Important Banking Awareness Questions

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TOP 100 BANKING AWARENESS QUESTIONS
Important Banking Awareness Questions
1). For using safe deposit locker facilities, bank a) UTR Number
customers pay b) MICR
a) Exchange on locker c) IFSC
b) Commission on locker d) DNS
c) Rent on locker e) None of these
d) Safe custody charges Answer: c)
e) None of these
Answer: c) 8). Per capita income is obtained by dividing
national income by
2). What is the full form of ECB? a) Area of the country
a) External Cooperative Borrowings. b) Total working population
b) Extra Cooperative Borrowings. c) Volume of the capital used
c) External Commercial Borrowings. d) Total population of the country
d) Extra Commercial Borrowings. e) None of these
e) None of these Answer: d)
Answer: c)
9). Which of the following bank has recently
3). Which among the following is NOT a credit launched a new home loan product “Women
rating agencies? Power” with a differential rate of interest
a) Experian exclusively for women customers?
b) CRISIL a) ICICI Bank
c) ICRA b) HDFC Bank
d) FITCH c) IDBI Bank
e) ONICRA d) SBI
Answer: a) e) None of these
Answer: b)
4). The definition of 'Banking' is given in _____
a) Negotiable Instrument Act. 1881 10). Which among the following is a qualitative
b) RBI Act, 1934 tool of monetary policy?
c) The Banking Regulation Act, 1949 a) Bank Rate
d) The Indian Contract Act, 1872 b) Credit Ceiling
e) None of these c) Credit rationing
Answer: c) d) Cash Reserve Ratio
e) None of these
5). Which of the following is the least liquid asset ? Answer: c)
a) Money
b) Shares 11). How many digits are there in Mobile Money
c) Machinery Identifier(MMID)?
d) Special deposits a) 7 digits
e) None of these b) 9 digits
Answer: c) c) 10 digits
d) 11 digits
6). What does cheap rate imply? e) None of the Above
a) Interest are very high Answer: a)
b) Interest rate are very low
c) Interest are medium 12). Which of the following will set up core
d) All of the above banking infrastructure for rural banks ?
e) None of these a) NABARD
Answer: b) b) RBI
c) IDBI
7). RTGS as well as NEFT uses d) SIDBI
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e) None of these 18). Which of the following banks was inaugurated
Answer: a) by Mahatma Gandhi in 1919?
a) Bank of Maharashtra
13). Expand the term FRBM? b) Bank of Baroda
a) Financial Responsibility and Business c) State Bank of Saurashtra
management d) Union Bank of India
b) Fiscal Responsibility and Business e) None of these
management Answer: d)
c) Financial Responsibility and Budget
Management 19). Money lent for 15 days or more in inter-bank
d) Fiscal Responsibility and Budget market is called _____________
Management a) Term Money
e) Formal Responsibility and Business b) Short Term Money
Management c) Call Money
Answer: d) d) Notice Money
e) None of these
14). The Pre Shipment finance is provided by the Answer: a)
banks only to____
a) Importers 20). While discussing investments there is mention
b) Bank Employees of short term government security. What is this
c) Exporters type of investment known as ______________
d) Small Scale Industries a) Debenture
e) Large Scale Industries b) Share
Answer: c) c) Mutual Funds
d) Treasury Bill
15). The tax on import and export is known as e) None of these
a) income tax Answer: d)
b) trade tax
c) custom duty 21). Which bank launched Mobile Bank Accounts
d) commercial tax. in association with Vodafone's m-paisa?
e) None of these a) Bank of Baroda
Answer: c) b) HDFC Bank
c) ICICI Bank
16). Which report is published by World Bank d) Punjab National Bank
every year? e) None of these
a) human development report Answer: b)
b) world development report
c) international finance and development 22). Which was the second bank in India with
report limited liability?
d) world trade development report. a) Punjab National Bank
e) None of these b) Imperial Bank of India
Answer: b) c) New Bank of India
d) State Bank of India
17). Which of the following terms is used in e) None of these
banking field? Answer: a)
a) Interest rate swap
b) Input devices 23). The Headquarters of Islamic Development
c) Sedimentary Bank is _____
d) Zero Hour a) Sohar, Oman
e) None of these b) Kuala Lumpur, Malaysia
Answer: a) c) Jeddah, Saudi Arabia
d) Baghdad, Iraq
e) None of these
Answer: c) 30). Which international organization helps in
prevention of money laundering?
