BANKING RELATED GENERAL AWARENESS --FOR IBPS CLERKS
Test-I:
General Awareness
1. A
panel headed by Parthasarathi Sahome submitted its recommendation recently. Which
of the following is NOT correct with respect to these recommendations?
a) The post of
revenue secretary should be abolished as part of needed reforms in the tax
administration.
b) The Central
Board of Direct Taxes and the Central Board of Excise and Customs should be
merged to achieve efficiencies.
c) A separate
budget allocation to ensure time-bond tax refund and a passbook scheme for tax
Deduction at Source.
d) Develop PAN
as a common business identification number to be used by other govt departments
also.
e) The
retrospective amendments to tax laws should be adopted to avoid tax losses.
2. Who among the following leading Indian
software exporters has become the world’s third largest employer of people in
the IT sector, with over 3 lakh employees? At the present pace it is all set to
become the second largest employer in IT sector only behind IBM this year.
a) Infosys b) Wipro c) TCS d) HCL e) Tech Mahindra
3. Through which of the following tools do
banks park excess liquidity with the Reserve Bank of India?
a) Term
repo b) Reverse term repo c) Bank rate d) LAF
e) None of these
4. The then Finance Minister P Chidambaram
had asked the Asian Development Bank (ADB) to double its lending capacity to
$20 bn a year at the annual meeting of ADB in Astana, Kazakhstan. What has been
the annual lending capacity of ADB under Ordinary Capital Resources for the
past five years?
a) $4-5 bn b)
$6-7 bn c) $8-9 bn d) $10-11
bn e) $12-13 bn
5. The new Indian capital market
regulations provides for all existing overseas investor classes to register now
as FPIs to invest in Indian markets.
What does the letter ‘P’ denotes in the term FPI?
a)
Participatory b) Portfolio c) Preferred d) Priority e) Periodic
6. In
which of the following countries has a powerful Congressional committee sought
a classified briefing on technologies that are currently being considered for
transfer or export to India from that country?
a) Russia b) France c) US d) UK e) None of these
7.
Which of the following is NOT
a Banking/Finance-related term?
a) CAR b) Bank rate c) SAR d) SLR e) None of these
8. Who
among the following provides short-term credit limits to state Cooperative
Banks against pledge of Govt securities for financing seasonal agriculture
operations?
a) RBI b) NABARD c) Ministry of Finance d) Ministry of Agriculture
e) None of these
9. The capital market regulator, Securities
and Exchange Board of India (Sebi), raised the minimum net worth criteria of asset
management companies from Rs.10 cr to what
amount earlier this year?
a) Rs.20
cr b) Rs.30
cr c) Rs.40
cr d) Rs.50
cr e) Rs.70
cr
10. Which
of the following panels set up by the RBI on credit information has recommended
that a copy of their credit profile should be provided to customers for free?
a) Deepak Parekh
Panel b) Shikha Sharma Panel c) Aditya Puri Panel
d) Chanda
Kochhar Panel e) Pratip Chaudhuri
Panel
11. What
is the full form of SEFIO?
a) Systematic
Fraud Investigation Office
b) Securities
Fraud Investigation Office
c) Server Fraud
Investigation Office
d) Serious Fraud
Investigation Office
e) None of these
12. Industry body SIAM is associated with
which of the following industries? Its recently released data shows an increase
in the sales in the industry which was facing slowdown for a long time.
a) Software b)
Automobiles c) Textiles d)
Shipping
e) None of these
13. The Reserve Bank of India (RBI) has
simplified KYC norms for opening of bank accounts recently. Which of the
following statements is/are correct in this regard?
a) A bank
account can be opened with just one address proof.
b) Customers may
submit either current or permanent address proof while opening a bank account
or while undergoing periodic updation.
c) In cases
where customer is not able to furnish local proof of address, the bank may the banks
take a declaration of the local address on which all correspondence will be made
by the bank with the customer.
d) All the above
e) Only (a) and
(b)
14. The
Govt is considering which of the following measures to help sugar mill owners
in the country?
a) Extra Rs.4,400-cr
interest-free loans to sugar mills
b) Hiking sugar
import duty from 15 per cent to 100 per cent to curb cheap imports
c) Increasing
ethanol blending in petrol to 10 per cent as an effort to improve the liquidity
of mills
d) All the above
e) Only (a) and
(c)
15. The
market regulator Sebi is likely to tweak Initial Public Offering (IPO) norms to
boost retail participation. As per the current regulation, a company has to
divest at least what per cent of its stake through the IPO if its valuation is
below 
4,000 cr?
