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Banking Awareness for IBPS Clerk/RBI Assistant(December 7, 2017)

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Banking Awareness for IBPS Clerk/RBI Assistant

1.  Nationalisation of banks aimed at all of the following, except

1) access of banking to masses

2) removal of control by a few capitalists

3) provision of credit to big industries only

4) provision of adequate credit for agriculture, SME and exports

5) encouragement of a new class of entrepreneurs

2. What is Call Money? 

1) Money borrowed or lent for a day or overnight

2) Money borrowed for more than one day but up to 7 days

3) Money borrowed for more than one day but up to 3 days

4) Money borrowed for more than one day but up to 14 days

5) None of these

3.  What is an Indian Depository Receipt?

1) A deposit account with a public Sector Bank

2) A depository account with any of the Depositories India

3) An instrument in the form of depository receipt created by an Indian depository against underlying equity shares of the issuing company

4) An instrument in the form of deposit receipt issued by Indian depositories

5) None of these

4.  Which of the following is not a part of the scheduled banking structure in India ?

1) Money Lenders

2) Public Sector Banks

3) Private Sector Banks

4) Regional Rural Banks

5) State Co-operative Banks

5. Many a time we read a term ‘SEPA’ in financial newspapers. What is the full form of the term? 

1) Single Exchange Processing Agency

2) Single Euro Payments Area

3) Single Electronic Processing Agency

4) Super Electronic Purchase Agency

5) None of these

6. Drawing, accepting, making or issuing of any promissory note, hundi or bill of exchange expressed to be payable to bearer on demand by a person other than the Reserve Bank of India or the Central Government is prohibited  under 

1) Banking Regulation Act, 1949

2) Section 31 (1) of the Reserve Bank of India Act, 1934

3) Negotiable Instruments Act, 1881

4) Indian Contract Act, 1872

5) None of the above

7. Treasury Bills means 

1) salary bills drawn by Government officials on the treasury 

2) bills drawee by the Government contractors and other suppliers on the treasury for the dues owed to them by the Government

3) obligation of the Government of India issued by the Reserve Bank of India and payable normally 91 days after  issue

4) a mode of drawings by the Treasury Office on the Reserve Bank of India

5) None of the above

8. BCSBI stands for

1) Banking Codes and Standards Board of India

2) Banking Credit and Standards Board of India

3) Banking Codes and Service Board of India 

4) Banking Credit and Service Board of India

5) None of these

9. An account in which trading of shares in their electronic form is done, is known as

1) D-mat account

2) NRI account 

3) NRIO account

4) Current account

5) None of these

10. A Savings Bank Account opened with a commercial bank with zero balance or very minimal balance is known as 

1) Savings Bank Ordinary account

2) Student Savings Bank account

3) No-Frill account

4) Current account

5) Call deposit


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