Banking Awareness Questions and Answers for IBPS | SBI Clerks | SBI POs Exams

1. The  Full  Form  of  GAAR  is  :  ?
Answer ::   General  Anti  Avoidance  Rules

2.Minimum  and Maximum  limits  for  RTGS?
Answer ::   Minimum  2 Lakh, Maximum  No Limit

3. What  is  a  Prime  Lending  Rate  ?
Answer ::   The  rate  at  which  banks  lend  to  their  best  (prime)  customers.  It  is  usually  less  than  normal interest  rate.

4. Define  Call  Money?
Answer ::   When money  is  borrowed  or  lent  for  a  day, it  is  known as  Call  (Overnight)  Money

5. Cheque  is  a  ___ instrument?
Answer ::   Negotiable

6. Full Form  of  ATM?
Answer ::   Automated  Teller  Machine

7. IFSC  code  consist  of  _____  character?
Answer :: 11

8. CRISIL  is  a?
Answer :: Credit  rating  agency

9. The  extended date  for  pre2005 bank  notes?
Answer :: 31.12.2015

10. Who is  the  president  of  BRICS
Answer :: K.V.  Kamath

11. Define  Self  Cheque?
Answer :: A self  cheque  is  written  by  the  account  holder  as  pay  self  to  receive  the  money  in  the  physical form  from  the  branch  where  he  holds  his  account

12. What  is  an open Market  Operations?
Answer :: An  open  market  operation  is  an instrument  of  monetary  policy  which  involves  buying  or selling  of  government  securities  from  or  to the  public  and banks

13. Define  Endorsement?
Answer :: When a  Negotiable  Instrument  contains, on the  back  of  the  instrument  an endorsement, signed by  the  holder  or  payee of  an  order  instrument,  transferring  the  title  to  the  other  person,  it  is called  endorsement

14. Is  there  any  minimum  and maximum  cash withdrawal  limit  per  day?
Answer :: Yes  broadly  the  withdrawal  limits  are  set  by  the  card  issuing  banks.  This  limit  is  displayed  at th e  respective  ATM  locations.

15. What  is  the  full  form  of  NPS?
Answer :: National  Pension Scheme

16. NBFC deals  in?
Answer :: Providing  banking  services

17. Who is  the  author  of  the  book  My  years  with Rajiv  and  Sonia?
Answer ::   R.D. Pradhan

18. The  Mutual  funds  in India  follow  accounting  standards ?
Answer ::   SEBI

19. Interest  on savings  account  is  calculated  on which basis?
Answer ::   Daily  basis

20. What  is  the  full  form  of  IFSC?
Answer ::   Indian Financial  System  Code

21. SBI  launched minor  a/c  for  children above  10 years  named as?
Answer ::   Pehli Udaan

22. Mutual  funds  regulated by?
Answer ::   SEBI

23.Full  form  of  GSLV?
Answer ::   Geo Synchronous  Launch  Vehicle

24. SEBI  is  which kind  of  body?
Answer ::   Market  Regulating  Body

25. There  are  how  many  digits  in MICR?
Answer ::   9

26. What  is  recession?
Answer ::   A  period  of  temporary  economic successive  quarters

27. decline,  generally  identified  by  a  fall  in  GDP  in  two BSBDA stands  for?
Answer ::   Basic  Savings  Bank  Deposit  Account

28. RBI  established and nationalized  in?
Answer :: Established  in 1935, Nationalized  in 1949