IBPS PO Banking Awareness Questions Questions Latest IBPS PO Banking Awareness Que: & PER ABR eet lial AR Se cesta Start Complete Exam Preparation eee (im) Prstice ee as rete jownload App Bx.) Question 1: View this Question Online > Commercial Papers are issued in multiple of 1. Rs. 1 lakh 2. Rs. 3 lakh 3. Rs. 5 lakh 4. Rs. 10 lakh 5. Rs. $0,000) a Answer (Detailed Solution Below) Option 3: Rs. 5 lakhforoy-Lel a2) India’s Super Teachers for all govt. exams Under One Roof a IBPS PO Banking Awareness Questions Question 1 Detailed Solution The correct answer is Rs. 5 lakh + Commercial paper, also called CPuis@ short-term debt instrument issued by companies to raise funds generally for a time period of up to one year. + They can be issued in denominations of Rs 5 lakh or multiples thereof. + It is an unsecured money market instrument issued in the form of a promissory note and was introduced in India for the first time in 1990. + Companies that enjoy high ratings from rating agencies often use CPs to diversify their sources of short-term borrowings. This gives investors an additional instrument. + CPs have a minimum maturity of seven days and a maximum of up to one year from the date of issue. + Since such instruments are not backed by collateral, only firms with high ratings from 2 recognized credit rating agency can sell such commercial papers at a reasonable price. CPs are usually sold at a discount to their face value, and carry higher interest rates than bonds, ear eu) Reece cts Start Complete Exam Preparation Pu esc Dac Ciesimooig Pyle Doce D> Download App Question 2: Pe ee ee ee ee le5. All of these Answer (Detailed Solution Below) Option 5: All of these IBPS PO Banking Awareness Questions Question 2 Detailed Solution The correct answer is All of these. coy @ Key Points cO « Officially valid documents (OVDs) for KYC purposes includ “driving licence, and rs ai voters’ ID card, PAN card, Aadhaar letter issued by UID. rd issued by NREGA signed by a State Government official + To further ease the process, the information cohtaini | details like name, address, age, gender, etc, and photographs made available from UIDAI as a result of the e-KYC process can also be treated as an ‘Officiall kao & Additional Informati X + There is now no requ and proof of address. + If the officially valid document submitted for opening a bank account has both, the identity and address of the person, there is no need for submitting any other documentary proof. + Since migrant workers, transferred employees, etc, often face difficulties while submitting proof of current address for opening a bank account, such customers can submit only one proof of address (either current or permanent) while opening a bank account or while undergoing periodic updation + If the current address is different from the address mentioned on the proof of address submitted by the customer, a simple declaration by her/him about her/his current address would be sufficient. ,f submitting two separate documents for proof of identityPPE eee Relea) Start Complete Exam Preparation OR Geo ara (8) Pray one Pear Rested resend Exe) Download App Question 3: View this Question Online > Which of the following are the features of a soiled note? 1. Notes that become dirty. 2. Notes that are slightly cut. 3. Notes that are mutilated. 1. Only (1) 2. Only (2) ‘ 2 3. Only B® ~z... (i) and @) 5. All (1), 2) and (3) Answer (Detailed Solution Below) Option 4: Both (1) and (2) IBPS PO Banking Awareness Questions Question 3 Detailed Solution The correct answer is Both (1) and (2). o Key Points + Soiled notes are those which have become dirty and slightly cut. + Notes which have numbers on two ends, i.e. notes in the denomination of Rs.10 and above which are in two pieces, are also treated as a soiled notes. + The cut in such notes, should, however, not have passed through the number panels. + All these notes can be exchanged at the counters of any public sector bank branch, eny currency chect branch of a private sector bank or anv Iecue Office of the Recerve Rank of India.