Banking and Financial Awareness for SBI, IBPS RRB & NABARD Exam 2021
Banking and Financial Awareness for SBI, IBPS RRB & NABARD Exam 2021
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Banking and Financial Awareness for Banking Exams 2021

Current Banking Awareness PDF 2021. Important Banking and Financial Awareness Questions for SBI Clerk Mains, IBPS RRB & NABARD Grade-A Exam. If you are preparing for upcoming SBI Clerk Mains, IBPS PO/Clerk, and IBPS RRB Officer Scale-I and Office Assistant, NABARD Grade-A 2021, you will come across a section on Banking Awareness. Here we are providing you “Banking and Financial Awareness Questions” for upcoming Banking and Insurance Exams based on the latest pattern for your daily practice.

Banking and Financial Awareness Questions will help you learn concepts on important topics in Banking Awareness Section. These Banking and Financial Awareness Questions are also important for other banking exams such as IBPS PO, IBPS Clerk, SBI Clerk, IBPS RRB Officer, IBPS RRB Office Assistant, IBPS SO, SBI SO, NABARD Grade-A, RBI Assistant, LIC and other competitive exams.

Banking and Financial Awareness Questions 2021

1. The Reserve Bank it has imposed penalties on four co-operative banks for contravention of certain regulatory directions. Which one is not among them?

A. Saraswat Cooperative Bank, Mumbai
B. Jamia Cooperative Bank, New Delhi
C. SVC Co-operative Bank, Mumbai
D. The Ahmedabad Mercantile Co-operative Bank, Ahmedabad
E. Mahesh Co-operative Urban Bank, Hyderabad

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Correct Answer – C. SVC Co-operative Bank, Mumbai

Explanation: The Reserve Bank it has imposed penalties on four co-operative banks for contravention of certain regulatory directions. A penalty Rs 112.50 lakh has been imposed on Hyderabad-based Andhra Pradesh Mahesh Co-operative Urban Bank, Rs 62.50 lakh on The Ahmedabad Mercantile Co-operative Bank, Rs 37.50 lakh on SVC Co-operative Bank, Mumbai; and Rs 25 lakh on Saraswat Cooperative Bank, Mumbai. The penalty on Andhra Pradesh Mahesh Co-operative Urban Bank was for non-compliance with directions issued by RBI contained in Master Directions on ‘Interest Rate on Deposits’ and ‘Know Your Customer’. The Ahmedabad Mercantile Co-operative Bank has been penalised for violation of norms contained in Master Directions on ‘Interest Rate on Deposits’.

2. What amount of stimulus package has been announced by Finance Minister Nirmala Sitharaman to boost the economy during the fight against COVID-19 pandemic in June 2021?
A. 8, 18, 993 crores
B. 7, 78, 993 crores
C. 6, 28, 993 crores
D. 5, 48, 993 crores
E. None of these

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Correct Answer – C. 6, 28, 993 crores

Explanation: Government has announced stimulus package of six lakh 28 thousand 993 crore rupees to boost economy during the fight against COVID-19 pandemic. Finance Minister Nirmala Sitharaman announced several economic relief measures amid COVID pandemic including eight economic relief measures, of which four are absolutely new and one is specific to health infrastructure.

  • Finance Minister announced 1.1 lakh crore rupee Loan Guarantee Scheme for COVID affected sectors.
  • Also announced 1.5 lakh crore rupees for Emergency Credit Line Guarantee Scheme
  • Credit Guarantee Scheme which is a new scheme to facilitate loans to 25 lakh people through Micro Finance Institutions, MFI.
  • The Finance Minister also announced free tourist visa to five lakh tourists.
  • Extension of Atmanirbhar Bharat Rojgar Yojana from 30th of June, 2021 to 31st of March, 2022.

3. As per the new definition of small and medium sized companies (SMCs) by the Ministry of Corporate Affairs (MCA) what should be the sale limit of the company?
A. Rs 250 Crore
B. Rs 200 Crore
C. Rs 150 Crore
D. Rs 100 Crore
E. Rs 50 Crore

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Correct Answer – A. Rs 250 Crore

Explanation: The Ministry of Corporate Affairs (MCA) has expanded the definition of small and medium sized companies (SMCs) by raising their turnover and borrowing limits. The move is to simplify accounting processes and lessen compliance burden for small firms. According to the new definition, an SMC is an unlisted company, which are not banks, financial institutions or insurance firms with sales of up to Rs 250 crore and borrowings up to Rs 50 crore. Earlier, companies with sales of Rs 50 crore and borrowings of Rs 10 crore under the general accounting standards were qualified to be called SMC. The Companies (Accounting Standards) Rules, 2021, will be effective from April 1, 2021.