4,000 cr?
a) 50 per
cent b) 40 per cent c) 30 per cent d)
25 per cent
e) 15 per cent
16. Finance
Minister Arun Jaitley has been appointed on the Board of Governors of Asian Development
Bank (ADB). Founded in 1966, the multilateral funding agency aims to improve
people’s lives in Asia and the Pacific and is headquartered at
a) Manila b) Kuala Lumpur c)
Tokyo d) Jakarta
e) None of these
17.
Who among the following has
been appointed as the new revenue secretary recently?
a) RR
Wattal b) Ravi Mathur
c) GS Sandhu
d) Shaktikanta
Das e) None of these
18. An
industrial accident took place recently in SAIL’s steel plant, killing six
persons and affecting several others in which of the following cities? Possibly
a composition of deadly methane and carbon monoxide leaked from the plant,
causing the fatal accident.
a)
Jamshedpur b) Paradeep c)
Bhilai d) Rourkela
e) None of these
19. Vishal
Sikka was appointed as the chief executive officer (CEO) of which of the following
leading software exporters in India recently?
a) Wipro b) Infosys c) TCS d) Tech Mahindra e) None of these
20. A
panel of Cabinet ministers of which of the following countries recently voted unanimously
to reject the 3.2-bn-dollar Hidro Aysen mega-project planned to be built on Baker
and Pascua rivers? The dams were to come up in the environmentally sensitive Patagonia
region.
a) Bolivia b)
Argentina c) Peru d) Brazil e) Chile
21. The
total value of all final goods and services produced within a nation in a
particular year, plus income earned by its citizens (including income of those
located abroad), minus income of non-residence located in that country, is
called
a) GDP b)
GNP c)
PPP d) GNI e) None of these
22. Name
plant scientist who won the USD 250,000 World Food Prize for his contribution
in increasing global wheat production by more than 200 mn tonnes in the years
following the Green Revolution?
a) Gebisa
Ejeta b) Daniel Hillel c)
Robert Fraley
d) Sanjaya
Rajaram e) None of these
23. The
public sector thermal and hydro power generation company NTPC has sought
lifiting of embargo on Lata Tapovan project work. The project was to come up in
which of the following states?
a) Himachal
Pradesh b) Sikkim c) Arunachal Pradesh
d) Jammu &
Kashmir e) Uttarakhand
24. The Bangalore-based GMR Infrastructure won
the arbitration proceedings initiated against the govt of which of the
following countries after the latter had unilaterally cancelled the $500-mn
contract given to GMR?
a) Sri
Lanka b) Maldives c) Myanmar d)
Malaysia
e) None of these
25. As
per the latest data released by the Swiss National Bank (SNB), Switzerland’s central
banking authority, Indian money is Swiss banks has risen to over
a) Rs.14,000
cr b) Rs.19,000 cr
c) Rs.22,000 cr
d) Rs.34,000
cr e) None of these
26. The
Chinese govt has published a white paper on Hong Kong that stresses its
authority over the territory. Hong kong was handed over to China on 1 Jul 1997
by
a) UK b)
Germany c) Russia d) France e) None of these
27. Who
among the following is NOT associated with day-to-day functioning of the
Reserve Bank of India?
a) R Gandhi b)
Urjit R Patel c) HR Khan d)
KC Chakrabatry
e) None of these
28. India
has emerged as a major player in the global agriculture market. The agriculture
sector accounted for about what per cent of the gross domestic product (GDP) in
2013?
a) 8 per
cent b) 10 per cent c) 12 per cent d) 14 per cent
e) None of these
29. Which
of the following gases in NOT a Greenhouse Gas? The greenhouse gases are responsible
for global warming.
a) Methane b)
Nitrous Oxide c) CFC-12 d) Carbon Dioxide
e) None of
these
30. Which
of the following is/are the feature(s) of the ambitious Mahatma Gandhi National
Rural Employment Guarantee Act (MGNREGA) programme launched by the govt?
a) It aims at
enhancing the livelihood security of people in rural areas.
b) It guarantees
hundred days of wage employment in a financial year to do unskilled manual
work.
c) It provides
for medical care of up to 30,000 per family per year in any
of the empanelled hospitals.
