Set 23 – Banking General Awareness Quiz for SBI IBPS Bank PO/Clerk

0
  1. At present for the ATMs in India, the most commonly used network communication mode is :
    (1) Very Small ApertureTerminal (VSAT)
    (2) General Packet Ratio Service (GPRS)
    (3) Code Division MultipleAccess (CDMA)
    (4) Dial in Connection
    (5) None of these

    Show Answer


    Solution :  (1) Presently, the most commonly used network communication mode for ATMs in India is v-sAT. VSAT (Very Small Aperture Terminal) is a satellite communications system that serves home and business users. A VSAT end user needs a box that interfaces between the user’s computer and an outside antenna with a transceiver. The transceiver receives or sends a signal to a satellite transponder in the sky.
  2. Which of the following is a form of “Small Savings Bank” popular among the poor or children ?
    (1) Core banking
    (2) Credit banking
    (3) Debit barking
    (4) Merchant banking
    (5) Piggy banking

    Show Answer


    Solution :  (5) Piggy banking is a form of “small saving bank” popular among the poor or children.
  3. Which of the following describes the term ‘legal tender’ ?
    (1) Any object legally used as money in a country
    (2) Money which cannot be legally refused in discharge of debt
    (3) Bank notes where they are in legal circulations
    (4) Notes or coins other than counterfeited ones
    (5) None of these

    Show Answer


    Solution :    (2) Legal tender means a currency that cannot be legally refused in discharge of debt.
  4. Inflation tends to his most
    (1) The speculators
    (2) The fined wage earners
    (3) The shareholders of companies
    (4) All of the above
    (5) None of the above

    Show Answer


    Solution :    (4)  In economics, inflation is a sustained increase in the general price level of goods and services in an economy over a period of time.
  5. Which of the following measures can check inflation ?
    (1) Surplus budgeting
    (2) Increase in direct taxation
    (3) Curtailment in public expenditure
    (4) All of the above
    (5) None of the above

    Show Answer


    Solution :    (4)
  6. In case demand draft is issued, the liability of the bank will be :
    (1) Demand liability
    (2) Time liability
    (3) Current liability
    (4) Long term liability
    (5) None of these

    Show Answer


    Solution :    (1) When a demand draft is issued, the liability of the bank will be demand liability. Demand liabilities are the liabilities which must be paid on demand.
  7. “Doha Development Round” is related with which of the following organizations ?
    (1) World Bank
    (2) World Trade Organization
    (3) International Monetary Fund
    (4) Asian Development Bank
    (5) None of these

    Show Answer


    Solution :    (2) The Doha Development Round or Doha Development Agenda (DDA) is the current trade-negotiation round of the World Trade Organization (WTQ) which commenced in November 2001 under then director-general Mike Moore. Its objective is to lower trade barriers around the world, and thus facilitate increased global trade.
  8. The – tagline “Where Every Individual is Committed” is associated with which of the following banks ?
    (1) Punjab National. Bank
    (2) Oriental Bank of Commerce
    (3) Indian Overseas Bank
    (4) Syndicate Bank
    (5) Canara Bank

    Show Answer


    Solution :    (2)
  9. Which of the following conducts supervision over commercial banks, financial institutions, NBFCs and other Para-banking financial institutions in India ?
    (1) SEBI
    (2) Ministry of Finance
    (3) Board for FinancialSupervision, RBI
    (4) Ministry of Corporate Affairs
    (5) None of these

    Show Answer


    Solution :   (3)  Board for Financial Supervision, RBI conducts supervision over commercial banks, financial institution, NBFCs and other Para-banking financial institutions in India.
  10. Which of the following is the safest form of crossing ?
    (1) Double crossing
    (2) General crossing
    (3) Special crossing
    (4) Account payee crossing
    (5) None of these

    Show Answer


    Solution :    (4)  A crossed cheque is a cheque that is payable only through a collecting banker and not directly at the counter of the bank. Crossing ensures security to the holder of the cheque as only the collecting banker credits the proceeds to the account of the payee of the cheque.
  11. A cheque which is issued today must be presented before at bank for payment with in a stipulated period , after expiry of that period no payment will be made and it is then called :
    (1) Mutilated cheque
    (2) Stale cheque
    (3) Crossed cheque
    (4) Open cheque
    (5) None of these

