Super Banking Awareness Quiz by IBPS Online Coaching Experts

Keeping abreast of the Current Developments in the world of Finance and Banking is an absolute must for all SBI, IBPS and RBI exam aspirants. Such developments become the basis of the lion’s share of questions seen in the General Knowledge section of these exams. Thus, arises the need for a concise, relevant and credible source of information that can help an exam aspirant in cracking these questions.

Well known for offering the Best Bank Online Coaching Classes, Vidya Guru facilitates students’ learning by publishing quality preparatory material. This material is offered to all Competitive Exam aspirants in the form of periodic MCQ quizzes using which they can assess their level of preparedness. Apart from it, these quizzes prove to be a wonderful resource for revision during the last leg of preparation before any exam.

Banking Awareness Quiz
Question 1) Reserve Bank of India (RBI) has imposed a penalty of Rs 59 lakh on ______
A) Barclays Bank
B) KEB Hana Bank
C) HSBC India
D) Deutsche Bank
E) Citi Bank
Answer – B) KEB Hana Bank
Explanation:
Reserve Bank of India(RBI) has imposed a penalty of Rs 59 lakh on the KEB Hana Bank for non-compliance with the certain norms related to ‘interest rate on deposits’.
KEB Hana Bank:
Headquarters: Jung-gu, Seoul, South Korea
Founded: 30 January 1967
Parent organization: Hana Financial Group

Question 2) Which among the following banks has launched an online platform ‘Trade nxt’ for providing comprehensive cross border trade finance services to Indian Exporters and Importers?
A) BOB
B) Indian Bank
C) IOB
D) UBI
E) None of these
Answer – D) UBI
Explanation:
Union Bank of India(UBI) has launched an online platform ‘Trade nxt’ for providing comprehensive cross border trade finance services to Indian Exporters and Importers.
‘Trade nxt’ – a next generation digital banking platform that enables all corporates as well as MSMEs.
It offers seamless entry and processing of letters of credit (LC), bank guarantees, export/import bills, disbursement of export credit, outward & inward remittances, dealer financing and much more.
‘Trade nxt’ platform will also enable the regulatory online auto reporting through
● Import Data Processing & Monitoring System (IDPMS),
● Export Data processing & Monitoring System (EDPMS) and other statutory reporting pertaining to ODI/ FDI/ LRS transactions, which will make the process much more convenient.

Question 3) Which among the following banks has tied up with the British Bank Santander UK for India-UK business?
A) IndusInd Bank
B) ICICI Bank
C) Federal Bank
D) CSB Bank
E) Axis Bank
Answer – B) ICICI Bank
Explanation:
ICICI Bank has signed a Memorandum of Understanding (MoU) with British bank Santander UK to provide banking solutions across trade, cross-border payments, supply chain, treasury solutions and retail banking to the UK corporates operating in India

Question 4) Who among the following persons has been appointed as an ex-officio member of the Monetary Policy Committee?
A) Vishu Ramachandran
B) Alok Sarma
C) Rajiv Ranjan
D) Sitikantha Pattanaik
E) None of these
Answer – C) Rajiv Ranjan
Explanation:
Rajiv Ranjan – an ex-officio member of the Monetary Policy Committee

Question 5) RBI has proposed to make card-less cash withdrawal facility available across all banks and ATM networks using the _____
A) UPI
B) NEFT
C) IMPS
D) RTGS
E) None of these
Answer – A) UPI
Explanation:
RBI has proposed to make card-less cash withdrawal facility available across all banks and ATM networks using the UPI(Unified Payments Interface)

Question 6) Which among the following banks has introduced its digital broking solution – ‘E- Broking’?
A) BOB
B) Indian Bank
C) IOB
D) UBI
E) None of these
Answer – B) Indian Bank
Explanation:
Indian Bank, a leading psb, has launched its broking services under the name: ‘E- Broking’.

Question 7) Which among the following banks has introduced 30-minute ‘Xpress Car Loans’, an end-to-end digital new car loan solution?
A) HDFC Bank
B) ICICI Bank
C) Federal Bank
D) CSB Bank
E) Axis Bank
Answer – A) HDFC Bank
Explanation:
HDFC Bank has introduced 30-minute ‘Xpress Car Loans’, an end-to-end digital new car loan solution.

Question 8) Neobank startup, ______ has become India’s 100th unicorn with the latest funding of $50 million from IIFL and its existing investors.
A) Jupiter
B) Razorpay
C) Instapay
D) Kotak811
E) Open
Answer – E) Open
Explanation:
Neobank startup, OPEN recently became India’s 100th unicorn by securing a $50 million funding from IIFL and its existing investors.

Question 9) Which among the following banks has launched ‘skill loans’ in association with the Additional Skill Acquisition Programme (ASAP), Kerala?
A) BoB
B) Indian Bank
C) Canara Bank
D) UBI
E) None of these
Answer – C) Canara Bank
Explanation:
Canara Bank has launched ‘skill loans’ in association with the Additional Skill Acquisition Programme (ASAP), Kerala, the government company under the Higher Education Department. The range of “Skill loans” starting from Rs 5,000 to Rs 1.5 lakh.