&; Additional Informati + Mutilated notes which are in pieces\and/or of which the essential portions are missing can also be exchanged. * Essential portions in a currency not: e the name of issuing authority, guarantee, promise clause, signature, Ashoka Pillar emblem/portrait of Mahatma Gan + The refund value of these notes is, however, paid + These can also be exchanged at the counters of any chest branch of a private sector bank or any Issue Offi form ee see RCo Start Complete Exam Preparation Pio coed bd ta Question Bank Download App Question 4: View this Question Online > IMF's first Gender Strategy aimed at integrating gender into the Fund's core activities was launched in July 2022. Who'ameng the following is the Managing Director of the iaaco.1. Aivo Andrianativelo Myon 3. Sergio Chodos 4. Paul Hilbers 5. Kristalina Georgieva Answer (Detailed Solution Below) Option 5: Kristalina Georgieva IBPS PO Banking Awareness Questions Question 4 Detailed Solution The correct answer is Kristalina Georgieva. © Key Points « Kristalina Georgieva currently serves as Managing Director of the International Monetary Fund, a position she was selected for on September 25, 2019 and has served as since October 1, 2019. ° * Before joining the IMF, Ms. Georgieva was CEO of the World Bank from January 2017 to September 2019, during ime she also served as Interim President of the World Bank Group for three months + Previously, Ms. Georgieva hi hape the agenda of the European Union while serving as European Commission Vice President for Budget and Human Resources. &; Additional Information + Ms. Georgieva began her career in public service at the World Bank as an environmental economist in 1993. + In October 2020, she received the Atlantic Council's Distinguished International Leadership ‘Award in acknowledgement of exceptional and distinctive contributions during her career in public service. + Surjit Bhalla is the Executive Director for India at the IMF. + IMF’s first Gender Strategy aimed at integrating gender into the Fund’s core activities was launched in July 2022. 2 India’s #1 Learning Platform Coca csr Start Complete Exam Preparationire el reg Download App Question 5: View this Question Online > Which of the following statements is true about Know Your Customer (KYC) regulations? 1. KYC means Know Your @ustomer 2. It was introduced under Prevention of Money Laundering Act 3 ‘ocess includes ID card verification, face verification, document verification such as utility, bills 2=BPof of address, and biometric verification. 4, Banks must comply with KYC regulations and anti-money laundering regulations to limit, fraud. 5. All are true Answer (Detailed Solution Below) Option 5: ll are true IBPS PO Banking Awareness Questions Question 5 Detailed Solution The correct answer is All are true. @ Key Points \ aon + The Reserve Bank of India introduced Knowyour customer (KYC) guidelines for all banks in 2002. 2 - + In 2004, RBI directed that all banks @ngure that they are fully acquiescent with the KYC provisions before Decer 31, 2005. + The main aim of KYC wasiigiprevent money laundering, terrorist financing, and theft. + Banks should frame their KYC policies incorporating the following four key elements: + Customer Acceptance Policy, + Customer Identification Procedures, + Monitoring of Transactions and = Risk Management. ‘eter tanneries te think Seiee nt esas ten Se At Ferns er iiatcl bea etmeactivity, such as drug trafficking or terrorist funding, appear to have come from a legitimate source. + The Prevention of Money Laundering Act was introduced in 2002 and came into force with effect from 2005. India’s #1 Learning Platform Pla me) (CM Climate eh iced) Rene cs Pry ond) Mock Tests C2) i toe Ce rcs Download App Question 6: View this Question Online > As per RBI data, what is the amount remitted by Indians in Q1FY23 under the Liberalised Remittance Scheme (LRS)? 