Banking Awareness Questions for IBPS Clerk Mains 2017

Dear Readers,


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. India's largest digital bank _____________ is the only bank providing zero balance accounts and zero charges on digital transactions.
(a) India Post Payments Bank
(b) Paytm Payments Bank
(c) Airtel Payments Bank
(d) Fino Payments Bank 
(e) None of the given options is true

S1. Ans.(b)
Sol. India's largest digital bank Paytm Payments Bank is the only bank providing zero balance accounts and zero charges on digital transactions. The bank has unveiled 'Paytm Ka ATM' outlets that allows customers to open Saving Accounts and deposit/withdraw money from their bank accounts.

Q2. Name the company, which has become the first-ever broking arm of a bank to take membership of a commodity exchange by registering itself with NCDEX.
(a) South Securities
(b) Kotak Securities
(c) HDFC Securities
(d) ICICI Securities
(e) Axis Securities

S2. Ans.(e)
Sol. Axis Securities, a subsidiary of Axis Bank, has become the first-ever broking arm of a bank to take membership of a commodity exchange by registering itself with NCDEX.

Q3. BSE's India International Exchange (India INX) has received approval from the capital market regulator SEBI on the framework for the listing of debt securities. Who is the present Chairman of SEBI?
(a) Urjit Patel
(b) HK Bhanwala
(c) Ajay Tyagi
(d) UK Sinha
(e) Rajeev Mehrishi

S3. Ans.(c)
Sol. BSE's India International Exchange (India INX) has received approval from the capital market regulator SEBI on the framework for the listing of debt securities. Ajay Tyagi is the present Chairman of SEBI.

Q4. The RBI has triggered PCA against Corporation Bank in view of high non-performing loans and requirement to raise capital recently. PCA stands for-
(a) Prompt Corrective Area
(b) Prompt Corrective Action
(c) Prompt Concern Action
(d) Prompt Common Action
(e) Prime Corrective Action

S4. Ans.(b)
Sol. The Reserve Bank of India (RBI) has imposed certain restrictions on Corporation Bank on carrying out banking activities as its share of bad loans rose sharply. The RBI has triggered prompt corrective action (PCA) against it in view of high non-performing loans and requirement to raise capital.

Q5. The Reserve Bank of India (RBI) has imposed ____________ penalty on IndusInd Bank for breaching rules on income classification norms.
(a) Rs 15 crore
(b) Rs 7 crore
(c) Rs 10 crore
(d) Rs 3 crore
(e) Rs 20 crore

S5. Ans.(d)
Sol. The Reserve Bank of India (RBI) has imposed Rs 3 crore penalty on IndusInd Bank for breaching rules on income classification norms. As per the RBI Statement, the penalty was imposed after the regulator observed violation of various regulations issued by the RBI on non-performing loans and extension of non-fund based limits.

Q6. Which among the following Bank has introduced a loyalty program for its valued customers?
(a) Bank of Baroda
(b) HDFC Bank
(c) Indian Bank
(d) Punjab National Bank
(e) State Bank of India

S6. Ans.(e)
Sol. The State Bank of India has introduced a loyalty program for its valued customers. This program is called as State Bank Rewardz, the program gives the customers several opportunities to earn reward points and earn many times faster at Max Get More partner outlets.

Q7. Jammu and Kashmir Bank has launched a special financial scheme for journalists of the state, the scheme "J&K Bank Sahafat Finance Scheme" was launched by the bank's chairman and CEO. Who is the present chairman and CEO of Jammu and Kashmir Bank?
(a) Md Mustafa
(b) Parvez Ahmad
(c) Rizwaan Patel
(d) Akram Khan
(e) Suhail Kamaal

S7. Ans.(b)
Sol. Jammu and Kashmir Bank launched a special financial scheme for journalists of the state. The scheme "J&K Bank Sahafat Finance Scheme" was launched by the bank's chairman and CEO Parvez Ahmad.

Q8. Where is the headoffice of IndusInd Bank?
(a) Hyderabad
(b) Kolkata
(c) New Delhi
(d) Mumbai
(e) Chennai

S8. Ans.(d)
Sol. Head office of IndusInd Bank is in Mumbai.

