GK Banking Awareness Quiz and Answer - Questions … | 1 For More Information Please Visit GK Banking Awareness Quiz and Answer 1. _____ is the rate at which commercial banks charge

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GK Banking Awareness Quiz and Answer

1. ______ is the rate at which commercial banks charge on their surplus funds with RBI.

A. Repo Rate

B. Reverse Repo Rate

C. Interest Rate

D. Bank Rate

Answer: Option B

2. _________ is the amount a commercial bank needs to maintain in the form of cash, or gold or

government approved securities (Bonds) before providing credit to its customers.

A. SLR

B. CRR Term

C. Deposit Rate

D. Call Money

Answer: Option A

3. Reserve Bank of India was nationalized in:

A. 1946

B. 1947

C. 1948

D. 1949

Answer: Option D

4. _________ is the amount of cash funds that the banks have to maintain with RBI.

A. Mortgage Rate

B. Base Rate

C. Cash reserve Ratio

D. None of the above

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Answer: Option C

5. _________ is the rate of interest which is levied on Long-Term loans and Advances taken by

commercial banks from RBI

A. Fixed Interest Rate

B. Bank Rate

C. Fixed Deposit Rates

D. Repo Rate

Answer: Option B

6. SEBI is a _________

A. Constitutional body

B. Statutory body

C. Non statutory body

D. Advisory body

Answer: Option B

7. What does FII stands for?

A. Foreign Institutional Investor

B. France Institutional Investor

C. Forestry Innovation Investment

D. Foreign Indirect Investment

Answer: Option A

8. FDI stands for?

A. Foreign Diverse Investment

B. Foreign Dealers in India

C. Frequent Direct Interest

D. Foreign Direct Investment

Answer: Option D

9. A bearer cheque can also be called as –

A. Order cheque

B. Closed cheque

C. Open cheque

D. Crossed cheque

Answer: Option C

10. The 1,750MW Demwe mega-dam project is proposed to be built on _______ river.



A. Meghna

B. Tapti

C. Brahmaputra

D. Lohit

Answer: Option D

11. Which of the following statement is incorrect?

A. Reserve Bank requires banks to obtain introduction while opening any type of account to

check benami transactions.

B. Bankers have an old practice of obtaining introduction particularly in current accounts so as

to be eligible to get protection under section 131 of the Negotiable Instrument Act,1881.

C. Banks obtain introduction while opening an account so as to protect themselves against

frauds etc. Because the introduction is liable for the acts of the customer.

D. All of the above

Answer: Option C

12. In Banking terminology, NPA means

A. Non-Promise Account

B. Non-Personal Account

C. Non-Performing Asset

D. Net-performing Asset

Answer: Option C

13. Which of the following schemes has been launched for providing health services in rural

areas?

A. Operation Flood

B. Look East

C. SJSRY

D. ASHA

Answer: Option D

14. For individual households, the loan limit is for renewable energy under priority sector

______ per borrower.

A. Rs. 5 lakh

B. Rs. 10 lakh

C. Rs. 15 lakh

D. Rs. 20 lakh

Answer: Option B



15. Bank loans up to ____ per unit to Micro and Small Enterprises under priority sector.

A. Rs. 1 crore

B. Rs. 2 crore

C. Rs. 3 crore

D. Rs. 5 crore

Answer: Option D

16. Bank loans up to ____ per unit to Medium Enterprises under priority sector.

A. Rs. 10 crore

B. Rs. 18 crore

C. Rs. 15 crore

D. Rs. 20 crore

Answer: Option A

17. Loans to individuals for educational purposes including vocational courses up to _______

irrespective of the sanctioned amount are eligible for classification under priority sector.

A. Rs. 5 lakh

B. Rs. 10 lakh

C. Rs. 15 lakh

A. Rs. 20 lakh

Answer: Option B

18. Loans to individuals up to ______ in metropolitan centers (with the population of ten lakh

and above) under priority sector.

A. Rs. 25 lakh

B. Rs. 18 lakh

C. Rs. 15 lakh

D. Rs. 28 lakh

Answer: Option D

19. Loans up to _______ in other centers for purchase/construction of a dwelling unit per

family under priority sector.

A. Rs. 20 lakh

B. Rs. 18 lakh

C. Rs. 15 lakh

D. Rs. 28 lakh

Answer: Option A



20. Those amounts due to vendors or suppliers that must be paid within one year are known

as ___________?

A. Debtors

B. Creditor

C. Accounts Payable

D. Current Assets

Answer: Option C

21. Short-term assets, representing amounts due to a vendor or suppliers of goods or

services that were sold on credit terms is known as ______?