1. USD 3.65 billion 2. USD 8.76 billion 3 ‘*" billion 4. USD 7.€2 billion 5. USD 6.04 billion Answer (Detailed Solution Below) Option 5: USD 6.04 billion IBPS PO Banking Awareness Questions Question 6 Detailed Solution The correct answer is USD 6.04 billion. @xcy eoints + The latest data for Q1FY23 released by the RBI shows that remittance by indians under the erhoss lumned G4 7K narrent+; €8 04 hillian frac, (2:67 inde+ The amount remitted in Q1FY23 is even higher than that in Q4FY22, where outward remittance under LRS was to the tune of $6.8 billion. Ws sicianai edormash + International travel contriguted $2.92 billion of the $6.04 billion remitted under LRS in Q1FY23, constituting a aM cen of the money remitted under the LRS scheme. + Maintenance of close relatives*ormed the second largest segment after international travel, with Indian's remitting just over $1 billion in Q1FY23. + Mcney remitted under the category “gift” constituted the third largest segment, with India remitting around $770.66 million in Q1FY23. + Overseas education constituted the fourth largest segment, with $738.42 million remitted in QUFY23. + According to the Scheme introduced In 2004, all resident individuals, including minors, are allowed to freely remit up to $250,000 per financial year for any permissible current or capital account transaction or a combination of both. + The scheme was introduced on February 4, 2004, with a limit of $25,000. The LRS limit has been revised in stages consistent with prevailing macro and micro economic conditions. ca * India's #1 Learning Platform Start Complete Exam Preparation RCC esc ica Pra od Pac MasterCl Ra Reresteacas Pxtir) Download App Question 7: View this Question Online > What is the percentage increase or decrease in budget allocation for Pradhan Mantri Fasal Bima Yojana in the budget 2022-2023 when compared to the previous year's (2021 - 2022) budget estimate? 1. 3 percent increase 2. 3 percent decrease) 3. 5 percent decrease 5. 10 percent decreaseAnswer (Detailed Solution Below) Option 2: 3 percent decrease IBPS PO Banking Awareness Questions Question 7 Detailed Solution The correct answer is 3 percent decrease €) Key-Points c + There is a3 percent decrease in budget allocation for Pradhan Mantri Fasal Bima Yojana (PMFBY) in the budget 2022-2023 when compared to the previous year's (2021 - 2022) budget estimate. * The allocation for Pradhan Mantri Fasal Bima Yojana (PMFBY) is Rs18,500 crore for the financial year 2022-23, which is lower than the Budget Estimates of Rs 16,000 crore for 202A 2evised estimates of Rs 15989.39 crore for the current financial year. + Over 36 crore farmer applications have been insured under PMFBY, with over INR 1,07,059 crores of claims already being paid under the scHeme as of 4th February 2022. Ea Additional Infexmation + Pradhan Mantri Fasal Bima Yojana (PMFBY) was announced on 18th February 2016 by Prime Minister Shri Narendra Modi at Sehore, Madhya Pradesh. + The Pradhan Mantri Fasal Bima Yojana has successfully entered its 7th year of implementation with the upcoming Kharif 2022 season, completing 6 years of its implementation since its launch. + PMEBY aims to provide financial support to farmers suffering crop loss/damage arising out of natural calamities. + PMFBY was revamped in 2020 enabling voluntary participation of farmers. + The announcement by the Finance Minister of India during her 2022-23 budget speech on the use of drones for crop insurance wll further strengthen the integration of technology for smooth implementation of the scheme on the ground. + The scheme will be launching a doorstep distribution drive to deliver crop insurance policies to the farmers ‘Meri Policy Mere Hath’ in all implementing States. a eRe ae LT aii Rear et Start Complete Exam Preparation rowan oid ma acrsDownload App Question 8: View this Question Online > The Competition Commission of india (CCl) approves acquisition of stake in IDFC Asset Management Company Limited and DFC AMC Trustee Company Limited by