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Banking and financial Awareness Previous Year Questions

Q 101. Banks have finalised an inter-creditor agreement to resolve the issue of mounting ________ under Project “Sashakt”.

(a) Fund Transfer
(b) UPI
(c) NPA
(d) KYC
(e) NEFT
Ans: (c)

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Q 102. Which of the following Banks’ credit card issuer announced the launch of ‘ELA’ , a virtual assistant for customer support and services?

(a) State Bank of India
(b) HDFC Bank
(c) Bank of Baroda
(d) Axis Bank
(e) Punjab National Bank
Ans: (a)

Q 103. The rate on which banks borrow loan from RBI is _______.

(a) Reverse Repo Rate
(b) Repo Rate
(c) Cash Reserve Ratio
(d) Base rate
(e) Marginal Standing Facility
Ans: (b)

Q 104. To provide relief to the medium and small enterprises sector, the RBI announced that GST registered MSME borrowers will get a further ___________ day window to pay dues if their accounts were standard as on August 31st 2017.

(a) 30 days
(b) 150 days
(c) 90 days
(d) 120 days
(e) 180 days
Ans: (e)

Q 105. What is rate of SLR?

(a) 19.5%
(b) 18.5%
(c) 16.25%
(d) 15.5%
(e) None of these
Ans: (a)

Q 106. Under FRDI Bill, bail-in clause will affect

(a) Borrower
(b) Depositors
(c) Recipients
(d) None of these
(e) None of these
Ans: (b)

Q 107. In order to address the twin balance sheet problem of the banking sector and the corporate sector, the RBI made a strong case for setting up a ___________ in India.

(a) Public Credit Registration
(b) Public Credit Registry
(c) Public Credit Review
(d) Public Credit Reminder
(e) Public Commerce Registry.
Ans: (b)

Q 108. The IFSC is an 11-character code with the first four alphabetic characters representing the bank name, and the last six characters representing the branch. The fifth character is 0 and reserved for-

(a) Future use
(b) Cash scheme
(c) Account Information
(d) Balance Rate
(e) Cash Withdraw
Ans: (a)

Q 109. Trading of priority sector lending certificates on the government’s ____________ portal by banks will attract integrated goods and services tax.

(a) e-dhan
(b) e-indra
(c) e-kuber
(d) e-mudra
(e) e-surya
Ans: (c)

Q 110. RBI has formed a committee to review regulatory guidelines and supervisory framework applicable to core investment companies . This committee is headed by-

(a) Bimal Jalan
(b) Smt. Usha Thorat
(c) Tapan Ray
(d) Shri T. N. Manoharan
(e) None of these
Ans: (c)

Q 111. The surcharge was levied on individuals with a total income more than `1 crore at the rate of-

(a) 10%
(b) 15%
(c) 20%
(d) 25%
(e) 30%
Ans: (a)

Q 112. RBI has initiated steps to set up a wide-based DPCR to capture details of all borrowers. DPCR stands for-

(a) Digital Public Cash Rupee
(b) Digital Plan of Cash Registry
(c) Digital Public Credit Registry
(d) Detailed Public Credit Rate
(e) None of these
Ans: (c)

Q 113. T.N. Manoharan Committee was launched by?

(a) RBI
(b) Ministry of Finance
(d) SEBI
(e) None of these
Ans: (a)

Q 114. RBI constituted a six-member committee to strengthen the corporate governance framework of systematically important CICs. What is the full form of CIC?

(a) Core Investment Company
(b) Committed Investor Company
(c) Core Information Cell
(d) Cost of Investment Company
(e) None of these
Ans: (a)

Q 115. How many batches in NEFT daily?

(a) 20
(b) 32
(c) 48
(d) 64
(e) 59
Ans: (c)

Q 116. RBI has instructed banks on cash withdrawal at POS for tier III to Tier VI

(a) 500/- per day
(b) 1000/- per day
(c) 1500/- per day
(d) 2000/- per day
(e) 2500/- per day
Ans: (d)

Q 117. Which of the following organizations has constituted a Central Repository of Information on Large Credits ?

(a) RBI
(b) SEBI
(e) None of these
Ans: (a)

Q 118. RBI has increased the timeline for conversion of minimum KYC detail for prepaid payment instruments to full KYC compliant PPIs:

(a) 6 months to 12 months
(b) 12 months to 18 months
(c) 18 months to 24 months
(d) 1 months to 6 months
(e) 24 months to 30 months

Ans: (c)
Lesson 2 Banking System (Banking and financial Awareness Previous Year Questions)
Q1. What does the letter R denote in the abbreviation ‘BR Act’ which controls banking activities in the country?

