SBI CBO 2021 Exam on 23rd January 2022: Practice 20 Important Banking Awareness Questions with Answers

SBI CBO 2021 Exam on 23rd January 2022. Practice 20 Important Banking Awareness Questions with Answers. Check SBI CBO Previous Years’ (2020) Banking Awareness/ General Awareness/ Economy Questions.

Created On: Jan 20, 2022 15:35 IST
SBI CBO 2021 Practice 20 Important Banking Awareness Questions with Answers
SBI CBO 2021 Practice 20 Important Banking Awareness Questions with Answers

SBI CBO 2021 Banking Awareness Important Questions: The State Bank of India will be conducting the SBI CBO 2021 exam on 23rd January 2022 to fill up 1,226 Circle Based Officers (CBO) vacancies in different offices of the State Bank of India across India. Eligible Indian citizens can download the SBI CBO 2021 Admit Card from 10th to 23rd January 2022. Candidates will be shortlisted based on their performance in the Online Written Test, Screening, and Interview. In this article, candidates can practice 20 Important Banking Awareness Questions with Answers for SBI CBO 2021 as well as check SBI CBO Previous Years’ (2020) Banking Awareness/ General Awareness/ Economy Questions.

SBI CBO 2021 Important Dates

SBI CBO 2021 Recruitment Events

Date

SBI Circle Based Officer Notification

08th December 2021

SBI CBO Online Registration Start Date

09th December 2021

Online Fee Payment

09th to 26th December 2021

SBI CBO Online Registration Last Date

29th December 2021

Last Date for Editing the Application

29th December 2021

SBI CBO Call Letter (Admit Card)

10th January to 23rd January 2022

SBI CBO 2021 Exam Date

23rd January 2022

SBI CBO 2021 Interview

To Be Notified

SBI Circle Based Officer Result

To Be Notified

 

SBI CBO 2021 Related Links
SBI CBO 2021 Section-wise Syllabus & Latest Exam Pattern SBI CBO 2021 Important Topics Section wise  SBI CBO 2021 Section-wise Preparation Strategies  SBI CBO 2021 Important Essay Letter Writing Topics

SBI CBO 2021 Exam Pattern

The SBI CBO 2021 Selection Process consists of Online Written Tests, Screening, and Interview. The Online Written Tests will include two tests – Objective Test (Online) and Descriptive Test (Online). The total duration of both tests is 2 hours and 30 minutes. Candidates will be asked a total of 170 questions for 170 marks. The duration of the Objective Test (Online) is 2 hours and it will consist of 4 Sections for a total of 120 marks. The duration of the Descriptive Test (Online) is 30 minutes and it will consist of 2 questions for a total of 50 marks. There will be separate timing for every section. 

SBI CBO 2021 Online Written Tests

Test A: Objective Test (Online)

Name of Test

No of Questions

Maximum Marks

Duration

English Language

30

30

30 mins

Banking Knowledge

40

40

40 mins

General Awareness/Economy

30

30

30 mins

Computer Aptitude 

20

20

20 mins

Total

120

120

2 hours

SBI CBO 2021 Test B: Descriptive Test (Online)

B. Name of Test (Descriptive Test)

No of Questions

Maximum Marks

Duration

Letter Writing

1

25

30 mins

Essay

1

25

Total

2

50

30 mins

NOTE: Merit list will be drawn State wise and Category wise on the basis of the aggregate marks scored in the Online Written Test. There will be no sectional qualifying marks. Candidates numbering up to 3 times (approx.) of the State wise and Category wise vacancies will be shortlisted for Screening from the top of the merit list drawn on State wise and Category wise subject to a candidate scoring the minimum aggregate qualifying score, as decided by the Bank.

There will be no penalty for wrong answers marked in Objective Tests. Sectional Marks will not be maintained for Online Written examinations.

SBI CBO 2021 Practice 20 Important Banking Awareness Questions with Answers

Q1. Where a cheque bears across its face crossing with the name of a banker, such a crossing will be called _______

(1) General Crossing

(2) Special Crossing

(3) Restrictive Crossing

(4) Double Crossing

(5) 'And Co.' Crossing

Answer: (2)

Special Crossing is defined in Section 124 of the Negotiable Instruments Act, 1881. Special Crossing is also known as Restricted Crossing.

Q2. To combat the menace of money laundering, which of the following financial institutions has introduced the ‘Know Your Customer’ Scheme?

(1) IDBI

(2) RBI

(3) NABARD

(4) SIDBI

(5) Other than those given as options

Answer: (2)

The Reserve Bank of India (RBI) introduced the ‘Know Your Customer’ Scheme in 2002 to help control financial frauds, identify money laundering and suspicious activities, and for scrutiny/monitoring of large value cash transactions.

