Home JOB Alert IBPS PO Mains 2021 Practice 20 Important Banking Awareness Questions with Answers

IBPS PO Mains 2021 Practice 20 Important Banking Awareness Questions with Answers

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IBPS PO Mains 2021 Practice 20 Important Banking Awareness Questions with Answers

IBPS PO Mains 2021 Exam on 22nd January 2022. Practice 20 Important Banking Awareness/Economy/GA Questions with Answers. 

IBPS PO Mains 2021 Banking Awareness Important Questions: The Institute of Banking Personnel Selection (IBPS) will be conducting the IBPS PO Mains 2021 on 22nd January 2022 to fill up 4135 vacancies for Probationary Officers (PO) and Management Trainees (MTs) across 11 participating Public Sector Banks. The IBPS PO Mains 2021 Admit Card is available for download from 10th January 2022 to 22nd January 2022. The IBPS PO Prelims 2021 exam was held on 4th and 11th December 2021. Candidates who will qualify in the Mains examination will be called for the IBPS PO Interview Round. In this article, candidates who qualified in the Prelims can practice 20 Important Banking Awareness Questions with Answers for IBPS PO Mains 2021 exam.

IBPS PO Mains 2021 Important Dates

Event

Dates

IBPS PO Mains Admit Card Release and Download Date

10th January 2022 to 22nd January 2022

IBPS PO Mains Exam Date

22nd January 2022

IBPS PO Mains Result Declaration

February 2022 (Tentative)

IBPS PO Interview Call Letters Download Date

February 2022 (Tentative)

IBPS PO Interview Date

February 2022/ March 2022 (Tentative)

IBPS PO Provisional Allotment

April 2022 (Tentative)

IBPS PO Mains 2021 Exam Pattern

The IBPS PO Mains 2021 Exam will consist of a total of 155 questions (MCQs) from 4 sections – Reasoning & Computer Aptitude, General/Economy/Banking Awareness, English Language, and Data Analysis & Interpretation. There will be a Descriptive Paper also which will consist of a total of 2 questions on Letter Writing and Essay Writing.

NOTE: There is a negative marking for every wrong answer given by the candidates. One-fourth of the marks (0.25 of 1 mark question) will be a deduction for wrong answers.

Sections

Number of Questions

Marks

Sectional Timing

Medium of Exam

Reasoning & Computer Aptitude

45

60

60 Minutes

English and Hindi

General/Economy/Banking Awareness

40

40

35 Minutes

English and Hindi

English Language

35

40

40 Minutes

English

Data Analysis & Interpretation

35

60

45 Minutes

English and Hindi

Total (200 Marks)

155

200

3 Hours

 

Descriptive Paper – English Language (Letter Writing & Essay)

2

25

30 Minutes

English

 

IBPS PO Mains 2021 Practice 20 Important Banking Awareness Questions with Answers

Q1. What is the maximum limit of Aadhaar-enabled cash withdrawal transactions, per customer, per terminal per day, as per NPCI?

(1) 10

(2) 5

(3) 8

(4) 6

(5) 11

Answer: (2)

National Payments Corporation of India has introduced the maximum limit of five Aadhaar enabled cash withdrawal transactions, per customer, per terminal per day. The issuers will also implement a limit of a minimum of five mini statement transactions per customer per month. This has to be implemented by 15th January 2022.

Q2. What is the annual export target of India for the year 2021-22?

(1) $400 billion

(2) $600 billion

(3) $500 billion

(4) $450 billion

(5) $350 billion

Answer: (1)

India has set an ambitious target of $400 billion of exports for the year 2021-22. Indian economy has returned to the high growth path and India’s GDP grew by over 20 per cent in the first quarter of 2021-22. India’s exports in the April-December period came to about $300 billion.

Q3. Pierre-Olivier Gourinchas has been named as the new Chief Economist of which international body?

