GK UPDATES FOR BANKING EXAMS

1. What is the full form of UIP?

Answer: Universal Immunisation Programme

2. Expand FICCI.

Answer: Federation of Indian Chambers of Commerce & Industry

3. The Reserve Bank of India has cancelled the certificate of registration of how many NBFCs.

Answer: 56

4. Expand MUDRA.

Answer: Micro Units Development and Refinance Agency

5. The Indian Navy Day is celebrated on which date?

Answer: 4th Dec

6. The Reserve Bank of India (RBI) announced revised Priority Sector Lending (PSL) norms for Regional Rural Banks (RRBs). Among other things, the PSL target was increased to __________ of total outstanding from the existing ___________ . The revised target will be effective from 1 January 2016.

Answer: 75%, 60%

7. Chief Economic Advisor Dr Arvind Subramanian led Committee has recommended standard rate for Goods and Services Tax (GST) at ______ to ________ percent.

Answer: 17, 18

8. On which date does the International Volunteer Day is globally observed?

Answer: 5th December

9. __________ has become the first state in the country to start Rotavirus vaccination project under the UIP.

Answer: Himachal Pradesh

10. Recently one of the Indian state launched International festival on Birds in a bid to promote state as an international bird-watching destination. Name the state and it's Chief Minister.

Answer: Uttar Pradesh, Akhilesh Yadav.

Banking Quiz For IBPS Exam

1. The Basic Committee has defined capital in two Tiers (Tier-I andTier-II). Tier-I capital is known as 

(a) Net capital

(b) Gross capital

(c) Working capital

(d) Core capital

(e) None of these

2. Tier-II capital consists of

(a) undisclosed reserves and cumulative perpetual preference shares.

(b) general provisions, loss reserves and revaluation reserves.

(c) subordinated debt, hybrid debt capital instruments.

(d) All of the above

(e) None of the above

3. The main objective of Land Development Bank is:

(a) Providing investment credit for agriculture.

(b) Providing crop loans to the farmers.

(c) Developing allied activities in rural and semi-urban areas.

(d) Creating good social relations in the residents of rural and semi-urban areas.

(e) None of the above

4. Who issues treasury bills?

(a) Reserve Bank of India, as the agent of the Central Government

(b) Any govt. deptt. of state and central

(c) Any Commercial Bank

(d) All of the above p

(e) None of the above

5. Commercial paper

(a) fully secured instrument

(b) unserved money market instrument

(c) partly secured paper

(d) All of the above

(e) None of the above

6. Bill of Exchange, Promissory Notes and Cheques are defined as

(a) Negotiable Instruments

(b) Trust Receipts

(c) Documents of Title to goods

(d) None of the above

(e) Stamped Instruments

7. Which of the following do not enjoy scheduled bank status with RBI?

(a) State co-operative banks

(b) Regional rural banks 

(c) Foreign banks in India

(d) District Cooperative banks

(e) None of these

8. The Reserve Bank of India has decided to help banks, as a temporary measure, by providing additional liquidity support under LAF. What is the full form of LAF?

(a) Loan Adjustment Fund

(b) Liquidity Adjustment Facility

(c) Long Awaited Funds

(d) Loan Against Funds

(e) None of these

9. Consider the following statements:

1. Increase in deposit rate results in higher savings

2. Increase in deposit rate results in fall in credit off takes 

3. Increase in deposit rate results in increase in investment
which among the above statement/statements is /are correct?

(a) 1 & 2

(b) 1 & 3

(c) 1, 2 & 3

(d) Only 2

(e) None of these

10. Which of the following is a measure of ‘narrow money’ in India?

(a) M0

(b) M1

(c) M2

(d) M3 

(e) M4

1.             D

2.             D

3.             A

4.             A

5.             B

6.             A

7.             d

8.             b

9.             b.

10.          b.

Banking awareness questions on current affairs

Banking awareness questions on current affairs 1)   Who was the first governor of RBI? a. James Braid Taylor b. Mihir Sen c. Nagendra Singh d. Osborne Smith

2)   What does RBI regulate through Open Market Operation Transactions? a. Flow of Foreign Direct Investment b. Borrowing powers of the banks c. Inflation d. Liquidity in economy

3)   What is the most powerful tool used by the Reserve Bank of India to control inflation? a. Raise interest rates b. Raise current supply c. Reduce current supply d. Reduce interest rates

4)   Under whose chairmanship did RBI constitute a Working Group for making balance of payments manual? a. Anand Sinha b. Deepak Mohanty c. Harun Rashid Khan d. Kamalesh Chandra Chakrabarty

5)   Who regulates monetary policy? a. IRDA b. RBI c. SEBI d. SIDBI e. Finance Ministry

6)   Who was the first Indian Governor of RBI? a. C. D. Deshmukh b. Benegal Rama Rau c. R. K. Shanmukham Chetty d. K. G. Ambegaonkar

7)   Which is a tool that helps RBI to stabilize money supply and prices of Government securities? a. EOQ b. EPQ c. JIT d. OMO Ans 1. d    2. d   3.  a.   4.  b   5.  b   6  a  7.  d

     General Knowledge : Questions Answers : Banking Awareness

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1.

What is/are the main functions of RBI?

(i). Notes Issuance.
(ii). Government's Banker.
(iii). Banker's Bank.
(iv). Bank's Supervision.

   A. Only (i)

   B. Both (ii) and (iii)

   C. Both (iii) and (iv)

   D. All of these.

Answer: Option D

Explanation:

Reserve Bank of India (RBI) is the supreme banking authority of India. All the public & private sector banks or any financial institution in India are controlled by RBI.

RBI is responsible for issuing, exchanging or destroying of currency.

RBI acts as a merchant banker for the Central and State Government. RBI maintains all the banking accounts of the scheduled banks.

RBI operate all the financial and banking operations in India.

2.

In India, Micro finance development and Equity fund is maintained by-

   A. Small industries development Bank of India(SIDBI).

   B. RBI(Reserve bank of India).

   C. Nabard(National bank for Agriculture and rural development).

   D. CII(Confederation of industries in India).

Answer: Option A

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3.

Which are the following rates are decided by the RBI is called "Policy Rate"?

   A. Cash reserve ratio.

   B. Lending rate.

   C. Bank rate.

   D. Deposit rate.

Answer: Option A

Explanation:

Cash reserve ratio (CRR) is the funds that all the scheduled bank have to maintain with RBI, the supreme banking authority of India. By increasing the CRR RBI drain out excessive funds from the scheduled banks.

Example: Suppose the CRR is 5% . A person/customer open a Savings bank account with Rs. 10,000 in Punjab National Bank. So now Punjab National Bank has to park Rs. 500 to Reserve Bank of India (RBI) as per the CRR rate.

5% of 10,000 = 500 (CRR= 5%).

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4.

As per newspaper report,one of the major public sector banks sold out its RS> 500 Cr. loan to IIFCL. This type of buying and selling of loans in banking sector is popularly known as,

   A. Teaser rate financing.

   B. Take out financing.

   C. Infrastructure financing.

   D. Development financing.

Answer: Option B

Explanation:

Take out financing is a kind of long term financing by the banks. Like 15-20 years. It is also called as 'Take out Loan'. Usually Take out financing is  used for real property and commercial purposes.

5.

'kfw' group released another installment of its financial aid to India.'kfw' is an organisation/bank base in;

   A. France.

   B. Japan.

   C. Germany

   D. China.

Answer: Option C

Explanation:

'Kfw' is financial and banking group of Germany. It is Government owned group/bank founded on 1948.

                                                             

         

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