Current Banking Awareness Quiz – Set 22

Hello Aspirants. Welcome to Current Banking Awareness Quiz in AffairsCloud.com. Here we are covering some important Banking Awareness Questions. Do study this banking quiz thoroughly as it may prove to be helpful in upcoming exams

1. Recently three development banks requested India to become their members. Which one of the following is not among those three development banks?
   A) Caribbean Development Bank
   B) Inter-American Development Bank
   C) European Bank for Reconstruction and Development
   D) Development Bank of Latin America
   E) Both A and D
   

   Answer & Explanation

   D) Development Bank of Latin America
   Explanation:
   India received requests from the European Bank for Reconstruction and Development (EBRD), the Inter-American Development Bank (IDB) and the Caribbean Development Bank (CDB) to become members
   The government was evaluating the requests and will take a decision soon.
   
   
2. According to ICRA report, Indian Securitisation market grew by 45% to around ________ in FY2016.
   A) Rs 24,500 cr
   B) Rs 20,500 cr
   C) Rs 25,000 cr
   D) Rs 20,000 cr
   E) Rs 35,000 cr
   

   Answer & Explanation

   B) Rs 25,000 cr
   Explanation:
   Indian Securitisation market grew by 45% to around Rs 25,000 cr in FY2016, a reversal of past three years’ trend, primarily due revival in asset classes like commercial vehicle and construction equipment says Icra in a report.
   
   
3. Which bank has been selected by the Tea Board as the new settlement bank for pan-India e-auction from sale number 25? 
   A) Syndicate Bank
   B) State Bank of India
   C) United Bank of India
   D) Bank of India
   E) Bank of Baroda
   

   Answer & Explanation

   D) Bank of India
   Explanation:
   IndusInd Bank, which has been the settlement bank for e-auction for the Rs 17,000 crore tea industry, is set to lose the status and Rs 8,000 crore business in the process.
   
   
   
4. With Tech Mahindra to drop its plan to set up payments bank in the country, the number of entities dropping their plan to set up payment bank is reached to
   A) 4
   B) 5
   C) 7
   D) 3
   E) 6
   

   Answer & Explanation

   B) 5
   Explanation:
   Earlier, Cholamandlam, IDFC Bank, Dilip Shantilal Shanghvi, Telenor Financial Services have also dropped their plans.
   
   
5. After a survey of 4000 ATMs in the country, RBI deputy Governor SS Mundra announced how much ATMs as non-working?
   A) 1/4th
   B) Half
   C) 1/3rd
   D) 1/5th
   E) None of these
   

   Answer & Explanation

   C) 1/3rd
   Explanation:
   Mundra quoted a survey of 4,000 ATMs conducted by a Reserve Bank team recently wherein it has found that almost one-third of these machines are not in working conditions.
   
   
   
6. Which public sector bank took a decision of not to credit the troubled sectors like steel?
   A) State Bank of India
   B) United Bank
   C) Canara Bank
   D) Bank of India
   E) Punjab National Bank
   

   Answer & Explanation

   E) Punjab National Bank
   Explanation:
   A week after reporting the worst set of numbers in the nation’s banking history with a net loss of Rs 5,367 crore for the March quarter, Punjab National bank said it will be cautious on troubled sectors like steel till a lasting solution is found.
   
   
7. From which of the following are the mobile wallet companies like Paytm, Mobikwik and Oxigen facing a threat?
   A) Unified Payments Interface
   B) new NBFCs
   C) RBI
   D) Payments Bank
   E) None of these
   

   Answer & Explanation

   A) Unified Payments Interface
   Explanation:
   UPI which is launched by NPCI is to serve as a payment platform of all bills through mobile using a single number.
   
   
8. IRDAI has imposed a penalty of Rs 35 lakh on which of the following company?
   A) HDFC Life
   B) Future Generali
   C) LIC
   D) Oriental Insurance Company
   E) SBI General Insurance
   

   Answer & Explanation

   B) Future Generali
   Explanation:
   IRDAI has imposed a penalty of Rs 35 lakh on Future Generali India Insurance Co for violating various laws including the ones related to payments, licensing of insurance agents and file and use policy.
   
   
9. RB has raised its concern over which accounts that can prove to be fraudulent?
   A) PF Accounts
   B) Current Accounts
   C) Post Office Accounts
   D) Jan Dhan Accounts
   E) None of these
   

   Answer & Explanation

   D) Jan Dhan Accounts
   Explanation:
   Raising concerns that Jan Dhan accounts can be misused by ‘money mules’, RBI warned they are “very vulnerable” to frauds and asked banks to be on guard against such activities.
   
   
   
10. Banks Board Bureau has suggested the 27 Public Sector Banks to be merged into how many banks?
    A) 5
    B) 10
    C) 8
    D) 4
    E) 6
    

    Answer & Explanation

    E) 6
    Explanation:
    Vinod Rai head of BBB said stronger banks should decide which of their bad loans to shift off their balance sheets, while weaker banks need fresh capital before a round of consolidation that would cut the number of state banks to no more than 6 from 27 now.