24). Caixa Bank has been headquartered in a) World Bank
__________ b) FATF
a) United Kingdom c) IMF
b) Spain d) ADB
c) Singapore e) None of these
d) South Africa Answer: b)
e) None of these
Answer: b) 31). International Bank for Reconstruction and
Development is related to _____
25). Who headed the committee on Credit a) World Bank
Information Reports (CIRs)? b) ADB
a) Raghuram Rajan c) IMF
b) Kaushik Basu d) Federal Bank
c) K.V Kamath e) None of these
d) Aditya Puri Answer: a)
e) None of these
Answer: d) 32). SLR is maintained by banks on which of the
following _____
26). PJ Naik committee is related to a) Demand and Time Deposits
a) Refinancing weak banks b) Net Demand and Time Deposits
b) Licensing to private bank c) Demand and Time Liabilities
c) Governance of bank boards d) Net Demand and Time Liabilities
d) Privatization of nationalized banks e) None of these
e) None of these Answer: d)
Answer: c)
33). In which year, Nationalization of SBI
27). Bank of Rajasthan was merged with Subsidiaries took place?
a) SBI a) 1955
b) HDFC b) 1966
c) IDBI c) 1959
d) ICICI d) 1969
e) None of these e) None of these
Answer: d) Answer: c)
28). Who is the MD and CEO of IDBI Bank? 34). High powered money is:-
a) P.S. Jayakumar a) bank's reserves at central bank
b) Mahesh Kumar Jain b) all loans and advances of banks.
c) Arun Shrivastava c) money held by banks.
d) Arun Tiwari d) currency held by public and reserves with
e) None of these the central bank.
Answer: b) e) None of these
Answer: a)
29). “Support all the way” is the tagline of
______________ 35). When the banker talks about CDR, what is he
a) HDFC Bank talking about?
b) Citi Union Bank a) Corporate Debt Restructuring
c) Dhanlaxmi Bank b) Corporate Debt Roll over
d) Catholic Syrian Bank c) Company Debt Roll over
e) None of these d) Corporate Deposit Restructuring
Answer: d) e) Company Deposit Restructuring
Answer: a)
42). What is the full form of REER?
36). What does FCCB stand for? a) Real Earning Emergent Ratio
a) Foreign Currency Convertible Bond b) Real Elective Effective Ratio
b) France Currency Convertible Bond c) Real Effective Exchange Rate
c) Freight Currency Convertible Bond d) Role Effective Earned Rate
d) All of these e) None of these
e) None of the Above Answer: c)
Answer: a)
43). In India, forex rates are determined by
37). Which among the following is at times a) Exporters
mentioned as a kind of Direct Debit Facility? b) Demand and supply forces
a) RTGS c) Importers
b) ECS d) All of these
c) NEFT e) None of these
d) All of these Answer: b)
e) None of the Above
Answer: b) 44). _________ is a way of transferring personal
remittances from abroad to beneficiaries in India
38). SEPA Stands for ______ a) RDA
a) Scottish Environment Protection Agency b) MTSS
b) Single Euro Payments Area c) Both (A) and (B)
c) Scottish Environment Protection Area d) All of the Above
d) Single Euro Payments Agency e) None of the Above
e) None of the Above Answer: b)
Answer: b)
45). How many members are there in FATF?
39). Which of the following is the most active a) 42
segment of the money market in India? b) 43
a) Commercial Paper(CP) c) 40
b) Certificate of Deposit(CD) d) 37
c) Call Money e) 39
d) All of the above Answer: d)
e) None of the Above
Answer: c) 46). A fixed deposit receipt is kept with the bank
for its safety, is known as ___?
40). In which of the following cities, The Head a) Safe custody
Office of FICCI is located? b) Safe deposit
a) Hyderabad c) Locker
b) Chennai d) Valid safe deposit
c) Kolkata e) None of these
d) Mumbai Answer: a)
e) New Delhi
Answer: e) 47). Crypto currency is a _______ .
a) Plastic Money.
41). Loans of very small amounts given to low b) Digital Medium of Exchange
income groups is called ________ c) Digital payment
a) Cash credit d) Both A & B
b) Micro credit e) None of these
c) Simple overdraft Answer: b)
d) No frills loans
e) Rural credit 48). Banking in India is controlled by:
Answer: b) a) Reserve Bank of India
b) Union Finance Commission
c) Union Ministry of Finance b) 4
d) Union Ministry of Commerce c) 5
e) None of these d) 10
Answer: a) e) None of these
Answer: b)
49). After State Bank of India, which of the
following banks has the largest number of offices? 55). Service Area Approach (SAA) is associated
a) Punjab National Bank With?
b) Bank of India a) Development banks
c) Andhra Bank b) Branches of commercial banks situated in
d) Canara Bank metro cities
e) None of these c) Urban branches of commercial banks
Answer: a) d) Rural and Semi-urban branches of
commercial banks
50). Which of the following terms is used in e) None of these
banking field? Answer: d)
a) Interest rate swap
b) Input devices 56). Generally, what is the designation of head of
c) Sedimentary public sector undertakings (PSUs) and PSU banks
d) Zero Hour in India?
