Banking Quiz for IBPS Clerk Mains and IPPB Officers Exam

Dear Aspirants,

Banking Quiz for IBPS Clerk Mains and IPPB Officers Exam

With the increased competition in the field of banking examinations, it has now become very important to cover up all the sections efficiently. One subject that can help you bagging graceful marks in the minimum time in these examinations is Banking Awareness. Banking Awareness not only helps you deal with the General Awareness Section of Banking Exams but also, the Personal Interview round of Banking Recruitment.

Q1. Senior Citizen Saving Scheme (SCSS) is exclusively meant for people over the age of 60 years. They shall come into force on-
(a) August 2004
(b) August 2002
(c) August 2010
(d) August 2008
(e) August 2006

Q2. What is the maturity period of Senior Citizen Saving Scheme (SCSS)?
(a) 5 years
(b) 50 years
(c) 1 years
(d) 10 years
(e) 15 years

Q3. There are only four eligible categories of PSLCs i.e. PSLC General, PSLC Small and Marginal Farmer, PSLC Agriculture & PSLC Micro Enterprises. PSLC stands for-?
(a) Public Sector Lending Certificates 
(b) Priority Sector Lending Certificates
(c) Priority System Lending Certificates 
(d) Priority Service Lending Certificates 
(e) Priority Sector Lending Cash 

Q4. All PSLCs will expire on-
(a) 01st October
(b) 01st April
(c) 01st March
(d) 01st January
(e) 01st June

Q5. The guidelines specify that MCLR calculated using methodology prescribed shall correspond to the tenor of funds in the single largest maturity bucket provided it is more than 30% of the entire funds reckoned for determining the MCLR. What is the meaning of "M" in MCLR?
(a) Minimum
(b) Maturity
(c) Marginal
(d) Management
(e) None of the given options is true

Q6. What is the minimum tenure of gold deposits under Gold Monetization Scheme, 2015?
(a) Five year
(b) Two year
(c) One year
(d) Three year
(e) Four year

Q7. All Scheduled Commercial Banks excluding ________ are eligible to implement under Gold Monetization Scheme, 2015?
(a) Private Sector Banks
(b) IDBI Bank Limited
(c) State Bank of India
(d) Regional Rural Banks
(e) Public Sector Banks

Q8. BSBDA is a simple, basic account for routine banking transactions without the need of minimum balance requirement. BSBDA stands for-?
(a) Basic Savings Branch Deposit Account
(b) Balance Savings Bank Deposit Account
(c) Basic Savings Bank Demand Account
(d) Basic Savings Bank Deposit Account
(e) None of the given options is true

Q9. Which rate has replaced the erstwhile Benchmark Prime Lending Rate system with effect from July 1, 2010? 
(a) Marginal Rate system
(b) Bank Rate system
(c) Repo Rate system
(d) Open Rate system
(e) Base Rate system

Q10. Banks cannot accept interest free deposits other than in-
(a) Saving Account
(b) Recurring Deposit Account
(c) Fixed Deposit Account
(d) Nostro Account
(e) Current Account

Q11. NPCI is an umbrella organization for all retail payments system in India. It was set up with the guidance and support of the Reserve Bank of India (RBI) and Indian Banks’ Association (IBA). What does NPCI stands for-
(a) National Payments Corporation of Industry
(b) National Payments Council of India
(c) Nominal Payments Corporation of India
(d) National Payments Corporation of India
(e) National Product Corporation of India 

Q12. In Which among the following years NPCI was incorporated-
(a) December 2008
(b) January 2006
(c) April 2010
(d) July 2012
(e) None of the given options is true

Q13. The Bank for International Settlements (BIS) is the world's oldest international financial organisation. BIS was established on-
(a) 26th May 1961
(b) 01st October 1949
(c) 14th February 1914
(d) 21st August 1945
(e) 17th May 1930

Q14. Where is the head office of Bank for International Settlements (BIS)?
(a) Zurich, Switzerland
(b) New York, USA
(c) Basel, Switzerland
(d) Berlin, Germany
(e) Geneva, Switzerland

Q15. Under which act NPCI was incorporated as a Section 8?
(a) Banking Regulation Act, 1949
(b) Companies Act 2013
(c) Reserve Bank of India Act, 1934
(d) Societies Registration Act, 1860 
(e) None of the given options is true