Banking Knowledge / Financial Awareness 2018

1) Which is the most expensive city in the world, according to the World Cost of Living Survey , 2018?
a) Singapore
b) Mumbai
c) New Delhi
d) Kolkata
e) Patna
Answer :   A

2) For 'Sovereign Gold Bond Scheme 2018-19 Series-I' which documents can be used for identification purpose ?
a) passport
b) Permanent Account Number (PAN) Card
c)Voter's Identity Card
d) Aadhaar card
e) All the above
Answer :   E

3) What is Sovereign Gold Bond (SGB)? Who is the issuer?
a) SGBs are government securities denominated in grams of gold.
b) They are substitutes for holding physical gold. Investors have to pay the issue price in cash and the bonds will be redeemed in cash on maturity.
c) The Bond is issued by Reserve Bank on behalf of Government of India.
d) All the above
e) None of these
Answer :   D

4) Why should people buy SGB rather than physical gold? What are the benefits?
a) The quantity of gold for which the investor pays is protected, since he receives the ongoing market price at the time of redemption/ premature redemption.
b) The SGB offers a superior alternative to holding gold in physical form.
c) The risks and costs of storage are eliminated. Investors are assured of the market value of gold at the time of maturity and periodical interest. SGB is free from issues like making charges and purity in the case of gold in jewellery form.
d) The bonds are held in the books of the RBI or in demat form eliminating risk of loss of scrip etc.
e) All the above
Answer :   E

5) Who are eligible to invest in the SGBs?
a) Persons resident in India as defined under Foreign Exchange Management Act, 1999 are eligible to invest in SGB. Eligible investors include.
b) Individuals, Hindu Undivided Familities (HUFs)
c) Trusts, universities
d) Charitable institutions
e) All the above
Answer :   E

6) What is the minimum and maximum limit for investment?
a) Minimum investment in the Bond shall be one gram (gold) with a maximum limit of subscription of 4 kg (gold) for individuals
b) 4 kg (gold) for Hindu Undivided Family (HUF) and 20 kg (gold) for trusts
c) Both (a) & (b)
d) 50 Kg gold
e) 70 Kg gold
Answer :   C

7) RBI had constituted which Committee on Currency Movement (CCM) to review the entire gamut of security of the treasure in transit.? Give details.
a) Shri D.K. Mohanty, Chairman
b) The recommendations of the Committee have been examined and in order to mitigate risks involved in open cash replenishment/ top-up, it is advised that banks may consider using lockable cassettes in their ATMs which shall be swapped at the time of cash replenishment
c) Both (a) & (b)
d) Only Rs.1000 notes should be used
e) None of these
Answer :   C

8) Keeping in view the importance of ensuring the safety and soundness of financial institutions in general, it has been decided to selectively extend elements of the Basel III capital framework to the which AIFIs, with effect from April 1, 2018 ?
a) EXIM Bank
b) NHB
c) NABARD
d) SIDBI
e) All the above
Answer :   E

9) Who is the new Governor of the People's Bank of China, Central Bank of China ?
a) Xi Jinping
b) Yi Gang
c) Wen Jiabao
d) Gina Haspel
e) None of these
Answer :   B

10) Which private sector bank brought its Initial Public Offering (IPO) recently?
a) Yes Bank
b) Bandhan Bank
c) Airtel Payments Bank
d) Jio Payments Bank
e) None of these
Answer :   B

11) Which mega health care scheme is approved by the Union Cabinet recently?
a) SSA
b) Ayushman Bharat - National Health Protection Mission / Scheme
c) NUHM
d)NRHM
e) None of these
Answer :   B

12) The city where a two day G20 Finance Ministers and Central Bank Governors meeting was held recently ?
a) Tokyo
b) Buenos Aires, Argentina
c) Beijing
d) Jakarta
e) None of these
Answer :   B

13)The bank which has launched 'Mission Parivartan' to check loan slippages and frauds ?
a) SBI
b) Punjab National Bank
c) Allahabad Bank
d) Indian Bank
e) None of these
Answer :   B

14) What are the objectives of NEFT ?
a) Reliable /expeditious /economical / secure / efficient transfer of funds
b) Relieve stress of paper based transfer and clearing system
c) Both (a) & (b)
d) payments in cash
e) None of these
Answer :   C

15) In which PSU the government divested 10% stake through IPO Rs.42.30 billion?
a) BHEL
b) HAL
c) BEML
d) Antrix
e) None of these
Answer :   B

16) India's position among 114 countries on the WEF energy transition index?
a) 23rd
b) 78th
c) 25th
d) 50th
e) None of these
Answer :   B

17) Which state has declared Jackfruit as its official fruit ?
a) Kerala
b) MP
c) Chattisgarh
d) Jarhand
e) None of these
Answer :   A

18) How much Line of Credit is announced by India to Mauritius recently ?
a) USD 10 mn
b) USD 100 mn
c) USD 500 mn
d) USD 400 mn
e) None of these
Answer :   B

