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Banking Awareness Quiz for IBPS Clerks 2016 – Practice SET
1. Which of the following is the purpose of introducing ‘Know Your Customer’ norms by the banks?
(a) To bring more and more people under the banking net
(b) Identifying people who do not pay income tax
(c) To ensure that the money deposited in banks has come from genuine sources.
(d) To ensure whether the money deposited in the bank is an India or a foreign national
2. Which of the following acts is specially launched to facilitate banks in recovery of bad loans?
(a) RBI Act
(b) Banking Regulation Act
(c) Companies Act
(d) Income Tax Act
(e) SARFAESI Act.
3. Whenever somebody needs foreign currency against Indian Rupee, banks give an equivalent amount of desired currency based on prevalent?
(a) Base Rate
(b) Currency Rate
(c) Exchange Rate.
(d) Policy Rate
4. Which one of the following does not qualify as priority sector lending by commercial banks?
(a) Small business loans
(b) Education loans
(c) Corporate loans
(d) Small loans to rural educated unemployed
5. Many banks in India these days are offering M-Banking Facility to their customers. What is the full form of M in M-Banking?
(a) Mutual Fund
6. Which of the following is the popular name of the norms by which a bank satisfies itself about the customer’s identity and activities?
(a) Basel Norms
(b) KYC Norms
(c) Service norms
(d) Lending norms
7. NonPerforming assets are cause for serious concerns for banks. Why are these loans known as on -performing?
(a) Recovery of Bank’s Funds are difficult
(b) Interest on these accounts
(c) Banks have to make provision for the loans on their balance sheet
(d) All of the Above.
8. The Banks recover term loans from the parties in EMIs. What the letter ‘E’ represents in , the term?
9. In which of the following fund transfer mechanisms, can high amount (min. 1 lakh) funds be moved from one bank to another and where the transaction is settled instantly without being bunched with any other transaction?
10. Which of the following is certainly is an effort in the direction of Financial Inclusion?
(a) Internet Banking
(b) Anywhere Banking
(c) No-Frills Accounts.
(d) Foreign Currency Accounts