GK - Banking & Insurance - SPLessons
boy2

Banking Awareness Practice Set 3

Home > > Tutorial
SPLessons 5 Steps, 3 Clicks
5 Steps - 3 Clicks

Banking Awareness Practice Set 3

shape Introduction

Banking Awareness is an important section in the employment-related competitive exams in India. In particular, exams like IBPS, SBI and other bank related employment exams have banking awareness questions along with general awareness section. The Banking Awareness section primarily has questions related to the History of Banking, Banking Terms, Banking Products, Functions of Banks, Banks and their Taglines, Schemes, Committees related to Banking, Headquarters of Banks, most recent Banking News, Apps launched by Banks, New Schemes, Monetary Policies etc.
Banking Awareness Practice Set 3 article provides the list of several bank related questions to prepare aspirants of different competitive exams in India, primarily for banking related employment. The article Banking Awareness Practice Sets 3 is very useful for different exams such as IBPS PO, Clerk, SSC CGL, SBI PO, NIACL Assistant, NICL AO, IBPS RRB, Railways, Civil Services etc.

shape Quiz

1. When was the RBI Act enacted?
    A. [latex]1^{st}[/latex] April 1935 B. [latex]2^{th}[/latex] November 1934 C. [latex]6^{th}[/latex] March 1934 D. [latex]31^{st}[/latex] March 1935

Answer: Option C
2. What can be the maximum denomination of notes as per the Section 24 of the RBI Act?
    A. Rs 10,000 B. Rs 50,000 C. Rs 1,00,000 D. No such limit exists

Answer: Option A
3. Which section of the RBI Act allows the RBI to form rules regarding the exchange of damaged and imperfect notes?
    A. 17 B. 21 C. 28 D. 42

Answer: Option C
4. Which section of the RBI allows the RBI to provide loans to banks and state financial corporations?
    A. 17 B. 18 C. 19 D. 20

Answer: Option A
5. Which section of RBI is not correctly matched?
    A. Section 26 - describes the legal tender character of Indian bank notes. B. Section 18 - manner in which RBI can conduct business C. Both a and b D. None

Answer: Option B
1. Which section of RBI Act states that the RBI has the exclusive rights to issue currency notes in India?
    A. 17 B. 19 C. 21 D. 22

Answer: Option D
2. Which schedule of Reserve Bank of India Act, 1934 contains the list of Scheduled Banks in India?
    A. [latex]1^{st}[/latex] B. [latex]2^{nd}[/latex] C. [latex]3^{rd}[/latex] D. [latex]4^{th}[/latex]

Answer: Option B
3. What should be the paid up capital of the bank to be a Scheduled Commercial Bank as per the RBI Act 1934?
    A. Rs 10 lakhs B. Rs 1 crore C. Rs 5 lakhs D. Rs 5 crore

Answer: Option C
4. As per Section 31 of the RBI, who can issue and accept promissory notes that are payable on demand in India?
    A. RBI B. Central Government C. Both a and b D. None

Answer: Option C
5. What is Section 7 of the RBI Act 1934?
    A. It allows RBI to buy and sell Foreign currency B. It empowers the government to issue directions to the RBI C. It allows the RBI to appoint its own staff D. None

Answer: Option B
1. Which entity regulates and supervises NBFCs?
    A. SEBI B. RBI C. Ministry of Finance D. NABARD

Answer: Option B
2. Who is entrusted with the power to lay down instructions to the banks in India for audits?
    A. RBI B. Finance Ministry C. State Government D. None

Answer: Option A
3. When did the Banking Regulation Act come into effect?
    A. [latex]16^{th}[/latex] March 1949 B. [latex]10^{th}[/latex] March 1949 C. [latex]12^{th}[/latex] March 1950 D. [latex]6^{th}[/latex] March 1950

Answer: Option A
4. When did the Banking Regulation Act, 1949 become applicable to the state of Jammu & Kashmir?
    A. 1949 B. 1970 C. 1956 D. 1966

Answer: Option C
5. The Banking Regulation Act was initially passed by what name?
    A. Banking Firms Act, 1949 B. Banking Companies Act, 1949 C. Banking Units Act, 1949 D. None

Answer: Option B

Other Articles

shape Exams

Competitive Exams - College Entrance Exams
Category Notification
Diploma NITC New Delhi Goa Diploma Admissions 2019
Click Here For – All India Entrance Exam Notifications


shape Job-Alerts

Competitive Exams - Recent Job Notifications
Category
Banking SSC Railway
Defence Police Insurance
Click Here For – All India Latest Jobs

shape SP Quiz

Competitive Exams - Practice Sets
Category Quiz
Quant Aptitude Permutation and Combination
Reasoning Ability Direction Sense

shape GK

General Knowledge for Competitive Examinations
Topic Name of the Article
GK - World World Major Airlines
World News Agencies
GK - India Female Labour Force
Various Indian Price Indices
GK - Abbreviations Computer Abbreviations
Computer Aptitude Abbreviations
GK - Banking & Insurance RBI Surplus Transfers
RBI Governors
GK - Science & Technology Human Body Facts
Zoology Terminology
Botany Important Terms
Hide Index Show Index