    Show Answer


    Solution :  (2) A cheque which a bank will not accept and exchange for money or payment because it was written more than a certain number of months ago.
  12. Expand NMCEX :
    (1) New Multi Capital Exchange
    (2) National Medium Commodity Exchange
    (3) National Multi Commodity Exchange
    (4) Net Marketable Commodity Exchange
    (5) None of these

    Show Answer


    Solution :   (3) ; National Multi Commodity Exchange of India Limited was the first such exchange to be granted permanent recognition by the government.
  13. Which of the following is not a measure of price change ?
    (1) Inflation
    (2) Purchasing Power Parity
    (3) GDF Deflator
    (4) Deflation
    (5) Hyperinflation

    Show Answer


    Solution :  (2) Purchasing Power Parity (PPP)-An economic theory that estimates the amount of adjustment needed on the exchange rate between countries in order for the exchange to be equivalent to each currency’s purchasing power.

  14. Which statement correctly describes ‘Bridge financing’ ?
    (1) Finance provided to bridge the gap between poor and the rich
    (2) Bridge financing begins at the end of the first loan and ends with the start of the second loan
    (3) Bridge financing ends at the start of the first loan and starts with the end of the second loan
    (4) Finance provided the bridge gap between rural and the urban people
    (5) Bridge financing is provided to fill the social gaps

    Show Answer


    Solution :    (2) Bridge financing also known as gap financing. A bridge loan is a type of short-term loan, typically taken out for a period of 2 weeks to 3 years pending the arrangement of larger or longer-term financing. It is usually called a bridging loan in the United Kingdom, also known as a “Caveat loan,” and also known in some applications as a swing loan.
  15. Under which among the following acts, Hawala transactions are banned in India ?
    (1) FERA
    (2) FEMA
    (3) FRBMA
    (4) AFSPA
    (5) None of these

    Show Answer


    Solution :    (2) 1FEMA-Foreign Exchange Management Act, under this act, Hawala transactions are banned in India FEMA Act, 1999.In the most basic variant of the Hawala system, money is transferred via a network of hawala brokers, or hawaladars. It is the transfer of money without actually moving it. In fact, a successful definition of the Hawala system that is used is “money transfer without money movement”.
  16. ADF stands for :
    (1) Automated Date Flow
    (2) Automatic Document Feeder
    (3) Automatically DefinedFunction
    (4) Automatic Direction Finder
    (5) None of these

    Show Answer


    Solution :    (1) ADF seeks to ensure submission of correct and consistent date from the banks straight from their systems to RBI without any manual intervention.
  17. An EEFC account can be held only in the form of :
    (1) Saving account
    (2) Current account
    (3) Fixed deposit account
    (4) Nastro account
    (5) None of these

    Show Answer


    Solution :    (2) An EEFC account can be held only in the form of current account. No interest is payable on EEFC account.
    Exchange Earners’ Foreign Currency Account (EEFC) is an account maintained in foreign currency with an Authorised Dealer, i.e., a bank dealing in foreign exchange.
  18. Which of the following are not insured by the Deposit Insurance and Credit GuaranteeCorporation (DICGC) ?
    (1) Commercial banks
    (2) Local area banks
    (3) Regional rural banks
    (4) Primary co-operative societies
    (5) None of these

    Show Answer


    Solution :    (4) 1In the event of a bank failure DICGC protects bank deposits that are payable in India. Deposit Insurance and Credit Guarantee Corporation (DICGC) is a subsidiary of Reserve Bank of India. It was established on July 15, 1978 under Deposit Insurance and Credit Guarantee Corporation Act, 1961 for the purpose of providing insurance, of deposits and guaranteeing of credit facilities.
  19. Commercial paper was introduced in India in :
    (1) 1995
    (2) 1992
    (3) 1990
    (4) 1991
    (5) None of these

    Show Answer


    Solution :    (3) Commercial paper is a money-market security issued (sold) by large corporations to obtain funds to meet short-term debt obligations and is backed only by an issuing bank or corporation’s promise to pay the face amount on the maturity date specified on the note.
  20. If a customer does not get satisfactory response from the bank regarding his/her complaint to banking ombudsman within how many days/months?
    (1) 15 days
    (2) 10 days
    (3) 1 month
    (4) 2 months
    (5) None of these

    Show Answer


    Solution :    (3)  Banking Ombudsman is a quasi judicial authority functioning under India’s Banking Ombudsman Scheme, and the authority was created pursuant to the decision by the Government of India to enable resolution of complaints of customers of.banks relating to certain services rendered by the banks.

Leave A Reply

Your email address will not be published.

IBPS Clerk 2017 Video Lecturesx