SBI PO Main 2016: Banking/Economy Test – Day 15

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  1. Question 1 of 15
    1. Question
    1 points
    Category: Current B&F Awareness

    Small Industries Development Bank of India (SIDBI), set up under which Act?

    Correct

    Explanation:
    Small Industries Development Bank of India (SIDBI), set up on April 2, 1990 under SIDBI Act–1989, is the Principal Financial Institution for the Promotion, Financing and Development of the Micro, Small and Medium Enterprise (MSME) sector.

    Incorrect

    Explanation:
    Small Industries Development Bank of India (SIDBI), set up on April 2, 1990 under SIDBI Act–1989, is the Principal Financial Institution for the Promotion, Financing and Development of the Micro, Small and Medium Enterprise (MSME) sector.

  2. Question 2 of 15
    2. Question
    1 points
    Category: Current B&F Awareness

    Export–Import Bank of India (EXIM Bank) established in _______ under the Export-Import Bank of India Act 1981.

    Correct

    Explanation:
    Export-Import Bank of India for providing financial assistance to exporters and importers, and for functioning as the principal financial institution for co-ordinating the working of institutions engaged in financing export and import of goods and services was established in 1982 under the Export-Import Bank of India Act 1981.

    Incorrect

    Explanation:
    Export-Import Bank of India for providing financial assistance to exporters and importers, and for functioning as the principal financial institution for co-ordinating the working of institutions engaged in financing export and import of goods and services was established in 1982 under the Export-Import Bank of India Act 1981.

  3. Question 3 of 15
    3. Question
    1 points
    Category: Current B&F Awareness

    The Banking Ombudsman Scheme was introduced under __________ of the Banking Regulation Act, 1949 by RBI with effect from 1995.

    Correct

    Explanation:
    The Banking Ombudsman Scheme was introduced under Section 35 A of the Banking Regulation Act, 1949 by RBI with effect from 1995.

    Incorrect

    Explanation:
    The Banking Ombudsman Scheme was introduced under Section 35 A of the Banking Regulation Act, 1949 by RBI with effect from 1995.

  4. Question 4 of 15
    4. Question
    1 points
    Category: Current B&F Awareness

    The Indian Banks’ Association (IBA) is an association of Indian banks and financial institutions having headquarters in ________

    Correct

    Explanation:
    Indian Banks’ Association (IBA), formed in 1946 as a representative body of management of banking in India. It is head-quartered in Mumbai. IBA is managed by a managing committee, and the current managing committee consists of one chairman, 3 deputy chairman, 1 honorary secretary and 26 members.

    Incorrect

    Explanation:
    Indian Banks’ Association (IBA), formed in 1946 as a representative body of management of banking in India. It is head-quartered in Mumbai. IBA is managed by a managing committee, and the current managing committee consists of one chairman, 3 deputy chairman, 1 honorary secretary and 26 members.

  5. Question 5 of 15
    5. Question
    1 points
    Category: Current B&F Awareness

    The Priority Sector Lending Certificates(PSLCs) can be traded using the RBI’s_______

    Correct

    Explanation:
    RBI launched a platform to enable trading in the priority sector lending certificates (PSLC) through its Core Banking Solution (CBS) portal (e-Kuber). Kuber refers to Lord Kubera – the lord of wealth in Hindu Mythology.

    Incorrect

    Explanation:
    RBI launched a platform to enable trading in the priority sector lending certificates (PSLC) through its Core Banking Solution (CBS) portal (e-Kuber). Kuber refers to Lord Kubera – the lord of wealth in Hindu Mythology.

  6. Question 6 of 15
    6. Question
    1 points
    Category: Current B&F Awareness

    A cheque which is truncated during the course of clearing cycle is called __________

    Correct

    Explanation:
    A truncated cheque means a cheque which is truncated during the course of clearing cycle either by the clearing house or by the bank.

    Incorrect

    Explanation:
    A truncated cheque means a cheque which is truncated during the course of clearing cycle either by the clearing house or by the bank.

  7. Question 7 of 15
    7. Question
    1 points
    Category: Current B&F Awareness

    Which of the following companies has tied up with ICICI Lombard General Insurance to offer motor insurance to its customers?

    Correct

    Explanation:
    BMW has partnered with ICICI Lombard General Insurance to provide the most comprehensive and beneficial motor insurance solutions to BMW customers.

    Incorrect

    Explanation:
    BMW has partnered with ICICI Lombard General Insurance to provide the most comprehensive and beneficial motor insurance solutions to BMW customers.

  8. Question 8 of 15
    8. Question
    1 points
    Category: Current B&F Awareness

    The RBI has allowed Axis Bank to raise shareholding to up to ____ from the earlier limit of 49%.