Q9. The GST Council has decided to implement the e-way bill mechanism throughout the country by _____ after reviewing the readiness of the IT network.
(a) 01st June
(b) 01st September
(c) 01st May
(d) 01st February
(e) 01st January

S9. Ans.(a)
Sol. The GST Council has decided to implement the e-way bill mechanism throughout the country by June 1st after reviewing the readiness of the IT network. Under the Goods and Services Tax (GST) regime, the waybill is replaced by an e-way bill.

Q10. Inflation based on the WPI has accelerated to an eight-month high of 3.93% in November from 3.59% in October 2017. WPI stands for-
(a) Wholesale Product Index 
(b) Wholesale Price India
(c) Wholesale Price Index
(d) Wheat Price Index 
(e) Wholesale Payment Index

S10. Ans.(c)
Sol. Inflation based on the Wholesale Price Index (WPI) accelerated to an eight-month high of 3.93% in November, from 3.59% in October. Data released showed that retail inflation unexpectedly jumped to a 15-month high of 4.88% in November, and industrial production slowed to 2.2% in October.

Q11. The Asian Development Bank (ADB) has lowered India’s GDP forecast for the current fiscal by 0.3% to _______.
(a) 6.9%
(b) 6.1%
(c) 6.3%
(d) 6.7%
(e) 6.5%

S11. Ans.(d)
Sol. The Asian Development Bank (ADB) lowered India’s GDP forecast for the current fiscal by 0.3% to 6.7 %. It has also revised downward the gross domestic product (GDP) outlook for next fiscal beginning from March 2018 to 7.3% from 7.4% mainly due to rising global crude oil prices and soft growth in private sector investment.

Q12. The Reserve Bank of India increased the limits for investment by FPIs for the January-March 2018 quarter by Rs 6,400 crore in Central Government Securities (G-Secs) and Rs 5,800 crore in State development loans (SDLs). What is the meaning of "I" in FPI?
(a) Investors
(b) Insurance
(c) Installment
(d) Investment
(e) Index

S12. Ans.(a)
Sol. The Reserve Bank of India increased the limits for investment by Foreign Portfolio Investors (FPIs) for the January-March 2018 quarter by Rs 6,400 crore in Central Government Securities (G-Secs) and Rs 5,800 crore in State development loans (SDLs).

Q13. The AIIB has approved its first loan to ___________, its largest shareholder, to reduce its dependence on coal by over 600,000 tonnes annually by building a natural gas distribution network for villages.
(a) Singapore
(b) India
(c) China
(d) Japan
(e) France

S13. Ans.(c)
Sol. The Asian Infrastructure Investment Bank (AIIB) approved its first loan to China, its largest shareholder, to reduce its dependence on coal by over 600,000 tonnes annually by building a natural gas distribution network for villages.

Q14. Indian economy is likely to grow by _____ percent in 2018 and go up further to _________ percent in 2019 on the back of strong private consumption, public investment and the ongoing structural reforms, according to a UN report.
(a) 7.1% and 7.3%
(b) 7.2% and 7.4%
(c) 7.3% and 7.5%
(d) 7.6% and 7.8%
(e) 7.0% and 7.2%

S14. Ans.(b)
Sol. Indian economy is likely to grow by 7.2 percent in 2018 and go up further to 7.4 percent in 2019 on the back of strong private consumption, public investment and the ongoing structural reforms, according to a UN report.

Q15. The Reserve Bank of India (RBI) has imposed a penalty of ___________ on Syndicate Bank for non-compliance with its directions on "Cheque Purchase or Discounting, Bill Discounting, and Know Your Customer (KYC)" norms.
(a) Rs 50 crore
(b) Rs 7 crore
(c) Rs 10 crore
(d) Rs 30 crore
(e) Rs 5 crore

S15. Ans.(e)
Sol. The Reserve Bank of India (RBI) has imposed a penalty of Rs 5 crore on Syndicate Bank for non-compliance with its directions on "Cheque Purchase or Discounting, Bill Discounting, and Know Your Customer (KYC)" norms.


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