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Banking & Financial Awareness Previous Papers for IBPS SBI RRB RBI NABARD Cooperatives & Insurance Exams

Lesson 1 Banking Functions (Banking & Financial Awareness Previous Papers)

Q1. Which of the following terms/names is not associated with banking/financial trade in India ? [SBI PO 2010]
[1] Automated Clearing House
[2] Provision Coverage Ratio
[3] Market Stabilisation Scheme
[4] Credit Default Swaps
[5] Double Fault
Ans: [5]



Q2. Some banks which were not able to meet their priority sector lending targets are now allowed to do so by purchasing Priority Sector Lending Certificates [PSLC]. Which of the following agencies/organisation is/are authorized to issue this certificates ? [SBI PO 2010]
[A] Micro Finance Institutions
[B] Non Banking Finance Companies
[C] NABARD
[1] Only [A] [2] Only [B]
[3] Only [A] and [B] [4] Only [A], [B] and [C]
[5] None of these
Ans: [2]



Q3. Value added services means _______. [SBI PO 2010]
[1] costlier products [2] large number of products
[3] additional services [4] at par services
[5] None of these
Ans: [3]



Q4. The performance of a sales person depends on _____. [SBI PO 2010]
[1] salary paid
[2] sales incentives paid
[3] size of the sales team
[4] ability and willingness of the sales person
[5] team leader’s aggressiveness
Ans: [4]



Q5. A major Public Sector Bank raised interest rates on loans by 25 basis points – was news in some major financial newspapers recently. This means the bank has raised interest by 25 basis points of [SBI PO 2011]
[1] Savings Bank Interest Rate
[2] Base Lending Rate
[3] Repo Rates
[4] Present Rates on Deposits
[5] Discounted Rates of Interest
Ans: [2]



Q6. Banks and other financial institutions in India are required to maintain a certain amount of liquid assets like cash, precious metals and other short-term securities as a reserve all the time. In Banking World this is known as [SBI PO 2011]
[1] CRR [2] Fixed Asset
[3] SLR [4] PLR
[5] None of these
Ans: [3]



Q7. Which of the following statement is true? [IBPS PO/MT 2011]
[1] Banks cannot accept demand and time deposite from public.
[2] Banks can accept only demand deposits from public.
[3] Banks can accept only time deposits from public.
[4] Banks can accept both demand and time deposits from public.
[5] Banks can accept demand and time deposits only from government.
Ans: [4]



Q8. Accounts are allowed to be operated by cheques in respect of [IBPS PO/MT 2011]
[1] Both Savings bank accounts and fixed deposit accounts
[2] Savings bank accounts and current accounts
[3] Both Savings bank accounts and loan accounts
[4] Both Savings bank accounts and cash accounts only
[5] Both Current accounts and fixed deposit accounts
Ans: [2]



Q9. Which of the following is correct statement? [IBPS PO/MT 2011]
[1] Normally no interest is paid on current deposit accounts
[2] Interest is paid on current accounts at the same rate as term deposit accounts
[3] The rate of interest on current account and savings account are the same
[4] No interest is paid on any deposit by the bank
[5] Savings deposits are the same as current deposits.
Ans: [1]



Q10. When a bank returns a cheque unpaid. It is called [IBPS PO/MT 2011]
[1] payment of the cheque
[2] drawing of the cheque
[3] cancelling of the cheque
[4] dishonour of the cheque
[5] taking of the cheque.
Ans: [4]



Q11. Distribution of Insurance products and Insurance policies by banks as corporate agents is known as [IBPS PO/MT 2011]
[1] General Insurance [2] Non-life Insurance
[3] Bancassurance [4] Insurance banking
[5] Deposit Insurance
Ans: [3]



Q12. In which of the following fund transfer mechanisms, can funds be moved from one bank to another and where the transaction is settled instantly without being bunched with any other transaction ? [IBPS PO/MT 2012]
[1] RTGS [2] NEFT
[3] TT [4] EFT
[5] MT
Ans: [1]



Q13. By increasing repo rate, the economy may observe the following effects __________. [IBPS PO/MT 2012]
[1] Rate of interest on loans and advances will be costlier
[2] Industrial output would be affected to an extent
[3] Banks will increase rate of interest on deposits
[4] Industry houses may borrow money from foreign countries
[5] All of these
Ans: [3]



