Banking Awareness Quiz
Banking Awareness Quiz – Set 286: These questions on Banking Awareness 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.
- How many banks were nationalized in the year 1980 in India?
A) 14
B) 6
C) 7
D) 13
View answer
Option B
Explanation: six banks, viz, Andhra Bank, Corporation Bank, New Bank of India, Oriental Bank of Commerce, Punjab and Sind Bank, and Vijaya Bank with deposit liabilities of Rs.200 crore and above, were nationalised in April 1980.
- What is the minimum paid-up capital requirement for a scheduled bank?
A) Rs 10 lakh
B) Rs 10 crore
C) Rs 5 lakh
D) Rs 5 crore
View answer
Option C
Explanation: A scheduled bank is one that is listed in the second schedule of RBI Act, 1934. 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.
- The central board of the Reserve Bank of India can have maximum of how many members?
A) 20
B) 19
C) 22
D) 21
View answer
Option D
Explanation: In total there can be maximum 21 members of the central board of the RBI.
- The Monetary Policy Committee of RBI has how many members?
A) 5
B) 4
C) 6
D) 8
View answer
Option C
Explanation: six
- What is the maximum denomination of bank note which the Reserve Bank of India can issue?
A) Rs 2,000
B) Rs 5,000
C) Rs 10,000
D) Rs 15,000
View answer
Option C
Explanation: At present, currency notes are issued in the denominations of ₹5, 10, 20, 50, 100, 200, 500 and 2000. The printing of Rs. 1 and Rs. 2 denominations has been discontinued, though the notes in circulation are valid. At present, RBI can issue bank not with value not exceeding ten thousand rupees. (Section 24 of RBI Act). The One Rupee note is issued by the Government of India.
- How many coin mints are present in India?
A) 4
B) 5
C) 6
D) 8
View answer
Option A
Explanation: Four mints are in operation: Mumbai in Maharashtra, Noida in Uttar Pradesh, Kolkata, and Hyderabad.
- Which of the following refers to facility provided by RBI under which banks can lend money from RBI overnight?
A) MSF
B) SLR
C) Repo
D) CRR
View answer
Option A
Explanation: Marginal Standing Facility (MSF)
- Who is responsible for the regulation of Depository and Depository Participants in India?
A) RBI
B) SEBI
C) Ministry of Finance
D) SIDBI
View answer
Option B
Explanation: The Securities and Exchange Board of India (SEBI) is responsible for the regulation of Depository and Depository Participants ranging from registration, regulation and inspection of the depository.
- ________ is a distributed ledger in which transactions are stored as blocks (groups of transactions that are performed around the same point in time) on computers that are connected to the network.
A) P2P
B) Fintech
C) Crowd sourcing
D) Block chain
View answer
Option D
Explanation: Block chain is a distributed ledger in which transactions (e.g. involving digital currencies or securities) are stored as blocks (groups of transactions that are performed around the same point in time) on computers that are connected to the network.
- The solicitation of funds (small amount) from multiple investors through a web-based platform or social networking site for a specific project, business venture or social cause is known as?
A) P2P
B) E-Aggregators
C) Big data
D) Crowd funding
View answer
Option D
Explanation: Crowd funding is a way of raising debt or equity from multiple investors via an internet-based platform. Securities and Exchange Board of India (SEBI) has released a paper and defined crowd funding as “solicitation of funds (small amount) from multiple investors through a web-based platform or social networking site for a specific project, business venture or social cause.”