ChrysCapital and GIC. zajaj Finserv Lid” A. Finance Holdings Ltd 3. Equitas Holdings Ltd 4. Bandhan Financial Holdings Ltd 5. Muthoot Finance Ltd Answer (Detailed Solution Below) Option 4: Bandhan Financial Holdings Ltd IBPS PO Banking Awareness Questions Question 8 Detailed Solution The correct answer is Bandhan Financial Holdings Ltd’. © Key Points + The Competition Commission of India (CCl) approves acquisition of stake in IDFC Asset Management Company Limited and IDFC AMC Trustee Compaity Limited by Bandhan Financial Holdings Limited, ChrysCapital and GIG, Company Limited (IDFC Alv 00% stake in IDFC AMC Trustee Company Limited (IDFC Trustee) by Bandhan Financial Limited (BFHL), Lathe Investment Pte. Ltd. (Lathe), Tangerine Investments Limited (CC Entity 1) and Infinity Partners (CC Entity 2). + BFHL is a wholly-owned subsidiary of Bandhan Financial Services Limited. BFHL is set up to act as the promoter of Bandhan Bank Limited and to hold the investment in Bandhan Bank as well ee ie eh ae a ee ae a ce a a ke a OM ee ae eee ee + The proposed combination A. eat of 98.96% stake in IDFC Asset Managementother financial sector regulators. + Lathe is wholly-owned by GIC (Ventures) Private Limited. Lathe is part of a group of investment holding companies managed by GIC Special Investments Private Limited. + CC Entity 1 isa subsidiary of ChrysCapital IX, LLC (CC IX). CC IX isa private equity fund set up by the ChrysCapital group. CC Entity 2 is a partnership firm. PB; Additional Information + IDFC AMC is the asset management company to IDFC Mutual Fund (IDMF), + IDFC AMC also operates a portfolio management business and acts as an investment manager to IDFC India Equity Hedge Fund, a Category Ill Alternative Investment Fund. eee en fer CR er Start Complete Exam Preparation Po cre Celie I [jee Download App Question 9: View this Question Online > is looking to tap into as it seeks to encourage people to gift ‘social security’ plans to their loved ones. 1. Sukanya Samriddhi,¥éjana 2. RB onstvne Vandana Yojana 3. Jeevan Suraksha Bandhan Yojana 4, PMJDY 5. Atal Pension Yojna Answer (Detailed Solution Below) Option 3: Jeevan Suraksha Bandhan Yojana IBPS PO Banking Awareness Questions Question 9 Detailed SolutionThe correct answer is Jeevan Suraksha Bandhan Yojana. + To build on the very encouraging responsé'to the two very affordable and convenient to subscribe insurance oo Pradhan Mantri Suraksha Bima Yojana (PMSBY) for accident and disability G6¥@h of up to Rs. 2 Lakh at an annual premium of Rs. 12 and the Pradhan Mantri Jeevan J ima Yojana (PMJJBY) for a term life cover of Rs. 2 Lakh at an annual premium of Rs. 330, launched by the Hon’ble Prime Minister on 9th May 2015, a special enrolment drive is being launched by participating Banks and Insurance Companies in the months of August-September, in the backdrop of the forthcoming festival of Raksha Bandhan. + The drive will reach out to the pool of eligible Bank account holders who are yet to be enrolled under these schemes India’s #1 Learning Platform een eet Start Complete Exam Preparation es hee ean Decl Download App restated Pyle Question 10: View this Question Online > The RBI has appointed which bank as the Interim Head for the Newly Formed Union Teritorry Ladakh. 1. SBI ~ 3. PNB 4. Bank Of Baroda 5. Jammu & Kashmir Bank Answer (Detailed Solution Below) Option 1: SBIIBPS PO Banking Awareness Questions Questi lution + The Reserve Bank 0 |) has appointed the State Bank of India (SBI) as the lead convenor bank for the unicn territory of Ladakh. + Jammu & Kashmir Bank is the lead bank for the newly formed union territory of Jammu and Kashmir. + The government via its gazette notification on August 9, 2019, had reformed the erstwhile Jammu and Kashmir state. + Itwas done after abolishing Art 370 and introducing the Jammu and Kashmir Reorganisation Act, 2019, into union territories of Jammu and Kashmir and Ladakh with effect from October 31,2019, The correct answer is SBI » Important Point: