Current Banking Awareness Quiz Set – 12

Hello Aspirants. Welcome to Banking Awareness Quiz in AffairsCloud.com. Here we are creating quiz covering important questions which are common for all the bank exams and other competitive exams.

1. Which bank launched host of digital banking solutions including green PIN and enhancement of its mobile app?
   A. HDFC
   B. PNB
   C. SBI
   D. ICICI
   
   Answer & Explanation

   B. PNB
   Explanation:Green PIN facility under which customer can obtain duplicate PIN for debit card instantly through SMS request. The bank will provide customer SMS based facility to block and unblock Internet banking and mobile banking.
   PNB MD Usha Ananthasubramanian
   
   
2. PAN will be mandatory for cash transactions such as hotel or foreign travel bills exceeding _______ .
   A. Rs.500000
   B. Rs.50000
   C. Rs.10000
   D. Rs.100000
   
   Answer & Explanation

   B. Rs.50000
   Explanation:It is a move aimed at curbing the black money menace. PAN will be a must for all transactions, including purchase of jewellery, above Rs 2 lakhs in cash or through card. PAN will also be mandatory on purchase of immovable property of over Rs 10 lakh. This will be a relief to small home buyers as previously the government had proposed to make PAN mandatory for property worth Rs 5 lakh.
   
   
3. Which bank has entered the social media space by launching its Facebook page and Twitter handle as part of its efforts to restore its image hit by the alleged Rs 6,100-crore remittance scam?
   A. Dhanalakshmi Bank
   B. State Bank of Travancore
   C. Oriental Bank of Commerce
   D. Bank of Baroda
   
   Answer & Explanation

   D. Bank of Baroda
   Explanation:Rs 6,172 crore was purported to have been remitted from a Delhi branch of Bank of Baroda to Hong Kong camouflaged as payments for non-existent imports such as cashew, pulses and rice. The alleged scam came to light in October 2015.
   
   
4. NIIF stands for
   A. National Integration and Infrastructure Fund
   B. Net Investment and Information Fund
   C. National Investment and Infrastructure Fund
   D. None of these
   
   Answer & Explanation

   C. National Investment and Infrastructure Fund
   Explanation:The government constituted NIIF, which is similar to a sovereign fund, with a corpus of Rs 40,000 crore to undertake investment in infrastructure projects. Markets regulator Sebi has approved the setting up of the NIIF. It has been registered with SEBI as Category II Alternative Investment Fund (AIF) on December 28, 2015. Members include DEA Secretary Das, Financial Services Secretary Anjuly Chib Duggal and SBI Chairperson Arundhati Bhattacharya, and TV Mohandas Pai, former board of directors of Infosys.
   
   
5. SEBI has rejected ____________ plea to reconsider an order cancelling the portfolio manager licence of the company.
   A. PACL group
   B. Sahara Asset Management
   C. MCX-SX
   D. None of these
   
   Answer & Explanation

   B. Sahara Asset Management
   Explanation:Reason: Not ‘fit and proper’ for this business.
   Keeping Sahara AMC in the mainstream market after considering the antecedents of Subrata Roy Sahara and some other companies of the Sahara group, may cause injustice to the interests of investors and the safety and integrity of the securities market.
   
   
   
6. Among all Asian and BRICS currencies which currency turned out to be one of the best performers in 2015?
   A. Rupee
   B. Dollar
   C. Yen
   D. Pound
   
   Answer & Explanation

   A. Rupee
   Explanation:Indian currency’s depreciation of 5% against the dollar was less than the losses of most of its other Asian peers. It fared better in 2014, when it weakened by only 2%. Its Asian counterparts like the Indonesian rupiah weakened by 11.30 % and the Thai baht depreciated 9.5% against the dollar. Only Chinese currency fared marginally better, losing only 6%.
   
   
7. Which is the best private sector bank in asset quality?
   A. ICICI Bank
   B. HDFC Bank
   C. Yes Bank
   D. Axis Bank
   
   Answer & Explanation

   B. HDFC Bank
   Explanation:Asset quality is related to the left-hand side of the bank balance sheet. Bank managers are concerned with the quality of their loans since that provides earnings for the bank. Loan quality and asset quality are two terms with basically the same meaning.
   
   
8. Who is the current CMD of Corporation Bank?
   A. Rakesh Sharma
   B. J K Garg
   C. Rakesh Sethi
   D. Rajeev Rishi
   
   Answer & Explanation

   B. J K Garg
   Explanation:Corporation BankHQ: Mangalore,Karnataka
   Tagline: Prosperity for all
   
   
9. Which firm’s para-banking license scrapped by RBI?
   A. Sahara India
   B. Bajaj Finance
   C. Fino PayTech Limited
   D. None of these
   
   Answer & Explanation

   A. Sahara India
   Explanation:The action has been taken by the department of non-banking supervision of the RBI, in Kanpur. The move comes in wake of several irregularities and ignoring financial rules and regulations by Sahara, an official further informed.
   
   
10. China and ________ implement banking service protocol to provide easier financing.
    A. India
    B. Russia
    C. Pakistan
    D. America
    
    Answer & Explanation

    C. Pakistan
    Explanation:China, Pakistan implement banking service protocol-China and Pakistan have improved collaboration between their banking institutions with the implementation of a banking service protocol.To provide easier financing to the USD 46 billionSino-Pak economic corridor that passes through PoK.