PAST YEAR BANKING AWARENESS SOLVED QUESTIONS 2020-21 (FOR SBI & IBPS BANK CLERK/PO/RRB/RBI/LIC EXAMS)

Banking System in India & World

1. RBI nationalised on? [IBPS Clerk Main 2021] (a) 1st January 1948 (b) 1st January 1950 (c) 4th fab 1950 (d) 1st January 1949 (e) None of these
2. India’s first small finance bank has been opened in which city? [IBPS RRB Asst. Main 2020] (a) Jalandhar (b) Ahmadabad (c) Bengluru (d) Kolkata (e) New Delhi
3. The Serum Institute of India (SII) has signed an agreement with UNICEF & GAVI to supply Pneumococcal Conjugate Vaccine (PCV) to low-income countries. Where is SII located? [SBI Clerk Main 2020] (a) Mumbai (b) New Delhi (c) Pune (d) Kolkata (e) None of these

Banking Structure & Instrument

1. What is the India’s GDP growth rate for 2021-22 as estimated by the Reserve Bank of India(RBI) in its recen monetary policy? [IBPS Clerk Main 2021] (a) $8.7 %$ (b) $9.2 %$ (c) $10.5 %$ (d) $10.2 %$ (e) $7.9 %$
2. F stands for in IFSC? [IBPS RRB Asst. Main 2020] (a) Fiscal (b) Forex (c) Foreign (d) Financial (e) None of the Above
3. Priority Sector includes which of the following categories? [IBPS RRB Scale-I Main 2020] (a) Agriculture (b) Micro, Small and Medium Enterprises (MSME) (c) Export Credit (d) Education (e) All of the above
4. What is Nominal Capital? [RBI Asst. Main 2020] (a) The amount available to shareholders (b) The amount available to market (c) The amount available to customers (d) The amount available to banks (e) None of these
5. IPPB is registered as payment bank under ___ schedule of RBI Act, 1934 [RBI Asst. Main 2020] (a) First (b) Second (c) third (d) fourth (e) None of these

Banking Functions

1. RBI said all entities will upload KYC to account opened by extending the applicability of the CKYCR with respect to $\longrightarrow$ ? [SBI PO Main 2020] (a) April 30, 2022 (b) April 1, 2021 (c) May 31, 2023 (d) April 1, 2022
2. The mutual fund is regulated by? [IBPS Clerk Main 2021] (a) IRDA (b) RBI (c) SEBI (d) AMFI (e) None of these
3. Global Trust Bank (GTB) merged with which bank? [IBPS RRB Asst. Main 2020] (a) Oriental Bank of Commerce (b) Indian Overseas Bank (c) Dena Bank (d) Bank of Baroda (e) SBI
4. Allahabad Bank has been merged with which of the following Banks? [IBPS RRB Scale-I Main 2020] (a) Punjab National Bank (b) State Bank of India (c) Union Bank of India (d) Indian Bank (e) None of these
5. SEBI enhanced the penalty against 3 rating agencies which ICRA, CARE and India Ratings and Research to ` 1 crore each for their lapses in giving credit rating to non-convertible debentures of which company? [RBI Asst. Main 2020] (a) Tesco (b) Honda (c) Wal-Mart (d) IL&FS (e) None of these
6. As per the “Framework for authorisation of pan-India Umbrella Entity for Retail Payments” released by RBI what should be the minimum paid-up capital of the umbrella entity? [SBI Clerk Main 2020] (a) Rs. 100 crore (b) Rs. 300 crore (c) Rs. 500 crore (d) Rs. 1000 crore (e) None of these

Banking Products

1. The first urban co-operative bank in India to transition to a SFB ( small finance bank) under the voluntary transition scheme is- [IBPS PO Main 2020] (a) Abhyudaya Co-op. Bank Ltd. (b) Shivalik mercantile. (c) Capital Small Finance Bank Ltd (d) Bombay Mercantile Co-op. Bank (e) New India Co-op. Bank Ltd.
2. Which Bank launched Home Utsav? [SBI PO Main 2020] (a) HDFC Bank (b) ICICI Bank (c) IDFC Bank (d) AXIS Bank
3. Which of the following bank has introduced a kisan credit card loan scheme for fishermen in Tamil Nadu? [IBPS Clerk Main 2021] (a) ICICI Bank (b) SBI (c) Axis Bank (d) Canara Bank (e) Indian Bank
4. In Jan 2021, which of the following has launched a new feature “safe pay” to make digital payments more secure and reduced online payment frauds? [IBPS Clerk Main 2021] (a) Google Pay (b) Phone Pay (c) Airtel Payments Bank (d) India Post Payment Bank (e) Paytm Payment Bank
5. What is the revised overdraft limit under Pradhan Mantri Jan Dhan Yojana? [IBPS RRB Asst. Main 2020] (a) Rs 5,000 (b) Rs 20,000 (c) Rs 10,000 (d) Rs 2,000 (e) Rs 1,000
6. If two parallel lines are drawn on the front part of a cheque, it is called $\qquad$ . [IBPS RRB Asst. Main 2020] (a) Crossed Cheque (b) Open Cheque (c) Slate Cheque (d) Traveller Cheque (e) Self cheque
7. What is the full form of MSP? [IBPS RRB Asst. Main 2020] (a) Minimum support prices (b) Maximum support prices (c) Market support prices (d) Minimum supporting prices (e) None of these
8. What is the limit of Mudra Scheme Tarun? [IBPSC RRB Scale-I Main 2020] (a) up to ₹ 50 , thousand (b) up to ₹ 1 Lakh (c) up to ₹ 5 Lakh (d) up to ₹ 10 lakhs (e) None of these
9. The value of Special Drawing Right (SDR) is determined by the basket of …… currencies. [IBPSC RRB Scale-I Main 2020] (a) 4 (b) 8 (c) 6 (d) 7 (e) 5

