Banking Awareness Questions for IBPS RRBs PO and Clerk Mains 2017

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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. Indian Bank has introduced two-tier interest rate structure for saving bank accounts and will offer the interest rate of 4 percent per annum on savings account with the incremental balance of over Rs 50 lakh and 3.50 percent per annum for the deposit up to Rs 50 lakh. Where is the headquarter of Indian Bank?
(a) Mumbai
(b) Bengaluru
(c) Hyderabad
(d) Chennai
(e) Kolkata

S1. Ans.(d)
Sol. According to the PSU lender Indian Bank, it has introduced two-tier interest rate structure for saving bank accounts and will offer the interest rate of 4 percent per annum on savings account with an incremental balance of over Rs 50 lakh and 3.50 percent per annum for the deposit up to Rs 50 lakh. The new interest rate will be effective from August 16, 2017. the headquarter of Indian Bank is in Chennai, Tamil Nadu.

Q2. ICICI Prudential Mutual Fund has launched a new website 'PlanYourGoal.com' to help users plan their investments according to their future financial goals. Who is the CEO of ICICI Bank?
(a) Chanda Kochhar
(b) Shikha Sharma
(c) Naina Lal Kidwai
(d) Uday Kotak
(e) Aditya Kapoor

S2. Ans.(a)
Sol. ICICI Prudential Mutual Fund has launched a new website 'PlanYourGoal.com' to help users plan their investments according to their future financial goals. CEO of ICICI Bank is Chanda Kochhar.

Q3. In which among the following cities, State Bank of India has successfully held two-day Home Loan Utsav recently?
(a) New Delhi
(b) Mumbai
(c) Mengaluru
(d) Chennai
(e) Bengaluru

S3. Ans.(e)
Sol. State Bank of India successfully held two-day Home Loan Utsav in Bengaluru. The loan Utsav saw title sponsor, GM Infinite. Subtitle sponsors, Brigade Group, Salarpuria Sattva and DSR Infra. The bank is offering a 0.25% concession in interest rate from the fourth year of the home loan if it is availed at the SBI Utsav. Those buying flats in real estate projects for which SBI has extended loans can avail home loans in four days.

Q4. NABARD has conferred the ‘best performance award’ for 2015-16 and 2016-17 to _______________ for its work in the field of credit-linking joint liability groups (JLGs).
(a) Uttarakhand Gramin Bank (UGB)
(b) Madhyanchal Gramin Bank (MGB)
(c) Karnataka Vikas Grameen Bank (KVGB)
(d) Madhya Bihar Gramin Bank (MBGB)
(e) Kashi Gomti Samyut Gramin Bank (KGSGB)

S4. Ans.(c)
Sol. National Bank for Agriculture and Rural Development (NABARD) has conferred the ‘best performance award’ for 2015-16 and 2016-17 to Karnataka Vikas Grameen Bank (KVGB) for its work in the field of credit-linking joint liability groups (JLGs).

Q5. State Bank of India has launched a CSR initiative, SBI Gram Seva, which will work in the areas of health, education, environment and rural infrastructure. CSR stands for?
(a) Commercial Social Responsibility
(b) Corporate Social Responsibility
(c) Corporate Social Resolution
(d) Corporate Special Responsibility
(e) Common Social Responsibility

S5. Ans.(b)
Sol. State Bank of India has launched a CSR (Corporate Social Responsibility) initiative, SBI Gram Seva, which will work in the areas of health, education, environment and rural infrastructure.

Q6. Which of the following is a receipt, declaring ownership of shares of a foreign company and can be listed in India and traded in rupees?
(a) ADR
(b) GDR
(c) IDR
(d) EDR
(e) None of the given options is true

S6. Ans.(c)
Sol. An IDR (Indian Depository Receipts)is a receipt, declaring ownership of shares of a foreign company. These receipts can be listed in India and traded in rupees.

Q7. What is the term for a bank without any branch network that offers its services remotely?
(a) Internet only Banks
(b) Direct Bank
(c) Lending Institution
(d) Indirect Bank
(e) Online Bank

S7. Ans.(b)
Sol. A direct bank is a bank without any branch network that offers its services remotely via online banking and telephone banking and may also provide access via ATMs (often through interbank network alliances), mail and mobile. By eliminating the costs associated with bank branches, direct banks can make significant savings which they may pass on to clients via higher interest rates or lower service charges.

Q8. The opening of branches by banks is governed by the provisions of Section _______ of the Banking Regulation Act, 1949. 
(a) Section 44
(b) Section 18
(c) Section 27
(d) Section 32
(e) Section 23

S8. Ans.(e)
Sol. The opening of branches by banks is governed by the provisions of Section 23 of the Banking Regulation Act, 1949. In terms of these provisions, banks cannot open a new place of business in India or abroad or change otherwise than within the same city, town or village, the location of the existing place of business without the prior approval of the Reserve Bank of India (RBI). Thus, it is mandatory for RRBs to seek prior approval/licence from Rural Planning and Credit Department (RPCD) of RBI before the opening of new branches/offices.

