Banking Awareness Questions for IBPS Clerk Mains 2017

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Banking Awareness Questions for IBPS Clerk Mains 2017
Banking Awareness for IBPS Exam 2017

Just a few days are left for IBPS Clerk Mains. It is time to pace up your preparation of Banking Awareness for IBPS SO and Clerk Mains. These questions related to Banking Awareness will also help you in preparing for other upcoming banking recruitment examination.

Q1. The “in-principle” approval for setting up ‘small finance banks’ granted by RBI will be valid for-
(a) 12 Months
(b) 24 Months
(c) 10 Months
(d) 18 Months
(e) 30 Months

S1. Ans.(d)
Sol. The “in-principle” approval granted will be valid for 18 months to enable the applicants to comply with the requirements under the Guidelines and fulfil other conditions as may be stipulated by the RBI.

Q2. Which of the following is an independent commodity exchange based in Mumbai?
(a) MGEX
(b) MCE
(c) MDEX
(d) MCX
(e) MEX

S2. Ans.(d)
Sol. Multi Commodity Exchange of India Ltd (MCX) is an independent commodity exchange based in India. It was established in 2003 and is based in Mumbai.

Q3. Which of the following is a pension scheme focused on the workers in the unorganised sector?
(a) SSY
(b) AMRUT
(c) APY
(d) PMAY
(e) None of the given options is true

S3. Ans.(c)
Sol. Atal Pension Yojna (APY) a guaranteed pension scheme administered by PFRDA and established by Government of India. This scheme mainly for workers in unorganised sector.

Q4. An Indian rupee denominated bond issued outside India is called-?
(a) Yankee bond
(b) Bulldog bond
(c) Uridashi bond
(d) Samurai bond
(e) Masala bond

S4. Ans.(e)
Sol. Masala bonds an Indian rupee denominated bond issued outside India.

Q5. Who among the following appoints the “Authorized Dealers” for foreign exchange transactions?
(a) GOI
(b) RBI
(c) PSBs
(d) FEDAI
(e) FIMMDA

S5. Ans.(d)
Sol. Foreign Exchange Dealer's Association of India (FEDAI) was set up in 1958 as an Association of banks dealing in foreign exchange in India (typically called Authorised Dealers - ADs) as a self regulatory body and is incorporated under Section 25 of The Companies Act, 1956. It's major activities include framing of rules governing the conduct of inter-bank foreign exchange business among banks vis-à-vis public and liaison with RBI for reforms and development of forex market.

Q6. SMERA Ratings Limited is a full service Credit Rating Agency, registered with-
(a) ECAI
(b) RBI
(c) SEBI
(d) NSIC
(e) NABARD

S6. Ans.(c)
Sol. SMERA Ratings Limited is a full service Credit Rating Agency, registered with the Securities and Exchange Board of India (SEBI), and accredited by Reserve Bank of India (RBI) as an External Credit Assessment Institution (ECAI), for Bank Loan Ratings under BASEL-II norms. SMERA is empanelled with National Small Industries Corporation (NSIC), the nodal agency of the Ministry of MSME, Government of India to provide SMERA-D&B-NSIC Micro & Small Enterprises Rating for MSEs in India. SMERA has assigned more than 44,000 ratings since inception.

Q7. Which of the following is India’s first Credit Information Company?
(a) CRISIL
(b) CIBIL
(c) SMERA
(d) CERSAI
(e) CARE

S7. Ans.(b)
Sol. TransUnion CIBIL Limited is India’s first Credit Information Company, also commonly referred as a Credit Bureau. It collect and maintain records of individuals’ and non-individuals’ (commercial entities) payments pertaining to loans and credit cards.

Q8. Which of the following is an apex financial institution for housing?
(a) AIFI
(b) NHB
(c) DFI
(d) SIDBI 
(e) NABARD

S8. Ans.(b)
Sol. NHB is an apex financial institution for housing. NHB has been established with an objective to operate as a principal agency to promote housing finance institutions both at local and regional levels.

