Banking & Economy Quiz for IPPB,NIACL AO : Set – 123

banking & economy QuizIBPS & RRB PO & Clerk 2016 Exams are about to come and aspirants, as you know Banking awareness is important for getting a good score in . Thus, we are sharing with you practice questions of Banking Awareness to help you prepare better for the forthcoming exam. You can easily steal 5-6 numbers by remembering these and can enhance your probability of getting selected in the exam. 

Solve the below Quiz and Share your score into the comment section

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Leaderboard: Banking Exams : Economics Awareness Quiz Set - 123

maximum of 10 points
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  • Abhishek Pavan

    What is the main aim in creating PAYMENT BANKS ?

    • Abhilasha

      Financial inclusion 😀

      • Abhishek Pavan

        Then commercial are not driving finnancial inclusion ?

        • Abhilasha

          They too
          Bt ths payment bank provides serivices where small bank n rrbs nt prsnt
          Or also fr low income group and fr thr business

    • ALISA(Ubiquitous::)

      Available banking services everywhere at affordable costs.. Main reason financial inclusion hi hai;p

      • Abhishek Pavan

        small banks ?

        • gomathy priya

          how was ur kvb?

          • Abhishek Pavan

            super yours

          • gomathy priya

            attempted only 164.u?

          • Abhishek Pavan

            191

          • gomathy priya

            superb. wat may be the expected cutoff?

          • Abhishek Pavan

            dnt knw 150+

        • ALISA(Ubiquitous::)

          Google;p

  • Abhilasha

    Bht kam marks h 😐

    • ALISA(Ubiquitous::)

      Same:(

    • ravi

      kitna hai??

  • gomathy priya

    gud morn bm

  • ALISA(Ubiquitous::)

    Important Points about “”Payment Banks””
    Must read…. :) :) :)
    Q–How payment banks am different from regular banks?
    Ans:-These banks can only receive deposits and remittances but cannot carry out le-nding activities. Aiming at financial inclusion, these banks will provide banking services to migrant labour-ers, low income households, etc. 

    _____________________________
    What is the maximum amount that can be saved under payment bank account? 
    Ans:- The maximum deposit that a payment bank can accept from an individual customer is Rs 1 lakh.
    _________________________________
    Can a credit card be issued under this scheme ? 
    NO
    _________________________________
    Can a payment bank can issue a debit and ATM cards for easy transactions ? 
    Ans:- YES
    _________________________________
    What is the amount of loan that can be sanctioned by a payment bank ? 
    Ans:- No Loan facility . The Reserve Bank has clearly stated that a payments bank cannot undertake any lending activity. 
    _________________________________
    Is it safe to save money with a payment bank ? 
    Ans:- YES. Besides normal “CRR” (Cash Reserve Ratio) to be maintained with the RBI, a payments bank will be required to invest 75% of its demand deposit balances in Statutory Liquidity Ratio (SLR) eligible government securities and treasury bills. Further, a maximum of 25% will have to be held in current and fixed deposits with other scheduled commercial banks.

    ________________________________
    What is the capital required for opening payments pay ? 
    Ans:- Rs 100 crore
    __________________________________
    Who led the committee on Comprehensive Financial Services for Small Businesses and Low Income Households formed in 2013 ? 
    Ans:- Nackiket Mor
    ___________________________________
    Who all got licenses : 
    Ans:-
    ~Aditya Birla Nuvo
    ~Airtel M Commerce
    ~Vodafone m-pesa
    ~Tech Mahindra
    ~Vijay S Sharma of Paytm
    ~Dilip Shanghvi of Sun Pharma
    ~Reliance Industries
    ~NSDL
    ~Fino PayTech
    ~Cholamandalam Dist and Depart-ment of Posts.
    __________________________________
    When the operations are likely to start ? 
    Ans:- The companies selected will be given “in-principle” approval for 18 months, after which they will be given licences if they fulfil all conditions stipulated by the RBI.

    • Bighneswar

      Thank you :)))

  • gomathy priya

    Results
    6 of 10 questions answered correctly

    Your time: 00:01:58

    You have reached 6 of 10 points, (60%)

  • @$%#

    A man
    ordered 4 pairs of black shoes and some pair of brown shoes. The price of black
    shoes is twice to that of brown shoes. While preparing the bill the clerk
    interchanged the number of black and brown pairs of shoes by mistake, which
    increase the bill by 40%. What is the total number of black and brown shoes?

    a)
    12

    b)
    16

    c)
    14

    d)
    10

    e)
    18

    • ALISA(Ubiquitous::)

      Ans?:(

      • @$%#

        12, i don’t know the method :(

        • ALISA(Ubiquitous::)

          OK ;(

  • @$%#

    A
    dishonest trader marks up his goods by 80% and gives a discount of 25%.
    Besides, he gets 20% more amount per kg from a wholesaler and sells 10% less
    per kg to customers. What is the overall profit percentage?

    a)
    82%

    b)
    76%

    c)
    78%

    d)
    75%

    e)
    80%

  • Abhishek Pavan

    Differnce between BANK rate and BASE rate ?

