Banking Awareness Quiz

Banking Awareness Quiz – Set 253: 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. In which year was the Imperial Bank of India amalgamated with other banks to form State Bank of India?
   A) 1949
   B) 1955
   C) 1934
   D) 1950
   
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     Option B
   Explanation: In 1955 State Bank of India was formed by amalgamating the Imperial Bank of India with the ten major banks associated with the former princely states.
2. What is the minimum paid up capital requirement for banks to be included in the second schedule of RBI Act 1934?
   A) Rs 1 lakh
   B) Rs 5 lakh
   C) Rs 10 lakh
   D) No such requirement
   
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     Option B
   Explanation: Banks having paid up capital of at least Rs 5 lakh are eligible for inclusion in the Second Schedule to the Reserve Bank of India Act, 1934.
3. The first Regional Rural Bank was set up in which year in India?
   A) 1972
   B) 1973
   C) 1974
   D) 1975
   
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   Option D
   Explanation: The first Regional Rural Bank “Prathama Grameen Bank” was set up on October 2, 1975.
4. Which of the following is not a foreign bank?
   A) BNP Paribas
   B) HSBC Ltd
   C) Catholic Syrian Bank Ltd
   D) All are foreign bank
   
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   Option C
   Explanation: CSB is based in Thrissur, Kerala
5. What is the capital of Reserve Bank of India?
   A) Rs 5 lakh
   B) Rs 5 crore
   C) Rs 5 million
   D) Rs 5 billion
   
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   Option B
   Explanation: The capital of the Reserve Bank of India is Rs 5 Crore.
6. The Reserve Bank can have maximum of how many Deputy Governors?
   A) 2
   B) 3
   C) 4
   D) 5
   
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   Option C
   Explanation: Maximum 4 governors
7. RBI has how many fully owned subsidiaries?
   A) 3
   B) 4
   C) 5
   D) 6
   
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   Option B
   Explanation: DICGC, BRBNMPL, ReBIT, IFTAS
8. What is the minimum limit of investment under the Kisan Vikas Patra (KVP)?
   A) Rs 500
   B) Rs 1000
   C) Rs 5000
   D) Rs 10000
   
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   Option B
   Explanation: Minimum Limit: Rs 1,000/- and Maximum Limit: No Upper Limit
9. What is the maturity period of National Savings Certificate?
   A) 2 years
   B) 3 years
   C) 4 years
   D) 5 years
   
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   Option D
   Explanation: 5 years
10. Tax benefit is available under the National Savings Certificate till what amount of investment?
    A) Rs 2 lakh
    B) Rs 1 lakh
    C) Rs 1.5 lakh
    D) Rs 5 lakh
    
    View answer

    Option C
    Explanation: Tax benefit is applicable till Rs 1.5 Lakhs

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