GENERAL AWARENESS PRACTICE MCQs FOR ALL BANK EXAMS

1. Who is the Chairman of NITI Aayog?
a) Arvind Panagariya
b) Dr. Vijay Kelkar
c) Sunil Kanoria
d) Anupam Srivastava
e) Narendra Modi

2. In Strategic alliance, the alliance partners?
a) Merge with each other
b) One partner acquires the other
c) Remain separate entities
d) One partner amalgamates with other
e) None of the above

3. The premium on accident insurance under PMJDY will be borne by?
a) National Payments Corporation of India
b) Life Insurance Corporation of India
c) General Insurance Corporation of India
d) Central Government
e) None of these

4. INFINET is set up in which of the following cities?
a) Mumbai
b) New Delhi
c) Hyderabad
d) Chennai
e) Kolkata

5. The essential characteristic of whatever serves as money is that it must:
a) Be issued by the State
b) Be generally acceptable
c) Cannot be wholly fiduciary
d) Have some intrinsic value
e) None of these

6. Digital India Programme is planned to be fully implemented by:
a) 2016
b) 2017
c) 2018
d) 2019
e) 2020

7. Under Pradhan Mantri Sneh Bandhan Yojana, an individual may invest an amount of:
a) Rs. 5000
b) Rs. 5001
c) Rs. 5005
d) Rs. 5010
e)Rs. 6001

8. What is the Credit guarantee corpus amount of MUDRA Bank?
a) Rs. 3000 crores
b) Rs. 4000 crores
c) Rs. 2500 crores
d) Rs. 2000 crores
e) Rs. 1500 crores

9. The principal liability of a Bank relates to ___:
a) it's investment abroad
b) it's investment at home
c) repayment of it's customer's deposits
d) it's requirements to make special deposits when requested
e) None of these

10. Which of the following is not a function of the Commercial Bank?
a) Acting as a lender of last resort
b) Lending to the private and public sectors
c) The provision of a cheque system for setting debts
d) The provision of safe deposit facilities
e) None of these

11. Under Pradhan Mantri Jeevan Jyoti Bima Yojana, the life insurance cover is for how many years:
a) 1 year
b) 2 years
c) 3 years
d) 4 years
e) 5 years

12. As per Pradhan Mantri Suraksha Bima Yojana (PMSBY), if the customer has taken a cover under
multiple bank accounts then the amount of premium under this will be:
a) Forfeited
b) Renewed
c) Double
d) Same
e) None of the above

13. Digital India Programme is centered on 3 key vision areas. Which of the following is not included in these vision areas?
a) Digital Infrastructure as a core utility to every citizen
b) Governance and services on demand
c) To promote digital banking
d) Digital Empowerment of citizens
e) None of the above

14. A customer does not require a bank account to obtain ___:
a) a loan
b) a cheque book
c) a banker's draft
d) an overdraft
e) None of these

15. Atal Pension Yojana (APY) offers fixed amount of pension ranging between Rs. 1000 to ___ depending upon the contribution which will be based on the age of joining the APY:
a) Rs. 2000
b) Rs. 3000
c) Rs. 4000
d) Rs. 5000
e) Rs. 6000

16. Which of the following is not the function of RBI?
a) Issue of currency notes
b) Maintaining financial stability
c) Subsidies to people
d) Banker to Bank
e) Banker to Government

17. Which of the following documents are required for registration of a Jeevan Pramaan?
a) Aadhar Number
b) PPO number
c) Bank Account Number
d) All of the above
e) None of the above

18. As per Sukanya Samriddhi Account the tenure of deposit is for ___ years from the date of opening of the account:
a) 15 years
b) 20 years
c) 21 years
d) 24 years
e) 25 years

19. Under Sukanya Samriddhi Account (SSA), the bank account will be opened for a girl child upto the age of ____:
a) 5 years
b) 8 years
c) 10 years
d) 15 years
e) 12 years

20. What is the initial corpus of MUDRA Bank?
a) Rs. 20,000 crores
b) Rs. 30,000 crores
c) Rs. 35,000 crores
d) Rs. 40,000 crores
e) Rs. 25,000 crores

21. In India national income is estimated by?
a) Finance Commission
b) Central Statistical Organisation
c) Planning Commission
d) Finance Ministry
e) Reserve Bank of India

22. A scheme named ____ offers a long term subscription to Pradhan Mantri Suraksha Bima Yojana with attached Fixed Deposit.
a) Suraksha Deposit Scheme
b) Suraksha Insurance Cover
c) Jeevan Suraksha Yojana
d) Suraksha Cover
e) Suraksha Investment Scheme

23. What is/are the objective of Pradhan Mantri Kaushal Vikas Yojana (PMKVY)?
a) To impart skill training to youth
b) Focus on first time entrants to the labour market
c) Focus on class 10 and class 12 dropouts
d) All of these
e) None of the above

24. What is meant by "Underwriting", the term frequently used 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
d) Assignment of Insurance Policy
e) Hypothecation of stocks

25. Misery Index' represents?
a) Sum of rate of inflation and rate of unemployment
b) Product of rate of inflation and rate of unemployment
c) Proportion of very poor to poor living below the poverty line
d) Inflation rate divided by unemployment rate
e) Both (b) and (c)

26. Which of the following statement is true for IMF?
a) It is not an agency of UNO
b) It can grant loan to any country of the world
c) It can grant loan to state Govt. of a country
d) It grants loan only to member nations
e) It can grant loan only to European Countries

27. Which pair is not correct?
a) EXIM Bank - Financing for export - import
b) RBI - Banker's bank
c) IDBI - Industrial finance
d) FCI - Financial Assistance to Commercial Banks
e) NABARD - Apex organization for assisting Agriculture & Rural Development

28. Statutory Liquidity Ratio (SLR) of commercial banks means:
a) The percentage of cash that banks keep with them, as per IBA Guidelines
b) A portion of Fixed Deposits to be maintained with RBI as per RBI Act - 1934
c) Every bank is required to maintain a proportion of their Net Demand and Time Liabilities as liquid assets in the form of cash, gold and un-encumbered approved securities
d) The rate at which central bank of the country (in India it is RBI) allows finance to commercial banks
e) None of the above

29. Which bank is created for the promotion of cross border trade and investment?
a) NABARD
b) SIDBI
c) EXIM Bank
d) IDBI
e) None of the above

30. "Closed Economy" is that economy in which?
a) Neither export nor import takes place in a country
b) Deficit financing takes place
c) Only export takes place
d) Only imports are allowed
e) None of the above

31. Apna Sahakari Bank Ltd is located at?
a) Bhopal, Madhya Pradesh
b) Kolkata, West Bengal
c) Lucknow, Uttar Pradesh
d) Mumbai, Maharashtra
e) Hyderabad, Telangana

32. On which of the following types of cheques alterations are not allowed by RBI?
a) Paper cheque
b) CTS cheque
c) Electronic cheque
d) Cheque with account payee crossing
e) None of the above

33. What is the income criteria for sanctioning loan under Prime minister Employment Generation Programme (PMEGP)?
a) Rs. 18,000 per head
b) Rs. 18,000 per family
c) Rs. 24,000 per family
d) Rs. 36,000 per family
e) No ceiling on Income

34. Under Negotiable Instruments Act-1881 Inchoate Instrument means:
a) Invalid instrument
b) Incomplete instrument
c) Restricts further endorsement
d) Illegal Instrument
e) None of the above

35. To apply the Garnishee Order, the Banker - Customer relationship should be:
a) Creditor - Debtor
b) Agent - Principal
c) Trustee - Beneficiary
d) Debtor - Creditor
e) None of the above

36. Under Pradhan Mantri Suraksha Bima Yojana (PMSBY) insurance cover for accidental death or permanent full disability is:
a) Rs. 2 lakhs
b) Rs. 3 lakhs
c) Rs. 4 lakhs
d) Rs. 5 lakhs
e) Rs. 1 lakh

37. In term deposits if the Principal and Interest is Rs. 20,000 or above it should not be paid in cash as per ____:
a) RBI Act
b) Negotiable Instruments Act
c) Banking Regulation Act
d) Income tax Act
e) None of the above

38. As per BCSBI - Banking Codes and Standard Board of India, duplicate DD should be issued within ___ from the date of request?
a) 7 days
b) 14 days
c) 10 days
d) 15 days
e) 3 days

ANSWERS:
1) e 2) c 3) a 4) c 5) b 6) d 7) b 8) a 9) c 10) a
11) a 12) a 13) c 14) c 15) d 16) c 17) d 18) c 19) c 20) a
21) b 22) a 23) d 24) b 25) a 26) d 27) d 28) c 29) c 30) a
31) d 32) b 33) e 34) b 35) d 36) a 37) d 38) b

GENERAL AWARENESS PRACTICE QUESTIONS FOR IBPS EXAMS

1. RBI updated KYC norms on 2 September 2016. In this context, KYC stands for ......
1) Know Your Copy
2) Know Your Custom
3) Know Your Customer
4) Know Your Credential
5) Know Your Cashier

2. Which of the following statement is correct regarding KYC?
1) KYC is a process by which banks obtain information about the identity and address of the customers.
2) KYC procedure is to be completed by the banks while opening accounts.
3) Banks required periodically update their customers' KYC details.
4) KYC process helps to ensure that banks' services are not misused.
5) All of above

3. As per RBI update rules of KYC, what are the KYC requirements for opening a bank account?
1) Proof of identity
2) Proof of address
3) Recent photograph
4) None of them required
5) All of above required

