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Banking Awareness MCQs, Banking Awareness

Banking Awareness For Syndicate Bank, Canara Bank & Upcoming Bank Exams

1. India ranked 30th among 100 countries on Global Manufacturing Index (GMI). The Index is released by

  1. International Bank for Reconstruction and Development (IBRD)
  2. World Economic Forum (WEF)
  3. World Bank
  4. IMF
  5. Reserve Bank of India

2. India has contributed $50000 to the UN’s youth mission, aims to raise awareness and attention to youth issues globally. Who among the following is the Secretary General of UN?

  1. Yukia Amano
  2. Jim Yong Kim
  3. Roberto Azevedo
  4. Antonio Guterres
  5. Takehiko Nakao

3. Federal Bank has entered into a strategic partnership with Hedge Equities Ltd for providing PIS services to NRIs. In the term PIS, the letter ‘I’ stands for

  1. Investor
  2. Income
  3. Information
  4. Institustion
  5. Investment

4. Which of the following PSBs is merged with Capital First Ltd in a share swap deal?

  1. Federal Bank
  2. IndusInd Bank
  3. IDFC Bank Ltd
  4. Kotak Mahindra Bank
  5. HDFC Bank

5. A term for the collection of non-bank financial intermediaries that provide services similar to traditional commercial banks but outside normal financial regulations is known as ___________.

  1.  Virtual banking
  2. Common banking
  3. Unit banking
  4. Shadow banking
  5.  None of these

6. Which of the following was the first bank to introduce the concept of the ATM in India way back in 1987?

  1. Citibank
  2. HSBC
  3. Standard Chartered
  4. DBS Bank Ltd.
  5. None of these

7. Banks allow the individual to continue withdrawing money even if the account has no funds in it or not enough to cover the withdrawal. This facility is known as

  1. Overdraft
  2. Commercial paper
  3. Demand draft
  4. Cheque system
  5. None of these

8. Recently, the CSO has released the First Advance estimates of national income at constant (2011-12) and current prices, for the financial year 2017-18, forecasting the GDP growth at 6.5% for 2017-18 compared with the growth of 7.1% in 2016-17.  The chief statistician of CSO is

  1. Anant Geete
  2. Jitendra Singh
  3. T C A Anant
  4. Alphons Kannanthanam
  5. None of these

9.  The Central Board of Direct Taxes (CBDT) has announced to relax norms around levy of MAT for insolvent companies. In the term MAT, ‘A’ stands for

  1. Alternate
  2. Amount
  3. Account
  4. Advance
  5. None of these

10. Headquarters of Dhanlaxmi Bank is located in _________.

  1. Karnataka
  2. Kerala
  3. Tamil Nadu
  4. Rajasthan
  5. Mumbai

11. When we opt for a loan, generally the bank offers to repay the amount in Equated Monthly Instalments (EMIs). EMIs comprise

1)  only the principal

2)  only the interest

3)  both principal and interest

4)  only interest for half the loan tenure and then both principal and interest

5)  None of these

12. Expand the term TARC.

1) Trade Administration Reform Commission

2) Territorial Administration Reform Commission

3) Tiered Administration Reform Commission

4) Tax Administration Reform Commission

5) None of these

13. Open Market Operations (OMOs) are among the measures taken by the RBI to control credit expansion in the economy. OMOs mean

1) Auction of precious metals

2) Sale or purchase of short-or long-term govt securities

3) Issuance of different types of bonds

4) Facilitating direct finance to borrowers

5) None of these

14. A Banking Ombudsman will not entertain a complaint if the compensation sought by the complainant is beyond

1) `2 lakh               2) `5 lakh               3) `10 lakh

4) `20 lakh            5) `50 lakh

15. What is the meaning of a scheduled bank?

1)  The bank incorporated under the Banking Companies Act 1956

2)  The bank authorised to do banking functions

3)  The bank included in the Second Schedule of the RBI Act 1934

4)  The bank functioning under the provisions of the Banking Regulation Act 1949

5)  None of these

16. Which of the following is NOT a negotiable instrument?

1) National Savings Certificate

2) Promissory note

3) Bill of exchange

4) Demand draft

5) Cheque

17. One of the primary functions of the RBI is to control the supply as well as the cost of credit in the country. One of the tools it uses for the purpose is Cash Reserve Ratio (CRR). Which of the following statements is/are NOT correct about CRR?

1)  Under CRR a certain percentage of the total bank deposits has to be kept in the current account with the                    RBI.

2)  Banks do not earn anything on the money parked under CRR.

3)  Banks are allowed to lend the money parked under CRR to individual borrowers but not to commercial                     borrowers.

4)  The current CRR is 4 per cent.

5)  None of these

18. Which of the following is NOT correct with respect to Statutory Liquidity Ratio (SLR), a tool used by the RBI?

1)  It is the amount a commercial bank needs to maintain in the form of cash or gold or govt approved                             securities (Bonds) before providing credit to its customers.

2)  It is determined and maintained by the RBI in order to control the expansion of bank credit.

3)  The RBI can ensure the solvency of a commercial bank with SLR.

4)  The RBI compels the commercial banks to lend to priority sector through SLR.

5)   None of these

19. The capital markets regulator SEBI cleared a slew of reforms recently. Which of the following is NOT among these reforms?

1)  It has made it mandatory for all listed PSUs to have at least 25 per cent public shareholding within three                    years.

2)  It proposed easing of the Offer For Sale (OFS) norms wherein retail investors would be provided with 10                   per cent reservation.

3)  Non-promoters with more than 10 per cent stake in the company would be allowed to tap the OFS route.

4)  It has asked not to share KYC (Know Your Client) information with entities regulated by other financial-                   sector watchdogs.

5)  None of these

20. The Cheque Truncation  System (CTS) was introduced  for faster clearing of cheque, in which of the following years?

1) 2012

2) 2010

3) 2011

4) 2005

5) 2006

21. According to the recent guideline by RBI, what is the Maximum MDR for debit card transactions for Small merchants (with turnover upto ₹ 20 lakh during the previous financial year) in Physical POS?

1) 0.30%

2) 0.5%

3) 0.40 %

4) 0.60%

5) 0.90%

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