Q3. Monetary policy is concerned with ________

(1) the changes in the supply of money

(2) buying and selling of financial instruments

(3) reducing unemployment

(4) All (1), (2) & (3)

(5) Other than those given as options

Answer: (4)

Monetary policy laid down by the Reserve Bank of India (RBI) is concerned with the changes in the supply of money, buying and selling of financial instruments, reducing unemployment. Monetary policy can be expansionary and contractionary in nature. Expansionary monetary policy usually decreases unemployment.

Q4. NFS is operated by ______

(1) India Post

(2) RBI

(3) NPCI

(4) CCIL

(5) IDRBT

Answer: (3)

National Financial Switch (NFS) is operated by the National Payments Corporation of India (NPCI).

Q5. Which of the following institutions is entrusted with the responsibility of Inspection of Regional Rural Banks?

(1) NABARD

(2) State Bank of India

(3) Reserve Bank of India

(4) Respective Sponsor Banks

(5) Respective State Government

Answer: (1)

NABARD is entrusted with the responsibility of Inspection of Regional Rural Banks.

Q6. Which taxes at the Central level are being subsumed into GST?

(1) Central Excise Duty

(2) Additional Excise Duty

(3) Service Tax

(4) Special Additional Duty of Customs

(5) All the given options

Answer: (5)

At the Central level, the following taxes namely Central Excise Duty, Additional Excise Duty, Service Tax, Special Additional Duty of Customs, and Additional Customs Duty is commonly known as Countervailing Duty are subsumed into GST.

Q7. Which of the following sectors contributes maximum in deciding the growth in income of the states in India?

(1) Energy

(2) Tourism

(3) Service

(4) Transport

(5) Agriculture

Answer: (3)

Service Sector contributes a maximum at 54% in deciding the growth in income of the states in India.

Q8. Which of the following is the state has emerged as the poorest in India as per NITI Aayog's Multidimensional Poverty Index (MPI)?

(1) Bihar

(2) Andhra Pradesh

(3) Uttar Pradesh

(4) Rajasthan

(5) Orissa

Answer: (1)

As per the NITI Aayog's Multidimensional Poverty Index (MPI), 51.91% of the population in Bihar is multidimensionally poor.

Q9. Who is the person closely associated with operation flood programmes and was honoured by Padma Vibhushan?

(1) Dr. V. Kurien

(2) Dr. M. S. Swaminathan

(3) Dr. Amartya Sen

(4) Shri L. K. Advani

(5) Other than those given as options

Answer: (1)

In the late 1960s, Dr. Verghese Kurien drew up a project called Operation Flood.

Q10. According to RBI guidelines, the ‘Payments Banks’ are ‘permitted’ to _____

(1) Accept NRI deposits

(2) Issue Credit/Debit Cards

(3) Distribute pension/mutual fund & insurance products

(4) Offer other financial/non-financial services of promoters

(5) Set up subsidiaries to undertake non-banking financial services

Answer: (3)

According to RBI guidelines, payments banks can undertake non-risk sharing simple financial services activities that do not require any commitment of their own funds such as distribution of mutual fund units, insurance products, pension products, etc. with the prior approval of the RBI and after complying with the requirements of the sectoral regulator for such products.

Q11. In which year, the first five year plan was launched in India?

(1) 1981

(2) 1941

(3) 1961

(4) 1951

(5) 1971

Answer: (4)

The First Five-Year Plan was presented before the Parliament on 9th July 1951 by India’s first Prime Minister Jawaharlal Nehru.

Q12. ‘Financial Stability Report (FSR)’ is released by which institution?

(1) World Bank

(2) Securities Exchange Board of India (SEBI)

(3) Reserve Bank of India (RBI)

(4) Asian Development Bank (ADB)

(5) NITI Aayog

Answer: (3)

The Reserve Bank of India (RBI) releases the ‘Financial Stability Report (FSR)’. The latest RBI’s Financial Stability Report was released on 3rd January 2022.

Q13. The GST Council has decided to postpone the increase in GST Rate on which product?

(1) Cotton

(2) Oil

(3) Mobile Phones

(4) Textile

(5) Automobile

Answer: (4)

The 46th Council meeting of the GST Council has decided to postpone the rate hike on textiles from 5% to 12%. Indian industry and other various States have opposed the increase in the tax to 12% from 5% effective January 1, 2022. The issue will be reviewed in the next meeting in February 2022.

Q14. What is the revised date of the deadline for updating KYC for bank accounts?