e) None of these a) President
Answer: a) b) Chairman cum Managing Director
c) Chairman
51). Sukanya Samriddhi Yojana was launched in d) Director General
which year? e) None of these
a) 2016 Answer: b)
b) 2015
c) 2014 57) . If the Cash Reserve Ratio (CRR) is lowered
d) 2013 by the RBI, its impact on credit creation will be:
e) None of these a) Increase
Answer: b) b) Decrease
c) No impact
52). The Definition of „Banking‟ is given in d) All of these
_______ e) None of the above
a) Negotiable Instrument Act, 1881 Answer: a)
b) RBI Act, 1934
c) The Banking Regulation Act, 1949 58). The Imperial Bank of India, after its
d) Indian Contract Act, 1872 nationalization came to be known as
e) None of the Above a) Reserve Bank of India
Answer: c) b) State Bank of India
c) United Bank of India
53). On a Cheque instead of two parallel lines only d) Indian Overseas Bank
bank‟s name is written is known as _________ e) None of these
a) Payable to bearer Answer: b)
b) General Crossing
c) Special Crossing 59). Which of the following rates are reviewed by
d) Both (B) and (C) the RBI at the time of periodical review of the
e) None of the Above policy?
Answer: c)  Bank rate
 Repo rate
54). How many Deputy Governors are there in  Savings bank rate
RBI? a) Only 1
a) 2 b) Only 2
c) Both 1 and 2 c) HDFC Bank
d) All the three d) SBI
Answer: d) Answer: a)
60). Expand the term LIBOR as used in financial 66). What is the full form of FATCA?
banking sectors? a) Forex Account Tax Compliance Act
a) Local Indian Bank Offered Rate b) Foreign Account Tax Compliance Act
b) London-India Bureau Of Regulations c) Forex Account Total Compliance Act
c) Liberal International Bank Official Ratio d) Foreign Account Total Compliance Act
d) London Inter Bank Offered Rate e) None of these
e) None of these Answer: b)
Answer: d)
67). Interest payable on savings bank accounts is-
61). Cash kept in the currency chest is owned by? a) decided by banks without following any
a) Currency Chest branch bank conditions by RBI.
b) State Bank of India b) not regulated by RBI.
c) Central Government c) regulated by central government.
d) Reserve Bank of India d) decided by banks following the guidelines
e) None of these of RBI
Answer: d) e) None of these
Answer: d)
62). Which bank has acquired the Sharekhan.com-
broking and trading company? 68). The appointments of Banking Ombudsman
a) HSBC will be carried out by which of the following?
b) BNP Paribas a) Finance Ministry
c) Deutsche Bank b) RBI
d) ING Vysya c) Govt. of India
e) None of these d) SEBI
Answer: b)
63). Which of the following institution is meant for
small and medium enterprises? 69). If the rate of inflation increases then the-
a) RBI a) purchasing power of money increases.
b) SIDBI b) purchasing power of money decreases.
c) IFCI c) purchasing power of money remains
d) NABARD uneffected.
e) None of these d) All of these
Answer: b)
64). Which of the following is the first commercial
bank ? 70). In India, National income is estimated by ?
a) State bank of India a) Planning Commission
b) Oudh Commercial Bank a b) Indian Statistical Institute
c) Union Bank of India c) Central Statistical Office
d) Indian Bank d) National Sample Survey Organisation
e) None of the above e) None of these
Answer: b) Answer: c)
65). Which bank has launched the fist contactless 71). Medium-term industrial finance refers to the
debit, credit and multi-currency forex card? funds required for a period of one year to
a) Axis Bank ________
b) ICICI Bank a) 6 years
b) 2 years
c) 3 years 77). Which of the following scheme was formulated
d) 4 years by RBI?
e) 5 years a) Banking Ombudsman Scheme
Answer: e) b) Jan Dhan Yojana
c) MUDRA Bank Yojana
72). What does the acronym IFCI mean? d) Boutique Financing Scheme
a) International Finance Corporation of India e) None of these
b) Industrial Finance Corporation of India Answer: a)
c) Institute of Financial Consultants of India
d) Industrial Finance Council of India 78). A transfer of money from a migrant worker to
e) None of these their families or other individuals in their home
Answer: b) countries is known as _________
a) Inward Remittance
73). Banks are required to provide loans to the b) Foreign Remittance
priority sector upto a specified limit. What is the c) Commercial banking
limit for public sector bank? d) Wholesale banking
a) 50% e) None of these
b) 20% Answer: b)
c) 40%
d) 10% 79). While discussing investments there is mention
e) None of these of short term government security. What is this
Answer: c) type of investment known as ______________
a) Debenture
74). Which of the following bank has its b) Share
headquarters in Tamil Nadu? c) Mutual Funds
a) Dhanalakshmi Bank d) Treasury Bill
b) Karur Vysya Bank e) None of these
c) South Indian Bank Answer: d)
d) Catholic Syrian Bank Ltd
e) None of these 80). Regional rural banks are managed by ______?
