100 Most Important Banking Awareness PDF One Liner for IBPS RRB PO/Clerk Mains 2017 (Day-8):
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A2Z Banking Awareness Capsule especially for IBPS RRB/Clerk/PO 2017-18
TOP 2000 – Important Banking Awareness Questions eBook
Types of Banking
1). In India banks are classified into ————— different types. – 2
2). Scheduled banks are classified under —————— Act. – RBI Act 1934
3). The Scheduled banks must have paid up capital and reserves atleastRs. – 5 lakh
4). What is very restricted form of banking, where the institution is not allowed to take risks by giving fresh loans to business? – Narrow Banking
5). What is the provision of accessing the banking and related services online without actually going to the bank branch/office in person? – Virtual Banking
6). What the provision of services by a bank to individual consumers, rather than to companies, corporations or other banks? – Retail Banking
7). —————— type of banking that promote clean energy technologies. – Green Banking
8). What is a form of banking when a small group of individuals control three or more banks which are independently chartered? – Chain Banking
9). What refers to all the non-bank financial intermediaries that provide services similar to those of traditional commercial banks? – Shadow Banking
10). What is a banking system in which banks provide a wide variety of financial services, including commercial and investment services? – Universal banking
11). Which committee recommended the Universal Banking concept? – R.H Khan Committee
12). What is an approach where banks undertake both commercial and industrial banking? – Mixed Banking
13). What is a system of banking wherein a bank operates in a limited area, does not open any branches in other places and is more responsive to local needs? – Unit Banking
14). What is a profitable way of doing business by banks in foreign countries in which they don’t have physical presence or limited operational permissions? – Correspondent Banking
15). When a bank accepts currencies of countries abroad, such an activity is known as – Offshore Banking
Mixed Quiz:
16). Expand the term FRBM. – Fiscal Responsibility and Budget Management
17).Reverse Repo is a tool used by RBI to – Absorb liquidity
18).Many times we read a term CBS used in banking operations. What is the full form of the letter ‘C’ in the term ‘CBS’? – Core
19).The main function of the IMF is – to help solve balance-of-payments problems of member countries
20).Which of the following is the most active segment of the money market in India? – Call Money/Notice Money Market
21).Which of the following bodies promoted Securities Trading Corporation of India Limited (STCI) jointly with the Public Sector Banks?– Reserve Bank of India
22).The expansion for BIFR, in the context of the Indian industry, is– Bureau for Industrial and Financial Revolution
23).GNP stands for– Gross National Product
24).As per notification issued by RBI, circulation of which of the following coins shall be ceased which effective from 29th June, 2011?– 25 paise
25).Which of the following would result in a fall in asset prices?– Low liquidity in the economy
26).FIMMDA stands for? – Fixed Income Money Markets and Derivatives Association
27).What is Gross Domestic Product? – It is the market value of all final goods and services made within the borders of a country in a year.
28).What is ‘financial inclusion’?– Availability of cheap credits through appropriately designed loans for poor and low income households and small entrepreneur
29).Which of the following rates signals the RBI’s long-term outlook on interest rates? – Bank Rate
30).Expand the term SWIFT. – Society for Worldwide Interbank Financial Telecommunications.
31). Which of the following agencies in India is responsible for computation of national income? – CSO
32).Bancassurance is known as –The bank insurance model (BIM), also sometimes known as bancassurance or allfinanz, is the partnership or relationship between a bank and an insurance company, or a single integrated organisation, whereby the insurance company uses the bank sales channel in order to sell insurance products, an arrangement in which a bank and an insurance company form a partnership so that the insurance company can sell its products to the bank’s client base.
33).Which of the following Acts was framed specially to deal more effectively with the problem of Non-Performing Assets in banking system? – SARFAESI Act
34).Bridge loans refer to – Short term loan allowed by banks to their customers, pending disbursement of term loans by financial institutions
35).Structure of Basel II is based on how many pillars? – Three
36).Which of the following documents is/are considered as officially valid document to satisfy KYC norms for opening a Bank account?