Question 10) Which among the following has launched a pre-approved personal loan product under Project WAVE?
A) BoB
B) Indian Bank
C) IOB
D) UBI
E) None of these
Answer – B) Indian Bank
Explanation:
The Indian Bank has launched a pre-approved personal loan product under Project WAVE.

Question 11) Which among the following has launched a ‘Spot Offer’ on WhatsApp, to provide an in-principle home loan approval to home buyers within two minutes?
A) HDFC Bank
B) ICICI Bank
C) Federal Bank
D) CSB Bank
E) Axis Bank
Answer – A) HDFC Bank
Explanation:
HDFC Bank has launched a ‘Spot Offer’ on WhatsApp, to provide an in-principle home loan approval to home buyers within two minutes.

Question 12) Which among the following has imposed restrictions on Shankarrao Pujari Nutan Nagari Sahakari Bank Ltd., including a ban on withdrawals?
A) GOI
B) DICGC
C) RBI
D) BBB
E) None of these
Answer – C) RBI
Explanation:
RBI has imposed restrictions on Shankarrao Pujari Nutan Nagari Sahakari Bank Ltd., including a ban on withdrawals.

Question 13) Who among the following has been named as a new Chairman of GoPik Connect?
A) Vishu Ramachandran
B) Alok Sarma
C) Rajiv Ranjan
D) Sitikantha Pattanaik
E) None of these
Answer – A) Vishu Ramachandran
Explanation:
New Chairman of GoPik Connect – Mr Vishu Ramachandran

Question 14) The Union Cabinet has approved financial support of ____ for India Post Payments Bank(IPPB)
A) Rs 720 crore
B) Rs 620 crore
C) Rs 920 crore
D) Rs 820 crore
E) Rs 520 crore
Answer – D) Rs 820 crore
Explanation:
The Union Cabinet has approved financial support of Rs 820 crore for India Post Payments Bank (IPPB).

Question 15) How many applications for setting up banks were rejected by the Reserve Bank of India ?
A) 7
B) 6
C) 5
D) 4
E) 3
Answer – B) 6
Explanation:
RBI rejected six applications out of 11 applications for setting up banks.
Consideration for small finance Bank licence:
● Cosmea Financial Holdings Pvt. Ltd
● Tally Solutions Pvt. Ltd
● West End Housing Finance Ltd
● Akhil Kumar Gupta
● Dvara Kshetriya Gramin Fin. Serv. Pvt. Ltd

Question 16) Which among the following has imposed a penalty of 5 lakh on Axis Bank for violating merchant banking regulations?
A) RBI
B) NABARD
C) SEBI
D) SIDBI
E) None of these
Answer – C) SEBI
Explanation:
The Securities and Exchange Board of India (SEBI) has imposed a penalty of 5 lakh on Axis Bank for violating merchant banking regulations.

Question 17) To commemorate the 75 years of the country’s independence, Digital banking units in 75 districts are expected to become operational by ____ this year.
A) June
B) May
C) July
D) August
E) None of these
Answer – C) July
Explanation:
To commemorate the 75 years of the country’s independence, Digital banking units in 75 districts are expected to become operational by July this year.

Question 18) Which among the following has signed an MoU with West Bengal Small Industries Development Corporation Limited (WBSIDCL) to develop the eco-system for micro and small enterprises in the state?
A) IDBI
B) NABARD
C) SEBI
D) SIDBI
E) None of these
Answer – D) SIDBI
Explanation:
Small Industries Development Bank of India (SIDBI) has entered into an MoU with West Bengal Small Industries Development Corporation Limited (WBSIDCL) to develop the eco-system for micro and small enterprises in the state.

Question 19) Which among the following banks has announced the launch of an end-to-end Digital Platform to facilitate co-lending of loans in partnership with NBFCs?
A) BoB
B) Indian Bank
C) IOB
D) UBI
E) None of these
Answer – A) BoB
Explanation:
Vadodara based Bank of Baroda(BoB) has announced the launch of an end-to-end Digital Platform to facilitate co-lending of loans in partnership with NBFCs.

Question 20) Which among the following banks has launched a digital platform for merchants which will allow them to accept online and offline payments like China’s Alipay?
A) HDFC Bank
B) ICICI Bank
C) Federal Bank
D) CSB Bank
E) Axis Bank
Answer – A) HDFC Bank
Explanation:
HDFC Bank plans to launch a digital platform for merchants which will allow them to accept online and offline payments like China’s Alipay.

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Summary
Vidya Guru subject matter experts have created this Banking Awareness quiz based on the pattern of Bank PO and Clerk exams conducted by IBPS and SBI. Apart from these exams, the quiz also covers questions that one may expect to see in NICL, LIC, SEBI and RBI recruitment examinations. Moreover, pls. subscribe to our YouTube channel and don’t forget to press the bell icon so that you can gain access to all the free videos we publish for our viewers. Finally, if you want any guidance from our expert faculty, you can write in to us at vidyagurudelhi@gmail.com.