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Banking Awareness Quiz – Set 297

Banking Awareness Quiz

Banking Awareness Quiz – Set 297: This post contains Banking Awareness Quiz for Banking and Insurance exams like IBPS PO/Clerk, SBI PO/Clerk, RBI Assistant/ GRADE B, NABARD, RRB PO/Clerk, NIACL, NICL and LIC AAO/Assistant etc. These Banking Awareness sets will guide you in all upcoming banking and insurance exams.

  1. Scheduled banks are included under which schedule of the RBI act 1934?
    A) 1st schedule
    B) 2nd schedule
    C) 3rd schedule
    D) 4th schedule
    View answer
    Option B
    Explanation: Scheduled commercial banks are considered under the second schedule of the RBI act, 1934.
  2. In 1975, which committee proposed regional rural banks as a new type of regionally focus rural bank that would combine the local field and knowledge of operators with the professionalism and large resource base of commercial banks?
    A) Narasimhan
    B) H R Khan
    C) Vijay Kelkar
    D) Sivaraman
    View answer
    Option A
    Explanation: RRBs were conceptualized by the Narasimhan committee in 1975. It was considered as a new setoff regionally oriented rural banks that would combine the local feel and experience with rural difficulties that cooperative have vidya professionalism add broad resource base of commercial banks.
  3. What is the minimum paid up capital of a bank, must have to be eligible for inclusion in the Reserve Bank of India at 1934’s Second Schedule to attain Scheduled Banks’ status?
    A) Rs. 2 lakhs
    B) Rs. 4 lakhs
    C) Rs. 5 lakhs
    D) Rs. 20 lakhs
    View answer
    Option C
    Explanation: banks that are classified under schedule II, of the Reserve Bank of India act, 1934 are referred to as scheduled banks. This is to qualify as d scheduled bank , the total amount of bank should have paid up capital and raised funds of at least ₹5,00,000, after this these banks are eligible for low interest RBI loans.
  4. RRBs are Indian government owned scheduled commercial banks that operate at the regional level in several states. What is the share of the central government in the regional rural banks?
    A) 50
    B) 35
    C) 45
    D) 15
    View answer
    Option A
    Explanation: The Regional Rural Banks should have the share of 50%, 15% and 35% owned by the central government, state government and sponsoring bank respectively.
  5. What is the authorized capital of regional rural banks?
    A) ₹20 lakhs
    B) ₹50 lakhs
    C) ₹ 1 crore
    D) ₹5 crores
    View answer
    Option D
    Explanation: the authorized capital of RRBs is Rs. 5 crores.
  6. Which bank is the sponsor Bank of India’s first regional rural bank Prathama Grama bank in Uttar Pradesh?
    A) Indian bank
    B) Canara Bank
    C) Punjab National Bank
    D) Syndicate Bank
    View answer
    Option D
    Explanation: On October 2, 1975, Syndicate Bank sponsored the first regional rural bank in India, Prathama Bank, in Moradabad, Uttar Pradesh.
  7. When was the cooperative credit societies act of 1904 amended to allow noncredit societies to formed under the Mc Lagan Committee to access their performance?
    A) 1905
    B) 1909
    C) 1912
    D) 1925
    View answer
    Option C
    Explanation: the cooperative credit societies act of 1904 was amended in 1912 to allow non credit societies to be formed. The Maclagan committee was formed in 1915 to assess their performance and provide recommendations for improvement.
  8. Anyonya Co-operative Bank Limited (ACBL) is the first cooperative bank in India. Where was it located?
    A) Uttar Pradesh
    B) Gujarat
    C) Maharashtra
    D) Bihar
    View answer
    Option B
    Explanation: The first co-operative bank in India is Anyonya Co-operative Bank Limited (ACBL), which is based in Vadodara (previously Baroda) in Gujarat.
  9. The local area bank scheme was introduced in August 1996. What is the minimum paid up capital required for setting up of local area banks?
    A) Rs. 1 crore
    B) Rs. 2 crores
    C) Rs. 5 crores
    D) Rs. 10 crores
    View answer
    Option C
    Explanation: the local area bank scheme was introduced in August 1996. The minimum startup capital of a LAB was fixed at Rs. 5 crores.
  10. Which are the branches in India of the joint stock banks incorporated abroad.
    A) Regional Rural Banks
    B) Foreign Banks
    C) Local Area Banks
    D) Private Banks
    View answer
    Option B
    Explanation: Foreign banks are the branches in India of the joint stock banks incorporated abroad.

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