    • anu

      Bank rate. .. Rate at which rbi lends long term money to banks
      Base rate…. . Rate set by rbi below which banks r not allowed to lend to its customers

      • Abhishek Pavan

        Base rate is decided by individual not rbi

        • anu

          No… By rbi.. A ceiling is fixed
          Banks can lend to its customers at that rate or higher than that… But not lower than that rate

          • Abhishek Pavan

            Yes but Some mods told that base is decided by indivi

      • Abhishek Pavan

        Diffrnce between bank rate and repo rate ?

        • optimistic

          Bank rate – long term
          Repo date- short term

        • Martin Garrix

          repo- short term
          bank-long term
          repo-collateral based
          bank-colateral free loan

          • Abhishek Pavan

            Oh in repo rbi willl lend money under collateral but in bank rate it will lend simply ?

          • Martin Garrix

            yes but in repo u cant use slr quota securities and in msf u can use slr quota sec.

        • anu

          Repo rate… Short term lending
          Bank rate for long term

          • Abhishek Pavan

            Ok In case of repo banks dont need to keep securities in rbi ?
            In case of bank rate banks need to keeep securities in rbi ?

  • Abhishek Pavan

    What is the meaning of authorised capital and issued capital ?

    • anu

      Issued capital is the amount issued by any company to its shareholders
      Authorised means the maximum capital a company can issue

  • ALISA(Ubiquitous::)

    Banking awards 2016 :-

    *Hellen Keller Awards 2016- SBI
    *Rajbasha award – Punjab national Bank
    *Raj basha kirti purshkar – Central bank
    *Assocham SKOCH award – Corporation bank
    * Best MSME award in public sector – corporation bank
    * Best SME Bank – vijaya bank
    * Best MSME in private sector – Karnataka bank
    * IBA banking technology award – Union Bank
    * IBA banking technology in private – Karnataka bank
    *IBA best bank in private – YES bank
    *Best bank in brands – bank of Baroda
    *Emerson cup 2016 – ICICI
    *Duns brand street corporate award – HDFC
    *Best bank for cyber defence – YES bank
    *Euro money award for excellence – HDFC
    *ASIA money best domestic bank – Axis Bank

  • @$%#

    On what
    sum of money will the CI of 2 years be the same as the SI on rs. 416 for 10
    years, the rate of interest being 8% pa.?
    Share ur methods

    • Pheonix

      1000

    • Pheonix

      416*10*8/100=166.4
      so
      80
      80…6.4

      one year interest 80
      x*8/100=80
      x=1000

  • gomathy priya

    what is the difference between authorised capital and paid up capital?or both are same?

    • @$%#

      Paid-up capital (also called issued and fully paid-up capital) means the number of shares that have been issued and actually paid for by shareholders. … Authorized capital is the maximum amount of capital which a company can raise through sale of its shares.

      • gomathy priya

        ty.

    • anu

      Issued capital is the amount issued by any company to its shareholders
      Authorised means the maximum capital a company can issue…

      • gomathy priya

        ty

        • anu

          Wc :))

  • Vivek A

    Good Morning Fnrdsss…

  • ronnie (honey)

    Eight friends A, B, C, D, E, F, G and H are sitting around a circular table facing the centre, but not necessarily in the same order. Each of them is learning a different course, viz MBA, MCA, BTech , CA, CS, BCom, Finance and MTech.
    There are two persons between those who study MCA and MBA and neither of them sits opposite A. C and G are immediate neighbors and neither of them studies MTech or MBA. A, who studies Finance, sits second to the right of the one who studies MTech. B and E neither study MTech nor sit adjacent to A. E studies MBA and sits second to the left of G, who studies CA. C does not study MCA.
    The immediate neighbor of E faces C, who sits third to the left of the one who studies Finance. F does not study MTech. Both D and H do not study MCA and BTech. B studies BCom while D studies CS. B is not an immediate neighbor of A.