30,000 per family per year in any
of the empanelled hospitals.
d) Only (a) and
(b)
e) Only (b) and
(c)
31. Which
of the following is a path-breaking initiative by the Union Govt and the Indian
Banks ‘Association aimed at bringing the underprivileged segments of Indian population
into the formal banking fold for the first time?
a) Ek Nayi
Shuruat b) Swavalamban
c) Antyodaya Yojana
d)
Swabhimaan e) None of these
32. The Union Govt is considering amending the
Agriculture Produce Market Committee (APMC) Act. Under the Act the farmers can
sell their produce only to who among the following?
a)
Retailers b) Consumers c)
Traders and Middlemen
d) Local
hawker’s e) None of these
33. What
does letter ‘A’ denote in the term LAF?
a) Advance b) Adjustment c) Adequacy
d) Availability
e) None of these
34. Which
among the following is a savings bank account opened with a commercial bank with
zero or very minimal balance?
a) Current
Account b) Call Deposit c)
No Frill Account
d) Deposit
Account e) None of these
35. Which
of the following statements is are correct with respect to the warship INS Vikramaditya
Commissioned into the Indian Navy recently?
a) The
44,500-tonnes aircraft carrier carries 1,500 personnel.
b) With her
complete stock of provisions, she is capable of sustaining herself at sea for
about 90 days.
c) It is a
modified Kiev-class aircraft carrier which was purchased by India from Russia
for over Rs.15,000 cr.
d) All the above
e) Only (a) and
(c)
36. Militant
separatist group ISIS is in news for its recent activities in which of the
following countries?
a) Iraq b)
Iran c) Libya d) Nigeria e) None of these
37. Which
of the following institutions has been set up with an aim to boost overall
rural development in India?
a) SIDBI b) IDBI c) NABARD d) SEBI e) None of these
38.
Which of the following Acts
regulates banks operating in India?
a) Reserve Bank
of India Act b)
Banking Regulation Act
c) Companies Act d)
State Bank of India Act
e) None of these
39. The
State Govt transactions are carried out by the RBI. As of now, such agreements
exist between RBI and all the State Govts except
a) Govt of
Manipur b) Govt of Sikkim
c) Got of Tripura
d) Govt of
Nagaland e) None of these
40. KYC
is an acronym for “know Your Customer”, a term used for customer identification
process. For the purpose of KYC who
among following are the ‘Customers of the bank’ as per the RBI norms?
a) A person or
entity that maintains an account and/or has a business relationship with the
bank.
b) One on whose
behalf the account is maintained (ie the beneficial owner).
c) Any person or
entity connected with a financial transaction which can pose significant
reputational or other risks to the bank.
d) All the above
e) Only (a) and
(b)
41. Which
of the following agencies/organisations is responsible for compilation of data on
Industrial production in India?
a) Central
Statistics Office b) National Development
Council
c) National
Testing Lab d)
Department of Commerce, GoI
e) None of these
42. Which
of the following will NOT be accepted by the bank as a valid proof of address for
an individual?
a) Telephone
bill
b) Bank account
statement
c) PAN Card
d) Letter from
any recognized public authority
e) Electricity
bill
43. When
we opt for a loan, generally the bank offers to repay the amount in Equated Monthly
Installments (EMIs). EMIs comprise
a) Only the
principal
b) Only the
interest
c) both
principal and interest
d) Only interest
for half the loan tenure and then both principal and interest
e) None of these
44. The
shareholders approved the re-appointment of Rana Kapoor as managing director and
CEO of which of the following private sector banks operating in India recently?
a) YES Bank b) Federal Bank c) Axis Bank
d) Kotak Mahindra
Bank e) None of these
45. The Prime Minister Narendra Modi described
the bilateral relations between India and which of the following countries as
‘B2B’ recently? The first ‘B’ stands for Bharat in the term B2B.
a)
Bangladesh b) Bhutan
c) Belarus d)
Brazil e) None of these
46. We
often read about performance of core sector in financial newspapers. While
talking about Core sector, which of the following is NOT considered?
a)
Electricity b) Textiles c)
Crude Oil d) Fertilizers
e) Natural Gas
47. A
statement that summarises an economy’s transactions with the rest of the world
for a specified time period, is called
a) Gross
National Income b) Balance sheet c)
Balance of trade
d) Balance of
payments e) None of these
48. After
suppression of Russia from the powerful G-8 group the 2014 summit scheduled to be
held in Sochi was cancelled. Thereafter G7 meeting was held on Jun 4-5 in which
of the following cities?
a)
Frankfurt b) Rome c) Brussels d)
Hague
e) None of these
49.
