IBPS RRB PO/Clerk Main Banking Awareness Quiz: 13th September 2019

With the increased competition in the field of banking examinationsit 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. When there is a difference between all receipts and expenditure of the Government of India both capital and revenue it is called?
(a) Revenue Deficit
(b) Budgetary Deficit
(c) Zero Budgeting
(d) Trade Gap
(e) Balance of Payment Problem

About Course:

"Did you Know? In this pack you will get All new content we launch in the next 3 months"
 

This is the most recommended and NRA-CET ready Pack!
 

Use Code 'DREAM' to avail at best price today

This package Includes IBPS PO Study Material -  Subscribe Now

About Bank Mahapack
If you are preparing for more than 1 Banking & Insurance exams then this is the pack we recommend you buy.

It is most cost effective and you get access to 100% digital content for Bank & Insurance exams on Adda247.

Banking & Insurance Exams Covered in this Pack

Additionally, you can crack any private bank job exam with content in this pack.

 

Bank & Insurance Mahapack Highlights 

  • Structured course content
  • Recorded classes available if you miss any live class
  • Previous Years’ Papers of all upcoming exams.
  • Full Length Mocks based on the latest pattern with detailed solutions (video solutions for certain topics)
  • Topic level knowledge tests
  • Strategy sessions, time management & Preparation tips from the experts

 

Validity: 3 Months

Note: This package is not a part of Double Validity Offer

Bank Maha Pack
  1. Unlimited Live Classes & Recorded Video Courses
  2. Unlimited Tests and eBooks
  3. 1 Lakh+ Selections
Validity
  1. 24 Months
  2. 1 Month
  3. 3 Months
6199 516/month
BUY NOW

S1. Ans.(b)
Sol. Budgetary deficit is the difference between all receipts and expenses in both revenue and capital account of the government. Budgetary deficit is the sum of revenue account deficit and capital account deficit. If revenue expenses of the government exceed revenue receipts, it results in revenue account deficit. Similarly, if the capital disbursements of the government exceed capital receipts, it leads to capital account deficit. Budgetary deficit is usually expressed as a percentage of GDP.

Q2. Which of the following is not the name of a bank functioning in India?
(a) Central Bank of India
(b) UCO Bank
(c) Aegon Religare
(d) Dena Bank
(e) ICICI Bank

S2. Ans.(c)
Sol. Aegon Life Insurance Company is an Indian life insurance provider founded in 2008 with headquarters in Mumbai.

Q3. Lack of access to financial services is technically known as-?
(a) Financial Instability
(b) Financial Stability
(c) Financial Inclusion
(d) Financial Exclusion
(e) Financial Poverty

S3. Ans.(d)
Sol. Financial Exclusion can be defined as the unavailability of banking services to people with low or non income.

Q4. Which of the following can be categories as a Merchant Banking service?
(a) Consultancy on finance to a company
(b) Advance in capital structure
(c) Managing mergers
(d) Helping in finalizing take over
(e) All of the above

S4. Ans.(e)
Sol. All of the above

Q5. What is the maturity period for senior citizen savings scheme?
(a) 3 years
(b) 5 years
(c) 2 years
(d) 7 years
(e) 4 years

S5. Ans.(b)
Sol. Senior Citizens Savings Scheme (SCSS) is a government-backed savings instrument offered to Indian residents aged over 60 years. The deposit matures after 5 years from the date of account opening but can be extended once by an additional 3 years. The SCSS interest rate for January to March 2019 has been set at 8.6%.

Q6. A crossed check is any check that is crossed with ___________ parallel lines, either across the whole check or through the top left-hand corner of the check.
(a) three
(b) one
(c) five
(d) two
(e) four

S6. Ans.(d)
Sol. A crossed check is any check that is crossed with two parallel lines, either across the whole check or through the top left-hand corner of the check. This symbol means that the check can only be deposited directly into a bank account and cannot be immediately cashed by a bank or any other credit institution.

Q7. Federal Bank is a Private Sector scheduled commercial bank. Where is the headquarters of Federal Bank?
(a) Telangana
(b) Andhra Pradesh
(c) Kerala
(d) Tamil Nadu
(e) Karnataka

S7. Ans.(c)
Sol. Federal Bank is a Private Sector, scheduled commercial bank in India, headquartered in Aluva, Kerala.