    • RAVI_SRIVASTVA

      clockwise
      A(FIN) F(MCA) H(M.Tech) C(B.Tech) G(CA) B(B. com.) E(MBA) D(CS)

      • ronnie (honey)

        yes

  • gomathy priya

    The quantitative measures of credit control are :

    Bank Rate Policy: The bank rate is the Official interest rate at which RBI rediscounts the approved bills held by commercial banks.
    . Open Market Operations: OMO The Open market Operations refer to direct sales and purchase of securities and bills in the open market by Reserve bank of India. The aim is to control volume of credit.
    Cash Reserve Ratio: Cash reserve ratio refers to that portion of total deposits in commercial Bank which it has to keep with RBI as cash reserves.
    Statutory Liquidity Ratio: It refers to that portion of deposits with the banks which it has to keep with itself as liquid assets(Gold, approved govt. securities etc.) . If RBI wishes to control credit and discourage credit it would increase CRR & SLR.
    Qualitative measures:
    Qualitative credit is used by the RBI for selective purposes. Some of them are
    Margin requirements: This refers to difference between the securities offered and and amount borrowed by the banks.
    Consumer Credit Regulation: This refers to issuing rules regarding down payments and maximum maturities of installment credit for purchase of goods.
    Guidelines: RBI issues oral, written statements, appeals, guidelines, warnings etc. to the banks.
    Rationing of credit: The RBI controls the Credit granted / allocated by commercial banks.
    Moral Suasion: psychological means and informal means of selective credit control.
    Direct Action: This step is taken by the RBI against banks that don’t fulfill conditions and requirements. RBI may refuse to rediscount their papers or may give excess credits or charge a penal rate of interest over and above the Bank rate, for credit demanded beyond a limit.

  • Vivek A

    @Risty Ritesh….English Quiz???

    • RiStY RiTeSh

      Its going on On every 1 minute kindly refresh .. Disqus is not working properly..

  • Abhishek Pavan

    DISQUS not working properly ?:/

  • RiStY RiTeSh

    Gd mrng !!
    I can’t see any1 comments

    • optimistic

      Gm mate

    • Vivek A

      GM :))

    • Pheonix

      good morning:)

    • Abhilasha

      Gm wee too ;p

  • RiStY RiTeSh

    So Lets start …

  • RiStY RiTeSh

    1. National Payments Corporation of India (NPCI) has rolled out Unified Payments Interface (UPI), a mobile payment solution which has the potential to revolutionise the payment system in the country. UPI does not require a specific bank account unlike existing players which offer the product to only those who have an account with them, thus significantly increasing the pool of customers UPI could tap into, compared to banks which have a limited universe of customers. ______________________________

    A) According to a World Bank report, only 53 per cent of the Indian population or 636 million people have bank accounts, while close over 1,000 million have mobile phone
    B) National Payments Corporation of India said the UPI app will be available in next two to three working days for the customers to download and start using
    C) Andhra Bank, Axis Bank, Bank of Maharashtra, Canara Bank, DCB Bank, Federal Bank, ICICI Bank, Oriental Bank of Commerce, Karnataka Bank, UCO Bank, Union Bank of India, United Bank of India, Punjab National Bank are some of the banks that have joined the UPI platform.
    D) Infosys co-founder Nandan Nilekani has been an adviser to NPCI on the UPI project.
    E) Reserve Bank of India Governor Raghuram Rajan in April this year had soft-launched the new payment mechanism and it has been on a pilot run since then.

    • RiStY RiTeSh

      BB

    • optimistic

      Bb

    • Pheonix

      a/d??

  • RiStY RiTeSh

    2. RBI has said it would seek legal changes to enable banks to pledge corporate bonds as collateral when borrowing funds from its overnight repo window. ________________________________Besides, the RBI said it would allow entities exposed to foreign currency risk to hedge up to $30 million.

    A) It will also allow banks to issue rupee-denominated perpetual debt instruments overseas, which would qualify for inclusion as additional Tier 1 and Tier 2 capital.
    B) The report follows a list of proposed changes released by Securities and Exchange Board of India (SEBI) last week.
    C) India-Pakistan ties touched a low after a raging controversy emerged after Rajnath Singh’s two-day visit to Pakistan earlier this month.
    D) India had strongly objected to Pakistan”s “restrictive approach” in denying visas to Indian journalists to cover the Saarc Home/Interior Ministers’ conference.
    E) As part of a series of steps to deepen fixed income and currency markets, the Reserve Bank of India (RBI) also said it would amend its regulations shortly to allow foreign investors to transact in corporate bonds directly.

    • RiStY RiTeSh

      A/E
      E CORRECT

    • optimistic

      AA

    • anu

      Eee

  • RiStY RiTeSh

    3. Instead of the finance minister Mr Arun Jaitley, Mr Shaktikanta Das is attending the two-day Saarc (South Asian Association for Regional Cooperation) meet of Finance Ministers at Islamabad._________________________. Apart from Jaitley, Bangladesh Finance Minister Abdul Maal Abdul Muhith is also missing from the Saarc meet, Pakistan’s Daily Times reported.

