Set 17 - Banking General Awareness Quiz for SBI IBPS Bank PO/Clerk




  1. Under which kind of banking, the purchasing through net banking comes ?
    (1) Offline banking
    (2) Online banking
    (3) M-commerce
    (4) P-commerce
    (5) None of these

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    Ans. -  (2)
    Online banking is an electronic payment system that enables customers of a financial institution to conduct financial transactions on a website operated by the institution, such as a retail bank, virtual bank, credit union or building society.
  2. What is the full form of MIBOR ?
    (1) Mobile Inter Bank Offered Rate
    (2) Minimum Instruction Board of Resources
    (3) Mobile Inter Bank Offered Rate
    (4) Money International Banking Organization Research
    (5) None of these

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    Ans. - (1)
    MIBOR-Mobile Inter Bank Offered Rate. MIBOR, the interest rate at which banks can borrow funds, in marketable size, from other banks in the Indian interbank market.
  3. Money market is a market for :
    (1) Short term
    (2) Long term
    (3) Medibm term
    (4) It is a one day lending and borrowing market
    (5) None of these

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    Ans. - (1)
    Money Market-A segment of the financial market in which financial instruments with high liquidity and very short maturities are traded. The money market is used by participants as a means for borrowing and lending in the short term, from several days to just under a year.
  4. Which among the following is not an economist ?
    (1) Amartya Sen
    (2) Montek Singh Ahluwalia
    (3) Selman Khurshid
    (4) D.V. Subbarao
    (5) P. Chidambaram

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    Ans. - (3)
  5. Which of the following is not a negotiable instrument ?
    (1) Pay order
    (2) Cheque
    (3) Bill of exchange
    (4) Ware house receipt
    (5) All are negotiable instruments

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    Ans. - (4)
    A negotiable instrument is a document guaranteeing the payment of a specific amount of money, either on demand, or at a set time, with the payer named on the document.
  6. What is the main function of international monetary fund ?
    (1) Act as private sector lending arm of the World Bank
    (2) Help to solve Balance of Payment problems of member countries
    (3) Finance investment, loans to developing countries
    (4) Arrange international deposits from banks
    (5) None of these

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    Ans. - (2)
    The International Monetary Fund (IMF) is an organization of 188 countries, working to
    foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world.
  7. Which of the following is the biggest borrower in India ?
    (1) Government of India
    (2) State Government
    (3) Railway
    (4) PSU
    (5) None of these

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    Ans. - (1)
  8. Which of the following would result in the fall in asset prices ?
    (1) High liquidity in the economy
    (2) Low liquidity in the economy
    (3) RBI allow more banks to pay
    (4) RBI increases bank rate
    (5) None of these

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    Ans. -  (2)
  9. Which of the following is not a public sector unit/bank ?
    (1) HPCL
    (2) IDBI
    (3) HDFC
    (4) Yes
    (5) Both (3) and (4)

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    Ans. - (5)
  10. Which of the following organizations/ institutions will be set-up core banking
    infrastructure for rural banks ?
    (1) RBI
    (2) SIDBI
    (3) NABARD
    (4) SEBI
    (5) None of these

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    Ans. - (3)
  11. Who was the first Governor of RBI?
    (1) Hilton Young
    (2) C. D. Deshmukh
    (3) Paul Samuelson
    (4) 0. A. Smith
    (5) None of these

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    Ans. - (4)
    The central bank of India, which was established on April 1, 1935, under the Reserve Bank of India Act. The RBI uses monetary policy to create financial stability in India and is charged with regulating the country's currency and credit systems.
  12. At the time of nationalization who was the Governor of RBI ?
    (1) C.D. Deshmukh
    (2) O.A. Smith
    (3) J.B. Taylor
    (4) K. C Negy
    (5) None of these

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    Ans. -  (1)
    Nationalization was happened on 1st January, 1949.
  13. In which of the following banks one cannot open personal account ?
    (1) SBI
    (2) Private sector bank
    (3) RBI
    (4) HDFC
    (5) None of these

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    Ans. - (3)
  14. Paper currencies of our country are issued by RBI under :
    (1) Section 22 of the RBI Act 1934
    (2) Section 24 of the RBI Act 1934
    (3) Section 32 of the RBI Act 1934
    (4) Section- 26 of the RBI Act 1934.
    (5) None of these

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    Ans. - (1)
    Paper currency - Currency issued by a government or central bank and consisting of printed paper that can circulate as a substitute for specie.
  15. Bank rate of RBI is also known as :
    (1) Interest rate
    (2) Discount rate
    (3) Fed rate
    (4) Bid rate
    (5) None of these

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    Ans. - (1)
    The interest rate at which a nation's central bank lends money to domestic banks. Often these loans are very short in duration. Managing the bank rate is a preferred method by which central banks can regulate the level of economic activity.
  16. Which of the following is not the any element of quantitative credit control policy of RBI ?
    (1) CRR
    (2) SLR
    (3) Selective credit control
    (4) Open market operation
    (5) None of these

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    Ans. - (3)
    Selective methods of credit control are a comparatively recent development in monetary management by the central bank.
  17. The- apex organization of Indian money Market is :
    (1) SBI
    (2) RBI
    (3) Government of India
    (4) SEBI
    (5) None of these

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    Ans. - (2)
  18. If the cash reserve is lowered by RBI, what will be its effect on credit creation ?
    (1) Decrease
    (2) Increase
    (3) Constant
    (4) Slightly decrease
    (5) None of these

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    Ans. -  (2)
  19. The expansion of money supply of an economy depends upon :
    (1) The policy of CRR
    (2) The bank rate policy
    (3) Open market operation
    (4) All of these
    (5) None of these

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    Ans. - (4)
  20. A currency, the exchange value of which performance by its economy, is :
    (1) Soft currency
    (2) Hard currency
    (3) Fiat currency
    (4) Hot currency
    (5) None of these

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    Ans. -  (2)
    currency, usually from a highly industrialized country, that is widely accepted around the world as a form of payment for goods and services. A hard currency is expected to remain relatively stable through a short period of time, and to be highly liquid in the forex market.


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