BANKING AWARENESS OBJECTIVE QUESTIONS

DOWNLOAD PDF

1.    What is the full form of IFSC ?

A:    Indian Financial System code

2.    Commercial Paper can be issued for a maximum period of ?

A:    365 days

3.    The Mutual funds in India follow accounting standards laid by ?

A:    SEBI

4.    SBI launched minor a/c for children above 10 years named as ?

A:    PehliUdaan

5.    Who is the winner of Man BookerPrize 2014 ?

A:    Richard Flanagan

6.    Who is appointed as Secretary, Economic Affairs ?

A:    RajivMehrishi 

7.    There are how many digits in MICR ?

A:    9

8.    Who has been conferred with the Best Central Bank Governor award for 2014 by Euromoney magazine during October 2014?

A:    RaghuramRajan, RBI Governor

9.    PradhanMantri Jan DhanYojana (PMJDY) provides  accidental insurance benefit of?

A:    Rs. 1 lakh

10.    SainaNehwala is related to which game?

A:    Badminton

11.    Capital of Malaysia ?

A:      Kuala Lumpur

12.    International Labour Organization headquarters?

A:      Geneva, Switzerland

13.    Who is the author of the book "The Oath of the Vayuputras"?

A:      AmishTripathi

14.    Which airlines announced to purchase 250 airbus aeroplanes?

A:      Indigo

15.    Under PMJDY, how many bank accounts are opened?

A:     About 7 Crores 

BANKING AWARENESS OBJECTIVE QUESTIONS

1. Periodically Reserve Bank of India (RBI) reviews a few SLR norms. SLR stands for?

a) Statutory Liquidity Ratio

b) Statutory Liquidity Rate

c) Statutory Liquidity Return

d) Statutory Liquidity Repo

e) None of the above

2. In the recent months, Indian Rupee depreciated heavily against US Dollar. Rupee depreciation means?

a) Value of Rupee decreasing against a basket of currencies

b) Less number of Rupees per US Dollar

c) More number of Rupees per US Dollar

d) Less number of Dollars per Rupee

e) None of the above

3. In India, Commodities Market is regulated by?

a) Forward Market Commission

b) Forward Market Committee

c) Forward Market Corporation

d) Forward Market Council

e) None of the above

4. Food Security Bill is recently passed by Parliament. What does the Food Security Bill intend to achieve?

a) At least 3kg of food grains per person per month to be given to general category households, at prices not exceeding 50% of Minimum Support Price.

b) Up to 75% of the rural population and up to 50% of urban population are to be covered under Targeted Public Distribution System.

c) Children aged six months to 14 years would get take-home ration or hot cooked food.

d) The oldest adult woman in each house would be considered the head of that househole when issuing the ration card.

e) All of the above

5. FIPB stands for?

a) Foreign Investment and Production Board

b) Foreign Investment and Promotion Board

c) Foreign Investment and Promotion Bureau

d) Foreign Investment and Protection Board

e) None of the above

6. In India, Capital Markets are regulated by?

a) Securities and Exchange Board of India

b) Reserve Bank of India

c) State Bank of India

d) International Monetary Fund

e) None of the above

7. RAND is the currency of ?

a) China     

b) Japan    

c) North Korea     

d) South Africa     

e) None of the above

8. Recently RBI took several steps to control Rupee depreciation. Reason(s) for to Rupee depreciation?

a) Exports become costlier

b) Imports become costlier

c) Imports become cheaper

d) Both (a)&(c)   

e) None of the above

9. India's GDP growth is slowing down. GDP means?

a) Gross Domestic Product

b) Gross Domestic Poverty

c) Gross Demand Production

d) Gross Demand Product

e) None of the above

10.The  full  form  of  MIBOR  is

a.  Mumbai  Inter  Bank  Offer  Rate    

b. Melbourne  Inter  Bank  Offer  Rate

c. Madrid  Inter  Bank  Offer  Rate    

d. Moscow  Inter  Bank  Offer  Rate   

e. None  of  these

11.Which of the following is not a function of the RBI?

a. Bank's  Govt    

b. Custodian of foreign exchange         

c. Bank's Bank    

d. Banker to the public     

e. None of these

12. Air-Asia India is the new proposed Airline in India. It tied up with the following Industrial group for its launch in India?

a) TATAs                      

b) Reliance group     

c) Aditya Birla group   

d) Infosys  

e) None of the above

13. Kisan  Credit  Card  scheme  was launched  in  the  year?

a.  2000    

b.  1998     

c.  1996    

d.  1992    

e.  None  of  these

14. IRDA headquarters located in which City?

a) Mumbai     

b) Bangalore 

c) Hyderabad     

d) Chennai     

e) None of the above

15. "Janet Allen" is Chief of which of the following institutions?