19) Which bank has launched instant overdraft 'InstaOD' facility for MSME customers?
a) Andhra Bank
b) ICICI Bank
c) Oriental Bank of Commerce
d) IOB
e) None of these
Answer :   B

20) How much additional amount was sought by central government from RBI over the Rs.306.59 billion surplus fund it transferred for the fiscal year ended June,2017 ?
a) Rs.130 billion
b) Rs.230 billion
c) Rs.300 billion
d) Rs.400 billion
e) None of these
Answer :   A

21)Which of the following is the first country to issue its own sovereign cryptocurrency recently ?
a) Marshall Islands
b) Maldives
c) Malaysia
d) Indonesia
e) None of these
Answer :   A

22) What is the colour of the new card for children below the age of 5 years launched by UIDAI ?
a) Blue
b) White
c) Red
d) Orange
e) None of these
Answer :   A

23) Where is the headquarters of Suryoday Small Finance Bank, which is working on setting up temporary overdraft limits for them so that they don't skip such payments and end up paying late fees ?
a) Navi Mumbai
b) Bhopal
c) Indore
d) Kolkata
e) None of these
Answer :   A

24) UK discontinued which currency note (old Paper) , featuring British naturalist Charles Darwin ?
a) 1 British pound
b) 10 British pounds
c) 20 British pounds
d) 50 British pounds
e) None of these
Answer :   B

25) The investment in State Government Stocks will be reckoned as an eligible investment in Government Securities by banks for the purpose of ______ under Section 24 of the Banking Regulation Act, 1949.
a) Repo Rate
b) Statutory Liquidity Ratio (SLR)
c) Reverse Repo Rate
d) MSF
e) None of these
Answer :   B

26) SIDBI Foundation for Micro Credit (SFMC) was launched by SIDBI in ____ for channelizing funds to the poor in line with the success of pilot phase of Micro Credit Scheme.
a) January 1999
b) 2000
c) 2001
d) 2004
e) None of these
Answer :   A

27) Through whom Global Environment Facility (GEF) and the World Bank are implementing a new initiative on financing Energy Efficiency (EE) in MSME Clusters in India to improve EE and reduce Green House Gas (GHG) emissions from MSMEs utilizing increased commercial financing for EE ?
a) Federal Bank
b) SIDBI and BEE
c) NHB
d) NABARD
e) None of these
Answer :   B

28) Micro, Small and Medium enterprises (MSME) sectorcontributes around 45 percent to manufacturing output and about ___ percent of exports (directly and indirectly).
a) 20
b) 40
c) 5
d) 15
e) None of these
Answer :   B

29) CGTMSE (Credit Guaranee Fund Trust for Micro and Small Enterprises )was set up in 2000 by Ministry of Micro, Small and Medium Enterprises, Government of India (GoI) and SIDBI with a committed corpus of INR _____ crore to facilitate credit guarantee support to collateral free / third-party guarantee-free loans to the Micro and Small enterprises, who are generally considered to be a high risk lending, especially in the absence of collateral.
a) 500
b) 2500
c) 200
d) 300
e) None of these
Answer :   B

30) CGTMSE introduced the Credit Guarantee Scheme (CGS) for Micro and Small Enterprises (MSEs) which guarantees credit facilities up to INR ____ lakh on automated digital platform, extended by Member Lending Institutions (MLIs) to those MSE loans, which are not backed by collateral security and / or third-party guarantees.
a) 200
b) 50
c) 20
d) 30
e) None of these
Answer :   A

31) Who are eligible for support by SIDBI under the MSE Refinance Scheme (MSERS) ?
a) Scheduled Banks (including State Cooperative Banks, Urban Co-operative Banks
b) Private Sector Banks, and Foreign Banks etc.
c) Select Financial Institutions are eligible for support by SIDBI
d) Regional Rural Banks
e) All the above
Answer :   E

32) Who are eligible for SIDBI Foundation for Micro Credit (SFMC)?
a) Registered entities including Societies/ Trusts/ Companies/.
b) Section 8 Companies/NBFC-MFIs/
c) Banks as well as national/ state level institutions set up exclusively for providing financial assistance to vulnerable/ underprivileged sections of the society
d) All the above
e) None of these
Answer :   D

33) Who are the parties to the NEFT system ?
a) Sending bank/sending service centre
b) NEFT clearing centre
c) Receiving service centre
d) Beneficiary branch
e) All the above
Answer :   E

34) What is Debit card ?
a) It is a mobile purse
b) Automatically debits card holder's account
c) Allows withdrawal up to credit balance in the account
d) All the above
e) None of these
Answer :   D

35) What are the main components in mobile transaction architecture?
a) User: means client requesting for service
b) Device : means mobile - device which connects the client
c) Mobile transaction provider : means cellular operator or a bank or a combination of both
d) All the above
e) None of these

Answer :   D