Q8. Who is primarily liable on a cheque?
(a) Drawee banker
(b) Drawer
(c) Payee
(d) Collecting banker
(e) None of the given options is true

S8. Ans.(b)
Sol. Drawer is primarily liable on a cheque.

Q9. Which of the following Indian banks have become the first banks to join SWIFT‘s global payments initiative?
(a) ICICI and HDFC Bank
(b) IndusInd Bank and SBI
(c) PNB and Federal Bank
(d) Axis Bank and ICICI
(e) ICICI and SBI

S9. Ans.(d)
Sol. ICICI Bank and Axis Bank are both the first Indian lenders to sign up for SWIFT’s global payments innovation initiative.

Q10. A Non-Banking Financial Company (NBFC) is a company registered under the Companies Act, 1956 engaged in-
(a) Business of loans and advances
(b) Acquisition of shares/stocks/bonds/debentures/securities issued by Government or local authority or other marketable securities of a like nature
(c) Insurance business
(d) All of the above
(e) None of the given options is true

S10. Ans.(d)
Sol. A Non-Banking Financial Company (NBFC) is a company registered under the Companies Act, 1956 engaged in the business of loans and advances, acquisition of shares/stocks/bonds/debentures/securities issued by Government or local authority or other marketable securities of a like nature, leasing, hire-purchase, insurance business, chit business but does not include any institution whose principal business is that of agriculture activity, industrial activity, purchase or sale of any goods (other than securities) or providing any services and sale/purchase/construction of immovable property.

Q11. Yeldi Softcom received a licence for RBI to set up which of the following?
(a) open wallet
(b) semi-closed wallet
(c) closed wallet
(d) semi-open wallet
(e) None of the given options is true

S11. Ans.(b)
Sol. Yeldi Softcom, a payment srervices company, announced that it has received semi-closed wallet licence today from the Reserve Bank of India (RBI).

Q12. The Kisan Credit Card Scheme is being implemented by all-?
(a) Co-operative Banks
(b) Regional Rural Banks
(c) Public Sector Banks
(d) All of the above
(e) None of the given options is true

S12. Ans.(d)
Sol. The Kisan Credit Card (KCC) scheme was announced in the Budget speech of 1998-99 to fulfil the financial requirements of the farmers at various stages of farming through institutional credit. The model scheme was prepared by the National Bank for Agriculture and Rural Development (NABARD) on the recommendation of V Gupta committee. The KCC scheme is being implemented by the all Co-operative banks, Regional Rural Banks and Public Sector Banks throughout the country.

Q13. According to the latest Financial Stability Report, RBI has undertaken enforcement action against seven banks (including a payments bank and a cooperative bank) and has imposed an aggregate penalty of Rs ___________ crore for a wide range of contraventions in the period between July 1, 2018 and October 31, 2018,
(a) Rs 20.20 crore
(b) Rs 18.20 crore
(c) Rs 16.20 crore
(d) Rs 14.20 crore
(e) Rs 25.20 crore

S13. Ans.(d)
Sol. The Reserve Bank of India has undertaken enforcement action against seven banks (including a payments bank and a cooperative bank) and has imposed an aggregate penalty of Rs 14.20 crore for a wide range of contraventions in the period between July 1, 2018 and October 31, 2018, according to the latest Financial Stability Report.

Q14. Demand draft is a-?
(a) not negotiable instrument
(b) not transferable instrument
(c) negotiable instrument
(d) Quasi-negotiable instrument
(e) None of the given options is true

S14. Ans.(c)
Sol. Demand draft is a negotiable instrument.

Q15. Bank of Baroda is an Indian multinational _________________________ banking and financial services company.
(a) Public Sector
(b) Regional Rural Banks
(c) Co-operative Banks
(d) Foreign Banks
(e) All of the above

S15. Ans.(a)
Sol. Bank of Baroda is an Indian multinational, public sector banking and financial services company. It is owned by Government of India.

Check the Video of Banking Awareness

You may also like to Read:
More questions of banking awareness for bank exams
More Current affairs questions

 

Get Free Study Material For IBPS RRB PO/Clerk Main 2019