Q14. Mr. Rajendra had filed a complaint with Banking Ombudsman but is not satisfied with the decision. What is the next option before him for getting his matter resolved ? [IBPS PO/MT 2012]
[1] Write to the CMD of the Bank.
[2] File an appeal before the Finance Minister.
[3] File an appeal before the Banking Ombudsman again.
[4] File an appeal before the Dy. Governor RBI.
[5] Simply close the matter as going to court involves time and money.
Ans: [4]



Q15. Invisible Export means export of _____. [SBI PO 2013]
[1] Services
[2] Prohibited goods
[3] Restricted goods
[4] Goods as per OGL list
[5] Other than those given as options.
Ans: [1]



Q16. Banks in India are required to maintain a portion of their demand and time liabilities with the Reserve Bank of India. This portion is called _______. [SBI PO 2013]
[1] Statutory Liquidity Ratio
[2] Cash Reserve Ratio
[3] Bank Deposit
[4] Reserve Repo
[5] Government Securities
Ans: [2]



Q17. Interest on Savings deposit nowadays is _____________. [SBI PO 2013]
[1] Fixed by RBI
[2] Fixed by the respective Banks
[3] Fixed by the Depositors
[4] Fixed as per the contract between Bank and the Consumer Court
[5] Not paid by the Bank
Ans: [2]



Q18. Value added services means _____.[IBPS PO/MT 2013]
[1] Low Cost products
[2] High cost products
[3] At par services
[4] Additional services for the same cost
[5] Giving discounts
Ans: [4]



Q19. A bank without any branch network that offers its services remotely through online banking, telephone/mobile banking and interbank ATM network alliances is known as [IBPS PO/MT 2013]
[1] Universal Banking [2] Indirect Bank
[3] Door Step Bank [4] A Direct Bank
[5] Unit Banking
Ans: [4]



Q20. The Aadhar-enabled Payment System [AEPS] is a bank-led model that facilitates banking facilities through banking correspondents across banks. However, Aadhaar- enabled basic types of banking transactions do ‘not’ include [IBPS PO/MT 2013]
[1] Aadhaar to Aadhaar funds transfer
[2] Small overdraft facility
[3] Cash withdrawal
[4] Balance enquiry
[5] Cash deposit
Ans: [2]



Q21. The Bank should comply and intimate the compliance of Award to Ombudsman? [IBPS PO/MT 2014]
[1] Within Two Months
[2] Within 3 months
[3] Within one month
[4] Within one year
[5] None of these
Ans: [3]



Q22. How does every bank pay interest on savings? [SBI PO 2014]
[1] Daily [2] Weekly
[3] Fortnightly [4] Monthly
[5] Quarterly
Ans: [1]



Q23. Which aspect of a project/ business is/are evaluated in a SWOT Analysis? [SBI PO 2014]
[1] Strengths [2] Weaknesses
[3] Opportunities [4] Threats
[5] All of these
Ans: [5]



Q24. Which of the following is/are NOT the functions of a bank?
[A] Accepting deposits from the public
[B] Grant of loans and advances
[C] Providing finance to all those who cannot earn enough to survive [SBI Clerk 2011]
[1] Only [A] [2] Only [B]
[3] Only [C] [4] All [A], [B] & [C]
[5] Only [B] & [C]
Ans: [3]



Q25. A bank branch receives a counterfeit note of `100 from the customer, which customer wants it back. Which of the following action should be taken by the Bank? [IBPS Clerk 2011]
[1] Will return to customer
[2] Will impound and not return
[3] Will ask for exchange of note
[4] Will replace with genuine note
[5] Will check all the notes in possession with the customer which are not being deposited also
Ans: [2]



Q26. NEFT and RTGS in banking terminology speak of [IBPS Clerk 2011]
[1] various deposit products
[2] various loan products
[3] electronic payment products within a bank
[4] electronic fund transfer from bank to bank
[5] Cheque Truncation Process
Ans: [4]



Q27. When a customer draws a cheque on a bank [IBPS Clerk 2011]
[1] it is a mandate on that bank to pay.
[2] it is a mandate on the Government of India to pay.
[3] it is a mandate on the State Government to pay.
[4] it is a mandate on the RBI to pay.
[5] it is a mandate on the Finance Ministry to pay.
Ans: [1]



Q28. Ram has been nominated in the Savings account of Sita Ram requests the bank authorities to allow him to operate Sita’s account as she is unwell. What will the bank do? [IBPS Clerk 2011]
[1] Bank will allow Ram to operate the account as he is the nominee.
[2] As nomination will come into effect only after death of the depositor, Bank will not allow.
[3] As Ram is, the husband of Sita in addition to being the nominee, the Bank should allow.
[4] Out of pity for Sita and on account of long term relationship. the Bank may allow.
[5] Bank can take a promissory note from Ram and allow him to operate the account.
Ans: [2]



