Banking Awareness Questions for IBPS RRBs PO and Clerk Exam 2017

Dear Readers,

Banking-Awareness-Questions-for-IBPS-RRBs-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. Who has been appointed as the Managing Director and Chief Executive Officer of IDFC Bank with effect from July 16th 2017 for three years?
(a) Sunil Mehta
(b) Melwyn Rego 
(c) Rajkiran Rai G 
(d) Sunil Kakar
(e) Vikram Limaye

S1. Ans.(d)
Sol. IDFC Ltd announced the elevation of its CFO Sunil Kakar as the Managing Director and Chief Executive Officer of the company with effect from July 16th 2017 for three years. Mr. Kakar has also been appointed as additional director. Both the appointments are subject to shareholders' approval at the annual general meeting (AGM). Besides, the company announced that the Board has approved the resignation of veteran banker Vikram Limaye from the post of MD and CEO who is set to join leading stock exchange NSE as its new Managing Director and CEO. 

Q2. As per the amendment, the pecuniary jurisdiction of the Banking Ombudsman to pass an award has been doubled to _____ rupees. 
(a) 20 lakh rupees
(b) 10 lakh rupees
(c) 25 lakh rupees
(d) 50 lakh rupees
(e) 5 lakh rupees

S2. Ans.(a)
Sol. The central bank has extended the scope of Banking Ombudsman Scheme. As per RBI, under the amended scheme, a customer would also be able to lodge a complaint against the bank for its non-adherence to RBI instructions with regard to mobile banking/ electronic banking services in India. As per the amendment, the pecuniary jurisdiction of the Banking Ombudsman to pass an award has been doubled to 20 lakh rupees. The Reserve Bank extended the scope of Banking Ombudsman Scheme under which banks could be penalized for mis-selling third-party products like insurance and mutual funds via mobile or electronic banking.

Q3. Capital markets regulator SEBI has relaxed takeover norms for the acquisition of stressed assets of listed companies to help the government and the RBI in their efforts to tackle bad loans. What is the meaning of "B" in SEBI?
(a) Base
(b) Business
(c) Broker
(d) Bank
(e) Board

S3. Ans.(e)
Sol. Capital markets regulator, SEBI (Securities Exchange Board of India) relaxed takeover norms for the acquisition of stressed assets of listed companies to help the government and the RBI in their efforts to tackle bad loans. SEBI Chairman Ajay Tyagi took the decision after a board meeting in Mumbai.

Q4. Asian Infrastructure Investment Bank (AIIB) has approved USD 150 million equity investment loan to the India Infrastructure Fund. It is the bank's first such loan to fund private projects. AIIB based in-?
(a) France
(b) Australia
(c) China
(d) Germany
(e) USA

S4. Ans.(c)
Sol. China-led Asian Infrastructure Investment Bank (AIIB) has approved USD 150 million equity investment loan to the India Infrastructure Fund. It is the bank's first such loan to fund private projects.

Q5. World Bank's Board of Executive Directors has approved a loan assistance of __________ million dollars for the Assam State Public Finance Institutional Reforms (ASPIRe) Project.
(a) 103 million dollars 
(b) 44 million dollars
(c) 502 million dollars 
(d) 328 million dollars 
(e) 1005 million dollars

S5. Ans.(b)
Sol. World Bank's Board of Executive Directors has approved a loan assistance of 44 million dollars for the Assam State Public Finance Institutional Reforms (ASPIRe) Project. The loan was sanction by World Bank (International Bank for Reconstruction and Development) in its meeting held at Washington DC, USA.

Q6. The origin of the State Bank of India goes back to the first decade of the nineteenth century with the establishment of the Bank of Calcutta in Calcutta on-
(a) 05th October 1956
(b) 05th July 1859
(c) 07th August 1884
(d) 02st April 1921
(e) 02nd June 1806

S6. Ans.(e)
Sol. The origin of the State Bank of India goes back to the first decade of the nineteenth century with the establishment of the Bank of Calcutta in Calcutta on 2 June 1806. Three years later the bank received its charter and was re-designed as the Bank of Bengal (2 January 1809). A unique institution, it was the first joint-stock bank of British India sponsored by the Government of Bengal.

Q7. The Bank of Bombay (15 April 1840) and the Bank of Madras (1 July 1843) followed the Bank of Bengal. These three banks remained at the apex of modern banking in India till their amalgamation as the Imperial Bank of India on 27 January-
(a) 1961
(b) 1956
(c) 1949
(d) 1921
(e) 1934

S7. Ans.(d)
Sol. The Bank of Bombay (15 April 1840) and the Bank of Madras (1 July 1843) followed the Bank of Bengal. These three banks remained at the apex of modern banking in India till their amalgamation as the Imperial Bank of India on 27 January 1921.

Q8. With the merger in April 2017, State Bank of India has entered the league of 'Top 50 Global Banks' with a balance sheet size of-
(a) Rs. 54 trillion
(b) Rs. 32 trillion
(c) Rs. 41 trillion
(d) Rs. 67 trillion
(e) Rs. 52 trillion

S8. Ans.(c)
Sol. With the merger, State Bank of India has entered the league of 'Top 50 Global Banks' with a balance sheet size of Rs. 41 trillion. SBI was earlier placed at 54th rank globally but after the merging it moved to 44th position making it in the top 50 leading banks globally.

Q9. SBI was earlier placed at 54th rank globally but after the merging it moved to _______ position making it in the top 50 leading banks globally.
(a) 42nd
(b) 44th
(c) 47th
(d) 51st
(e) 40th

S9. Ans.(b)
Sol. With the merger, State Bank of India has entered the league of 'Top 50 Global Banks' with a balance sheet size of Rs. 41 trillion. SBI was earlier placed at 54th rank globally but after the merging it moved to 44th position making it in the top 50 leading banks globally.

Q10. What is the tagline of State Bank of India (SBI) after the merger?
(a) Banker to every Indian
(b) The Name you can Bank Upon
(c) A Faithful & Friendly Financial Partner
(d) Experience Next Generation Banking
(e) A Tradition of Trust

S10. Ans.(a)
Sol. After the merger the tagline of SBI has remained same i.e. "Banker to every Indian".

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 crore 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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