Q9. For expanding access to banking services, the RBI has advised banks to open branches with minimum infrastructure support of 8 to 10BC units at a reasonable 3-4km. Such branches are known as _______
(a) White Label ATMs
(b) Ultra Small Branches
(c) Banking Kiosks
(d) CBS Terminals
(e) ICT Hubs

S9. Ans.(b)
Sol. Ultra Small Branches may be set up between the base branch and BC locations so as to provide support to about 8-10 BC Units at a reasonable distance of 3-4 kilometres. These could be either newly set up or by conversion of the BC outlets. Such Ultra Small Branches should have minimum infrastructures such as a Core Banking Solution (CBS) terminal linked to a passbook printer and a safe for cash retention for operating large customer transaction and would have to be managed full time by bank officers/employees.

Q10. Which among the following conditions, Regional Rural Banks (RRBs) should fulfil to become eligible to open new branch/branches?
(a) No default in maintenance of SLR and CRR during the last two years
(b) Operational profits are being made
(c) Net worth shows improvement
(d) Net NPA ratio does not exceed 8 percent
(e) All of the above conditions should fulfil by RRBs

S10. Ans.(e)
Sol. RRBs should fulfil the following conditions, to become eligible to open new branch/es:
i. No default in maintenance of SLR and CRR during the last two years;
ii. Operational profits are being made;
iii. Net worth shows improvement;
iv. Net NPA ratio does not exceed 8 percent.

Q11. Which among the following bank has partnered with mobile payments switch TerraPay to enable real-time money transfer to bank accounts in India?
(a) Kotak Mahindra Bank
(b) Axis Bank
(c) Yes Bank
(d) ICICI Bank
(e) HDFC Bank

S11. Ans.(c)
Sol. Private sector lender Yes Bank has partnered with mobile payments switch TerraPay to enable real-time money transfer to bank accounts in India. Powered by TerraPay’s global clearing and settlement service, the partnership will make it faster and convenient for consumers to send money to any bank account.

Q12. Meghalaya government has signed two MoUs with the __________ as a part of an initiative towards migrating government transactions to digital mode. 
(a) Bank of Maharashtra
(b) Indian Bank
(c) Bank of Baroda
(d) Punjab National Bank
(e) State Bank of India

S12. Ans.(e)
Sol. Meghalaya government has signed two MoUs with the State Bank of India as a part of an initiative towards migrating government transactions to digital mode. With the implementation of the Goods and Services Tax(GST), these MoUs are expected to give dealers and other citizens the desired platform for conducting financial transactions with the state government on a digital platform.

Q13. An agreement for _________ Credit of USD 35 Million from World Bank for “Assam State Public Financial Institutional Reforms Project” was signed in New Delhi.
(a) International Bank for Reconstruction and Development (IBRD)
(b) International Centre for Settlement of Investment Disputes (ICSID)
(c) International Finance Corporation (IFC)
(d) Multilateral Investment Guarantee Agency (MIGA)
(e) International Development Association (IDA)

S13. Ans.(a)
Sol. An agreement for IBRD Credit of USD 35 Million from World Bank for “Assam State Public Financial Institutional Reforms Project” was signed in New Delhi. The agreement was signed by Shri Raj Kumar, Joint Secretary (MI), Department of Economic Affairs on behalf of the Government of India and Mr John Blomquist, Acting Country Director, World Bank (India) on behalf of the World Bank.

Q14. The Insurance Regulatory and Development Authority of India (IRDAI) has taken over the administration of Sahara India Life Insurance, a first of its kind move in the insurance sector. Sahara India Life Insurance based in-
(a) Jaipur
(b) Lucknow
(c) Patna
(d) Shimla
(e) New Delhi

S14. Ans.(b)
Sol. The Insurance Regulatory and Development Authority of India (IRDAI) has taken over the administration of Sahara India Life Insurance, a first of its kind move in the insurance sector. The administrator will act as per the powers and duties and applicable provisions. R.K. Sharma, general manager, IRDA has been appointed as the administrator with “immediate effect” to manage Sahara India Life Insurance Company. Lucknow-based Sahara India Life Insurance was the first wholly Indian owned life insurance company in the private sector.

Q15. The proposed merger between Aadhar Housing Finance and DHFL Vysya Housing Finance has hit the final lap with it got the nod from housing finance regulator National Housing Bank (NHB). NHB was set up on-
(a) 09th July 1982 
(b) 09th July 1992 
(c) 09th July 1999 
(d) 09th July 1988
(e) 09th July 1956 

S15. Ans.(d)
Sol. The proposed merger between Aadhar Housing Finance and DHFL Vysya Housing Finance has hit the final lap with it got the nod from housing finance regulator National Housing Bank (NHB). Aadhar Housing Finance Chief Executive Officer Deo Shankar Tripathi stated that it had applied to National Company Law Tribunal (NCLT) for the next stage approval. NHB was set up on July 9, 1988, under the National Housing Bank Act, 1987.


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