Banking Awareness Questions for IBPS RRBs PO and Clerk Exam 2017

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Banking Awareness for IBPS 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. Softbank has made its biggest investment in an Indian digital enterprise by sealing a funding round of Rs 9,000 crore ($1.4 billion) in mobile payments provider Paytm. Softbank is based in-
(a) Austria
(b) Japan
(c) Hong Kong
(d) China
(e) Russia

S1. Ans.(b)
Sol. Softbank has made its biggest investment in an Indian digital enterprise by sealing a funding round of Rs 9,000 crore ($1.4 billion) in mobile payments provider Paytm.The Japanese internet and telecom conglomerate will now own about a fifth of the Noida-based company estimated to be worth $8 billion, making it the country’s second most valuable startup. This is the largest fund infusion by a single investor in an Indian startup and also Softbank's largest investment in a single company in India.

Q2. Which among the following banks has entered into a Memorandum of Understanding (MoU) with Life Insurance Corporation (LIC) of India for selling life insurance products of LIC?
(a) Kotak Mahindra Bank
(b) Axis Bank
(c) ICICI Bank
(d) State Bank of India
(e) Karnataka Bank

S2. Ans.(e)
Sol. Karnataka Bank Ltd has entered into a Memorandum of Understanding (MoU) with Life Insurance Corporation (LIC) of India for selling life insurance products of LIC.

Q3. HDFC Life has announced the launch of an artificial intelligence-based application 'SPOK' that can automatically read, understand, categorise, prioritise and respond to customer emails sent to the private insurer. Where is the corporate office of HDFC life?
(a) Nainital
(b) Jaipur
(c) Mumbai
(d) New Delhi
(e) Ahmedabad

S3. Ans.(c)
Sol. HDFC Life has announced the launch of an artificial intelligence-based application 'SPOK' that can automatically read, understand, categorise, prioritise and respond to customer emails sent to the private insurer. Mumbai is the corporate office of HDFC life.

Q4. Which bank has launched a new trading platform called “Selfie” for customers in association with Geojit?
(a) Federal Bank
(b) IDFC Bank
(c) Kotak Mahindra Bank
(d) HDFC Bank
(e) ICICI Bank

S4. Ans.(a)
Sol. Federal Bank, in association with Geojit, has launched a new trading platform called “Selfie” for customers. Designed and managed by Geojit, the trading platform will give its users absolute control over their investments with timely research inputs to make sound investment decisions.

Q5. _____________ and IFFCO rolled out their first set of co-branded debit cards for farmers as part of a novel initiative to push digitalisation and cashless economy.
(a) SIDBI
(b) SBI
(c) PNB
(d) BOB
(e) NABARD

S5. Ans.(d)
Sol. Bank of Baroda (BOB) and IFFCO has rolled out their first set of co-branded debit cards for farmers as part of a novel initiative to push digitalisation and cashless economy. Both the organisations in February 2017 entered into a memorandum of understanding (MoU) in this regard. The co-branded debit cards, with the inbuilt overdraft of Rs. 2,500 in special savings bank account, could be used for the purchase of various agri products at IFFCO sale counters.

Q6. The Reserve Bank of India (RBI) has granted “in-principle” approval to the ________  applicants to set up small finance banks under the “Guidelines for Licensing of Small Finance Banks?
(a) 11
(b) 12
(c) 13
(d) 10
(e) 15

S6. Ans.(d)
Sol. The Reserve Bank of India (RBI) has decided to grant “in-principle” approval to the following 10 applicants to set up small finance banks under the “Guidelines for Licensing of Small Finance Banks in the private sector” (Guidelines) issued on November 27, 2014.
Names of selected applicants
1. Au Financiers (India) Ltd., Jaipur
2. Capital Local Area Bank Ltd., Jalandhar
3. Disha Microfin Private Ltd., Ahmedabad
4. Equitas Holdings P Limited, Chennai
5. ESAF Microfinance and Investments Private Ltd., Chennai
6. Janalakshmi Financial Services Private Limited, Bengaluru
7. RGVN (North East) Microfinance Limited, Guwahati
8. Suryoday Micro Finance Private Ltd., Navi Mumbai
9. Ujjivan Financial Services Private Ltd., Bengaluru
10. Utkarsh Micro Finance Private Ltd., Varanasi

Q7. The minimum paid-up equity capital for small finance banks shall be----------
(a) Rs. 100 crore
(b) Rs. 200 crore
(c) Rs. 300 crore
(d) Rs. 400 crore
(e) Rs. 500 crore

S7. Ans.(a)
Sol. The minimum paid-up equity capital for small finance banks shall be Rs. 100 crore.

