Banking Awareness Questions for IBPS RRBs 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 RRBs PO and Clerk Mains. These Banking questions will also help you in preparing for other upcoming banking recruitment examination.

Q1. What is the maturity period for senior citizen savings scheme?

(a) 3 years

(b) 1 years

(c) 2 years

(d) 5 years

(e) 4 years

Q2. The Overseas Principal should obtain necessary authorisation from the Reserve Bank of India under the provisions of which Act to commence/ operate a payment system?

(a) Reserve Bank of India Act–1934

(b) Banking Companies (Acquisition and Transfer of Undertakings) Act– 1970

(c) Banking Regulation (Companies) Rules, 1949

(d) Payment and Settlement Systems Act (PSS Act), 2007

(e) None of the given options is true

Q3. ___________ is a quick and easy way of transferring personal remittances from abroad to beneficiaries in India.

(a) MTSS

(b) NEFT

(c) RTGS

(d) NPCI

(e) SWIFT

Q4. A cap of ____________ has been placed on individual remittances under the MTSS?

(a) USD 2,500

(b) USD 5,000

(c) USD 3,500

(d) USD 1,000

(e) USD 1,500

Q5. FATF stands for-

(a) Financial Action Trade Force

(b) Financial Asset Task Force

(c) Financial Asset Trade Force

(d) Financial Action Time Force

(e) Financial Action Task Force

Q6. How many remittances can be received by a single individual beneficiary under the scheme during a year?

(a) 40

(b) 45

(c) 55

(d) 35

(e) 30

Q7. ________ has come into being with a vision to make early home ownership a real possibility through the provision of Mortgage Guarantee.

(a) SIDBI

(b) ECGC

(c) IMGC

(d) NHB

(e) NABARD

Q8. The national agency mandated to control, analyse and disseminate Suspicious Transaction Reports(STR), Cash Transaction Reports and counterfeit currency reports to various investigative agencies of the country after receiving it from banks and other financial intermediaries is-?

(a) National Payments Corporation of India (NPCI)

(b) Central Bureau of Investigation (CBI)

(c) Financial Intelligence Unit (FIU)

(d) Intelligence Bureau (IB)

(e) Central Intelligence Unit (CIU)

Q9. Currency Swap is an instrument to manage _______

(a) currency risk

(b) cash flows in different currency

(c) currency and interest rate risk

(d) interest rate risk

(e) All of the above

Q10. Which of the following agencies in India is responsible for computation of national income?

(a) NCAER

(b) CSO

(c) NSS

(d) RBI

(e) None of the given options is true

Q11. SEPA Stands for-

(a) Scottish Environment Protection Agency

(b) Single Euro Payments Area

(c) Scottish Environment Protection Area

(d) Single Euro Payments Agency

(e) None of the given options is true

Q12. The Definition of ‘Banking’ is given in-

(a) Negotiable Instrument Act, 1881

(b) RBI Act, 1934

(c) The Banking Regulation Act, 1949

(d) Indian Contract Act, 1872

(e) None of the given options is true

Q13. Which of the following is governed by the provisions of Section 42 (1) of the Reserve Bank of India Act, 1934?

(a) Bank rate

(b) Reverse Repo Rate

(c) SLR

(d) CRR

(e) MSF

Q14. Spurious coins detected at the counter are sent to-

(a) RBI

(b) GOI

(c) IBRD

(d) Mint

(e) Finance Ministry

Q15. National Sample Survey Organisation (NSSO) is an organisation under the-

(a) Ministry of Finance

(b) Ministry of Rural Development

(c) Ministry of Commerce and Industry

(d) Ministry of Electronics and Information Technology

(e) Ministry of Statistics and Programme Implementation

Banking Awareness Questions for IBPS RRBs Exam 2017 (Solutions)