Banking Awareness Quiz - IBPS CLERK IV

Banking Awareness Quiz - IBPS CLERK IV 

1.    An account holder draws a cheque on a?

(1) Banker of the Payee
(2) Banker of the Drawee
(3) Banker of the Drawer
(4) Banker of the Endorsee
(5) None of the above

2.     The Bank should comply and intimate the compliance of Award to Ombudsman?
(1) Within Two Months
(2) Within 3 months
(3) Within one month
(4) Within one year
(5) None

3.    Capital adequacy is worked out based on?
(1) Total demand and time liabilities
(2) Net demand and time assets
(3) Risk weighted assets
(4) Risk weighted liabilities                                              
(5) None of the above

4.    Statutory Liquidity Ratio (SLR) can be maintained in the following ways?
(1) Cash
(2)  Gold
(3) Unencumbered approved securities
(4) All of these
(5) None of the above

5.    What was the deposits criteria of 14 Banks nationalized on 19th July 1969?
(1) Rs.1000 Crore
(2) Rs. 500 Crore
(3) Rs. 100 Crore
(4) Rs. 50 Crore
(5) None of the above

6.    What are the features of selective credit control?
(1) They distinguish between essential and non-essential uses of Bank credit
(2) Only non-essential uses are brought under the scope of Credit Bank controls
(3) They effect not only the lenders but also the borrowers
(4) All the above
(5) None of the above

7.    Which of the following are the targets for different categories of priority sector?
(1) Overall target 40% of net Bank credit
(2) Agriculture loans (direct and indirect) 18%
(3) Priority sector target for foreign Banks is 32%
(4) All the above
(5) None of the above

8.    Benefits in core Banking is ?
(1) Reliable centralized data recovery
(2) Data warehousing and data mining technologies
(3) Integrated customer centric services
(4)  All the above     
(5)None   

9.     Cheque truncation can be done by?
(1) Using MICR data
(2) Sending cheque by speed post
(3) Using image processing
(4) 1 & 3
(5) None of the above

10.  Bank rate is decided by?
(1) Indian bank association
(2) Individual commercial bank
(3) Finance ministry
(4) Any one of the above can decide
(5) None of the above

11.  What is nomination?  
(1) A facility given to depositors by the Government
(2) It confers a right to the nominee to receive payment of a deposit after death of depositors
(3) It is a process of appointing legal heir by the depositors
(4) It is a part of will on behalf of a depositor
(5) None of the above

12.  BFS- Board for Financial Supervision constituted in 1994 by RBI to undertake consolidated supervision of?
(1) Commercial Banks
(2) Financial Institutions
(3) Non Banking Finance Companies
(4) All the above
(5)  None of the above

13.   'One Family one Bank' is the tagline of which Bank?
(1) Bank of India
(2) Indian Bank
(3) Bank of Maharashtra
(4) Union Bank of India
(5) None of the above

14.   Research Institutions set up by Reserve Bank of India are?
(1) IDRBT (Institute for Development and Research in Ban- king Technology), Hyderabad
(2) IGIDR(Indira Gandhi Institute of Development Research), Mumbai
(3) NIBM (National Institute of Bank Management), Pune
(4) Only a & b
(5) All the above

15.  Who is the Chairman of the Technical Committee formed to make a study on improvement in Mobile Banking:
(1) Bimal Jalan
(2) Rahuram Rajan
(3) B Sambamurthy
(4) Pulak Kumar Sinha
(5) None of the above

16.  In “NEFT” E stands for –

(1) Election                       

(2) Email

(3) Enlisted                       

(4) Ecstasy

(5) Electronic

17.  The Basic Savings Bank Deposit Account (BSBDA) issued by banks is offered to which of the following customers?
1) Farmers                                   

2) Daily wage earners                  

3) Self Help Group members
4) Students                                   

5) All the customers

18.  What is the validity of “Kisan Credit Card”?

(1) 1 year                         

(2) 2 year             

(3) 10 years

(4) 5 years                        

(5) 3 years

19.  The Negotiable instrument is _____.

(1) Cheque                                               

(2) Demand Draft            

(3)  Bill of Exchange 

(4)  All of the above                  

(5) Deposit Slip 

20.  The minimum paid up capital required for both small and payment banks is –

(1) Rs 500 Crore                 

(2) Rs 50 Crore                   

(3) Rs 100 crores

(4) Rs 200 Crore                 

(5) None of these

Answers:

1	3	11	2
2	3	12	4
3	3	13	3
4	4	14	5
5	4	15	3
6	4	16	5
7	4	17	5
8	4	18	5
9	4	19	4
10	5	20	3

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Volkswagen recalls 442,000 cars to fix suspension problem

Volkswagen is recalling 442,000 Jettas and Beetles to fix a problem that can cause rear suspension failure if the cars aren’t fixed properly after a crash.

