LIC ADO General Awareness Questions Day – 203

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1) Which of the following statements about the Banking Ombdusman Scheme is/are correct?

a) It is run by the RBI directly to ensure customer protection in the banking industry.

b) Only Public Sector Banks (PSBs) are covered under the scheme.

c) It does not entertain complaints related to the internet banking.

d) a and b only

e) 1,2 and 3

2) Which of the following is a component of Base rate?

a) Un-allocable overhead cost for banks

b) Average return on net worth

c) Cost of deposits

d) Only 1 & 3

e) All of the above

3) Which among the following is not a trigger point of Prompt Corrective Action?

a) Balance of Trade

b) Capital to Risk Weighted Assets Ratio

c) Net Non-Performing Assets

d) Return on Assets

e) Only (2) and (4)

4) Which type of bank account enables an individual to deposit fixed amount every month for a pre-defined period which earns interest similar to Fixed Deposits (FD)?

a) Recurring Deposit Account

b) Saving Account

c) Current Account

d) Fixed Deposit Account

e) DEMAT Account

5) SEZ Act in India was passed in

a) 2005

b) 2006

c) 2007

d) 2008

e) 2009

6) ‘Earth Day, 2019’ was observed on which date?

a) 11 March

b) 05 June

c) 31 May

d) 22 April

e) 21 December

7) Renuka Lake is a designated Ramsar site. It is located in which state of India?

a) Jammu & Kashmir

b) Rajasthan

c) Himachal Pradesh

d) Manipur

e) Uttarakhand

8) Kota, a city in state of Rajasthan is located on bank of following river?

a) Son

b) Narmada

c) Luni

d) Chambal

e) Mahanadi

9) ‘Trishna Wildlife Sanctuary’ is located in which state of India?

a) Uttarakhand

b) Rajasthan

c) Madhya Pradesh

d) Tripura

e) Assam

10) Where is Chaudhary Charan Singh International Airport situated?​

a) Varanasi

b) Lucknow

c) Raipur

d) Nagpur

e) None of these

Answers :

1) Answer: a)

Banking Ombudsman Scheme is a mechanism created by the RBI to address the complaints raised by bank customers. It is run by the RBI directly to ensure customer protection in the banking industry.

The Scheme enables an expeditious and inexpensive forum to bank customers for resolution of complaints relating to certain services rendered by banks. The Banking Ombudsman Scheme was introduced under Section 35 A of the Banking Regulation Act, 1949 by RBI with effect from 1995. The present Ombudsman scheme was introduced in 2006.

2) Answer: e)

Base rate is arrived at by adding the following-

• The cost of deposits.
• Adjustment for the negative carry in respect of Cash Reserve Ratio (CRR) and Statutory Liquidity Ratio (SLR).
• Un-allocable overhead cost for banks which includes components like legal and premises expenses, depreciation, cost of printing and stationery, expenses incurred on communication and advertising etc.
• Average return on net worth, which is the amount of net income returned as a percentage of shareholder’s equity.

3) Answer: a)

The balance of Trade is not a trigger point of Prompt Corrective Action.

The Reserve Bank of India has specified certain regulatory trigger points, as a part of prompt corrective action (PCA) Framework, in terms of three parameters, i.e. capital to risk-weighted assets ratio (CRAR), net non-performing assets (NPA) and Return on Assets (ROA).

The PCA framework is applicable only to commercial banks and not extended to co-operative banks, non-banking financial companies (NBFCs) and FMIs.

4) Answer: a)

A recurring deposit account enables an individual to deposit fixed amount every month for a pre-defined period which earns interest similar to Fixed Deposits (FD).

5) Answer: a)

The SEZ Act – Special Economic Zone Act was passed in May, 2005. The act envisages that the SEZs would attract a large flow of foreign and domestic investment in infrastructure and productive capacity leading to generation of additional economic activity and creation of employment opportunities.

6) Answer: d)

On April 22, 1970, the Earth day is observed annually to support environmental protection. The theme for 2019 was ‘Protecting Our Species’, which are on the verge of extinction. As a part of celebrations, in India, the Lalbagh arm of the Rotary Club in Bengaluru has launched a 45-day long festival titled ‘Avani’ to mark the beginning of World Earth Day till June 5, which is celebrated as World Environment Day.

7) Answer: c)

Renuka Lake is in the Sirmaur district of Himachal Pradesh in India. It is the largest lake in Himachal Pradesh.

8) Answer: d)

Kota is a city located in Rajasthan on banks of Chambal River.

9) Answer: d)

In January, 2019, the ‘National Wildlife Board’ after receiving recommendations from the ‘State Wildlife Board’ approved extraction of natural gas from Trishna Wildlife Sanctuary located in Tripura, India.

10) Answer: B)

Chaudhary Charan Singh International Airport is an airport serving Lucknow, the capital of the Indian state of Uttar Pradesh.