Apr 17, 2016

Current Socio Economic Banking Awareness Questions Answers

Current Socio Economic Banking Awareness

Question and Answer on Current Socio Economic and Banking Awareness

MCQ objective questions and answers on Socio-economic and banking awareness for Bank, IBPS, RBI, RRB, SBI, Insurance recruitment examination. Model question on current economic issues and problems.

1. Which one of the following is not a salient feature of Debit Card?
(1) No bad debts to banks and no suits for recovery
(2) No interest earning for banks
(3) Works like a normal withdrawal
(4) Can be used at ATM and POS
(5) 45 days credit is given to the card holder

2. Banks issue a letter to beneficiary on behalf of its constituents like guarantee for making payment on their behalf on fulfillment of its terms and conditions. What is this arrangement known in banking context?
(1) Line of Credit
(2) Loan to Client
(3) Loan on Credit
(4) Loan against Credit
(5) Letter of Credit

3. When a Bank provides a loan for purchase of white goods, it is categorised as ---------------------
(1) Consumption loan
(2) White Goods loan
(3) Consumer Durable loan
(4) Working Capital
(5) Bridge Loan

4. With reference to a cheque which of the following is the ‘drawee bank‘?
(1) The bank that collects the cheque
(2) The payee‘s bank
(3) The endorsee’s bank
(4) The endorser’s bank
(5) The bank upon which the cheque is drawn

5. Which of the following is correct statement?
(1) Normally no interest is paid on current deposit accounts.
(2) Interest is paid on current accounts at the same rate as term deposit accounts.
(3) The rate of interest on current account and savings account are the same.
(4) No interest is paid on any deposit by the bank.
(5) Savings deposits are the same as current deposits.


6. The usual deposit accounts of banks are -----------------
(1) Current accounts, electricity accounts and insurance premium accounts
(2) Current accounts, Post office savings bank accounts and term deposit accounts
(3) Loan accounts, savings bank accounts and term deposit accounts
(4) Current accounts, savings bank accounts and term deposit accounts
(5) Current bill accounts and term deposit accounts

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7. Fixed deposits and recurring deposits are -------------------------
(1) repayable after an agreed period.
(2) repayable on demand.
(3) not repayable.
(4) repayable after death of depositors.
(5) repayable on demand or after an agreed period as per bank’s choice.

8. Financial inclusion means provision of ---------------------
(1) financial services namely, payments, remittances, savings, loans and insurance at affordable cost to persons not yet given the same.
(2) ration at affordable cost to persons not yet given the same.
(3) house at affordable cost to persons not yet given the same.
(4) food at affordable cost to persons not yet given the same.
(5) education at affordable cost to persons not yet given the same.

9. Which of the following is known as cross selling by Banks?
[A] Sale of a debit card to a credit card holder
[B[ Sale of Insurance policy to a depositor
[C] Issuance of Cash against Cheque presented by a third party
(1) Only (A)
(2) Only (B)
(3) Only (C)
(4) Both (A) and (C)
(5) All (A), (B) and (C)

10. Which of the following is not a measure to control inflation adopted by the Government or RBI?
(1) Monetary Policy
(2) Fiscal Policy
(3) Public Distribution System
(4) Price Control
(5) Financial Inclusion

11. Which one of the following is not a negotiable Instrument?
(1) Cheque
(2) Pay order
(3) Bill of Exchange
(4) Ware house receipt
(5) All are Negotiable Instruments

12. The main function of the I.M.F. is to ______________
(1) Help to solve balance of payments problems of member countries
(2) Arrange international deposits from banks.
(3) Act as private sector lending arm of the World Bank
(4) Finance investment loans to developing countries
(5) None of these

13. Which of the following is NOT a Public Sector Unit?
(1) HPCL
(2) Yes Bank
(3) HAL
(4) SAIL
(5) IDBI Bank

14. Which among the following body promoted Securities Trading Corporation of India Limited (STCI) Jointly with the Public Sector Banks?
(1) Securities Exchange Board of India
(2) ICICI Ltd
(3) IDBI Ltd
(4) Reserve Bank of India
(5) IRDA

15. Which among the following is the Biggest Borrower in India?
(1) Indian Government
(2) Reserve Bank of India
(3) Indian Railways
(4) State Governments
(5) Public sector Undertakings

16. Which among the following would result in the fall in asset prices?
(1) Low Liquidity in the Economy
(2) High Liquidity in the Economy
(3) RBI increasing the Reverse Repo Rates
(4) RBI allows more banks to play
(5) None of these

17. Which of the following terms is used in Banking Field?
(1) Interest Rate Swap
(2) Input Devices
(3) Sedimentary
(4) Zero Hour
(5) Privilege Motion

18. Expand the term FSDC which is used in financial sectors?
(1) Financial Security and Development Council
(2) Financial Stability and Development Council
(3) Fiscal Security and Development Council
(4) Fiscal Stability and Development Council
(5) None of these

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