A. Account Receivable

B. Current Liabilities

C. Fixed Asset

D. None of the Above

Answer: Option A

22. ______ is the rate of interest which is levied on Short-Term loans taken by commercial

banks from RBI.

A. Bank Rate

B. Reverse Repo Rate

C. Base Rate

D. Repo Rate

Answer: Option D

23. Press Freedom Day is observed on –

A. 1st May

B. 3rd May

C. 21st May

D. 31st May

Answer: Option B

24. Which of the following schemes have been launched for the school-going children?

A. Lok Jumbish

B. Mid-Day Meal

C. AYUSH

D. SarvaShikshaAbhiyan

25. ‘Sugam’ is a scheme launched for



A. Small tax payers

B. Pensioners getting old age pension

C. Big corporate houses

D. Getting all sorts of permission

Answer: Option A

26. What is the full form of ‘ULIP’, the term which was in the news recently?

A. Universal Life & Investment Plan

B. Unit Loan & Investment Plan

C. Unit Linked Insurance Plan

D. Uniformly Loaded Investment Plan

Answer: Option C

27. Which of the following is NOT a banking related term?

A. Radiation

B. Outstanding Amount

C. Explicit Guarantee

D. Benchmark Prime Lending Rate

Answer: Option A

28. Insurance service provided by various banks is commonly known as ______

A. Investment banking

B. Portfolio management

C. Merchant banking

D. Bancassurance

Answer: Option D

29. Which of the following is NOT true when the interest rate in the economy goes up?

A. Saving increases

B. Lending decreases

C. Cost of production increases

D. Return on capital increases

Answer: Option D

30. Rate of interest is determined by:

A. The rate of return on the capital invested

B. Central Government

C. Liquidity preferences



D. Commercial Banks

Answer: Option D

31. Which bank was earlier called the “Imperial Bank of India”?

A. RBI

B. SBI

C. UBI

D. PNB

Answer: Option B

32. The Reserve Bank of India was established on _______.

A. April 1, 1935

B. July 12, 1982

C. May 26, 2006

D. September 30, 2005

Answer: Option A

33. Who works as RBI's agent at places where it has no office of its own?

A. State Bank of India

B. Ministry of Finance

C. Government of India

D. International Monetary Fund

Answer: Option A

34. Which of the following is true about the functions performed by RBI? (i) It is the Bank of

Issue (ii) It acts as banker to the Government (iii) It is the banker of other banks (iv) It

regulates the flow of credit

A. Both (i) and (ii)

B. Both (iii) and (iv)

C. All the above

D. None of the above

Answer: Option C

35. What does 'Nomination' for a deposit account in the bank mean?

A. Mandate was given by the close relatives of the depositor to settle the death claim in case of

death of the depositor

B. Mandate decided by the bank to settle the death claim of its depositor



C. Mandate of the depositor in favor of one or more persons to claim the amount on death of

the depositor

D. Mandate of the depositor in favor of a close relative who can claim the amount on death of

the depositor

Answer: Option D

36. When were the draft guidelines for building grievance redressal mechanism within

NBFCs (Non-Banking Financial Companies) published?

A. April 5, 2006

B. May 26, 2006

C. June 29, 2007

D. September 30, 2005

Answer: Option B

37. Which subsidiary bank was merged with the State Bank of India on August 13, 2008?

A. State Bank of Hyderabad

B. State Bank of Indore

C. State Bank of Mysore

D. State Bank of Saurashtra

Answer: Option D

38. When did the government acquire RBI's shareholding (72.5%) in NABARD?

A. May, 2008

B. June, 2008

C. August, 2008

D. March, 2009

Answer: Option B

39. When did the Government of India set up the Export-Import Bank of India?

A. January, 1982

B. January, 1993

C. March, 1971

D. June, 1969

Answer: Option A

40. When did the National Housing Bank start its operations?

A. July, 1982

B. July, 1988



C. April, 1980

D. March, 1971

E. Answer:

Answer: Option B

41. When did the Government initiate the process of amalgamation of RRBs in a phased

manner?

