BANKING AWARENESS QUESTIONS SET 11

Here is Set 11 containing 20 Banking Awareness Questions for IBPS PO, IBPS Clerk, SBI PO, SBI Clerk and other examinations.
 

BANKING AWARENESS QUESTIONS

BANKING AWARENESS QUESTIONS

1. IFSC Code has how many digits?
A)7
B)15
C)11
D)9
E)10

2. Which one of the following is not a monetary tool of RBI?
A)Reserve Repo Rate
B)SLR
C)Bank Rate
D)Repo Rate
E)Other than those given as options

3. Bank’s borrow money from RBI at which of the following rates?
A)Bank rate
B)SLR
C)CRR
D)Repo Rate
E)Reverse Repo Rate

4. Banks in India are required to benchmark their lending rates with reference to which of the following rates?
A)Reverse Repo Rate
B)Base Rate
C)Government of India 10 year bond rate
D)Repo Rate
E)Other than those given as options

5. The rate at which domestic currency can be converted into foreign currency can be converted in to foreign currency and vice-versa is known as –
A)LIBOR
B)Base Rate
C)Repo Rate
D)Exchange Rate
E)Inter-Bank Call Money Rate

6. Balance in a current account is classified as –
A)Hybrid deposit
B)Term deposit
C)Demand deposit
D)Flexi deposit
E)Other than those given as options

7. The foreign exchange of India is kept with-
A)SBI
B)ECGC
C)RBI
D)NABARD
E)Other than those given as options

8. The maximum amount that can be remitted through RTGS is-
A)Rs. 1 crore
B)Rs. 50.00 lacs
C)Rs. 2.00 lacs
D)Rs. 10.00 lacs
E)No upper ceiling

9. Which one of the following is known as ‘Demat’ account?
A)Account in which shares are held in electronic form
B)Other than those given as options
C)Account allowed to be operated by guardian of minor
D)Account operated by business correspondents in rural centres
E)Account opened with zero balance

10. Fiscal Policy is concerned with which of the following?
A)Public Revenue and Expenditure
B)Issue of currency
C)Education for all
D)Population control
E)Export and Import

11. In case of failed ATM transactions if the amount is not credited to a customer’s account within 7 working days from the date of receipt of the complaint. Banks have to pay compensation at the rate of Rs…per day.
A)150
B)200
C)100
D)10
E)50

12. Deposits under Foreign Currency Non-Resident [FCNR(B)] scheme can be accepted for a minimum of-
A)15 days
B)3 months
C)6 months
D)1 year
E)7 days

13. The Head of the Reserve Bank of India is officially known as-
A)Managing Director (MD) of RBI
B)Chief Executive of RBI
C)President of RBI
D)Governor of RBI
E)Executive Engineer of RBI

14. India has different categories of commercial banks. Which of the following is not a commercial bank?
A)Foreign Banks
B)Commodity Banks
C)Nationalized Banks
D)Private Banks
E)Cooperative Banks

15. The abbreviation “EPOS’ stands for-
A)Electronic Payment of Sale
B)Electronic Point of Sale
C)Electronic Purchase of sale
D)Electronic Price of Sale
E)Electronic Platform of Sale

16. Which of the following bodies regulates the Regional Rural Banks?
A)RBI
B)NABARD
C)Department of Rural Development
D)State Government
E)SIDBI

17. In which of the following types of banking, there is a direct execution of the transaction between a bank and its consumers?
A)Retail Banking
B)Universal Banking
C)Virtual Banking
D)Unit Banking
E)Other than those given as options

18. Which of the following is the correct full form of ECS often used in banking?
A)Electronic Clash System
B)Electronic Cash Service
C)Electronic Clearing Service
D)Electronic Charging System
E)None of these

19. A demand draft issued by a bank is valid for-
A)3 years
B)There is no time limit
C)3 months
D)12 months
E)6 months

20. Which of the following forms of securing a loan is the safest one?
A)Lien
B)Assignment
C)Pledge
D)Hypothecation
E)Mortgage

21. Which of the following is not acceptable as address proof for opening a bank account by an individual?
A)Letter from any recognised public authority
B)Domicile certificate
C)Electricity Bill
D)Other than those given as options
E)A next agreement indicating the address of the customer duly registered with State Government

22. Maximum loan amount to individuals against security of shares can be—
A)20.00 lacs
B)15.00 lacs
C)25.00 lacs
D)50.00 lacs
E)Other than those given as options

More Banking Awareness Questions here