Set 12 - Banking General Awareness Quiz for SBI IBPS Bank PO/Clerk




  1. Which of the following statement is not correct about RBI ?
    (1) RBI acts as a banker to government
    (2) RBI has control over the lending activities of chit funds
    (3) RBI plays important role in foreign exchange
    (4) RBI regulates monetary policy
    (5) None of these

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    Solution : (2) Second option is not correct as RBI does not have control on the lending activities of chit funds.
  2. In banking, we most of the time across a term dichotomy, what does it mean ?
    (1) existence of two markets
    (2) existence of only one market
    (3) existence of more than three markets
    (4) existence of more than four markets
    (5) None of these

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    Solution : (1) Dichotomy means existence of two markets organized and unorganized.
  3. Central Board of Excise and Customs (CBEC) is considered to be the highest authority in India for which of the following taxes ?
    (1) Direct tax
    (2) Indirect tax
    (3) Sales tax
    (4) Both 1 & 2
    (5) None of these

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    Solution :  (2) CBEC-Highest body for  Indirect tax CBDT-Highest  body for Direct tax
  4. The National rural health mission aims to reduce :
    (1) Decrease in the country
    (2) Infant mortality rate
    (3) Maternal mortality rate
    (4) Health related diseases in rural areas
    (5) None of these

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    Solution : (2)
  5.  If a company splits its stock 3 for 2, how many additional shares will be issued to an investor who owns 200 shares ?
    (1) 100
    (2) 200
    (3) 300
    (4) 500
    (5) 600

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    Solution : (1)
  6. Which of the following is / are measure(s) to control inflation ?
    (1) Decreasing aggregate demand
    (2) Increasing aggregate supply
    (3) Decreasing money supply
    (4) Both 1 and 2
    (5) None of these

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    Solution :  (4) Inflation is the percentage change in the value of the Wholesale Price Index (WPI) on a year-on year basis.
  7. Which of the following account is considered best for those who can save regularly and expect to earn a good return on the deposits over a period of time ?
    (1) Recurring deposit account I
    (2) Fixed deposit account
    (3) Savings account
    (4) Current deposit account
    (5) None of these

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    Solution : (1)  Recurring deposit account is considered to be best suitable for those who save regularly.
  8. When the Indian rupee is losing its value against dollar, what is this called in economic terms ?
    (1) Devaluation
    (2) Revaluation
    (3) Degradation
    (4) Depreciation
    (5) None of these

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    Solution :  (4) When Indian Rupee is losing  its value against dollar, it is called depreciation.  Depreciation, i.e. a decrease in an asset's value, may be caused by a number of other factors as well such as unfavorable market conditions, etc.
    Machinery, equipment,  currency are some examples of assets that are likely to depreciate over a specific period of time. Opposite of depreciation is appreciation which is increase in the value of an asset over a period of time.
  9. The first public sector bank in India which obtained license for internet banking from RBI is :
    (1) Oriental bank of commerce
    (2) Punjab national bank
    (3) Corporation bank
    (4) State bank of India
    (5) None of these

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    Solution : (2)
  10. In section of which act, the offence of money laundering has been defined ?
    (1) Prevention of money laundering act , 2000
    (2) Prevention of money laundering act, 2004
    (3) Prevention of money laundering act , 2002
    (4) Prevention of money laundering act , 2007
    (5) None of these

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    Solution : (3)
  11. Which of the following is / are type(s) of negotiable instrument(s) ?
    (1) Cheques
    (2) Promissory note
    (3) Bill of exchange
    (4) Only (1) and (2)
    (5) None of these

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    Solution : (5)
  12. Which among the following does not deal with export promotion ?
    (1) Trade development authority
    (2) State trading corporation of India
    (3) Cooperative marketing
    (4) Minerals and metals trading corporation
    (5) None of these

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    Solution :  (3) ; Cooperative marketing  societies does not deal with export promotion. The basic objective of Export Promotion Councils is to promote and develop the exports of the country. Each Council is responsible for the promotion of a particular group of products, projects and services .
  13. Which among the following information is not a part of the code line on MICR cheque / drafts ?
    (1) Cheque number
    (2) City cqde
    (3) Bank code
    (4) Branch code
    (5) Type of account code

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    Solution : (5)
  14. Fiancial year in banks is a peria between :
    (1) 1 January to 31 December
    (2) 1 March to 30 April
    (3) 1 April to 31 March
    (4) 1 July to 30 June
    (5) None of these

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    Solution : (3)
  15. Which of the following produ launched by banks is working o the principle of 'Buy now pa later' ?
    (1) ATM
    (2) Debit Card
    (3) Credit Card
    (4) Master Card
    (5) Net Banking

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    Solution : (3)
  16. Power of Attornety refers to :
    (1) An authority to operate a bank account
    (2) An instrument by which person is empowered to ac for another person
    (3) Power of another person
    (4) All of 1, 2 and 3
    (5) None of these

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    Solution : (4)
  17. RBI set up committee on computerization in banks under the chairmanship of
    (1) C. Rangrajan
    (2) Usha Thorat
    (3) Bimal jalan
    (4) Raghuram Rajan
    (5) None of these

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    Solution : (1) C. Rangrajan Committee was based on the computerization in banks.
  18. Name the first Indian commercial bank which was a wholly owned and managed by Indians ?
    (1) Punjab National Bank
    (2) Union Bank of India
    (3) Central Bank of India
    (4) Allahabad bank
    (5) None of these

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    Solution : (3)
  19. Which of the following can be considered as a permanent address Proof ?
    (1) Electricity bill
    (2) Identity card (subject to the bank's satisfaction )
    (3) Telephone bill
    (4) Both (1) and (3)
    (5) None of these

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    Solution : (4)
  20. Who gives guidelines for 'Know Your Customer' norms ?
    (1) SBI
    (2) RBI
    (3) SEBI
    (4) BIS
    (5) None of these

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    Solution : (2) Know Your Customer (KYC) is the process used by a business to verify the identity of their clients. The term is also used to refer to the bank regulation which governs these activities.


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