Q8. Reserve Bank of India has granted the in-principle licence for small finance banks. The in-principle approval granted by RBI will be valid for a period of ________ months.
(a) 24 months
(b) 10 months
(c) 18 months
(d) 50 months
(e) 12 months

S8. Ans.(c)
Sol. Reserve Bank of India has granted the in-principle licence for small finance banks to ten entities. The in-principle approval granted by RBI will be valid for a period of 18 months.

Q9. Where is the headquarter of AU Small Finance Bank?
(a) Jalandhar, Punjab
(b) Ahmedabad, Gujarat
(c) Guwahati, Assam
(d) Bengaluru, Karnataka
(e) Jaipur, Rajasthan

S9. Ans.(e)
Sol. Jaipur, Rajasthan is headquartered of AU Small Finance Bank.

Q10. RBI was granted a licence to small Finance Banks for the commencement of banking business under Section ______ of the Banking Regulation Act, 1949.
(a) Section 38(3)
(b) Section 22(1)
(c) Section 47(4)
(d) Section 12(2)
(e) Section 27(5)

S10. Ans.(b)
Sol. RBI was granted a licence to small Finance Banks for the commencement of banking business under Section 22(1) of the Banking Regulation Act, 1949.

Q11. ECGC Limited (Export Credit Guarantee Corporation of India Ltd) is a company wholly owned by?
(a) RBI
(b) Government of India
(c) IRDAI
(d) NABARD
(e) Finance Ministry

S11. Ans.(b)
Sol. ECGC Ltd. (Formerly Export Credit Guarantee Corporation of India Ltd.), wholly owned by Government of India, was set up in 1957 with the objective of promoting exports from the country by providing Credit Risk Insurance and related services for exports. It functions under the administrative control of Ministry of Commerce & Industry and is managed by a Board of Directors comprising representatives of the Government, Reserve Bank of India, banking, and insurance and exporting community. Over the years it has designed different export credit risk insurance products to suit the requirements of Indian exporters and commercial banks extending export credit.

Q12. The Headquarters of Kotak Mahindra Bank is located in _______
(a) Mumbai
(b) Hyderabad
(c) Chennai
(d) Bengaluru
(e) New Delhi

S12. Ans.(a)
Sol. Kotak Mahindra Bank is an Indian private sector banking headquartered in Mumbai, Maharashtra.

Q13. Minimum amount that can be invested in Kisan Vikas Patra(KVP) Certificate is _________
(a) Rs.100
(b) Rs.200
(c) Rs.500
(d) Rs.1000
(e) Rs.1500

S13. Ans.(d)
Sol. KVP certificates are available in the denominations of Rs 1000, Rs 5000, Rs 10000 and Rs 50000. The minimum amount that can be invested is Rs 1000. However, there is no upper limit on the purchase of KVPs.

Q14. National Housing Bank (NHB), a wholly owned subsidiary of_________
(a) RBI
(b) Government of India
(c) IRDAI
(d) State Government
(e) NABARD

S14. Ans.(a)
Sol. National Housing Bank (NHB) is an apex level institution for housing. NHB was set up on July 9, 1988, under the National Housing Bank Act, 1987. NHB is wholly owned by Reserve Bank of India, which contributed the entire paid-up capital.

Q15. Where is the corporate office of Micro Units Development and Refinance Agency (MUDRA) Bank?
(a) Kolkata
(b) Bengaluru
(c) Mumbai
(d) New Delhi
(e) Chennai

S15. Ans.(c)
Sol. Micro Units Development and Refinance Agency Bank (or MUDRA Bank) is a public sector financial institution has been the corporate office in Mumbai.


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