Banking & Financial Awareness Quiz – Set 116

Banking & Financial Awareness Quiz: We have created many quizzes on Banking Awareness and this set is one of them. These questions are most important for banking and insurance exams. The question asked in the Banking Awareness section are based both on static banking and that to current banking in news. These Banking Awareness sets will guide you in all banking exams like IBPS Clerk, IBPS PO, SBI Clerk, SBI PO, RRB Clerk and PO and other exams.  The set will be beneficial for the Banking and financial awareness section of LIC AAO. So attempt all the sets now.

Banking & Financial Awareness Questions

1. Which of these is India’s oldest Joint Stock bank in India?
   A) State Bank of India
   B) Allahabad Bank
   C) Punjab National Bank
   D) Syndicate Bank
   
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   Option B
   Explanation: The Allahabad Bank, established in 1865 and still functioning today, is the oldest Joint Stock bank in India
2. Cash reserve ratio as a weapon of credit control denotes which of these functions of the RBI?
   A) Controller of credit
   B) Banker’s Bank
   C) Lender of Last Resort
   D) Banker to the Government
   
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   Option C
   
3. Which of the given instruments is most likely to be used by a corporate entity who wishes to raise money from the market?
   A) Commercial Papers
   B) National Savings Certificates
   C) Treasury Bills
   D) Kisan Vikas Patra
   
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   Option A
   
4. The Price at which government purchases the food grains for maintaining the public distribution system is known as___________
   A) Ceiling price
   B) Procurement price
   C) Issue price
   D) Cost price
   
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   Option B
   
5. Which of the following is the first Indian state to introduce the e-GPF?
   A) Punjab
   B) Andhra Pradesh
   C) Maharashtra
   D) Arunachal Pradesh
   
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   Option D
   Explanation: Arunachal Pradesh became the first state to introduce e-GPF or online General Provident Fund (GPF)
6. The interest rate on savings banks account in all nationalized commercial banks is fixed by _____________
   A) Indian Banks’s Association
   B) Ministry of Finance
   C) RBI
   D) Individual Banks itself
   
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   Option D
   
7. What does SCRA stands for?
   A) Securities Contracts (Regulation) Act,
   B) Statutory Contracts (Regulation) Act,
   C) Special Contracts (Regulation) Act,
   D) Sovereign Contracts (Regulation) Act,
   
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   Option A
   Explanation:In India, the word “securities” is defined in clause (h) of section 2 of the Securities Contracts (Regulation) Act, 1956 (SCRA).
8. Who presents the Economic Survey in India annually?
   A) Central Statistics Office
   B) RBI
   C) Ministry of Finance
   D) Central Board of Direct Taxes
   
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   Option C
   
9. The foreign currency having the tendency of quick migration is known as_____________
   A) Soft money
   B) Hot money
   C) Hard money
   D) Fiat money
   
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   Option B
   
10. The Bhore Committee was formed by the government in the year 1943 to ___________
    A) Disinvestment in Public Enterprises
    B) Control Liquidity in the market
    C) Enhance Foreign Exchange Reserve of the country
    D) Improve public health system in India
    
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    Option D
    Explanation: The major aim of the committee was to survey the then existing position regarding the health conditions and health organisation in the country and to make recommendations for future development, in order to improve public health system in India

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