Banking Awareness Questions for IBPS RRB PO and Clerk

Dear Aspirants,

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. Name the scheme which was announced in August 2014 to ensure comprehensive financial inclusion of all the households in the country by providing universal access to banking facilities with at least one basic bank account to every household, financial literacy, access to credit, insurance and pension facility?

Pradhan Mantri Vaya Vandana Yojana

Pradhan Mantri Mudra Yojana

Pradhan Mantri Jan Dhan Yojana

Pradhan Mantri Suraksha Bima Yojana

Pradhan Mantri Jeevan Jyoti Bima Yojana

Solution:

Hon’ble Prime Minister announced Pradhan Mantri Jan Dhan Yojana as the National Mission on Financial Inclusion in his Independence Day address on 15th August 2014, to ensure comprehensive financial inclusion of all the households in the country by providing universal access to banking facilities with at least one basic bank account to every household, financial literacy, access to credit, insurance and pension facility

Q2. PMJDY offers unbanked persons easy access to banking services and awareness about financial products through financial literacy programmes. In addition, they receive a RuPay debit card, with inbuilt accident insurance cover of _____________, and access to overdraft facility upon satisfactory operation of account or credit history of ______________ months.

1 lakh, 6 months

7 lakh, 3 months

5 lakh, 4 months

3 lakh, 10 months

2 lakh, 5 months

Solution:

PMJDY offers unbanked persons easy access to banking services and awareness about financial products through financial literacy programmes. In addition, they receive a RuPay debit card, with inbuilt accident insurance cover of Rs. 1 lakh, and access to overdraft facility upon satisfactory operation of account or credit history of six months.

Q3. In which year, all eligible account holders can access their bank accounts personal accident insurance cover under PMSBY, life insurance cover under PMJJBY, and guaranteed minimum pension to subscribers under APY.

9th May 2016

9th May 2014

9th May 2017

9th May 2015

9th May 2013

Solution:

Prime Minister’s Social Security Schemes, launched by the Hon’ble Prime Minister Narendra Modi on 9th May 2015, all eligible account holders can access through their bank accounts personal accident insurance cover under Pradhan Mantri Suraksha Bima Yojana, life insurance cover under Pradhan Mantri Jeevan Jyoti Bima Yojana, and guaranteed minimum pension to subscribers under Atal Pension Yojana.

Q4. Which scheme is available to people in the age group of 18 to 50 years having a bank account who give their consent to join/enable auto-debit?

PMVVY

PMJJBY

PMSBY

APY

PMMY

Solution:

The PMJJBY is available to people in the age group of 18 to 50 years having a bank account who give their consent to join /enable auto-debit. Aadhar is the primary KYC for the bank account.

Q5. The risk coverage under the PMSBY scheme is __________ lakh for accidental death and full disability and Rs. 1 lakh for partial disability.

Rs. 3 lakh

Rs. 5 lakh

Rs. 4 lakh

Rs. 1 lakh

Rs. 2 lakh

Solution:

Pradhan Mantri Suraksha Bima Yojana (PMSBY) is available to people in the age group 18 to 70 years with a bank account who give their consent to join/ enable auto-debit on or before 31st May for the coverage period 1st June to 31st May on an annual renewal basis. Aadhar would be the primary KYC for the bank account. The risk coverage under the scheme is Rs. 2 lakh for accidental death and full disability and Rs. 1 lakh for partial disability.

Q6. National Institute of Bank Management (NIBM) was established in _________________ by the Reserve Bank of India, in consultation with the Government of India, as an autonomous apex institution for research, training, education and consultancy in bank management.

1979

1949

1969

1959

1989

Solution:

National Institute of Bank Management (NIBM) was established in 1969 by the Reserve Bank of India, in consultation with the Government of India, as an autonomous apex institution for research, training, education and consultancy in bank management. Its mandate is to play a proactive role of “think-tank” of the banking system.

Q7. The Securities and Exchange Board of India (SEBI) is the regulator for the securities market in India. It was established on-

12th April 1992

12th April 1988

12th April 1990

12th April 1982

12th April 1999

Solution:

SEBI was established on 12th April 1992.

Q8. Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL) was established by Reserve Bank of India (RBI) as its wholly owned subsidiary on-

03rd February 1991

03rd February 1992

03rd February 1997

03rd February 1999

03rd February 1995

Solution:

Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL) was established by Reserve Bank of India (RBI) as its wholly owned subsidiary on 3rd February 1995 with a view to augmenting the production of bank notes in India to enable the RBI to bridge the gap between the supply and demand for bank notes in the country.