Q29. Which of the following is ‘material alteration’ of a negotiable instrument? [IBPS Clerk 2011]
[1] Converting an order cheque to bearer cheque
[2] Converting a bearer cheque to order cheque
[3] Crossing of an uncrossed cheque
[4] Writing an amount on a blank cheque
[5] Putting a signature on the back of a cheque
Ans: [1]



Q30. Crossing on a cheque can be cancelled by the ____ of the cheque under his full signature. [IBPS Clerk 2011]
[1] payee [2] drawee
[3] endorser [4] holder
[5] drawer
Ans: [2]



Q31. A customer drawing a cheque on a bank has a right to [IBPS Clerk 2011]
[1] Take back the cheque from the bank after it is paid
[2] Take back the cheque from the bank after it is paid with the permission of RBI
[3] Stop payment of the cheque before it is paid
[4] Stop payment of the cheque after it is paid
[5] Stop payment of the cheque before it is issued
Ans: [3]



Q32. Which of the following is not a primary function of a Bank? [IBPS Clerk 2011]
[1] Granting Loans
[2] Collecting Cheques/Drafts of customers
[3] Facilitating import of goods
[4] Issuing Bank Drafts
[5] Selling Gold/Silver Coins
Ans: [3]



Q33. An engineer working in a big city in India wishes to send some money to his/her parents in a small village. How can a bank help him/her ? [Both of them have accounts in the branches of the same bank.] [IBPS Clerk 2012]
A. By issuing a Demand Draft.
B. By opening a letter of credit in the name of his/her parents.
C. Through E-transfer of money
[1] Only A [2] Only B
[3] Only C [4] Both A and B
[5] Both A and C
Ans: [5]



Q34. People normally go to a bank for withdrawal or/and depositing their money. In addition to that banks provide many other services these days. Which of the following is/ are such new services ? [IBPS Clerk 2012]
A. Sale of insurance policies.
B. Loans for higher studies for children.
C. Acceptance of bills for Telephone/Electric supply services on behalf of such organizations.
[1] Only A [2] Only B
[3] Only C [4] Both A and B
[5] All A, B and C
Ans: [5]



Q35. Which of the following terms is not related with the banking operations ? [IBPS Clerk 2012]
[1] Current Account [2] Exchange rate
[3] Investment rate [4] Domestic Saving rate
[5] Veto Power
Ans: [5]



Q36. Which of the following services relate to execution of transactions directly with consumers, rather than corporations or other banks? [IBPS Clerk 2013]
[1] Wholesale Banking Services
[2] Industrial Banking Services
[3] Investment Banking Services
[4] Corporate Banking Services
[5] Retail Banking Services
Ans: [5]



Q37. The arrangement under which banks sell insurance products acting as the agents of the respective companies is called the [IBPS Clerk 2013]
[1] Insurance joint venture
[2] Bancassurance Model
[3] Hybrid Insurance Model
[4] Insurance Broking
[5] Integrated Model
Ans: [2]



Q38. An engineer working in a big city in India wishes to send some money to his/her parents in a small village. How can a bank help him/her ? [Both of them have accounts in the branches of the same bank.] [SBI Clerk 2014]
A. By issuing a Demand Draft.
B. By opening a letter of credit in the name of his/her parents.
C. Through E-transfer of money
[1] Only A [2] Only B
[3] Only C [4] Both A and B
[5] Both A and C
Ans: [5]



Q39. A customer drawing a cheque on a bank has a right to [IBPS Clerk 2013]
[1] Take back the cheque from the bank after it is paid
[2] Take back the cheque from the bank after it is paid with the permission of RBI
[3] Stop payment of the cheque before it is paid
[4] Stop payment of the cheque after it is paid
[5] Stop payment of the cheque before it is issued
Ans: [3]



Q40. Some major banks and financial institutions in various Western countries were to wind up their business and/or declare themselves in financial problems during last few years. This trend is technically known as [SBI Clerk 2011]
[1] Devaluation
[2] Deformation
[3] Global Slowdown
[4] Political backdrop
[5] Globalisation
Ans: [3]



Q41. The competitive position of a company can be improved by __________. [SBI PO 2013]
[1] increasing the selling price
[2] reducing the margin
[3] ignoring competitors
[4] increasing the cost price
[5] understanding and fulfilling customers’ needs
Ans: [5]



