Banking Financial Awareness for SBI Clerks / IBPS POs

1. Which of the following is known as 'informal route' of credit in financial sector?
a) Credit cards
b) Loan against gold from bank
c) Debit cards
d) private Money lenders
e) None of these

2. What is "underwriting' in financial sector?
a) under valuation of the assets
b) the act of taking on a risk
c) Giving a guarantee that a loan will not become a bad loan
e) None of these
d) Giving cheque

3. Which of the following is not a banking finance related term?
b) EMI
a) Credit swap
c) Held to Maturity
d) diffusion
e) None

4. What is "Future Trading?
a) Business for the future
b) making profits for the future
c) It is an agreement between two parties to buy and sell an underlying asset in the future at a predetermined price
d) starting companies for future
e) None of these

5. SEZs were established with which of the following objectives?
a) To attract foreign investment directly
b) encourage local money lenders
c) encourage local traders
d) encourage local stock brokers
e) None

6. Aadhar can be linked to the existing bank account in which of the following simple ways?
a) Linking through internet banking portal
b) linking through ATM channel
c) Linking through SMS
d) linking through Branch channel
e) All the above

7. UID space) Aadhar number (space) Account Number, is a format for which purpose
a) internet connection
b) If a mobile phone number is registered with the bank then you can send SMS
c) ATM code
d) NEFT method
e) None

8. What is the concept of overdraft of Rs 5000/- in PMDY Account? Give details?
a) overdraft facility upto Rs.5000/- will be available to one account holder of PMJDY per household after 6 months of satisfactory conduct of the account.
b) To avoid duplication Aadhaar number will also be required. If Aadhaar number is not available then Bank will do additional due diligence and also seek declaration from the beneficiary
c) Overdraft facility upto Rs.5000/- is available in only one account per house hold, preferably lady of the household
e) None of these
d) All the above

9. What is PIN Number in ATMs?
a) Personal Identification Number (PIN) is randomly generated code for use of ATM Card at the time of withdrawal of money from ATM Machine and also at the time of making payment on PoS
b) Postal order number
c) Pure number
d) Private number
e) None of these

10. How to keep your RUPay Card safe?
a) Beneficiary of RUPay Card is required to keep the Card in safe custody.
b) PIN should be changed at frequent intervals and should never be shared with anyone.
c) While using the card at ATM Machine or Pos, PIN should be entered in machine very secretly so that nobody could even guess about the PIN Number.
d) As far as possible, Card should be used at authorized places centres only. Besides, PIN number should never be written on the Card
e) All the above

11. What is Pos Machine?
a) PoS stands for Point of Sale. Pos Machine is a small device installed at almost all Business Centres to facilitate cashless purchases to their customers.
b) It is printing machine
c) Xerox machine
d) Scanner
e) None of these

12. LPG blue book or cash receipt has your unique LPG ID for linking LPG ID to Bank account. This unique ID has how many digits
a) 8 digits
b) 17 digit
c) 4 digits
d) 6 digits
e) None of these

13. What are the benefits of Pradhan Mantri Jan-Dhan Yojana National Mission for Financial Inclusion to ensure access to financial services?
a) Banking/ Savings
b) Deposit Accounts
c) Remittance, Credit
d) Insurance and Pension in an affordable
e) All the above

14. What are the salient features of BSBDA Account?
a) There is no requirement of minimum balance
b) The services available include deposit and withdrawal of cash at bank branch as well as ATMs
c) receipt/credit of money through electronic payment channels or by means of collection/deposit of cheques.
d) Maximum of 4 withdrawals a month including ATM withdrawal. No such limit for deposits. & Facility of ATM card or ATM-cum-Debit card
e) All the above

15. Who can open BSBDA Account?
a) only business people
b) Any individual above the age of 10 years
c) only women
d) only senior citizens
e) None of these

16. What is RuPay Debit Card? Give details?
a) Rupay Debit Card is an indigenous domestic debit card introduced by National Payment Corporation of India (NPCI)
b) This card is accepted at all ATMs (for cash withdrawal)
c) Accepted at most of the PoS machines (for making cashless payment for purchases) in the country
d) All the above
e) None of these

17. The "Service Area Approach was a strategy launched to improve which of the following?
a) MSME
b) Unorganised sector
c) Rural Lending
d) Urban Industrial Lending
e) Infrastructure

18. RBI is called as Lender of Last Resort (LOLR) in India. Which of the following statement gives the most correct definition of LOLR?
a) If a commercial bank is in crisis, it may take place its reasonable demand for accommodation to RBI
b) Helping each other
c) Giving loans to farmers.
d) Giving loans to industrialists
e) None

19. Which of the following will not help RBI in controlling the inflation in the country?
a) An increase in Bank Rate
b) A purchase of securities in the open market
c) An in increase in Reverse Repo requirements
d) Rationing of the credit
e) None of these

50. Which of the following are called as 'financial intermediaries'?
a) Commercial banks
b) Life insurance companies
c) Pension Funds
d) savings and loan institutions
e) All the above