Set 20 – Banking General Awareness Quiz for SBI IBPS Bank PO/Clerk

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  1. Which of the following is not a tool in the hands of RBI to control the inflationary pressure in the country ?
    (1) Bank rate
    (2) Special drawing rights
    (3) Statutory liquidity ratio
    (4) Cash reserve ratio
    (5) None of these

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    Solution :    (2)
    The SDR is an international reserve asset, created by the IMF in 1969 to supplement Its member countries’ official reserves. Its value is based on a basket of four key international currencies, and SDRs can be exchanged for freely usable currencies.
  2. Certificates of deposits have a minimum value of :
    (1) 1 Lakh
    (2) 10 Lakh
    (3) 12 Lakh
    (4) 15 Lakh
    (5) None of these

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    Solution :    (1)
    Certificate of Deposit (CD)-A savings certificate entitling the bearer to receive interest. A CD bears a maturity date, a specified fixed interest rate and can be issued in any denomination. CDs are generally issued by commercial banks and are insured by the FDIC.
  3. On the recommendation of which of the following NABARD was established ?
    (1) Rangarajan
    (2) Shivraman
    (3) Narasingam
    (4) Vijay Kelkar
    (5) None of these

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    Solution :    (2)
    National Bank for Agriculture and Rural Development (NABARD) is an apex development bank in India having headquarters based in Mumbai (Maharashtra) and other branches are all over the country.
  4. Which among the following is not decided by RBI ?
    (1) Bank Rate
    (2) Repo rate
    (3) Base rate
    (4) CRR
    (5) None of these

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    Solution :   (3)
  5. The merchant banking activities in India are governed by which of the following bodies ?
    (1) RBI
    (2) IRDA
    (3) SEBI
    (4) Union Finance Ministry
    (5) Both RBI and SEBI

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    Solution :    (3)
    The Securities and Exchange Board of India (SEBI) is the regulator for the securities market in India. It was established in the year 1988 and given statutory powers on 12 April 1992 through the SEBI Act, 1992.
  6. Which of the following types of institutions operate in call money market only as lenders ?
    (1) Primary dealers
    (2) State Bank of India
    (3) Commercial Banks
    (4) Insurance companies
    (5) None of these

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    Solution :    (4)
  7. ATM cards are issued to a person who maintains any of the following accounts with a bank:
    (1) Saving Bank Account
    (2) Term deposit account
    (3) Current bank account
    (4) Both (1) and (3)
    (5) None of these

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    Solution :    (4)
  8. The availability of cash and other cash like marketable instruments that are useful in purchases and investments are commonly known as ;
    (1) Cash crunch
    (2) Liquidity
    (3) Marketability
    (4) Credit
    (5) None of these

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    Solution :    (2)
    Marketable securities are unrestricted financial instruments which can be readily sold on a
    stock exchange or bond exchange. Marketable securities are often classified into two groups : marketable equity securities and marketable debt securities.
  9.  The Indian rupee is :
    (1) Token coin
    (2) Gold coin
    (3) Standard-token coin
    (4) Standard coin
    (5) None of these

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    Solution :    (3)
  10.  NBFC stands for :
    (1) Non Banking Financial Constitution
    (2) New Bank Financial Constitution
    (3) Non Banking Free Co-industry
    (4) Newly Open Banking Financial Constitution
    (5) None of these

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    Solution :    (5)
    Non-banking financial companies, or NBFCs, are financial institutions that provide banking services, but do not hold a banking ” license. These institutions are not allowed to take deposits from the public. Nonetheless, all operations of these institutions are still covered under banking regulations.
  11. Participatory notes (PNs) are associated with which of the following ?
    (1) FII
    (2) Consolidated Fund of India
    (3) Foreign Direct Investor
    (4) United National Development Programme
    (5) None of these

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    Solution :    (1)
    Participatory Notes commonly known as P-Notes or PNs are instruments issued by registered Foreign Institutional Investors (FIIs) to overseas investors, who wish to invest in the Indian stock markets without registering themselves with the market regulator, the Securities and Exchange Board of India – SEBI.
  12. Interest on savings bank account is now calculated by banks on :
    (1) Monthly Friday
    (2) Every Friday
    (3) Daily basis
    (4) Yearly basis
    (5) None of these

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    Solution :
    (3)
    National Electronic Funds Transfer (NEFT) is a nation-wide payment system facilitating one-to-one funds transfer. Under this Scheme, individuals can electronically transfer funds from any bank branch to any individual having an account with any other bank branch in the country participating in the Scheme.
  13. NEFT means :
    (1) Non Effective Fund Transfer System
    (2) Negotiated Efficient Fund Transfer System
    (3) National Efficient Transfer System
    (4) National Electronic Transfer System
    (5) None of these

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    Solution :    (4)
    Long term deposits-A deposit held at a financial institution that has a fixed term. These are generally short-term with maturities ranging anywhere from a month to a few years.
  14. An industrial bank deposit from the public :
    (1) long term deposits
    (2) Sort term deposits
    (3) only call deposits
    (4) medium term deposits
    (5) None of these

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    Solution :    (1)
    SBI was the first commercial bank, which launched mutual fund.An investment vehicle that is made up of a pool of funds collected from many investors for the purpose of investing in securities such as stocks, bonds, money market instruments and similar assets.
  15. Which of the following was the first commercial bank which had launched a mutual fund ?
    (1) Indian Bank
    (2) Canara Bank
    (3) Central Bank of India
    (4) State Bank of India
    (5) None of these

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    Solution :    (4)
    SBI was the first commercial bank, which launched mutual fund.An investment vehicle that is made up of a pool of funds collected from many investors for the purpose of investing in securities such as stocks, bonds, money market instruments and similar assets.
  16. Which of the following is a capital market instrument ?
    (1) Commercial papers
    (2) Certificate of deposits
    (3) Treasury bills
    (4) All of these
    (5) None of these

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    Solution :    (5)
    Capital market instruments are :
    (i) Debt Instruments
    (ii) Equities
    (iii) Preference Shares
    (iv) Derivatives
  17. Which of the following is a new private sector bank in India ?.
    (1) Tamilnadu Mercantile Bank Limited
    (2) IndusInd Bank Limited
    (3) South Indian Bank
    (4) Lakshmi Villas Bank
    (5) None of these

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    Solution :
    (2)
  18. The National Housing Bank was set-up in India as a wholly-owned subsidiary of which one of the following ?
    (1) LIC
    (2) GIC
    (3) NABARD
    (4) Government
    (5) RBI

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    Solution :    (5)
  19. Which of the following is the first universal bank established in India ?
    (1) IDBI Bank Limited
    (2) Reserve Bank of India
    (3) ICICI Bank Limited
    (4) HDFC
    (5) None of these

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    Solution :    (3)
  20. Minimum time for a FD is :
    (1) 7 days
    (2) 10 days
    (3) 20 day
    (4) 1 month
    (5) None of these

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    Solution :    (1) A fixed deposit (FD) is a financial instrument provided by banks which provides investors with a higher rate of interest than a regular savings account, until the given maturity date. It may or may not require the creation of a separate account.

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