Q42. Banks’ mandatory lending to farmers for agriculture, micro and small enterprises and other weaker sections where in banks are required to lend up to 40% of the loans is generally described as [IBPS PO/MT 2013]
[1] Para banking
[2] Sub-prime lending
[3] Retail lending
[4] Non-priority sector lending
[5] Priority sector lending
Ans: [5]



Q43. In India, which of the following have the highest share in the disbursement of credit to agriculture and allied activities? [IBPS Clerk 2011]
[1] Commercial Banks
[2] Cooperative Banks
[3] Private Sector Banks
[4] Microfinance Institutions
[5] Regional Rural Banks
Ans: [1]



Q44. As decided by the Reserve Bank of India, all the villages with a population of 2000 will have access to financial services by the end of _____ [SBI & its Associates Bank PO 2010]
[1] 2009–10 [2] 2010–11
[3] 2011–12 [4] 2012–13
[5] None of these
Ans: [3]



Q45. The government and the RBI had set a target to cover 73,000 villages having population in excess of 2000 to provide access to banking services, by March 2012. The name given to this scheme is [SBI PO 2011]
[1] Swabhimaan [2] Swavalamban
[3] Saral [4] Connecting Banks
[5] None of these
Ans: [1]



Q46. RBI appointed a committee under the chairmanship of D. Mohanty to look into [SBI PO 2011]
[1] 2G spectrum scam
[2] Implementation of Base Rate
[3] Bank’s Saving Interest rate
[4] Inflation
[5] None of these
Ans: [2]



Q47. Interest payable on saving bank accounts is [IBPS PO/MT 2011]
[1] not regulated by RBI.
[2] regulated by State Governments
[3] regulated by Central Government
[4] regulated by RBI
[5] regulated by Finance minister.
Ans: [4]



Q48. Which of the following is the correct statement? [IBPS PO/MT 2011]
[1] State bank of India is the sole authority to issue and manage currency in India.
[2] A nationalized bank is the sole authority to Issue and manage currency in India
[3] A cooperative bank is the sole authority to issue and manage currency in India.
[4] RBI is the sole authority to issue and manage currency in India.
[5] None of these
Ans: [4]



Q49. Financial inclusion means provision of [IBPS PO/MT 2011]
[1] financial services namely payments, remittances, savings, loans and Insurance at affordable cost to persons not yet given the same.
[2] ration at affordable cost to persons not yet given the same.
[3] house at affordable cost to persons not yet given the same.
[4] food at affordable cost to persons not yet given the same.
[5] education at affordable cost to persons not yet given the same.
Ans: [1]



Q50. Upper limit prescribed for RTGS transaction is [IBPS PO/MT 2011]
[1] `1 lac [2] `2 lacs
[3] `5 lacs [4] `50 lacs
[5] No upper limit is prescribed
Ans: [5]



Q51. A centralized database with on line connectivity to branches, internet as well as ATM network which has been adopted by almost all major banks of our country is known as [IBPS PO/MT 2011]
[1] Investment banking
[2] core banking
[3] mobile banking
[4] national banking
[5] specialized banking
Ans: [2]



Q52. Which of the following is NOT a function of the Reserve Bank of India ? [IBPS PO/MT 2012]
[1] Fiscal Policy Functions
[2] Exchange Control Functions
[3] Issuance, Exchange and destruction of currency notes
[4] Monetary Authority Functions
[5] Supervisory and Control Functions
Ans: [1]



Q53. What is the maximum deposit amount insured by DICGC ? [IBPS PO/MT 2012]
[1] `2,00,000 per depositor per bank
[2] `2,00,000 per depositor across all banks
[3] `1,00,000 per depositor per bank
[4] `1,00,000 per depositor across all banks
[5] None of these
Ans: [4]



Q54. With reference to a cheque which of the following is the “drawee bank” ? [IBPS PO/MT 2012]
[1] The bank that collects the cheque
[2] The payee’s bank
[3] The endorsee’s bank
[4] The endorser’s bank
[5] The bank upon which the cheque is drawn
Ans: [5]



Q55. Banks in India are required to maintain a portion of their demand and time liabilities with the Reserve Bank of India. This portion is called _____________. [SBI PO 2013]
[1] Statutory Liquidity Ratio
[2] Cash Reserve Ratio
[3] Bank Deposit
[4] Reserve Repo
[5] Government Securities
Ans: [2]



Q56. Banking Ombudsman is appointed by _____________. [IBPS PO/MT 2013]
[1] Government of India [2] State Governments
[3] RBI [4] E C G C
[5] Exim Bank
Ans: [3]