Money & Finance in Banking

1. In budget 2021, Finance minister Nirmala Sitharmam how much amount proposed for Recapitalisation of Public Sector Bank (In crores) ? [IBPS Clerk Main 2021] (a) 15,000 (b) 25,000 (c) 20,000 (d) 35,000 (e) 50,000
2. Which company does not come under Hinduja group? [IBPS RRB Asst. Main 2020] (a) Ashok Leyland (b) IndusInd Bank (c) NxtDigital Ltd (d) Cyqurex Systems Private Limited (e) HSBC
3. What is the maximum deposit allowed in India Post Payment Bank (IPPB)? [IBPS RRB Asst. Main 2020] (a) Rs. 10,000 (b) Rs. 50,000 (c) Rs. 1 lakh (d) Rs. 5 lakh (e) No limit
4. A type of Home loan for older homeowners that requires no monthly mortgage payments is known as- [IBPS RRB Asst. Main 2020] (a) Jumbo Mortgage (b) Interest Mortgage (c) Adjustable Rate Mortgage (d) Conventional Mortgage (e) Reverse Mortgage
5. On——, The Reserve Bank of India (RBI) has released a notification revising norms of Changing in the regulatory framework for Housing Finance Companies (HFCs) [RBI Asst. Main 2020] (a) October 20, 2020 (b) October 22, 2020 (c) October 21, 2020 (d) October 23, 2020 (e) October 24, 2020
6. Which Payments bank has partnered NSDC to train rural youth? [SBI Clerk Main 2020] (a) Airtel Payments Bank (b) Paytm Payments Bank (c) India Post Payments Bank (d) Jio Payments Bank (e) None of these
7. Total expenditure in budget 2020-21 is expected to be- [SBI Clerk Main 2020] (a) Rs. 50,42,230 crore (b) Rs. 30,42,000 crore (c) Rs. $40,42,230$ crore (d) Rs. 30,42,230 crore (e) None of these

Latest Current Affairs & Banking MCQs

1. Who has been appointed as the Chairman of the Telecom Regulatory Authority of India (TRAI)? [SBI Clerk Main 2020] (a) Shashi S. Vempati (b) Sanjay Kumar Mishra (c) PD Vaghela (d) Ajay Kumar Bhalla (e) None of these
2. Who has authored the book titled ’ 10 Rules of Successful Nations? [SBI Clerk Main 2020] (a) Amit Shah (b) Ranjan Gogoi (c) Ruchir Sharma (d) Roopa Pai (e) None of these
3. Harley-Davidson to shut down its manufacturing plant in India $\qquad$ $\square$ [SBI Clerk Main 2020] (a) Gurugram (b) NOIDA (c) Pune (d) Hyderabad (e) None of these
4. What is the stake of State Bank of India in the Jio Payments Bank? [SBI Clerk Main 2020] (a) 10 per cent (b) 25 per cent (c) 30 per cent (d) 49 per cent (e) None of these
5. On 8th October Indian Air Force celebrated its $\qquad$ anniversary? [SBI Clerk Main 2020] (a) 88th (b) 70th (c) 77 th (d) 73 rd (e) None of these
6. The Central Board of Secondary Education (CBSE) has partnered with which social media platform to launch a free and comprehensive training program for teachers and students of its affiliated schools in the first phase? [SBI Clerk Main 2020] (a) Google (b) Facebook (c) Microsoft (d) Twitter (e) None of these
7. The PM KUSUM scheme has been extended to allow how much farmers to set up standalone solar pumps? [SBI Clerk Main 2020] (a) 10 lakh (b) 20 lakh (c) 30 lakh (d) 40 lakh (e) None of these

Hints & Explanations

HINTS & EXPLANATIONS

Banking System in India & World

1. (d)
2. (a) Capital Small Finance Bank Ltd is the country’s first small finance bank opened in Jalandhar. It is first among the 10 entities that were given the in-principle approval by the Reserve Bank of India (RBI) to set up small finance banks.
3. (c) Serum Institute of India Pvt. Lt (d) is now the world’s largest vaccine manufacturer by number of doses produced and sold globally (more than 1.5 billion doses) which includes Polio vaccine as well as Diphtheria, Tetanus, Pertussis, Hib, BCG, r-Hepatitis B, Measles, Mumps and Rubella vaccines. It is estimated that about $65 %$ of the children in the world receive at least one vaccine manufactured by Serum Institute Vaccines manufactured by the Serum Institute are accredited by the World Health Organization, Geneva and are being used in around 170 countries across the globe in their national immunization programs, saving millions of lives throughout the world.