(1) World Bank 

(2) ADB

(3) IMF

(4) RBI

(5) OECD

Answer: (3)

Pierre-Olivier Gourinchas was named as the new Chief Economist of the International Monetary Fund announced on 11th January 2022. Pierre-Olivier Gourinchas is a French-born University of California- Berkley Economist who will be joining the IMF management team in January 2022 and replacing Gita Gopinath as the IMF’s Chief Economist.

Q4. What is the total cost approved for setting up Green Energy Corridor Phase 2 to facilitate the grid integration and the power evacuation of about 20 GW of renewable energy projects in 7 states?

(1) Rs 12,031 crores

(2) Rs 14,031 crores

(3) Rs 10,031 crores

(4) Rs 20,031 crores

(5) Rs 16,031 crores

Answer: (1)

Union Cabinet on 6th January 2022 approved the Green Energy Corridor Phase 2 to be set up at a total of cost of Rs 12,031 crores of which the Central Finance Assistance (CFA) will be 33% of the project cost.

Q5. Who among the following has become the first Black woman to feature on a US coin?

(1) Maya Angelou

(2) Sally Ride

(3) Wilma Mankiller

(4) Nina Otero-Warren

(5) Anna May Wong

Answer: (1)

Maya Angelou has become the first Black woman in the American Women Quarters Program who will be featured on the US quarter. The Program by the United States Mint will issue 20 quarters over the next four years honouring women and their achievements in shaping the nation’s history.

Q6. Which state ranked 1st in the Logistics Ease Across Different States (LEADS) 2021?

(1) Uttar Pradesh

(2) Gujarat

(3) Andhra Pradesh

(4) Tamil Nadu

(5) Maharashtra

Answer: (2)

Gujarat again ranked 1st in the LEADS 2021 Index among 21 states for its ‘proactive policies, well-developed infrastructure and services driven by a responsive government’.

Q7. PM Narendra Modi launched two customer-centric initiatives ‘Retail Direct Scheme’ and ‘Integrated Ombudsman Scheme’ of which institution?

(1) World Bank

(2) Securities Exchange Board of India (SEBI)

(3) Reserve Bank of India (RBI)

(4) Asian Development Bank (ADB)

(5) NITI Aayog

Answer: (3)

PM Narendra Modi on 12th November 2021 launched two customer-centric initiatives of the Reserve Bank of India (RBI) – ‘Retail Direct Scheme’ and ‘Integrated Ombudsman Scheme’ to ease access to the government securities market for retail investors.

Q8. The GST Council has decided to postpone the increase in GST Rate on which product?

(1) Cotton

(2) Oil

(3) Mobile Phones

(4) Textile

(5) Automobile

Answer: (4)

The 46th Council meeting of the GST Council has decided to postpone the rate hike on textiles from 5% to 12%. Indian industry and other various States have opposed the increase in the tax to 12% from 5% effective January 1, 2022. The issue will be reviewed in the next meeting in February 2022.

Q9. In the Indian banking industry, which private bank recently issued the first Line of Credit (LC) on the Secured Logistics Document Exchange (SLDE), a government-backed blockchain-enabled platform?

(1) HDFC Bank

(2) Axis Bank

(3) ICICI Bank

(4) IDBI Bank

(5) Induslnd Bank

Answer: (2)

Axis Bank on Monday said it has successfully executed industry-first blockchain-enabled domestic trade transaction with Arcelor Mittal Nippon Steel India, and Lalit Pipes & Pipes Ltd on Secured Logistics Document Exchange (SLDE), a government-backed platform.

Q10. According to RBI guidelines, the ‘Payments Banks’ are ‘permitted’ to _____

(1) Accept NRI deposits

(2) Issue Credit/Debit Cards

(3) Distribute pension/mutual fund & insurance products

(4) Offer other financial/non-financial services of promoters

(5) Set up subsidiaries to undertake non-banking financial services

Answer: (3)

According to RBI guidelines, payments banks can undertake non-risk sharing simple financial services activities that do not require any commitment of their own funds such as distribution of mutual fund units, insurance products, pension products, etc. with the prior approval of the RBI and after complying with the requirements of the sectoral regulator for such products.