4. Which of the following documents is not one of the 'proof of identity' in KYC as per RBI directions?
1) PAN Card
2) Aadhar Card
3) Birth Chart issued by famous Astrologer
4) NREGA Job Card
5) Voters' Identity Card

5. Government of India has notified six documents as OVDs for the purpose of producing proof of identity. In this context, OVD stands for ......
1) Officially Voter Documents
2) Officially Valid Documents
3) Officially Void Documents
4) One Valid Documents
5) Over Valid Documents

6. If any person does not have any of the listed documents named as 'proof of identity', whether that person can open a bank account?
1) No, he cannot open account.
2) Yes, he can open account and after 10 days he can submit Identity Proof.
3) Yes, the customer can open account in RBI, as RBI can give current account to individuals effective from 1 July 2016.
4) Yes, he can still open a bank account known as 'Small Account' by submitting recent photograph and putting signature or thumb impression in the presence of the bank official.
5) Yes, by taking special permission from State Government.

7. Usually Small Accounts will have limitations. As per the limitations, at any point of time, the maximum balance in the account should not exceed ..........
1) Rs.50,000
2) Rs.1,00,000
3) Rs.1,000
4) Rs.10,00,000
5) Rs.75,000

8. Total credits in one year should not exceed .... in Small Accounts as per the order of RBI.
1) Rs.10,00,000
2) Rs.8,00,000
3) Rs.1,000
4) Rs.5,00,000
5) Rs.1,00,000

9. In the Small Accounts, total withdrawal and transfers in a month should not exceed .......
1) Rs.1000
2) Rs.20,000
3) Rs.50,000
4) Rs.10,000
5) Rs.1,00,000

10. Whether Foreign remittances can be credited in Small Accounts?
1) Yes, but up to $ 1000 per month
2) Yes, but up to $ 50 per month
3) No
4) Yes
5) None of above option correct

11. Small Accounts remain operational initially for a period of ......... if the customer does not provide any of the valid documents and thereafter, for a further period of 12 months if the holder of such an account provides evidence to the bank of having applied for any of the officially valid documents.
1) 6 months
2) 3 months
3) 18 months
4) 12 months
5) 24 months

12. Which of the following document cannot be produced as Proof of Address (PoA) as per the updated KYC rules?
1) Utility bill, which is not more than two months old, of any service provider (electricity, telephone, water bill etc).
2) Bank account or Post Office savings bank account statement.
3) Any hotel bill proved staying of 3 days.
4) Property or Municipal Tax receipt.
5) Documents issued by Government departments of foreign jurisdictions or letter issued by Foreign Embassy or Mission in India.

13. Banks required to categorise their customers based on risk assessment in three categories as per depending on their AML risk assessment as per the RBI directions. These three categories are ........
1) Rich, Poor and Middle Class People
2) Low, Medium and High
3) Brown, Black and Red
4) A, B and C
5) Territorial, Extra Territorial and None

14. e-KYC refers to electronic KYC. e-KYC is possible only for those who have Aadhaar numbers. Aadhar Card issued by Unique Identification Authority of India (UIDAI). Who was appointed as the part-time Chairman of UIDAI on 8 September 2016?
1) U.K.Sinha
2) T.S. Vijayan
3) Devendra Sikri
4) Alka Sirohi
5) J. Satyanarayana

15. APB implemented by National Payments Corporation of India (NPCI), which uses Aadhaar number as a central key for electronically channelizing the Government subsidies and benefits. APB stands for .......
1) Aadhaar Payment Bridge
2) Aadhaar Point Bridge
3) Aadhaar pool Bridge
4) Aadhaar Payment Book
5) Aadhaar Payment Brand

16. As per the order of RBI, KYC exercise needs to be done for all those who want to make domestic remittances of ......... and above and all foreign remittances.
1) Rs.50,000
2) Rs.5,00,000
3) Rs.10,000
4) Rs.1,000
5) Rs.5,000

17. Banks can close the account of customer, if customer does not provide the KYC documents at the time of periodic updation. Before closing the account, the bank may, however, impose 'partial freezing', Banks have to give due notice of three month sand reminder for further period of ........
1) Six months
2) Three months
3) Two months
4) Ten months
5) Eight months

18. Which bank has bagged four awards for inclusive insurance for 2016 from Skoch Group?
1) Telangana Gramin Bank
2) Puduvai Bharathiyar Grama Bank
3) Karnataka Vikas Grameena Bank
4) Andhra Pradesh Gramin Vikas Bank
5) Pradhama Gramin Bank

19. India signed MoU with African Development Bank (AfDB) Group to host the next annual meetings at Mahatma Gandhi Convention Centre, Ahmedabad from 22nd May to 26th May 2017. Where is the head quarter of African Development Bank (AfDB) Group?
1) Algiers (Algeria)
2) Cairo (Egypt)
3) Port Louis (Mauritius)
4) Abidjan (Ivory Coast)
5) Victoria (Seychelles)

