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. A worldwide financial messaging network which exchanges messages between banks and financial institutions is known as _________
(a) SWIFT
(b) Basel
(c) RTGS
(d) NEFT
(e) AIIB

Q2. Which of the following is not a ‘Money Market Instrument’?
(a) Treasury Bills
(b) Commercial Paper
(c) Certificate of Deposit
(d) Equity Shares
(e) None of the given options is true

Q3. When there is a difference between all receipts and expenditure of the Govt. of India, both capital and revenue it is called _______
(a) Income Deficit
(b) Fiscal Deficit
(c) Budgetary Deficit
(d) All of the Above
(e) None of the given options is true

Q4. With reference to a cheque which of the following is the ‘drawee bank’ ?
(a) The bank that collects the cheque
(b) The payee’s bank
(c) The endorser’s bank
(d) The bank upon which the cheque is drawn
(e) None of the given options is true

Q5. Banks issue a letter to beneficiary on behalf of its constituents like guarantee for making payment on their behalf on fulfilment of its terms and conditions. What is this arrangement known in banking context?
(a) Line of Credit
(b) Loan to Client
(c) Loan on Credit
(d) Letter of Credit
(e) None of the given options is true

Q6. ___________ is vested with the responsibility of conducting monetary policy. 
(a) RBI
(b) SBI
(c) NABARD
(d) SIDBI
(e) Finance Ministry

Q7. In which year the Reserve Bank of India (RBI) Act, 1934 was amended to provide a statutory basis for the implementation of the flexible inflation targeting framework?
(a) May 2013
(b) May 2014
(c) May 2015
(d) May 2016
(e) May 2012

Q8. Which scheme/act has enables an expeditious and inexpensive forum to bank customers for resolution of complaints relating to certain services rendered by banks?
(a) Reserve Bank of India Act, 1934
(b) Banking Regulation Act, 1949
(c) Securitization Act 2002
(d) FEMA
(e) Banking Ombudsman Scheme

Q9. The Banking Ombudsman Scheme is introduced by RBI with effect from- 
(a) 1991
(b) 1995
(c) 1990
(d) 2002
(e) 2006

Q10. IBA adopts a consultative approach to give its views on any issue pertaining to banking sector. What is the meaning of “I” in IBA?
(a) International
(b) Institute
(c) Investment
(d) Indian
(e) Increase

Q11. BCSBI was set up to ensure that the common person as a consumer of financial services from the banking Industry is in no way at a disadvantageous position and really gets what he/she has been promised. BCSBI stands for-?
(a) Branch Codes and Standards Board of India
(b) Banking Codes and Stability Board of India
(c) Banking Codes and Standards Bank of Industry
(d) Banking Codes and Society Board of Investment
(e) Banking Codes and Standards Board of India

Q12. When was the currency system in India converted into decimal system?
(a) April 01st 1959
(b) April 01st 1957
(c) April 01st 1955
(d) April 01st 1953
(e) April 01st 1951

Q13. Which of the following field Dalal Street in Mumbai is famous?
(a) NABARD
(b) Stock Exchange
(c) RBI
(d) SEBI
(e) Commerce and industry ministry

Q14. Deposits which can be withdrawn by a customer without notice is called?
(a) Time Deposits
(b) Demand Deposits
(c) Variable Deposits
(d) Low cost Deposits
(e) None of the given options is true

Q15. Which of the following is not e-banking software?
(a) ECS
(b) RTGS
(c) PIPS
(d) NEFT
(e) M-Banking

Banking Awareness Questions for IBPS RRBs Exam 2017 (Solutions)