Banking Awareness Questions for Bank of India SO Exam | 7th June 2018

Dear Aspirants,

Banking Awareness Questions for Bank of India SO Exam | 7th June 2018
Banking Awareness for Bank of India SO Exam 2018

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 Quiz not only helps you deal with the General Awareness Section of Banking Exams but also, the Personal Interview round of Banking Recruitment.

Q1. The IFAD is an international financial institution and a specialized agency of the United Nations dedicated to eradicating poverty and hunger in rural areas of developing countries. IFAD stands for-
(a) International Fund for Agricultural Derivative 
(b) International Fund for Association Development 
(c) Indian Fund for Agricultural Development 
(d) International Fund for Agricultural Development
(e) International Financial for Agricultural Development

S1. Ans.(d)
Sol. The International Fund for Agricultural Development (IFAD) is an international financial institution and a specialized agency of the United Nations dedicated to eradicating poverty and hunger in rural areas of developing countries.

Q2. The EIB is the European Union's bank and it is the world’s largest multilateral borrower and lender. What is the meaning of "I" in EIB?
(a) Investment
(b) International
(c) Initially
(d) Installment
(e) Indian

S2. Ans.(a)
Sol. The European Investment Bank (EIB) is the European Union's bank. EIB is the only bank owned by and representing the interests of the European Union Member States. It is work closely with other EU institutions to implement EU policy.

Q3. Where is the head office of IFAD?
(a) Vienna, Austria
(b) London, UK
(c) Paris, France
(d) Berlin, Germany
(e) Rome, Italy

S3. Ans.(e)
Sol. The Head Office of International Fund for Agricultural Development (IFAD) is in Rome, Italy.

Q4. Where is the Headquarters of EIB?
(a) Italy
(b) UK
(c) Luxembourg
(d) Germany
(e) Switzerland

S4. Ans.(c)
Sol. The Headquarters of European Investment Bank (EIB) is in Luxembourg.

Q5. The Islamic Development Bank is a multilateral development financing institution located in-
(a) Muscat, Oman
(b) Jeddah, Saudi Arabia
(c) Kuwait City, Kuwait 
(d) Manama, Bahrain
(e) Doha, Qatar

S5. Ans.(b)
Sol. The Islamic Development Bank is a multilateral development financing institution located in Jeddah, Saudi Arabia.

Q6. Which of the following rates is decided by the market conditions and not by RBI?
(a) Bank rate
(b) SLR
(c) CRR
(d) Inflation rate
(e) MSF

S6. Ans.(d)
Sol. The inflation rate is not decided by RBI.

Q7. Proposals for setting up of new banks are under active consideration. Which organization gives this permission?
(a) RBI
(b) Indian Banks Association
(c) Finance Ministry
(d) Cabinet Committee on Economic Affairs
(e) SEBI

S7. Ans.(a)
Sol. Reserve Bank of India.

Q8. Basel norms are important international regulatory stipulations. It is meant for which sector?
(a) Insurance 
(b) Banking
(c) Micro Finance
(d) Pension funds
(e) Trade

S8. Ans.(b)
Sol. Basel norms are important international regulatory stipulations in Banking industry.

Q9. Which of the following institutions is not directly associated with the financial sector in India?
(a) Bombay Stock Exchange
(b) BIFR
(c) SEBI
(d) Planning Commission
(e) IBBI

S9. Ans.(d)
Sol. Planning Commission is not directly associated with the financial sector in India.

Q10. Which discussing investments there is mention of short-term government security. What is this type of investment known as?
(a) Debenture
(b) Mutual fund
(c) Treasury bill
(d) Share
(e) None of the given options is true

S10. Ans.(c)
Sol. Treasury Bills are short-term (up to one year) borrowing instruments of the Government of India which enable investors to park their short-term surplus funds while reducing their market risk. They are auctioned by Reserve Bank of India at regular intervals and issued at a discount to face value.

Q11. FICCI is the voice of India's business and industry. FICCI stands for-
(a) Federation of International Chambers of Commerce and Industry
(b) Foundation of Indian Chambers of Commerce and Industry
(c) Federation of Indian Chambers of Commerce and Industry
(d) Federation of Indian Common of Commerce and Industry
(e) Federation of Indian Chambers of Commerce and International

S11. Ans.(c)
Sol. The Federation of Indian Chambers of Commerce and Industry (FICCI) is an association of business organizations in India.

Q12. BRBNMPL is a wholly owned subsidiary of RBI which prints banknotes (Indian rupees) for the RBI. BRBNMPL stands for-
(a) Bharatiya Reserve Bank Note Mudran Private Limited
(b) Bharatiya Reserve Bank National Mudran Private Limited
(c) Bharatiya Reserve Bank Note Mudran Public Limited
(d) Bharatiya Reserve Bank Note Medium Private Limited
(e) Bharatiya Reserve Bank Note Management Private Limited

S12. Ans.(a)
Sol. Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL) is a wholly owned subsidiary of Reserve Bank of India which prints bank notes (Indian rupees) for the Reserve Bank of India (RBI). It was established in 1995 to address the demand of bank notes.

Q13. SIDBI is the principal development financial institution in India headquartered at Lucknow with branches all over India. What is the meaning of "S" in SIDBI?
(a) Short
(b) Scheme
(c) Securities 
(d) Small
(e) Stock

S13. Ans.(d)
Sol. Small Industries Development Bank of India (SIDBI) is the principal development financial institution in India headquartered at Lucknow with branches all over India.

Q14. What is the full form of CIBIL?
(a) Customer Information Bureau (India) Limited
(b) Credit Information Bureau (India) Limited
(c) Credit Industrial Bureau (India) Limited
(d) Credit Information Bank (India) Limited
(e) Credit Information Branch (India) Limited

S14. Ans.(b)
Sol. CIBIL stands for Credit Information Bureau (India) Limited.

Q15. TRAI is a statutory body set up by the Government of India. What is the meaning of "A" in TRAI?
(a) Applied
(b) Agency
(c) Assembly
(d) Association
(e) Authority

S15. Ans.(e)
Sol. The Telecom Regulatory Authority of India (TRAI) is a statutory body set up by the Government of India under section 3 of the Telecom Regulatory Authority of India Act, 1997.




         



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