Current Banking Awareness Quiz – Set 03 (Target SBI Clerk Mains)

Current Banking Awareness Quiz – Set 03 (Target SBI Clerk Mains)

Current Banking Awareness Quiz- Our current Banking Awareness Quiz section contains questions framed from the current banking topics that are in news. These questions are framed keeping in mind the upcoming SBI Clerk Mains exam and LIC ADO exam. 

Current Banking Awareness Quiz

  1. As per the new directive of government, a person will have to file income tax if he/she has Deposited an amount or aggregate of the amounts exceeding _________ in a current account?
    A) Rs 50 lakh

    B) Rs 1 crore
    C) Rs 2 crore
    D) Rs 3 crore
    View answer
      Option B
    Explanation: Deposited an amount or aggregate of the amounts exceeding Rs one crore in one or more current account
  2. What percentage of the surplus of SEBI should go towards its reserve fund?
    A) 20%

    B) 25%
    C) 50%
    D) 75%
    View answer
      Option B
    Explanation: SEBI should constitute a reserve fund and 25% of the annual surplus of the general fund should be credited to this reserve fund.
  3. SEBI has to transfer what percent of its profit as cash surplus to Government?
    A) 50%

    B) 25%
    C) 75%
    D) 80%
    View answer
    Option C
    Explanation: SEBI should constitute a reserve fund and 25% of the annual surplus of the general fund should be credited to this reserve fund. The remaining i.e 75% should be transferred by SEBI to the Consolidated Fund of India.
  4. As per the amendment in the Income Tax Act, a person would have to file income tax in case the incurred expenditure towards travel to a foreign country exceed ___________.
    A) Rs 75,000

    B) Rs 1 lakh
    C) Rs 2 lakh
    D) Rs 3 lakh
    View answer
    Option C
    Explanation: incurred expenditure of an amount or aggregate of the amounts exceeding Rs two lakh for himself or any other person for travel to a foreign country
  5. Which bank has acquired 9.47% Stake in Eveready by Invoking Pledged Shares?
    A) Axis Bank

    B) HDFC Bank
    C) IDBI Bank
    D) Yes Bank
    View answer
    Option D
    Explanation: Private sector lender Yes Bank has acquired over 9.47 percent shares of battery maker Eveready Industries by invoking pledged shares. The 68,80,149 shares has been acquired by the Yes Bank to resolve the issue of loan default by a group company, Mcleod Russel India Ltd (the borrower).
  6. What is the GDP Growth rate prediction for India in FY20 as per Economic Survey 2018-19?
    A) 7.0%

    B) 7.1%
    C) 6.9%
    D) 6.8%
    View answer
    Option A
    Explanation: GDP growth rate is set at 7 pc in 2019-20, up from 6.8 pc last fiscal 2018-19. In 2017-18 it was 7.2%
  7. As per the amendment in the Income Tax Act, a person would have to file income tax in case the expenditure incurred towards consumption of electricity exceeds ___________.
    A) Rs 50,000

    B) Rs 1 lakh
    C) Rs 1.5 lakh
    D) Rs 2 lakh
    View answer
    Option B
    Explanation: incurred expenditure of an amount or aggregate of the amounts exceeding Rs one lakh towards consumption of electricity
  8. Economic Survey 2018-19 aims to make India a $32 trillion economy by which year?
    A) 2025

    B) 2027
    C) 2030
    D) 2032
    View answer
    Option D
    Explanation: The survey highlights need for a robust and resilient Infrastructure to Create a $10 trillion economy by 2032.
  9. Who is the head of the Working Group formed by RBI on Core Investment Companies?
    A) Bibek Debroy

    B) Tapan Ray
    C) Ramesh Chand
    D) V. G. Kannan
    View answer
    Option B
    Explanation: The Reserve Bank of India has constituted a Working Group to Review Regulatory and Supervisory Framework for Core Investment Companies. The working group has six members and is headed by Shri Tapan Ray.
  10. Which bank has setup the Cen-MARG for MSME for credit facilities?
    A) Punjab National Bank

    B) Bank of Baroda
    C) Syndicate Bank
    D) Punjab & Sind Bank
    View answer
    Option D
    Explanation: Punjab & Sind Bank has set up the Centralised MSME & Retail Group (Cen-MARG) for credit facilities at its head office in New Delhi. The unit is named as Cen-MARG.

Read More Banking Awareness Topics

Attempt Banking Awareness Quiz

Leave a Comment