Q9. NHB is wholly owned by ______
(a) GOI
(b) RBI
(c) SEBI
(d) NABARD
(e) Finance Ministry

S9. Ans.(b)
Sol. NHB is wholly owned by Reserve Bank of India.

Q10. The International Bank for Reconstruction and Development (IBRD) is an international financial institutions that offer loans to-
(a) Multinational Banks
(b) Multinational Financial Institutions
(c) Middle Income Developing Countries
(d) Non Government Organizations
(e) None of the given options is true

S10. Ans.(c)
Sol. The International Bank for Reconstruction and Development (IBRD) is an international financial institution that offers loans to middle-income developing countries.

Q11. The Reserve Bank of India (RBI) is to launch a financial literacy drive in 80 blocks in nine states on the pilot basis to educate people on e-transactions, formal sector borrowings and insurance purchases. What is the aim of this drive? 
(a) To inculcate the habit of making a household budget and recording financial transactions
(b) Encourage transactions in savings accounts
(c) Active saving by depositing in banks through fixed deposits and recurring deposits
(d) All of the above is the aim of this drive
(e) Refers to the efficient and effective management of money (funds) in such a manner as to accomplish the objectives

S11. Ans.(d)
Sol. The Reserve Bank of India (RBI) is to launch a financial literacy drive in 80 blocks in nine states on the pilot basis to educate people on e-transactions, formal sector borrowings and insurance purchases. The pilot project, according to RBI will be commissioned in the 9 states of Maharashtra, Chhattisgarh, Bihar, Odisha, Karnataka, Telangana, Andhra Pradesh, Haryana and Uttar Pradesh by the 6 NGOs in collaboration with the sponsor Banks. The aim of this drive is to inculcate the habit of making a household budget and recording financial transactions, encourage transactions in savings accounts, and active saving by depositing in banks through fixed deposits and recurring deposits.

Q12. Senior Citizen Savings Scheme (SCSS) Account is an individual of the Age of ________ or more may open the account.
(a) 60 years
(b) 55 years 
(c) 70 years 
(d) 50 years 
(e) 65 years

S12. Ans.(a)
Sol. Senior Citizen Savings Scheme (SCSS) Account- An individual of the Age of 60 years or more may open the account.

Q13. In the Fifth Bi-monthly Monetary Policy Statement 2017-18, the Monetary Policy Committee (MPC) has decided to keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at-? 
(a) 5.50 percent
(b) 5.75 percent
(c) 6.25 percent
(d) 6.50 percent
(e) 6.00 percent

S13. Ans.(e)
Sol. On the basis of an assessment of the current and evolving macroeconomic situation at its meeting, the Monetary Policy Committee (MPC) decided to keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.0 per cent in the Fifth Bi-monthly Monetary Policy Statement 2017-18.

Q14. RBI has notified that P2P lending platforms need to be regulated and treated on par with Non-Banking Financial Companies (NBFCs). P2P stands for-
(a) Product-to-Product
(b) Peer-to-Peer
(c) Person-to-Person
(d) Primary-to-Primary
(e) Priority-to-Priority

S14. Ans.(b)
Sol. After a year or more of due-diligence, the RBI has notified that peer-to-peer (P2P) lending platforms need to be regulated and treated on par with non-banking financial companies (NBFCs). The final regulatory framework for P2P lenders is still awaited. Few important P2P lending platforms in India are LenDen Club, Faircent, Qbera, Lendbox, Rupaiya Exchange and Monexo.

Q15. Which among the following organisation has allowed Infrastructure Investment Trusts (InvITs) and Real Estate Investment Trusts (REITs) to raise capital by issuing debt securities?
(a) SIDBI
(b) IRDAI
(c) SEBI
(d) NABARD
(e) RBI

S15. Ans.(c)
Sol. The Securities and Exchange Board of India (SEBI) allowed Infrastructure Investment Trusts (InvITs) and Real Estate Investment Trusts (REITs) to raise capital by issuing debt securities. The move will help attract investors to the capital-starved property sector. In addition to allowing bond issuances, SEBI also introduced the concept of strategic investor for REITs, similar to InvITs.


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