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. ___________ is an electronic fund transfer system that operates on a Deferred Net Settlement (DNS) basis which settles transactions in batches.

(a) NEFT

(b) RTGS

(c) NPCI

(d) BBPS

(e) IMPS

Q2. The Central Office of the Reserve Bank was initially established in Calcutta (now Kolkata) but was permanently moved to Mumbai in-

(a) 1949

(b) 1937

(c) 1943

(d) 1945

(e) 1934

Q3. The Reserve Bank of India (RBI) is vested with the responsibility of conducting monetary policy. This responsibility is explicitly mandated under which act?

(a) Companies Act, 1956

(b) Negotiable Instruments Act, 1881

(c) Reserve Bank of India Act, 1934

(d) Banking Regulation Act, 1949

(e) None of the given options is true 

Q4. A facility under which scheduled commercial banks can borrow the additional amount of overnight money from the Reserve Bank by dipping into their Statutory Liquidity Ratio (SLR). It is called? 

(a) Repo Rate

(b) Reverse Repo Rate

(c) Bank Rate 

(d) Marginal Standing Facility (MSF)

(e) Liquidity Adjustment Facility (LAF)

Q5. National Housing Bank (NHB) was set up on ______________ under the National Housing Bank Act, 1987.

(a) 01st July 1956

(b) 02nd October, 1976

(c) 01st January 1934

(d) 21st May 1956

(e) 09th July 1988

Q6. At present many public sector banks and one private sector bank are authorised to handle the Senior Citizens Savings Scheme (SCSS), 2004. Name the private sector bank, which is authorised to handle the Senior Citizens Savings Scheme (SCSS), 2004?

(a) ICICI Bank 

(b) HDFC Bank

(c) Axis Bank

(d) Yes Bank

(e) Kotak Mahindra Bank

Q7. The Government of India has enacted the Micro, Small and Medium Enterprises Development (MSMED) Act, 2006 in terms of which the definition of micro, small and medium enterprises. As under a micro enterprise is an enterprise where investment in plant and machinery does not exceed…………..?

(a) Rs. 100 lakh

(b) Rs. 15 lakh

(c) Rs. 25 lakh

(d) Rs. 50 lakh

(e) None of the given options is true

Q8. Commercial Paper (CP) is an unsecured money market instrument issued in the form of a promissory note. In which year Commercial Paper was introduced in India?

(a) 1975

(b) 1990

(c) 1985

(d) 1955

(e) 1980

Q9. Which Bank of India maintains the Principal Accounts of Central as well as State Governments at its Central Accounts Section? 

(a) IDBI

(b) SBI

(c) SIDBI

(d) NABARD 

(e) RBI

Q10. Who are eligible to issue Commercial Paper (CP)?

(a) Corporates

(b) Primary dealers (PDs)

(c) All-India Financial Institutions (FIs)

(d) All of the above

(e) None of the given options is true

Q11. Which committee has recommended the setting up of Special Tribunals to reduce the time required for settling cases and accepting the recommendations, DRTs were established?

(a) Kelkar committee

(b) Justice Reddy committee 

(c) Rangarajan Committee

(d) Sivaraman Committee

(e) Narasimham Committee

Q12. DRT has been constituted under Section 3 of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993. DRT stands for-

(a) Debt Recovery Tribunals

(b) Demand Recovery Tribunals

(c) Deposit Recovery Tribunals

(d) Debt Refinance Tribunals

(e) Debt Recovery Treaty

Q13. What is the financial limit Under MUDRA’s Tarun scheme?

(a) Rs. 40 lakh to Rs. 50 lakh 

(b) Rs. 30 lakh to Rs. 40 lakh 

(c) Rs. 20 lakh to Rs. 30 lakh 

(d) Rs. 10 lakh to Rs. 20 lakh 

(e) Rs. 5 lakh to Rs. 10 lakh

Q14. Who can set up an SEZ? 

(a) Private sector 

(b) Public sector

(c) State government

(d) All of the above

(e) Only (a) and (b)

Q15. Securitisation act 2002 enables the banks to issue notices to defaulters who have to pay the debts within __________ days.

(a) 90 days

(b) 60 days

(c) 30 days

(d) 120 days

(e) None of the given options is true

Banking Awareness Questions for IBPS RRBs Exam 2017 (Solutions)