Q57. To combat the menace of money laundering, which of the following financial institutions has introduced the ‘Know Your Customer’ Scheme? [IBPS PO/MT 2014]
[1] IDBI [2] RBI
[3] NABARD [4] SIDBI
[5] None of these
Ans: [2]



Q58. Banking Ombudsman is appointed by [SBI PO 2014]
[1] Union Ministry of Finance
[2] Competition Commission of India
[3] Reserve Bank of India
[4] Indian Banks Association
[5] Securities and Exchange Board of India
Ans: [3]



Q59. What was the reason behind the decision of the Reserve Bank of India to withdraw currency notes issued before 2005? [SBI PO 2014]
[1] To replace them with plastic notes
[2] to check counterfeit notes
[3] To replace mutilated and spoilt notes
[4] To check illicit notes of Pakistan
[5] None of these
Ans: [2]



Q60. On domestic term deposits, banks in our country generally offer additional rate of interest on term deposits from — [IBPS Clerk 2011]
[1] Minors [2] Married women
[3] Govt. employees [4] Rural residents
[5] Senior citizens
Ans: [5]



Q61. When a bank dishonours a cheque it is called [IBPS Clerk 2011]
[1] settlement of the cheque.
[2] withdrawing of the cheque.
[3] nullifying of the cheque.
[4] truncating of the cheque.
[5] return of the unpaid cheque.
Ans: [3]



Q62. RBI’s policy stance to manage interest and liquidity are used to [IBPS Clerk 2011]
[1] moderate inflation and maintain economic growth
[2] moderate competition among private and public sector banks
[3] eradicate unemployment in public sector
[4] moderate currency supply in public hands
[5] moderate deposits in public sector bank
Ans: [1]



Q63. Real Time Gross Settlement or RTGS enables [IBPS Clerk 2011]
[1] immediate transfer of money from customer of one bank to customer of another bank.
[2] immediate transfer of money from customer of one branch to customer of another branch within the same bank.
[3] immediate transfer of money from customer of one country to customer of another country.
[4] immediate transfer of money from customer of one bank to customer of the RBI.
[5] None of these
Ans: [1]



Q64. Which of the following is a measure taken by the Reserve Bank of India to control inflation in our country? [IBPS Clerk 2011]
[1] Increasing the CRR
[2] Increasing the SLR
[3] Contraction of supply of currency
[4] Raising Repo / Reverse Repo Rate
[5] Decreasing the SLR
Ans: [4]



Q65. Monetary Policy as an arm of the economic policy is administered by [IBPS Clerk 2011]
[1] Government of India
[2] Reserve Bank of India
[3] State Bank of India
[4] Governments of the respective states
[5] None of these
Ans: [2]



Q66. Web based complaints redressal system ‘SCORES’ is launched by which of the following organizations/agencies? [SBI Clerk 2012]
[1] Ministry of Corporate Affairs
[2] SEBI
[3] RBI
[4] State Bank of India
[5] IBA
Ans: [2]



Q67. The Aadhar-enabled Payment System [AEPS] is a bank-led model that facilitates banking facilities through banking correspondents across banks. However, Aadhaar- enabled basic types of banking transactions do ‘not’ include [IBPS Clerk 2013]
[1] Aadhaar to Aadhaar funds transfer
[2] Small overdraft faculty
[3] Cash withdrawal
[4] Balance enquiry
[5] Cash deposit
Ans: [2]



Q68. The concept of’Micro Credit’ essentially concentrates on [IBPS Clerk 2013]
[1] consumption smoothening as and when needed
[2] providing safe place to hold savings
[3] accepting deposits
[4] provision of credit to the poor
[5] facility to transfer money
Ans: [4]



Q69. Post-sales activities include _________. [SBI PO 2013]
[1] Sales presentation
[2] Customer Feedback
[3] Customer identification
[4] Product design
Ans: [2]



Q70. A good Brand can be built up by way of ________. [SBI PO 2013]
[1] Customer grievances
[2] Break-down of IT support
[3] Old age
[4] Large number of products
[5] Consistent offering of good services
Ans: [5]



Q71. Banks cannot do which of the following businesses? [IBPS Clerk 2011]
[1] Accepting demand and time deposits from public
[2] Accepting items for keeping in safe custody
[3] Selling gold coins
[4] buying commodities for trading
[5] accepting foreign currency for selling to money changers
Ans: [4]