The recall covers 2011 through 2013 Jettas and 2012 through 2013 Beetles.

VW says in documents posted by U.S. safety regulators on Wednesday that if rear trailing arms are damaged in a crash and not repaired correctly, they can fracture suddenly. That can cause loss of control and possibly a crash. Trailing arms connect the axle to the frame.

The company says there have been no crashes or injuries in the U.S., but there were reports of fractured trailing arms mainly in Asian countries.

Dealers will inspect trailing arms for damage and install sheet metal to help prevent a loss of vehicle control.

The sheet metal will be installed at no cost to customers, but customers will have to pay for repairs if their suspension was damaged, VW said.

Parts currently aren’t available, but VW will notify customers to take their cars to dealers for a free inspection.

Customers can call VW at (800) 893-5298.

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Kotak Bank, ING Vysya Bank shares zoom on reported merger talks

MUMBAI, NOV 20:  

ING Vysya Bank (IVB), which is reported to be in talks for a possible merger with Kotak Mahindra Bank (KMB), has informed the Bombay Stock Exchange (BSE) that it “will abide by its obligations to make appropriate disclosures as and when such disclosures are necessitated by decisions taken by the company''.

There are reports that the Bengaluru headquartered IVB may be merged with Mumbai-headquartered KMB.

The share swap ratio that market players are expecting for the merger is two shares of KMB for every 2.5 shares of IVB held.

Kotak Mahindra Bank shares soared 7.28 per cent to end at Rs. 1,157.05 on the BSE and ING Vysya Bank shares surged 7.15 per cent to end at Rs. 814.20.

As of September-end 2014, ING Vysya Bank had deposits and advances aggregating Rs. 44,652 crore and Rs.40,066 crore, respectively. It has 573 branches and extension counters and 635 ATMs across the country.

It was formed from the 2002 acquisition of an equity stake in Indian Vysya Bank by the Dutch ING Group. This merger marked the first between an Indian bank and a foreign bank. ING Group holds 42.73 per cent stake in the bank.

Shailendra Bhandari, MD & CEO, ING Vysya Bank, had submitted his resignation last month and the board of directors, at its meeting held October 28,2014, approved his letter of resignation. Bhandari will continue to be in the office till January 31, 2015.

In pursuance of its succession plan, the board, at the same meeting, proposed the appointment of Uday Sareen, currently Deputy CEO and Wholesale Banking Head as MD & CEO, subject to the approval of Reserve Bank of India.

As of September-end 2014, KMB (standalone) had deposits and advances aggregating Rs. 68,103 crore and Rs. 60,948 crore, respectively. It has 573 branches and extension counters and 635 ATMs across the country. KMB has 641 full-fledged branches across 363 locations and 1,159 ATMs.

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$1 bn. SBI loan for Adani to build Australian coal mine

SBI Loan to Adani for Coal Mine

Adani Enterprises won support on Monday from the State Bank of India (SBI) and an Australian state to help it build a $7 billion coal mine, defying a slump in coal prices to 5-1/2-year lows that has stalled rival projects.

The infrastructure conglomerate, whose founder, Gautam Adani, has close ties with Prime Minister Narendra Modi, has signed a memorandum of understanding for a loan of up to $1 billion from the SBI for the mine, rail and port project, which it aims to build by end-2017.

The loan, which would be one of the largest extended by an Indian bank for an overseas project, was announced as Mr. Adani was in Brisbane with a business delegation for the G20 summit, which Mr. Modi attended over the weekend.

“The MoU with SBI is a significant milestone in the development of our Carmichael mine,” Mr. Adani said in a statement.

Mr. Adani, 52, has enjoyed a rapid rise in Indian business circles in recent years, a rise often associated with Mr. Modi, who until this year headed the government in Gujarat where Adani is based and where it has a huge coal-fired power plant.

Mr. Adani also won a commitment from the Queensland State government to take short-term, minority stakes in rail and port infrastructure needed to unlock the massive coal reserves in the untapped Galilee Basin.

