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. __________ an asset, including a leased asset, becomes non­ performing when it ceases to generate income for the bank.
(a) NPA
(b) KCC
(c) NPV
(d) GDP
(e) GNP

S1. Ans.(a)
Sol. Non ­performing Assets (NPA) is an asset, including a leased asset, becomes non­ performing when it ceases to generate income for the bank.

Q2. NPA stands for- 
(a) National ­performing Assets 
(b) New ­performing Assets 
(c) Non ­production Assets 
(d) Non ­performing Assembly
(e) Non ­performing Assets

S2. Ans.(e)
Sol. NPA stands for Non ­performing Assets.

Q3. MUDRA is a financial institution has been set up by Government of India for development and refinancing micro units’ enterprises. What is the meaning of "A" in MUDRA?
(a) Agency
(b) Association
(c) Assembly
(d) Agent
(e) Alert

S3. Ans.(a)
Sol. MUDRA, which stands for Micro Units Development & Refinance Agency Ltd, is a financial institution being set up by Government of India for development and refinancing micro units’ enterprises.

Q4. MUDRA stands for- 
(a) Micro Units Development & Refinance Agent
(b) Medium Units Development & Refinance Association
(c) Micro Units Department & Refinance Agency 
(d) Micro Units Development & Refinance Agency
(e) Micro Unique Development & Refinance Assembly

S4. Ans.(d)
Sol. MUDRA, which stands for Micro Units Development & Refinance Agency Ltd, is a financial institution being set up by Government of India for development and refinancing micro units’ enterprises. It was announced by the Hon’ble Finance Minister while presenting the Union Budget for FY 2016. The purpose of MUDRA is to provide funding to the non-corporate small business sector through various Last Mile Financial Institutions like Banks, NBFCs and MFIs.

Q5. India was one of the first in Asia to recognize the effectiveness of the EPZ model in promoting exports. EPZ stands for-
(a) Export Point Zone
(b) External Processing Zone
(c) Export Production Zone
(d) Export Processing Zone
(e) Export Processing Zonal

S5. Ans.(d)
Sol. India was one of the first in Asia to recognize the effectiveness of the Export Processing Zone (EPZ) model in promoting exports, with Asia's first EPZ set up in Kandla, Gujarat in 1965.

Q6. The New Development Bank (NDB) aims to mobilize resources for development projects in BRICS, emerging economies and developing countries. Where is the headquartered of NDB?
(a) Durban, South Africa
(b) Brasilia, Brazil 
(c) Moscow, Russia
(d) Shanghai, China
(e) New Delhi, India

S6. Ans.(d)
Sol. Shanghai, China is the headquartered of New Development Bank (NDB).

Q7. With an initial funding of $912.7 million, International Development Association (IDA) was launched on-
(a) 24th September 1960
(b) 17th December 1920
(c) 22nd November 1959
(d) 23rd May 1919
(e) 15th October 1945

S7. Ans.(a)
Sol. With an initial funding of $912.7 million, IDA was launched on September 24, 1960 with 15 signatory countries - Australia, Canada, China, Germany, India, Italy, Malaysia, Norway, Pakistan, Sudan, Sweden, Thailand, United Kingdom, United States, and Vietnam.

Q8. NIBM was established in ____________________ by the Reserve Bank of India, in consultation with the Government of India, as an autonomous apex institution for research, training, education and consultancy in bank management.
(a) 1982
(b) 1949
(c) 1921
(d) 1934
(e) 1969

S8. Ans.(e)
Sol. National Institute of Bank Management (NIBM) was established in 1969 by the Reserve Bank of India, in consultation with the Government of India, as an autonomous apex institution for research, training, education and consultancy in bank management.

Q9. NIBM is part of the grand vision of giving a new direction to the banking industry in India and making the industry a more cost-effective instrument for national development. NIBM stands for-
(a) Non-Organisation Institute of Bank Management
(b) National Institute of Bureau Management 
(c) National Investment of Bank Management
(d) National Institute of Bank Management
(e) None of the given options is true

S9. Ans.(d)
Sol. NIBM stands for National Institute of Bank Management.

Q10. NIBM, an autonomous academic institution, is governed by a Board, its highest policy-making body. Where is the headquartered of NIBM?
(a) Nashik, Maharashtra
(b) Pune, Maharashtra
(c) Mumbai, Maharashtra
(d) Kolhapur, Maharashtra
(e) Nagpur, Maharashtra

S10. Ans.(b)
Sol. Pune, Maharashtra is the headquartered of National Institute of Bank Management (NIBM).

Q11. MUDRA gives loan in how many categories?
(a) Two
(b) One
(c) Three
(d) Four
(e) Six

S11. Ans.(c)
Sol. MUDRA gives loan in three categories. The categories have been named ‘Shishu’, ‘Kishor’ and ‘Tarun’.

Q12. Which among the following is not a loan category of MUDRA bank?
(a) Shishu
(b) Arun
(c) Kishor
(d) Tarun
(e) None of the given options is true

S12. Ans.(b)
Sol. Arun is not a loan category of MUDRA bank.

Q13. SEZs Policy was announced in _________ with the objective of making the SEZs an engine for economic growth, supported by quality infrastructure and an attractive fiscal package both at the Central and State level with a single window clearance.
(a) December 1999
(b) October 2010
(c) January 2005
(d) July 1991
(e) April 2000

S13. Ans.(e)
Sol. India was one of the first in Asia to recognize the effectiveness of the Export Processing Zone (EPZ) model in promoting exports, with Asia's first EPZ set up in Kandla, Gujarat in 1965. With a view to overcome the shortcomings experienced on account of the multiplicity of controls and clearances; absence of world-class infrastructure, and an unstable fiscal regime and with a view to attract larger foreign investments in India, the Special Economic Zones (SEZs) Policy was announced in April 2000.

Q14. The main objectives of the SEZ act are-
(a) Generation of additional economic activity 
(b) Promotion of exports of goods and services
(c) Promotion of investment from domestic and foreign sources 
(d) Creation of employment opportunities
(e) All of the above

S14. Ans.(e)
Sol. The main objectives of the SEZ Act are-
(a) Generation of additional economic activity
(b) Promotion of exports of goods and services;
(c) Promotion of investment from domestic and foreign sources;
(d) Creation of employment opportunities;
(e) Development of infrastructure facilities

Q15. With effect from 31 March 2005, a ______________ would be one, which has remained NPA for a period less than or equal to 12 months
(a) Sub­standard Assets
(b) Profit Assets
(c) Doubtful Assets
(d) Loss Assets
(e) None of the given options is true

S15. Ans.(a)
Sol. With effect from 31 March 2005, a sub­standard asset would be one, which has remained NPA for a period less than or equal to 12 months. In such cases, the current net worth of the borrower/guarantor or the current market value of the security charged is not enough to ensure recovery of the dues to the banks in full.

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