Important Banking and Financial Awareness questions for IBPS PO, India Post

Dear Readers, Banking Awareness Questions play important role in Banking exams. Around 50-60% of questions come from Banking Awareness which includes recent Banking updates also.


Try to Answer Banking Awareness questions given in this post. We will provide you more questions in next post.

1. Currency swap is an instrument to manage _______
A. Interest Rate Risk
B. Currency Risk
C. Cash flows in different countries
D. All of the Above
E. None of the Above

2. “Hawala transactions” in India are prohibited under the provision of which of the following acts?
A. Banking Regulation Act
B. Financial Action Task Force Act
C. Foreign Exchange Management Act
D. All of the Above
E. None of the above

3. Which of the following refers to an account that a bank holds in a foreign currency in another bank?
A. Nostro Account
B. Vostro Account
C. LORO Account
D. Mirror Account
E. None of the Above

4. Local currency account maintained by a local bank for a foreign (correspondent) bank is termed as _________
A. Nostro Account
B. Vostro Account
C. LORO Account
D. Mirror Account
E. None of the Above

5. ____is a Current Account Maintained by one Domestic Bank on behalf of other domestic bank in foreign bank in foreign currency
A. BSBDA
B. CA
C. LORO Account
D. Mirror Account
E. None of the Above

6. _______ percentage of Payment Bank’s branches must be in the unbanked rural area.
A. 25%
B. 10%
C. 15%
D. 20%
E. None of the Above

7. Committee on Comprehensive Financial Services for Small Businesses and Low Income Households, headed by ________ recommended the formation of a new category of bank called payments bank.
A. NR Madhawan Menon
B. Bimal Jalan
C. Nachiket Mor
D. Y.H. Melagam
E. None of the Above

8. Reserve Bank of India gave “in-principle” licences to _______ entities to launch payments banks.
A. 10
B. 11
C. 12
D. 13
E. None of the Above

9. Which of the following surrendered their “in-principle” to launch payments banks?
A. Cholamandalam Distribution Services
B. Dilip Shanghvi, Sun Pharmaceuticals
C. Tech Mahindra
D. All of the Above
E. None of the Above

10. The “in-principle” license is valid for _____months within which the entities must fulfil the requirements.
A. 12 Months
B. 14 Months
C. 18 Months
D. 24 Months
E. None of the Above

Answers
1-C
2-C
3-A
4-B
5-C
6-A
7-C
8-B
9-D
10-C


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