Banking Awareness Questions for IBPS RRBs PO and Clerk Exam 2017

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Banking Awareness 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. The FATF is an inter-governmental body. FATF stands for-
(a) Financial Action Task Forum
(b) Financial Action Task Fund
(c) Financial Action Time Force
(d) Financial Agency Task Force
(e) Financial Action Task Force

S1. Ans.(e)
Sol. The Financial Action Task Force (FATF) is an inter-governmental body.

Q2. ___________ is used to describe small loans granted to low-income individuals that are excluded from the traditional banking system.
(a) Industries credit
(b) Micro credit
(c) Small credit
(d) Farmer credit
(e) None of the given options is true

S2. Ans.(b)
Sol. Microcredit is used to describe small loans granted to low income individuals that are excluded from the traditional banking system. It is part of the larger microfinance industry, which provides not only credit, but also savings, insurance, and other basic financial services to the poor. The term ‘micro’ stems from the relatively small amounts of money that are being borrowed or saved.

Q3. In which among the following year FATF was established?
(a) 1978
(b) 1982
(c) 1995
(d) 1989
(e) 1962

S3. Ans.(d)
Sol. The Financial Action Task Force (FATF) is an inter-governmental body established in 1989 by the Ministers of its Member jurisdictions.

Q4. Which year was declared as the 'International Year of Microcredit' by United Nations?
(a) 2002
(b) 2009
(c) 2005
(d) 2011
(e) 2000

S4. Ans.(c)
Sol. Year 2005 was declared as the 'International Year of Microcredit' by United Nations.

Q5. The market in which long-term securities such as stocks and bonds are bought and sold is commonly known as-
(a) Bullion Market
(b) Capital Market
(c) Bull Market
(d) Money Market
(e) None of the given options is true

S5. Ans.(b)
Sol. A capital market is a financial market in which long-term debt or equity-backed securities are bought and sold.

Q6. An Agreement to exchange one currency with another, at a specific rate of exchange is known as-
(a) Currency Swap
(b) ECB
(c) Base Rate
(d) Bank Rate
(e) Import-Export

S6. Ans.(a)
Sol. An Agreement to exchange one currency with another, at a specific rate of exchange is known as Currency Swap.

Q7. Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL) was established as its wholly owned subsidiary on-
(a) 1988
(b) 1992
(c) 2002
(d) 1995
(e) 1999

S7. Ans.(d)
Sol. Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL) was established by Reserve Bank of India (RBI) as its wholly owned subsidiary on 3rd February 1995 with a view to augmenting the production of bank notes in India to enable the RBI to bridge the gap between the supply and demand for bank notes in the country.

Q8. The BRBNMPL has been registered as a _____________ under the Companies Act 1956.
(a) Public Limited Company
(b) Foreign Limited Company
(c) Private Limited Company
(d) All of the above
(e) None of the given options is true

S8. Ans.(c)
Sol. The BRBNMPL has been registered as a Private Limited Company under the Companies Act 1956 with its Registered and Corporate Office situated at Bengaluru. The company manages 2 Presses one at Mysore in Karnataka and the other at Salboni in West Bengal. The present capacity for both the presses is 16 billion note pieces per year on a 2-shift basis.

Q9. Which of the following is an instrument used in India to facilitate the access to foreign money by Indian corporations and PSUs?
(a) Currency Swap
(b) ECB
(c) Base Rate
(d) Bank Rate
(e) NRO 

S9. Ans.(b)
Sol. External Commercial Borrowing(ECB) is an instrument used in India to facilitate the access to foreign money by Indian corporations and PSUs.

Q10. Where is the Corporate Office of Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL)?
(a) Mumbai
(b) Kochin
(c) Chennai
(d) Hyderabad
(e) Bengaluru

S10. Ans.(e)
Sol. The BRBNMPL has been registered as a Private Limited Company under the Companies Act 1956 with its Registered and Corporate Office situated at Bengaluru.

Q11. 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

S11. 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.

Q12. 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

S12. Ans.(a)
Sol. Takehiko Nakao is present president of the Asian Development Bank.

Q13. 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

S13. 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.

Q14. 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

S14. 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.

Q15. 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

S15. Ans.(e)
Sol. Jin Liqun is present president of the Asian Infrastructure Investment Bank (AIIB).

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