Q72. Which of the following is NOT a function of a commercial bank? [IBPS Clerk 2011]
[1] Providing project finance
[2] Settlement of payments on behalf of the customers
[3] Deciding policy rates like CRR, SLR and Repo Rates
[4] Issuing credit/debit ATM cards
[5] Providing services such as locker facilities. remittances
Ans: [3]



Q73. If you wish to purchase some U.S. Dollars for your travel abroad, you should approach [IBPS Clerk 2011]
[1] The Ministry of Finance
[2] The U.S. Embassy
[3] Any Bank Branch authorised to do such activity
[4] The Reserve Bank of India only
[5] External Affairs Ministry
Ans: [3]



Q74. Which of the following fund transfer mechanisms, can be moved from one bank to another and where transaction is settled instantly without being bunched with any other transaction? [IBPS PO 2015]
[1] RTGS [2] NEFT
[3] TT [4] EFT
[5] MT
Ans: [1]



Q75. ‘FLASHremit’ service to offer an instant bank transfer service to the Indians residing in the Gulf nation has been launched by which bank in association with UAE exchange? [IBPS PO 2015]
[1] HDFC bank [2] SBI
[3] Axis bank [4] ICICI bank
[5] None of these
Ans: [4]



Q76. What is the percentage of RRB sponsor bank contribution? [RBI Assistant 2015]
[1] 75% [2] 35%
[3] 45% [4] 50%
[5] None of these
Ans: [2]



Q77. EFTPOS is an electronic payment system involving electronic funds transfers based on the use of payment cards, such as debit or credit cards, at payment terminals located at points of sale. What is E in EFTPOS? [SBI PO 2016]
[1] Electronic [2] Essential
[3] Every [4] Effective
[5] None of the above
Ans: [1]



Q78. Which of the following is not a primary function of a bank? [IBPS PO 2016]
[1] Facilitating import of goods
[2] Remittance facility
[3] Safe custody of articles
[4] Foreign Exchange
[5] Purchase and Sale of Foreign Exchange
Ans: [1]



Q79. Which of the following does not fall into the functions of Payments Banks? [IBPS PO Main 2016]
[1] Acceptance of demand deposits
[2] Internet banking
[3] Kemittance services
[4] Lending services
[5] Sell mutual funds, insurance and pension products
Ans: [4]



Q80. Which bank launched “Dhanchayat” an Educational film, to raise awareness on the dangers of borrowing money from unorganized sources? [IBPS O/S-I 2015]
[1] ICICI [2] SBI
[3] HDFC [4] PNB
[5] None of these
Ans: [3]



Q81. Which among the following is the slogan of Allahabad Bank? [RBI Assistant 2016]
[1] A tradition of trust [2] World wise
[3] Honour your trust [4] Invest with confidence
[5] Trusted family bank
Ans: [1]



Q82. Which bank announced that it had entered into agreements with private insurers Cigna TTK and Reliance General Insurance to provide health and general insurance services to its customers? [RBI Assistant 2016]
[1] Tamilnadu Merchantile Bank
[2] Bank of Baroda
[3] Maharashtra Bank
[4] Andhra Bank
[5] None of these
Ans: [4]



Q83. According to a recent Reserve Bank’s Instructions on Banking matters. Banks cannot accept interest free deposits other than in [IBPS Clerk 2013]
[1] Demand deposit account
[2] Term deposit account
[3] Current account
[4] Both [1] and [2]
[5] None of these
Ans: [3]



Q84. Which of the following is/are traditional type of open market operations used by the Reserve Bank of India ? [IBPS Clerk 2013]
[1] Outright purchase
[2] CRR [Cash reserve ratio]
[3] SLR [Statutory Liquidity Ratio]
[4] Repurchase agreement [REPO]
[5] Both [1] and [4]
Ans: [5]



Q85. The deposit of cash under cash reserve ratio[CRR] requirement with the RBI is a [SBI PO Main 2017]
[1] Contributory requirement
[2] Discretionary requirement
[3] Mandatory requirement
[4] Voluntary requirement
[5] None of these
Ans: [3]



Q86. Which one of the following rates is not decided by RBI?
[1] Repo rate [SBI PO Main 2017]
[2] Prime Lending Rate
[3] Bank rate
[4] Marginal Standing Facility [MSF] rate
[5] None of these
Ans: [2]



Q87. Who can file a criminal case against the drawer of a dishonored cheque? [SBI PO Main 2017]
[1] The payee [2] The holder in due course
[3] Both of the above [4] The paying banker
[5] None of these
Ans: [3]



