Dear Aspirants,
Banking Awareness for SBI Clerk 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. _______________ 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.
(a) NBFC
(b) SEBI
(c) BCSBI
(d) DBOD
(e) IBBI
S1. Ans.(d)
Sol. The Department of Banking Operations & Development 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.
Sol. The Department of Banking Operations & Development 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.
Q2. The FSB was established in ____________ as the successor to the Financial Stability Forum (FSF).
(a) April 2009
(b) April 2011
(c) April 2007
(d) April 2013
(e) April 2005
S2. Ans.(a)
Sol. The FSB was established in April 2009 as the successor to the Financial Stability Forum (FSF).
Sol. The FSB was established in April 2009 as the successor to the Financial Stability Forum (FSF).
Q3. The FSB was established as the successor to the Financial Stability Forum (FSF). What is the meaning of “B” in FSB?
(a) Basel
(b) Bureau
(c) Banking
(d) Base
(e) Board
S3. Ans.(e)
Sol. The Financial Stability Board (FSB) was established in April 2009 as the successor to the Financial Stability Forum (FSF).
Q4. What is the full form of DBOD in Banking and Financial terms?
(a) Derivative of Banking Operations & Development
(b) Department of Bureau Operations & Development
(c) Department of Banking Operations & Development
(d) Department of Banking Organizations & Development
(e) Department of Board Operations & Development
S4. Ans.(c)
Sol. The Department of Banking Operations & Development (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. Its functions broadly relate to prescription of regulations for compliance with 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.
Sol. The Department of Banking Operations & Development (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. Its functions broadly relate to prescription of regulations for compliance with 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.
Q5. In which among the following city, The FSF was first convened-?
(a) New Delhi
(b) Washington
(c) New York
(d) Paris
(e) Geneva
S5. Ans.(b)
Sol. The FSF was first convened in April 1999 in Washington.
Q6. The Financial Stability Forum was a group consisting of major national financial authorities such as finance ministries, central bankers, and international financial bodies. Where is the headquarters of Financial Stability Forum?
(a) Beijing
(b) Vienna
(c) New York
(d) Paris
(e) Basel
S6. Ans.(e)
Sol. The Financial Stability Forum was a group consisting of major national financial authorities such as finance ministries, central bankers, and international financial bodies. the headquarters of Financial Stability Forum is in Basel, Switzerland.
Q7. What is the full form of NOFHC in Banking and Financial terms?
(a) Non-Operative Financial Holding Common
(b) Non-Operative Financial Holding Co-operative
(c) Non-Operative Financial Holding Corporation
(d) Non-Operative Financial Holding Company
(e) National Operator Financial Holding Company
S7. Ans.(d)
Sol. NOFHC stands for Non-Operative Financial Holding Company.
Sol. NOFHC stands for Non-Operative Financial Holding Company.
Q8. What is the meaning of “C” in SEAC?
(a) Corporation
(b) Commission
(c) Committee
(d) Co-Ordinator
(e) Common
S8. Ans.(c)
Sol. SEAC stands for Standing External Advisory Committee.
Sol. SEAC stands for Standing External Advisory Committee.
Q9. LTV ratio is a financial term used by lenders to express the ratio of a loan to the value of an asset purchased. What is the meaning of “V” in LTV?
(a) Voucher
(b) Value
(c) Vendor
(d) Vehicles
(e) Vacuum
S9. Ans.(b)
Sol. The loan-to-value (LTV) ratio is a financial term used by lenders to express the ratio of a loan to the value of an asset purchased.
Q10. _____________ is a system set up, operated and maintained by the Reserve Bank of India (hereinafter referred to as the ‘Bank’) to enable operations on current accounts maintained at various offices of the Bank, through standard message formats in a secure manner.
(a) SFMS
(b) CFMS
(c) SWIFT
(d) IDRBT
(e) EFT
S10. Ans.(b)
Sol. The Centralised Funds Management System (CFMS), is a system set up, operated and maintained by the Reserve Bank of India (hereinafter referred to as the ‘Bank’) to enable operations on current accounts maintained at various offices of the Bank, through standard message formats in a secure manner.
Sol. The Centralised Funds Management System (CFMS), is a system set up, operated and maintained by the Reserve Bank of India (hereinafter referred to as the ‘Bank’) to enable operations on current accounts maintained at various offices of the Bank, through standard message formats in a secure manner.
Q11. _______________ is a unique institution exclusively focused on Banking Technology.
(a) BCSBI
(b) SWIFT
(c) IBBI
(d) IDRBT
(e) EFT
S11. Ans.(d)
Sol. The Institute for Development & Research in Banking Technology (IBDRT) is a unique institution exclusively focused on Banking Technology.
Sol. The Institute for Development & Research in Banking Technology (IBDRT) is a unique institution exclusively focused on Banking Technology.
Q12. _________ is a secure messaging standard developed to serve as a platform for intra-bank and inter-bank applications.
(a) SFMS
(b) CFMS
(c) SWIFT
(d) IDRBT
(e) EFT
S12. Ans.(a)
Sol. Structured Financial Messaging System (SFMS) is a secure messaging standard developed to serve as a platform for intra-bank and inter-bank applications.
Sol. Structured Financial Messaging System (SFMS) is a secure messaging standard developed to serve as a platform for intra-bank and inter-bank applications.
Q13. What is the meaning of “C” in CFMS?
(a) Centralized
(b) Corporation
(c) Credit
(d) Commonly
(e) Cash
S13. Ans.(a)
Sol. The Centralised Funds Management System (CFMS), is a system set up, operated and maintained by the Reserve Bank of India (hereinafter referred to as the ‘Bank’) to enable operations on current accounts maintained at various offices of the Bank, through standard message formats in a secure manner.
Sol. The Centralised Funds Management System (CFMS), is a system set up, operated and maintained by the Reserve Bank of India (hereinafter referred to as the ‘Bank’) to enable operations on current accounts maintained at various offices of the Bank, through standard message formats in a secure manner.
Q14. _______________ is an open-ended Equity Mutual Fund that doesn’t just help you save tax, but also gives you an opportunity to grow your money. It qualifies for tax exemptions under section (u/s) 80C of the Indian Income Tax Act.
(a) CRR
(b) RTGS
(c) EFT
(d) LTV
(e) ELSS
S14. Ans.(e)
Sol. An Equity Linked Savings Scheme (ELSS) is an open-ended Equity Mutual Fund that doesn’t just help you save tax, but also gives you an opportunity to grow your money. It qualifies for tax exemptions under section (u/s) 80C of the Indian Income Tax Act.
Q15. What is the full form of IDRBT in Banking and Financial terms?
(a) Institute for Department and Research in Banking Technology
(b) Institute for Development and Research in Banking Technology
(c) Institute for Development and Research in Bureau Technology
(d) Institute for Development and Research in Board Technology
(e) Institute for Development and Reconstruction in Banking Technology
S15. Ans.(b)
Sol. IDRBT stands for Institute for Development and Research in Banking Technology.
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