Banking Awareness Questions for IBPS RRB PO and Clerk | 28th August 2018

Dear Aspirants,

Banking Awareness Questions for IBPS RRB PO and Clerk | 20th August 2018
Banking Awareness for IBPS RRB PO and Clerk  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. United Bank of India is an Indian government-owned financial services company headquartered in Kolkata. What is the tagline of United Bank of India?
Your Own Bank
The nation banks on us
With you all the way
Pure banking Nothing else
The Bank that begins with 'U'
Solution:
The Bank that begins with 'U' is the tagline of United Bank of India.

Q2. What is the tagline of Dena Bank? 
Pure banking Nothing else
Where Service is a Way of Life
Your Tech Friendly Bank
Trusted Family Bank
Banking for all
Solution:
The tagline of Dena Bank is "Trusted Family Bank".

Q3. "Your Faithful And Friendly Financial Partner" is tagline of which Bank?
Indian Overseas Bank
Punjab National Bank
Syndicate Bank
Union Bank of India
Bank of Maharashtra
Solution:
"Your Faithful And Friendly Financial Partner" is tagline of Syndicate Bank.

Q4. "Honours Your Trust" is tagline of-
Andhra Bank
UCO Bank
Vijaya Bank
Union Bank of India
Bank of Maharashtra
Solution:
"Honours Your Trust" is tagline of of Kolkata Based UCO Bank.

Q5. Allahabad Bank is a nationalised bank with its headquarters in Kolkata, India. What is the tagline of Allahabad Bank?
A Tradition of Trust
Empowering Women, Empowering India
Together we can
Prosperity for all
Good people to Bank With
Solution:
Allahabad Bank is a nationalised bank with its headquarters in Kolkata, India. "A Tradition of Trust" is the tagline of Allahabad Bank.

Q6. In which situation does bank customer relationship cease?
When there are complaints from the customer
When the bank accept the complaint from the customer
When the customer is declared of unsound mind
All of the above
None of the given options is true
Solution:
In case of, When the customer is declared of unsound mind then bank customer relationship cease.

Q7. In case of cheque bouncing what is the permissible punishment?
Imprisonment
Fine equal to the value of bounced cheque
Fine equal to double the amount of bounced cheque
Monetary fine and imprisonment
None of the given options is true
Solution:
Monetary fine and imprisonment, In case of cheque bouncing is the permissible punishment.

Q8. What is the name given to deposit accounts in Indian banks of Indians who reside overseas?
Non-resident accounts
Non-resident ordinary account
Non-resident external account
Absentee Indian accounts
None of the given options is true
Solution:
Non-Resident bank accounts are those, which are maintained by Indian nationals and Persons of Indian origin resident abroad, foreign nationals and foreign companies in India.

Q9. Which organization pays the insurance premium for getting the bank deposits insured?
RBI
Individual banks
Account holders
There is no payment of premium
None of the given options is true
Solution:
Individual banks pays the insurance premium for getting the bank deposits insured.

Q10. How would you differentiate between a post office savings account and a savings bank account?
There is no cheque facility with post office savings accounts
There is no ATM of post offices
Banks can pay interest at rates decided by them while post offices have fixed rate of interest as decided by the government
Pass books are not issued by post offices
None of the given options is true
Solution:
Banks can pay interest at rates decided by them while post offices have fixed rate of interest as decided by the government.

Q11. In what way does an asset reconstruction company help banks?
By buying the non performing assets of banks
Acts as recovery agents for banks
Converts non performing assets into performing accounts
Helps in rehabilitation of weak accounts by rescheduling the repayment plans
None of the given options is true
Solution:
An Asset Reconstruction Company is a specialized financial institution that buys the NPAs or bad assets from banks and financial institutions so that the latter can clean up their balance sheets. Or in other words, ARCs are in the business of buying bad loans from banks.

Q12. What is the source of income for asset reconstruction companies?
The commission paid by banks
The fees charged from loan defaulters
The difference in amounts recovered from the accounts less the amount paid to the bank for buying the account
The retainer fees by the banks
None of the given options is true

Q13. There is frequent reference to CDR when nonperforming accounts of banks are discussed. What is the full form of CDR?
Corporate Default Regulations
Corporate Debt Restructuring
Corporate Debt Regulations
Civil Debt Regulations
None of the given options is true
Solution:
CDR stands for Corporate Debt Restructuring.

Q14. Number of public sector banks have opened special units known as MSME hubs. What are they meant for?
These are small and medium sized branches
These are meant for units in industrial areas
These hubs cater to specialized banking for micro, small and medium enterprises
These outlets specially are for schools and educational institutions
None of the given options is true
Solution:
These hubs cater to specialized banking for micro, small and medium enterprises.

Q15. What is meant by the merchant discount rate in respect of a credit card transaction?
Merchants are given special commission for promoting bank transactions
The bank commission charged from merchants who have point of sales terminals for card payments from customers
The one time fees charged for providing point of sales terminal to merchants/shopkeepers
The service tax payable by shops and merchant establishments having facility of card payments.
None of the given options is true
Solution:
Merchant Discount Rate- The bank commission charged from merchants who have point of sales terminals for card payments from customers.

               


    

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