Banking Awareness Questions for IBPS RRBs Exam 2017

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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 RRBs PO and Clerk Mains. These Banking questions will also help you in preparing for other upcoming banking recruitment examination.

Q1. The Reserve Bank of India has allowed systematically important non-banking finance companies (NBFCs) to sell and market the NPS. NPS stands for-
(a) New Product Scheme
(b) Nominal Pension Scheme
(c) New Pension Service
(d) New Pension Scheme
(e) National Pension Scheme

S1. Ans.(d)
Sol. The Reserve Bank of India has allowed systematically important non-banking finance companies to sell and market the new pension scheme (NPS). 

Q2. Private life insurance Company Canara HSBC Oriental Bank of Commerce Life Insurance has entered into an alliance with the Kerala based _________ for marketing various life insurance products.
(a) Dhanlaxmi Bank
(b) Kotak Mahindra Bank
(c) South Indian Bank
(d) Vijaya Bank
(e) None of the given options is true

S2. Ans.(a)
Sol. Private life insurance company Canara HSBC Oriental Bank of Commerce Life Insurance has entered into an alliance with the Kerala based Dhanlaxmi Bank for marketing various life insurance products.

Q3. GMR Goa International Airports Ltd, a subsidiary of GMR Airports Ltd, has executed a debt facility agreement for the development of Greenfield airport at Mopa. The entire debt of Rs. 1,330 crore was underwritten by-
(a) Bank of Baroda
(b) SBI
(c) HDFC Bank
(d) ICICI Bank
(e) Axis Bank

S3. Ans.(e)
Sol. GMR Goa International Airports Ltd, a subsidiary of GMR Airports Ltd, has executed a debt facility agreement for the development of Greenfield airport at Mopa. The foundation stone for the project was subsequently laid by the Prime Minister, Narendra Modi, on November 13, 2016. The entire debt of Rs. 1,330 crore was underwritten by Axis Bank on a long tenor door to door basis of 18 years on competitive terms.

Q4. Nepal SBI Bank Ltd. (NSBL) a subsidiary of the State Bank of India has launched its fully automatic digital banking services in the Nepalese capital Kathmandu recently. NSBL was established in- 
(a) 1985
(b) 1993
(c) 1989
(d) 1999
(e) 1982

S4. Ans.(b)
Sol. Nepal SBI Bank Ltd. (NSBL) a subsidiary of the State Bank of India launched its fully automatic digital banking services in the Nepalese capital Kathmandu. This is for the first time the State Bank of India has expanded the paperless banking system outside India. NSBL was established in July 1993 and has emerged as one of the leading banks of Nepal, with 679 skilled and dedicated Nepalese employees working in 62 branches, 7 extension counters, 3 Regional Offices and Corporate Office.

Q5. Which organisation has amended its earlier order asking banks to initiate bankruptcy proceedings against 12 companies which have outstanding loans amounting to over Rs 5,000 crore as on March 2016?
(a) SEBI
(b) NABARD
(c) RBI
(d) SIDBI
(e) IBA

S5. Ans.(c)
Sol. The Reserve Bank of India (RBI) has amended its earlier order asking banks to initiate bankruptcy proceedings against 12 companies which have outstanding loans amounting to over Rs 5,000 crore as on March 2016.

Q6. Where is the Head Office of Dhanlaxmi Bank?
(a) Thrissur
(b) Kozhikode
(c) Kochi
(d) Kottayam
(e) Thiruvananthapuram

S6. Ans.(a)
Sol. Thrissur, Kerala is the Head Office of Dhanlaxmi Bank.

Q7. NBFC is a company registered under the Companies Act, 1956 of India. What is the meaning of "N" in NBFC?
(a) New
(b) Non
(c) National
(d) Next
(e) Nominal

S7. Ans.(b)
Sol. Non-Banking Financial Company (NBFC) is a company registered under the Companies Act, 1956 of India.