(1) 31st March 2022

(2) 31st January 2022

(3) 31st May 2022

(4) 31st July 2022

(5) 31st October 2022

Answer: (1)

The Reserve Bank of India (RBI) has extended the deadline for KYC in bank accounts till March 31, 2022, from the previous deadline of December 31, 2021.

Q15. In the Indian banking industry, which private bank recently issued the first Line of Credit (LC) on the Secured Logistics Document Exchange (SLDE), a government-backed blockchain-enabled platform?

(1) HDFC Bank

(2) Axis Bank

(3) ICICI Bank

(4) IDBI Bank

(5) Induslnd Bank

Answer: (2)

Axis Bank on Monday said it has successfully executed industry-first blockchain-enabled domestic trade transaction with Arcelor Mittal Nippon Steel India, and Lalit Pipes & Pipes Ltd on Secured Logistics Document Exchange (SLDE), a government-backed platform.

Q16. What is the maximum limit of Aadhaar-enabled cash withdrawal transactions, per customer, per terminal per day, as per NPCI?

(1) 10

(2) 5

(3) 8

(4) 6

(5) 11

Answer: (2)

National Payments Corporation of India has introduced the maximum limit of five Aadhaar enabled cash withdrawal transactions, per customer, per terminal per day. The issuers will also implement a limit of a minimum of five mini statement transactions per customer per month. This has to be implemented by 15th January 2022.

Q17. What is the annual export target of India for the year 2021-22?

(1) $400 billion

(2) $600 billion

(3) $500 billion

(4) $450 billion

(5) $350 billion

Answer: (1)

India has set an ambitious target of $400 billion of exports for the year 2021-22. Indian economy has returned to the high growth path and India's GDP grew by over 20 per cent in the first quarter of 2021-22. India's exports in the April-December period came to about $300 billion.

Q18. Pierre-Olivier Gourinchas has been named as the new Chief Economist of which international body?

(1) World Bank 

(2) ADB

(3) IMF

(4) RBI

(5) OECD

Answer: (3)

Pierre-Olivier Gourinchas was named as the new Chief Economist of the International Monetary Fund announced on 11th January 2022. Pierre-Olivier Gourinchas is a French-born University of California- Berkley Economist who will be joining the IMF management team in January 2022 and replacing Gita Gopinath as the IMF’s Chief Economist.

Q19. What is the total cost approved for setting up Green Energy Corridor Phase 2 to facilitate the grid integration and the power evacuation of about 20 GW of renewable energy projects in 7 states?

(1) Rs 12,031 crores

(2) Rs 14,031 crores

(3) Rs 10,031 crores

(4) Rs 20,031 crores

(5) Rs 16,031 crores

Answer: (1)

Union Cabinet on 6th January 2022 approved the Green Energy Corridor Phase 2 to be set up at a total of cost of Rs 12,031 crores of which the Central Finance Assistance (CFA) will be 33% of the project cost.

Q20. PM Narendra Modi launched two customer-centric initiatives ‘Retail Direct Scheme’ and ‘Integrated Ombudsman Scheme’ of which institution?

(1) World Bank

(2) Securities Exchange Board of India (SEBI)

(3) Reserve Bank of India (RBI)

(4) Asian Development Bank (ADB)

(5) NITI Aayog

Answer: (3)

PM Narendra Modi on 12th November 2021 launched two customer-centric initiatives of the Reserve Bank of India (RBI) - ‘Retail Direct Scheme’ and ‘Integrated Ombudsman Scheme’ to ease access to the government securities market for retail investors.

 

SBI CBO 2021 Related Links

SBI CBO 2021 Job Profile, Salary, Perks, Training, & Career Path

SBI CBO 2021 Detailed Eligibility Criteria

SBI CBO 2021 Notification PDF

SBI CBO Previous Years’ (2020) Banking Awareness/ General Awareness/ Economy Questions

TOPICS

TOPICS

CIBIL Maximum Score

Lien Concept

OCEN Full Form

For suit filing minimum amount?

Pound/INR

Partnership firms ownership percentage

Floating Rate Saving Bond

Vigilance Week

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UAPA 1967 ACT

EWS

RAMSAR Convention

Apprentice Act

Transparency International HQ

Whistle Blower

Indian Stamp Act

DRT

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BR Act 1949

PSLC

One question on Cooperative Bank

Wilful Defaulter Limit

One question on Rojgar Yojna

Languages in Indian currency

One question on Trust – Trustee

PM SVANidhi

One question on Exchange Rate

How long the bank will maintain the details of the account holder after closing the account?

Which organization is responsible for making sure that no terrorist organization/person hold any account with any bank?

 

SBI CBO 2021 Admit Card - Download Link

Take Free Online SBI Circle Based Officer (CBO) 2022 Mock Test

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