Banking Awareness Questions for IBPS RRBs Exam 2017

Dear Readers,

Banking-Awareness-Questions-for-IBPS-RRBs-Exam-2017

Just a few months are left for IBPS RRBs Mains It is time to pace up your preparation of Banking Awareness for IBPS RRB PO and Clerk Mains. These Banking questions will also help you in preparing for other upcoming banking recruitment examination.

Q1. Which Bank has launched 10-second paperless instant loan Scheme?
(a) HDFC
(b) SBI
(c) PNB
(d) IDBI
(e) ICICI

S1. Ans.(a)
Sol. HDFC Bank, India’s second-largest private sector lender has launched a 10-second paperless instant loan Scheme for its existing customers. The 10-second loan Scheme was launched as part of HDFC Bank’s digital banking platform GoDigital. With this, HDFC bank became first banking institution to completely automate the entire process of loan approval and disbursement.

Q2. Which among the following organisation to provide Rs 30,000 crore credit to farmers for irrigation?
(a) NABARD
(b) RBI
(c) SBI
(d) PNB
(e) SIDBI

S2. Ans.(a)
Sol. State-run National Bank for Agriculture and Rural Development (NABARD) has set a target of providing 30,000 crore rupees as the credit to farmers for the irrigational purpose. It was announced by Bank’s Chairman and Managing Director Dr Harsh Kumar Bhanwala in Mumbai on the occasion of 34th Foundation Day of NABARD.

Q3. Which of the following bodies regulates the Regional Rural Banks?
(a) Union Government
(b) SBI
(c) RBI
(d) NABARD
(e) SIDBI

S3. Ans.(d)
Sol. RRBs are regulated by NABARD. Other banks are regulated by RBI directly.

Q4. Which among the following banks has launched the First Multi-Currency Contactless Card service in India?
(a) HDFC Bank
(b) Axis Bank
(c) State Bank of India
(d) Punjab National Bank
(e) ICICI Bank

S4. Ans.(b)
Sol. India’s third largest private sector lender, Axis Bank has launched the first Contactless Debit, Credit and Multi-Currency Forex Card in association with VISA pay Wave in the country. Axis Bank will offer a contactless debit/credit cards to its 1.7 million premium customers which also enables withdrawal of 15 currencies via Multi-Currency Forex facility. To facilitate contactless cards operations bank will upgrade 50,000, of its point of sale (PoS) machines across the country.

Q5. Name the organisation, which has allows Banks to tie up with insurers?
(a) IRDAI
(b) RBI
(c) SBI
(d) World Bank
(e) SEBI

S5. Ans.(a)
Sol. The Insurance Regulatory and Development Authority of India (IRDA) has allowed banks to tie up with insurers. This decision was taken as part of the IRDAI’s new Bancassurance model guidelines which will be notified soon. Prior to this decision, banks were not allowed to have insurance agency tie-ups with more than one insurer. As per new decision banks can tie up with nine insurers from three segments viz. life, non–life and standalone health. It will not be binding on banks and they are free to take their call. Earlier, IRDAI had constituted a 7 member committee to study the reviewing of the existing architecture of the Bancassurance model.

Q6. ___________ to provide guaranteed clearing and settlement functions for transactions in Money, G-Secs, Foreign Exchange and Derivative markets.
(a) NPCI
(b) SEBI
(c) GOI
(d) RBI
(e) CCIL

S6. Ans.(e)
Sol. The Clearing Corporation of India Ltd. (CCIL) was set up in April, 2001 to provide guaranteed clearing and settlement functions for transactions in Money, G-Secs, Foreign Exchange and Derivative markets. The introduction of guaranteed clearing and settlement led to significant improvement in the market efficiency, transparency, liquidity and risk management/measurement practices in these market along with added benefits like reduced settlement and operational risk, savings on settlement costs, etc.

Q7. _________ will be authorised operational entities, adhering to the standards for facilitating bill payments online as well as through a network of agents, on the ground.
(a) BBPCU
(b) BBPOU
(c) Biller Payment
(d) Creditor
(e) Assets and Liabilities

S7. Ans.(b)
Sol. Bharat Bill Payment Operating Units (BBPOUs) will be authorised operational entities, adhering to the standards set by the BBPCU for facilitating bill payments online as well as through a network of agents, on the ground.

Q8. ___________ a/an electronic trading platform, operated by the Reserve Bank of India, used to facilitate the exchange of government securities and other money market instruments. 
(a) Delivery versus Payment (DvP)
(b) Negotiated Dealing System (NDS)
(c) Risk mitigation
(d) Competition Commission of India (CCI)
(e) None of the given options is true

S8. Ans.(b)
Sol. Till 2002, the Government securities market was mainly a telephone market. Buyers and sellers traded over the telephone and submitted physical Subsidiary General Ledger (SGL) transfer forms for transfer of the Government securities and cheques for settlement of the funds to the Reserve Bank of India. These manual operations were inefficient and often resulted in delays. In order to improve efficiency in the market, the Reserve Bank of India took steps to automate the process of trading and settlement of Government securities transactions and the Negotiated Dealing System (NDS) was introduced in February 2002.

Q9. The Clearing Corporation of India Ltd. (CCIL) was set up in-
(a) December 2010
(b) February 1995
(c) September 2006
(d) April 2001
(e) March 1999

S9. Ans.(d)
Sol. The Clearing Corporation of India Ltd. (CCIL) was set up in April 2001 to provide guaranteed clearing and settlement functions for transactions in Money, G-Secs, Foreign Exchange and Derivative markets.

Q10. Which of the following is the mode of settlement of securities where in the transfer of securities and funds happen simultaneously?
(a) Delivery versus Payment (DvP)
(b) Negotiated Dealing System
(c) Clearing Corporation of India Ltd. (CCIL)
(d) All of the Above
(e) None of the given options is true

S10. Ans.(a)
Sol. Delivery versus Payment (DvP) is the mode of settlement of securities where in the transfer of securities and funds happen simultaneously. This ensures that unless the funds are paid, the securities are not delivered and vice versa. DvP settlement eliminates the settlement risk in transactions.

Q11. Which of the following is the dimension of new 500 rupee note?
(a) 157 × 73 mm
(b) 66 × 150 mm
(c) 66 × 166 mm
(d) 147 × 73 mm
(e) None of the given options is true

S11. Ans.(b)
Sol. The dimension of new Indian 500-rupee banknote is 66×150 mm, Width–150mm & Height–66mm.

Q12. Which of the following is the base colour of 2000 rupee note?
(a) Stone Grey
(b) Green
(c) Orange – Violet
(d) Magenta
(e) Red – Orange

S12. Ans.(d)
Sol. The base colour of 2000 rupee note is Magenta.

Q13. Which of the following is the dimension of 2000 rupee note?
(a) 157 × 73 mm
(b) 66 × 150 mm
(c) 66 × 166 mm
(d) 147 × 73 mm
(e) None of the given options is true

S13. Ans.(c)
Sol. The dimension of Indian 2000-rupee banknote is 66 × 166 mm, Width – 166mm & Height – 66mm.

Q14. Which of the following is the colour of new 500 rupee note?
(a) Stone Grey
(b) Green
(c) Orange– Violet
(d) Magenta
(e) Red– Orange

S14. Ans.(a)
Sol. The colour of 500 rupee note is Stone Grey.

Q15. Which of the following features on the reverse of 2000 rupee note?
(a) Mangalyaan
(b) Himalaya Mountains
(c) Red Fort
(d) Parliament of India
(e) Tractor

S15. Ans.(a)
Sol. The reverse side of 2000 rupee note features Mangalyaan, India’s first interplanetary space mission.

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