Banking Awareness Questions For NICL AO Mains Exam 2017 |

Dear Readers,

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

Q1. _______ is a deposit account provided by a bank or other financial institutions for individuals to save money and earn the modest interest for that money held in the account.
(a) Fixed Deposit Account
(b) Savings Bank Account
(c) Recurring Account
(d) Current Account
(e) None of the given options is true

Q2. Which among the following bank is the first bank to launch the Mudra Card based on the RuPay platform?
(a) SBI
(b) Corporation Bank
(c) Vijaya Bank
(d) PNB
(e) HDFC Bank

Q3. ______________ in partnership with Visa launched India’s first co-branded e-commerce credit card
(a) Flipkart and ICICI Bank
(b) Snapdeal and ICICI Bank
(c) Flipkart and HDFC Bank
(d) Snapdeal and HDFC Bank
(e) Flipkart and Axis Bank

Q4. ____________ is a product to provide a person with an opportunity to build up saving through regular monthly deposits of fixed sum over a period of time.
(a) Fixed Deposit Account
(b) Savings Bank Account
(c) Recurring Deposit Account
(d) Current Account
(e) None of the given options is true

Q5. World’s first Bank Agnostic Instant Funds Transfer Platform using Facebook launched by-
(a) ICICI Bank
(b) Kotak Mahindra Bank
(c) Indusind Bank
(d) Central Bank
(e) HDFC Bank

Q6. With effect from March 31, 2005, an asset would be classified as _____________ if it has remained in the substandard category for a period of 12 months.
(a) Substandard Assets
(b) Profit Assets
(c) Doubtful Assets
(d) Loss Assets
(e) None of the above

Q7. What is the financial limit Under MUDRA’s Shishu scheme?
(a) Rs. 5,00,000
(b) Rs. 50,000
(c) Rs. 1,00,000
(d) Rs. 10,000
(e) Rs. 1,50,000

Q8. What is the financial limit Under MUDRA’s Kishor scheme?
(a) Rs. 50,000 to Rs. 10 lakh
(b) Rs. 50,000 to Rs. 3 lakh
(c) Rs. 50,000 to Rs. 1 lakh
(d) Rs. 50,000 to Rs. 2 lakh
(e) Rs. 50,000 to Rs. 5 lakh

Q9. Which among the following Incentives and facilities offered to the SEZs is not correct-
(a) Duty free import/domestic procurement of goods for development, operation and maintenance of SEZ units.
(b) Exemption from State sales tax and other levies as extended by the respective State Governments.
(c) Exemption from minimum alternate tax under section 115JB of the Income Tax Act.
(d) 100% Income Tax exemption on export income for SEZ units under Section 10AA of the Income Tax Act for 10 years, 50% for next 5 years thereafter and 50% of the ploughed back export profit for next 5 years.
(e) Exemption from Central Sales Tax.

Q10. ___________ is a specifically delineated duty-free enclave and shall be deemed to be foreign territory for the purposes of trade operations and duties and tariffs.
(a) SEZs
(b) FDI
(c) FIPB
(d) CDR
(e) CSR

Q11. IBA was set up in ________ with 22 members to discuss issues of common interests.
(a) 1946
(b) 1955
(c) 1934
(d) 1921
(e) 1961

Q12. What is the effort of IBA?
(a) Assist and provide common services to members.
(b) Promote sound and progressive banking principles and practices.
(c) Co-ordinate and co-operate on procedural, legal, technical, administration, professional matters.
(d) Build Image of banking industry through publicity and public relations.
(e) All of the above

Q13. Central Government has notified in the Official Gazette ___________ CPI inflation as the target for the period from August 5, 2016 to March 31, 2021 with the upper tolerance limit of 6 per cent and the lower tolerance limit of 2 per cent.
(a) 4 percent
(b) 3 percent
(c) 5 percent
(d) 2 percent
(e) None of the above

Q14. What is the full form of CPI?
(a) Customer Price Index
(b) Consumer Price Index
(c) Consumer Product Index
(d) Consumer Price Indian
(e) Custom Price Index

Q15. What is the focus & Priorities of IBA?
(a) The Government of India on policy related issues
(b) Industry unions on wage negotiations and improving industrial relations
(c) Foreign counterparts to widen the horizon and perspectives
(d) Members to encourage inter-bank co-operation and co-ordination
(e) All of the above

Banking Awareness Questions For NICL AO Mains Exam 2017 (Solutions)