicate Bank 


(8). What is the minimum net owned fund (NOF) of Non-Banking Finance Companies(NBFCs) in India?
(a) Rs. 1 Crore
(b) Rs. 8 Crore
(c) Rs. 2 Crore
(d) Rs. 4 Crore 


(9). Which of the following is not a Credit Rating Agency in India?
(a) Standard and Poors (S&P)
(b) CRISIL
(c) ICRA
(d) ONICRA 


(10). Which of the following Government Scheme was implemented to attain Financing Inclusion in the India?
(a) Jan Dhan Yojana
(b) JAM Trinity
(c) PAHAL
(d) Ujwal DISCOM Assurance Yojana 


Explanations

(1). Answer Key: (a)
All Scheduled Commercial Banks, Regional Rural Banks & Scheduled Primary Co-operative Banks are covered under the Scheme. The Banking Ombudsman is a senior official appointed by the Reserve Bank of India to redress customer complaints.

(2). Answer key: (c)
RBI is the agent of Indian Government in The International Monetary Fund (IMF).

(3). Answer key: (d)
The IMF and the World bank are known as Bretton Woods Twins. They both have their Headquarters in Washington, DC.

(4). Answer Key: (d)
IDA is also known as soft window of the World Bank, it was established in 1960. Its basic aim is to give infrastructural support to the member countries. It provides long-term interest-free loans for the development of economic services.

(5). Answer Key: (b)
As per the new guidelines by the RBI, banks have to prepare Marginal Cost of Funds based Lending Rate (MCLR). Based upon this MCLR, interest rate for different types of customers should be fixed in accordance with their riskiness.

(6). Answer Key: (a)
The five largest of IBRD’s shareholders are
The United States of America(with 16.63% of the total voting power),
Japan (7.19%),
China (4.64%),
Germany (4.21%), and
France and the United Kingdom (with 3.94% each)
For further reading about IBRD, you can go through our previous article on IBRD.
Link: http://www.bankexamstoday.com/2016/12/international-bank-for-reconstruction.html

(7). Answer Key: (b)
State Bank of India (SBI) has made an offer to issue credit cards to all of its account holders who have a minimum account balance of Rs.20000 without considering their credit history. This credit card has been named as “Unnati”.

(8). Answer Key: (c)
NBFCs in India should have a minimum net owned fund (NOF) of Rs. 2 crore. It can accept public deposits maximum upto 4 times of Net owned fund i.e. 2 crore.

(9). Answer Key: (a)
Standard and Poors (S&P) is an US based Credit Rating Agency.

(10). Answer Key: (a)
Financial inclusion is the delivery of financial or Banking services at affordable costs to sections of disadvantaged and low-income segments of society, in contrast to financial exclusion where those services are not available or affordable.
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