Q11. To combat the menace of money laundering, which of the following financial institutions has introduced the ‘Know Your Customer’ Scheme?

(1) IDBI

(2) RBI

(3) NABARD

(4) SIDBI

(5) Other than those given as options

Answer: (2)

The Reserve Bank of India (RBI) introduced the ‘Know Your Customer’ Scheme in 2002 to help control financial frauds, identify money laundering and suspicious activities, and for scrutiny/monitoring of large value cash transactions.

Q12. Monetary policy is concerned with ________

(1) the changes in the supply of money

(2) buying and selling of financial instruments

(3) reducing unemployment

(4) All (1), (2) & (3)

(5) Other than those given as options

Answer: (4)

The monetary policy laid down by the Reserve Bank of India (RBI) is concerned with the changes in the supply of money, buying and selling of financial instruments, reducing unemployment. Monetary policy can be expansionary and contractionary in nature. Expansionary monetary policy usually decreases unemployment.

Q13. Which of the following sectors contributes maximum in deciding the growth in income of the states in India?

(1) Energy

(2) Tourism

(3) Service

(4) Transport

(5) Agriculture

Answer: (3)

The service Sector contributes a maximum at 54% in deciding the growth in income of the states in India.

Q14. Which of the following is the state has emerged as the poorest in India as per NITI Aayog’s Multidimensional Poverty Index (MPI)?

(1) Bihar

(2) Andhra Pradesh

(3) Uttar Pradesh

(4) Rajasthan

(5) Orissa

Answer: (1)

As per the NITI Aayog’s Multidimensional Poverty Index (MPI), 51.91% of the population in Bihar is multidimensionally poor.

Q15. Who is the person closely associated with operation flood programmes and was honoured by Padma Vibhushan?

(1) Dr. V. Kurien

(2) Dr. M. S. Swaminathan

(3) Dr. Amartya Sen

(4) Shri L. K. Advani

(5) Other than those given as options

Answer: (1)

In the late 1960s, Dr. Verghese Kurien drew up a project called Operation Flood.

Q16. What is the revised date of the deadline for updating KYC for bank accounts?

(1) 31st March 2022

(2) 31st January 2022

(3) 31st May 2022

(4) 31st July 2022

(5) 31st October 2022

Answer: (1)

The Reserve Bank of India (RBI) has extended the deadline for KYC in bank accounts till March 31, 2022, from the previous deadline of December 31, 2021.

Q17. ‘Financial Stability Report (FSR)’ is released by which institution?

(1) World Bank

(2) Securities Exchange Board of India (SEBI)

(3) Reserve Bank of India (RBI)

(4) Asian Development Bank (ADB)

(5) NITI Aayog

Answer: (3)

The Reserve Bank of India (RBI) releases the ‘Financial Stability Report (FSR)’. The latest RBI’s Financial Stability Report was released on 3rd January 2022.

Q18. In which year, the first five year plan was launched in India?

(1) 1981

(2) 1941

(3) 1961

(4) 1951

(5) 1971

Answer: (4)

The First Five-Year Plan was presented before the Parliament on 9th July 1951 by India’s first Prime Minister Jawaharlal Nehru.

Q19. Which taxes at the Central level are being subsumed into GST?

(1) Central Excise Duty

(2) Additional Excise Duty

(3) Service Tax

(4) Special Additional Duty of Customs

(5) All the given options

Answer: (5)

At the Central level, the following taxes namely Central Excise Duty, Additional Excise Duty, Service Tax, Special Additional Duty of Customs, and Additional Customs Duty is commonly known as Countervailing Duty are subsumed into GST.

Q20. NFS is operated by ______

(1) India Post

(2) RBI

(3) NPCI

(4) CCIL

(5) IDRBT

Answer: (3)

National Financial Switch (NFS) is operated by the National Payments Corporation of India (NPCI).

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