Banking Awareness Questions for IBPS RRBs PO and Clerk Exam 2017

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Banking Quiz for IBPS 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 among the following international organisation has announced its approval to a $329 million loan to build access roads across 4,000 villages in Gujarat recently?
(a) OPEC
(b) IMF
(c) AIIB
(d) ADB
(e) World Bank

S1. Ans.(c)
Sol. China-based Asian Infrastructure Investment Bank (AIIB) announced its approval to a $329 million loan to build access roads across 4,000 villages in Gujarat. The funds have been approved to construct road linkages for last-mile connectivity to schools and tribal areas in 33 districts of the state.

Q2. Takehiko Nakao is present president of-
(a) Asian Development Bank
(b) World Bank
(c) New Development Bank
(d) International Monetary Fund
(e) Asian Infrastructure Investment Bank

S2. Ans.(a)
Sol. Takehiko Nakao is present president of the Asian Development Bank.

Q3. Siemens AG opened its first digital factory in India, also the third globally after one each in Germany and China, as the industrial conglomerate pitches smart facilities to small and medium-scale enterprises in the country. Siemens AG based in-
(a) Canada
(b) France
(c) China
(d) Germany
(e) Japan

S3. Ans.(d)
Sol. Siemens AG opened its first digital factory in India, also the third globally after one each in Germany and China, as the industrial conglomerate pitches smart facilities to small and medium-scale enterprises in the country. Siemens AG is a German conglomerate company headquartered in Berlin and Munich and the largest industrial manufacturing company in Europe with branch offices abroad.

Q4. The Asian Development Bank (ADB) was conceived in the early __________ as a financial institution that would be Asian in character and foster economic growth and cooperation in one of the poorest regions in the world.
(a) 1950s
(b) 1960s
(c) 1940s
(d) 1970s
(e) 1980s

S4. Ans.(b)
Sol. The Asian Development Bank was conceived in the early 1960s as a financial institution that would be Asian in character and foster economic growth and cooperation in one of the poorest regions in the world.

Q5. Who is the present president of the Asian Infrastructure Investment Bank (AIIB)?
(a) Li Keqiang
(b) Wang Yi
(c) Xie Xuren 
(d) Lou Jiwei 
(e) Jin Liqun

S5. Ans.(e)
Sol. Jin Liqun is present president of the Asian Infrastructure Investment Bank (AIIB).

Q6. Which among the following bank has partnered with mobile payments switch TerraPay to enable real-time money transfer to bank accounts in India?
(a) Kotak Mahindra Bank
(b) Axis Bank
(c) Yes Bank
(d) ICICI Bank
(e) HDFC Bank

S6. Ans.(c)
Sol. Private sector lender Yes Bank has partnered with mobile payments switch TerraPay to enable real-time money transfer to bank accounts in India. Powered by TerraPay’s global clearing and settlement service, the partnership will make it faster and convenient for consumers to send money to any bank account.

Q7. Meghalaya government has signed two MoUs with the __________ as a part of an initiative towards migrating government transactions to digital mode. 
(a) Bank of Maharashtra
(b) Indian Bank
(c) Bank of Baroda
(d) Punjab National Bank
(e) State Bank of India

S7. Ans.(e)
Sol. Meghalaya government has signed two MoUs with the State Bank of India as a part of an initiative towards migrating government transactions to digital mode. With the implementation of the Goods and Services Tax(GST), these MoUs are expected to give dealers and other citizens the desired platform for conducting financial transactions with the state government on a digital platform.