Q88. The Aadhar-Enabled Payment System [AEPS] is a bank-led model that facilitates banking facilities through banking correspondents across banks. However, Aadhaar-enabled basic types of banking transactions do ‘not’ include? [SBI PO Main 2017]
[1] Aadhaar to Aadhaar funds transfer
[2] Small overdraft facility
[3] Cash withdrawal
[4] Balance enquiry
[5] Cash deposit
Ans: [2]



Q89. Mutual Fund Agents are compensated through [IBPS RRB Main 2017]
[1] Salaries [2] Commissions
[3] An annual fee [4] Not in cash but in kind
[5] Any of these depending upon his/her quarterly performance
Ans: [2]



Q90. All records of an individual’s payments pertaining to loans and credit cards are submitted to Credit Information Bureau [India] by member banks and credit institutions, on a [IBPS RRB Main 2017]
[1] Daily basis [2] Weekly basis
[3] Fortnightly basis [4] Monthly basis
[5] Quarterly basis
Ans: [4]



Q91. Base Rate of loans are [IBPS RRB Main 2017]
[1] Set by the Reserve Bank of India
[2] Fixed by individual banks
[3] Applicable to all new loans after July 2010
[4] Both a and b
[5] Both b and c
Ans: [5]



Q92. Which of the following is/are not the function/functions of RBI? [IBPS PO RRB Main 2017]
1. Issue of Notes
2. Bankers of Bank
3. Issue of One Rupee note
[1] Only 1 [2] Only 2
[3] Only 3 [4] Only 2 and 3
[5] All 1, 2 and 3
Ans: [3]



Q93. Bandhan bank deals mainly in [IBPS PO RRB Main 2017]
[1] Customer credit
[2] Microfinance
[3] Control of Money supply
[4] Both [1] and [2] are correct
[5] None of these
Ans: [3]



Q94. Who pays the Rural Area Business Correspondents for their services? [IBPS PO RRB Main 2017]
[1] Banks
[2] Ministry of Finance
[3] Ministry of Labour & Employment
[4] Ministry of Rural Development [India]
[5] None of these
Ans: [1]



Q95. The RBI has recently constituted a 10-member ‘High Level Task Force on Public Credit Registry [PCR] for India’, who is the head of Public Credit Registry? [IBPS PO Main 2018]
[1] Sekar Karnam [2] Rashesh Shah
[3] Vishaka Mulye [4] Sriram Kalyanaraman
[5] YM Deosthalee
Ans: [5]



Q96. The RBI has asked banks authorised to deal in foreign exchange [Authorised Dealer-I Banks] to share data with which of the following? [IBPS PO Main 2018]
[1] Ministry of Finance
[2] Securities and Exchange Board of India
[3] Directorate of Revenue Intelligence
[4] Intelligence Bureau
[5] Comptroller and Auditor General of India
Ans: [3]



Q97. The rate of interest charged by the central bank for short term on the cash borrowed by commercial banks is called _______. [IBPS RRB Asst. Main 2018]
[1] Repo Rate [2] Reverse Repo Rate
[3] Bank Rate [4] Cash Reserve Ratio
[5] Base Rate
Ans: [1]



Q98. Statutory Liquidity Ratio [SLR] is defined as ‘the share of bank’s total deposit that it needs to maintain itself as liquid assets’. The current rate of SLR is ___________. [IBPS RRB Asst. Main 2018]
[1] 19.75% [2] 20.00%
[3] 19.50% [4] 20.25%
[5] 19.25%
Ans: [3]



Q99. In Basic Savings Bank Deposit Account [BSBDA], one can withdraw money __________ times in a month. [IBPS RRB Asst. Main 2018]
[1] six [2] two
[3] five [4] three
[5] four
Ans: [5]



Q100. Bharat QR Code will make use of QR codes system for payments across merchant outlets. Bharat QR was launched by ________. [SBI PO Main 2018]
[1] FICCI [2] NPCI
[3] RBI [4] SEBI
[5] IRDAI
Ans: [2]



Q101. Banks have finalised an inter-creditor agreement to resolve the issue of mounting ________ under Project “Sashakt”. [SBI PO Main 2018]
[1] Fund Transfer [2] UPI
[3] NPA [4] KYC
[5] NEFT
Ans: [3]



Q102. Which of the following Banks’ credit card issuer announced the launch of ‘ELA’ [Electronic Live Assistant], a virtual assistant for customer support and services? [IBPS RRB PO Main 2018]
[1] State Bank of India
[2] HDFC Bank
[3] Bank of Baroda
[4] Axis Bank
[5] Punjab National Bank
Ans: [1]



