Banking Awareness Quiz – Set 63 – Miscellaneous
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.
- Who is a Banking Ombudsman?
A) Chief Vigilance Officer of a bank
B) Chairman of the bank
C) An independent authority appointed by the RBI to address customer complaints
D) An official in the Ministry of Finance, GOI
- Which of the following statements best define the current account in a bank?
A) Account where balance should always be kept high
B) Account where interest is not paid on the balance
C) Account in which transaction should take place daily
D) Account for the purpose of availing credit facilities
- Know Your Customers (KYC) norms should be strictly followed by the banks. What does KYC means?
A) Ensuring that bank staff members know the customers personally
B) Organising regular customer service meetings
C) Providing improved customer services
D) Determining the identity and residence proof of account holders through approved documents
- Which among the given options affect the interest rates?
A) Inflation rate
B) Government Borrowings
C) Supply of Money
D) All of the above
- What is the longest permissible period for which a fixed deposit can be accepted by a commercial bank?
A) 15 years
B) 10 years
C) 8 years
D) No limit
- CASA is the cheapest and major source of funds for banks. What is the full form of CASA?
A) Credit Aspect and Savings Aggregation
B) Customer Analysis and Savings Pattern
C) Current Account and Savings Account
D) Cost Appreciation and Selling Analysis
- Which among the following is the drawee bank in respect of a cheque?
A) The bank on which the cheque is drawn
B) The payee’s bank
C) The bank which collects the cheque
D) The endorse’s bank
- Who determines the rate of interest payable on the bank deposits?
A) Indian Bank’s Association
B) Reserve Bank of India
C) The Bank concerned
D) Ministry of Finance
- We know that the financial year for banks in India is April-March. But what is the financial year followed by the Reserve Bank of India?
A) April-march
B) January-December
C) June-May
D) July-June
- Which is the first public sector bank in India to launch its own Mutual Fund Scheme?
A) Punjab National Bank
B) State Bank of India
C) Bank of Baroda
D) Allahabad Bank