Banking Awareness 2016 SBI PO Special Questions [High level]

1. The nationalised banks include ________ banks nationalised on 19th July 1969 and ________ banks nationalised on 15th April 1980
a) 15; 5
b) 14; 6
c) 19; 6
d) 12; 6
e) 12; 8

2. PAN (Permanent Account Number) is compulsory for Fixed Deposits, Remittances like DDs/ TTs/TCs etc if:
a) The amount exceeds Rs. 10000
b) The amount exceeds Rs. 50000
c) The amount of Rs. 50000 and above
d) No such limit is fixed by the Income Tax authorities
e) None of the above

3. To reduce the burden of loan repayment on account of interest, Government has allocated Rs. _________ for interest subvention for 2016-17:
a) Rs. 10,000 Crore
b) Rs. 15,000 Crore
c) Rs. 12,000 Crore
d) Rs. 20,000 Crore
e) Rs. 16,000 Crore

4. Which of following are comes under unusual activities in respect of a customer's accounts?
a) Opening of account at a place other than the place of work
b) Frequent deposits of large sums of money bearing labels
of other banks into the account
c) Request for closure of newly opened accounts where high value transactions are already routed through
d) A and B
e) A, B and C

5. Which of the following is not a charge/ security for a bank while sanctioning a Loan?
a) Pledge
b) Hypothecation
c) Banker's Lien
d) Assignment
e) Letter of Guarantee

6. Which of the following is true about National Consumer Disputes Redressal Commission (NCDRC)?
a) It functions at the national level for the Consumer complaints of the value exceeding Rs. 100 lakhs
b) It is to hear appeals against the orders of the State Commission only
c) It's chairman must be either sitting or retired Judge of the Supreme Court of India
d) A and B
e) A, B and C

7. The liability of a minor coparcener in an HUF, for the acts of a Karta is:
a) Unlimited
b) Nil
c) To the extent of his share in the family property
d) 50% of the loss as per his share
e) None of the above

8. Any old bank has to fulfill the following terms and conditions to be included in the second schedule of RBI Act 1934:
a) It should be either a State Cooperative Bank or a Company defined under Indian Companies Act 1956 or an institution appointed by Central Govt. for undertaking banking operations.
b) Jointly its paid up capital and reserves should not be less than 5 lakhs.
c) It has to satisfy RBI that none of its functions, are against depositors interest.
d) All of the above
e) None of the above

9. Interest on Savings Bank Deposit account is calculated on:
a) Minimum balance during the month
b) Balance as on 30th of the month
c) Minimum balance between 10th and last day of the month
d) Balance on all Fridays
e) Average daily balances

10. The New Development Bank (NDB) of BRICS countries approved its first package of loans worth $811 million for four renewable energy projects in four member countries. Out of this $250 million is allotted to India. Which Indian bank became the first bank to receive this loan?
a) Andhra Bank
b) Bank of Baroda
c) Canara Bank
d) Dena Bank
e) State Bank of India

11. For door step banking by banks, RBI has issued directives under which of the following Acts:
a) RBI Act
b) Negotiable Instrument Act
c) Banking Regulation Act
d) Shops and Establishment Act
e) Industrial Disputes Act

12. A bank can purchase NPA from another bank, if in the books of selling bank, the account was
NPA for _________
a) 2 years
b) 3 years
c) 4 years
d) 5 years
e) 7 years

13. The term ARC used in Narasimham Committee Report II stands for _________
a) Asset Restructuring Corporate
b) Asset Relocation Company
c) Asset Reconstruction Company
d) Asset redeployment corporate
e) None of the above

14. Which domestic bank from April 2016 started first-of-its-kind Aadhaar-based ATM usage facility wherein a customer can transact using his biometric details instead of the PIN?
a) Axis Bank
b) HDFC Bank
c) Yes Bank
d) State Bank of India
e) DCB Bank

15. The minimum capital required to start a new Private Sector Bank is Rs. ________ crore.
a) 100
b) 200
c) 500
d) 300
e) 400

16. Which is the latest entity to enter India's mutual fund business as during April 2016 it filed papers with the SEBI for launching at least four mutual fund schemes?
a) Mahindra Asset Management Company (Mahindra AMC)
b) Daiwa Asset Management (India) Pvt. Ltd
c) Deutsche Asset Management (India) Pvt. Ltd.
d) DSP Black Rock Investment Managers Pvt. Ltd.
e) Edelweiss Asset Management Ltd.

17. Capital Local Area Bank (CLAB) is the India's first Small Area Finance Bank (SFB) started its operations in April 2016. In which of the following cities CLAB started its business operations?
a) Chandigarh
b) Jaipur
c) Amritsar
d) Jalandhar
e) Ludhiana

18. Which of the following banks fall under Public Sector?
a) ICICI Bank
b) IDBI Bank
c) HDFC Bank
d) AXIS Bank
e) None of the above

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