Mar 15, 2016

Banking Knowledge - Banking Awareness Questions Answers

Banking Knowledge

1. KYC means
(1) Know your Company
(2) Know your Customer
(3) Know your Currency
(4) Know your Creditors
(5) None of these

2. The maximum amount of the total Revenue earned by the government of India comes from
(1) Income Tax
(2) Custom Tax
(3) Excise Duty
(4) Value Added Tax
(5) Corporate Tax

3. Financial Inclusion’s is the latest powerful tool adopted by Reserve Bank of India, to fulfill the basic objective of
(1) Uplifting of population lying Below Poverty Line
(2) Connecting every Indian to the Country’s Banking System
(3) Ensuring bank finance to all the landless agriculturists
(4) Overall financial growth backed by inflation control
(5) Inclusion of latest technology on Financial Sector of the Country

4. Which bank is the Bankers to the Central Government?
(1) Central Bank of India
(2) Reserve Bank of India
(3) Punjab National Bank
(4) State Bank of India
(5) All of these

5. The higher rate of growth of economy certainly reduces the
(1) Gender inequalities
(2) Poverty
(3) Population of a country
(4) Flow of foreign direct investment
(5) None of these



6. RBI’s policy stance to manage interest and liquidity are used for
(1) Moderate inflation and maintain economic growth
(2) Moderating competition among private and public sector banks
(3) Eradicate unemployment in public sector
(4) Moderate currency supply in public hands
(5) Moderate deposits in public sector banks

7. In India interest rate on savings bank accounts in all nationalized commercial banks is fixed by
(1) Union Ministry of Finance
(2) Union Finance Commission
(3) Indian Banks Association
(4) Reserve Bank of India
(5) All the banks decide together

8. What is Repo Rate?
(1) It is a rate at which RBI sells government securities to banks
(2) It is a rate at which RBI allows small loans in the market
(3) It is a rate at which banks borrow rupees from RBI
(4) It is a rate which offered by Banks to their most valued customers or prime customers
(5) None of these

9. NPA in banking terminology denotes
(1) New Para-banking Assets
(2) Net Profitable Assets
(3) Net Performing Assets
(4) Non-performing Assets
(5) New Pension Act

10. When a customer draws a cheque on a bank
(1) It is a mandate on that bank to pay
(2) It is a mandate on the Government to pay
(3) It is a mandate on the State Government to pay
(4) It is a mandate on RBI to pay
(5) It is a mandate on the Finance Ministry to pay

11. A nationalized bank is also called by the following name
(1) Private Sector Bank
(2) Self Help Group
(3) Cooperative Bank
(4) Grameen Bank
(5) Public Sector Bank

12. Nomination for a deposit account in the bank means
(1) Mandate given by the close relative/s of the depositor to settle the death claim in case of the depositor
(2) Mandate decided by the bank to settle the death claim of its depositor
(3) Mandate decide of the depositor in favour of one or more persons, to claim the amount on death of the depositor
(4) Mandate of the depositors in favour of a close relatives who can claim the amount on death of the depositor
(5) Court order instructing the banks to settle the death claim of its depositor

13. In the following accounts operation by cheques is permitted
(1) Savings bank accounts and fixed deposit accounts
(2) Current accounts and fixed deposit accounts
(3) Savings bank accounts and floating loan account
(4) Savings bank account and cash accounts
(5) Savings bank accounts and current accounts

14. Banks cannot do the following business
(1) Accept demand and time deposits from public
(2) Accept items for keeping in safe custody
(3) Sell gold coins
(4) Buy commodities for trading
(5) Accept foreign currency for selling to money changers

15. ‘Bulls and Bears’ are term used in
(1) Bullion markets
(2) Vegetable market
(3) Stock Exchange
(4) Commodity markets
(5) None of these

16. Real Time Gross Settlement or RTGS enables
(1) Immediate transfer of money from customer of one bank to customer of another bank
(2) Immediate transfer of money from customer of one branch to customer of another branch within same bank
(3) Immediate transfer of money from customer of one country to another country
(4) Immediate transfer of money from customer of one bank to customer of RBI
(5) None of these

17. Which of the following is Private bank in India?
(1) Union Bank of India
(2) Syndicate Bank
(3) IDBI Bank
(4) UCO Bank
(5) HDFC Bank

18. Travelers cheque is
(1) a supplementary credit card
(2) a cheque issued by a bank or financial institution which functions as capital
(3) a cheque issued by a bank or a finance institution in lieu of cash
(4) a certificate issued by a bank or financial institution which functions as a bond
(5) a prepaid instrument issued by a bank or finance institution which can be substitute of cash

19. Mortgage is a security created on
(1) movable property for a loan given by the bank
(2) immovable property for deposit received by a bank
(3) a confirmation of immovable property given by a bank
(4) movable property for a deposit given by a bank
(5) immovable property for a loan given by a bank

20. If a crossed cheque is presented for payment ………………………….
(1) Cash can be paid across the counter to the presenter
(2) Cash can be paid across the counter to the account holder only
(3) It can be paid only through a banker
(4) It cannot be paid at all
(5) It can be paid across the counter in another bank

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