Banking Awareness Questions :: IBPS PO & Clerks Set 1 Question And Answers

Quantitative Aptitude
Verbal Ability

11. As we know, a lot of new companies are being used in the field of banking these days. Which of the following is NOT one such concept / product directly associated with banks?

A. F-Payment B. SMS Alert
C. ATM / Debit Card D. Demat Account
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12. The Reserve Bank of India (RBI) Acts as a banker's bank. This would imply which of the following ?
A) Other Banks maintain their deposits with the RBI
B) RBI lends funds to the commercial banks in times of need
C) RBI Advises the commercial banks on monetary matters

A. B and C B. A and B
C. A and C D. A, B and C
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13. The type of note issue system followed in India is ___________

A. Proportiaonal Fiduciary System B. Fixed Fiduciary System
C. Minimum Fiduciary System D. Minimum Reserve System
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14. Consider the following statements and state which of them is / are true?

A. Loan and advances are both granted by banks to customer for a long period of time B. Banks keep our jewellery and important documents safe with them
C. Through overdraft, a customer can withdraw more money than the amount in his / her bank account D. Discounting of bills is done by banks free of cost
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15. World Bank headquarters is in ____________

A. USA B. Austria
C. Canada D. Egypt
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16. The features of Demand Draft given, Locate the wrong option?

A. It is drawn by a bank upon its own branch or another bank. B. Demand Draft valid for 3 months.
C. It is payable on demand and it cannot be made payable to bearer. D. None
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17. A Demand Draft payable to bearer may be issued only by ____________

C. SEBI D. Private Banks
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18. Payment of a lost Demand Draft is made to the _______________

A. Purchaser B. Friend of purchaser
C. Guarantor D. RBI
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19. If the Original Demand Draft is lost, the bank issues duplicate Demand Draft, by taking ___________ ?

A. Permission from RBI B. Indemnity bond from the purchaser of Draft
C. Rs. 50 as simply penalty D. Assurance form the purchaser of Draft on white paper
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20. Unsigned Demand Draft is presented for payment, then drawee branch should ?

A. Pay simply as it is issued by another bank B. Honor it after seeking complaint from the collecting bank.
C. Honor it as it is a negotiable instrument D. Dishonor it, since it does not have a mandate of the drawer bank to pay.
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