Banking Awareness Quiz - Part 14

Banking awareness quiz for upcoming IBPS exams :-

Q1. A scheduled bank must be:

a) Company incorporated by any law in force in any place in India.

b) An institution notified by GOI.

c) A company as defined by Companies Act, 2013.

d) All of the Above

e) None of These

Q2. Financial assistance for a sum of Rs. 5,000 can be called as:

a) Short Term Money

b) Little Finance

c) Micro Finance

d) Small Finance

e) None of These

Q3. An index of financial inclusion has been launched for first time in 2008 by:

a) NSE

b) ICRIER

c) BSE

d) RBI

e) None of These 

Q4. ICRIER stands for:

a) International Council on Research in Economic References 

b) Indian Career Research Institute in Economic Relation

c) Indian Council for Research on International Economic Relations

d) International Coverage on Research Institute for Economic Rates

e) None of These

Q5.  Which of the following is a third party product often sold by banks:

a) Gift cheques

b) Credit cards

c) Debit cards

d) Mutual funds

e) None of These

Q6. FD in commercial bank can be done for maximum period of:

a) 10 Years

b) 15 Years

c) No Limit

d) 9 Years 

e) None of These

Q7. Which of the following happened to be the first private bank in India to receive an in-principle approval from RBI?

a) HDFC Bank

b) ICICI Bank

c) Yes Bank

d) United Western Bank

e) None of These

Q8. KYC policy has been actually innovated by:

a) Fed Reserve of USA

b) Basel committee

c) RBI

d) GOI, Ministry of Finance

e) None of these

Q9. FDI stands for:

a) Foreign Development in India

b) Frequent Direct Investment

c) Foreign Direct Investment

d) Financial Development In India

e) None of These

Q10. Reduction in general level of prices in an economy is known as:

a) Inflation

b) Shortage of Goods

c) Deflation

d) Supply Shortage

e) None of These

Q11. A general increase in prices and fall in the purchasing value of money:

a) Poverty Increment 

b) Deflation

c) Inflation

d) Increased Goods Supply

e) None of These

Q12. FII stands for:

a) Foreign Investment Index

b) Foreign Institutional Investor

c) Federation of Investment in India

d) Federation of International Investment

e) None of These

Q13. SEBI is a:

a) Statutory Body

b) Constitutional Body

c) Advisory Body

d) Non Statutory Body
e) None of These

Q14. _____is the rate of interest which is levied on long term loans and advances taken by commercial banks from RBI:

a) Reverse Repo Rate

b) Fixed Interest Rate

c) Bank Rate

d) Repo Rate

e) None of These

Q15. The amount of cash funds that the banks have to maintain with RBI is known as:

a) Repo Rate

b) Cash Reserve Ratio

c) Base Rate

d) Mortgage Rate

e) None of These

Q16. Reserve Bank of India was nationalized in:

a) 1948

b) 1949

c) 1947

d) 1945

e) None of These

Q17. Those amounts due to vendors or suppliers that must be paid within one year is known as:

a) Loan Advances 

b) Accounts Payable

c) Creditors

d) Debtors

e) None of These

Q18. The maximum compensation by Banking Ombudsman for a complaint is:

a) Rs.1 lakh

b) Rs.2 lakh
c) Rs.5 lakh
d) Rs.10 lakh

e) None of These

Q19. Which of the following Cheque is not honoured by the bank?

a) Stale Cheque
b) Crossed Cheque
c) Self Cheque
d) Open Cheque

e) None of These

Q20. Banking comes under:

a) Agriculture Sector 

b) Rural Sector 

c) Service Sector

d)  Finance Sector

e) None of These

Take previous quiz :-

Banking awareness Quiz 1, Quiz 2, Quiz 3, Quiz 4 , Quiz 5 , Quiz 6, Quiz 7, Quiz 8,Quiz 9, Quiz 10, Quiz 11, Quiz 12 and Quiz 13.