Banking and Financial Awareness Quiz for IBPS PO

Banking Awareness Quiz for IBPS PO

You must solve the Banking And Financial Awareness MCQ/ Quiz  from  Achiever's Rule on regular basis. The Banking Articles and Current Affairs Articles are beneficial for your upcoming IBPS, RBI, SBI Exams. Download the available PDFs.

 Q1. Which of the following Banks has received the IDRBT award 2016-17 ?

A]Axis Bank
B]UCO Bank
C]Dena Bank
D]Karnataka Bank
E]Andhra Bank


Q2.Which bank has received approval from the RBI to start a local banking subsidiary ?
A]Bank of Africa
B]DBS Bank
C]National Australia Bank
D]Westpac Banking Corporation
E]None of these


Q3.Which of the following organizations has received an award to resolve the public grievances successfully ?
A]RBI
B]SBI
C]NABARD
D]IRDA
E]CBDT


Q4.Which of the following banks has/have received "too big to fail" status from RBI ?
A]SBI
B]ICICI Bank
C]HDFC Bank
D]Only A and C
E]All of these


Q5.SIA is the intelligent assistant of which of the following banks ?
A]Dena Bank
B]Vijaya Bank
C]SBI
D]Oriental Bank of Commerce
E]None of these


Q6."One Family One Bank" is the tagline of which bank ?
A]Bank of Baroda
B]United Bank of India
C]UCO Bank
D]Bank of Maharashtra
E]None of these


Q7.Who is the new Chairman of Syndicate Bank ?
A]Rahul Singh
B]Ajay Vipin Nanavati
C]Siddhart Mehta
D]Basudev Verma
E]None of them


Q8.Which of the following banks has launched a platform for the blockchain technology ?
A]SBI
B]UCO Bank
C]RBI
D]Union Bank of India
E]United Bank of India


Q9.Who is the MD and CEO of Karur Vaishya Bank ?
A]Ayushman Ahuja
B]P.R Seshadri
C]Sourav Sharma
D]Kundan Mishra
E]None of them


Q10.The Public Debt Act was passed in which of the following years ?
A]1938
B]1940
C]1948
D]1944
E]1945


Q11.The Debenture Holders of a company are which of the following ?
A]Partners
B]Employees
C]Creditors
D]Debtors
E]None of these


Q12.According to the banking technology, the Bad loans are which of the following ?
A]Bad Debts
B]Underwriting assets
C]Non performing assets
D]Fictitous assets
E]None of these


Q13.What do you mean by the Floating Exchange Rate ?
A]Controlled Exchange Rate
B]Real Exchange Rate
C]Flexible Exchange Rate
D]Fixed Exchange Rate
E]None of these


Q14.What is the minimum period of issuing the certificates of deposits ?
A]6 months
B]3 months
C]4 months
D]45 days
E]1 year


Q15.The interest rate risk can be termed as which of the following ?
A]Market Risk
B]Operational Risk
C]Credit Risk
D]All of these
E]None of these


Answer with Explanation

Explanation 1. Karnataka Bank has received the IDRBT award 2016-17. The bank has bagged "best bank" award among the small banks for the use of technology for the financial inclusion at 13th IRDBT Banking Technology Excellence award.

Explanation 2. DBS Bank of Singapore has received approval from the RBI to start a local banking subsidiary. The bank would have to lend 40% of the net bank credit to the borrowers in sectors like agriculture etc. within 5 years of opening.

Explanation 3. CBDT (Central Board of Direct Taxes) has received an award to resolve the public grievances successfully by the Minister of State for Personnel Jitendra Singh. CBDT is the apex policy maker for the Income Tax department.

Explanation 4. SBI, ICICI Bank and HDFC Bank have received "too big to fail" status from RBI for 3 consecutive years. These banks are referred as D-SIBs or Domestic Systemically Important Banks.

Explanation 5. SIA is the intelligent assistant of SBI. It is a chatbot which can handle the queries of customers and help them by guiding through various services and retail products by SBI.

Explanation 6. "One Family One Bank" is the tagline of the Bank of Maharashtra. It is a PSU Bank and the headquarter of this bank is situated in Pune.

Explanation 7. Ajay Vipin Nanavati is the new Chairman of Syndicate Bank. He is a chemical engineer from Virginia Tech of US.

Explanation 8. An arm of Reserve Babk of India(RBI) IRDBT has launched a platform for the blockchain technology. IRDBT stands for Institute For Development and Research in Banking Technology.

Explanation 9. P.R Seshadri is the MD and CEO of Karur Vaishya Bank. Seshadri had served Citibank India before joining Karur Vaishya Bank. He succeeds K. Venkataraman.

Explanation 10. The Public Debt Act was passed in 1944. The Act oversees the government securities and the management of those by the RBI.

Explanation 11. The Debenture Holders of a company are the creditors. The debenture holder is the person who has lent money to a company or firm in the form of loan.

Explanation 12. According to the banking technology, the Bad loans are the Non-Performing assets. These loans are made by a bank or finance company on which repayments of loan are not made on scheduled time.

Explanation 13. The Floating Exchange Rate is the exchange rate in which the value of currency is allowed to fluctuate as per as the foreign exchange market.

Explanation 14. The minimum period of issuing the certificates of deposits is 3 months. The certificates of deposits are introduced to enable the banking system to mobilize large deposits from the market at competitive interest rate.

Explanation 15. The interest rate risk can be termed as Market risk. It is possibility for investor to face losses due to some factors which affect the performance of financial markets in which he is associated.