Banking Awareness Important Questions | IBPS | RRB | RBI -18

1. Banking Ombudsman is appointed by
A. Reserve Bank of India
B. Government of India
C. Concerned State Govt, where RBI office is located
D. Finance Minister
E. None of the above

2. As per estimates of the Planning Commission of India the target growth rate of 12th Five Year Plan is set to–
(A) 7 to 8%
(B) 8.0% to 8.5%
(C) 9% to 9.5%
(D) 10 to 10.5%
(E) 11%

3. What is the maximum period within which the aggrieved customer can approach Ombudsman ?
A. Within 2 year  
B. Within 1 year
C. Within one month  
D. No such limitation period
E. None of the above

4. What is the maximum amount for which the Award Can be given by OMBUDSMAN
A. Rs 1,00,000  
B. Rs 2,00,000
C. Rs 5,00,000  
D. Rs 10,00,000
E. No limit

5. Who will be appointed as Banking Ombudsman?
A. CGM or GM of RBI  
B. Deputy Governor of RBI
C. Governor RBI I is an ex-officio Ombudsman
D. Finance Secretary  
E. None of the above

6. KYC norms are liberalized in case of following accounts
A. Current Account  
B. Savings Account 
C. Term Deposit Account  
D. No Frills Account
E. None of the above.

7. The KYC does not include obtaining the following 
A. Identity Proof  
B. Address Proof
C. Customer Profile  
D. Vehicle details of the customer
E. None of the above

8. AML Stands for 
A. Anti Monitory Limit  
B. Anti Money Laundering 
C. Always money laundering  
D. Anytime Money Laundering 
E. None of the above 

9. When was the "Self Help Group" bank linkage programme started ?
A. 1992
B. 1995
C. 1998
D. 2001
E. 2002

10. If a Depositor is not a Senior Citizen and his Taxable Income is within the exempted limits  then he has to submit ——— to the Bank for not deducting tax at source 
A. Form 15G  
B. Form 15 H 
C. Form 61  
D. Form 60 
E. None of the above

11. Nomination is available for 
A. Deposit accounts 
B. Safe custody articles 
C. Lockers. 
D. Partnership firms 
E. Only A, B, C 

12. Nomination can be given only for: 
A. Individuals 
B. Joint Individuals 
C. Limited Companies 
D. Only A, and B 
E. None of the above 

13. Money deposited at a bank that cannot be withdrawn for at fixed period of time is known as a _____ 
A. Term deposit  
B. Checking Account 
C. Saving Bank deposit  
D. No Frills Accounts 
E. Current deposit 

14. Expand the term NREGA—
A. National Rural Employment Guarantee Act
B. New Rural Employment Guarantee Agency
C. National Rural Employment Guarantee Act
D. National Rural Employment Guarantee Agency
E. Net Rural Employment Guarantee Agency

15. Base Rate is the rate below which no Bank can allow their lending to anyone. Who will fix this 'Base Rate' for Banks? 
A. Individuals Banks Board 
B. Ministry of Commerce 
C. Ministry of Finance 
E. Interest Rate Commission of India 

16. NPA stands for
A. No Provision Account 
B. Non Performing Asset (An asset which ceases to generate income) 
C. No Profit Account  
D. Non-Personal Accounts 
E. None of the above 

17. RBI allowed common ATMs to be owned and managed by Non Banking Institutions. Such ATMs are called: 
B. Off Site ATMs 
C. Third Party ATMs 
D. White Label ATMs 
E. None of the above 

18. The per-capita income in India is estimated by ?
A. Central statistical organization
C. Central bank
D. Census commission

19. What is CTS 
A. Cash Transaction system (in banks) 
B. Cheque Transfer System 
C. Cheque Truncation System 
D. Cash Transfer System 
E. None of the above 
(CTS mean Cheque Truncation System - wherein instead of sending cheques physically to clearing  house, only scanned images will be sent. It is also called image based clearing. This system already started in many states of India. This reduces the collection of cheques time considerably and is  advantageous to the customers) 

20. What is India's rank in 2014 for Global Peace Index (GPI) that measured peace in 162 countries? 
A. 141  
B. 110 
C. 132  
D. 143 
E. 152 

21. The headquarters of European Union is situated in which of the following countries? 
A. UK 
B. Germany 
C. France 
D. Belgium 
E. Netherlands 

22. Which of the following is not a bank or finance company?
A. Barclays
B. BNP Paribas
C. Lufthansa

23. Leads for Home Loans can be obtained from?  
A. Traders 
B. Trusts 
C. Builders 
D. Cooperative societies 
E. None of these 

24. The target group for Small and Medium Enterprises (SME) loans is? 
A. Students 
B. Housewives 
C. Entrepreneurs 
D. Salaried persons 
E. Government undertakings 

25. The National Social Security Fund (NSSF) helps which of the following groups of society? 
A. Bank employees
B. Central government employees 
C. Workers in the unorganized sector 
D. Workers in the textile industry 
E. Women employees 