F. September, 2005

G. March, 2009

H. June, 2009

I. March, 2010

Answer: Option B

42. Union Minister of State for Atomic Energy for Space is ___________

A. Piyush Goyal

B. Dr. Jitendra Singh

C. V. K. Singh

D. Maneka Gandhi

Answer: Option B

43. Commercial arm of ISRO is ______

A. ANTRAX

B. ANTRIX

C. ANTROX

D. ANDROID

Answer: Option B

44. New TRAI (Telecom Regulatory Authority of India) Chairman is _________

A. R. S. Sharma

B. K. V. Chowdary

C. Prashant Pathrabe

D. Prof Sanghmitra Bandyopadhyay

Answer: Option A

45. ISRO achieved a huge milestone as it successfully tested latest and most powerful

cryogenic engine for 800 seconds on 20th July 2015. This full duration test was performed

successfully at _________

A. Thumba, Kerala



B. Sriharikota, Andhra Pradesh

C. Chandipur, Odisha

D. Mahendragiri, Tamilnadu

Answer: Option D

46. "Father of Indian Missile Science" is ______

A. A. P. J. Abdul Kalam

B. P. K. Iyengar

C. C. V. Raman

D. Sir Jagadish Chandra Bose

Answer: Option A

47. The list of Important days given. Locate the correct option?

A. National Broadcasting Day - 23rd July

B. World Blood Donors Day - 14th June

C. National Doctor's Day - 1st July

D. All of these

Answer: Option D

48. On 25th July 2015, to ensure round the clock electricity supply to farmers and rural

households, "Deen Dayal Upadhyaya Gram Jyoti Yojana" launched at _______

A. Suratgarh

B. Patna

C. Varanasi

D. New Delhi

Answer: Option B

49. The ICC World Twenty 20 cup 2016 hosts by _________

A. India

B. Bangladesh

C. Sri Lanka

D. England

Answer: Option A

50. Trophy and Sport / Game event given, Pick the correct combination.

A. Cricket - ICC World Cup, Ashes cup, Ranji Trophy, Deodhar Trophy, Duleep Trophy, Irani

Trophy

B. Football - FIFA cup, Durand Cup, Rovers Cup, Santosh Trophy, Subroto Cup



C. Hockey - Agha Khan Cup, Beighton Cup, Dhyan Chand Trophy, Murugappa Gold Cup

D. All of above

Answer: Option D

51. Who is the winner of Tour De France 2015?

A. Alejandro Belmonte (Spain)

B. Chris Froome (Kenyan born British)

C. Vincenzo Nibali (Italy)

D. Fabian Cancellara (Switzerland)

Answer: Option B

52. Which of the following categories under priority sector?

A. Micro, Small and Medium Enterprises

B. Education

C. Housing

D. All of these

Answer: Option D

53. Bank loans up to a limit of ______ per borrower for building social infrastructure under

priority sector.

A. Rs. 1 crore

B. Rs. 2 crore

C. Rs. 3 crore

D. Rs. 5 crore

Answer: Option D

54. Bank loans up to a limit of _____ to borrowers for purposes like solar based power

generators under priority sector.

A. Rs. 10 crore

B. Rs. 18 crore

C. Rs. 15 crore

D. Rs. 20 crore

Answer: Option C

55. While opening an account for a minor, his date of birth should be recorded in:

A. Account opening form

B. Specimen signature card

C. ledger folio



D. All of these

Answer: Option D

56. Which of the following would you accept as means of introduction of a savings/time

deposit account?

A. A passport

B. Identity card issued by a government department, the municipality, educational institution,

or defense services

C. Postal Identification card

D. Driving Licence

E. All of these

Answer: Option E

57. A banking account cannot be open in the case of:

A. minors

B. illiterates

C. Physically handicapped person

D. undischarged insolvent

Answer: Option D

58. An account is classified as dormant/inoperative when no transactions are made during

last

A. 4 months

B. 6 months

C. 1 year

D. 2 years

Answer: Option D

59. Who is primarily liable on a promissory note?

A. Holder

B. Endorser

C. Maker

D. Drawee

Answer: Option C

60. Which of the following cannot be declared as insolvent?

A. Minors

B. Lunatics



C. Corporations

D. All of these

Answer: Option D

61. What does the letter ‘L’ denote in the term ‘LAF’ in the below-mentioned options, as

referred every now and then in relation to the monetary policy of the RBI?

A. Liquidity

B. Liability

C. Leveraged

D. Longitudinal

Answer: Option A

62. What does the term B2B stand for in E-commerce?

A. It means trade between business to business

B. The deals between business to bank

C. It suggests transactions between banks and capitalists

D. All of the above

Answer: Option A

63. The word ‘Bank is derived from which of the following mentioned options:

A. German word ‘back’ which means ‘a joint stock fund’

B. Italian word ‘banco’

C. words ‘bancus’ or ‘banque’ which means ‘a bench'

D. All of the above

Answer: Option D

64. Which of the following mentioned options below is not an example of primary securities?

A. Bills

B. Bonds

C. Shares

D. Book debts

E. New currency

Answer: Option E

65. In our country, for many months the cheque remains valid after the date of issue?

A. 3 months

B. 6 months

C. 9 months



D. 12 months

Answer: Option A

66. Securities and Exchange Board of India, is described among which of the following

statements?