Australia’s federal and Queensland governments are eager to see the mine built following the loss of more than 4,000 coal jobs over the past two years.

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Banking Awareness Questions For IBPS PO - 4 Exam

1. Banking Awareness Quiz

1.    Interest payable on Savings bank account is :

(1) not regulated by RBI

(2) regulated by State Govt

(3) regulated by Central Govt

(4) regulated by individual banks

(5) None of these

2.    Money lend for 15 days or more inter-bank is called:

(1) Call money                 

(2) notice money

(3) term money                

(4) All of these

(5) None of these

3.    The Statutory Liquidity Ratio (SLR), the amount of liquid assets such as cash, precious metals and other short-term securities are kept with:

(1) RBI                             

(2) Individual banks          

(3) Finance Ministry         

(4) A bank designated by RBI

(5) None of these

4.    The rate of interest, banks charge to its main/major and prime; customers is popularly called as

1) Prime Lending Rate     

2) Repo Rate 

3) Cost of Fund                

4) Risk Premium  

5) Reverse Repo Rate

5.    Micro Credit or Micro finance is a novel approach to banking with the poor. In this approach bank credit is extended to the poor through-

(1) Self Help Groups                                            

(2) Anganwadees

(3) Cooperative Credit Societies             

(4) RBI                             

(5) None of these

6.    Fiscal Responsibility and Budget Management Act (FRBM) concerns:

I. Fiscal Deficit                             

II. Balance of Payment                

III. Revenue Deficit

(1) Only I                          

(2) Only II                         

(3) I & II                            

(4) I & III                           

(5) All of these

7.    Which of the following cannot be called as a Debt Instrument as referred in financial transactions?

(1) Certificate of Deposits          

(2) Bonds

(3) Stocks                                   

(4) Commercial Paper

(5) Loans

8.    Whenever RBI does some open market operation transactions actually it wishes to regulate which of the following?

(1) Inflation only

(2) Liquidity in economy

(3) Borrowing powers of the banks

(4) Flow of Foreign Direct Investment

(5) None of these

9.    Expand the term LRMT?

(1) Liquidity Risk Monitoring Tools

(2) Liquidity Ratio Monitoring Tools

(3) Liquidity Rate Monetary Tools

(4) Liquidity Ratio Monetary tools

(5) None of these

10.  Bank assurance is –

(1) an insurance scheme to insure bank deposits.

(2) an insurance scheme exclusively for the employees of banks

(3) a composite financial service offering both bank & insurance products

(4) a bank deposit scheme exclusively for employees

(5) None of these

11.  The objective of Know Your Customer (KYC) norms is?

(1) To give boost to bank deposits                                             

(2) To safeguard bank advances

(3) To monitor transactions of suspicious nature            

(4) Both 1 and 2

(5) None  of these

12.  Recently RBI has issued draft guidelines for setting up small banks and payment banks. The minimum paid-up capital requirement of both payments banks and small banks is 

(1) Rs. 50 crore                            

(2) Rs. 20 crore                

(3) Rs. 100 crore

(4) Rs. 40 crore                            

(5) Rs. 500 crore

13.  Max money that can remitted to Nepal from any of the NEFT-enabled branches in India – 

(1) Rs 50,000                               

(2) Rs 10,000                   

(3) Rs 20,000

(4) Rs 25,000                               

(5) Rs 5000

14.  The letter ‘F’ denotes which of the following in the term IFRS.

(1) Formative                   

(2) Formal

(3) Functional                   

(4) Fiscal

(5) Financial

15.  Which of the following rates is not decided by RBI?

(1) Bank Rate                  

(2) Repo Rate

(3) Reverse Repo rate     

(4) Prime Lending Rate

(5) Cash Reserve Ratio

16.  Consider the following in context with the CVV or Card security code of an ATM or Credit card:

(A) Magnetic Stripe

(B) Front of the in embossed or printed digits

(C) Back of the card as a separate group of 3 digits to the right of the signature strip.

At which among the above locations CVV or Card security code of an ATM is found?

(1) A & B

(2) B & C

(3) A & C

(4) All of the above

(5) None of these

Answers:

Qs	Ans	Qs	Ans	Qs	Ans
1	4	7	3	13	1
2	3	8	2	14	5
3	2	9	1	15	4
4	1	10	3	16	3
5	1	11	3
6	4	12	3

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