SBI PO TEST – Banking Awareness – Practice Test - 1

SBI PO TEST – Banking Awareness – Practice Test - 1

Q 01. Which panel / committee recently recommended that every citizen should have a bank account, on receiving Aadhar number ?

Q 02 - Nachiket Mor Panel on Financial Inclusion recommended raising of the Priority Sector Lending stipulation; up to what level ?

Q 03 – What is the Nachiket Mor panel recommendation in respect of SLR?

Q 04 – True or False ? Public Sector Banks can sell Insurance policies of any number of insurers.

Q 05 – What are IINSS (C) bonds sold by RBI in the last quarter of the last fiscal 2013-14?

Q 06 - Bharatiya Mahila Bank (BMB), the first women’s bank in Public Sector was Inaugurated on 19 Nov 2013. What is the significance of 19 November?

Q 07 – In November 2013, RBI said that Foreign Banks cannot open new branches in India, and stipulated a mechanism instead. What Mechanism?

Q 08 – Which Public Sector bank was the first to introduce ATM Card for joint account holders?

Q 09 – According to the recommendations of the Urjit Patel Committee on Monetary Policy, who is to be accountable for achieving the Inflation Target ?

Q 10 - In Jan 2014, RBI announced setting up a Deposit Education & Awareness Fund. How is this Fund to be funded?

Q 11 – In Jan 2014, RBI raised the Loan to Value (LTV) ratio in respect of Gold Loans. How much is the LTV now ?

Q 12 – Who headed the Committee that recently scrutinized the applications for new Bank licences and submitted recommendations thereon?

Q 13 – Who recently headed the Financial Sector Legislative Reforms Commission (FSLRC) that has proposed a complete overhaul of the existing financial sector laws ?

Q 14 – What is “Indicash”?

Q 15 – Which bank has recently launched Instant Money Transfer (IMT), which allows a person not holding an ATM card, to withdraw cash at its IMT-enabled ATMs - a first of its kind initiative by any public sector bank.?

Q 16 – According to the new simplified “Foreign Portfolio Investment Scheme” put in place by RBI, Portfolio investors registered in accordance with SEBI guidelines shall be called what ?

Q 17 - RBI has extended up to what date, the date for complete implementation of Basel III norms by banks.

Q 18 - A borrower who has availed of a loan from the Bank, is not a Consumer, as per the Consumer Protection Act. Yes / No ?

Q 19 - What is a Whiteline ATM ?

Q 20 - As of March 2014, which Bank proposed to issue Basel III compliant bonds in overseas markets, the first such issue out of India ?

Q 21 – As of Dec 2013, approximately how much was India’s External Debt? Pick the correct option.

A. $ 300 billion B. $ 400 billion C. $ 425 billion D. $ 450 billion

Q 22 - When Foreign Investors buy large number of shares in the Indian Stock Exchanges, what happens to the value of the Indian Rupee ? (Pick the correct option.)

A. Not Affected B. Tends to Increase C. Tends to Decrease D. Can’t say

Q 23 - In terms of value, Crude Oil is India’s biggest Import. Which item is currently the second? (Pick the correct option.)

A. Machineries B. Gold C. Nuclear Fuel D. Arms & Ammunition for Defence

Q 24 - As per RBI instructions on Basel III norms, how much is the Capital Adequacy Ratio required to be achieved by Indian Banks, on the date of complete implementation?

Q 25 - As per current RBI guidelines, what is the time norm for classifying as NPA, a loan where the borrower has not paid instalment or interest? (Pick the correct option.)

A. 30 days B. 60 days C. 90 days D. 180 days


A 01. Nachiket Mor Panel on Financial Inclusion.

A 02 – up to 50%

A 03 – That SLR has outlived utility for banks & NBFCs; to be removed eventually.

A 04 – True. As instructed by Finance Ministry in Dec 2013.

A 05 - Inflation Indexed National Savings Securities – Cumulative. They were Inflation Indexed Bonds.

A 06 – Birthday of India’s only woman Prime Minister yet, Indira Gandhi.

A 07 – As branches of the Foreign Bank’s wholly Owned Subsidiary registered in India.

A 08 - Canara Bank. Primary card holder initiates trxn using his PIN & Secondary card holder validates trxn using his PIN

A 09 - A new Monetary Policy Committee (MPC) with RBI Governor as head.

A 10 - Using unclaimed balances lying in deposit accounts of depositors, not claimed for 10 years or more. This is as per Section 26A of The Banking Laws (Amendment) Act 2012.

A 11 – 75%

A 12 – Bimal Jalan, former Governor of RBI.

A 13 - Justice Srikrishna

A 14 – The brandname of the 15,000 White Label ATMs to be rolled out by Tata Communications Payment Solutions Limited (TCPSL) across India by June 2016. It is the first non-banking firm to launch its ATM network.

A 15 – Bank of India

A 16 - Registered Foreign Portfolio Investor (RFPI).

A 17 - 31 March 2019

A 18 - No. A borrower who has availed of a loan from the Bank, is a Consumer, as per the Consumer Protection Act. All Banking services where deficiency in service is observed, the consumer can file a complaint under COPRA.

A 19 – White-Label ATM – Owned and operated by a non-banking entity. E.g “Indicash” ATMs of Tata Communications Payment Solutions Limited (TCPSL)

A 20 - Bank of India, the country’s third largest public sector lender, proposes to issue $300-400 million worth of Basel III compliant bonds in overseas markets. It will be the first such issue out of India. Basel III is the latest international accounting norm for banks,

A 21 - Option C. - $ 426 billion

A 22 - Option B – Tends to Increase. More demand for the Rupee to buy the shares pushes the value of the Rupee up.

A 23 - Option B. Gold

A 24 - 11.50%

A 25 - Option C – 90 days. As per current RBI guidelines, a loan where the borrower has not paid instalment or interest for 90 days is classified as NPA

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