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. NABARD was dedicated to the service of the nation by the late Prime Minister Smt. Indira Gandhi on-
(a) 12th July 1982
(b) 01st January 1949
(c) 19th July 1980
(d) 15th April 1969
(e) 05th November 1982

S1. Ans.(e)
Sol. NABARD came into existence on 12 July 1982 by transferring the agricultural credit functions of RBI and refinance functions of the then Agricultural Refinance and Development Corporation (ARDC). It was dedicated to the service of the nation by the late Prime Minister Smt. Indira Gandhi on 05 November 1982.

Q2. The mission of NABARD is Promote sustainable and equitable agriculture and rural prosperity through effective credit support, related services, institution development and other innovative initiatives. What is meaning of "R" IN NABARD?
(a) Regional
(b) Rural
(c) Reconstruction
(d) Revised
(e) Remittance

S2. Ans.(b)
Sol. The mission of NABARD is Promote sustainable and equitable agriculture and rural prosperity through effective credit support, related services, institution development and other innovative initiatives. NABARD stands for National Bank for Agriculture and Rural Development.

Q3. SAT is a statutory body established under the provisions of Section 15K of the Securities and Exchange Board of India (SEBI) Act, 1992. SAT stands for-
(a) Securities Appellate Tribunal
(b) Securities Appellate Treaty
(c) Securities Association Tribunal
(d) Saving  Appellate Tribunal
(e) None of the given options is true

S3. Ans.(a)
Sol. Securities Appellate Tribunal (SAT) is a statutory body established under the provisions of Section 15K of the Securities and Exchange Board of India Act, 1992 to hear and dispose of appeals against orders passed by the Securities and Exchange Board of India or by an adjudicating officer under the Act and to exercise jurisdiction, powers and authority conferred on the Tribunal by or under this Act or any other law for the time being in force.

Q4. The Securities and Exchange Board of India (SEBI) was established on- 
(a) 12th April 1999
(b) 12th April 1992
(c) 12th April 1949
(d) 12th April 1990
(e) 12th April 1995

S4. Ans.(b)
Sol. The Securities and Exchange Board of India (SEBI) was established on April 12, 1992 in accordance with the provisions of the Securities and Exchange Board of India Act, 1992.

Q5. NABARD was set up with an initial capital of-
(a) Rs 200 crore 
(b) Rs 1500 crore
(c) Rs 500 crore  
(d) Rs 100 crore
(e) Rs 1000 crore 

S5. Ans.(d)
Sol. NABARD was set up with an initial capital of Rs.100 crore, its’ paid up capital stood at Rs. 5,000 crore as on 31st March 2016.

Q6. Who is the first Governor of RBI? 
(a) C.D.Deshmukh
(b) James Braid Taylor 
(c) Osborne Smith 
(d) Raghuram Rajan
(e) None of the given options is true

S6. Ans.(c)
Sol. Sir Osborne Smith was the first Governor of the Reserve Bank. A professional banker, he served for over 20 years with the Bank of New South Wales and 10 years with the Commonwealth Bank of Australia before coming to India in 1926 as a Managing Governor of the Imperial Bank of India. He held from 01st April 1935 to 30th June 1937.

Q7. Scheduled Banks of India are those banks, which are? 
(a) Included in First Schedule of RBI Act, 1934 
(b) Not included in First Schedule of RBI Act, 1934 
(c) Included in Second Schedule of RBI Act, 1934 
(d) Not included in Second Schedule of RBI Act, 1934 
(e) None of the given options is true

S7. Ans.(c)
Sol. The scheduled commercial banks are those banks which are included in the second schedule of RBI Ac  1934. Scheduled Commercial Banks are grouped under following categories:
1. State Bank of India
2. Nationalised Banks
3. Foreign Banks
4. Regional Rural Banks
5. Other Scheduled Commercial Banks

Q8. Which of the following banks is not merged with SBI in April 2017
(a) State Bank of Bikaner & Jaipur 
(b) State Bank of Travancore 
(c) State Bank of Mysore 
(d) Axis Bank
(e) None of the given options is true

S8. Ans.(d)
Sol. Axis Bank Ltd is the third largest of the private-sector banks in India and it is not merged with SBI in April 2017.

Q9. Which of the following bank is not a private sector bank in India? 
(a) Federal Bank 
(b) Yes Bank 
(c) IndusInd Bank 
(d) UCO Bank
(e) None of the given options is true

S9. Ans.(d)
Sol. Founded in 1943, UCO Bank is a commercial bank and a Government of India Undertaking.

Q10. Which private sector bank is recently merged with Kotak Mahindra Bank (KMB)? 
(a) ING Vysya Bank 
(b) Karur Vysya Bank 
(c) Lakshmi Vilas Bank 
(d) Jammu and Kashmir Bank
(e) None of the given options is true

S10. Ans.(a)
Sol. ING Vysya Bank has successfully merged with Kotak Bank with effect from April 1, 2015, and will bear the name Kotak Mahindra Bank.

Q11. FICCI history is closely interwoven with India's struggle for independence, its industrialization, and its emergence as one of the most rapidly growing global economies. What is meaning of "F" in FICCI?
(a) Follower
(b) Federal
(c) Financial
(d) Federation
(e) None of the given options is true

S11. Ans.(d)
Sol. Established in 1927,  Federation of Indian Chambers of Commerce and Industry (FICCI) is the largest and oldest apex business organisation in India. Its history is closely interwoven with India's struggle for independence, its industrialization, and its emergence as one of the most rapidly growing global economies.

Q12. Who were the first Chairman and Managing Director (CMD) of Exim Bank?
(a) Ravneet Kaur
(b) TCA Ranganathan
(c) RC Shah
(d) Kalyan Banerji
(e) Yaduvendra Mathur

S12. Ans.(c)
Sol. Established by the Government of India, we commenced operations in 1982 under the Export-Import Bank of India Act, 1981 as a purveyor of export credit, mirroring global Export Credit Agencies. R.C. Shah was the first Chairman and Managing Director (CMD) from 1982 - 1985 of Exim Bank.

Q13. ECGC Ltd. wholly owned by Government of India, was set up in ______________ with the objective of promoting exports from the country by providing Credit Risk Insurance and related services for exports.
(a) 1935
(b) 1982
(c) 1964
(d) 1949
(e) 1957

S13. Ans.(e)
Sol. ECGC Ltd. (Formerly Export Credit Guarantee Corporation of India Ltd.), wholly owned by Government of India, was set up in 1957 with the objective of promoting exports from the country by providing Credit Risk Insurance and related services for exports.

Q14. ECGC is essentially an export promotion organization, seeking to improve the competitiveness of the Indian exporters by providing them with credit insurance covers. What is meaning of "G" in ECGC?
(a) Guarantee 
(b) General 
(c) Government
(d) Grameen
(e) None of the given options is true

S14. Ans.(a)
Sol. ECGC Ltd (Formerly Export Credit Guarantee Corporation of India Ltd.).

Q15. AIIB is a new multilateral financial institution founded to bring countries together to address the daunting infrastructure needs across Asia. AIIB stands for-
(a) Asian Infrastructure Investment Bureau
(b) Asian Infrastructure Investment Bank 
(c) Association Infrastructure Investment Bank 
(d) Asian International Investment Bank 
(e) None of the given options is true

S15. Ans.(b)
Sol. The Asian Infrastructure Investment Bank (AIIB) is a new multilateral financial institution founded to bring countries together to address the daunting infrastructure needs across Asia.

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