Banking Awareness for IBPS RRB Mains 2016

Q1. To define a bank, the basic functions of a bank would be?
(a) Accepting Deposits    
(b) Social Upliftment 
(c) Lending Funds
(d) Both (a) and (c)
(e) All of the above  

Q2. The term “Floating Rupee” means _____?
(a) Limited Convertibility of Rupee 
(b) Removal of all controls on cross-movement of Foreign exchange on capital account
(c) Removal of all controls on cross-movement of Foreign exchange on Trade & Services
(d) Removal of controls on cross-movement of US Dollar against Indian Rupee on US- India Trade
(e) None of the Above

Q3. The DICGC covers Bank Deposits under its Deposit Insurance Scheme of the commercial banks and includes _______?
(a) Foreign Banks operating in India, 
(b) Regional Rural Banks
(c) Co-operative Banks
(d) Urban Co-operative Bank
(e) All of the Above

Q4. Certificate of Deposit can be issued by _____?
(a) Reserve Bank, NABARD and Exim Bank only  
(b) Commercial banks and term lending institutions 
(c) Scheduled commercial banks excluding regional rural banks     
(d) All of the above
(e) None of the above 

Q5. The minimum acceptable amount under the Certificate of Deposit is ____?
(a) Rs. 1 lakhs  
(b) Rs. 10 lakhs 
(c) Rs. 20 lakhs
(d) Rs. 25 lakhs
(e) None of the above

Q6. The Stock Exchange Board of India (SEBI) was set up by a Special Act in ____?
(a) 1988
(b) 1989
(c) 1987  
(d) 1990
(e) None of the above

Q7. Demand deposits mean _____?
(a) Deposits which can be on demand by the depositor
(b) Current deposits  
(c) Fixed deposits   
(d) Short deposits      
(e) None of the above 

Q8. What is Call Money”?
(a) Money borrowed and lent for overnight or a day
(b) Money borrowed for more than a day but upto 3 days     
(c) Money borrowed for more than a day but upto 7 days    
(d) Money borrowed for more than a day but upto 14 days 
(e) None of the above

Q9. Time deposits means _____?
(a) The deposits which are deposited in a bank for a fixed period 
(b) Time deposits include overdue fixed deposits 
(c) Time deposits do not include recurring deposits as well 
(d) Time deposits do not include deposits under Home Loan Account Scheme
(e) None of the above

Q10. Fixed deposits are for the bank ____?
(a) Demand liability
(b) Fixed asset 
(c) Time liability
(d) All of the above 
(e) None of the above 

Q11. The Negotiable Instruments Act deals with ____?
(a) Cheques, demand drafts, banker’s cheques
(b) Promissory notes, bills of exchange and cheques
(c) Bills of exchange, Cheques and demand drafts 
(d) Cheques, demand drafts and saving bank withdrawal forms  
(e) None of the above

Q12. “Muhammad Yunus” is associated with Banking Industry and is acclaimed for his contribution in the field of ____?
(a) Micro-finance
(b) Technological advancement 
(c) Consumer finance 
(d) Banking Reforms in Bangladesh 
(e) Low-cost housing  

Q13. A NBFC is prohibited to offer or undertake _____?
(a) accept demand deposits 
(b) accept time deposits   
(c) Lend long term loans  
(d) Pay a higher rate of interest on deposits as compared to Banks
(e) None of the Above 

Q14. Small Industries Development Bank of India (SIDBI) is wholly subsidiary of _____?
(a) RBI
(b) Exim Bank  
(d) IDBI
(e) None of the above 

Q15. Small Industries Development Bank of India’s Single Window scheme means that a borrower is granted _____?
(a) Both term loan for fixed assets and loan for working capital through the same agency, namely, SFCs or Commercial Banks 
(b) Both term and working capital through SIDBI itself     
(c) Both term loan and working capital through IDBI     
(d) All of the above 
(e) None of the above