Banking Awareness Quiz (Set - 25)

Mentor for Bank Exams
Banking Awareness Quiz (Set - 25)
1. One rupee notes and coins are issued by
a) Reserve bank of India
b) State Bank of India on behalf of Government of India
c) RBI
d) Finance Minister of Central government of India
e) None of the above
Answer: d)
2. What does “Kite Flying” refers to in the banking terminology?
a) The practice of depositing and withdrawing frequently in a bank account.
b) Opening of multiple accounts with different names by any individual
c) Doing unauthorised business
d) Permitting drawls against uncleared cheques
e) None of these
Answer: d)
3. Bank rate policy, open market operations, variable reserve requirements and statutory liquidity requirements employed by Reserve Bank as measures of credit control viz.
a) quantitative methods
b) qualitative methods
c) both of the above
d) all of the above
e) none of the above
Answer: a)
4. RBI was established on ___________.
a) April 1, 1925
b) April 1, 1935
c) April 1, 1945
d) April 1, 1955
e) None of these
Answer: b)
5. Which of the following banks is not wholly owned by the Government of India?
a) Reserve Bank of India
b) State Bank of India
c) Punjab and Sind Bank
d) Central Bank of India
e) None of these
Answer: b)
6. Which of the following terms is NOT used in Banking/Finance related matters ?
a) Discount Rate
b) Letter of Credit
c) Cheque Clearing
d) General Ledger
e) Law of Motion
Answer: e)
7. Which of the following would fall under the category of retail banking?
a) Home Loans
b) Credit Cards
c) Personal Loans
d) Car Loans
e) All of these
Answer: e)
8. “Swabhiman”, the financial inclusion scheme, comes under the purview of which ministry?
a) Ministry of Commerce
b) Ministry of Home Affairs
c) Ministry of Finance
d) Ministry of External Affairs
e) None of these
Answer: c)
9. A commercial paper is
a) a paper issued by Reserve Bank of India an trade and commerce
b) an unsecured money market instrument issued in the form of promissory note
c) a document issued by IDBI for seeking refinance facility from Reserve Bank India
d) all of the above
e) none of the above
Answer: b)
10. Under which of the following type of account is a specified amount deposited every month for a specified period, says, 12, 24, 36 and 60 months?
a) Fixed Deposit Account
b) Saving Bank Account
c) Current account
d) Recurring Account
e) None of these
Answer: d)
11. How Commercial banks can regulate money supply?
a) Printing of one rupee notes
b) Augmentation of savings and time deposits
c) Provision of high denomination notes
d) Creation of demand deposits
e) None of the above
Answer: d)
12. Credit is a
a) Stock concept
b) Flow concept
c) A stock-flow concept
d) A holding concept
e) None of these
Answer: c)
13. The term “HNI” used in banking parlance means _____?
a) Highly Negative Individual
b) High Net-worth Individual
c) High Networked Individual
d) High Nuisance Individual
e) None of the Above
Answer: b)
14. Who compiles Economic Survey report in India?
a) RBI
b) Ministry of Finance
e) (a) and (b) combined
Answer: b)
15. A customer is required to maintain adequate balances in his/her accounts in order to use his ____ card in the merchant establishments?
a) Smart Card
b) Credit Card
c) Add-on Credit card
d) Debit Card
e) None of the above
Answer: d)
16. Economic planning is an essential feature of
a) Dual economy
b) Mixed economy
c) Social economy
d) Capitalist economy
e) None of these
Answer: c)
17. Who covered the Export Credit Packing Advance sanctioned to SSI exporters under the credit guarantee scheme?
c) DRI
d) GIC
e) None of the above
Answer: b)
18. SEBI is a
a) Constitutional body
b) Statutory body
c) Advisory body
d) Non-statutory body
e) None of these
Answer: b)
19. What is the “USP” in a Savings Bank account of a Bank over another Bank?
a) Higher rate of interest
b) Low risk transaction
c) Banking channels and branches
d) Easy to operate
e) None of the Above
Answer: a)
20. Which of the following remains at the top of organizational structure of RBI?
a) Governor
b) Executive directors
c) Central board of directors
d) Chief general manager
e) Principal chief general manager
Answer: c)