Saturday, 24 September 2016

Banking and Financial Awareness for BOB/IBPS Exams

Q1. The Govt of India in general and the Banks in particular are very much after ‘Financial Inclusion’. a goal which both of them wish to achieve as early as possible. What is the actual meaning of “Financial Inclusion”?
(1) Each and every individual above the age of 21 years should have an employment and/or independent source of income
enough for him/her to sustain.
(2) It is a concept which envisages that maximum people in India should have access to banking services.
(3) Banking services should be provided only to those who have a valid and legal source of income as Govt of India wants each and every person in the income tax net irrespective of the level of their income.
(a) Only (1) is true
(b) Only (2) is true
(c) Only (3) is true
(d) All (1), (2) & (3) are true
(e) None of the above

Q2. Which of the following organisations/banks has done a commendable work in the field of micro-finance and was awarded Nobel Prize also in the past?
(a) Gramin Bank of Bangladesh
(b) CRY
(c) ASHA
(e) None of the above

Q3. A worldwide financial messaging network which exchanges messages between banks and financial institutions is known as __________?
(a) CHAPS 
(c) NEFT 
(d) SFMS

Q4. Which of the following is/are the major reforms the Govt has introduced in the banking sector? 
(1) Dismantling the complex system of interest rate controls
(2) Eliminating prior approval of the RBI for large loans
(3) Introduction of capital adequancy norms and a few other prudential norms
(a) Only (1) 
(b) Only (2)
(c) Only (3)
(d) All (1), (2) & (3)
(e) None of the above

Q5. The concept of'Micro Credit' essentially concentrates on?
(a) consumption smoothing as and when needed
(b) providing safe place to hold savings
(c) accepting deposits
(d) provision of credit to the poor
(e) facility to transfer money

Q6. Which of the following will set up core banking infrastructure for rural banks?
(a) SIDBI 
(b) IBA
(c) RBI 
(d) SBI

Q7. As per the decision taken by the Government of India, now the National Rural Employment Guarantee Act is extended to all the districts of India. This means it will now be applicable to about?
(a) 200 districts 
(b) 300 districts
(c) 400 districts 
(d) 500 districts
(e) 600 districts

Q8. The Government of India has launched a number of poverty alleviation programmes. This is done with the view that poverty is the root cause of social insecurity. In addition to that UNO has also launched Millennium Development Goals to be achieved by 2015. Which of the following is NOT one of those goals?
(a) Improve mental health
(b) Combat HIV/AIDS, Malaria
(c) Reduce marriageable age for males to 18 years
(d) Promote gender equality and empower women
(e) Achieve universal primary education

Q9. For which of the following reasons, NABARD has set up joint liability groups (JLG) of farmers? 
(a) To facilitate delivery of credit to farmers
(b) To facilitate better delivery of credit to farmers through informal sources
(c) To facilitate better delivery of credit to share croppers and those who do not have their own land
(d) To facilitate better delivery of credit to farmers through Panchayats
(e) None of the above

Q10. Loans of small or very small amounts given to low-income-group people are known as?
(a) Investment Loans
(b) Micro Credit
(c) Saving loans
(d) Secured loans
(e) Cash credit loans

Q11. The National Rural Employment Guarantee Act is now known by which of the following names? 
(a) Indira Gandhi Rural Employment Guarantee Act
(b) Rajiv Gandhi Rural Employment Guarantee Act
(c) Jawaharlal Nehru Rural Employment Guarantee Act
(d) Mahatma Gandhi Rural Employment Guarantee Act
(e) None of the above

Q12. Which of the following is/are true about the Loan Waiver Scheme for the farmers launched by the Govt of India recently?
(1) The Govt has taken over the debt of the farmers and has made reimbursement to the banks.
(2) The Govt has identified 237 lowproductivity districts where farmers would be eligible for a minimum loan relief of Rs 20,000 even if their land holdings were above two hectares.
(3) Andhra Pradesh has the highest number of beneficiaries of the scheme.
(a) Only (1) 
(b) Only (2)
(c) Only (3) 
(d) All (1), (2) & (3)
(e) None of the above

Q13. The Workers under the National Rural Employment Guarantee Act are encouraged to take their wages through bank and post office accounts. This step of the Govt. is to obtain which of the following goal(s)?
(1) Promote Banks business.
(2) To minimise corrupt practices.
(3) To encourage more and more people to join NREGA.
(a) Only (1) 
(b) Only (2) & (3)
(c) Only (2) 
(d) All (1), (2) & (3)
(e) Only (2) & (1)

Q14. The Union Budget for 1995-96 proposed the creation of RIDF in NABARD, with a corpus of Rs 2,000 cr. What is the full form of RIDF? 
(a) Rural India Decoration Forum
(b) Research and Industrial Development Forum
(c) Rural Infrastructure Development Fund
(d) Research and Industrial Development Fund
(e) None of the above

Q15. Which of the following is an easy way of providing credit to the farmer community?
(a) Kisan Credit Card
(b) Indira Vikas Patra
(c) National Saving Certificates
(d) Loan against gold
(e) None of the above

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