    A) The two-day FMs meet is being held at Islamabad from 25th of August
    B) India-Pakistan ties touched a low after a raging controversy emerged after Rajnath Singh’s two-day visit to Pakistan earlier this month.
    C) India had strongly objected to Pakistan”s “restrictive approach” in denying visas to Indian journalists to cover the Saarc Home/Interior Ministers’ conference.
    D) It is of great significance to JNPT and will give a boost to the country’s economy
    E) This evacuation corridor would help in supporting the EXIM trade besides providing economic opportunity to the local and region.

    • RiStY RiTeSh

      AA

    • optimistic

      Aa

    • Vivek A

      ccc

    • Pheonix

      aa??

  • RiStY RiTeSh

    _____________________________IOC will be the second state-owned oil company after Hindustan Petroleum Corp Ltd (HPCL) to consider issuing bonus shares following a government directive. HPCL board had last month approved issuing two bonus shares of Rs 10 each for every existing one.

    A) IOC is India’s largest commercial enterprise, with a sales turnover of Rs 3,99,601 crore (USD 61 billion) and profits of Rs 10,399 crore (USD 1.58 billion) for the year 2015-16.
    B) It is ranked 161st among the world’s largest corporates (and first among Indian companies) in the prestigious Fortune ‘Global 500’ listing for the year 2016.
    C) The government owns 58.28 per cent stake in IOC, which controls nearly half of India’s fuel market, 35 per cent national oil refining capacity and 71 per cent of downstream sector pipelines.
    D) IOC owns and operates 11 of India’s 23 refineries with a combined refining capacity of 80.7 million tonnes per annum as well as a pipeline network spanning about 11,750-km
    E) The board of IOC will meet on August 29, “to consider issue of Bonus Shares,” the company said in a regulatory filing.

    • anu

      Ee

    • RiStY RiTeSh

      EE

    • the fighter

      ee

    • optimistic

      Skip.a/d

    • Abhilasha

      Ee

    • Pheonix

      ee

    • Abhilasha

      I was waiting in new post
      U r conducting here :/

  • RiStY RiTeSh

    5.____________________. Select members of the public will be able to hail a free ride through their smartphones in taxis operated by nuTonomy, an autonomous vehicle software startup. While multiple companies, including Google and Volvo, have been testing self-driving cars on public roads for several years, nuTonomy says it will be the first to offer rides to the public.

    A) The world’s first self-driving taxis will be picking up passengers in Singapore starting 25th of August
    B) Earlier this year, the company was the first to win approval from Singapore’s government to test self-driving cars in one-north. NuTonomy announced a research partnership with Singapore’s Land Transport Authority earlier this month.
    C) Singapore is ideal because it has good weather, great infrastructure and drivers who tend to obey traffic rules, Iagnemma says.
    D) Auto supplier Delphi Corp., which is also working on autonomous vehicle software, was recently selected to test autonomous vehicles on the island and plans to start next year.
    E) The technology is supposed to reduce the number of Taxi’s from 9,00,000 to 3,00,000 in Singapore.

    • Vivek A

      bbbb

    • RiStY RiTeSh

      AA easy

    • anu

      Bbb

    • optimistic

      BB?

    • the fighter

      aaa

  • RiStY RiTeSh

    6.Under the Basel-III norms, AT-1 bonds come with loss absorbency features, meaning that in case of stress, banks can write off such investments or convert them into common equity if approved by the RBI (Reserve Bank of India). AT-1 bonds qualify as core or equity capital.

    a) Following which

    b) As

    c) Apparently

    Pick out the option which when used to start a sentence combines both the above sentences in one.

    A) Only a
    B) Only b
    C) Only c
    D) Only a and b
    E) None of the above

    • Pheonix

      bbb

    • anu

      Cc

    • Abhilasha

      Aa

    • RiStY RiTeSh

      C) Only c

  • Abhishek Pavan

    I am unable to see comments ?

    • Abhilasha

      F5 krte rho

      • Abhishek Pavan

        From that time I am doing I think not workng disqus

        • Abhilasha

          Ha nt working properly :(

  • Pheonix

    unable to see comments

  • RiStY RiTeSh

    7.Leading bourse NSE on Tuesday cautioned investors against falling prey to stock tips circulated through SMSes and social media platforms like WhatsApp. In a notice, the exchange also asked brokers to advise their clients not to blindly follow unfounded rumours and tips and invest in securities only after conducting appropriate analysis of respective companies.

    a) To which

    b) Further

    c) Thus

    Pick out the option which when used to start a sentence combines both the above sentences in one.