Q8. Who is the Managing Director and CEO of YES Bank?
(a) Aditya Sharma
(b) Uday Kotak
(c) Rana Kapoor
(d) Shikha Sharma
(e) None of the given options is true

S8. Ans.(c)
Sol. Rana Kapoor is the Managing Director and CEO of YES Bank.

Q9. Country's largest bank SBI has waived charges for fund transfer of up to Rs 1,000 through its IMPS to promote small transactions. IMPS stands for-
(a) Indian Payment Service
(b) International Payment Service
(c) Immediate Payment System
(d) Immediate Payment Service
(e) Immediate Product Service

S9. Ans.(d)
Sol. Country's largest bank SBI has waived charges for fund transfer of up to Rs 1,000 through its IMPS (Immediate Payment Service) to promote small transactions.

Q10. __________ is a single tax on the supply of goods and services, right from the manufacturer to the consumer.
(a) Excise Duty
(b) Sale Tax
(c) Direct Tax
(d) VAT Tax
(e) GST

S10. Ans.(e)
Sol. Goods and Services Tax (GST) is a single tax on the supply of goods and services, right from the manufacturer to the consumer.

Q11. Name the Private sector Bank, which has received $150 million funding from the US government and Wells Fargo to increase lending to support women entrepreneurs and small and medium-sized enterprises in India.
(a) Axis Bank
(b) ICICI Bank
(c) Yes Bank
(d) Kotak Mahindra Bank
(e) South Indian Bank

S11. Ans.(c)
Sol. Private sector YES Bank has received $150 million funding from the US government and Wells Fargo to increase lending to support women entrepreneurs and small and medium-sized enterprises in India.

Q12. What is the minimum amount to be remitted through RTGS-
(a) Rs.2 lakh 
(b) Rs.10 lakh 
(c) Rs.1 lakh 
(d) Rs.5 lakh 
(e) Rs.20 lakh

S12. Ans.(a)
Sol. The minimum amount to be remitted through RTGS is Rs2 lakh.

Q13. Which Bank has tied up with PFG Forex for remittance facility for the benefit of Indian expatriates from Australia. The new facility will leverage the bank to reach the Indian diaspora?
(a) Axis Bank
(b) ICICI Bank
(c) Bank of Baroda
(d) State Bank of India
(e) South Indian Bank

S13. Ans.(e)
Sol. South Indian Bank has tied up with PFG Forex for remittance facility for the benefit of Indian expatriates from Australia. The new facility will leverage the bank to reach the Indian diaspora.

Q14. FINO Payments Bank has commenced operations as a payments bank with effect from 30th June 2017 according to the Reserve Bank of India. Where is the head office of FINO Payments Bank?
(a) Chennai
(b) Jaipur
(c) Bengaluru
(d) Mumbai
(e) Chennai

S14. Ans.(d)
Sol. FINO Payments Bank has commenced operations as a payments bank with effect from 30th June 2017 according to the Reserve Bank of India. The Head Office of FINO PayTech Ltd. is in Mumbai and it was one of the 11 applicants which were issued the in-principle approval for setting up a payments bank.

Q15. The Financial Stability Board (FSB) is an international body for the global financial system, has placed India in the league of countries that are 'compliant or largely compliant’ on the implementation of priority area reforms. In which among the following year FSB was established?
(a) 2001
(b) 2009
(c) 2003
(d) 2015
(e) 1997

S15. Ans.(b)
Sol. The Financial Stability Board (FSB), an international body for the global financial system, has placed India in the league of countries that are 'compliant or largely compliant’ on the implementation of priority area reforms. Ahead of the G20 Summit in Germany to be attended by Prime Minister Narendra Modi, among other world leaders, the FSB has submitted its status report on progress in financial regulatory reforms in various jurisdictions, including India. The FSB was established in April 2009 as the successor to the Financial Stability Forum (FSF).

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