Banking Awareness Quiz for IBPS Exams 2017

Mentor for Bank Exams
Banking Awareness Quiz for IBPS Exams 2017
Dear Aspirants,
Welcome to Mentor for Bank Exams Banking Awareness Quiz section. Here we are collected some important practice questions of Banking awareness section that are most repeatedly asked in the previous bank exams. Practice well and be prepared. All the best for upcoming IBPS Exams 2017.
1. Section 9 of the Banking Regulation Act prohibits the banking Companies from holding any immovable property except for its own use for a period of not more property. The RBI may extend this period for a further period of ______:
a) 2 years
b) 4 years
c) 5 years
d) 6 years
e) None of the above
2. Which of the following organizations/ agencies has sought an emergency fund of Rs.1000 crore from banks to tackle acute liquidity crisis, which is coming in the way to give loans to micro borrowers?
a) Regional Rural & Cooperative Banks
b) RBI
c) Micro Finance Institutions
e) None of the above
3. Currency notes deposited in the currency chest are the property of ____?
a) Respective bank
b) RBI
c) SBI
d) Government of India
e) Respective state Government
4. The main business of banks is to accept deposits from the public. However, a bank can refuse to permit opening an account on behalf of _______:
a) Undesirable persons
b) Artificial persons
c) Arrested persons
d) Convicted persons
e) All of the above
5. Banks are required to monitor transactions of suspicious nature for reporting to the authorities under anti- money laundering measures. The purpose of reporting is:
a) Combating finance of terrorism
b) To check hawala transactions
c) To check the inflow of crime money
d) To check inflow of the money earned out of sale of narcotics
e) All the above
6. Every Banking company is required to use the word Bank in its name and no company other than a Banking company can use the words Bank, Banker or Banking as a part of its name as per:
a) Section 7 of Banking Regulation Act
b) Section 7 of RBI Act
c) Section 7 of SEBI Act
d) Section 7 of Nationalization Act
e) None of the above
7. Section 6(A) of B.R. Act has given the list of ancillary services which can be rendered by a Bank under the Banking Regulation Act. in the event that a Bank wants to undertake any other services (other than the list):
a) the bank can seek authority from the RBI
b) Board of directors of that Bank can decide the business suitable to the bank
c) it can be decided by the Bank in the shareholders meeting
d) Bank can do so if that business is notified by the Central Government as the lawful business of a Banking company
e) None of the above
8. Banking Companies are prohibited under Sec 8 of banking Regulation Act to sell and purchase securities. Yet Banks are selling securities (of the customer) which are under pledge as permitted by:
a) Indian Contract Act
c) Government Notification
d) Banking Regulation Act
e) None of these
9. Cryptocurrency is a _______ .
A) Digital Medium of Exchange
B) Plastic Money.
C) Digital payment
D) Both A & B
E) None of these
10. Which statement is not correct about Capital Adequacy Ratio ?
A) It is a thermometer of Bank’s Health.
B) It is the ratio of its Capital to its Risk.
C) It can indicate the Capacity of the Bank’s ability to absorb the possible losses.
D) A good CAR makes vulnerable to the Depositors and lose faith in the banking system.
E) None of these
11. In Take Out Financing there is/are how many parties involve ?
A) One
B) Two
C) Three
D) Four
E) Five
12. In India, main Products of Retail Banking are ________.
A) Loan products
B) Card Products
C) Deposit Products
D) All of these
E) None of these
13. Microcredit is defined as _____.
A) It is the small credit given to poor.
B) It is the instalment given by Farmers against Loan.
C) It is the amount given by Govt. for Small Industries Development.
D) None of these
14. Priority Sector does not includes the _____.
A) Agricultural Finance
B) Education Loans
C) Housing loans
D) Life Insurance Policy
E) All of these
15. Financial Inclusion is also known as ________.
A) Social Responsibility of the Banking and Govt. System.
B) Delivery of Financial Services at an affordable cost
C) Delivery of banking services at an affordable cost.
D) All of these
E) None of these
1. C)   2. D)   3. B)   4. A)   5. E)   6. A)   7. D)   8. D)   9. A)   10. D)   11. C)   12. D)   13. A)   14. D)   15. D)