Banking & Economic Awareness for IBPS PO Main

1. We read in the newspapers that the RBI works for the state governments as a banker as per agreement signed between the RBI and these state governments. At present, which of the following is the ONLY state in India which has not yet signed any such agreement with the RBI?

• 1) Manipur
• 2) Sikkim
• 3) Jammu & Kashmir
• 4) Kerala
• 5) Nagaland

2. The OLTAS system is related to which of the following?

• 1) Reserve Bank of India
• 2) Department of Telecommunications
• 3) Income Tax Department
• 4) Ministry of Corporate Affairs
• 5) Ministry of Foreign Affairs

3. Consider the following currency notes:

(A) Rs 10

(B) Rs 5

(C) Rs 2

(D) Rs 1

At present, which of the above is/are being printed?

• 1) Only (A)
• 2) Only (A) and (B)
• 3) Only (A), (B) and (C)
• 4) All (A), (B), (C) and (D)
• 5) None of the above

4. Which of the following is the highest denomination of which RBI can issue a note?

• 1) Rs 1000
• 2) Rs 5000
• 3) Rs 10,000
• 4) Rs 20,000
• 5) Rs 50,000

5. Which of the following states of India is best known for the cultivation of saffron?

• 1) Sikkim
• 2) Assam
• 3) Jammu and Kashmir
• 4) Meghalaya
• 5) Goa

6. Centurion Bank of Punjab was taken over by which of the following banks?

• 1) ICICI
• 2) IDBI
• 3) HDFC
• 4) SBI
• 5) PNB

7. Kutir Jyoti scheme is related to which of the following?

• 1) Rural housing
• 2) Rural electrification
• 3) Rural education
• 4) Rural industries
• 5) Rural sanitation

8. Consider the following:

(A) Growth rate of the economy

(B) Replacement demand

(C) Reserve stock requirements

(D) Budget allocations to various departments

Which of the above are used by the RBI to estimate the demand for banknotes?

• 1) Only (A) and (B)
• 2) Only (A), (B) and (C)
• 3) Only (B) and (C)
• 4) Only (A), (B) and (D)
• 5) All (A), (B), (C) and (D)

9. Consider the following:

(A) Currency printing

(B) Currency replacement

(C) Currency distribution

Which of the above is/are the functions of “Currency Chests”?

• 1) Only (A) 
• 2) Only (A) and(B)
• 3) Only (B) and (C) 
• 4) Only (C)
• 5) All (A), (B) and (C)

10. Consider the following:

(A) Foreign Currency (Non-Resident) Account (Banks) Scheme [FCNR (B) Account]

(B) Non-Resident (External) Rupee Account Scheme [NRE Account]

(C) Non-Resident Ordinary Rupee Account Scheme [NRO Account]

The individuals or entities of Bangladesh/Pakistan nationality/ownership can open which of the above accounts?

• 1) Only (A)
• 2) Only (A) and (B)
• 3) Only (A) and (C)
• 4) All (A), (B) and (C)
• 5) None of these

Answers -----------

1. 2
2. 3
3. 1
4. 3
5. 3
6. 3
7. 2
8. 2
9. 4
10. 4