Q9. In which year, CIBIL Limited (formerly Credit Information Bureau (India) Limited) was incorporated based on recommendations made by the RBI Siddiqui Committee?

2002

2000

2001

2004

2003

Solution:

TransUnion CIBIL Limited (formerly Credit Information Bureau (India) Limited) was incorporated based on recommendations made by the RBI Siddiqui Committee.

Q10. The Institute for Development & Research in Banking Technology (IBDRT) is a unique institution exclusively focused on Banking Technology. Established by the Reserve Bank of India in-

2001

1999

1992

1996

1989

Solution:

The Institute for Development & Research in Banking Technology is a unique institution exclusively focused on Banking Technology. Established by the Reserve Bank of India in 1996, the Institution works at the intersection of Banking and Technology.

Q11. The premium is ______________ per annum which is to be auto-debited in one installment from the subscriber’s bank account as per the option given by him on or before 31st May of each annual coverage period under the PMJJBY scheme.

Rs. 365 per annum

Rs. 110 per annum

Rs. 12 per annum

Rs. 330 per annum

Rs. 205 per annum

Solution:

The PMJJBY is available to people in the age group of 18 to 50 years having a bank account who give their consent to join /enable auto-debit. Aadhar is the primary KYC for the bank account. The life cover of Rs. 2 lakh is for the one year period stretching from 1st June to 31st May and is renewable. Risk coverage under this scheme is for Rs. 2 lakh in case of death of the insured, due to any reason. The premium is Rs. 330 per annum which is to be auto-debited in one installment from the subscriber’s bank account as per the option given by him on or before 31st May of each annual coverage period under the scheme.

Q12. The Pradhan Mantri Suraksha Bima Yojana or PMSBY is available to people in the age group ____________ years with a bank account who give their consent to join/ enable auto-debit on or before 31st May for the coverage period 1st June to 31st May on an annual renewal basis.

18 to 70 years

18 to 50 years

18 to 40 years

18 to 60 years

18 to 80 years

Solution:

The Pradhan Mantri Suraksha Bima Yojana or PMSBY is available to people in the age group 18 to 70 years with a bank account who give their consent to join/ enable auto-debit on or before 31st May for the coverage period 1st June to 31st May on an annual renewal basis. Aadhar would be the primary KYC for the bank account.

Q13. The premium of how much amount per annum is to be deducted from the account holder’s bank account through ‘auto-debit’ facility in one installment under Pradhan Mantri Suraksha Bima Yojana?

Rs. 365 per annum

Rs. 110 per annum

Rs. 12 per annum

Rs. 330 per annum

Rs. 205 per annum

Solution:

The premium of Rs.12 per annum is to be deducted from the account holder’s bank account through ‘auto-debit’ facility in one installment under Pradhan Mantri Suraksha Bima Yojana.

Q14. _____________ is a pension scheme for citizens of India focussed on the unorganised sector workers.

PMVVY

PMJJBY

PMSBY

PMMY

APY

Solution:

Atal Pension Yojana (APY) is a pension scheme for citizens of India focussed on the unorganised sector workers. Under the APY, guaranteed minimum pension of Rs. 1,000/-, 2,000/-, 3,000/-, 4,000 and 5,000/- per month will be given at the age of 60 years depending on the contributions by the subscribers.

Q15. Name the scheme, Under a loan of upto Rs. 50,000 is given under sub-scheme ‘Shishu’; between Rs. 50,000 to 5.0 Lakhs under sub-scheme ‘Kishore’; and between 5.0 Lakhs to 10.0 Lakhs under sub-scheme ‘Tarun’.

Pradhan Mantri Vaya Vandana Yojana

Pradhan Mantri Mudra Yojana

Pradhan Mantri Jan Dhan Yojana

Pradhan Mantri Suraksha Bima Yojana

Pradhan Mantri Jeevan Jyoti Bima Yojana

Solution:

The scheme was launched on 8th April 2015. Under the scheme a loan of upto Rs. 50,000 is given under sub-scheme ‘Shishu’; between Rs. 50,000 to 5.0 Lakhs under sub-scheme ‘Kishore’; and between 5.0 Lakhs to 10.0 Lakhs under sub-scheme ‘Tarun’. Loans taken do not require collaterals.

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