Which of the following is NOT
non-tax revenue of the Govt of India?
a) Aid from the
US b) Dividends and profits
c) Loans or
other borrowings d)
Revenue from sale of state assets
e) Union excise
duties
50. As
we read in financial newspapers, services sector contribute greatly in the
country’s economy. Which of the following comes under services sector?
a)
Construction b) Banking c)
Mining d) Food processing
e) None of these
51. Who
among the following is one of the four deputy governors of the Reserve Bank of India?
a) R Gandhi b)
DK Mohanty c) P Vijaya Bhaskar
d) B Mahapatra e)
G Padmanabhan
52.
Expand the term TARC.
a) Trade
Administration Reform Commission
b) Territorial
Administration Reform Commission
c) Tiered
Administration Reform Commission
d) Tax
Administration Reform Commission
e) None of these
53. What does the term ‘SHG’ denote? It is the
short form of a popular women empowerment
a) Shree Health
Group b) Small Housing Group c) Street Hawkers’ Group
d) Self Help
Group e) None of these
54.
Which the following loans is
NOT part of the loans to micro and small enterprises?
a) Loans for
software development b) Loans to small business
c) Loans to
small road transport operators d) All the above
e) None of these
55. India
became a permanent member of Washington Accord (WA) recently. WA is an International
agreement with the charter of promoting mobility and quality assurance of which
of the following across international boundaries?
a)
Engineers b) Doctors c) Nurses d)
Software developers
e) None of these
56. The
delivery of financial services at affordable costs to sections of disadvantaged
and low-income segments of society is known as
a) financial
exclusion b) financial inclusion
c) financial stability
d) poverty
alleviation e) None of these
57.
Star series banknotes refer to
which of the following?
a) Currency
notes with defective printing
b) Banknotes
with an asterisk printed on them
c) Banknotes
used to replace defectively printed banknotes
d) Banknotes
used to replace old banknotes
e) None of these
58. Open
Market Operation (OMOs) are among the measures taken by the RBI to control credit
expansion in the economy. OMOs mean
a) Auction of
precious metals
b) Sale or
purchase of short-or-long-term govt securities
c) Issuance of
different types of bonds
d) Facilitating
direct finance to borrowers
e) None of these
59. Which
of the following pairs of international institutions and their heads is NOT correctly
matched?
a) World Bank –
Jim Young Kim b) IMF – Christine Lagarde
c) ADB - Haruhiko Kuroda d) UN – Ban KI-moon
e) None of these
60. Which
of the following banks is NOT insured by the Deposit Insurance and Credit Guarantee
Corporation (DICGC)?
a) Branches of
foreign banks functioning in India
b) Local area banks
and regional rural banks
c) Primary
cooperative societies
d) Private
sectors banks
e) None of these
61.
Which of the following does
the DICGC insure in the event of a bank failure?
a) Deposits of
foreign Govts b) Deposits of Central/State Govts
c) Inter-bank
deposits
d) Deposits of
the State Land Development Banks with the State Cooperative banks.
e) None of these
62. The
Banking Ombudsman is senior official who redresses customer complaints against Ombudsman
is appointed by
a) the Reserve
Bank of India b) the Finance Ministry
c) the Governor
of the state d) the High
court of the state
e) None of these
63. A
Banking Ombudsman will not entertain a complaint if the compensation sought by
the complainant is beyond
a) Rs.2
lakh b) Rs.5 lakh c) Rs.10 lakh d) Rs.20 lakh
e) Rs.50 lakh
64.
Who among the following is the
present President of the World Bank?
a) Margaret
Chan b)
Robert Zoellick c) Ophelia Dahl d) Jim Yong Kim
e) Paul Farmer
65. While
participating in some international organisations and international events, the
name Chinese Taipei is used by
a) Taiwan b)
Hong Kong c) Tibet d) Mongolia e) None of these
66.
What is the meaning of a
scheduled bank?
a) The bank
incorporated under the Banking Companies Act 1956
b) The bank
authorized to do banking functions
c) The bank
included in the Second Schedule of the RBI Act 1934
d) The bank
functioning under the provisions of the Bank Regulation Act 1949
e) None of these
67. As
per the provision of the RBI Act, what is the highest-denomination banknote
that the Central bank can issue?
a) Rs.1000 b)
Rs.2000 c)
Rs.5000 d)
Rs.10000
e) Rs.20000
68.
