Important Banking Awareness Quiz from Previous Year Bank Exams

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Dear Aspirants  Important Banking Awareness Questions from Previous Year Bank Exams for IBPS Exams 2017 was given here with Answer. 



1.1. MICR code consists of how many digits?
Ans.  9 digits. (First three digits denotes city, next three digits representing the bank and the last three digits representing the bank branch)

2.What is Stale Cheque?
Ans.  A cheque which is presented to a bank after 3 months from date of issue is considered as stale cheque and will often not be honored for cash or deposit at a bank.

3. The maximum deposit amount insured by DICGC? 
Ans. Rs. 1 lakh per depositors across all banks

4. With reference to a cheque which is the ‘drawee bank’? 
Ans. The bank upon which the cheque is drawn

5. The headquarter of BRICS Bank “The New Development Bank (NDB)” located in? 
Ans.  Shanghai, China.

6. SARFAESI Act 2002 is related to?
Ans.  Recovery of bad loans (The Securitization and Reconstruction of Financial Assets and Enforcement of
Security Interest Act, 2002 (SARFAESI) empowers Banks / Financial Institutions to recover their non-
performing assets (bad loans) without the intervention of the Court.

7. What does ‘FSLRC’ stand for?
Ans.  Financial Sector Legislative Reforms Commission (FSLRC).

8. National Investment and Infrastructure Fund (NIIF) is a fund created by the Government of India for enhancing infrastructure financing in the country. Headquarter of NIIF located in?
Ans.  Mumbai (NIIF, proposed to be set up as a Trust, would raise debt to invest in the equity of infrastructure
finance companies such as Indian Rail Finance Corporation (IRFC) and National Housing Bank
(NHB). The idea is that these infrastructure finance companies can then leverage this extra equity, manifold.

9. The holidays for the banks are declared as per? 
Ans. Negotiable Instruments Act

10.  Which organization is known as “Lender of the Last Resort” by Banks? 
Ans. RBI


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