Set 7 - Banking General Awareness Quiz for SBI IBPS Bank PO/Clerk


  1. Padmanabham Committee is related to :
    (1) Banking Supervision
    (2) Banking Sector Reforms
    (3) Market Risk
    (4) Financial Inclusion
    (5) None of the above

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    Solution :  (2)  Padmanabham Committee is related to banking sector reforms.
  2. ICWF stands for :
    (1) India Community .Welfare Fund
    (2) India Cash Welfare Fund
    (3) International Community Welfare Fund
    (4) Indian Community Welfare Fund
    (5) None of the above

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    Solution :   (4)  ICWF — Indian Community Welfare Fund. Ministry of Overseas Indian Affairs has established the Indian Community Welfare Fund (ICWF) in the 43 Indian Missions across the world in countries that have a significant overseas Indian population.
  3. Name the Indian secure messaging standard similar to SWIFT developed to serve as a platform for intra-bank and interbank applications ?
    (1) Structured Financial Messaging System (SFMS)
    (2) Security Settlement Messaging System (SSMS)
    (3) Interactive Financial Messaging Exchange (IFME)
    (4) Security Financial Messaging System (SFMS)
    (5) None of the above

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    Solution :   (1)  SFMS — Structured Financial Messaging System. Structured Financial Messaging System (SFMS) is a secure messaging standard developed to serve as a platform for intra-bank and inter-bank applications. It is an Indian standard similar to SWIFT (Society for World-wide Interbank Financial Telecommunications) which is the international messaging system used for financial messaging globally.
  4. Which of the following started Indian Financial Network (INFINET) with VSATs in major Indian cities ?
    (1) RBI
    (2) NABARD
    (3) IDRBT
    (4) SBI
    (5) None of these

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    Solution :   (3)  Institute for Development and Research in Banking Technology started Indian Financial Network (INFINET).
  5. Which country's currency is Lev ?
    (1) Bulgaria
    (2) Brazil
    (3) Azerbaijan
    (4) Costa Rica
    (5) None of these

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    Solution :   (1) Country Currency
    Bulgaria — Lev
    Brazil — Real
    Azerbaijan — Manat Costa Rica — Colons
  6. Which of the following is not an NBFC in India ?
    (1) Ratnashri Portfolio Private Limited
    (2) OSM Finlease Private Limited
    (3) Arohan Financial Services Limited
    (4) AMS Capital and Finance Private Limited
    (5) None of the above

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    Solution :  (3)  Arohan Financial Services Limited is a microfinance institution in India.
  7. Which of the following is a type of NBFC registered with RBI ?
    (1) Equipment Leasing Company
    (2) Hire-purchase Company
    (3) Loan Company
    (4) Investment Company
    (5) None of the above

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    Solution :   (5)  NBFC registered with RBI
    (i) Equipment leasing company
    (ii) Hire - purchase company
    (iii) Loan company
    (iv) Investment company A Non-Banking Financial Company (NBFC) is a company:
    (a) registered under the Companies Act, 1956,
    (b) its principal business is lending, investments in various types of shares /stocks/bonds/debentures /securities, leasing, hire- purchase, insurance
    business, chit business, and
    (c) its principal business is receiving deposits
  8. Which of the following is a risk posed by the post dated cheques to the paying banks ?
    (i) Drawer can stop the payment before the given date
    (ii) There may be death insolvency or insanity of the drawer
    (iii) A garnishee order may be served in respect of the balance in the account
    (1) All (i),(ii) and (iii)
    (2) Both (i) and (ii)
    (3) Only (ii)
    (4) Only (iii)
    (5) Both (ii) and (iii)

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    Solution :  (1 )
  9. As per the recent RBI directions, which facility has been immobilized so as to stop the sucking back of cash by the bank ATMs after a stipulated time ?
    (1) Cash Traction Facility
    (2) Cash Retraction Facility
    (3) Cash Sucking Facility
    (4) Cash Resucking Facility
    (5) None of the above

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    Solution :  (2) RBI has asked all banks to immobilize the "Cash Retraction Facility".
  10. Which is the main feature of BASEL III ?
    (1) Better Capital Quality
    (2) Capital Conservation Buffer
    (3) Leverage Ratio
    (4) Liquidity Ratio
    (5) All of the above

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    Solution :  (5) "Basel III" is a comprehensive set of reform measures, developed by the Basel Committee on Banking Supervision, to strengthen the regulation, supervision and risk management of the banking sector.
  11. When was the first Narasimham Committee on banking sector reforms set-up ?
    (1) 1900
    (2) 1990
    (3) 1991
    (4)  1998
    (5) None of these

