Banking Awareness Quiz – Set 197

Banking 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. RBI has the authority under Section 22 of Reserve Bank of India Act to issue bank notes with a denomination of:
   A) Minimum 1Rs and Maximum 1000 Rs
   B) Minimum 2Rs and Maximum 1000 Rs
   C) Minimum 1Rs and Maximum 10000 Rs
   D) Minimum 2Rs and Maximum 10000 Rs
   
   View answer

     Option D.
   Explanation: Minimum 2Rs and Maximum 10000 Rs.
2. Contains the account holder’s account number and allows money (cash or check) to be deposited into the correct account.
   A) Deposit Slip
   B) Cash Register
   C) Debit Card
   D) Pin
   
   View nswer

     Option A.
   Explanation: Deposit Slip.
3. CTS-2010 (often seen in news) is related to which of the following banking instrument?
   A) ATM
   B) Debit Card
   C) Credit card
   D) Cheque
   
   View answer

   Option D.
   Explanation:
4. How many member nations are there in the Bank for International Settlements (BIS)?
   A) 80
   B) 60
   C) 100
   D) 120
   
   View answer

   Option B.
   Explanation: 60.
5. If any cheque issue by a holder to the payee for the upcoming withdrawn date, then that type of cheques are called
   A) Post Dated Cheques
   B) Anti Dated Cheques
   C) Stale Cheque
   D) Order Cheque
   
   View answer

   Option A.
   Explanation: Post Dated cheque.
6. The main function of an Asset Management Company is to:
   A) hold the securities of various schemes
   B) manage the funds by making investments in various types of securities
   C) hold its property for the benefit of the unit holders
   D) act on behalf of SEBI
   
   View answer

   Option B.
   Explanation: manage the funds by making investments in various types of securities.
7. What is the purpose of reduction in Cash Reserve Ratio (CRR)?
   A) Reduce Credit Flow
   B) Enhance Credit Flow
   C) Enhance availability of cash
   D) Reduce Cash transactions
   
   View answer

     Option B.
   Explanation: Enhance Credit Flow.
8. The first insurance company was started in India in 1818 at:
   A) Kolkata
   B) Mumbai
   C) Delhi
   D) Pune
   
   View answer

   Option A.
   Explanation: Kolkata.
9. The headquarters of International Monetary Fund is
   A) Geneva
   B) Washington
   C) Paris
   D) London
   
   View answer

   Option B.
   Explanation: Washington.
10. When more than one bank is allowing credit facilities to one party in coordination with each other under a formal arrangement, the arrangement is generally known as:
    A) Group lending
    B) Participation
    C) Consortium
    D) Ownership
    
    View answer

    Option C.
    Explanation: Consortium.

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