20. In which year, African Development Bank (AfDB) was established?
1)1945
2) 1966
3) 2015
4) 1964
5) 2016

21. How many member nations are there in African Development Bank (AfDB)?
1) 189
2) 67
3) 78
4) 57
5) 5

22. Who is the Nigerian National is the present head of African Development Bank (AfDB)?
1) Jim Yong Kim
2) Take Hiko Nakao
3) Akinwumi Adesina
4) Jin Liquin
5) K V Kamath

23. Which scheme recently notified to offer financial incentives to employers on 1 September 2016?
1) National Apprenticeship Policy Scheme.
2) National Appendix Promotion Scheme.
3) National Apprenticeship Promotion Scheme.
4) National Apprenticeship Price Scheme.
5) Ninth Apprenticeship Promotion Scheme.

24. Under National Apprenticeship Promotion Scheme (NAPS), an outlay of Rs.10,000 crore granted with a target of 50 lakh apprentices to be trained by ......
1) 2019-20
2) 2018-19
3) 2021-22
4) 2024-25
5) 2017-18

25. Indian Railway will provide insurance cover up to 10 lakh rupees for passengers travelling on e- ticket after paying a premium of ...
1) Rs.1
2) 25 paise
3) Rs.2
4) 92 paisa
5) Rs.5

26. For insuring its passengers, the Indian Railways selected three insurance companies. They are Shriram General Insurance, ICICI Lombard General Insurance and ......
1) Royal Sundaram General Insurance
2) LIC
3) Max Bhupa Health Insurance
4) HDFC Ergo
5) Bajaj Allianz

27. Nadia Murad Basee Taha appointed as UN Goodwill Ambassador for the Dignity of Survivors of Human Trafficking of the UN Office on Drugs and Crime (UNODC). She belongs to ........
1) Pakistan
2) Afghanistan
3) Syria
4) Iraq
5) Lebanon

28. United Nations Office on Drugs and Crime (UNODC) was established in ........
1) 1997
2) 1945
3) 1946
4) 1964
5) 1972

29. Under Vanbandhu Kalyan Yojna scheme, Rs.4,800 crore funded irrigation and drinking water supply projects in tribal areas of .......... launched by PM on 17 September 2016.
1) Gujarat
2) Assam
3) Chhattisgarh
4) AP
5) Tamilnadu

30. World Economic Freedom Index 2016 declared. Indiaís rank in this index stood at....
1) 100
2) 120
3) 112
4) 10
5) 32

31. Which scheme was launched to support and promote organic farming and thereby improving soil health? The Scheme encourages farmers to adopt eco-friendly concept of cultivation and reduce their dependence on fertilizers and agricultural chemicals to improve yields.
1) The Pradhan Mantri Fasal Bima Yojana
2) eNAM
3) Paramaparagat Krishi Vikas Yojana
4) Pradhan Mantri Krishi Sinchai Yojana
5) Kisan Vikas Patra

32. As per latest RBI report, which state has topped in attracting industrial investments in 2015-16 with an investment of Rs 21,914 crore out of the Rs 1,38,700 crore Gross Investments across India?
1) Andhra Pradesh
2) Gujarat
3) Maharashtra
4) Tamil nadu
5) Karnataka

33. Who headed the committee that was constituted to look into the alternatives to pellet guns to disperse crowd?
1) Madhukar Guphta
2) Traun Ramadorai
3) TVSN Prasad
4) Ratan P watal
5) P.K.Sinha

34. Theme of the 'International Day for the Preservation of the Ozone Layer' 2016 is....
1) Ozone and climate: Returned by a world united
2) 'Ozone and Atmosphere: Restored by a world united'
3) 'Ozone and Oxygen: Restored by a world united'
4) 'Ozone and climate: Targeted by a world united'
5) 'Ozone and climate: Restored by a world united'

35. Water Resources Ministry and Agriculture Ministry on 16 September 2016 made MoU to develop organic farming in over 5000 villages along the banks of ......... river in each Gram Panchayat representing a cluster under Paramaparagat Krishi Vikas Yojana.
1) Godavari
2) Krishna
3) Ganga
4) Kaveri
5) Narmada

Answers:
1-3, 2-5, 3-5, 4-3, 5-2, 6-4, 7-1, 8-5, 9-4, 10-3
11-4, 12-3, 13-2, 14-5, 15-1, 16-1, 17-2, 18-3, 19-4, 20-4
21-3, 22-3, 23-3, 24-1, 25-4, 26-1, 27-4, 28-1, 29-1, 30-3
31-3, 32-1, 33-3, 34-5, 35-3