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Banking Awareness MCQs, Banking Awareness

Banking/Financial Awareness Quiz for Canara/SBI & Upcoming Bank Exams

1. According to the Income Tax Act of 1961, the age of Super Senior Citizens should be-

(a) 60 years

(b) 70 years

(c) 80 years

(d) 75 years

(e) 65 years

2. Which of the following economic concepts is categorised on the basis of Current Account or Capital Account or both?

(a) Balance of Payments

(b) Value of the food grain stock of a country

(c) Gross National Product

(d) Gross National Income (GNI)

(e) Total Collection of Direct Taxes in a year

3. The first Governor of the Reserve Bank of India from 1st April, 1935 to 30th June, 1937 was
(a) Sir Osborne Smith
(b) Sir James Taylor
(c) CD Deshmukh
(d) Sir Benegal Rama Rao
(e) KG Ambegaonkar

4. The Reserve Bank of India was set-up on the recommendations of the
(a) Narasimham Committee
(b) Hilton-Young Commission
(c) Mahalanobis Committee
(d) Fazal Ali Commission
(e) None of the above

5. As per the existing policy, the Cash Reserve Ratio (CRR) of scheduled banks is fixed at a certain percentage of their NDTL. What is full form of NDTL?
(a) New Demand and Tenure Liabilities
(b) Net Demand and Time Liabilities
(c) National Deposits and Total Liquidity
(d) Net Duration and Total Liquidity
(e) New Deposits and Term Liquidity

6. On which one of the following issues can SEBI penalise any company in India?
I. Violation of Banking Regulation Act.
II. Violation of foreign portfolio investment guidelines.
III. For violation of Negotiable Instrument Act.

Select the correct answer using the codes given below:

(a) Only I

(b) I, II, and III

(c) I and II

(d) II and III

(e) All of these

7. Assume that Reserve Bank of India reduces the bank rate by 1%, what will be its impact?
(a) Less liquidity in the market
(b) More liquidity in the market
(c) No change in the liquidity in the market
(d) Mobilisation of more deposits by commercial banks
(e) None of the above

8. __________ is a payment system launched by National Payments Corporation of India and regulated by the Reserve Bank of India which facilitates the instant fund transfer between two bank accounts on the mobile platform

(a) NACH

(b) BHIM

(c) UPI

(d) CPI

(e) BBPS

9. FSB is an international body for the global financial system, has placed India in the league of countries that are ‘compliant or largely compliant’ on the implementation of priority area reforms. FSB stands for-

(a) Fiscal Stability Board

(b) Financial Solution Board

(c) Financial Stability Bank

(d) Financial Stability Bureau

(e) Financial Stability Board

10. The payments bank will be registered as a public limited company under the Companies Act, 2013 and licensed under Section 22 of-

(a) Banking Regulation Act, 1949

(b) Reserve Bank of India Act, 1934

(c) State Bank of India Act, 1955

(d) NABARD Act, 1981

(e) None of the given options is true

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