Banking Awareness for IBPS RRB 2016

Q1. Signature on Re. 1 note is made by the Finance Secretary but on the other notes by _____?
(a) Prime Minister
(b) President of India 
(c) Governor of Reserve Bank of India
(d) Finance Minister
(e) None of the above

Q2. On a cheque instead of two parallel lines only bank’s name is written. It is a _____?
(a) General crossing
(b) No crossing 
(c) Payable to bearer
(d) Special crossing 
(e) None of the Above

Q3. Which of the following acts as the Regulators for the Credit Rating Agencies in India?
(a) RBI
(b) SBI
(d) SEBI

Q4. The logo of Bank of Baroda is known as ______?
(a) Sun of Bank of Baroda 
(b) Baroda Sun
(c) Bank of Baroda’s rays 
(d) Sunlight of Bank of Baroda 
(e) None of the above

Q5. One of the major challenges faced by the Banking Industry is Money Laundering. Name the Act/Norms launched by the banks to curb Money Laundering, in general?
(a) Know your customer norms
(b) Banking Regulation Act 
(c) Negotiable Instrument Act
(d) Narcotics and Psychotropic Act
(e) None of the Above

Q6. Lots of banks in India offer M-Banking facility to their customers. What is the full form of “M” in it?
(a) Money  
(b) Marginal
(c) Massage 
(d) Mutual fund  
(e) Mobile

Q7. A cheque which is not crossed is called _______?
(a) Open cheque
(b) Bearer cheque
(c) Uncrossed cheque
(d) Order cheque
(e) None of the above

Q8. In Banking parlance, “Sub-Prime” refers to _______?
(a) Lending by Banks at rates below PLR   
(b) Funds raised by banks at sub-LIBOR rates   
(c) Group of banks which are not rated as Prime Banks as per Bankers’ Almanac  
(d) Lending done by Banks/Fls to customers not meeting with normally required credit appraisal standards
(e) None of the above

Q9. “Federal Reserve” is the Financial Organization of ______?
(a) The USA 
(b) The UK
(c) UAE  
(d) France  
(e) Japan

Q10. A charge where there is neither the transfer of ownership nor the possession is called ______?
(a) Hypothecation 
(b) Lien 
(c) Pledge
(d) Mortgage 
(e) None of the above

Q11. These days Banks are offering Loans against Property? Under which business segment, this activity may be categorized? 
(a) Corporate Banking  
(b) Personal Banking 
(c) Merchant Banking 
(d) Portfolio Management-Services 
(e) None of the above

Q12. What do we mean by “ECB” in financial terms?
(a) Essential Commercial Borrowings     
(b) Essential Credit & Borrowings  
(c) External Credit & Business 
(d) External Commercial Borrowings
(e) None of the above

Q13. “Currency Swap” is an instrument to manage ____?
(a) Currency Risk 
(b) Interest Rate Risk     
(c) Currency and Interest Rate Risk 
(d) Cash Flows in different currencies
(e) All of the above 

Q14. “Plastic Money” denotes ________?
(a) Bearer cheque
(b) Credit card   
(c) Demand Draft  
(d) Traveller’s cheque
(e) Gift cheque

Q15. RBI has recently introduced Cheque Truncation System, which means that ______?
(a) Physical movement of a cheque is stopped between banks and instead an electronic image be exchanged for clearance of funds    
(b) The physical movement of a cheque for clearance of funds be made more secure 
(c) Issue of cheques to customers be made more secure by introducing more enhanced security features 
(d) A new technology to process payments between Banks exclusively  
(e) None of the Above