    A) Only a
    B) Only b
    C) Only c
    D) Only b and c
    E) All

    • Abhilasha

      Dd

    • the fighter

      bb

    • anu

      Aa

    • RiStY RiTeSh

      B) Only b :/

  • the fighter

    any one there/////////

  • Abhishek Pavan

    In case of repo rate banks don’t need to keep securities in rbi ?
    In case of bank rate banks need to keep securities in rbi ?

  • RiStY RiTeSh

    8.He is at present Special Director in the ED. He got third extension in August this year to hold the additional charge of the post of ED chief for six months.

    a) But earlier

    b) As

    c) As of no

    Pick out the option which when used to start a sentence combines both the above sentences in one.

    A) Only a
    B) Only b
    C) Only c
    D) Only a and b
    E) None of the above

    • the fighter

      aaa

    • Abhilasha

      Aa

    • RiStY RiTeSh

      D) Only a and b

    • Pheonix

      aaa

    • anu

      Bb

    • kittu….

      BBBBBB

  • the fighter

    :) good morning bro:)

  • the fighter

    guys used embedded link :)
    and good morning:)

  • Abhilasha

    Ye mjhe 20 min purane coment new coment b q dkhre ab :/

    • the fighter

      muje 19 mint phle:)

  • RiStY RiTeSh

    9.Haryana will be the first state to give the benefit of 7th Central Pay Commission (CPC) to its employees with effect from January 1, 2016, Chief Minister Manohar Lal Khattar said today. The Chief Minister said that the state government has decided in principle to grant the benefit of revised pay package to its employees.

    a) Where in

    b) Not only

    c) Also

    Pick out the option which when used to start a sentence combines both the above sentences in one.

    A) Only a
    B) Only b
    C) Only c
    D) Only a and b
    E) Only a and c

    • the fighter

      ccc

    • anu

      Aa

    • Abhilasha

      Cc

    • Pheonix

      ccc

    • RiStY RiTeSh

      C) Only c

  • the fighter

    :)

  • Abhishek Pavan

    Bsbda and small accounts bothare same ?

    • Abhilasha

      No different

      • Abhishek Pavan

        Hmmm what is the differnces then ?

        • Abhilasha

          Chk in ep they gave nice explanation

        • Abhilasha

          Small acount me document k zaroort nai hoti Normaly kholskte fr short span of time
          Dono ki limts m differenc hota max balanc or transactn

  • the fighter

    • Reply•Share ›

    Avatar
    @$%# • 40 minutes ago
    On what
    sum of money will the CI of 2 years be the same as the SI on rs. 416 for 10
    years, the rate of interest being 8% pa.?
    Share ur methods
    • Reply•Share ›
    Avatar
    Pheonix @$%# • 32 minutes ago
    1000
    • Reply•Share ›
    Avatar
    Pheonix @$%# • 27 minutes ago
    416*10*8/100=166.4
    so
    80
    80…6.4

    one year interest 80
    x*8/100=80
    x=1000

  • RiStY RiTeSh

    10.The Gambia has become the latest African nation to announce its withdrawal from the International Criminal Court, accusing the war crimes tribunal of “persecuting” Africans. The shock move announced late yesterday was condemned by rights groups as a “drastic blow” for victims of serious crimes across the world.

    a) Hence

    b) Also

    c) Consequently

    Pick out the option which when used to start a sentence combines both the above sentences in one.

    A) Only a
    B) Only b
    C) Only c
    D) Only a and b
    E) None of the above

    • the fighter

      ee

    • RiStY RiTeSh

      C) Only c

    • praise

      cc

    • anu

      Cc

    • Adorable Princess

      dd

  • ” A@rohi ” :))))
    • RiStY RiTeSh

      Thankss

  • the fighter

    discus pagal ho gya h hahhahaha
    40 mint ka comment
    • Reply•Share ›

    Avatar
    @$%# • 40 minutes ago
    On what
    sum of money will the CI of 2 years be the same as the SI on rs. 416 for 10
    years, the rate of interest being 8% pa.?
    Share ur methods
    • Reply•Share ›
    Avatar
    Pheonix @$%# • 32 minutes ago
    1000
    • Reply•Share ›
    Avatar
    Pheonix @$%# • 27 minutes ago
    416*10*8/100=166.4
    so
    80
    80…6.4

    one year interest 80
    x*8/100=80
    x=1000

  • RiStY RiTeSh

    okkkk :)

  • the fighter

    koi h????????///

  • Abhilasha

    ??

  • RiStY RiTeSh

    Come on New page..

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