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Banking Awareness Quiz 50

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Banking Awareness Quiz 50

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 the 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 Quiz 50 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 Quiz 50 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. Cash Reserve ratio is the deposit to be held by banks with ________.
    A. Banks B. RBI C. Government of India D. Either Banks or RBI

Answer: Option B
Explanation: Banks have to maintain CRR with the RBI
2. Depositories hold securities in _______ form.
    A. Physical B. Trusted C. Commercial D. Demat

Answer: Option D
3. What does REPO stands for in banking?
    A. Requirement Payment Order B. Repurchase C. Responsive Payment Order D. Required Purchase

Answer: Option B
Explanation: A repurchase agreement (repo) is a form of short-term borrowing for dealers in government securities.
4. Leasing, hire purchase and bill discounting are the domain of _______
    A. Mutual Funds B. SEBI C. Commercial Banks D. NBFCs

Answer: Option D
Explanation: These are the functions of NBFCs
5. Which of the following is not managed by RBI for India?
    A. Currency B. Stock Exchange C. Foreign Exchange D. Government Accounts

Answer: Option B
Explanation: Stock Exchange is the domain of SEBI
1. What does LAF stands for?
    A. Location Adjustment Function B. Liquidity Adaption Function C. Listed Absorption Facility D. Liquidity Adjustment Facility

Answer: Option D
2. Which of the following cannot be the part of SLR?
    A. Cash B. Gold C. Investment in Government Securities D. Commercial Papers

Answer: Option D
Explanation: Cash, Golds and Govt Securities can be a part of SLR.
3. In which year was the Market Stabilization Scheme introduced?
    A. 2000 B. 2002 C. 2004 D. 2006

Answer: Option C
4. Which of the following is not under the regulation/supervision of RBI?
    A. Private Banks B. NBFCs C. RRBs D. All are either regulated/supervised by RBI

Answer: Option D
5. A commercial bank is designated as a lead bank in each ______ of the country.
    A. zone B. taluka C. district D. panchayat

Answer: Option C
1. Three out of the given options serve as both Identity proof as well as address proof. Pick the odd one out.
    A Aadhaar card B Driving License C Passport D PAN Card

Answer: Option D
Explanation: PAN Card serves as an Identity proof only. Not as an address proof.
2. In case of ‘Small Account’, the balance at any point of time should not exceed Rs__________.
    A. Rs 1 lakh B. Rs 10,000 C. Rs 50,000 D. Rs 25,000

Answer: Option C
Explanation: A ‘small account’ means a savings account in a banking company where the aggregate of all credits in a financial year does not exceed rupees one lakh; the aggregate of all withdrawals and transfers in a month does not exceed rupees ten thousand; and the balance at any point of time does not exceed rupees fifty thousand.
3. An account type offered by banks which help people with regular incomes to deposit a fixed amount every month for the purpose of saving and earn decent returns on their investment is known as____________
    A. Savings Account B. Recurring Deposit account C. Fixed Deposit Account D. Current Account

Answer: Option B
4. Which among the given inter-bank electronic funds transfer system enables money transfer service 24/7 throughout the year including bank holidays?
    A. IMPS B. RTGS C. NEFT D. All the above

Answer: Option A
5. The individuals/entities appointed by a bank as its agent for providing banking services in unbanked / under-banked geographical territories is known as___________
    A. Bancassurance B. Bank Identifier C. Banking Ombudsmen D. Business Correspondents

Answer: Option D

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