IBPS RRB Officer Scale I Mains General Awareness Questions Day – 232

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1) The initial corpus of National Investment and Infrastructure Fund in order to boost financing in infrastructure sector of the country is-

a) Rs 5000 crore

b) Rs 10000 crore

c) Rs 15000 crore

d) Rs 20000 crore

e) Rs 50000 crore

2) The validity period of a demand draft issued by a bank is-

a) 1 week

b) 15 days

c) 1 month

d) 3 months

e) 6 months

3) What is the minimum paid-up capital required to establish a payments bank in India as per the guidelines of Reserve Bank of India?

a) Rs 100 crore

b) Rs 200 crore

c) Rs 300 crore

d) Rs 500 crore

e) Rs 50 crore

4) Banking Ombudsman is responsible for redressing the grievances of customers regarding the services provided by banks in India. If a customer is not satisfied with the decision of the Ombudsman, he or she will approach which of the following authorities?

a) Governor of RBI

b) Deputy Governor of RBI

c) Ministry of Finance

d) Any court of law

e) Chairman of the concerned bank

5) Teaser rates are related to which of the following kinds of loan portfolio of a bank?

a) Personal Loan

b) Car Loan

c) Home Loan

d) Rent against future Receivables

e) All of the above

6) Where is Anshi National Park?

a) West Bengal

b) Karnataka

c) Tamilnadu

d) Kerala

e) None of these

7) Bern is the capital of which country?

a) Switzerland

b) Germany

c) Serbia

d) Lebanon

e) Barbados

8) The headquarters of North Atlantic Treaty Organization (NATO) is situated at_______

a) Warsaw

b) Paris

c) Hague

d) Geneva

e) Brussels

9) Khan Shaheb Osman Ali Stadium is located in?

a) Bangladesh

b) UAE

c) Pakistan

d) Afghanistan

e) None of the above

10) The Fiscal Responsibility and Budget Management Act was passes in the year_____

a) 1999

b) 1992

c) 2000

d) 2003

e) 2005

Answers :

1) Answer: d)

The objective of NIIF would be to maximize economic impact mainly through infrastructure development in commercially viable projects, both Greenfield and Brownfield, including stalled projects. It could also consider other nationally important projects, for example, in manufacturing, if commercially viable.

The initial authorized corpus of NIIF would be Rs. 20,000 crore, which may be raised from time to time, as decided by Ministry of Finance. Government can provide up to 20000 crore per annum into these funds.

2) Answer: d)

As per RBI guidelines, with effect from April 1, 2012, the validity period of Cheques, Demand Drafts, Pay Orders and Banker’s Cheques will be reduced from 6 months to 3 months, from the date of issue of the instrument.

3) Answer: a)

The objectives of setting up of payments banks will be to further financial inclusion by providing (i) small savings accounts and (ii) payments/remittance services to migrant labour workforce, low income households, small businesses, other unorganised sector entities and other users.

The minimum paid-up equity capital for payments banks shall be Rs. 100 crore.

The payments bank should have a leverage ratio of not less than 3 per cent, i.e., its outside liabilities should not exceed 33.33 times its net worth (paid-up capital and reserves).

4) Answer: b)

The Banking Ombudsman Scheme enables an expeditious and inexpensive forum to bank customers for resolution of complaints relating to certain services rendered by banks. The Banking Ombudsman Scheme is introduced under Section 35 A of the Banking Regulation Act, 1949 by RBI with effect from 1995.

If one is not satisfied with the decision passed by the Banking Ombudsman, one can approach the appellate authority against the Banking Ombudsmen’s decision. Appellate Authority is vested with a Deputy Governor of the RBI.

One can also explore any other recourse and/or remedies available to him/her as per the law.

The bank also has the option to file an appeal before the appellate authority under the scheme.

5) Answer: c)

If a bank offers a slightly lower rate in the initial years and higher rate in later years, it is called a teaser loan.

For this type of loan an introductory rate is offered. It is an interest rate charged to a customer during the initial stages of a loan. This rate, which can be as low as 0%, is not permanent. It has an expiration after a specified period of time.

Under the ‘teaser loan’ offer a bank charges lower interest rates for the first two or three years and later on from the fourth year the interest rate will automatically get reset to the then prevailing base rates.

6) Answer: B)

There are total 5 National Parks in Karnataka. Namely-

  • Anshi National Park
  • Bandipur National Park – Famous for Royal Bengal tiger
  • Banerghutta National Park
  • Kudremukh National Park
  • Nagarahole National Park

7) Answer: a)

The city of Bern is the de facto capital of Switzerland. The official language of Bern is German, but the most spoken language is a Alemannic Swiss German dialect, Bernese German. In 1983 the historic old town in the centre of Bern became a UNESCO World Heritage Site. Bern is ranked among the world’s top ten cities for the best quality of life (2010).

8) Answer: e)

North Atlantic Treaty Organization (NATO) also called the North Atlantic Alliance, is an intergovernmental military alliance based on the North Atlantic Treaty which was signed on 4 April 1949. The organization constitutes a system of collective defence whereby its member states agree to mutual defence in response to an attack by any external party. NATO’s headquarters are located in Haren, Brussels, Belgium, where the Supreme Allied Commander also resides. Belgium is one of the 28 member states across North America and Europe, the newest of which, Albania and Croatia, joined in April 2009. An additional 22 countries participate in NATO’s Partnership for Peace program, with 15 other countries involved in institutionalized dialogue programmes. The combined military spending of all NATO members constitutes over 70 percent of the global total. Members’ defence spending is supposed to amount to 2 percent of GDP.

9) Answer: a)

Khan Shaheb Osman Ali Stadium is a cricket stadium located in Fatullah, Narayanganj in central Bangladesh. It has a capacity of around 25,000 people

Cricket stadiums in UAE- Sheikh Zayed Cricket Stadium (Abu Dhabi), Ajman Oval (Abu Dhabi)

Cricket Stadiums in Afghanistan- Ghazi Amanullah Khan International Cricket Stadium, Khost City Stadium

Cricket Stadiums in Pakistan- Asghar Ali Shah stadium, Arbab Niyaz Stadium, Gaddafi Stadium, Zafar Ali Stadium

10) Answer: d)

The Fiscal Responsibility and Budget Management Act, 2003 (FRBMA) is an Act of the Parliament of India to institutionalise financial discipline, reduce India’s fiscal deficit, improve macroeconomic management and the overall management of the public funds by moving towards a balanced budget.

The main purpose was to eliminate revenue deficit of the country (building revenue surplus thereafter) and bring down the fiscal deficit to a manageable 3% of the GDP by March 2008. However, due to the 2007 international financial crisis, the deadlines for the implementation of the targets in the act was initially postponed and subsequently suspended in 2009. In 2011, given the process of ongoing recovery, Economic Advisory Council publicly advised the Government of India to reconsider reinstating the provisions of the FRBMA.

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