a. World Bank     

b. African Development Bank      

c.  Asian Development Bank    

d. Federal Development Bank    

e. Federal Reserve Bank

16. Which private sector bank sets Guin -ness record in blood collection ?

a. ICICI          

b. HDFC     

c. AXIS Bank      

d. YES Bank   

e. HSBC

17. Who wrote "Planned Economy for India" in 1934?

a. Dr. VKRV Rao     

b. M. Visveswaraya     

c. Prof. Dantawala   

d. Neela Kanta Rah    

e. None

18. Recently which bank has started "Tab Banking" service ?

a. SBI     

b. PNB    

c. ICICI     

d. HDFC    

e. BOB

19. As per findings of the recent Raghuram Rajan Committee report which State is the most developed?

a) Kerala   

b) Goa  

c) Gujarat     

d) Tamilnadu       

e) None of the above

20. As per the insurance bill, 2013, Foreign Investors can hold up to?

a) 51% of the capital in an Indian insurance company

b) 39% of the capital in an Indian insurance company

c) 49% of the capital in an Indian insurance company

d) 29% of the capital in an Indian insurance company     

e) None of the above

21. Statutory Liquidity Ratio (SLR) refers to the amount that the commercial banks require to maintain with RBI. What are the permitted SLR investments?

a) Only Gold      

b) Gold or Govt approved Securities       

c) Only Govt approved Securities

d) Only Cash     

e) None of the above

22. Direct Taxes Code (DTC) is intended to be introduced in the monsoon session of Parliament. DTC seeks to replace?

a) Indian Contract Act      

b) Indirect Tax Act     

c) Income-Tax Act    

d) Banking Regulation Act      

e) None of the above

23. In July 2013, RBI notified that Non-CTS Cheques are valid till the end of year 2013. CTS means?

a) Cheque Truncation System

b) Cheque Transaction System

c) Cheque Transmission Service

d) Cheque Transport Service

e) None of the above

24. In July 2013, SEBI Act was amended to curb Ponzi schemes. Ponzi Scheme means?

a) Name of a Mutual Fund Scheme to earn higher returns

b) Collective investment Schemes floated by fly by night operators

c) Name of a Bank Deposit Product

d) Name of a Health Insurance scheme

e) None of the above

25. The minimum rate of Interest charged by a Bank from Customers on the loans is?

a) Base Rate   

b) Bank Rate     

c) Prime Rate    

d) Prime Lending Rate      

e) None of the above

26. Which of the following is NOT true with regard to FCNR Accounts?

a) NRIs can open the Account

b) Can be opened in 'Permitted Currency' only

c) Minimum Term is 1 year

d) Maximum Term 5 years

e) None of the above

27. REPO rate means?

a) Rate at which the RBI will borrow from the banks

b) Rate at which banks will borrow from other banks

c) Rate at which the RBI lends to banks

d) Rate at which banks lend to customers

e) None of the above

28. Fiscal Deficit Refers to?

a) The difference between the government's total expenditure and its total receipts(including borrowing)

b) The difference between the government's total expenditure and its total receipts(excluding borrowing)

c) The difference between the government's Tax collections and Salary payments

d) The difference between the government's Tax collections and government's Borrowings        

e) None of the above

29. "DAX" is the stock market in?

a) Germany     

b) USA     

c) France  

d) Hongkong   

e) None of the above

30. Which of the Public Sector bank tag line "India's International Bank" ?

a. SBI               

b. PNB        

c. ICICI      

d. HDFC    

e. BOB

31. Which bank has launched "travel card" for students joining abroad?

a. SBI             

b. PNB        

c. ICICI      

d. HSBC        

e. ICICI

32. Who is the Chairman of the committee set up to scrutinize applications for new Bank licenses?

a) Usha Thorat   

b) Bimal Jalan     

c) C B Bhave     

d) S Damodaran     

e) None of the above

33. Who is the World Bank President?

a) Christine Legrade    

b) Jim Yong Kim     

c) Raghuram Rajan    

d) Monteksingh Ahluwalia     

e) None of the above

34. Ben Bernanke is the Chairman of Federal Reserve. What is Federal Reserve?

a) Central Bank of UK     

b) Financial wing of the World Bank      

c) Central Bank of USA

d) European Union Central Bank    

e) None of the above

35. NEFT means?

a) National Electronic Funds Transfer

b) Negotiated Efficient Fund Transfer system

c) National Efficient Fund Transfer solution

d) Non Effective Fund Transfer system

e)Negotiated Electronic Foreign Transfer system.

36. Distribution of insurance products and insurance policies by banks as corporate agents is known as?

a) General insurance     

b) Non life insurance     

c) Bancassurance   

d) Insurance Banking     

e) Deposit Insurance

37. In respect of partnership business, LLP stands for:

a) Local Labour Promotion

b) Low Labour Projects

c) Limited Loan Partnership

d) Longer Liability Partnership

e) Limited Liability Partnership

38. What is a stale cheque?

a) A cheque issued without drawer's signature.

b) A cheque with only signature of the drawer.

c) A cheque which has completed 3 months from the date of its issue.

d) Any one of the above.         

e) None

39. Interest on savings bank account is now calculated by banks on?

a) Minimum balance during the month

b) Minimum balance from 7th to last day of the month

c) Minimum balance from 10th to last day of the month

d) Maximum balance during the month

e) Daily product basis

40. Largest shareholder (in percentage shareholding) of a Nationalized bank is ?

a) RBI     

 b) NABARD    

c) LIC     

d) Govt. of India       

e) IBA

ANSWERS:

1) A  2) C  3) A  4) E  5) B  6) A  7) D  8) B  9) A  10) A  

11) D  12) A  13) B  14) C  15) E  16) B  17) B  18) A  19) B  20) C  

21) B  22) C  23) A  24) B  25) A  26) E  27) C  28) B  29) A  30) E  

31) E  32) B  33) B  34) C  35) A  36) C  37) E  38) C  39) E  40) D