Q8. An agreement for _________ Credit of USD 35 Million from World Bank for “Assam State Public Financial Institutional Reforms Project” was signed in New Delhi.
(a) International Bank for Reconstruction and Development (IBRD)
(b) International Centre for Settlement of Investment Disputes (ICSID)
(c) International Finance Corporation (IFC)
(d) Multilateral Investment Guarantee Agency (MIGA)
(e) International Development Association (IDA)

S8. Ans.(a)
Sol. An agreement for IBRD Credit of USD 35 Million from World Bank for “Assam State Public Financial Institutional Reforms Project” was signed in New Delhi. The agreement was signed by Shri Raj Kumar, Joint Secretary (MI), Department of Economic Affairs on behalf of the Government of India and Mr John Blomquist, Acting Country Director, World Bank (India) on behalf of the World Bank.

Q9. The Insurance Regulatory and Development Authority of India (IRDAI) has taken over the administration of Sahara India Life Insurance, a first of its kind move in the insurance sector. Sahara India Life Insurance based in-
(a) Jaipur
(b) Lucknow
(c) Patna
(d) Shimla
(e) New Delhi

S9. Ans.(b)
Sol. The Insurance Regulatory and Development Authority of India (IRDAI) has taken over the administration of Sahara India Life Insurance, a first of its kind move in the insurance sector. The administrator will act as per the powers and duties and applicable provisions. R.K. Sharma, general manager, IRDA has been appointed as the administrator with “immediate effect” to manage Sahara India Life Insurance Company. Lucknow-based Sahara India Life Insurance was the first wholly Indian owned life insurance company in the private sector.

Q10. The proposed merger between Aadhar Housing Finance and DHFL Vysya Housing Finance has hit the final lap with it got the nod from housing finance regulator National Housing Bank (NHB). NHB was set up on-
(a) 09th July 1982 
(b) 09th July 1992 
(c) 09th July 1999 
(d) 09th July 1988
(e) 09th July 1956

S10. Ans.(d)
Sol. The proposed merger between Aadhar Housing Finance and DHFL Vysya Housing Finance has hit the final lap with it got the nod from housing finance regulator National Housing Bank (NHB). Aadhar Housing Finance Chief Executive Officer Deo Shankar Tripathi stated that it had applied to National Company Law Tribunal (NCLT) for the next stage approval. NHB was set up on July 9, 1988, under the National Housing Bank Act, 1987.

Q11. What is the maximum period for which a term deposit can be normally opened?
(a) 8 years
(b) 7 years
(c) 9 years
(d) 10 years
(e) 12 years

S11. Ans.(d)
Sol. The tenure of a Fixed Deposit or Term Deposit can vary from 7, 15 or 45 days to 1.5 years and can be as high as 10 years.

Q12. A debt which is irrecoverable and is therefore written off as loss in the accounts of an institution or bank is known as __________
(a) external debt
(b) good debt
(c) bad debt
(d) internal debt
(e) None of the given options is true

S12. Ans.(c)
Sol. The term bad debts usually refer to accounts receivable (or trade accounts receivable) that will not be collected.

Q13. An account for which a bank acts as an uninterested third party is termed as?
(a) Savings Account
(b) Current Account
(c) Reserve Account
(d) Escrow Account
(e) Fixed Account

S13. Ans.(d)
Sol. An escrow account is a temporary pass through the account held by a third party during the process of a transaction between two parties. Definition: An escrow account is a temporary pass through the account held by a third party during the process of a transaction between two parties.

Q14. A signed undertaking from one party containing a promise to pay a stated sum to a specified person or a company is known as ________
(a) Power of Attorney
(b) Promissory Note
(c) Purchasing Power Parity
(d) Plastic Notes
(e) None of the given options is true

S14. Ans.(b)
Sol. A promissory note is a legal instrument in which one party (the maker or issuer) promises in writing to pay a determinate sum of money to the other (the payee).

Q15. Which of the following is defined as the difference between current assets and current liabilities?
(a) Venture Capital
(b) Working Capital
(c) Equitable Mortgage
(d) Loss Assets
(e) Profit and Loss Account

S15. Ans.(b)
Sol. The capital of a business (working capital) which is used in its day-to-day trading operations, calculated as the current assets minus the current liabilities.

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