Banking Awareness Questions for IBPS PO and Clerk | 19th October 2018

Dear Aspirants,

Banking Awareness for IBPS PO and Clerk Exam 2018

With the increased competition in the field of banking examinations, it has now become very important to cover up all the sections efficiently. One subject that can help you bagging graceful marks in the minimum time in these examinations is Banking Awareness. Banking Awareness Quiz not only helps you deal with the General Awareness Section of Banking Exams but also, the Personal Interview round of Banking Recruitment.

Q1. DBOD is entrusted with the responsibility of regulation of commercial banks under the regulatory provisions contained in the Banking Regulation Act, 1949 and RBI Act, 1934 besides enunciation of banking policies. What is the full form of DBOD?
(a) Department of Banking Operations & District
(b) Department of Banking Operations & Development
(c) Department of Banking Operations & Division
(d) Department of Branches Operations & Development
(e) Department of Banking Order & Development

Q2. The functions of DBOD is broadly relate to prescription of regulations for compliance with various provisions of Banking Regulation Act on establishment of banks such as-
(a) Investments and loans
(b) Maintenance of statutory liquidity
(c) Issue of guidelines on Prudential Norms relating to Capital Adequacy
(d) Management and operations
(e) All of the given options is true

Q3. CFRA is a unique document that incorporates comparable information relating to the accounts of the Union and all the States for a year, together with their balances and outstanding liabilities and other information relating to the financial health of the Union and the States. CFRA stands for-
(a) Combined Finance and Revenue Accounts
(b) Common Finance and Revenue Accounts
(c) Combined Funding and Revenue Accounts
(d) Combined Finance and Review Accounts
(e) Combined Finance and Revenue Agency

Q4. The CGRA is the unrealized gain/loss in the value of gold and foreign exchange RBI holds based on movements in their value which is not considered in the income account but taken as a balance-sheet item. What is the full form of CGRA?
(a) Currency and Gold Revaluation Amount
(b) Currency and Gold Registration Account
(c) Current and Gold Revaluation Account
(d) Currency and Gold Revaluation Account
(e) Convertible and Gold Revaluation Account

Q5. The __________________________ has the responsibility of administering the functions of currency management, a core function of the Reserve Bank in terms of the Reserve Bank of India Act, 1934.
(a) Derivative of Currency Management
(b) District of Currency Management
(c) Department of Currency Management
(d) Department of Currency Manager
(e) Department of Current Management

Q6. IndusInd Bank Limited is a _____________ based Indian new generation bank, established in 1994.
(a) Bengaluru
(b) Mumbai
(c) Chennai
(d) Kolkata
(e) New Delhi

Q7. The City Union Bank Limited is an Indian bank. Where is the Headquarters of City Union Bank Limited?
(a) West Bengal
(b) Maharashtra
(c) Kerala
(d) Andhra Pradesh
(e) Tamil Nadu

Q8. The Karnataka Bank Limited is a scheduled commercial banking institution based in-
(a) Mysore
(b) Bijapur
(c) Mengaluru
(d) Hubli
(e) Bengaluru

Q9. Lakshmi Vilas Bank was founded in 1926 by a group of seven progressive businessmen of Karur under the leadership of Shri VSN Ramalinga Chettiar. Where is the Corporate office of Lakshmi Vilas Bank?
(a) Chennai
(b) Karur
(c) Vellore
(d) Madurai
(e) Coimbatore

Q10. Where is the Corporate Office of Axis Bank?
(a) Surat
(b) New Delhi
(c) Chennai
(d) Mumbai
(e) Ahmedabad

Q11. The Australia and New Zealand Banking Group Limited, commonly called ANZ. It is based in-
(a) Canberra, Australia
(b) Wellington, New Zealand
(c) Sydney, Australia
(d) Auckland, New Zealand
(e) Melbourne, Australia

Q12. Where is the headquarters of Westpac Banking Corporation?
(a) New Zealand
(b) Australia
(c) Russia
(d) France
(e) Germany

Q13. Sonali Bank Limited is a state-owned leading commercial bank, based in-
(a) Myanmar
(b) Nepal
(c) China
(d) Bangladesh
(e) Pakistan

Q14. The Bank of Nova Scotia, operating as Scotiabank, is a _______________ multinational bank.
(a) Canadian
(b) American
(c) German
(d) Australian
(e) Chinese

Q15. BNP Paribas is an international banking group. BNP Paribas based in-
(a) South Africa
(b) USA
(c) France
(d) Canada
(e) Japan

SOLUTIONS

S1. Ans.(b)

Sol. The Department of Banking Operations & Development or DBOD is entrusted with the responsibility of regulation of commercial banks under the regulatory provisions contained in the B.R. Act, 1949 and RBI Act, 1934 besides enunciation of banking policies.

S2. Ans.(e)

Sol. The Department of Banking Operations & Development is entrusted with the responsibility of regulation of commercial banks under the regulatory provisions contained in the B.R. Act, 1949 and RBI Act, 1934 besides enunciation of banking policies. Its functions broadly relate to prescription of regulations for compliance with various provisions of Banking Regulation Act on establishment of banks such as licensing, branch expansion, maintenance of statutory liquidity, management and operations, amalgamation, reconstruction and liquidation of banking companies and issue of guidelines on Prudential Norms relating to Capital Adequacy, investments and loans. In order to achieve its objective, it has to maintain a flexible organizational set-up with activities in tune with the time.

S3. Ans.(a)

Sol. The Combined Finance and Revenue Accounts (CFRA) is a unique document that incorporates comparable information relating to the accounts of the Union and all the States for a year, together with their balances and outstanding liabilities and other information relating to the financial health of the Union and the States.

S4. Ans.(d)

Sol. The Currency and Gold Revaluation Account (CGRA) is the unrealized gain/loss in the value of gold and foreign exchange RBI holds based on movements in their value which is not considered in the income account but taken as a balance-sheet item.

S5. Ans.(c)

Sol. The Department of Currency Management has the responsibility of administering the functions of currency management, a core function of the Reserve Bank in terms of the Reserve Bank of India Act, 1934. Currency management essentially relates to issue of notes and coins and retrieval of unfit notes from circulation.

S6. Ans.(b)

Sol. IndusInd Bank Limited is a Mumbai based Indian new generation bank, established in 1994. The bank offers commercial, transactional and electronic banking products and services.

S7. Ans.(e)

Sol. The City Union Bank Limited is an Indian bank. The Headquarters of City Union Bank Limited is in Kumbakonam, Tamil Nadu.

S8. Ans.(c)

Sol. The Karnataka Bank Limited is a scheduled commercial banking institution based in Mangaluru in Karnataka.

S9. Ans.(a)

Sol. Lakshmi Vilas Bank was founded in 1926 by a group of seven businessmen of Karur under the leadership of Shri V.S.N. Ramalinga Chettiar. Corporate office of Lakshmi Vilas Bank is Chennai.

S10. Ans.(d)

Sol. Mumbai is the Corporate Office of Axis Bank.

S11. Ans.(e)

Sol. The Australia and New Zealand Banking Group Limited, commonly called ANZ, is the third largest bank by market capitalisation in Australia, after the Commonwealth Bank and Westpac Banking Corporation. Australia and New Zealand Banking Group Limited based in Melbourne, Australia.

S12. Ans.(b)

Sol. Westpac Banking Corporation, more commonly known as Westpac, is an Australian bank and financial-services provider headquartered in Westpac Place, Sydney (Australia).

S13. Ans.(d)

Sol. Sonali Bank Limited is a state-owned leading commercial bank in Bangladesh.

S14. Ans.(a)

Sol. The Bank of Nova Scotia, operating as Scotiabank, is a Canadian multinational bank.

S15. Ans.(c)

Sol. BNP Paribas is a French international banking group.

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