Banking Awareness Questions for BOB PO & SBI PO Mains Exam

Dear Readers,

Just a few days are left for Bank of Baroda PO and NIACL Assistant Mains Examination. It is time to pace up your preparation of Banking Awareness for Bank of Baroda PO and NIACL Assistant Mains 2017. These Banking questions will also help you in preparing for SBI PO Mains 2017, Bank of IndiaRBI Grade-B and NICL AO Mains 2017 recruitment examination.

Q1. Which scheme/act has enables an expeditious and inexpensive forum to bank customers for resolution of complaints relating to certain services rendered by banks?
(a) Reserve Bank of India Act, 1934
(b) Banking Regulation Act, 1949
(c) Securitization Act 2002
(d) FEMA 
(e) Banking Ombudsman Scheme

Q2. The Banking Ombudsman Scheme is introduced by RBI with effect from- 
(a) 1991
(b) 1995
(c) 1990
(d) 2002
(e) 2006

Q3. The Banking Ombudsman is a senior official appointed by..............?
(a) Indian Government
(b) President of India
(c) Chief Justice of India
(d) Reserve Bank of India
(e) Finance Ministry

Q4. As on date, there are _________ Banking Ombudsman centre located in India.
(a) 20
(b) 19
(c) 18
(d) 17
(e) 16

Q5. The current Banking Ombudsman scheme has became operative from-
(a) January 2006
(b) September 2002
(c) January 1995
(d) February 2010
(e) None of the above

Q6. Which among the following complaint, the Banking Ombudsman can receive and consider any complain related to the efficiency in banking services?
(a) Non-payment or inordinate delay in the payment or collection of cheques, drafts, bills etc.
(b) Failure to issue or delay in issue of drafts, pay orders or bankers’ cheques.
(c) Delays, non-credit of proceeds to parties accounts, non-payment of deposit or non-observance of the Reserve Bank. 
(d) Levying of charges without adequate prior notice to the customer.
(e) All of the above

Q7. How much amount to be charged by the Banking Ombudsman for filing and resolving customers’ complaints?
(a) Rs. 10
(b) Rs. 50
(c) Rs. 1
(d) No fee
(e) Rs. 100

Q8. The Banking Ombudsman may award compensation not exceeding ___________________ to the complainant only in the case of complaints relating to credit card operations for mental agony and harassment.
(a) Rs 5 lakh
(b) Rs 10 lakh
(c) Rs 1 lakh
(d) Rs 15 lakh
(e) Rs 50 lakh

Q9. Which of the following is/are covered under the Banking Ombudsman Scheme 2006?
(a) Scheduled Commercial Banks
(b) Regional Rural Banks
(c) Scheduled Primary Co-operative Banks 
(d) All of the above
(e) None of the above

Q10. What is the maximum amount of compensation under the Banking Ombudsman Scheme 2006?
(a) Rs 10 lakh
(b) Rs 50 lakh
(c) Rs 1 lakh
(d) Rs 1 crore 
(e) No limit

Q11. If a complaint is not settled by an agreement within a period of _________ the Banking Ombudsman proceeds further to pass an award
(a) one month
(b) two month
(c) three month
(d) four month
(e) five month

Q12. If one is not satisfied with the decision passed by the Banking Ombudsman, one can approach the _____________ against the Banking Ombudsmen’s decision.
(a) Appellate Authority
(b) Finance Ministry
(c) Central Board of Direct Taxes (CBDT)
(d) Indian Banks' Association (IBA)
(e) None of the above

Q13. Appellate Authority is vested with a Deputy Governor of the RBI. Who is not a present Deputy Governor of the RBI?
(a) S. S. Mundra
(b) N. S. Vishwanathan
(c) Viral V. Acharya
(d) Urjit Patel
(e) B.P. Kanungo

Q14. Which among the following cities, Banking Ombudsman center is not located? 
(a) Patna, Bihar
(b) Jaipur, Rajasthan
(c) Bengaluru, Karnataka
(d) Lucknow, Uttar Pradesh
(e) Chennai, Tamil Nadu

Q15. The Banking Ombudsman Scheme is introduced under __________ of the Banking Regulation Act, 1949 by RBI.
(a) Section 17 A
(b) Section 53 A 
(c) Section 49 C
(d) Section 30 B

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