Banking Quiz for IBPS Clerk Mains and IPPB Officers Exam 2017

Dear Aspirants,

Banking Quiz for IBPS Clerk Mains and IPPB Officers Exam 2017


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

Q1. The Department of Posts, trading as India Post, is a government-operated postal system in India. The Department of Posts comes under- 
(a) Ministry of Commerce and Industry
(b) Ministry of Finance Department of Revenue
(c) Ministry of Finance & the Public Service
(d) Ministry of Communications and Information Technology
(e) Ministry of Home Affairs

S1. Ans.(d)
Sol. The Department of Posts comes under the Ministry of Communications and Information Technology. The Postal Service Board, the apex management body of the Department, comprises the Chairman and six Members. The six members of the Board hold portfolios of Personnel, Operations, Technology, Postal Life Insurance, Human Resources Development, Planning respectively.

Q2. The Postal Service Board is ________ of the Department of Posts.
(a) apex management body
(b) regulatory management body 
(c) financial management body  
(d) statutory authority
(e) None of the given options is true

S2. Ans.(a)
Sol. The Postal Service Board, the apex management body of the Department of Posts, comprises the Chairman and six Members.

Q3. How many members are comprising in the Postal Service Board? 
(a) four
(b) three
(c) five 
(d) two
(e) six

S3. Ans.(e)
Sol. The Postal Service Board, the apex management body of the Department, comprises the Chairman and six Members. The six members of the Board hold portfolios of Personnel, Operations, Technology, Postal Life Insurance, Human Resources Development, Planning respectively.

Q4. For providing postal services, the whole country has been divided into _______ postal circles.
(a) 21
(b) 25
(c) 23
(d) 27
(e) 29

S4. Ans.(c)
Sol. For providing postal services, the whole country has been divided into 23 postal circles. Each Circle is co-terminus with a State except for Gujarat Circle (which also administers the Union Territories of Daman & Diu and Dadra & Nagar Haveli), Kerala Circle (which includes the Union Territory of Lakshadweep)?, Maharashtra Circle (which has within its jurisdiction the State of Goa), North East Circle (which comprises six North Eastern States - Arunachal Pradesh, Manipur, Meghalaya, Mizoram, Nagaland & Tripura), Punjab Circle (which has within its administrative jurisdiction, the Union Territory of Chandigarh), and Tamil Nadu Circle (which also administers the Union Territory of Pondicherry). Each of these Circles is headed by a Pr. Chief Postmaster General or Chief Postmaster General. Each Circle is further divided into Regions comprising field units, called Divisions (Postal / RMS Divisions). Each Region is headed by a Postmaster General. In the Circles and Regions there are other functional units like Circle Stamp Depots, Postal Stores Depots and Mail Motor Service etc. Besides these 23 Circles, there is another Circle, called Base Circle, to cater to the postal communication needs of the Armed Forces. The Base Circle is headed by an Additional Director General, Army Postal Service in the rank of a Major General. The officer cadre of the Army Postal Service comprises officers on deputation from the Civil Posts. Seventy five percent of the other ranks of the Army Postal Service are also drawn from the Department of Posts and the remaining personnel are recruited by the Army.

Q5. Who is present Secretary, Department of Posts & Chairperson of Postal Services Board?
(a) Meera Handa 
(b) Ananta Narayan Nanda
(c) Usha Chandra Sekhar
(d) Achla Bhatnagar
(e) Udai Krishna

S5. Ans.(b)
Sol. Shri Ananta Narayan Nanda is present Secretary, Department of Posts & Chairperson of Postal Services Board and Director General Postal Services.

Q6. Name the person who is not a member of Department of Postal Services Board?
(a) Mr Ajay Tyagi
(b) Ms Meera Handa
(c) Shri Tilak De
(d) Shri Vasumitra
(e) Ms Achla Bhatnagar

S6. Ans.(a)
Sol. Shri Ananta Narayan Nanda Secretary, Department of Posts & Chairperson, Postal Services Board
Director General Postal Services
Ms. Usha Chandra Sekhar , Member (Operations)
Ms. Meera Handa , Member (Planning)
Ms. Achla Bhatnagar , Member (Personnel)?
Shri Udai Krishna? , Member (Banking)
Shri Tilak De , Member (Technology)
Shri Vasumitra , Member (PLI) & Chairman, PLI Investment Board?
Shri Ajay Tyagi is chairman of SEBI.

