IBPS PO Flashcards

The 'SWIFT' code used in international banking transactions stands for:

Answer: Society for Worldwide Interbank Financial Telecommunication

SWIFT stands for Society for Worldwide Interbank Financial Telecommunication, a messaging network used for international money transfers.

Which of the following is the correct definition of 'Reverse Repo Rate'?

Answer: The rate at which commercial banks park their excess funds with RBI

Reverse repo rate is the rate at which the RBI absorbs liquidity from banks by borrowing money from them.

In IBPS PO computer knowledge, RAM refers to:

Answer: Random Access Memory

RAM (Random Access Memory) is volatile primary storage used by computers to store data that is actively being used or processed.

A sum of Rs. 5,000 is invested at 8% per annum simple interest for 3 years. What is the total amount at maturity?

Answer: Rs. 6,200

SI = (5000 × 8 × 3)/100 = Rs. 1,200; Total amount = 5000 + 1200 = Rs. 6,200.

The IBPS PO mains exam includes a 'Descriptive Test' that primarily assesses:

Answer: Letter writing and essay writing skills in English

The IBPS PO Mains Descriptive Test evaluates written English communication through a formal letter and an essay, each carrying specific marks.

Which of the following is an example of 'Moral Suasion' by RBI?

Answer: Issuing directives to banks to control lending in specific sectors

Moral suasion involves RBI persuading or pressuring banks through informal means, directives, and advice to follow certain credit policies without formal legal action.

In a coded language, if BANK is written as CBOL, then how is LOAN written in that code?

Answer: MPBO

Each letter is shifted forward: B→C(+1), A→B(+1), N→O(+1), K→L(+1); so L→M, O→P, A→B, N→O = MPBO.