Banking Awareness Questions for IBPS RRB PO and Clerk | 5th September 2018

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Banking Awareness Questions for IBPS RRB PO and Clerk | 5th September 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. DBOD is entrusted with the responsibility of regulation of commercial banks under the regulatory provisions contained in the Banking Regulation Act, 1949 and RBI Act, 1934 besides enunciation of banking policies. What is the full form of DBOD?
Department of Banking Operations & District
Department of Banking Operations & Development
Department of Banking Operations & Division
Department of Branches Operations & Development
Department of Banking Order & Development
Solution:
The Department of Banking Operations & Development or DBOD is entrusted with the responsibility of regulation of commercial banks under the regulatory provisions contained in the B.R. Act, 1949 and RBI Act, 1934 besides enunciation of banking policies.

Q2. The functions of DBOD is broadly relate to prescription of regulations for compliance with various provisions of Banking Regulation Act on establishment of banks such as-
Investments and loans
Maintenance of statutory liquidity
Issue of guidelines on Prudential Norms relating to Capital Adequacy
Management and operations
All of the given options are true
Solution:
The Department of Banking Operations & Development is entrusted with the responsibility of regulation of commercial banks under the regulatory provisions contained in the B.R. Act, 1949 and RBI Act, 1934 besides enunciation of banking policies. Its functions broadly relate to prescription of regulations for compliance with various provisions of Banking Regulation Act on establishment of banks such as licensing, branch expansion, maintenance of statutory liquidity, management and operations, amalgamation, reconstruction and liquidation of banking companies and issue of guidelines on Prudential Norms relating to Capital Adequacy, investments and loans. In order to achieve its objective, it has to maintain a flexible organizational set-up with activities in tune with the time.

Q3. CFRA is a unique document that incorporates comparable information relating to the accounts of the Union and all the States for a year, together with their balances and outstanding liabilities and other information relating to the financial health of the Union and the States. CFRA stands for-
Combined Finance and Revenue Accounts
Common Finance and Revenue Accounts
Combined Funding and Revenue Accounts
Combined Finance and Review Accounts
Combined Finance and Revenue Agency
Solution:
The Combined Finance and Revenue Accounts (CFRA) is a unique document that incorporates comparable information relating to the accounts of the Union and all the States for a year, together with their balances and outstanding liabilities and other information relating to the financial health of the Union and the States.

Q4. The CGRA is the unrealized gain/loss in the value of gold and foreign exchange RBI holds based on movements in their value which is not considered in the income account but taken as a balance-sheet item. What is the full form of CGRA?
Currency and Gold Revaluation Amount
Currency and Gold Registration Account
Current and Gold Revaluation Account
Currency and Gold Revaluation Account
Convertible and Gold Revaluation Account
Solution:
The Currency and Gold Revaluation Account (CGRA) is the unrealized gain/loss in the value of gold and foreign exchange RBI holds based on movements in their value which is not considered in the income account but taken as a balance-sheet item.

Q5. The __________________________ has the responsibility of administering the functions of currency management, a core function of the Reserve Bank in terms of the Reserve Bank of India Act, 1934.
Derivative of Currency Management
District of Currency Management
Department of Currency Management
Department of Currency Manager
Department of Current Management
Solution:
The Department of Currency Management has the responsibility of administering the functions of currency management, a core function of the Reserve Bank in terms of the Reserve Bank of India Act, 1934. Currency management essentially relates to issue of notes and coins and retrieval of unfit notes from circulation.

Q6. SDDS is an International Monetary Fund standard to guide member countries in the dissemination of national statistics to the public. SDDS stands for-
Special Data Dissemination Service
Special Data Dissemination Standard
Special Data Dissemination System
Special Durable Dissemination Standard
Simple Data Dissemination Standard
Solution:
Special Data Dissemination Standard (SDDS) is an International Monetary Fund standard to guide member countries in the dissemination of national statistics to the public.

Q7. ______________ is responsible for discharging certain core traditional central banking functions, viz., acting as bankers to the Government and banks and managing public debt of both, central and state governments.
CDBS
FISIM
DEIO
ECGC
DGBA
Solution:
The Department of Government and Bank Accounts (DGBA) is responsible for discharging certain core traditional central banking functions, viz., acting as bankers to the Government and banks and managing public debt of both, central and state governments. It is also responsible for maintenance of the Reserve Bank's internal accounts and compilation of its weekly and annual accounts.

Q8. The ______________________ exercises regulatory powers in respect of commercial banks, Local Area Banks (LABs) and Regional Rural Banks (RRBs) as per the provisions contained in the Banking Regulation Act, 1949, the Reserve Bank of India Act, 1934, the Regional Rural Banks Act, 1975 and other related statutes.
Department of Communication
Department of Co-operative Bank Supervision
Department of Government and Bank Accounts
Department of Banking Regulation
Department of Economic and Policy Research
Solution:
The Department of Banking Regulation exercises regulatory powers in respect of commercial banks, Local Area Banks (LABs) and Regional Rural Banks (RRBs) as per the provisions contained in the Banking Regulation Act, 1949, the Reserve Bank of India Act, 1934, the Regional Rural Banks Act, 1975 and other related statutes.

Q9. IFCI is an Indian government owned development bank to cater to the long-term finance needs the industrial sector. IFCI stands for-
Industrial Finance Company of India
Industrial Finance Corporation of Investment
Industrial Finance Corporation of India
International Finance Corporation of India
Industrial Fund Corporation of India
Solution:
The Government of India established The Industrial Finance Corporation of India (IFCI) on July 1, 1948 by way of an IFC Act 1948.

Q10. HUDCO was incorporated in which year?
1962
1970
1956
1948
1980
Solution:
HUDCO was incorporated on 25th April 1970.

Q11. IFCI was the first Development Financial Institution of India set up to propel economic growth through development of infrastructure and industry. IFCI established in-
1964
1956
1952
1950
1948
Solution:
The Government of India established The Industrial Finance Corporation of India (IFCI) on July 1, 1948 by way of an IFC Act 1948.

Q12. Where is the Corporate Office of Housing and Urban Development Corporation (HUDCO) Limited?
Chennai
Kolkata
Pune
New Delhi
Mumbai
Solution:
The Corporate Office of Housing and Urban Development Corporation Limited (HUDCO) is in New Delhi.

Q13. ITRS measures individual balance of payments cash transactions passing through the domestic banks and foreign bank accounts of enterprises, and noncash transactions and stock positions. ITRS stands for-
International transactions reporting scheme
International transactions reporting service
International transactions reporting system
International transactions reporting security
International transactions reporting solutions
Solution:
An International transactions reporting system (ITRS) measures individual balance of payments cash transactions passing through the domestic banks and foreign bank accounts of enterprises, and noncash transactions and stock positions.

Q14. IFAD is an international financial institution and a specialised agency of the United Nations dedicated to eradicating poverty and hunger in rural areas of developing countries. What is the full form of IFAD?
International Fund for Agricultural Department
International Fund for Agricultural Development
International Fund for Association Development
International Financial for Agricultural Development
Indian Fund for Agricultural Development
Solution:
The International Fund for Agricultural Development or IFAD is an international financial institution and a specialised agency of the United Nations dedicated to eradicating poverty and hunger in rural areas of developing countries.

Q15. Where is the Headquarters of IFAD?
Rome, Italy
New York, USA
Vienna, Austria
Paris, France
London, UK
Solution:
IFAD is an international financial institution and specialized United Nations agency based in Rome (Italy), the UN’s food and agriculture hub.

               




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