Banking Awareness Questions for IBPS RRBs PO and Clerk Mains 2017

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Banking-Awareness-Questions-for-IBPS-RRBs-Exam-2017
Banking Awareness for IBPS Exam 2017

Just a few days are 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. What is the minimum tenure of gold deposits under Gold Monetization Scheme, 2015?
(a) Five year
(b) Two year
(c) One year
(d) Three year
(e) Four year

S1. Ans.(c)
Sol. The deposit will be made under Gold Monetization Scheme, 2015 with the designated banks for a short-term period of 1-3 years (with a rollover in multiples of one year) and will be treated as their on-balance sheet liability.

Q2. All Scheduled Commercial Banks excluding ________ are eligible to implement under Gold Monetization Scheme, 2015?
(a) Private Sector Banks
(b) IDBI Bank Limited
(c) State Bank of India
(d) Regional Rural Banks
(e) Public Sector Banks

S2. Ans.(d)
Sol. All Scheduled Commercial Banks excluding Regional Rural Banks (RRBs) are eligible to implement the Scheme.

Q3. BSBDA is a simple, basic account for routine banking transactions without the need of minimum balance requirement. BSBDA stands for-?
(a) Basic Savings Branch Deposit Account
(b) Balance Savings Bank Deposit Account
(c) Basic Savings Bank Demand Account
(d) Basic Savings Bank Deposit Account
(e) None of the given options is true

S3. Ans.(d)
Sol. Basic Savings Bank Deposit Account (BSBDA) a simple, basic account for routine banking transactions without the need of minimum balance requirement.

Q4. Which rate has replaced the erstwhile Benchmark Prime Lending Rate system with effect from July 1, 2010? 
(a) Marginal Rate system
(b) Bank Rate system
(c) Repo Rate system
(d) Open Rate system
(e) Base Rate system

S4. Ans.(e)
Sol. The Base Rate system has replaced the erstwhile Benchmark Prime Lending Rate system with effect from July 1, 2010. Base Rate shall include all those elements of the lending rates that are common across all categories of borrowers.

Q5. Banks cannot accept interest-free deposits other than in-
(a) Saving Account
(b) Recurring Deposit Account
(c) Fixed Deposit Account
(d) Nostro Account
(e) Current Account

S5. Ans.(e)
Sol. Banks cannot accept interest-free deposits other than in current account.

Q6. The Doing Business Report” is prepared by which of the following organizations every year?
(a) Asian Development Bank (ADB)
(b) World Bank (WB)
(c) New Development Bank (NDB)
(d) World Trade Organization (WTO)
(e) None of the given options is true

S6. Ans.(b)
Sol. The Doing Business Report (DB) is a study elaborated by the World Bank Group every year that is aimed to measure the costs to firms of business regulations. The study has become one of the flagship knowledge products of the World Bank Group in the field of private sector development, and is claimed to have motivated the design of several regulatory reforms in developing countries.

Q7. Which of the following cannot be called as a debt instrument as referred in financial transactions?
(a) Certificate of Deposits
(b) Bonds
(c) Stock
(d) Commercial Paper
(e) None of the given options is true

S7. Ans.(c)
Sol. Debt instruments are assets that require a fixed payment to the holder, usually with interest. Examples of debt instruments include bonds (government or corporate), mortgages, Commercial Paper and Certificate of Deposits.

Q8. Which of the following is not a type of cheque issued by an individual?
(a) Bearer Cheque
(b) Crossed Cheque
(c) Order Cheque
(d) Savings Cheque
(e) None of the given options is true

S8. Ans.(d)
Sol. An order cheque can be a bearer cheque if the words or bearer are not cancelled out. A crossed cheque is a cheque that has been marked to specify an instruction about the way it is to be redeemed.

Q9. “World Investment Report” is annually published by-
(a) IBRD
(b) WTO
(c) IMF
(d) UNCTAD
(e) ADB

S9. Ans.(d)
Sol. The World Investment Report has been published annually since 1991 by The United Nations Conference on Trade and Development (UNCTAD). Each year´s Report covers the latest trends in foreign direct investment around the World and analyses in depth one selected topic related to foreign direct investment and development.

Q10. Treasury bills are issued in India by ______
(a) RBI
(b) State Government
(c) Government of India
(d) SEBI
(e) NABARD

S10. Ans.(c)
Sol. Treasury bills (T-bills) offer short-term investment opportunities, generally up to one year. They are thus useful in managing short-term liquidity. At present, the Government of India issues three types of treasury bills through auctions, namely, 91-day, 182-day and 364-day. There are no treasury bills issued by State Governments.

Q11. Which of the following payments bank has announced a strategic partnership with Hindustan Petroleum Corporation Limited (HPCL) to give the further boost to digital payments in the country and add to customer convenience?
(a) Aditya Birla Nuvo
(b) Department of Posts
(c) Airtel Payments Bank
(d) FINO PayTech
(e) National Securities Depository

S11. Ans.(c)
Sol. Airtel Payments Bank, India’s first payments bank has announced a strategic partnership with Hindustan Petroleum Corporation Limited (HPCL) to give the further boost to digital payments in the country and to add to customer convenience.

Q12. Name the smartphone maker company, which has tied up with State Bank of India to store higher variants of SBI debit cards on the app.
(a) Samsung
(b) Motorola
(c) Apple
(d) Lava
(e) Sony

S12. Ans.(a)
Sol. Smartphone-maker Samsung, which recently launched its digital wallet app Samsung Pay in India, has tied up with State Bank of India to store higher variants of SBI debit cards on the app.

Q13. Karnataka Bank has raised interest rates on savings bank account for large balance above Rs 1 crore to 5% while for small balances below Rs 1 lakh, the bank has reduced it to 3%. Where is the corporate office of Karnataka Bank-?
(a) Mengaluru
(b) Bengaluru
(c) Mumbai
(d) Chennai
(e) Kochin

S13. Ans.(a)
Sol. Karnataka Bank has raised interest rates on savings bank account for large balance above Rs 1 crore to 5% while for small balances below Rs 1 lakh, the bank has reduced it to 3%. Earlier the private bank was charging 4% irrespective of the amount in the account. Karnataka Bank was incorporated in 1924 at Mangaluru.

Q14. Kotak Mahindra Bank has launched Kotak Remit— an Aadhaar-based integrated outward forex remittance solution for both customers and non-customers recently. Who is the Executive Vice Chairman and Managing Director of Kotak Mahindra Bank?
(a) VY Reddy
(b) Aditya Kapoor
(c) Shikha Sharma
(d) Uday Kotak
(e) Nita Ambani

S14. Ans.(d)
Sol. Kotak Mahindra Bank has launched Kotak Remit — an Aadhaar-based integrated outward forex remittance solution for both customers and non-customers. Mr Uday Kotak is the Executive Vice Chairman and Managing Director of Kotak Mahindra Bank.

Q15. From 01st September 2017 Punjab National Bank's customers will have to pay charges for depositing cash above _______ in a non-base branch even if it is located in the same city. 
(a) Rs. 15,000 
(b) Rs. 25,000 
(c) Rs. 5,000
(d) Rs. 10,000 
(e) Rs. 20,000 

S15. Ans.(c)
Sol. Come September, PNB customers will have to pay charges for depositing cash above Rs. 5,000 in a non-base branch even if it is located in the same city. Currently, the customers of Punjab National Bank have levied charges only for depositing cash over Rs. 25,000 at a non-base branch within the same city.


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