General & Banking Awareness Bits for IBPS Exams - Set 3

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Hi friends,  I am Shravan again. Here I am sharing the Set 3 questions of General and Banking Awareness taken from News Papers. You can read Set 1 from here and Set 2 from here. Happy Reading :)

1. In case of a usance bill a grace period of........ Will be allowed to calculate due date of payment.
   1. 3 days
   2. 2 days
   3. 1 day
   4. 4 days
   5. None of the above
2. In the case of FCNR accounts the payment of interest is effected in ____?
   1. Indian Rupee
   2. Only in Pound (£)
   3. Same currency in which deposit stands
   4. Yen
   5. None
3. Working capital requirement depends upon ______?
   1. Level of activity
   2. Types of business carried
   3. Nature of Production cycle
   4. All the above
   5. None
4. In which of the Acts, specimen of the cheque, bill, promissory note is given?
   1. Negotiable Instruments Act
   2. Banking Regulation Act
   3. Mercantile Law
   4. All of the above
   5. None
      
5. 18. RBI permitted CBS-enabled Cooperative Banks to issue ATM cards in tie-up with:
   1. State Bank of India
   2. Any Nationalised Bank
   3. a sponsor bank.
   4. NABARD
   5. 1 &3
6. Who headed the RBI panel that has submitted its report titled 'Data Format for Furnishing of Credit Information to Credit Information Companies'.
   1. Urjit Patel
   2. A.K.Sharma
   3. Aditya Puri
   4. R.Gandhi
   5. None of these
7. India's first post office savings bank ATM facility has been recently inaugurated in which of the following places?
   1. Chennai
   2. Bengaluru
   3. Mumbai
   4. Delhi
   5. None of these
8. The main function of an Asset Management Company is to:
   1. hold the securities of various schemes
   2. manage the funds by making investments in various types of securities
   3. hold its property for the benefit of the unit holders
   4. act on behalf of SEBI
   5. All the above
9. Which country on 30 June 2015 became the first-ever developed economy to default on a loan with the International Monetary Fund (IMF)?
   1. Afganisthan
   2. Australia
   3. Bangaladesh
   4. Greece
   5. Canada
10. The minimum period under which a term deposit under Reinvestment Plan can be issued is____?
    1. 24 months
    2. 12 months
    3. 6 months
    4. 9 months
    5. None
11. A minor is admitted to the partnership firm as ______?
    1. Agent
    2. Partner
    3. Minor
    4. Beneficiary
    5. None
12. Which bank on 4th July 2015 became the first in the country to launch the MUDRA Card, under the Pradhan Mantri MUDRA Yojana (PMMY) scheme?
    1. Andhra Bank
    2. Bank of Baroda
    3. Central Bank
    4. Corporation Bank
    5. Union Bank of India
13. Who was named as the first Chairman of the to be opened Bandhan Bank, which announced its Board of Directors on 9th July 2015?
    1. Ashok K. Lahiri
    2. Subir Gokaran
    3. S.S.Mundra
    4. Pratik Choudhary
    5. T.S.Vijayan
14. What is the limitation of the number of persons in a joint savings bank account?
    1. Two
    2. Four
    3. Five
    4. Twenty
    5. No limit
15. After acceptance of a bill, the primary liability on a Bill of Exchange is that of ______?
    1. Payee
    2. Acceptor
    3. Drawee
    4. Endorsee
    5. All of the above
16. The full form of SREP used in Basel framework is :
    1. Standard Review and Evaluation Process
    2. Supervisory Review and evaluation Process
    3. Standardised Revision and Evaluation Practice
    4. Supervisory Review and Electronic Process
    5. None
17. In order to enable private sector banks to attract and retain professional directors, the Reserve Bank has issued guidelines on compensation for non-executive Directors for implementation by private sector banks, that will reflect market realities and will be within the parameters specified in the:
    1. Banking Regulation Act, 1949
    2. The Indian Companies Act, 2013 (Amended)
    3. RBI Act 1934
    4. As per the directives of Indian Banks Association
    5. Both a&2
18. An executor of deceased account is appointed under ______?
    1. Trust
    2. Court
    3. Will
    4. Family tradition
    5. None of the above
19. Relationship between the RBI and the bank maintaining currency chest will be of ______?
    1. Trustee and beneficiary
    2. Principal and agent
    3. Licensor and licensee
    4. Creditor and debtor
    5. None of the above
20. The Reserve Bank has advised all public sector banks and select private sector and foreign banks to appoint an internal Ombudsman. The internal Ombudsman would be designated as ______:
    1. Chief Ombudsman Service Officer
    2. Chief Customer Ombudsman Officer
    3. Internal Ombudsman Customer Service Officer
    4. Chief Customer Service Officer
    5. Chief Transaction Audit Officer

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