GK in English

Banking and financial Awareness Previous Year Questions

Q 61. When a bank dishonours a cheque it is called

(a) settlement of the cheque.
(b) withdrawing of the cheque.
(c) nullifying of the cheque.
(d) truncating of the cheque.
(e) return of the unpaid cheque.
Ans: (c)

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Q 62. RBI’s policy stance to manage interest and liquidity are used to

(a) moderate inflation and maintain economic growth
(b) moderate competition among private and public sector banks
(c) eradicate unemployment in public sector
(d) moderate currency supply in public hands
(e) moderate deposits in public sector bank
Ans: (a)

Q 63. Real Time Gross Settlement or RTGS enables

(a) immediate transfer of money from customer of one bank to customer of another bank.
(b) immediate transfer of money from customer of one branch to customer of another branch within the same bank.
(c) immediate transfer of money from customer of one country to customer of another country.
(d) immediate transfer of money from customer of one bank to customer of the RBI.
(e) None of these
Ans: (a)

Q 64. Which of the following is a measure taken by the Reserve Bank of India to control inflation in our country?

(a) Increasing the CRR
(b) Increasing the SLR
(c) Contraction of supply of currency
(d) Raising Repo / Reverse Repo Rate
(e) Decreasing the SLR
Ans: (d)

Q 65. Monetary Policy as an arm of the economic policy is administered by

(a) Government of India
(b) Reserve Bank of India
(c) State Bank of India
(d) Governments of the respective states
(e) None of these
Ans: (b)

Q 66. Web based complaints redressal system ‘SCORES’ is launched by which of the following organizations/agencies?

(a) Ministry of Corporate Affairs
(b) SEBI
(c) RBI
(d) State Bank of India
(e) IBA
Ans: (b)

Q 67. The Aadhar-enabled Payment System is a bank-led model that facilitates banking facilities through banking correspondents across banks. However, Aadhaar- enabled basic types of banking transactions do ‘not’ include

(a) Aadhaar to Aadhaar funds transfer
(b) Small overdraft faculty
(c) Cash withdrawal
(d) Balance enquiry
(e) Cash deposit
Ans: (b)

Q 68. The concept of’Micro Credit’ essentially concentrates on

(a) consumption smoothening as and when needed
(b) providing safe place to hold savings
(c) accepting deposits
(d) provision of credit to the poor
(e) facility to transfer money
Ans: (d)

Q 69. Post-sales activities include _________.

(a) Sales presentation
(b) Customer Feedback
(c) Customer identification
(d) Product design
Ans: (b)

Q 70. A good Brand can be built up by way of ________.

(a) Customer grievances
(b) Break-down of IT support
(c) Old age
(d) Large number of products
(e) Consistent offering of good services
Ans: (e)

Q 71. Banks cannot do which of the following businesses?

(a) Accepting demand and time deposits from public
(b) Accepting items for keeping in safe custody
(c) Selling gold coins
(d) buying commodities for trading
(e) accepting foreign currency for selling to money changers
Ans: (d)

Q 72. Which of the following is NOT a function of a commercial bank?

(a) Providing project finance
(b) Settlement of payments on behalf of the customers
(c) Deciding policy rates like CRR, SLR and Repo Rates
(d) Issuing credit/debit ATM cards
(e) Providing services such as locker facilities. remittances
Ans: (c)

Q 73. If you wish to purchase some U.S. Dollars for your travel abroad, you should approach

(a) The Ministry of Finance
(b) The U.S. Embassy
(c) Any Bank Branch authorised to do such activity
(d) The Reserve Bank of India only
(e) External Affairs Ministry
Ans: (c)

Q 74. Which of the following fund transfer mechanisms, can be moved from one bank to another and where transaction is settled instantly without being bunched with any other transaction?

(a) RTGS
(b) NEFT
(c) TT
(d) EFT
(e) MT
Ans: (a)

Q 75. ‘FLASHremit’ service to offer an instant bank transfer service to the Indians residing in the Gulf nation has been launched by which bank in association with UAE exchange?

(a) HDFC bank
(b) SBI
(c) Axis bank
(d) ICICI bank
(e) None of these
Ans: (d)

Q 76. What is the percentage of RRB sponsor bank contribution?

(a) 75%
(b) 35%
(c) 45%
(d) 50%
(e) None of these
Ans: (b)

Q 77. EFTPOS is an electronic payment system involving electronic funds transfers based on the use of payment cards, such as debit or credit cards, at payment terminals located at points of sale. What is E in EFTPOS?

(a) Electronic
(b) Essential
(c) Every
(d) Effective
(e) None of the above
Ans: (a)

Q 78. Which of the following is not a primary function of a bank?

(a) Facilitating import of goods
(b) Remittance facility
(c) Safe custody of articles
(d) Foreign Exchange
(e) Purchase and Sale of Foreign Exchange
Ans: (a)

Q 79. Which of the following does not fall into the functions of Payments Banks?

(a) Acceptance of demand deposits
(b) Internet banking
(c) Kemittance services
(d) Lending services
(e) Sell mutual funds, insurance and pension products
Ans: (d)

Q 80. Which bank launched “Dhanchayat” an Educational film, to raise awareness on the dangers of borrowing money from unorganized sources?

(b) SBI
(c) HDFC
(d) PNB
(e) None of these
Ans: (c)

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