Banking Awareness for IBPS PO 2017-- Set 1

1) The Deposits shall be held at the credit of the declarant in BLA maintained with ________
A. GOI
B. RBI
C. NABARD
D. SEBI
E. None of these

Answer
B. RBI
Explanation:
The Deposits shall be held at the credit of the declarant in BLA maintained with RBI.


2) What is the interest rate of Pradhan Mantri Garib Kalyan Deposit Scheme (PMGKDS)?
A. 6%
B. 4%
C. 5%
D. 3%
E. No Interest

Answer
E. No Interest
Explanation:
No interest in Pradhan Mantri Garib Kalyan Deposit Scheme(PMGKDS)


3) In, Pradhan Mantri Garib Kalyan Deposit Scheme (PMGKDS), the repayment of the deposit will be made after a period of _____
A. 2 years
B. 3 years
C. 4 years
D. 5 years
E. None of these

Answer
C. 4 years
Explanation:
The repayment of the deposit will be made after a period of 4 years.


4) Nomination facility is available as per the provisions of the Government Securities Act 2006 and ___________
A. Government Securities Regulations, 2007
B. Government Securities Regulations, 2006
C. Government Securities Regulations, 2005
D. Government Securities Regulations, 2004
E. None of these

Answer
A. Government Securities Regulations, 2007
Explanation:
Nomination facility is available as per the provisions of the Government Securities Act 2006 and Government Securities Regulations, 2007.


5) BLA stands for ______
A. Bond Ledger Account
B. Bond Lending Account
C. Basic Ledger Account
D. Basic Lending Account
E. None of these

Answer
A. Bond Ledger Account
Explanation:
BLA – Bond Ledger Account


6) Sovereign Gold Bond (SGB) are sold through __________ either directly or through their agents.
A. Scheduled Commercial Banks(excluding RRBs)
B. SHCIL Offices
C. Designated Post Offices
D. All of these
E. None of these

Answer
D. All of these
Explanation:
Sovereign Gold Bond (SGB) are sold through Scheduled Commercial Banks(excluding RRBs), SHCIL Offices and  Designated Post Offices either directly or through their agents.


7) SGBs bear interest at the rate of ______ per annum on the amount of initial investment.
A. 1.75%
B. 1.25%
C. 1.50%
D. 2.75%
E. None of these

Answer
D. 2.75%
Explanation:
SGBs bear interest at the rate of 2.75% per annum on the amount of initial investment.


8) SGB Bonds are issued in denominations of _____ gram of gold.
A. One
B. Two
C. Three
D. Four
E. All of these

Answer
A. One
Explanation:
SGB Bonds are issued in denominations of one gram of gold.


9) In SGB Bonds Payment can be made through cash up to ______
A. Rs. 5000
B. Rs. 10000
C. Rs. 20000
D. Rs. 25000
E. None of these

Answer
C. Rs. 20000
Explanation:
Payment can be made through cash up to Rs. 20000.


10) Sovereign Gold Bonds can be held in ______ account.
A. Current Account
B. SB Account
C. Term Deposits
D. Demat
E. None of these

Answer
D. Demat
Explanation:
Sovereign Gold Bonds can be held in Demat account.