(a) Reformation
(b) Regulation
(c) Reporting
(d) Resolution
(e) Ranking
Ans: (b)

Q 2. A bank without any branch network that offers its services remotely through online banking, telephone/mobile banking and interbank ATM network alliances is known as

(a) Universal Banking
(b) Indirect Bank
(c) Door Step Bank
(d) A Direct Bank
(e) Unit Banking
Ans: (d)

Q 3. Which of the following is not correct regarding the Systemically Important Non-deposit taking NBFCs ?

(a) They came into being in the wake of the recent global recession
(b) NBFCs with assets of ` 100 crore and above are being classified as NBFC-ND-Sis
(c) Prudential regulations are applicable to them
(d) It was created in 2006
(e) None of these
Ans: (a)

Q 4. What is the name of BRICS Bank?

(a) Federative Republic Bank
(b) New Republic Bank
(c) New Development Bank
(d) New BRICS Bank
(e) None of these
Ans: (c)

Q 5. Where is the headquarters of SWIFT located?

(a) Vienna, Austria
(b) Brussels, Belgium
(c) Montreal, Canada
(d) Durban, South Africa
(e) Sydney, Australia
Ans: (b)

Q 6. Axis Bank is a __________ .

(a) Public Sector Bank
(b) Private Sector Bank
(c) Co-operative Bank
(d) Foreign Bank
(e) Gramin Bank
Ans: (b)

Q 7. Which of the following is a Development Bank ?

(a) HDFC Bank
(b) National Housing Bank
(c) Central Bank of India
(d) Saraswat Co. Op. Bank
(e) HSBC Bank
Ans: (a)

Q 8. Which of the following organisations/agencies has specifically been set up to boost overall rural development in India?

(a) RBI
(d) SEBI
(e) EXIM
Ans: (c)

Q 9. Which of the following banks in India has maximum number of branches and ATMs in India?

(a) IDBI Bank
(b) Bank of India
(c) Punjab National Bank
(d) ICICI Bank
(e) State Bank of India
Ans: (e)

Q 10. Which of the following is not the name of a Banking Organisation?

(a) HDFC
(b) IDBI
(c) YES
(d) SEBI
Ans: (d)

Q 11. Which of the following is the Central Bank of our country?

(a) State Bank of India
(b) Central Bank of India
(c) National Bank for Agriculture and Rural Development
(d) Reserve Bank of India
(e) None of these
Ans: (d)

Q 12. India has different categories of Commercial banks. Which of the following is not one such category ?

(a) Private Banks
(b) Commodity Banks
(c) Nationalised Banks
(d) Co-operative Banks
(e) Foreign Banks
Ans: (b)

Q 13. Which of the following is a private Bank functioning in India ?

(a) Axis Bank
(b) Bank of Baroda
(c) Dena Bank
(d) Punjab National Bank
(e) Bank of Maharashtra
Ans: (a)

Q 14. A person staying in a small village having population of about 50,000. If he/she decides to take a loan of ` 25,000, most probably he/she has to visit a bank in his/her village which will be certainly
A. Rural Bank
B. A Nationalised Bank
C. Foreign Bank

(a) Only A
(b) Only B
(c) Either A or B
(d) Only C
(e) None of these
Ans: (c)

Q 15. Which of the following is not a Public Sector Bank?

(a) Corporation Bank
(b) United Bank of India
(c) Vijaya Bank
(d) Bank of Maharashtra
(e) Federal Bank
Ans: (e)

Q 16. The term ‘Smart Money” refers to __________ .

(a) Foreign Currency
(b) Internet Banking
(c) US Dollars
(d) Travelers’ cheques
(e) Credit Cards
Ans: (e)

Q 17. Which of the following organization is made specifically responsible for empowering Micro, Small and Medium enterprises in India?

(b) RBI
(d) E C G C
(e) SEBI
Ans: (c)

Q 18. Which of the following institutions is regarded as the ‘Lender of the Last Resort’ by Banks in India?

(a) State Bank of India
(b) The State Treasury
(c) Reserve Bank of India
(d) World Bank
(e) Department of Financial Services
Ans: (c)

Q 19. According to the Reserve Bank of India which of the following contribute to more than three-fourth of the total Non- Performing Assets ?

(a) Public Sector bank
(b) Foreign Bank
(c) Private Bank
(d) Regional Rural Bank
(e) Co-operatives
Ans: (a)

Q 20. The Government of India, has acquired RBI’s stake in one of the major banks of India. Which of the following is the bank ?

(a) AXIS Bank
(b) IDBI Bank
(c) ICICI Bank
(d) State Bank of India
(e) None of these
Ans: (d)

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