A. SEBI is the regulator for the capital markets

B. SEBI protects the interest of investors

C. SEBI is for ethical practices

D. All of the above

Answer: Option D

67. Which of the following mentioned options below is not a money market instrument?

A. Treasury Bills

B. Commercial Paper

C. Certificate of Deposit

D. Equity Share

Answer: Option D

68. Among which of the following Ministries, Department of Economic Affairs is passed for?

A. Ministry of Home Affairs

B. Ministry of Rural Development

C. Ministry of Planning

D. Ministry of Heavy Industries and Public Enterprises

E. None of the Above

Answer: Option E

69. Among the following mentioned options, poor children use which of the following

options as there “saving bank”?

A. Core banking

B. Credit banking

C. Debit banking

D. Merchant banking

E. Piggy banking

Answer: Option E

70. Among the following mentioned options, Reverse Repo is a tool used by RBI to

A. Inject liquidity

B. Absorb liquidity



C. Increase the liquidity with banking system

D. To keep the liquidity at one level

Answer: Option B

71. Indian Space Research Organization (ISRO) on June 05, 2017 launched its monster

Rocket GSLV MK III with 3136kg communication satellite GSAT_19 from Sriharikota in

Andhra Pradesh. ‘GSLV’ stands for:

A. GEOSYNCHRONOUS SATELLITE LAUNCH VEHICLE

B. GEOSYNCHRONOUS SATELLITE LAUNCH VEHICLE

C. GEO SATELLITE LIGHT VEHICLE

D. GROUND SATELLITE LAUNCH VEHICLE

Answer: Option B

72. The reduce the NPA burden, Andhra Bank has Proposed to sell off more than 100 bad

loan accounts to ARCs. What will be the amount that will be realized by the bank through

this sale?

A. Rs. 500 Crore

B. Rs. 1000 Crore

C. Rs. 2000 Crore

D. Rs. 4000 Crore

Answer: Option D

73. Most of the public sector banks including SBI Plan to raise Rs…………….Crore through

share sale during the current fiscal to meet BASEL III Norms, which will kick start from

march 2019

A. 54, 000 Crore

B. 55, 000 Crore

C. 58, 000 Crore

D. 45, 000 Crore

Answer: Option C

74. Reserve Bank of India, on June 7, 2017 announced policy rates. While the policy repo rate

remained unchanged at 6.25% the RBI cut Banks statutory Liquidity Ratio by …….. basis

Points.

A. 10

B. 35

C. 30

D. 50

Answer: Option D



75. The Union Cabinet, on June 7, 2017 approved an IPO by the Indian Renewable Energy

Development Agency (IREDA). It approved the issue of how many crore equality shares of

Rs.10 each?

A. 15.0 Crore

B. 14. 0 Crore

C. 13.9 Crore

D. 12. 9 Crore

Answer: Option C

76. Who is the chairman of NITI Aayog?

A. Mr. Arun Jaitley

B. Mr. Chandra Babu Naidu

C. Mr. Narendra Modi

D. Mr. Rajnath Singh

Answer: Option C

77. How much was the FDI inflows into India in 2016 as per the UNCTAD Report?

A. $ 39 Billion

B. $ 40 Billion

C. $ 44 Billion

D. $ 42 Billion

Answer: Option C

78. The Reserve Bank of India Deputy Governor B.P Kanungo announced that ………….. of

currency that was in the banking system prior to demonetization had returned to circulation

ad remonetization

A. 77%

B. 78%

C. 79%

D. 80%

E. 82.6%

Answer: Option E

79. Head Quarter of ABN AMRO Bank is in which Indian State?

A. Kerala

B. Tamil Nadu

C. Andhra Pradesh

D. Karnataka



Answer: Option B

80. “ Payzapp” application launched by which of the private sector Bank?

A. IDBI Bank

B. HDFC Bank

C. Axis Bank

D. ICICI Bank

Answer: Option B

Sr. No. Total Number

1. Quiz 80

2. Page 17

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GK Banking Awareness Quiz and Answer - Questions … | 1 For More Information Please Visit GK Banking Awareness Quiz and Answer 1. _____ is the rate at which commercial banks charge