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Banking Awareness Questions – 2

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Banking Awareness Questions and Answers

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1. What is the name of BRICS Bank
a) Federative Republic Bank
b) New BRICS Bank
c) New Republic Bank
d) New Development Bank
e) None

d) New Development Bank

2. When the Banking Regulation Act was setup
a) 1949
b) 1950
c) 1960
d) 1955
e) 1972

a) 1949

3. What is called as Central Bank and Monetary Authority in Indian Banking System
a) Regional Bank
b) Co-operative Bank
c) Nationalized Bank
d) Reserve Bank of India
e) None

d) Reserve Bank of India

4. When the Reserve Bank of India Act was setup
a) 1949
b) 1950
c) 1963
d) 1934
e) 1972

d) 1934

5. When the FEMA Foreign Exchange Management Act was setup
a) 1998
b) 1954
c) 1963
d) 1924
e) 1999

e) 1999

6. What does FEMA Act, 1999 Regulates
a) Cross-border transactions
b) To facilitate external trade and payment
c) Promote orderly Development
d) Maintenance of foreign exchange market in India
e) All the above

e) All the above

7. Which Banks are governed by the Securities Exchange Board of India (SEBI)
a) State owned Banks
b) Universal Banks
c) Commercial Banks
d) Retail Banks
e) Investment Banks

e) Investment Banks

8. Which Banks are cater to rural populace and small borrowers
a) Co-operative Banks
b) Private Banks
c) Commercial Banks
d) State owned Banks
e) Retail Banks

a) Co-operative Banks

9. What does Regional Rural Bank Act, 1976 Regulates
a) To regulate the development of rural economy
b) To regulate the foreign exchange
c) To regulate the investment advisory
d) To regulate private sector banks
e) None

a) To regulate the development of rural economy

10. Which committee formed to implement the RRB Act, 1976
a) Ashoka Metha Committee
b) Rangarajan Committee
c) Chakravarthy Committee
d) Narasimham Committee
e) Vaghul Committee

d) Narasimham Committee

11. Which of the following is required to open a bank account
a) Domicile Certificate
b) Address Proof
c) Lease Document
d) Promissory Note
e) None

b) Address Proof

12. How many Banks are presently associates of SBI
a) 5
b) 6
c) 4
d) 3
e) None

e) None

13. How many Public Sector Banks are there in India
a) 21
b) 26
c) 25
d) 20
e) 14

a) 21

14. How many Nationalized Banks are there in India
a) 20
b) 19
c) 21
d) 22
e) 24

b) 19

15. The banks are included in second schedule of RBI Act, 1934 are called as
a) Scheduled Commercial Banks
b) Scheduled Cooperative Banks
c) Nationalized Banks
d) Private Sector Banks
e) None

a) Scheduled Commercial Banks

16. Which year National housing bank started its operations
a) 1988
b) 1972
c) 1990
d) 2000
e) 2008

a) 1988

17. What is IFSC
a) Indian Financial System Code
b) Indian Financial Server Code
c) Indian Foreign System Code
d) Indian Financial System Credit
e) Indian Financial System Cheque

a) Indian Financial System Code

18. What is CIN
a) Challan Identification Number
b) Cheque Identification Number
c) Challan Identity Number
d) Cheque Identity Number
e) None

a) Challan Identification Number

19. What is IMPS
a) Immediate Payment Service
b) Intermediate Payment Service
c) Immediate Payment System
d) Immediate Payment Sector
e) None

a) Immediate Payment Service

20.What is RTGS
a) Real transaction gross settlement
b) Real time gross system
c) Real transaction gross service
d) Real time gross settlement

e) None

d) Real time gross settlement

21. What is NEFT
a) National electronic fund transfer time
b) National electronic funds time
c) National electronics fund transfer
d) National electronic funds transfer
e) None

d) National electronic funds transfer

22. What is CRR
a) Cash Reserve Ratio
b) Cash Reverse Ratio
c) Cash Reserve Rate
d) Cash Reverse Ratio
e) None

a) Cash Reserve Ratio

23. The Value of Cash Reserve Ratio (CRR)
a) 5%
b) 4%
c) 2%
d) 3%
e) 1%

b) 4%

24. What is RRR
a) Reserve Repo Rate
b) Reverse Repo Ratio
c) Reserve Repo Ratio
d) Reverse Repo Rate
e) None

d) Reverse Repo Rate

25. The Value of Reverse Repo Rate (RRR)
a) 6.00%
b) 5.00%
c) 6.25%
d) 6.02%
e) 6.15%

a) 6.00%

26. The value of Policy Repo Rate (PRR)
a) 6.00%
b) 5.00%
c) 6.25%
d) 6.02%
e) 6.15%

c) 6.25%

27. The value of Statutory Liquidity Ratio
a) 16.50%
b) 15.00%
c) 26.25%
d) 19.25%
e) 12.15%

d) 19.25%

28. What is ATM
a) Automatic Transfer Machine
b) Automatic Teller Machine
c) Automated Transfer Machine
d) Automated Teller Machine
e) None

