SBI PO TEST – Banking Awareness – Practice Test II
SBI PO TEST – Banking Awareness – Practice Test II
01. A borrower who has availed of a loan from the Bank, is not a Consumer, as per the Consumer Protection Act. Yes / No ?
02. What is the date for complete implementation of Basel III norms by banks in India?
03. What is a Whiteline ATM ?
04. In March 2014, which bank introduced for the first time in India, a facility which allows a person not holding an ATM card, to withdraw cash from its ATMs?
05. As of March 2014, which Bank proposed to issue Basel III compliant bonds in overseas markets, the first such issue out of India ?
06. Approximately, how much is India’s Foreign Exchange Reserves? Pick the correct option.
A. $ 1 trillion B. $ 600 billion C. $ 300 billion D. $ 150 billion
07. 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. Increases C. Decreases D. Can’t say
08. 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 Defense
09. 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?
10. As per current RBI guidelines, what is the time norm for classifying as NPA, a loan where the borrower has not paid installment or interest? (Pick the correct option.)
A. 30 days B. 60 days C. 90 days D. 180 days
Q 11 – Chose the correct option. As per the newly enacted Companies Act 2013, which is to be effective from the 1st April 2014, the Boards of Directors of the companies should include
(a) at least one woman Director
(b) at least two independent Directors.
(c) at least one Director representing the minority shareholders.
A. (a) & (b) B (b) & (c) C (a) & (c) D (a), (b) & (c) E. None of these options
Q 12 – As per the recent Monetary Policy announcements of 2014, by RBI Governor Shri. Raghuram Rajan, how much is the CPI inflation being targeted by January 2016?
Q 13 – What is adopted by RBI as the key measure of inflation ?
Q 14 – How much is the penal charges that banks can levy on customers who do not maintain minimum balance in Basic Savings Bank Deposits ?
Q 15 – Nachiket Mor panel recommended setting up of Payment banks. What are payment Banks?
Q 16 - Why smaller banks give higher interest rate on fixed deposits ?
Q 17 – Name the entities to whom RBI granted "in-principle" bank licences in April 2014.
Q 18 – What is the Twitter handle of SBI ?
Q 19 – True or False ? While taking possession of mortgaged properties under SARFAESI Act, banks should evict the tenant if any, in order to give vacant possession of the property to the ultimate buyer.
Q 20 – What is the maximum number of times in a month, that a Savings Bank customer of SBI can withdraw cash from any other bank ATM, without being charged for the same ?
Q. 21 - In case of failed ATM transactions where the customer's account gets debited without actual disbursal of cash, RBI has instructed crediting back amount of such failed transactions within how many working days?
Q 22 – What are Brown Label ATMs ?
Q 23 – As per RBI norms, the Basel III capital norms are to be fully implemented by what date ?
Q 24 - What is the Capital Adequacy Ratio (CAR), to be attained on full implementation of Basel III norms ?
Q 25 – CAR or Capital Adequacy Ratio is the ratio of the Bank’s Capital to what ?
Answers
01. 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.
02. RBI has extended to 31 March 2019, the date for complete implementation of Basel III norms by banks. (The earlier date was 31 March 2018.)
03. White-Label ATM – Owned and operated by a non-banking entity. E.g “Indicash” ATMs of Tata Communications Payment Solutions Limited (TCPSL)
04. Bank of India launched on 24 Mar 2014, 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.
05. 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.
06. Option C. - India's foreign exchange reserves rose to $298.64 billion as of March 21 from $297.29 billion in the previous week.
07. Option B - Increases. More demand for the Rupee to buy the shares pushes the value of the Rupee up.
08. Option B. Gold
09. 11.50%
10. 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
11 – Option D; all three required.
12 - RBI is targeting CPI inflation of 8% by January 2015 and 6% by January 2016.
13 - On April 1, 2014, RBI Governor Shri. Raghuram Rajan announced that RBI had adopted the new Consumer Price Index (CPI) (combined) as the key measure of inflation. This was one of te recommendations of the Urjit R Patel committee on Monetary Policy Reforms.
14 – Nil. In April 2014, RBI asked banks not to levy penal charges on customers who do not maintain minimum balance in Basic Savings Bank Deposits. This is as part of consumer protection initiative. Instead of levying penal charges, banks should limit services available on such accounts.
15 - Payments bank will open accounts for the underprivileged. These accounts will enable the customer to receive funds, deposit cheques and make payments. However, the bank will not engage in any form of lending and instead park all funds in government bonds.
16 - Smaller banks usually find it difficult to compete against bigger banks for funds in the market. Hence, they offer higher rates to the retail customers to get deposits.
17 - Infrastructure Development Finance Co (IDFC) and microfinance lender Bandhan Financial Services Ltd.
18 - 'TheOfficialSBI'.
19 – False. Banks cannot evict tenants in mortgaged properties. Supreme Court clarified that it is illegal for the Banks to evict the tenants from the properties mortgaged to the banks as security for advances, as part of their recovery process.
20 – 5.
21 – 12. Penalty @ Rs.100 per day of delay, is payable by the Bank if not
credited back in 12 days.
22 - Brown label ATMs: ATMs named under brand of sponsor bank but not owned by the bank. In such cases, the hardware as well as lease is under the ownership of the service provider, while connectivity and cash handling and management is the responsibility of the sponsor bank.
23 - March 31, 2019
24 - 11.50%.
25 - Risk Weighted Assets (RBI stipulated Risk weightages being assigned to the different categories of Assets of the Banks)
Opportunities multiply as they are seized. ~ Sun Tzu
