Feb 26, 2016

Banking Knowledge - Banking Awareness Questions

Banking Knowledge - Banking Awareness Questions


1. Which of the following is correct?
(1) Illiterates cannot open an account in a bank
(2) Illiterates women cannot open an account in a bank
(3) Illiterates can open savings bank account in a bank
(4) Advance can be granted to a minor
(5) Advance can be granted to a minor if he is of sound mind

2. No convertible debentures are …………………..
(1) Debt instruments which acquire equity status at the investors options
(2) Debt instruments which acquire equity status at the investors options
(3) Debt instruments which acquire equity status with the permission of Register of companies
(4) Debt instruments which acquire equity status on maturity
(5) Debt instruments which retain their debt character and cannot acquire equity status

3. “IRDA norms will boost online distribution” – was the news in some major newspapers. This means online distribution of which of the following will boost up?
(1) Bank products
(2) Insurance policies / product
(3) Licenses to open new banks branches of existing banks
(4) Licenses to operate 2G/3G spectrum
(5) Permits for export of iron one

4. To prevent frauds in multiple mortgage cases, under SARFAESI Act, 2000 one special thing has been created and made operative from 01.04.2011. Which one is that from the following?
(1) Special Register office at Lucknow
(2) Special Central Arbitration Bureau at Lucknow
(3) Central SARFAESI tribunals at 6 centres
(4) Central Electronic Registry
(5) State Electronic Registries

5. SBI has merged which of the following two associate banks with itself?
(1) State bank of Hyderabad and State bank of Patiala
(2) State bank of Hyderabad and State bank of Travancore
(3) State bank of Mysore and State bank of Travancore
(4) State bank of Indore and State bank of Hyderabad
(5) State bank of Indore and State Bank of Saurashtra


6. Which of the following statement is true?
(1) Banks cannot accept demand and time deposits from public
(2) Banks can accept only demand deposit for the public
(3) Banks can accept only time deposit for public
(4) Banks can accept both demand and time deposits for public
(5) Banks can accept demand and time deposits only from government

7. Interest payable on savings bank account is ----------------
(1) not regulated by RBI
(2) regulated by State Governments
(3) regulated by Central Government
(4) regulated by RBI
(5) regulated by Finance minister

8. Which of the following is the correct statement?
(1) State bank of India is the sole authority to issue and manage currency in India
(2) A nationalized bank is the sole authority to issue and manage currency in India
(3) A cooperative bank is the sole authority to issue and manage currency in India
(4) RBI is the sole authority to issue and manage currency in India
(5) RBI is the sole authority to issue and manage currency in India

9. Accounts are allowed to be operated by cheques in respect of
(1) Both savings bank accounts and fixed deposit accounts
(2) Savings bank accounts and current accounts
(3) Both savings bank accounts and loan accounts
(4) Both savings bank accounts and cash accounts only
(5) Both current accounts and fixed deposit accounts

10. GNP stands for -------------------
(1) Gross National Product
(2) Group Net Product
(3) Grand Nuclear Process
(4) Group Networking Process
(5) None of these

11. Which of the following schemes is launched specially for helping Senior Citizens to avail loan by mortgage of their residential property?
(1) English mortgage scheme
(2) Senior capital loan scheme
(3) Reverse Mortgage loan scheme
(4) Senior Citizen Personal loan scheme
(5) None of these

12. SEBI is a ……………………….
(1) Advisory body
(2) Statutory body
(3) Constitutional body
(4) Non statutory body
(5) Registered as a society

13. Mixed Economy means ………………
(1) Co-existence of small and large industries
(2) Promoting both Agriculture and Industries in the economy
(3) Co-existence of public and private sectors
(4) Existence of wholesale and Retail Markets

14. The expansion for BIFR, in the context of the Indian Industry is
(1) Board for Investment and Financial Redevelopment
(2) Bureau for Industrial and Financial Revolution
(3) Board for Investment and Formal Reconstruction
(4) Board for Industrial and Financial Reconstruction
(5) Bureau for Investment and Financial Reconstruction

15. A worldwide financial messaging network which exchange messages between banks and financial institutions is known as …………..
(1) CHAPS
(2) SWIFT
(3) NEFT
(4) SFMS
(5) CHIPS

16. Which among the following schemes is related exclusively to Financial Inclusions?
(1) Swawlamban
(2) Swadeshi
(3) Swabhiman
(4) SGSY
(5) None of these

17. Consider the following:
(A) Deposit rates
(B) Base Rate
(C) Prime lending rate
Which among the above are decided by Reserve Bank of India?
(1) Only (A)
(2) Only (B)
(3) Only (C)
(4) Both (B) and (C)
(5) None of these

18. What is the full form of term LIBOR as used in financial/banking sectors?
(1) Local Indian Bank Offered Rate
(2) London India Bureau of Regulations
(3) Liberal International Bank Official Ratio
(4) London Inter Bank Offered Rate
(5) None of these

19. Technological Advancement in the recent times has given a new dimension to banks, mainly to which one of the following aspects?
(1) New age financial derivatives
(2) Service delivery mechanism
(3) Any banking
(4) Any type banking
(5) Multilevel Marketing

20. Base Rate is the rate below which no bank can allow their lending to anyone. Who sets up this ‘Base Rate’ for Banks?
(1) Individual Banks’ Board
(2) Ministry of Commerce
(3) Ministry of Finance
(4) RBI
(5) Interest Rate Commission of India

Questions Answers
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