Banking Awareness for IBPS RRB Mains 2016

Q1. RBI was established on ___________.
(a) April 1, 1925    
(b) April 1, 1935
(c) April 1, 1945     
(d) April 1, 1955
(e) None of the above
 Q2. Which among the following does the RBI not decide?
(a) CAR    
(b) CRR    
(c) Base Rate    
(d) Bank Rate
(e) None of the above 

Q3. What does ‘T’ in RTGS stand for?
(a) Transaction    
(b) Transfer    
(c) Tax    
(d) Time
(e) None of the above

Q4. In banking, IFSC code stands for_________________.
(a) International Format System Code 
(b) Indian Function System Code
(c) International Forex System Code
(d) Indian Financial System Code
(e) None of the above

Q5. If a customer does not get a satisfactory response to his grievance from the bank within _____ days, then he can approach the Banking Ombudsman.
(a) 60    
(b) 90    
(c) 30    
(d) 15  
(e) None of the above

Q6. Which of the following organizations is the Mutual Fund Market regulator?
(a) AMFI    
(b) SEBI 
(e) None of the above

Q7. Which of the following statements is incorrect regarding RTGS system?
(a) The transactions take place in real time
(b) The system operates on DNS (Deferred Net Settlement) basis
(c) The minimum amount that can be remitted is Rs. 2 lakh
(d) Service charges for RTGS transactions vary from one bank to another
(e) None of the above are correct

Q8. _____is the organization that maintains the borrower’s history in India.
(a) CRISIL    
(b) CIBIL   
(c) CARE    
(d) RBI
(e) None of the above 

Q9. RBI has directed commercial banks to resolve ATM transaction-related complaints within seven working days. If a commercial bank is unable to do so then it has to pay Rs.____ per day as compensation.
(a) 50    
(b) 100  
(c) 200    
(d) 225
(e) None of the above 

Q10. RTGS as well as NEFT uses-
(a) UTR Number    
(b) MICR    
(c) IFSC 
(d) DNS
(e) None of the above

Q11. Which of the following statement is incorrect about The Securities and Exchange Board of India (SEBI)?
(a) SEBI is a capital market regulator
(b) SEBI is the mutual fund regulator
(c) SEBI also regulates the credit rating agencies in India
(d) SEBI was established on April 12, 1992
(e) None of them is incorrect

Q12. What does liquidity mean?
(a) It means how cash is converted into gold
(b) It means how cheaply and quickly an asset is converted into cash
(c) It means how cash is converted into SDR (Special Drawing Rights)
(d) It means how uncertain the money market conditions are
(e) None of the above

Q13. SWIFT is a commonly used acronym in the banking industry. The ‘I’ in SWIFT stands for_______.
(a) Interbank  
(b) International    
(c) Intercom    
(d) Indian 
(e) None of the above

Q14. ________isn’t a method of measurement of National Income.
(a) Product method   
(b) Income method
(c) Investment method  
(d) Expenditure method
(e) None of the above

Q15. In India, the commercial banks are required to provide ____________ % of their ANBC (Adjusted Net Bank Credit) to priority sector. 
(a) 15    
(b) 25     
(c) 35    
(d) 40
(e) 55