26. Which of the following tools is used by the RBI to control credit and monetary situations of the markets? 
D. Cash reserve Ratio (CRR)
E. Balance of trade 

27. Federal Reserves is the Central Bank of—
A. China
B. Canada
C.  United States of America
D. Japan
E. U.K

28. What happens when an economy is in recession? 
A. GDP growth slows down 
B. Unemployment rate rises 
C. Bankruptcies rise 
D. Both 1 and 2 
E. All 1, 2 and 3 

29. Which of the following is a Public sector bank?
1) Dena Bank
2) Karnataka Bank
3) South Indian Bank
4) Yes Bank
5) City Bank

30. Functions of Reserve Bank are: 
A. Bankers bank 
B. Banker to Government 
C. Lender of last resort 
D. Controlling financial requirements of banks through Repo/Reverse Repo 
E. All the above 

31. How many Deputy Governors will be there in RBI: 
A. 3 
B. 5 
C. 7 
D. 4 
E. No Deputy Governor will be appointed 

32. Which of the following is the tagline of the Bank of Baroda?
1) With you all the way
2) Pure banking Nothing else
3) The Banker to every Indian
4) Nation banks on us
5) India's International Bank 

33. Indian commercial banks are categorised into: 
A. Public Sector banks 
B. Foreign Banks 
C. Private Sector Banks 
D. All the above 
E. None of the above 

34. Regional Rural Banks have been set up with the basic objective of: 
A. Providing credit to semi-urban and urban population 
B. Providing deposits facilities to farmers 
C. Providing credit and deposit facilities to rural areas 
D. Providing credit, deposit and other banking facilities to people in rural areas 
E. None of the above
35. The following is a mechanism for injecting liquidity by RBI to the financial system: 
A. Reverse Repo 
B. Hike in CRR 
C. Hike in interest rate 
D. Repo Rate 
E. None of the above

36. ___ are Local Institutions functioning like Banks 
A. Local Area Banks 
B. Indigenous Banks 
C. Private Banks 
D. Financial Institutions 
E. All the above 

37. The first nationalisation of banks exercise was done on: 
A. 19.07.1969 
B. 19.07.1970 
C. 19.07.1967 
D. 15.08.1967 
E. None of the above 

38. How many banks were nationalised In the second phase in 1980: 
A. 5 
B. 6 
C. 7 
D. 4 
E. 1 

39. Whenever the RBI does some Open Market Operation transaction, it actually wishes to regulate which of the following?
A. Inflation only
B. Liquidity in economy
C. Borrowing powers of the banks
D. Flow of foreign direct investment
E. None of these 

40. Which of the following deposits do not attract TDS? 
A. Fixed Deposits 
B. Deposit Reinvestment Deposits 
C. Flexi Deposits 
D. Call Deposits 
E. Recurring Deposits

41. At present the rate of interest paid by RBI to Commercial Banks on Cash Reserve Ratio is : 
A. 3% 
B. 4% 
C. 5% 
D. No interest 
E. Only for above Rs. 1000 crore CRR balance. 

42. The Cash Reserve Ratio is to be maintained by Commercial Banks in the form of: 
A. Cash in hand at branches 
B. Balance with other banks 
C. Balance in a special account with RBI 
D. Funds in the currency chest 
E. Any of the above options. 

43. Increasing Cash Reserve Ratio from time to time by Reserve Bank of India leads to: 
A. Decrease in deposit 
B. Increasing in deposit 
C. Increase in lendable resources 
D. Decrease in lendable resources. 
E. Any of the above 

44. The interest on Marginal Standing Facility sanctioned by RBI to banks is: 
A. Repo rate + 1% 
B. Repo Rate + 2% 
C. Repo Rate + 3% 
D. One percent less than reverse repo rate
E. None of the above 

45. Who was the first governor of RBI? 
A. Osborne Smith 
B. James Taylor 
C. C. Desh Mukh 
D. B.R.Rao 
E. None of the above 

46. RBI was established in 1935 with recommendation of: 
A. The Hilton Young Commission 
B. All India Rural Credit Survey Committee 
C. Gorawala Committee 
D. Talwar Committee 
E. None of the above 

47. One rupee note and all coins will be issued by: 
A. Reserve Bank of India 
B. Central Government 
C. Central and State Governments collectively 
D. None of the above 
E. All the above 

48. Who will sign One Rupee Note? 
A. Governor- RBI 
B. Governors of concerned state governments 
C. Finance Secretary, Ministry of Finance 
D. Finance Minister 
E. None of the above 

49. What is MSF? 
A. Marginal Standing Facility 
B. Micro and Small Finance 
C. Medium Size finance 
D. Mid Term Sanction facility 
E. None of the above 

50. What does the letter 'L' denote in term 'LAF' as referred every now and then in relation to monetary policy of the RBI ?
A. Liquidity
B. Liability
C. Leveraged
D. Longitudinal
E. Linear

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