Q7. Name the scheme, which are designed to provide financial security to general people with guaranteed return on investment by department of posts.
(a) Government schemes
(b) Post office schemes
(c) Revenue saving scheme
(d) Financial security scheme
(e) Poor Financial Help scheme

S7. Ans.(b)
Sol. Post office schemes are designed to provide financial security to general people with guaranteed return on investment. Government of India provides tax benefit to many postal saving schemes like senior citizen savings scheme, national savings scheme, Sukanya Samriddhi Account etc.

Q8. If the claim is exceeding ___________ claims can be settled by legal evidence that is by probate of will or succession certificate in Post Office Saving Schemes?
(a) three lakh
(b) four lakh
(c) one lakh
(d) six lakh
(e) nine lakh

S8. Ans.(c)
Sol. If the claim is exceeding one lakh claims can be settled by legal evidence that is by probate of will or succession certificate in Post Office Saving Schemes.

Q9. When there is no transaction in an Saving Bank (SB) account continuously for __________ financial years, the account will be treated as silent account in Post Office Saving Schemes.
(a) 2 financial years
(b) 5 financial years
(c) 4 financial years
(d) 3 financial years
(e) 1 financial years

S9. Ans.(d)
Sol. When there is no transaction in an SB account continuously for 3 financial years, the account will be treated as silent account.

Q10. A ___________ is an order issued by the Post Office for the payment of a sum of money to the person whose name the money order is sent through the agency of the Post Office.
(a) coin order
(b) saving order
(c) cheque order
(d) cash order
(e) money order

S10. Ans.(e)
Sol. A money order is an order issued by the Post Office for the payment of a sum of money to the person whose name the money order is sent through the agency of the Post Office.

Q11. Most of working population of India is engaged in:
(a) Public sector
(b) Primary sector
(c) Secondary sector
(d) Tertiary sector
(e) None of the given options is true

S11. Ans.(b)
Sol. The primary sector of the economy extracts or harvests products from the earth. The primary sector includes the production of raw material and basic foods. Activities associated with the primary sector include agriculture (both subsistence and commercial), mining, forestry, farming, grazing, hunting and gathering, fishing, and quarrying. The packaging and processing of the raw material associated with this sector is also considered to be part of this sector. So, Most of working population of India is engaged in primary sector.

Q12. Corporate tax is imposed by-
(a) State government
(b) Central government
(c) Both
(d) Local government
(e) RBI

S12. Ans.(b)
Sol. Corporation/Corporate tax is a tax imposed on the net income of the company and it is imposed by Central Government.

Q13. ‘Shishu’, ‘Kishore’ and ‘Tarun’ are associated with-
(a) SBI
(b) RESERVE BANK
(c) IDBI
(d) MUDRA BANK
(e) NABARD

S13. Ans.(d)
Sol. The initial products and schemes (MUDRA) under this umbrella have already been created and the interventions have been named ‘Shishu’, ‘Kishor’ and ‘Tarun’ to signify the stage of growth/development and funding needs of the beneficiary micro unit / entrepreneur as also provide a reference point for the next phase of graduation / growth for the entrepreneur to aspire for:
Shishu: covering loans upto Rs. 50,000/-
Kishor: covering loans above Rs. 50,000/- and upto Rs. 5 lakh
Tarun: covering loans above Rs. 5 lakh and upto Rs. 10 lakh

Q14. Mastricht treaty is related to
(a) Environment protection
(b) European unification
(c) WTO 
(d) Atomic power limitation
(e) None of the given options is true

S14. Ans.(b)
Sol. The Maastricht Treaty undertaken to integrate Europe was signed on 07th of February 1992 by the members of the European Community in Maastricht, Netherlands.

Q15. National Income Estimate is prepared by-
(a) Department of Economics and affairs
(b) CSO (Central Statistical Organization)
(c) RBI
(d) Finance ministry
(e) SEBI

S15. Ans.(b)
Sol. The Government of India appointed National Income Committee in 1949. The committee was chaired by Prof. P.C. Mahalanobis and had Prof D.R. Gadgil and Dr. V.K.R.V. Rao as members . The first report of the committee was presented in 1951. According to the first report, the National Income of India for 1948-49 was Rs. 8,710 crore and the per capita income was Rs. 225. Since 1955 the national income estimates are being prepared by Central Statistical Organisation.