Banking Awareness Quiz

Banking Awareness Quiz – Set 268: 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. The rate at which the Reserve Bank is ready to buy or rediscount bills of exchange or other commercial papers is known as?
   A) Repo Rate
   B) MSF
   C) Reverse Repo Rate
   D) Bank Rate
   
   View answer

     Option D
   Explanation: Bank Rate
2. _____________ is an automated electronic payment service which allows you to make monthly payment to the billing organisation (BO) from your bank account directly.
   A) LIFO
   B) FIFO
   C) GIRO
   D) RIGO
   
   View answer

     Option C
   Explanation: GIRO is a convenient, paperless and cashless payment method. It enables you to make hassle-free monthly payments to BOs through your bank account.
3. What is the full form of GIRO?
   A) General Internal Receiving Order
   B) General Interbank Recurring Order
   C) Generic Interbank Remote Order
   D) Generic Internal Remote Order
   
   View answer

   Option B
   Explanation: General Interbank Recurring Order
4. Which of the following is an example of GIRO payment in India?
   A) NEFT
   B) RTGS
   C) BBPS
   D) IMPS
   
   View answer

   Option C
   Explanation: Bharat Bill Payment System (BBPS)
5. Government of India sets the inflation target once in every ________ years.
   A) 4
   B) 5
   C) 6
   D) 8
   
   View answer

   Option B
   Explanation: inflation target to be set by the Government of India, in consultation with the Reserve Bank, once in every five years. the Central Government has notified in the Official Gazette 4 per cent Consumer Price Index (CPI) inflation as the target for the period from August 5, 2016 to March 31, 2021 with the upper tolerance limit of 6 per cent and the lower tolerance limit of 2 per cent.
6. Market Stabilisation Scheme (MSS) was introduced in which year?
   A) 2001
   B) 2004
   C) 2007
   D) 2010
   
   View answer

   Option B
   Explanation: 2004
7. The Monetary Policy Committee of RBI has how many members?
   A) 5
   B) 6
   C) 8
   D) 10
   
   View answer

   Option B
   Explanation: six
8. Ways and Means Advances is provided by?
   A) SEBI
   B) SBI
   C) RBI
   D) NPCI
   
   View answer

   Option C
   Explanation: To Central and State Govt.
9. What is the total priority sector lending target for Regional Rural Banks?
   A) 40%
   B) 25%
   C) 75%
   D) 60%
   
   View answer

   Option C
   Explanation: 75%
10. Banks Board Bureau (BBB) has how many members?
    A) 5
    B) 6
    C) 7
    D) 8
    
    View answer

    Option C
    Explanation: seven

Read Banking Awareness Topics

Attempt Banking Awareness Quiz