Which of the following is NOT
a negotiable instrument?
a) National
Savings Certificate b) Promissory note c) Bill of exchange
d) Demand
draft e) Cheque
69. One
of the primary functions of the RBI is to control the supply as well as the
cost of credit in the country. One of the tools it uses for the purpose is Cash
Reserve Ratio (CRR). Which of the following statements is/are NOT correct about
CRR?
a) Under CRR a
certain percentage of the total bank deposits has to be kept in the current account
with the RBI.
b) Banks do not
earn anything on the money parked under CRR.
c) Banks are
allowed to lend the money parked under CRR to individual borrowers but not to
commercial borrowers.
d) The current
CRR is 4 per cent.
e) None of these
70. A market where investors purchase
securities or assets from issuing companies themselves, is known as
a) Primary
Market b) Secondary Market
c) Tertiary Market
d) Services
Market e) None of these
71. According
to a paper published recently in the journal Climate Dynamics, the Indus basin is
projected to warm with average temperatures set to increase by around __________
by 2080.
a) 0.5°
C b)
1° C c) 2° C d) 3° C e)
4° C
72. Under
the Liberalised Remittance Scheme, all resident individuals, including minors,
are allowed to freely remit up to USD 125,000 per financial year. Remittances
directly or indirectly to which of the following countries is NOT allowed under
the scheme?
a) Sri Lanka b) Afghanistan c) China d) Bhutan e) None of these
73. Gilt
funds are mutual fund schemes floated by asset management companies (AMCs) with
exclusive investments in
a) Govt
securities b) Blue-chip companies c) Foreign market
d) IT
companies e) None of these
74. Some
Non-Banking Financial Companies (NBFCs) are said to be systemically important NBFCs.
For being a systemically important NBFC, its asset size as per last audited
balance sheet should be __________ or more.
a) Rs.100
cr b)
Rs.200 cr c)
Rs.500 cr d)
Rs.1000 cr
e) None of these
75. Which
of the following is NOT correct with respect to Statutory Liquidity Ratio
(SLR), tool used by the RBI?
a) It is the
amount a commercial bank needs to maintain in the form of cash or gold or govt approved
securities (Bonds) before providing credit to its customers.
b) It is
determined and maintained by the RBI in order to control the expansion of bank
credit.
c) The RBI can
ensure the solvency of a commercial bank with SLR.
d) The RBI
compels is the commercial banks to lend to priority sector through SLR.
e) None of these
76. What
is the maximum number of the ‘Basic Savings Bank Deposit Account’ that an individual
can maintain with a bank?
a) One b)
Two c)
Three d) Five
e) Any number of
accounts
77.
What is India’s ranking in the
latest annual ranking of the Global Peace Index?
a) 161st b)
154th c) 143rd d)
134th e) None of these
78. Which of the following industrial groups
in India has announced to invest Rs.1.8 lakh cr ($30
bn) across business over the next three years with an aim to break into the Fortune
50 club?
a) Tata
Group b) RIL c) Bharti Airtel d) Essar Group
e) None of these
79. Sri
Lankan parliament overwhelmingly voted not to allow which of the following
recently?
a) Voting rights
to the minority Tamil community
b) The foreign
assistance in building infrastructure in devastated Tamil-majority areas
c) The UNHRC
team into the country to investigate alleged human rights abuses during the
last phase of the civil war against the LITE
d) Opening up
different sectors of country’s economy to the foreign direct investment (FDI)
e) None of these
80. The
capital markets regulator SEBI cleared a slew of reforms recently. Which of the
following is NOT among these reforms?
a) It has made
it mandatory for all listed PSUs to have at least 25 per cent public share
holding within three years.
b) It proposed
easing of the Offer For Sale (OFS) norms wherein retail investors would be
provided with 10 per cent reservation.
c) Non-promoters
with more than 10 per cent stake in the company would be allowed to tap the OFS
route.
d) It has asked
not to share KYC (Know Your Client) information with entities regulated by other
financial-sector watchdogs.
e) None of these
1. e 2. c 3. b 4.
d 5. b
6. c 7. c 8. b 9.
d 10.c
11. d 12.
b 13.
d 14.
e 15.
d
16. a 17. d 18.
c 19.
b 20.
e
21. b 22.
d 23.
e 24.
b 25.
a
26. a 27.
d 28.
d 29.
e 30.
d
31. d 32.
c 33.
b 34.
c 35.
e
36. a 37.
c 38.
b 39.
b 40.
d
41. a 42.
c 43.
c 44.
a 45.
b
46. b 47.
d 48.
c 49.
e 50.
b
51. a 52.
d 53.
d 54.
a 55.
a
56. b 57.
c 58.
b 59.
c 60.
c
61. e 62.
a 63.
c 64.
d 65.
a
66. c 67.
d 68.
a 69. c 70. b
71. e 72.
d 73.
a 74.
a 75.
d
76. a 77.
c 78.
b 79.
c 80.
d
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