Banking Quiz For IBPS PO & Clerk

Banking Quiz For IBPS PO & Clerk

You must solve the Banking And Financial Awareness MCQ/ Quiz  from  Achiever's Rule on regular basis. It is a mock set of banking knowledge which is prepared as per the standard. The Banking Knowledge are very important to qualify for the upcoming IBPS, RBI, SBI Exams.

Q1.Who is the interim Chairman of Goods and Service Tax Network (GSTN) of India ?

A]Praveen Sardesai
B]Ranjeet Singh
C]A. B Pandey
D]S. Venkat
E]Kuldipak Roy

Q2.BSNL has joined hand with which of the following banks to roll out open mobile wallet ?
A]Dena Bank
B]Vijaya Bank
C]UCO Bank
D]Punjab National Bank
E]Union Bank of India

Q3.Which of the following is included in the Capital Budget ?
A]Income that is received from tax-sources
B]Income that is received from non-tax sources
C]Income that is received from public borrowings
D]All of these
E]None of these

Q4.NSDL stands for which of the following ?
A]National Sample Depository Limited
B]National Securities Depository Limited
C]National Sample Driven Land
D]National Securities Demanding Liability
E]None of these

Q5.Which of the following is not a Development Bank/ Non Commercial Bank ?
A]NABARD
B]IDBI
C]SIDBI
D]National Housing Bank
E]None of these

Q6.Market Cost of the product includes which of the following ?
A]Advertisement Cost
B]Factor Cost
C]Transportation Cost
D]All of these
E]None of these

Q7.Which of the following denotes the Gilt - Edged market ?
A]Gun Market
B]Bull Market
C]Market of Pure Metal
D]Market of Government Securities
E]None of these

Q8.Which of the following results the Devaluation of currency ?
A]Increased export and improvement in balance of payment
B]Increased export and import
C]Increased import & foreign reserve deficiency
D]Trade Deficit
E]None of these

Q9.Which of the following involves to mobilize the large part of deposits in risk free assets i.e. government securities ?
A]Islamic Banking
B]Overseas Banking
C]Offshore Banking
D]Narrow Banking
E]None of these

Q10.Which of the following is/are the function(s) of NBFC ?
A]Term Deposits
B]Equipment Leasing
C]Housing Finance & Investment in Financial Securities
D]Both of B and C
E]All of these

Q11.Which term is not used in the Finance/ Banking ?
A]Epicenter
B]Revenue
C]Consolidated Fund
D]Commercial Papers
E]None of these

Q12.RIDF is maintained by which of the following ?
A]IDBI
B]SIDBI
C]RBI
D]NABARD
E]None of these

Q13.The rise of the SENSEX results which of the following ?
A]Overall rise in prices of shares of companies registered in BSE.
B]Rise in prices of all companies belonging to U.K.
C]Overall rise in prices of shares of companies registered in NSE.
D]Rise in prices of shares of companies of America.
E]None of these

Q14.The Fiscal Policy is formulated by which of the following ?
A]Ministry of Finance
B]Planning Commission
C]Finance Commission
D]RBI
E]None of these

Q15."Where every individual is committed" is the tagline of which bank ?
A]Dena Bank
B]Oriental Bank of Commerce
C]State Bank of India
D]United Bank of India
E]Union Bank of India

Answer with Explanation

Explanation 1. A. B Pandey is the interim Chairman of Goods and Service Tax Network (GSTN) of India. GSTN is the organization which provides information portal for registration and tax returns under GST era.

Explanation 2. BSNL has joined hand with Punjab National Bank to roll out open mobile wallet. The mobile wallet sppedpay would be opened across 10 states in the country.

Explanation 3. Income that is received from public borrowings is included in the Capital Budget. It is the budget to allocate money for maintenance or acquisition of fixed assets i.e. land, equipment and buildings.

Explanation 4. NSDL stands for National Securities Depository Limited. It is the central securities depository which has the head-quarter in Mumbai. It was established in 1996 as the first Indian electronic securities depository.

Explanation 5. NABARD, IDBI, SIDBI, National Housing Bank all are the Development Bank or Non Commercial Bank. These banks are designed to give long-term and medium capital for the productive investment.

Explanation 6. Market Cost of the product includes Advertisement Cost, Factor Cost and Transportation cost. It is the total cost which is associated with the delivery services or goods to the customers.

Explanation 7. Market of Government Securities denotes the Gilt - Edged market.

Explanation 8. Increased export and improvement in balance of payment causes the Devaluation of currency. In latest monetary policy, the devaluation is the official lowering of value of the currency of a country within the fixed exchange rate by which monetary authority sets new fixed rate formally.

Explanation 9. Narrow Banking involves to mobilize the large part of deposits in risk free assets i.e. government securities. The Narrow Banking can restrict banks to hold liquid and the safe Govt. bonds.

Explanation 10. NBFC stands for Non Banking Financial Company. Equipment Leasing and Housing Finance & Investment in Financial Securities are the functions of NBFC.

Explanation 11. The term Epicenter is not used in the Finance/ Banking. It is the point on the surface of the earth which is vertically above focus of earthquake.

Explanation 12. RIDF is maintained by NABARD (National Bank for Agriculture and Rural Development). RIDF stands for Rural Infrastructure Development Fund.

Explanation 13. The rise of the SENSEX results overall rise in prices of shares of companies registered in BSE.

Explanation 14. The Fiscal Policy is formulated by Ministry of Finance. It is the policy by which the government adjusts the spending levels, tax rates of it to monitor the economy of a nation.

Explanation 15. "Where every individual is committed" is the tagline of Oriental Bank of Commerce. It was a Public Sector Bank in India and Animesh Chauhan was the CEO of the bank.