Banking General Awareness Quiz for IBPS POs / SBI Clerks

1. Various expert Committees were appointed previously on development of corporate bond markets in India.Which of the following is correct?
a) R. H. Patil Committee : High Level Expert Committee on Corporate Bonds and Securitisation in 2005
b) Percy Mistry Committee: High Powered Expert Committee on Making Mumbai an International Financial Centre in 2007
c) Dr. Raghuram Rajan Committee: A Hundred small steps [Report of the Committee on Financial Sector Reforms (CFSR) in 2009
d) All the above
e) None of these

2. The cooperative movement in the country, originated as a measure against rural poverty, agrarian disturbances in 1875 in the Deccan against moneylenders led to the enactment of which of the following
a) Negotiable Instruments Act
b) Taccavi legislation in 1892
c) Transfer of Property Act
d) Bonus Act
e) Trade Union Act

3. What are the usages of credit cards?
a) for purchase of goods and services at Point of Sale (POS)
b) for purchase of goods and services in E - commerce (online purchase)/ through Interactive Voice Recurring transactions/ Mail Order Telephone Order (MOTO).
c) to withdraw cash from an ATM
d) for transferring funds to bank accounts
e) All the above

4. Bankers Books Evidence Act was passed in which year?
a) 1972
b) 1891
c) 1872
d) 1881

e) 1926

5. Paper currency in India owed much to the intellectual stimulus and personal dynamism of whom? He was the first Finance Member in the Executive Council of the Viceroy of India.
a) Sir James Wilson
b) Samuel Laing
c) Warren Hastings
d) Pits
e) Montague

6. Who is the first Governor of RBI (during British period)?
a) Sir Osborne Smith
b) Sir James Taylor
c) Cook
d) None of these
e) Rippon

7. Which Act envisaged formation of agricultural co-operatives in India?
a) Regulating Act
b) Co-operative Credit Societies Act, 1904
c) Evidence Act
d) Contract Act
e) IPC

8. Who recommended the establishment of cooperative societies in India, on the Raiffeisen model popular in Germany
a) Rajarammohan Roy
b) Sir Frederick Nicholson
c) Eswarchandra Vidya Sagar
d) None of these
e) Lala Lajpat Rai

9. All regulators may explore an acceptable mechanism for valuation including engaging the FBIL or credit rating agencies for the same with necessary safeguards and regulatory oversight. In the abbreviation FBIL, the letter F stands for what?
a) Fiscal
b) Financial (FBIL: Financial Bench marks India Pvt. Ltd.)
c) Floating

d) Flying
e) Free

10. Which bank was able to raise AT 1 perpetual bond for a very small size of Rs.150 crores with (A-) rating and at a very high cost of 11.95% p.a., coupon rate?
a) PNB
b) United Bank of India
c) OBC
d) IOB
e) BOI

11. NBFCs in India include not just the finance companies that the general public is largely familiar with: the term also entails wider group of companies that are engaged in which of the following?
a) investment business
b) insurance
c) chit fund
d) nidhi, merchant banking, stock broking, alternative investments, etc., as their principal business.
e) All the above (All are though not under the regulatory purview of the Reserve Bank)

12. NBFCs are financial intermediaries and are engaged in the activity of bringing the saving and the investing community together. In this role they are perceived to be playing a complimentary role to banks rather than competitors, as majority population in the country does not yet have access to mainstream financial products and services including a bank account. Which of the following NBFCs have a complimentary role in the financial
inclusion agenda of the country?
a) NBFC-MFIs (Micro Finance Institutions) and Asset Finance Companies
b) Share Brokers
c) Super Bazars
d) None of these
e)Trusts

13. Which of the following cannot be called as a Debt Instrument as referred in financial transactions?
a) Bonds
b) Promissory notes
c) Shares of a company
d) Commercial Papers
e) None of these

14. Who is the first Indian Governor in RBI?
a) Sir Thomas Munroe
b) C.D.Deshmukh
c) John Malcolm
d) None
e) Mountstuart Elphinstone

15. Banking Regulation Act was applicable to Urban Co-operative Banks in which year?
a) 1949
b) 1966
c) 1934
d) 1969
e) None

16. Which Task Force was constituted to look into various aspects of the long term co-operative credit structure (Report is to be final by Government for implementation)?
a) GC Chaturvedi
b) Prof. A. Vaidyanathan
c) Malegam
d) C Rangarajan
e) None of these

17. What are the usages of debit cards?
a) to withdraw cash from an ATM,
b) purchase of goods and services at Point
c) E-commerce (online purchase) both domestically and internationally (provided it is enabled for international use).
d) All the above (However, it can be used only for domestic fund transfer from one person to another)
e) None of these

18. What is "Crowd funding'?
a) PF
b) It is a common term where small amounts of money from large number of individuals/organizations is raised to fund an art work, social cause or start-up venture through web-based platform
c) Pension Fund
d) PPF
e) None

19. Which of the following is an electronic mode of payment/transaction?
a) ECS
b) NECS
c) NEFT
d) RTGS
e) All the above

20. How many types of cards are available to a customer? (Cards can be classified on the basis of their issuance, usage and payment by the card holder)

a) debit cards

b) credit cards

c) prepaid cards

d) All the above viz., 3 types

e) None