4. Which bank has launched Aarogyam Healthcare Business Loan under that the entire healthcare ecosystem such as hospitals, nursing homes, diagnostic centres etc can avail loans of up to ₹100 crore repayable in 10 years?
A. Punjab National Bank
B. Bank of Baroda
C. State Bank of India
D. Canara Bank
E. Bank of India

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Correct Answer – C. State Bank of India

Explanation: State Bank of India (SBI) has announced Aarogyam Healthcare Business Loan. Under this facility the entire healthcare ecosystem such as hospitals, nursing homes, diagnostic centres etc can avail loans of up to ₹100 crore repayable in 10 years. The loan can be availed either as term loan to support expansion/modernisation or as working capital facilities such as cash credit, bank guarantee/letter of credit. In metro centres, loans can be availed up to ₹100 crore, tier I & urban centres up to ₹20 crore and in tier II to tier VI centres up to ₹10 crore.

5.Which card service firm has in partnership with Fabindia has launched a co-branded contactless credit card to offer a rewarding shopping experience to its premium customers?
A. Yes Bank
B. HDFC Bank
C. ICICI Bank
D. IndusInd Bank
E. SBI Card

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Correct Answer – E. SBI Card

Explanation: SBI Cards & Payment Services, in partnership with Fabindia, launched co-branded contactless credit cards named ‘Fabindia SBI Card’ and ‘Fabindia SBI Card SELECT’ to offer a rewarding shopping experience to its premium customers. The contactless credit card provides reward points for the premium cardholders on their retail spending with the value back on varied spending categories. The cards offer 10 percent value back to customers for buying in-stores at Fabindia along with complimentary domestic airport lounge access. Customers with these cards are provided direct entry to FabFamily loyalty programmes and avail its benefits.

6. Lending marketplace Paisabazaar.com and which bank announced the launch of Step Up Credit Card – a credit builder product designed for consumers with limited access to formal credit, due to ineligible credit score.
A. Deutsche Bank
B. HSBC India
C. Standard Chartered Bank
D. SBM Bank India
E. Citi Bank

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Correct Answer – D. SBM Bank India

Explanation: Lending marketplace Paisabazaar.com and SBM Bank India announced the launch of Step Up Credit Card. It is a credit builder product designed for consumers with limited access to formal credit, due to ineligible credit score. The Step Up Credit Card, built in partnership with SBM Bank India, is the first product to be launched under Paisabazaar’s neo-lending strategy. These products would drive inclusiveness, by enabling underserved segments to access credit and over the long term, strengthen the lending ecosystem.

7. Which digital payment company has launched India’s first Wallet Auto Top-up feature using UPI e-mandates for its customers?
A. Mobikwik
B. Google Pay
C. Amazon Pay
D. PhonePe
E. Paytm

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Correct Answer – D. PhonePe

Explanation: Digital payments company,PhonePe launched India’s first Wallet Auto Top-up feature using UPI (Unified Payments Interface) e-mandates for its customers. The amount for Auto top-up ranges from Rs 1,000 to Rs 5,000. Under this feature, when a customer will set up a UPI e-mandate the PhonePe will automatically top up the wallet balance when it drops below a minimum level. This feature will save a lot of time and effort as there is no need to manually top up wallet balance for every transaction.

8. All housing finance companies with what asset size has now allowed by the Finance Ministry to use SARFAESI law to recover dues?
A. Rs 500 crore
B. Rs 300 crore
C. Rs 300 crore
D. Rs 200 crore
E. Rs 100 crore

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Correct Answer – E. Rs 100 crore

Explanation: The Finance Ministry has now allowed all housing finance companies with asset size of over ₹100 crore to use SARFAESI law to recover dues. SARFAESI law, enacted in 2002, empowers lenders to attach the pledged assets of the borrowers in the event of non-payment of dues. Till now, HFCs with assets over ₹500 crore and notified by the Finance Ministry, were allowed to use SARFAESI law to recover dues. Currently, there are nearly 100 HFCs that are registered with NHB. The top-10 HFCs account for 70-80 per cent of the assets of the housing finance industry.

9. SBI General Insurance has signed a corporate agency agreement with which bank for distribution of non-life insurance solutions?
A. Axis Bank
B. IDFC FIRST Bank
C. Yes Bank
D. HDFC Bank
E. None of these

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Correct Answer – B. IDFC FIRST Bank

Explanation:SBI General Insurance has signed a corporate agency agreement with IDFC FIRST Bank for distribution of non-life insurance solutions. Under this strategic agreement, SBI General Insurance will offer insurance products such as health, personal accident, home, motor and travel to the bank’s customers. It will also offer the commercial line of insurance products such as property, marine and engineering insurance. SBI General Insurance is one of the leading general insurance companies in India.

10. Bharti Airtel has partnered with which industry group for ‘Made in India’ 5G network solutions?
A. Adani Group
B. Bajaj Group
C. Mahindra Group
D. Aditya Birla Group
E. Tata Group

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Correct Answer  – E. Tata Group

Explanation: Bharti Airtel and Tata Group announced a strategic partnership for implementing 5G network solutions for India. The partnership with Tata Group allows telecom operator Airtel to take head-on, rival Jio’s pitch on homegrown 5G solutions. Tata Group has developed O-RAN (Open Radio Access Network) based Radio and core elements and integrated a totally indigenous telecom stack. While Airtel will pilot and deploy this indigenous solution as part of its 5G rollout plans in India, with a pilot beginning in January 2022.


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