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Banking Awareness MCQs, Banking Awareness

Banking Awareness Questions For Upcoming Bank Exams

Q1. With effect from March 31, 2005, an asset would be classified as _____________ if it has remained in the sub-standard category for a period of 12 months.
(a) Sub-standard Assets
(b) Profit Assets
(c) Doubtful Assets
(d) Loss Assets
(e) None of the above

Q2. What is the financial limit Under MUDRA’s Shishu scheme?
(a) Rs. 5, 00,000
(b) Rs. 50,000
(c) Rs. 1, 00,000
(d) Rs. 10,000
(e) Rs. 1, 50,000

Q3. What is the financial limit Under MUDRA’s Kishor scheme?
(a) Rs. 50,000 to Rs. 10 lakh
(b) Rs. 50,000 to Rs. 3 lakh
(c) Rs. 50,000 to Rs. 1 lakh
(d) Rs. 50,000 to Rs. 2 lakh
(e) Rs. 50,000 to Rs. 5 lakh

Q4. Which among the following Incentives and facilities offered to the SEZs is not correct?
(a) Duty free import/domestic procurement of goods for development, operation and maintenance of SEZ units.
(b) Exemption from State sales tax and other levies as extended by the respective State Governments.
(c) Exemption from minimum alternate tax under section 115JB of the Income Tax Act.
(d) 100% Income Tax exemption on export income for SEZ units under Section 10AA of the Income
Tax Act for 10 years, 50% for next 5 years thereafter and 50% of the ploughed back export profit for next 5 years.
(e) Exemption from Central Sales Tax.

Q5. ___________ is a specifically delineated duty-free enclave and shall be deemed to be foreign territory for the purposes of trade operations and duties and tariffs.
(a) SEZs
(b) FDI
(c) FIPB
(d) CDR
(e) CSR

Q6. Which committee has recommended the setting up of Special Tribunals to reduce the time required for settling cases and accepting the recommendations, DRTs were established?
(a) Kelkar committee
(b) Justice Reddy committee
(c) Rangarajan Committee
(d) Sivaraman Committee
(e) Narasimham Committee

Q7. DRT has been constituted under Section 3 of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993. DRT stands for(a) Debt Recovery Tribunals
(b) Demand Recovery Tribunals
(c) Deposit Recovery Tribunals
(d) Debt Refinance Tribunals
(e) Debt Recovery Treaty

Q8. What is the financial limit Under MUDRA’s Tarun scheme?
(a) Rs. 40 lakh to Rs. 50 lakh
(b) Rs. 30 lakh to Rs. 40 lakh
(c) Rs. 20 lakh to Rs. 30 lakh
(d) Rs. 10 lakh to Rs. 20 lakh
(e) Rs. 5 lakh to Rs. 10 lakh

Q9. Who can set up an SEZ?
(a) Private sector
(b) Public sector
(c) State government
(d) All of the above
(e) Only (a) and (b)

Q10. Securitisation act 2002 is enables the banks to issue notices to defaulters who have to pay the debts within __________ days.
(a) 90 days
(b) 60 days
(c) 30 days
(d) 120 days
(e) None of the above

Q11. ___________ is vested with the responsibility of conducting monetary policy.
(a) RBI
(b) SBI
(e) Finance Ministry

Q12. In which year the Reserve Bank of India (RBI) Act, 1934 was amended to provide a statutory basis for the implementation of the flexible inflation targeting framework?
(a) May 2013
(b) May 2014
(c) May 2015
(d) May 2016
(e) May 2012

Q13. Which scheme/act has enables an expeditious and inexpensive forum to bank customers for resolution of complaints relating to certain services rendered by banks?
(a) Reserve Bank of India Act, 1934
(b) Banking Regulation Act, 1949
(c) Securitization Act 2002
(d) FEMA
(e) Banking Ombudsman Scheme

Q14. Many a times we read about Special Drawing Rights (SDR) in newspapers. As per its definition, SDR is a monitory unit of reserve asset of which the following organization/agency?
(a) World Bank
(b) International Monetary Fund (IMF)
(c) Asian Development Bank (ADB)
(d) Reserve Bank of India (RBI)
(e) None of the above

Q15. IBA adopts a consultative approach to give its views on any issue pertaining to banking sector. What is the meaning of “I” in IBA?
(a) International
(b) Institute
(c) Investment
(d) Indian
(e) Increase

Q16. IBA stands for
(a) Indian Banks’ Allocation
(b) Indian Banks’ Association
(c) Institute Banks’ Association
(d) Indian Banks’ Assembly
(e) Indian Billing Association

Q17. What is the present Repo Rate?
(a) 7.00%
(b) 6.00%
(c) 6.50%
(d) 6.75%
(e) None of the above

Q18. Which among the following rates is not the policy rate of RBI?
(a) Repo Rate
(b) Reverse Repo Rate
(c) Bank Rate
(d) Marginal Standing Facility Rate
(e) Cash Reserve Ratio

Q19. The Banking Ombudsman is a senior official appointed by…………..?
(a) Indian Government
(b) President of India
(c) Chief Justice of India
(d) Reserve Bank of India
(e) Finance Ministry

Q20. As on date, there are _________ Banking Ombudsman centre located in India.
(a) 20
(b) 19
(c) 18
(d) 17
(e) 16

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