Banking Awareness Questions for IBPS RRBs PO and Clerk Mains 2017

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Banking Awareness for IBPS Exam 2017

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

Q1. Which Bank has launches 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 credit to farmers for 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 payWave 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 (IRDAI) 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. Infrastructure Finance Company (IFC) is a non-banking finance company has a minimum Net Owned Funds of-
(a) Rs.100 Crore
(b) Rs.200 Crore
(c) Rs.500 Crore
(d) Rs.300 Crore
(e) Rs.800 Crore

S6. Ans.(d)
Sol. Infrastructure Finance Company (IFC) is a non-banking finance company has a minimum Net Owned Funds of Rs.300 Crore.

Q7. Under which act NBFCs are incorporated?
(a) Banking Regulation Act, 1949
(b) Companies Act, 1956
(c) RBI Act 1934
(d) SBI Act 1955
(e) None of the given options is true

S7. Ans.(b)
Sol. NBFCs are incorporated under the Companies Act, 1956.

Q8. An NBFC must be registered with the _____________ and have specific authorization to accept deposits from the public.
(a) RBI
(b) SEBI
(c) NABARD
(d) SBI
(e) Government of India

S8. Ans.(a)
Sol. An NBFC must be registered with the Reserve Bank of India (RBI) and have specific authorization to accept deposits from the public.

Q9. RNBCs cannot accept deposits for a period less than _____ months and more than ______ months.
(a) 12, 84
(b) 14, 86
(c) 17, 92
(d) 24, 36
(e) 54, 95

S9. Ans.(a)
Sol. RNBCs cannot accept deposits for a period less than 12 months and more than 84 months.

Q10. RNBC stands for-
(a) Residuary Non-Banking Companies
(b) Reserve Non-Banking Companies
(c) Reserve New Banking Companies
(d) Re-curring New Banking Companies
(e) None of the given options is true

S10. Ans.(a)
Sol. RNBCs stands for Residuary Non-Banking Companies.

Q11. Which among the following banks has launched a Multi-currency Forex Card for overseas travellers recently?
(a) South Indian Bank
(b) ICICI Bank
(c) Kotak Mahindra Bank
(d) Standard Chartered Bank
(e) Yes Bank

S11. Ans.(d)
Sol. Standard Chartered Bank has launched a Multi-currency Forex Card for overseas travellers. The card will allow customers the convenience of loading up to 20 widely used currencies on one card with an online reload facility during overseas travel.

Q12. SIDBI has started full-fledged merchant banking operations to benefit the expanding number of growth-oriented MSMEs, especially those with a strong technology and innovation quotient. What is the meaning of "D" in SIDBI?
(a) Development
(b) Department
(c) District
(d) Doing
(e) None of the given options is true

S12. Ans.(a)
Sol. Small Industries Development Bank of India (SIDBI) has started full-fledged merchant banking operations to benefit the expanding number of growth-oriented micro, small and medium enterprises (MSMEs), especially those with a strong technology and innovation quotient.

Q13. Aurionpro Solutions a global leader in digital innovation, enterprise security and banking solutions, announced its Branch-in-a-Box product, the VTM a fully integrated self-service kiosk for automating 90% of banking transactions at the branch level. VTM stands for-
(a) Virtual Truncated Machine 
(b) Vehicle Teller Machine 
(c) Virtual Timer Machine 
(d) Virtual Teller Management 
(e) Virtual Teller Machine

S13. Ans.(e)
Sol. Aurionpro Solutions a global leader in digital innovation, enterprise security and banking solutions, announced its Branch-in-a-Box product, the Virtual Teller Machine (VTM) a fully integrated self-service kiosk for automating 90% of banking transactions at the branch level.

Q14. Reserve Bank of India (RBI) has set up Supervisory Colleges for six Scheduled Commercial Banks which have sizeable international presence recently. Which among the following Banks is not them?
(a) State Bank of India
(b) ICICI Bank Limited
(c) Indian Overseas Bank
(d) Bank of Baroda
(e) Axis Bank Limited

S14. Ans.(c)
Sol. Reserve Bank of India (RBI) has set up Supervisory Colleges for six Scheduled Commercial Banks which have the sizeable international presence: - State Bank of India, ICICI Bank Ltd., Bank of India, Bank of Baroda, Axis Bank Ltd. and Punjab National Bank.

Q15. Which Bank and Bajaj Allianz General Insurance have signed an agreement for the distribution of insurance products through the branches?
(a) Axis Bank
(b) Punjab National Bank
(c) Indian Bank
(d) Bank of Baroda
(e) ICICI Bank

S15. Ans.(b)
Sol. Punjab National Bank (PNB) and Bajaj Allianz General Insurance have signed an agreement for the distribution of insurance products through the branches.


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