Answer: b) a) The Central Government
b) Sponsored Bank
75). Industrial Finance Corporation of India, is an c) The State Government
Indian government owned ______ d) All of the above
a) Private Bank e) None of the above
b) Scheduled Bank Answer: d)
c) Development Bank
d) All of these 81). Which of the following is a fully owned
e) None of these subsidiary of RBI?
Answer: c) a) NABARD
b) SIDBI
76). If a crossed cheque is presented for payment c) IDBI
______________ d) NHB
a) It can be paid across the counter in another e) None of these
bank Answer: d)
b) Cash can be paid across the counter to the
presenter 82). Which of the following has become the first
c) It can be paid only through a banker Indian lender to complete a banking transaction
d) Cash can be paid across the counter to the using Blockchain technology?
presenter a) HDFC Bank
e) None of these b) ICICI Bank
Answer: c) c) Axis Bank
d) Federal Bank b) UNCTAD
e) YES Bank c) International Monetary Fund
Answer: b) d) World Bank
e) None of these
83). The main mandate of Payments Banks is to Answer: a)
offer which of the following?
a) Lending services 89). Service Area Approach (SAA) is associated
b) Credit cards With?
c) Bancasurance service a) Development banks
d) Remittance services b) Branches of commercial banks situated in
e) None of these metro cities
Answer: d) c) Urban branches of commercial banks
d) Rural and Semi-urban branches of
84). Under the RBI,s SDR scheme, banks can commercial banks
convert their loans into equity, acquire a majority e) None of these
stake in the firm and bring in new promoters, Here Answer: d)
the term SDR means
a) Systematic Debt Restructuring 90). When was the 2nd phase of nationalization of
b) Special Debt Restructuring banks done?
c) Supplementary Debt Restructuring a) 15th April 1980
d) Strategic Debt Restructuring b) 25th june 1969
e) None of these c) 20th Aug. 1979
Answer: d) d) 15th Aug. 1980
e) None of these
85). What is “Stagflation”? Answer: a)
a) inflation with growth
b) deflation with growth 91). The object of introducing base rate by RBI
c) inflation after deflations is_____.
d) inflation with depression (A) Enhancing transparency in lending rates of banks
e) None of the above (B) Enabling better assessment of transmission of
Answer: c) monetary policy
(C) Keeping interest rates low
86). Usually, the validity period of an Income Tax a) A and B
Refund Order is? b) Only C
a) 1 months c) Only B
b) 2 months d) All of above
c) 3 months e) None of these
d) 6 months Answer: a)
e) None of the above
Answer: c) 92). What is the full form of LERMS ?
a) Liberalised Exchange Rate Management
87). Money laundering is related to ------------------- System
--------- b) Long Elimination Reserve Management
a) To reduce the number of families which System
lives below poverty line c) Liberalised Extended Related Management
b) To reduce the NPA of Banks Stock
c) To reduce the Black Money d) Linguistic Exchange Reserve Management
d) To reduce the unemployment rate. Scenario
Answer: c) Answer: a)
88). NAMA word is related to which organisation ?

a) World Trade Organisation
93). Certificate of Deposit (CDs) and Commercial
Paper (CPs) are the instruments widely used in 97). SEBI is related to _________.
which of the following financial sector market..? a) Bank
a) Credit Market b) Government of India
b) Stock Market c) Share Market
c) Corporate Debt Market d) State Government
d) Money Market e) None of the above
e) Forex Market Answer: c)
Answer: d)
98). Foreign Currency which has a tendency of
94). To authenticate a Digital Signature in Cheque quick migration is called-
Truncation System (CTS), which of the following a) Fiat Currency
keys are used.. b) Soft Currency
a) Private Key c) Token Currency
b) Public Key d) Hot Currency
c) Master Key e) None of the above
d) All of these Answer: d)
e) None of these
Answer: a) 99). The term „Paper Gold‟ means
________________________
95). Payment of a cheque cannot be made on a a) Paper with gold coating
cash counter of the bank if the cheque is:- b) Gold Currency
a) bearer c) Paper currency
b) cross d) Special drawing rights of the IMF
c) order e) None of these
d) All of the above Answer: d)
e) None of these
Answer: b) 100). Current deposits are also known as
_______________
96). The nature of convertibility of the Indian a) Time Deposits
Economy is ______. b) Demand Deposits
a) Convertibility at capital account c) Recurring Deposits
b) Convertibility at trade account d) Fixed Deposits
c) Free Convertible e) None of these
d) Convertibility at current account Answer: b)
e) None of these
Answer: d)
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88). NAMA word is related to which organisation ?

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