Banking Awareness Questions for IBPS RRBs PO and Clerk Mains 2017

Dear Readers,

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. Which bank has tied up with PFG Forex for remittance facility for the benefit of Indian expatriates from Australia recently?
(a) Punjab National Bank
(b) Bank of Baroda
(c) State Bank of India
(d) Kotak Mahindra Bank
(e) South Indian Bank

S1. Ans.(e)
Sol. South Indian Bank has tied up with PFG Forex for remittance facility for the benefit of Indian expatriates from Australia. The new facility will leverage the bank to reach the Indian diaspora.

Q2. The United Forum of Bank Unions has decided to observe July __________ the 48th anniversary of nationalisation of major banks, as ‘Save public sector banks’ day.
(a) July 18th 
(b) July 19th
(c) July 20th
(d) July 17th
(e) July 21st

S2. Ans.(b)
Sol. The United Forum of Bank Unions has decided to observe July 19, 2017, the 48th anniversary of nationalisation of major banks, as ‘Save public sector banks’ day. Members will wear a commemorative badge on the day, display posters in front of all branches, distribute leaflets and hold rallies/demonstrations at all centres across the country.

Q3. Indus OS has partnered with __________ to launch OS-integrated UPI payment platform in India.
(a) IDFC Bank
(b) Axis Bank
(c) ICICI Bank
(d) YES Bank
(e) HDFC Bank

S3. Ans.(d)
Sol. Indus OS has partnered with YES Bank to launch OS-integrated UPI (Unified Payment Interface) payment platform in India. Users with Indus OS will be able to use this UPI payment platform on SMS, dialler interface, and on third-party apps like WhatsApp. This means P2P transactions, as well as utility payments, can be made via SMS or messaging. The platform is expected to launch in this quarter.

Q4. Where is the headquarter of South Indian Bank?
(a) Thrissur
(b) Bengaluru
(c) Kochi
(d) Chennai
(e) Pune

S4. Ans.(a)
Sol. Headquarter of South Indian Bank is in Thrissur, Kerala.

Q5. __________ is a payment system launched by National Payments Corporation of India and regulated by the Reserve Bank of India which facilitates the instant fund transfer between two bank accounts on the mobile platform.
(a) NACH
(b) BHIM
(c) UPI
(d) CPI
(e) BBPS

S5. Ans.(c)
Sol. Unified Payments Interface (UPI) is a payment system launched by National Payments Corporation of India and regulated by the Reserve Bank of India which facilitates the instant fund transfer between two bank accounts on the mobile platform.

Q6. NPCI is an umbrella organization for all retail payments system in India. It was set up with the guidance and support of the Reserve Bank of India (RBI) and Indian Banks’ Association (IBA). What does NPCI stand for-
(a) National Payments Corporation of Industry
(b) National Payments Council of India
(c) Nominal Payments Corporation of India
(d) National Payments Corporation of India
(e) National Product Corporation of India

S6. Ans.(d)
Sol. National Payments Corporation of India (NPCI) is an umbrella organization for all retail payments system in India. It was set up with the guidance and support of the Reserve Bank of India (RBI) and Indian Banks’ Association (IBA).

Q7. In which among the following years NPCI was incorporated-
(a) December 2008
(b) January 2006
(c) April 2010
(d) July 2012
(e) None of the given options is true

S7. Ans.(a)
Sol. NPCI was incorporated in December 2008 and the Certificate of Commencement of Business was issued in April 2009. It was incorporated as a Section 25 company under Companies Act 1956 (now Section 8 of Companies Act 2013) and is aimed to operate for the benefit of all the member banks and their customers.

Q8. The Bank for International Settlements (BIS) is the world's oldest international financial organisation. BIS was established on-
(a) 26th May 1961
(b) 01st October 1949
(c) 14th February 1914
(d) 21st August 1945
(e) 17th May 1930

S8. Ans.(e)
Sol. Established on 17 May 1930, the Bank for International Settlements (BIS) is the world's oldest international financial organisation. The BIS has 60 member central banks, representing countries from around the world that together makeup about 95% of world GDP.

Q9. Where is the head office of Bank for International Settlements (BIS)?
(a) Zurich, Switzerland
(b) New York, USA
(c) Basel, Switzerland 
(d) Berlin, Germany
(e) Geneva, Switzerland

S9. Ans.(c)
Sol. Basel, Switzerland is the head office of Bank for International Settlements (BIS).

Q10. Under which act NPCI was incorporated as a Section 8?
(a) Banking Regulation Act, 1949
(b) Companies Act 2013
(c) Reserve Bank of India Act, 1934
(d) Societies Registration Act, 1860 
(e) None of the given options is true

S10. Ans.(b)
Sol. NPCI was incorporated as a Section 25 company under Companies Act 1956 (now Section 8 of Companies Act 2013) and is aimed to operate for the benefit of all the member banks and their customers.

Q11. The Head Quarters of SWIFT is located in-
(a) Bern, Switzerland
(b) La Hulpe, Belgium
(c) Geneva, Switzerland
(d) New York, USA
(e) Vienna Austria

S11. Ans.(b)
Sol. The Head Quarters of Society for Worldwide Interbank Financial Telecommunication(SWIFT)is located in La Hulpe, Belgium.

Q12. What is the initial capital amount to start Small Finance Banks?
(a) 100 crore
(b) 200 crore
(c) 500 crore
(d) 1000 crore
(e) 5000 crore

S12. Ans.(a)
Sol. The firms must have a capital of 100 crores to set up small finance banks.

Q13. The promoters of Small Finance Banks should have _______ experience in banking and finance?
(a) 08 years
(b) 11 years
(c) 07 years
(d) 10 years
(e) 15 years

S13. Ans.(d)
Sol. The promoters of Small Finance Banks should have 10 years experience in banking and finance.

Q14. Which of the following is the first Regional Rural Bank of India?
(a) AP Grameena Vikas Bank
(b) Chaitanya Godavari
(c) Andhra Pragathi
(d) Prathama Bank
(e) Baroda UP Gramin Bank

S14. Ans.(d)
Sol. Prathama Bank is the first Regional Rural Bank of India.

Q15. India Post Payments Bank (IPPB) has been recently incorporated as a Public Limited Company under the Department of Posts with _______ equity.
(a) 100% GOI equity
(b) 50% GOI and 50% RBI
(c) 50% GOI, 25% RBI, 25% Sponsor Bank
(d) 50% Sponsor Bank and 50% RBI
(e) 50% GOI, 35% RBI, 15% Sponsor Bank

S15. Ans.(a)
Sol. India Post Payments Bank(IPPB) has been recently incorporated as a Public Limited Company under the Department of Posts with 100% GOI equity.


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