Set 6 – Banking General Awareness Quiz for SBI IBPS Bank PO/Clerk

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  1. Which of the following is a form of plastic money ?
    (1) Ten rupees note
    (2) Coins
    (3) ATM cards
    (4) All of the above
    (5) None of the above

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    Solution : 3
    (3) ; Plastic money means plastic cards like credit card, debit card, ATM card. Plastic money is a term that is used predominantly’ in reference to the hard plastic cards we use everyday in place of actual bank notes. They can come in many different forms such as cash cards, credit cards, debit cards, pre-paid cash cards and store cards.
  2.  Which of the following taxes is levied and collected by Union but distributed between Union and State Government ?
    (1) Corporation tax
    (2) Tax on income other than agriculture income
    (3) Tax on revenue
    (4) Custom duty
    (5) None of these

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    Solution : 2

  3. Which of the following are known as negotiable instruments ?
    (1) Cheques
    (2) Bill of Exchange
    (3) Promissory notes
    (4) All of the above
    (5) None of the above

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    Solution : 4
    (4) ; Cheques, bill of exchange , promissory notes all are negotiable instruments. 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.
  4. Which of the following ACT is useful in foreign exchange market ?
    (1) FERA
    (2) BR ACT 1949
    (3) FEMA
    (4) Negotiable Instrument Act ,1881
    (5) None of these

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    Solution : 3
    (3) ; FEMA—Foreign Exchange Management Act. The Foreign Exchadge Management Act, 1999 (FEMA) is an Act of the Parliament of India to consolidate and amend the law relating to foreign exchange with the objective of facilitating external trade and payments and for promoting the orderly development and maintenance of foreign exchange market in India.
  5. Short term means :
    (1) One year or less than one year
    (2) More than one year
    (3) 5 years
    (4) All above comes in short term
    (5) None of these

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    Solution : 1
    (1) ; A loan given for short term means one year or for less than one year.
  6. CRR is in the form of :
    (1) gold
    (2) government securities
    (3) cash
    (4) cash and gold
    (5) None of these

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    Solution : 3
    (3) ; CRR is only in •the form of cash. It is not refundable.
  7. When was the second nationalization of banks was done ?
    (1) 1975
    (2) 1980
    (3)4990
    (4) 1988
    (5) None of these

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    Solution : 2
    (2) ; First Nationalization — 1969
    Second Nationalization — 1980
  8. The head office of Union Bank of India is situated in :
    (1) Mumbai
    (2) Bangaluru
    (3) Delhi
    (4) Indore
    (5) None of these

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    Solution : 1
  9. How many Governor(s) is/are there in RBI ?
    (1) 5
    (2) 4
    (3) 3
    (4) 1
    (5) None of these

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    Solution : 4
    (4) ; There are one Governor and four Deputy Governors in RBI.
  10. The category of scheduled banks include :
    (1) Commercial banks
    (2) State co-operative banks
    (3) Regional Rural Banks
    (4) Both (1) and (3)
    (5) All (1), (2) and (3)

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    Solution :  5
  11. MSF stands for :
    (1) Medium Small Factory
    (2) Marginal Standing Facility
    (3) Most Secured Foreign Bank
    (4) Micro Small Finance
    (5) None of these

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    Solution : 2
    (2) MSF — Marginal Standing Facility
    It came in effect in 2009.MSF rate is the rate at which b6nks borrow funds overnight from the Reserve Bank of India (RBI) against approved government securities. This came into effect in May, 2011.
  12. The headquarters of WHO is situated in :
    (1) Geneva
    (2) Washington
    (3) South Africa
    (4) Germany
    (5) None of these

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    Solution : 1
    (1) Headquarters of WHO is situated in Geneva, Switzerland.
  13. White Revolution is related to :
    (1) Mango
    (2) Fisheries
    (3) Milk
    (4) Almonds
    (5) None of these

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    Solution : 3
  14. Commercial loans availed from non-resident lenders with minimum average maturity of 3 years are :
    (1) Demand Loss
    (2) External commercial borrowings
    (3) FCCB
    (4) Term Loan
    (5) None of these.

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    Solution : 2
    (2) ECB — External Commercial Borrowings
  15. Gilt-edged market is related to :
    (1) Foreign market
    (2) Loan
    (3) Government Securities
    (4) Coins
    (5) None of these

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    Solution : 3
    (3) Gilt—edged market is related to government and semi—government securities.
  16. ECR stands for :
    (1) External Commercial Rate
    (2) Export Credit Refinance
    (3) Earning to Commerce Ratio
    (4) Extra Credit Refinance
    (5) None of these

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    Solution : 2
    (2) ECR—Export Credit Refinance
  17. IFS code consists of :
    (1) 9 digits
    (2) 10 digits
    (3) 7 digits
    (4) 11 digits
    (5.) None of these

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    Solution : 4
    (4) IFS code consists of eleven digits, while MICR is a 9 digit number.
  18. Which of the following is the name of highest authority in India for indirect taxes ?
    (1) CCEA
    (2) CBEC
    (3) CBSE
    (4) CBDT
    (5) None of these

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    Solution : 2
    (2) CBEC is the highest authority for indirect tax, while CBDT is the highest authority for direct tax.
  19. CTS stands for :
    (1) Credit Tax System
    (2) Cheque Truncation System
    (3) Cash Transfer System
    (4) Cash Transfer Software
    (5) None of these

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    Solution : 2
    (2) CTS stands for Cheque Truncation System.
  20. The minimum amount that Fan be transferred through RTGS system is :
    (1) 5 lakh
    (2) 15 lakh
    (3) 2 lakh
    (4) 3 lakh
    (5) None of these

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    Solution : 3
    (3) 2 lakh is the minimum amount that can be transferred through RTGS , while there is no upper limit

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1 Comment

  1. saidul Alom laskar says

    excellent sir

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