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Banking Awareness Quiz – Set 232

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. Cheques comes under the purview of NI Act, 1881 in India. What does NI stand for?
    A) New Instruments

    B) Negotiable Instruments
    C) Non-Reversible Instruments
    D) Nested Instruments
    View answer
      Option B
    Explanation: Negotiable Instruments
  2. Banks can borrow from which of the following institutions under the MSF window?
    A) NABARD

    B) SEBI
    C) RBI
    D) IMF
    View answer
      Option C
    Explanation: Reserve Bank of India
  3. What does M stands for in MCLR?
    A) Maximum

    B) Minimum
    C) Managerial
    D) Marginal
    View answer
    Option D
    Explanation: Marginal Cost of Funds based Lending Rate
  4. Where was the headquarters of Reserve Bank of India established initially?
    A) Mumbai

    B) Chennai
    C) Calcutta
    D) Delhi
    View answer
    Option C
    Explanation: The Central Office of the Reserve Bank was initially established in Calcutta but was permanently moved to Mumbai in 1937.
  5. Which entity in India has the sole right to mint coins?
    A) Reserve Bank of India

    B) Government of India
    C) State Bank of India
    D) SEBI
    View answer
    Option B
    Explanation: The Government of India has the sole right to mint coins. The responsibility for coinage vests with the Government of India in terms of the Coinage Act, 1906
  6. In commercials banks, the ‘no-frills’ account has been replaced by?
    A) Suvidha Account

    B) Savings Account
    C) Small Account
    D) BSBDA
    View answer
    Option D
    Explanation: Basic Savings Bank Deposit Account
  7. Who determines the rate of interest under the Gold Monetisation Scheme?
    A) Reserve Bank of India

    B) Commercial Banks
    C) Government of India
    D) Collection and Purity Testing Centre
    View answer
    Option C
    Explanation: rate of interest is determined by the Central Government and advised to banks by RBI.
  8. What is the tenor range of dated Government securities?
    A) 5 years to 40 years

    B) 5 years to 30 years
    C) 5 years to 20 years
    D) 10 years to 30 years
    View answer
    Option A
    Explanation:
  9. ______________ are the securities created by way of separating the cash flows associated with a regular G-Sec into separate securities.
    A) SGB

    B) OLTAS
    C) STRIPS
    D) SDL
    View answer
    Option C
    Explanation:
  10. RTGS is a _______ system.
    A) credit-pull

    B) debit-push
    C) debit-halt
    D) credit-push
    View answer
    Option D
    Explanation: We push the credit to another account.

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