d) Automated Teller Machine

29. Who issues one rupee note in India
a) RBI
b) Ministry of Finance
c) SEBI
d) NABARD
e) FEMA

b) Ministry of Finance

30. Head quarters of RBI is in
a) Mumbai
b) Hyderabad
c) Bangalore
d) New Delhi
e) Mangalore

a) Mumbai

31. How many developments banks are there in India
a) 1
b) 2
c) 6
d) 5
e) 4

c) 6

32. ATMs that are owned and managed by non-banking entities are known as
a) Blue Label ATMs
b) Red Label ATMs
c) Green Label ATMs
d) White Label ATMs
e) Black Label ATMs

d) White Label ATMs

33. Expand the term EMI
a) Equated Mortgage Investment
b) Equated Monthly Installment
c) Equal Monthly Investment
d) Easy Monthly Installment
e) None

b) Equated Monthly Installment

34. Banking in India is controlled by
a) Union Ministry of Commerce
b) Union Ministry of Finance
c) Reserve Bank of India
d) Union Finance Commission
e) None

c) Reserve Bank of India

35. Regional Rural Banks were established in the year
a) 1975
b) 1971
c) 1955
d) 1985
e) 1999

a) 1975

36. What is LIBOR
a) London Inter Bank Offered Rate
b) London Intra Bank Offered Rate
c) Local Inter Bank Offered Rate
d) Local Indian Bank Offered Rate
e) London Indian Bank Offered Rate

a) London Inter Bank Offered Rate

37. Regional Rural Banks are sponsored by
a) Nationalized Commercial Bank
b) Reserve Bank of India
c) Government of India
d) State Bank of India
e) Union Ministry of Finance

a) Nationalized Commercial Bank

38. What is Call Money
a) Money borrowed for more than one day
b) Money borrowed or lent for a day or overnight
c) Illegal Money
d) Money borrowed for more than seven days
e) None

b) Money borrowed or lent for a day or overnight

39. In banking the term DTL means
a) Detail time limit
b) Demand and time liabilities
c) Demand and time limit
d) Demand and trade limit
e) None

b) Demand and time liabilities

40. Banks in India are regulated by
a) Banking Regulation Act, 1949
b) RBI Act, 1934
c) FEMA Act, 1999
d) FERA Act, 1973
e) None

a) Banking Regulation Act, 1949

41. First White label ATM in India is launched by
a) Infosys
b) Reliance
c) TCPSL
d) Tech Mahendra
e) None

c) TCPSL

42. Who was the first governor of RBI
a) Sir Osborne Smith
b) Sir C D Deshmukh
c) Sir James Braid Taylor
d) Sir Benegal Rama Rau
e) None

a) Sir Osborne Smith

43. First bank in India with an ISO Certification is
a) Canara Bank
b) HSBC Bank
c) HDFC Bank
d) SBI Bank
e) ICICI Bank

a) Canara Bank

44. Who was the first Indian governor of RBI
a) P. C. Bhattacharya

b) C D Deshmukh
c) N. C. Sen Gupta
d) Benegal Rama Rau
e) K. R. Puri

b) C D Deshmukh

45. Which bank was inaugurated by Mahatma Gandhi in 1919
a) Union Bank of India
b) SBI
c) Allahabad Bank
d) Punjab National Bank
e) Central Bank Of India

a) Union Bank of India

46. Which Indian bank introduced the first ATM in India
a) HSBC Bank
b) SBI
c) Allahabad Bank
d) Punjab National Bank
e) ICICI Bank

a) HSBC Bank

47. The first Indian commercial bank owned and managed by Indians
a) HSBC Bank
b) Central Bank Of India
c) Allahabad Bank
d) Punjab National Bank
e) ICICI Bank

b) Central Bank Of India

48. The first bank to introduce cheque system.
a) HSBC Bank
b) Central Bank Of India
c) SBI Bank
d) Punjab National Bank
e) Bengal Bank

e) Bengal Bank

49. Who invented the ATM
a) Luther George Simjian
b) Donald C Wetzel
c) John Shepherd-Barron
d) Frederick Powell Bowles
e) None

c) John Shepherd-Barron

50. Who insures banks in India
a) IRDA
b) EXIM
c) DICGC
d) ECGC
e) RBI

c) DICGC

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