- Passport
- PAN
- Aadhar number issued by Unique Identification Authority of India
37).Fiscal Policy is concerned with which of the following? – Revenue and Expenditure
38).Which of the following is the apex institution that handles refinance for agriculture and rural development in India? – NABARD
39).Foreign Exchange Reserves of India are kept in the custody of which of the following? – Reserve Bank of India
40).Banks borrow money from the RBI on which of the following rates? – Repo Rate
41).The Reverse Mortgage scheme is launched to give benefit to which of the following groups of the society? – Senior citizens
42).One of the major challenges banking industry is facing these days is deliberate efforts of some people to bring money earned through illegal activities in circulation. Which of the following acts has been passed to prevent this activity? – Prevention of Money Laundering Act
43).Which of the following organisations provides guarantee to the exporters? – Export Credit Guarantee Corporation
44).What is the full form of IRR as used in banking/financial sector? – Internal Rate of Return
45).Which of the following organisations provides credit history of the borrowers? – CIBIL
46).Which authority / organization is the major share holder in NABARD? –Government of India
47).Which international organization helps in prevention of money laundering? – FATF
48).SLR refers to – That portion of total deposit of a commercial bank which it has to keep with itself in the form of gold or securities
49).What is known as the Open Market Operations of RBI? – Trading in Securities
50).Basel committee on banking supervision is associated with which of the following? – Bank for International Supervision
51).Fiat money is best described by which of the following? – Inconvertible paper money made legal tender by a government decree
52).Which among the following is NOT a credit rating agencies? – Experian
53).What is the term used to explain the gap between total expenditure and total receipts including both the capital and revenue expenditure and receipts? – Budget deficit
54).When was the Banking Regulation Act enacted in India? – 1949
55).Which of the following is a fully owned subsidiary of RBI? – NHB
56). “Your Tech-friendly bank” is the tagline of – Indian Bank
57). Public and private sector banks which have a shortfall in lending to the priority sector are required to contribute allocated amounts to a designated fund to meet their obligations. Which is this special account? – The Rural Infrastructure Development Fund with NABARD
58). In case of foreign banks which do not meet the target of 32% lending to the priority sector, the shortfall has to be deposited with which authority? – SIDBI
59). Which is the contract/agreement under which an issuing bank at the request of the importer undertakes to make payment to the exporter against certain specified documents?– Letter of credit
60). Banks have the benefit of using substantial amount of money when cheques are sent in clearing as there is usually 2-3 days gap between debit of the account holder’s account and credit to the account of the payee/beneficiary of the cheque. What is this money known as? – Float money
61). A confirmed letter of credit is – Confirmed by a bank ( other than the issuing bank) in the exporter’s country
62). Factoring services is meant for exporters mainly. How is it described? – It guarantees realization of dues from buyer debtors
63). Which of the following instruments cannot be presented for payment in a clearing house? – Fixed deposit receipt
64). Cost of funds is an important element in deter-mining the base rate of lending by banks. Which explains aptly the cost of funds? – Interest paid on deposits plus interest paid on borrowings divided by total deposits and borrowings
65). What is the maximum period for which a fixed deposit can be accepted by a commercial bank? – 10 years
66). ICICI Bank headquarters located in – Mumbai
67). In case of personal loans from banks the interest rate applicable is which of the following? – Higher than the base rate
68). Which of the following ways of charging interest on loans is most beneficial to the borrower? – Daily reducing balance
69). What is the target for priority sector lending that foreign banks having more than 20 branches in India are required to fulfil? – 40%
70). Why do banks prefer customers to use ATMs to withdraw cash rather than coming to branches for this purpose? – Cost of ATM operations to the bank is much less
71). All deposits under small saving schemes of Post Offices are credited to the –National Small Saving Fund
72). Which of the following is a public sector bank? –IDBI bank
73). Banks earn income from fee based activities. Which of the following qualify as fee based business? – Selling insurance products
74). Banks are not comfortable in lending to the infrastructure sector. What are the reasons for this? – Banks find it difficult to fund infrastructure projects of 15 years and more, infrastructure projects require large scale funding, Infrastructure financing becomes a asset liability problem for banks
75).Who is the MD and CEO of UCO Bank? – Ravi KrishanTakkar
76). Cash balances held in the currency chests are the property of which of the following?– Reserve Bank of India
77). Which of the following statements is true about RBI’s branch licensing policy for banks? – Banks are permitted to open branches freely in Tier 2 to Tier 6 centres
78). Which of the following comes under financial inclusion ?
Opening of accounts of all the job card holders under MGNREGA, SukanyaSamriddhi Account, Accounts opened under PradhanMantri Jan DhanYojana
79). What is the maximum denomination of currency notes that can be printed in India? – Rs. 10,000
80). “Trust and Excellene since 1904” is the tagline of – City Union Bank
81). A savings account is considered to be an inoperative account if there is no operation in the account for a continuous period. What is this time period? – 2 years
82). Which of the following is a punishable offence for a bank account holder? – For bouncing of cheques issued by him
83). In case a public provident fund account does not have a nomination, what is the maximum amount that the legal heirs may get without a succession certificate? – Rs. 1,00,000
84). Expand IFAD? – International Fund for Agricultural Development
85). The rate of interest banks charge to its customers on credit facilities is linked to which bench-mark rate? – Base rate lending
86). Which of the following is at times mentioned as a direct debit facility? – ECS
87). Which of the following is necessary to transfer funds through the RTGS facility? – eneficiary’s bank account number, The IFSC number of the beneficiary’s bank branch, There is a minimum amount specified for transfer
88). How can an Indian Financial Services Code number be identified? – It is a 11 digit alpha numeric code, It is available on the cheque leaves of an individual’s cheque book, It is provided by the bank if asked
89). Which of the following cards require the monthly out standings in the card account to be paid in full within the due date of payment every month? – Charge card
90). Which of the following instruments cannot be presented for payment in a clearing house? – Fixed deposit receipt
91). Which of the following schemes available in the financial markets is not meant for investment purposes? – Letter of credit
92). Interest payable in savings account is – not regulated by RBI
93). Which of the following can be a nominee in respect of a deposit account? – Any individual
94). “The Bank for the changing world” is the tagline of – BNP Paribas
95). Which of the following cannot open a bank account? – Person of unsound mind
96). Small savings scheme like national savings certificates, public provident fund, monthly income schemes are popular among the salaried people. Which financial institutions manage these schemes? – Post offices
97). Which of the following do you think is the accepted practice? – Banks offer higher interestrates to senior citizens on their fixed deposits as compared to others
98). A bank customer could not get his grievance resolved by his bank even after referring his complaint to the designated official. Whom should he approach next? – Banking ombudsman
99). Make it happen” is the tagline of – Royal Bank of Scotland
100). What is common between Equity Linked Savings Schemes, National Savings Certificates and Public Provident Funds? – These are tax saving schemes
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