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Banking Awareness Practice Set 4

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Banking Awareness Practice Set 4

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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 4 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 Set 4 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

Q1. The composition of central board of Reserve Bank of India is defined under Section ___ of RBI Act, 1934
    A. 6 B. 5 C. 7 D. 8
Answer: D
Q2. The business that RBI can carry out is defined under which section of RBI Act, 1934?
    A. 14 B. 15 C. 16 D. 17
Answer: D
Q3. RBI has the right to transact Central Government business in India as per which section of RBI Act, 1934?
    A. 20 B. 21 C. 22 D. 23
Answer: B
Q4. RBI has the right to issue bank note under which section of RBI Act, 1934?
    A. 21 B. 22 C. 23 D. 24
Answer: B
Q5. RBI can withdraw the legal tender of any banknote under which section of RBI Act, 1934?
    A. Section 26 (1) B. Section 26 (2) C. Section 24 (1) D. Section 24 (2)
Answer: B
Q6. Cash Reserve Ratio is defined under which section of RBI Act, 1934?
    A. 40 B. 41 C. 42 D. 43
Answer: C
Q7. Repo and Reverse Repo are defined under which section of RBI Act, 1934?
    A. 43 B. 44 C. 45 D. 46
Answer: C
Q8. Small Finance Banks are licensed under which act?
    A. Companies Act, 2013 B. Banking Regulation Act, 1949 C. Reserve Bank of India Act, 1934 D. Foreign Exchange Management Act, 1999
Answer: B
Q9. Holidays in banks are declared as per which act?
    A. Companies Act, 2013 B. Banking Regulation Act, 1949 C. Reserve Bank of India Act, 1934 D. Negotiable Instruments (NI) Act, 1881
Answer: D
Q10. General Lien of a banker is defined under section ___ of Contract Act, 1872
    A. 152 B. 160 C. 171 D. 176
Answer: C
Q11. What does E stands for in ECCS with respect to cheque clearing?
    A. Enabled B. Express C. Established D. Encrypted
Answer: B
Q12. RRBs should maintain an LTV ratio of 75% on the outstanding amount of loan including the interest on an ongoing basis, failing which the loan will be treated as an NPA. What does L standLiquidity for in LTV.
    A. Liquidity B. Liability C. Loan D. Lien
Answer: C
Q13. FRA and IRS are such instruments which can provide an effective hedge against interest rate risks. What does F stand for in FRA?
    A. Futures B. Forward C. Functionality D. Free
Answer: B
Q14. FRA and IRS are such instruments which can provide an effective hedge against interest rate risks. What does S stand for in IRS?
    A. Settlement B. Short C. Swap D. Skip
Answer: C
Q15. An IBU can become a PCM of the exchange in the IFSC for clearing and settlements in any derivatives segments. What does P stand for in PCM?
    A. Permanent B. Primary C. Public D. Professional
Answer: D


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