SBI PO Main 2016: Banking/Economy Test – Day 8

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  1. Static B&F Awareness 0%
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  1. Question 1 of 15
    1. Question
    1 points
    Category: Static B&F Awareness

    Bank lends to Micro Finance Institutions and is considered as finance to __________.

    Correct

    Explanation:
    Categories under priority sector are Agriculture, Export Credit, Education, Housing but recently, Reserve Bank of India (RBI) has revamped priority sector lending (PSL) norms. Now, loans to sectors such as social infrastructure, renewable energy and medium enterprises will also be treated as PSL.

    Incorrect

    Explanation:
    Categories under priority sector are Agriculture, Export Credit, Education, Housing but recently, Reserve Bank of India (RBI) has revamped priority sector lending (PSL) norms. Now, loans to sectors such as social infrastructure, renewable energy and medium enterprises will also be treated as PSL.

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

    The special drawing right granted by the International Monetary Fund to its member countries is _______________.

    Correct

    Explanation:
    International financing instrument created in 1970 by the International Monetary Fund (IMF) to coincide with the disfavor of the US dollar as the principal currency of the world trade. Also called paper gold, an SDR is neither paper nor gold but an accounting entry. It is not backed by any currency or precious metal, and is used only among governments and IMF for balance Of payments settlements.

    Incorrect

    Explanation:
    International financing instrument created in 1970 by the International Monetary Fund (IMF) to coincide with the disfavor of the US dollar as the principal currency of the world trade. Also called paper gold, an SDR is neither paper nor gold but an accounting entry. It is not backed by any currency or precious metal, and is used only among governments and IMF for balance Of payments settlements.

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

    CSGL account stands for

    Correct

    Explanation:
    CSGL, i.e. Constituents’ Subsidiary General Ledger account, means an SGL account opened and maintained with RBI by an agent on behalf of the constituents of such agent, i.e. a second SGL account opened by an agent with the RBI to hold the securities on behalf of their constituents. The constituents are known as the Gilt Account Holders (GAHs).

    Incorrect

    Explanation:
    CSGL, i.e. Constituents’ Subsidiary General Ledger account, means an SGL account opened and maintained with RBI by an agent on behalf of the constituents of such agent, i.e. a second SGL account opened by an agent with the RBI to hold the securities on behalf of their constituents. The constituents are known as the Gilt Account Holders (GAHs).

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

    Who decided the limits on cash withdrawal at ATMs and for purchase of goods and services?

    Correct

    Explanation:
    In case of cash withdrawal at other bank’s ATM, there is a limit of Rs 10,000/- per transaction. Cash withdrawal at POS has also been enabled by certain banks wherein, a maximum of Rs.1000/- can be withdrawn daily by using debit cards.

    Incorrect

    Explanation:
    In case of cash withdrawal at other bank’s ATM, there is a limit of Rs 10,000/- per transaction. Cash withdrawal at POS has also been enabled by certain banks wherein, a maximum of Rs.1000/- can be withdrawn daily by using debit cards.

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

    SEBI was established in the year

    Correct

    Explanation:
    SEBI(Securities and Exchange Board of India) was set up with the main purpose of keeping a check on malpractices and protect the interest of investors.

    Incorrect

    Explanation:
    SEBI(Securities and Exchange Board of India) was set up with the main purpose of keeping a check on malpractices and protect the interest of investors.

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

    The cheque having a date subsequent to the date on which it is drawn is known as

    Correct

    Explanation: A post-dated cheque is a cheque written by the drawer for a date in the future.

    Incorrect

    Explanation: A post-dated cheque is a cheque written by the drawer for a date in the future.

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

    Banking sector comes under which of the following sector?

    Correct

    Incorrect

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

    The maximum compensation by Banking Ombudsman for a complaint is-

    Correct

    Incorrect

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

    In partnership with which bank, Airtel E Commerce received a final license to set up a Payments Bank in the country?

    Correct

    Explanation:
    Airtel has became the first among the 11which were granted in-principle approvals in August 2015 to receive the formal licence from the central bank.
    The ‘in-principle’ approval was valid for 18 months, during that time RBI had asked applicants to comply with the licensing norms. Most of the players who received the payments licences are yet to apply for the final licences.

    Incorrect

    Explanation:
    Airtel has became the first among the 11which were granted in-principle approvals in August 2015 to receive the formal licence from the central bank.
    The ‘in-principle’ approval was valid for 18 months, during that time RBI had asked applicants to comply with the licensing norms. Most of the players who received the payments licences are yet to apply for the final licences.

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

    Which of the following organization is not a part of the group which decided to jointly work on tax related issues and develop new policies to stop tax base erosion and evasion?

    Correct

    Explanation:
    The mentioned initiative has been taken after the Panama Papers leak case.

    Incorrect

    Explanation:
    The mentioned initiative has been taken after the Panama Papers leak case.

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

    In which of the public sector bank, government decided to take a move to lower its stake below 51%?

    Correct

    Explanation:
    Centre planned to privatize IDBI Bank, by reducing government’s stake from 76.5 per cent to less than 51 per cent in Nov 2015

    Incorrect

    Explanation:
    Centre planned to privatize IDBI Bank, by reducing government’s stake from 76.5 per cent to less than 51 per cent in Nov 2015

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

    Which of the following Non-Banking Financial Company is been acquired by Disha Microfin, a microfinance company?

    Correct

    Explanation:
    Disha Microfin, which has received RBI’s approval to run a small finance bank, announced that it will acquire non-banking financial entity Future Financial Services.
    Ahmedabad-based Disha Microfin provides microfinance products and services to rural, semi urban and urban women on a commercially sustainable basis.

    Incorrect

    Explanation:
    Disha Microfin, which has received RBI’s approval to run a small finance bank, announced that it will acquire non-banking financial entity Future Financial Services.
    Ahmedabad-based Disha Microfin provides microfinance products and services to rural, semi urban and urban women on a commercially sustainable basis.

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

    Which foreign bank has decided to shut its half branches in India due to customers going digital?

    Correct

    Explanation:
    Hong Kong & Shanghai Banking Corp. ( HSBC ) will shut 24 of its 50 branches in India and reduce its presence to 14 cities in the country as it seeks to push more retail and wealth management business to the online channel.

    Incorrect

    Explanation:
    Hong Kong & Shanghai Banking Corp. ( HSBC ) will shut 24 of its 50 branches in India and reduce its presence to 14 cities in the country as it seeks to push more retail and wealth management business to the online channel.

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

    Who is the CEO of Oriental Bank of Commerce?

    Correct

    Incorrect

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

    Which bank has been selected by the Tea Board as the new settlement bank for pan-India e-auction from sale number 25, which falls on the third week of next month?

    Correct

    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.

    Incorrect

    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.


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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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