Banking Awareness Questions for IBPS PO and Clerk | 12th November 2018

Dear Aspirants,

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Banking Quiz for IBPS 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. 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.

Q2. ______________ 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.

Q3. 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.

Q4. 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.

Q5. HUDCO was incorporated in which year?
1962
1970
1956
1948
1980
Solution:
HUDCO was incorporated on 25th April 1970.

Q6. DCB Bank Limited is a private sector scheduled commercial bank in India. Where is the head office of DCB Bank Limited?
Bengaluru
Pune
New Delhi
Chennai
Mumbai
Solution:
DCB Bank Ltd. is a private sector scheduled commercial bank in India. The headoffice of DCB Bank Limited is in Mumbai.

Q7. The Federal Bank is a major Indian commercial bank headquartered in-
Thiruvananthapuram
Thrissur
Kozhikode
Kochi
Kannur
Solution:
The Federal Bank is a major Indian commercial bank headquartered in Aluva, Kochi, Kerala.

Q8. HDFC Bank Limited is an Indian banking and financial services company headquartered in-
Bengaluru
Pune
Mumbai
Chennai
New Delhi
Solution:
HDFC Bank Limited is an Indian banking and financial services company headquartered in Mumbai, Maharashtra.

Q9. RBL/Ratnakar Bank Limited is a scheduled commercial bank. Where is the Registered Office of RBL Bank Limited?
Nagpur
Kolhapur
Nashik
Pune
Mumbai
Solution:
Ratnakar Bank Limited is a scheduled commercial bank. Kolhapur, Maharashtra is the Registered Office of RBL Bank Limited.

Q10. Tamilnad Mercantile Bank Limited is a bank headquartered in-
Thoothukudi
Madurai
Salem
Tiruchirappalli
Vellore
Solution:
Tamilnad Mercantile Bank Limited is a bank headquartered at Thoothukudi, Tamil Nadu.

Q11. Bharat BillPay transaction can be initiated through multiple payment channels like-
Internet Banking
Mobile-Banking
Point of Sale terminal
Mobile Point of Sale terminal
All of the above
Solution:
Bharat BillPay transaction can be initiated through multiple payment channels like Internet, Internet Banking, Mobile, Mobile-Banking, POS (Point of Sale terminal), Mobile Wallets, MPOS (Mobile Point of Sale terminal), Kiosk, ATM, Bank Branch, Agents and Business Correspondents.

Q12. Which of the following is not an objective of IMPS?
To facilitate mobile payment systems already introduced in India with the Reserve Bank of India Mobile Payment Guidelines 2008 to be inter-operable across banks and mobile operators in a safe and secured manner
Making payment simpler just without the mobile number of the beneficiary
To enable bank customers to use mobile instruments as a channel for accessing their banks accounts and remit funds
To build the foundation for a full range of mobile based Banking services
To sub-serve the goal of Reserve Bank of India (RBI) in electrification of retail payments
Solution:
Objectives of IMPS is given below-
1. To enable bank customers to use mobile instruments as a channel for accessing their banks accounts and remit funds Making payment simpler just with the mobile number of the beneficiary
2. To sub-serve the goal of Reserve Bank of India (RBI) in electronification of retail payments
3. To facilitate mobile payment systems already introduced in India with the Reserve Bank of India Mobile Payment
4. Guidelines 2008 to be inter-operable across banks and mobile operators in a safe and secured manner
5. To build the foundation for a full range of mobile based Banking services.

Q13. MMID is a ____________ digit unique number issued by the bank upon registration.
7 digits
8 digits
9 digits
6 digits
4 digits
Solution:
Mobile Money Identifier (MMID) is a seven digit unique number issued by the bank upon registration.

Q14. MMID stands for-
Mobile Money Interface
Mobile Management Identifier
Mobile Money Identifier
Mutual Money Identifier
Mobile Money International
Solution:
MMID stands for Mobile Money Identifier.

Q15. *99#, a USSD based mobile banking service of NPCI was initially launched in-
November 2010
November 2012
November 2011
November 2013
November 2015
Solution:
*99#, a USSD based mobile banking service of NPCI was initially launched in November 2012.

               




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