    Correct

    Explanation:
    The Reserve Bank of India (RBI) allowed the bank to raise foreign shareholding limit to 62%, from the earlier limit of 49%.
    Foreign institutional investors (FIIs)/registered foreign portfolios investors (RFPIs) can now invest from the existing 49% up to 62%of the paid-up capital of Axis Bank under the Portfolio Investment Scheme (PIS)

    Incorrect

    Explanation:
    The Reserve Bank of India (RBI) allowed the bank to raise foreign shareholding limit to 62%, from the earlier limit of 49%.
    Foreign institutional investors (FIIs)/registered foreign portfolios investors (RFPIs) can now invest from the existing 49% up to 62%of the paid-up capital of Axis Bank under the Portfolio Investment Scheme (PIS)

  9. Question 9 of 15
    9. Question
    1 points
    Category: Current B&F Awareness

    Which of the following was declared as “Best Company Promoting Sports (Private sector)” in the country at the National Sports Awards 2015?

    Correct

    Explanation:
    Lalita Babar was named Sportsperson of the Year in India Sports Awards.

    Incorrect

    Explanation:
    Lalita Babar was named Sportsperson of the Year in India Sports Awards.

  10. Question 10 of 15
    10. Question
    1 points
    Category: Current B&F Awareness

    Who is the head of committee which has been made to select the next RBI governor, as present RBI Governor Mr. Raghuram Rajan’s term will end in closer to September 2016?

    Correct

    Explanation:
    The committee route would be in sync with PM Narendra Modi’s remark that the appointment is an “administrative decision” that will be taken closer to September when Rajan’s term ends.
    PK Sinha is the Cabinet Sectretary.

    Incorrect

    Explanation:
    The committee route would be in sync with PM Narendra Modi’s remark that the appointment is an “administrative decision” that will be taken closer to September when Rajan’s term ends.
    PK Sinha is the Cabinet Sectretary.

  11. Question 11 of 15
    11. Question
    1 points
    Category: Current B&F Awareness

    Treasury bills or T-bills are money market instruments, issued by the GOI and are presently issued in ________

    Correct

    Explanation:
    Treasury bills are are short term debt instruments issued by the Government of India. They are also known as zero coupon securities and pay no interest. There are no treasury bills issued by State Governments.

    Incorrect

    Explanation:
    Treasury bills are are short term debt instruments issued by the Government of India. They are also known as zero coupon securities and pay no interest. There are no treasury bills issued by State Governments.

  12. Question 12 of 15
    12. Question
    1 points
    Category: Current B&F Awareness

    Which Act was framed specially to deal with Non-Performing Assets (NPA)?

    Correct

    Explanation:
    The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (also known as the Sarfaesi Act) allows banks and other financial institution to auction residential or commercial properties to recover loans. The first asset reconstruction company (ARC) of India, ARCIL, was set up under this act.

    Incorrect

    Explanation:
    The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (also known as the Sarfaesi Act) allows banks and other financial institution to auction residential or commercial properties to recover loans. The first asset reconstruction company (ARC) of India, ARCIL, was set up under this act.

  13. Question 13 of 15
    13. Question
    1 points
    Category: Current B&F Awareness

    _________ means any company which is a financial institution carrying on as its principal business the acquisition of securities.

    Correct

    Explanation:
    Investment Company (IC) is a company whose main business is holding securities for investment purposes.

    Incorrect

    Explanation:
    Investment Company (IC) is a company whose main business is holding securities for investment purposes.

  14. Question 14 of 15
    14. Question
    1 points
    Category: Current B&F Awareness

    ATMs set up, owned and operated by non-banks are called ______

    Correct

    Explanation:
    ATMs set up, owned and operated by non-banks are called White Label ATMs. Sponsor Bank provides cash for White Label ATMs. Non-bank ATM operators are authorized under Payment & Settlement Systems Act, 2007 by the RBI..

    Incorrect

    Explanation:
    ATMs set up, owned and operated by non-banks are called White Label ATMs. Sponsor Bank provides cash for White Label ATMs. Non-bank ATM operators are authorized under Payment & Settlement Systems Act, 2007 by the RBI..

  15. Question 15 of 15
    15. Question
    1 points
    Category: Current B&F Awareness

    Which of the following is the largest network of shared automated teller machines (ATMs) in India?

    Correct

    Explanation:
    National Financial Switch (NFS) was developed and deployed by the Institute for Development and Research in Banking Technology (IDRBT) in 2004, with the goal of inter-connecting the ATMs in the country and facilitating convenience banking for the common man. It is run by the National Payments Corporation of India (NPCI).

    Incorrect

    Explanation:
    National Financial Switch (NFS) was developed and deployed by the Institute for Development and Research in Banking Technology (IDRBT) in 2004, with the goal of inter-connecting the ATMs in the country and facilitating convenience banking for the common man. It is run by the National Payments Corporation of India (NPCI).


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SBI PO Main Week Days Test Timing
English Test 6:00 PM
Reasoning Test 7:00 PM
Quants Test 8:00 PM
Banking/Economy Test 9:00 PM
Static GK Test 10:00 PM




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