Q103. The rate on which banks borrow loan from RBI is _______. [IBPS RRB PO Main 2018]
[1] Reverse Repo Rate
[2] Repo Rate
[3] Cash Reserve Ratio
[4] Base rate
[5] Marginal Standing Facility
Ans: [2]



Q104. To provide relief to the medium and small enterprises sector, the RBI announced that GST registered MSME borrowers will get a further ___________ day window to pay dues if their accounts were standard as on August 31st 2017. [IBPS RRB PO Main 2018]
[1] 30 days [2] 150 days
[3] 90 days [4] 120 days
[5] 180 days
Ans: [5]



Q105. What is rate of SLR? [RBI Grade-B 2018]
[1] 19.5% [2] 18.5%
[3] 16.25% [4] 15.5%
[5] None of these
Ans: [1]



Q106. Under FRDI Bill, bail-in clause will affect [RBI Grade-B 2018]
[1] Borrower
[2] Depositors
[3] Recipients
[4] None of these
[5] None of these
Ans: [2]



Q107. In order to address the twin balance sheet problem of the banking sector and the corporate sector, the RBI made a strong case for setting up a ___________ in India. [IBPS Clerk Main 2019]
[1] Public Credit Registration
[2] Public Credit Registry
[3] Public Credit Review
[4] Public Credit Reminder
[5] Public Commerce Registry.
Ans: [2]



Q108. The IFSC is an 11-character code with the first four alphabetic characters representing the bank name, and the last six characters [usually numeric, but can be alphabetic] representing the branch. The fifth character is 0 [zero] and reserved for- [SBI PO Main-2019]
[1] Future use [2] Cash scheme
[3] Account Information [4] Balance Rate
[5] Cash Withdraw
Ans: [1]



Q109. Trading of priority sector lending certificates [PSLCs] on the government’s ____________ portal by banks will attract integrated goods and services tax. [SBI PO Main-2019]
[1] e-dhan [2] e-indra
[3] e-kuber [4] e-mudra
[5] e-surya
Ans: [3]



Q110. RBI has formed a committee to review regulatory guidelines and supervisory framework applicable to core investment companies [CICs]. This committee is headed by- [SBI Clerk Main-2019]
[1] Bimal Jalan [2] Smt. Usha Thorat
[3] Tapan Ray [4] Shri T. N. Manoharan
[5] None of these
Ans: [3]



Q111. The surcharge was levied on individuals with a total income more than `1 crore at the rate of- [SBI Clerk Main-2019]
[1] 10% [2] 15%
[3] 20% [4] 25%
[5] 30%
Ans: [1]



Q112. RBI has initiated steps to set up a wide-based DPCR to capture details of all borrowers. DPCR stands for- [SBI Clerk Main-2019]
[1] Digital Public Cash Rupee
[2] Digital Plan of Cash Registry
[3] Digital Public Credit Registry
[4] Detailed Public Credit Rate
[5] None of these
Ans: [3]



Q113. T.N. Manoharan Committee was launched by? [SBI Clerk Main-2019]
[1] RBI [2] Ministry of Finance
[3] SIDBI [4] SEBI
[5] None of these
Ans: [1]



Q114. RBI constituted a six-member committee to strengthen the corporate governance framework of systematically important CICs. What is the full form of CIC? [IBPS RRB Clerk Main-2019]
[1] Core Investment Company
[2] Committed Investor Company
[3] Core Information Cell
[4] Cost of Investment Company
[5] None of these
Ans: [1]



Q115. How many batches in NEFT daily? [IBPS Clerk Main-2020]
[1] 20 [2] 32
[3] 48 [4] 64
[5] 59
Ans: [3]



Q116. RBI has instructed banks on cash withdrawal at POS for tier III to Tier VI [IBPS Clerk Main-2020]
[1] 500/- per day [2] 1000/- per day
[3] 1500/- per day [4] 2000/- per day
[5] 2500/- per day
Ans: [4]



Q117. Which of the following organizations has constituted a Central Repository of Information on Large Credits [CRILC]? [IBPS Clerk Main-2020]
[1] RBI [2] SEBI
[3] SIDBI [4] FICCI
[5] None of these
Ans: [1]



Q118. RBI has increased the timeline for conversion of minimum KYC detail for prepaid payment instruments [PPIs] to full KYC compliant PPIs: [IBPS Clerk Main-2020]
[1] 6 months to 12 months
[2] 12 months to 18 months
[3] 18 months to 24 months
[4] 1 months to 6 months
[5] 24 months to 30 months


Ans: [3]


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