Banking & Financial Awareness Quiz – Set 182

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. So attempt all the sets now.

1. Under which of the following rates, scheduled commercial bank borrow funds overnight from RBI?
   A) SLR
   B) MSF
   C) Reverse Repo Rate
   D) Bank Rate
   
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   Option B
   Explanation: MSF Rate is 1% higher than Repo Rate
2. The note issue system in India is based on which of the following?
   A) Gold Deposit System
   B) Proportional Reserve System
   C) Minimum Reserve System
   D) Simple Deposit System
   
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   Option C
   
3. Which of the following banks acquired New Bank of India in 1993?
   A) Punjab National Bank
   B) State Bank of India
   C) Bank of Baroda
   D) Union Bank of India
   
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   Option A
   Explanation: The Government of India nationalized New Bank of India in 1980. Punjab National Bank acquired New Bank of India in 1993. The only other nationalized bank merged with another—except for State Bank of India with its associate banks was the merger of Bharatiya Mahila Bank with State Bank of India in 2017.
4. The Kisan Credit Card scheme was introduced based on the recommendation of which committee?
   A) Dantwala Committee
   B) R.V. Gupta Committee
   C) Dr Vyas Committee
   D) Deepak Mohanty Committee
   
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   Option B
   Explanation: The Kisan Credit Card (KCC) scheme is a credit scheme introduced in August 1998 by Indian banks. This model scheme was prepared by the National Bank for Agriculture and Rural Development (NABARD) on the recommendations of R.V.GUPTA committee to provide term loans and agricultural needs.
5. UTI Bank was the former name of which of these banks?
   A) HDFC Bank
   B) Yes Bank
   C) Axis Bank
   D) ICICI Bank
   
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   Option C
   
6. The Commercial Papers cannot be issued by_____________
   A) Primary Dealers
   B) Companies
   C) All Indian Financial Institutions 
   D) Commercial Banks
   
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   Option D
   
7. Which among the given is not designated as All India Financial Institutions (AIFI) by RBI?
   A) EXIM Bank
   B) IDBI
   C) SIDBI
   D) NABARD
   
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   Option B
   Explanation: Export – Import Bank of India (Exim Bank), National Bank for Agriculture and Rural Development (NABARD), Small Industries Development Bank of India (SIDBI) and National Housing Bank (NHB) are the four institutions regulated by Reserve Bank of India as all-India Financial Institutions:
8. The Board for Financial Supervision (BFS) has been constituted by RBI to supervise
   A) Commercial banks
   B) Financial Institutions and NBFCs
   C) Urban cooperative banks and Primary dealers
   D) All the above
   
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   Option D
   Explanation: The BFS was initially given the mandate for supervision of commercial banks, Financial Institutions and NBFCs. Later, urban cooperative banks and primary dealers were also brought under the purview of the BFS
9. How many Banking Ombudsman office are currently operational in India?
   A) 22
   B) 21
   C) 20
   D) 19
   
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   Option A
   
10. Which among the given banks is not nationalized?
    A) Corporation Bank
    B) Vijaya Bank
    C) Federal Bank
    D) Oriental Bank of Commerce
    
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    Option C
    

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