Banking Awareness Questions for IBPS RRBs PO and Clerk Exam 2017

Banking Quiz 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. NPCI is an umbrella organization for all retail payments system in India. It was set up with the guidance and support of the Reserve Bank of India (RBI) and Indian Banks’ Association (IBA). What does NPCI stands for-

(a) National Payments Corporation of Industry

(b) National Payments Council of India

(c) Nominal Payments Corporation of India

(d) National Payments Corporation of India

(e) National Product Corporation of India 

Q2. In which among the following years NPCI was incorporated-

(a) December 2008

(b) January 2006

(c) April 2010

(d) July 2012

(e) None of the given options is true

Q3. The Bank for International Settlements (BIS) is the world’s oldest international financial organisation. BIS was established on-

(a) 26th May 1961

(b) 01st October 1949

(c) 14th February 1914

(d) 21st August 1945

(e) 17th May 1930

Q4. Where is the head office of Bank for International Settlements (BIS)?

(a) Zurich, Switzerland

(b) New York, USA

(c) Basel, Switzerland

(d) Berlin, Germany

(e) Geneva, Switzerland

Q5. Under which act NPCI was incorporated as a Section 8?

(a) Banking Regulation Act, 1949

(b) Companies Act 2013

(c) Reserve Bank of India Act, 1934

(d) Societies Registration Act, 1860 

(e) None of the given options is true

Q6. PSLCs are tradable certificates issued against priority sector loans of banks. What does meaning of “Cs” in PSLCs?

(a) Cess

(b) Cities

(c) Census

(d) Certificates

(e) ) None of the given options is true

Q7. The Banking Ombudsman Scheme is introduced under Section 35 A of the Banking Regulation Act, 1949 by RBI with effect from –

(a) 1995

(b) 1999

(c) 1990

(d) 1982

(e) 1988

Q8. MTSS is a way of transferring personal remittances from abroad to beneficiaries in India. What does MTSS stand for-?

(a) Mobile Transfer Service Scheme 

(b) Money Transfer System Scheme 

(c) Money Timing Service Scheme 

(d) Market Transfer Service Scheme 

(e) Money Transfer Service Scheme

Q9. How much cash can payment be made to the beneficiary in India under MTSS? 

(a) Rs 2,00,000

(b) Rs 50,000

(c) Rs 1,00,000

(d) Rs 10,000

(e) ) None of the given options is true

Q10. RDA is a channel to receive cross-border remittances from overseas jurisdictions. What does meaning of “A” in RDA?

(a) Account

(b) Assembly

(c) Arrangement

(d) Association

(e) Amount

Q11. Under OLTAS, only a Single Copy Challan is used with a tear off the portion for the Tax Payer. What does OLTAS stand for-

(a) On-line Tax Accounting Service

(b) On-line Tax Amounting System

(c) On-line Timing Accounting System

(d) On-line Tax Association Service

(e) On-line Tax Accounting System

Q12. What is the minimum period of maturity prescribed for Commercial Paper (CP)?

(a) 17 Months

(b) 14 Days

(c) 01 Year

(d) 07 days

(e) 05 years

Q13. Which banks are insured by the Deposit Insurance and Credit Guarantee Corporation (DICGC)?

(a) Foreign Banks functioning in India

(b) Local Area Banks

(c) Regional Rural Banks

(d) All of the above

(e) ) None of the given options is true

Q14. What is the maximum period of maturity prescribed for Commercial Paper (CP)?

(a) 10 years

(b) 06 years

(c) 01 Year

(d) 02 years

(e) 05 years

Q15. Each depositor in a bank is insured by DICGC up to a maximum of _____________________ for both principal and interest amount held by him in the same capacity and same right as on the date of liquidation/cancellation of bank’s licence or the date on which the scheme of amalgamation/merger/reconstruction comes into force.

(a) Rs.1,00,000 

(b) Rs.2,00,000 

(c) Rs.3,00,000 

(d) Rs.4,00,000 

(e) Rs.5,00,000

Banking Awareness Questions for IBPS RRBs PO and Clerk Exam 2017 (Solutions)