Banking Structure & Instrument

1. (c) 2. (d)
2. (e) Priority Sector includes the categories such as Agriculture, Micro, Small and Medium Enterprises (MSME), Export Credit, Education, Housing, Social Infrastructure and Renewable Energy.
3. (a) Nominal capital simply refers to the amount of capital-in shares-a company is legally authorized to make available to shareholders. Within the U.S., the nominal capital is generally provided within the company’s legal documentation.
4. (b) India Post Payments Bank (IPPB) has been included in the Second Schedule to the Reserve Bank of India Act, 1934 . India Post Payments Bank (IPPB) is a public sector payments bank from India operated by the India Post. Opened in 2018, the bank had acquired about 4.0 crore customers by December 2020. On 19 August 2015, the India Post received licence to run a payments bank from the Reserve Bank of India.

Banking Functions

1. (b)

(c) $3 . \quad(a)$ 4. (d) Allahabad Bank, one of the oldest public sector banks in the country, was merged with the Indian Bank on 15th February 2021. After Allahabad Bank’s merger with the Indian Bank, new rules have come into force from 16th February. 5. (d) The Securities and Exchange Board of India (Sebi) has enhanced the penalty against three rating agencies- ICRA, CARE and India Ratings and Research to ’ 1 crore each for their lapses in giving credit rating to non-convertible debentures of IL&FS. It is a “systemically important” Non-Deposit Accepting Core Investment Company registered with RBI. 6. (c) The Reserve Bank of India (RBI) came up with a framework for pan-India Umbrella Entity for Retail Payments, wherein the central bank has said that an entity must have a minimum paid-up capital of Rs 500 crore for setting up an umbrella entity for retail payment.

Banking Products

1. (b) 2. (b) $3 . \quad$ (e) $4 . \quad$ (c)
2. (c) To make the Pradhan Mantri Jan Dhan Yojana (PMJDY) scheme more attractive, the finance ministry decided to double the overdraft facility from Rs 5,000 to Rs 10,000.

The PMJDY was launched by Prime Minister Narendra Modi on 15 August 2014 as a national mission for financial inclusion to ensure access of financial services like bank accounts, insurance and pensions to the masses. 6. (a) If two parallel lines are drawn on the front part of a cheque, it is called a ‘Crossed’ Cheque. In this type of a cheque, the payee cannot withdraw money in cash but money can transfer in payee account. This type of cheque is endorsable. 7. (a) The full form of MSP is given in the first line of the passage and it is minimum support prices. Hence, option A is correct. 8. (d) The loan limit on the Mudra Loan is ₹ 10 Lakh which is set according to three schemes. The schemes are Shishu- for loans up to ₹ 50,000, Kishore- for loans exceeding ₹ 50,000 to up to ₹ 5 Lakh, and Tarun- for loans amounting to ₹ 5 Lakh to 10 lakhs. 9. (e) The value of Special Drawing Right (SDR) is determined by the basket of 5 currencies. The currencies are, US Dollar, Japanese Yen, British Pound, Chinese Yuan and Euro.

Money & Finance in Banking

1. (c)
2. (e) Ashok Leyland, IndusInd Bank, NxtDigital Ltd and Cyqurex Systems Private Limited are the part of Hinduja Groups.
3. (c) The maximum deposit allowed in India Post Payment Bank (IPPB) is Rs. 1 lakh. According to the guidelines, payments banks can open small savings accounts and accept deposits of up to Rs. 1 lakh per individual customer and provide remittance services. 4.. (e)
4. (b) On October 22, 2020, the Reserve Bank of India (RBI) has released a notification revising norms of Changing in the regulatory framework for Housing Finance Companies (HFCs). The Reserve Bank of India has prescribed that housing finance companies should have atleast $60 %$ of total assets towards housing finance by 31 March 2024.
5. (a) Airtel Payments Bank Ltd has collaborated with National Skill Development Corporation (NSDC) to train and skill young people in rural areas on financial services, enabling them to find jobs and become entrepreneurs in the sector, the payments bank said in a statement. Currently only six payments banks are operational in India, including Paytm Payments Bank, Airtel Payments Bank, India Post Payments Bank, Fino Payments Bank, Jio Payments Bank and NSDL Payments Bank.
6. (d) Total expenditure in 2020-21 is expected to be ₹ $30,42,230$ crore, which is $12.7 %$ higher than the revised estimate of 2019-20. Latest Current Affairs & Banking MCQs
7. (c) 2. (c) 3
8. (a) $\square$ (a) $4 . \quad(\mathrm{c})$
9. (a) 6 . (b) $7 . \quad(b)$