Banking Awareness for IBPS RRB PO and Clerk Exam 2018
With the increased competition in the field of banking examinations, it has now become very important to cover up all the sections efficiently. One subject that can help you bagging graceful marks in the minimum time in these examinations is Banking Awareness. Banking Awareness Quiz not only helps you deal with the General Awareness Section of Banking Exams but also, the Personal Interview round of Banking Recruitment.
Q1. SBI Act was passed in Parliament in-
1935
1949
1955
1969
1980
Solution:
SBI Act was passed in Parliament in 1955.
Q2. Generally, the minimum rate below which the banks do not lend is known as-?
floor rate
repo rate
highest rate
base rate
All of the above
Solution:
Base rate is the minimum rate set by the Reserve Bank of India below which banks are not allowed to lend to its customers.
Q3. Which of the following banks has acquired the ‘Centurion Bank of Punjab’?
ICICI Bank
IDBI Bank
HDFC Bank
AXIS Bank
SBI
Solution:
HDFC Bank has acquired the ‘Centurion Bank of Punjab’.
Q4. What was the deposits criteria of 14 banks nationalized on 19th July, 1969?
Over Rs. 1000 crore
Over Rs. 500 crore
Over Rs. 100 crore
Over Rs. 50 crore
Over Rs. 200 crore
Solution:
14 major Indian Scheduled Commercial Banks with deposits of over Rs 50 crores nationalised ' to serve better the needs of development of the economy in conformity with national policy objectives'.
Q5. Board for Financial Supervision (BFS) constituted in 1994 by RBI to undertake consolidated supervision of-
commercial banks
financial institutions
non-banking finance companies
All of the above
None of the given options is true
Solution:
The Reserve Bank of India performs this function under the guidance of the Board for Financial Supervision (BFS). The Board was constituted in November 1994 as a committee of the Central Board of Directors of the Reserve Bank of India. Primary objective of BFS is to undertake consolidated supervision of the financial sector comprising commercial banks, financial institutions and non-banking finance companies.
Q6. Real time gross settlement benefits-
the customers
the banks
Reserve Bank of India
Both (a) and (b)
None of the given options is true
Solution:
Real time gross settlement benefits to both Banks and customers.
Q7. Which of the following banks has opened the country’s first, ‘Cash Factory’ in Lucknow which has issued currency notes to all its branches and ATM in that area?
Bank of India
Bank of Baroda
State Bank of India
Union Bank of India
None of the given options is true
Solution:
To ensure better management of currency notes, the country’s first currency administrative branch of the State Bank of India has come up here in Lucknow. Called “Cash Factory”, it will house the currency chest of the Reserve Bank of India. The licence for the cash factory has been issued by the RBI.
Q8. As we all know, more and more countries/organisations are now going for non-cash transactions and accordingly banks have launched many new products in the market for the same. Which of the following products is a non-cash transaction product?
Only ATM Card
Only Credit Card
Only Smart Card
Only Debit Card
All are non-cash transaction products
Solution:
All are non-cash transaction products.
Q9. As we an have noticed, banks these days are giving more emphasis on ‘Branchless Banking’. What does this really mean?
I. Banks will not have many branches as used to be in the good old days. Instead, the number of branches will be restricted and will conduct only a specified” core business.
II. Banks will launch/operate many delivery channels like ATMs, Mobile Banking/Internet Banking etc, so that people are not required to visit a branch for their usual banking needs.
III. This means banks will issue only debit or credit cards for all types of day-to-day financial transactions. Cheques/cash payments will not be allowed.
Select the correct answer using the codes given below.
Only I
Only II
I and II
II and III
All of the above
Solution:
All of the above.
Q10. The financial assistance of loans of Rs. 10000 by a bank to very a small borrower will be called-?
Business finance
Government finance
Micro finance
Small finance
KYC finance
Solution:
The financial assistance of loans of Rs. 10000 by a bank to very a small borrower will be called Microfinance.
Q11. Bharat BillPay transaction can be initiated through multiple payment channels like-
Internet Banking
Mobile-Banking
Point of Sale terminal
Mobile Point of Sale terminal
All of the above
Solution:
Bharat BillPay transaction can be initiated through multiple payment channels like Internet, Internet Banking, Mobile, Mobile-Banking, POS (Point of Sale terminal), Mobile Wallets, MPOS (Mobile Point of Sale terminal), Kiosk, ATM, Bank Branch, Agents and Business Correspondents.
Q12. Which of the following is not an objective of IMPS?
To facilitate mobile payment systems already introduced in India with the Reserve Bank of India Mobile Payment Guidelines 2008 to be inter-operable across banks and mobile operators in a safe and secured manner
Making payment simpler just without the mobile number of the beneficiary
To enable bank customers to use mobile instruments as a channel for accessing their banks accounts and remit funds
To build the foundation for a full range of mobile based Banking services
To sub-serve the goal of Reserve Bank of India (RBI) in electronification of retail payments
Solution:
Objectives of IMPS is given below- 1. To enable bank customers to use mobile instruments as a channel for accessing their banks accounts and remit funds
Making payment simpler just with the mobile number of the beneficiary 2. To sub-serve the goal of Reserve Bank of India (RBI) in electronification of retail payments 3. To facilitate mobile payment systems already introduced in India with the Reserve Bank of India Mobile Payment 4. Guidelines 2008 to be inter-operable across banks and mobile operators in a safe and secured manner 5. To build the foundation for a full range of mobile based Banking services.
Q13. MMID is a ____________ digit unique number issued by the bank upon registration.
7 digits
8 digits
9 digits
6 digits
4 digits
Solution:
Mobile Money Identifier (MMID) is a seven digit unique number issued by the bank upon registration.
Q14. MMID stands for-
Mobile Money Interface
Mobile Management Identifier
Mobile Money Identifier
Mutual Money Identifier
Mobile Money International
Solution:
MMID stands for Mobile Money Identifier.
Q15. *99#, a USSD based mobile banking service of NPCI was initially launched in-
November 2010
November 2012
November 2011
November 2013
November 2015
Solution:
*99#, a USSD based mobile banking service of NPCI was initially launched in November 2012.
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