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    Solution :  (3)
  12. Which of the following is not an indirect instrument used by RBI in the formulation and
    implementation of monetary policy ?
    (1) Liquidity Adjustment Facility (LAF)
    (2) Refinance Facilities
    (3) Open Market Operations (OMO)
    (4) Repo/Reverse Repo Rate
    (5) None of the above

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    Solution :  (2) "Basel III" is a comprehensive set of reform measures, developed by the Basel Committee on Banking Supervision, to strengthen the regulation, supervision and risk management of the banking sector. regulations, borrower's credit worthiness, and credit rating of a nation. In many industrialized nations, a common form of refinancing is for a place of primary residency mortgage.
  13. Which of the following is the Regulator and Supervisor of the payment and settlement systems in India ?
    (1) SBI
    (2) RBI
    (3) SEBI
    (4) Finance Ministry
    (5) None of the above

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    Solution :   (2)  RBI — Reserve Bank of India is the regulator and supervisor of the payment and settlement systems in India.
  14. Repo and Reverse Repo rate comes under the :
    (1) Marginal Standing Facility (MSF)
    (2) Refinance Facilities
    (3) Statutory Liquidity Ratio (SLR)
    (4) Liquidity Adjustment Facility (LAF)
    (5) None of the above

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    Solution : (4)  LAF is used to aid banks in adjusting the day to day mismatches in liquidity. LAF consists of repo and reverse repo operations. Repo or repurchase option is a collaterised lending i.e. banks borrow money from Reserve bank of India to meet Short term needs by selling securities to RBI with an agreement to repurchase the same at predetermined rate and date.
  15. What is the main work of public 20. sector undertaking of Indian Government called Security Printing & Mining Corporation of India Limited (SPMCIL) ?
    (1) It prints the security papers of Government of India
    (2) It prints the Indian Bank Notes for Reserve Bank of India
    (3) It prints the details of the import and export of the country
    (4) It prints the security papers of Indian Army
    (5) None of the above

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    Solution :  (2)  Security Printing and Minting Corporation of India Limited (SPMCIL) is an Indian government-owned corporation that engages in the production of bank notes, coins, non—judicial stamps, postage stamps, and other government related documents for India. The company was formed in 2006 as the result of corporatisation of security presses and mints functioning under the Indian Ministry of Finance.
  16. Which of the following is not insured by Deposit Insurance and Credit Guarantee Corporation (DICGC) with eligible banks ?
    (1) Deposits of Central/State Governments
    (2) Recurring Deposits
    (3) Inter-bank Deposits
    (4) Deposits of Foreign Governments
    (5) None of the above

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    Solution :  (2)  Recurring deposits are insured by the DICGC with eligible banks. 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. DICGC insures all bank deposits, such as saving, fixed, current, recurring deposits for up to the limit of Z 100,000 of each deposits in a bank
  17.  Which of the following statement(s) Ware not true about bill of exchange ?
    (i) It is signed by the maker
    (ii) Directs a certain person to pay certain sum of money to bank
    (iii) Directs a certain person to pay certain sum of money to certain person of the bearer
    (1) Only (ii)
    (2) Both (i) and (ii)
    (3) Both (i) and (iii)
    (4) Only (iii)
    (5) Only (i)

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    Solution :  (1) ; A bill of exchange is signed by the maker and directs a certain person to pay certain sum of money to certain person or the bearer.
  18. Which among the following is/are a 'money market instrument'?
    (1) Treasujy Bills
    (2) Commercial paper
    (3) Certificate of deposits
    (4) Both (1) and (2)
    (5) None of the above

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    Solution :  (5) ; Treasury Bills, commercial paper and certificate of deposits all are money market instrument.
  19. The portfolio investment is financial investment by ................in stock.
    (1) Private individuals
    (2) Corporations pension funds
    (3) Mutual funds
    (4) Both 2 and 3
    (5) All 1 , 2 and 3

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    Solution :   (5) ; The portfolio investment is financial investment by private individuals.
  20. Treasury bill is a short term debt issued by a national government with a maximum maturity of :
    (1) Six, months
    (2) One year
    (3) Two years
    (4) Three years
    (5) None of these

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    Solution :  (2) ; Minimum - 91 days
    Maximum - 365 days or 1 year T-bills are short-term
    securities that mature ii one year or less from their issue date. They are issued with three-month, six-month and one-year maturities. T-bills are purchased for a price that is less than their par (face) value; when they mature, the government pays the holder the full par value.


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