Banking Awareness Questions MCQs

Total Questions : 402

Page 1 of 21 pages
Question 1. Commercial banks in India were nationalized in 1969 because :
  1.    There was urban bias
  2.    Agriculture sector was neglected
  3.    There was concentration of economic power
  4.    All of the above
Answer: Option D
Question 2. Which of the following organization finance the Rural Infrastructure Development Fund?
  1.    NABARD
  2.    SEBI
  3.    SIDBI
  4.    RBI
Answer: Option A
Question 3. Justice Mukul Mudgal comm. is related with which of the following subject?
  1.    IPL spot fixing
  2.    Hike in prices of Automobile
  3.    Rise in prices of petrol
  4.    Banking Reforms
Answer: Option A
Question 4. After how many years of terrorist attack World Trade Centre reopen for business?
  1.    12 years
  2.    13 years
  3.    15 years
  4.    7 years
Answer: Option B
Question 5. Slogan of poverty Abolition was given in which Five Year Plan?
  1.    First five year plan
  2.    Second five year plan
  3.    Third five year plan
  4.    Fifth fiver year plan
Answer: Option D
Question 6. The sensitive Index of National Stock Exchange of India is popularly known as-
  1.    Sensex
  2.    CRIS
  3.    Nifty
  4.    CSE
Answer: Option C
Question 7. When the government tries to meet the gap of public expenditure and public revenue through borrowing from the banking system, it is called as :
  1.    Credit Financing.
  2.    Debt Financing
  3.    Deficit Financing.
  4.    Internal Debt.
Answer: Option C
Question 8. What is the relationship between a bank and customer when a locker is rented out by a bank to a person :
  1.    Bailor and Bailee
  2.    Bailee and Bailor
  3.    Principal and Agent
  4.    Lessee and Lessor
Answer: Option D
Question 9. World Photography day is observed on :
  1.    17th August
  2.    19th August
  3.    20th August
  4.    22nd August
Answer: Option B
Question 10. Non-bank entities must have net worth of at least how much to be eligible for operating white label ATMs :
  1.    Rs. 100 cr.
  2.    Rs. 200 cr.
  3.    Rs. 300 cr.
  4.    Rs. 400 cr.
Answer: Option A
Question 11. Which of these should be practiced when using a credit card?
  1.    Pay only the minimum balance since it is allowed
  2.    Throw away the receipt signed by you immediately after receiving from the cashier
  3.    Memories your PIN number and do not leave your PIN number in your wallet
  4.    Maintain as many cards as possible for convenience
Answer: Option C
Question 12. In India, the Chit funds are governed / regulated by ___.
  1.    RBI
  2.    Central Government
  3.    State Governments
  4.    Local Bodie
Answer: Option C
Question 13. Which of the statement on Islamic banking is incorrect?
(A) Islamic banking is only for Muslims.
(B) Islamic banking activity do not allow paying and receiving of interest.
(C) Islamic banking promotes the principle of profit sharing between banking institution and depositor.
  1.    Only A
  2.    Only B
  3.    Only C
  4.    Both B and C
Answer: Option A
Question 14. What is the role of the Credit Bureau?
(A) Blacklist borrowers with bad credit record.
(B) Collects credit information on borrowers and supplies the information back to lenders.
(C) Gives credit assessment of borrowers.
(D) Dictates credit decisions of financial institutions.
  1.    Only A
  2.    Only B
  3.    Only C
  4.    Only D
Answer: Option B
Question 15. A joint account mandates both account holders to sign,it means that -
(A) Any deposit made must be signed by both parties.
(B) Any withdrawal made must be signed by both parties.
(C) Any deposit and withdrawal made must be signed by both parties.
  1.    Only A
  2.    Only B
  3.    Only C
  4.    Both B and C
Answer: Option B
Question 16. Which of the following will not help you in reducing your budget deficit?
(A)Trimming of unnecessary expenses.
(B) Creating a spending plan and monitoring expenses.
(C)Borrow from friends to meet daily expenses.
(D)Taking a money management course.
  1.    Only A
  2.    Only B
  3.    Only C
  4.    Only D
Answer: Option C
Question 17. Which one of the following was the purpose of the appointment of Rangachary committee?
(A)Taxation of software Development Centres & IT Sector.
(B)Taxation of Biotechnology and Pharmacy sector.
(C)Taxation of MSME sector.
  1.    Only A
  2.    Only B
  3.    Only C
  4.    Both B and C
Answer: Option A
Question 18. Once a Budget has been presented in the Parliament, the government has to get all money bills related to the union budget passed within ________.
  1.    30 Days
  2.    60 Days
  3.    75 Days
  4.    90 Days
Answer: Option C
Question 19. The difference between the outflow and inflow of foreign currency is known as ___
(A) Foreign Exchange Reserves
(B) Current Account Deficit
(C) Fiscal Deficit
(D) Balance of Payments
  1.    Only A
  2.    Only B
  3.    Only C
  4.    Only D
Answer: Option B
Question 20. Which among the following schemes of the Government was launched with an objective of a slum free India?
(A) Indira Awas Yojana
(B) Rajiv Awas Yojana
(C) Ambedkar Awas Yojana
(D) Grahalaxmi Scheme
  1.    Only A
  2.    Only B
  3.    Only C
  4.    Only D
Answer: Option B

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