Banking Awareness Questions for IBPS PO and Clerk

Dear Aspirants,

Banking Quiz for IBPS 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. SDDS is an International Monetary Fund standard to guide member countries in the dissemination of national statistics to the public. SDDS stands for-

Special Data Dissemination Service

Special Data Dissemination Standard

Special Data Dissemination System

Special Durable Dissemination Standard

Simple Data Dissemination Standard

Solution:

Special Data Dissemination Standard (SDDS) is an International Monetary Fund standard to guide member countries in the dissemination of national statistics to the public.

Q2. ______________ is responsible for discharging certain core traditional central banking functions, viz., acting as bankers to the Government and banks and managing public debt of both, central and state governments.

CDBS

FISIM

DEIO

ECGC

DGBA

Solution:

The Department of Government and Bank Accounts (DGBA) is responsible for discharging certain core traditional central banking functions, viz., acting as bankers to the Government and banks and managing public debt of both, central and state governments. It is also responsible for maintenance of the Reserve Bank's internal accounts and compilation of its weekly and annual accounts.

Q3. The ______________________ exercises regulatory powers in respect of commercial banks, Local Area Banks (LABs) and Regional Rural Banks (RRBs) as per the provisions contained in the Banking Regulation Act, 1949, the Reserve Bank of India Act, 1934, the Regional Rural Banks Act, 1975 and other related statutes.

Department of Communication

Department of Co-operative Bank Supervision

Department of Government and Bank Accounts

Department of Banking Regulation

Department of Economic and Policy Research

Solution:

The Department of Banking Regulation exercises regulatory powers in respect of commercial banks, Local Area Banks (LABs) and Regional Rural Banks (RRBs) as per the provisions contained in the Banking Regulation Act, 1949, the Reserve Bank of India Act, 1934, the Regional Rural Banks Act, 1975 and other related statutes.

Q4. IFCI is an Indian government owned development bank to cater to the long-term finance needs the industrial sector. IFCI stands for-

Industrial Finance Company of India

Industrial Finance Corporation of Investment

Industrial Finance Corporation of India

International Finance Corporation of India

Industrial Fund Corporation of India

Solution:

The Government of India established The Industrial Finance Corporation of India (IFCI) on July 1, 1948 by way of an IFC Act 1948.

Q5. HUDCO was incorporated in which year?

1962

1970

1956

1948

1980

Solution:

HUDCO was incorporated on 25th April 1970.

Q6. DCB Bank Limited is a private sector scheduled commercial bank in India. Where is the head office of DCB Bank Limited?

Bengaluru

Pune

New Delhi

Chennai

Mumbai

Solution:

DCB Bank Ltd. is a private sector scheduled commercial bank in India. The headoffice of DCB Bank Limited is in Mumbai.

Q7. The Federal Bank is a major Indian commercial bank headquartered in-

Thiruvananthapuram

Thrissur

Kozhikode

Kochi

Kannur

Solution:

The Federal Bank is a major Indian commercial bank headquartered in Aluva, Kochi, Kerala.

Q8. HDFC Bank Limited is an Indian banking and financial services company headquartered in-

Bengaluru

Pune

Mumbai

Chennai

New Delhi

Solution:

HDFC Bank Limited is an Indian banking and financial services company headquartered in Mumbai, Maharashtra.

Q9. RBL/Ratnakar Bank Limited is a scheduled commercial bank. Where is the Registered Office of RBL Bank Limited?

Nagpur

Kolhapur

Nashik

Pune

Mumbai

Solution:

Ratnakar Bank Limited is a scheduled commercial bank. Kolhapur, Maharashtra is the Registered Office of RBL Bank Limited.

Q10. Tamilnad Mercantile Bank Limited is a bank headquartered in-

Thoothukudi

Madurai

Salem

Tiruchirappalli

Vellore

Solution:

Tamilnad Mercantile Bank Limited is a bank headquartered at Thoothukudi, Tamil Nadu.

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 electrification 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.