Banking Awareness Question for SBI PO:- 1. Recently which among the following panel recommends one-licence policy for all banks irrespective of the ownership pattern? (1) Nachiket Mor (2) Arvind Mayaram (3) Rajiv Takru (4) C Rangarajan (5) P J Nayak 2. As per the guidelines issued by the RBI, minors above ____ years of age have been allowed to open and operate independently savings bank account and use other facilities like ATM and cheque books? (1) 10 Years (2) 14 years (3) 8 years (4) 15 years (5) None of these 3. What is the name of the India’s own card payment system that has been dedicated to the nation recently by President Pranab Mukherjee? (1) AtmCard (2) RupayCard (3) PaisaCard (4) MoneyCard (5) None of these 4. On 20 March 2014, RBI has proposed to setup of a Trade Receivables and Credit Exchange for financing (TCE) to finance..... 1) Exporters of Iron 2) Importers of Gold 3) Foreign Exchange Dealers 4) Bankers and Pawn Brokers 5) Micro, Small and Medium Enterprises (MSMEs) 5. RBI has introduced “Marginal Standing Facility” with the objective of: (1) Controlling Inflation (2) Containing instability in long term inter-bank rates (3) Containing instability in the overnight inter-bank rates (4) All of the above (5) None of these 6. Which of the following statements is incorrect regarding RTGS system? (1) The transactions take place in real time (2) The system operates on DNS (Deferred Net Settlement) basis (3) The minimum amount that can be remitted is Rs. 2 lakh (4) Service charges for RTGS transactions vary from one bank to another (5) None of these 7. A bank draft can be defined as a/an (1) Letter from commercial bank (2) Cheque drawn on the bank itself (3) Direction to a banker to collect a customer’s debt (4) Instruction to dishonour a stop payment (5) None of these 8. Recently RBI pegged 2014-15 GDP growth at a central estimate of _____? (1) 6% (2) 6.4% (3) 5.5% (4) 5.4% (5) 5% 9. Examine the following with respect to Exchange Earner’s Foreign Currency Account (EEFC): (A) It is a facility provided to the foreign exchange earner (individual or company) (B) The account holders are entitled to get only 50 percent of their foreign exchange earnings credited to the account (C) It can be held only in the form of a current with no interest payable on it Which of the above statements is/are correct? (1) All the above (2) Only A (3) Only B (4) Only A & C (5) Only B & C 10. As per the provision in the new Companies Act, Non-Banking Finance companies (NBFCs) have to maintain what per cent of the monies in low-interest securities or SLR-backed instruments? 1) 5 per cent 2) 10 per cent 3) 15 per cent 4) 20 per cent 5) 25 per cent 11. Which of the following interest rates signifies RBI’s long term stance of monetary policy? (1) Repo Rate (2) CRR (3) Bank Rate (4) Reserve Repo Rate (5) None of these 12. When RBI sells government securities, its result is that: (1) The liquidity in the banking system increases (2) The liquidity in the banking system remains unchanged (3) The liquidity in the banking system gets diminished (4) None of the above (5) None of these --------------------------------- Answers: 51253 22343 33 --------------------------------- Explanations of some Qs: 1. Reserve Bank of Indias P J Nayak panel report calls for single bank licencing regime. The report on banking governance of bank boards, headed by ex-chairman of Axis Bank P J Nayak, said the one-licence regulatory regime for banks with broad-ranging businesses would also not preclude RBI issuing niche licences under other more narrowly defined, licensing regimes, if it were to choose to do so. 3. The new payment network Rupay developed by the National Payments Corporation of India (NPCI), a not-for-profit company envisioned by the Reserve Bank of India (RBI) and created by the banking industry, covers all the automated teller machines (ATMs) and most of the retail and e-commerce platforms. RuPay is the coinage of two terms Rupee and Payment. 4. The RBI has proposed setting up of a trade receivables and credit exchange (TCE) for financing micro, small and medium enterprises (MSMEs). The proposed model outlines two stages for trade receivables, the primary segment where MSME bills are dematerialised and discounted through the electronic platform through the mechanism of reverse factoring and the secondary market segment where the already factored or discounted invoices are further traded. 5. Under the facility, the eligible entities can avail overnight, up to one per cent of their respective Net Demand and Time Liabilities (NDTL) outstanding at the end of the second preceding fortnight 12. OMOs are the market operations conducted by the Reserve Bank of India by way of sale/ purchase of Government securities to/ from the market with an objective to adjust the rupee liquidity conditions in the market on a durable basis. When the RBI feels there is excess liquidity in the market, it resorts to sale of securities thereby sucking out the rupee liquidity. Similarly, when the liquidity conditions are tight, the RBI will buy securities from the market, thereby releasing liquidity into the market.
Posted on: Thu, 22 May 2014 00:46:15 +0000
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