Banking Awareness for IBPS PO 2016


Q1. Who will settle the grievances of customers of banks?
(a) Reserve Bank of India
(b) State Bank of India
(c) Local Courts
(d) Ombuds Men
(e) Governor of RBI

Q2. The main function of commercial bank can be segregated into-------
I. payment system.
II. financial inter mediation.
III. financial services.
Select the correct answer using the codes given below
(a) All I, II and III
(b) Only I and III
(c) Only I and II 
(d) Only II and III
(e) None of the above

Q3. Money laundering normally involved?
(a) placement of funds
(b) layering of funds
(c) integrating of fund
(d) All of the above
(e) None of the above

Q4. Which of the following is the Central Bank of the country?
(a) RBI 
(b) SBI
(c) RRB 
(e) SEBI

Q5. For filing and resolving customer complaints, the Banking Ombudsman?
(a) charges a fee of Rs 500
(b) does not charge any fee
(c) charges a fee of Rs 1500
(d) charges a fee of Rs 1000
(e) None of the above

Q6. All of the following are examples of Quasi negotiable instruments, under the Negotiable Instrument Act, 1881, except.....?
(a) dividend warrants
(b) share warrants
(c) bearer debentures
(d) promissory note
(e) None of the above

Q7. Which of the following is not the essential requirement for the endorsement as per Negotiable Instrument Act, 1881?
(a) It should be on the instrument
(b) It should be made by the holder or the maker
(c) Signatures should be in ink and not by pencil or rubber stamp
(d) It should contain unconditional order
(e) The endorser should sign the endorsement in the same style and with the same spellings as written in the instrument

Q8. With reference to a cheque which of the following is the “drawee bank”?
(a) The bank that collects the cheque
(b) The payee's bank
(c) The endorsee's bank
(d) The endorser's bank
(e) The bank upon which the cheque is drawn

Q9. Which of the following is not a party of Bill of Exchange? 
(a) The drawer
(b) The drawee
(c) The payee
(d) The endorser
(e) None of the above

Q10. In terms of Section 5(1) (5) of the Banking Regulation Act, 1949, a ‘banking company’ means any company which...?
(a) accepts deposits from the public
(b) undertakes lending of money
(c) transacts the business of banking in
(d) All of the above
(e) None of the above

Q11. Which of the following products launched by most of the banks help farmers in getting instant credit for various agricultural purposes?
(a) Kisan Credit Card 
(b) Personal Loan 
(c) Business Loan 
(d) Only (a) and (b)
(e) None of the above

Q12. Which of the following policies of the financial sectors is basically designed to transferring local financial assets into foreign financial asset freely and at market determined exchange rates?
(a) Capital Accounts Convertibility 
(b) Financial Deficit Management 
(c) Minimum Support Price 
(d) All of the above 
(e) None of the above

Q13. A customer wishes to purchase some US dollars in India. He/she should go to?
(a) Public Debt Division of the RBI only 
(b) American Express Bank only 
(c) RBI or any branch of a bank which is authorized for such business
(d) Only (b) and (c) 
(e) None of the above

Q14. Which of the following products of a bank is specifically designed to provide financial help to children in their higher studies in India or in a foreign nation?
(a) Personal Loan 
(b) Corporate Loan 
(c) Educational Loan 
(d) Mortgage Loan
(e) None of the above

Q15. A Bank/Financial Organisation these days relies heavily on e-commerce for its transaction. As a part of system security, it has introduced organisation’s security awareness manual. This step of the organisation can be classified under which one of the following categories of measures for a business? 
(a) Preventive Vigilance
(b) Compliance 
(c) Corrective 
(d) Detective 
(e) None of the above


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