Banking awareness important questions
● Bank rate refers:-
Answer :- Interest rate charged by RBI for banks
● Money Laundering means:-
Answer :- Money earned in illegal way
● The account maintained a custodian bank for maintenance and servicing of dematerialized government securities owned :- a retail customer is:-
Answer :- Gilt account
● Gilts with a maturity less than 3 years is called as:-
Answer :- Ultra short
● Which tools is not a Qualitative Credit Control tool ?
Answer :- Bank rate
● Credit Authorization Scheme was introduced :-
Answer :- P.C.Bhattacharya
● Credit Authorization Scheme is a tool of:-
Answer :- Quantitative Credit Control
● The loan given to the needy to help them self employed is:-
Answer :- Microcredit
● The rate at which the Reserve Bank of India borrows money from other bank is called as:-
Answer :- Reverse Repo Rate
● Statutory Liquidity Ratio (SLR) is maintained :-
Answer :- RBI
● Inflation occurs when:-
Answer :- There is increase in the price of goods and services
● Reference Rate and Base Lending Rate are the other names of:-
Answer :- Prime Interest Rate
● A foreign company purchasing the stock of Indian company is called as:-
Answer :- Foreign Indirect Investment
● IPO stands for:-
Answer :- Initial Public Offering
● Who can be a nominee for savings account in a bank ?
Answer :- Blood relation only
● RBI issuing currency is called as:-
Answer :- Legal Tender
● During which year the usage of Rs.1000, Rs.10,000 and Rs. 5000 was stopped for the second time ?
Answer :- 1978
● Every year the volume and value of the currency note to be printed is decided :-
Answer :- RBI
● ICRA stands for:-
Answer :- Investment Information and Credit Rating Agency of India Limited
● In banking, CORE stands for:-
Answer :- Centralized Online Real-Time Exchange
● NABARD was established in the year:-
Answer :- 1982
● The headquarter of World Bank is in:-
Answer :- Washington
● Which is the largest public sector Bank of India ?
Answer :- SBI
● Which is the safest card for transaction ?
Answer :- Maestro
● FRBM stands for:-
Answer :- Fiscal Responsibility & Budget Management
● India Millennium deposit Scheme was introduced :-
Answer :- SBI
● Which types of loans are teaser rates related?
Answer :- Home loans
● What does M in M-Banking Facility stand for?
Answer :- Mobile Phone
● Which cities is the Head Office of Reserve Bank of India located?
Answer :- Mumbai
● The reserves held in Commercial Banks over and above the statutory minimum, with the RBI are called :-
Answer :- Excess reserves
● In which year was the Imperial Bank of India rechristened as State Bank of India?
Answer :- 1955
● Banking in India is controlled :-
Answer :- Reserve Bank of India
● The Imperial Bank of India, after its nationalization came to be known as:-
Answer :- State Bank of India
● Regional Rural Banks are sponsored :-
Answer :- Nationalised Commercial Bank
● Which is the country’s third largest private sector lender whose name has been officially changed to the Axis Bank ltd. ?
Answer :- UTI Bank
● Expand the term LIBOR as used in financial banking sectors?
Answer :- London Inter Bank Offered Rate
● SARFAESI Act 2002 related with:-
Answer :- Recovery of bad loans
● In which denomination were India's first bimetallic coins issued in the year 2009?
Answer :- Rs. 10
● The share of State Govt in the capital of Regional Rural Bank is:-
Answer :- 15%
● When did the National Housing Bank start its operations?
Answer :- 9th July, 1988
● As per the RBI Guidelines, on which days RTGS facility will not operate?
Answer :- 2nd Saturday & 4th Saturday of the month
● Which are to be followed in Commercial Banks for risk management?
Answer :- Basel II norms
● Which norms intends to strengthen Bank Capital requirements?
Answer :- Basel III norms
● Which was the first bank to introduce cheque system in India?
Answer :- Bengal Bank
● Which is known as a Savings Bank Account opened with a commercial bank with zero balance or very minimal balance?
Answer :- No-frills Account
● Name the initiative launched by the Finance Minister Arun Jaitely to revamp functioning of public sector banks, PSBs on 14th Aug’15?
Answer :- Indradhanush
● What is the full form of CVV?
Answer :- Card Verification Value
● Which is the committee on Banking Ombudsman?
Answer :- Suma Verma Committee
● What does the acronym DICGC mean?
Answer :- Deposit Insurance and Credit Guarantee Corporation
● Subprime lending' is a term applied to the loans made to:-
Answer :- Those borrowers who do not have a good credit history
● Which bank launched Mobile Bank Accounts in association with Vodafone's m-paisa?
Answer :- HDFC Bank
● Which is the largest private sector bank in India?
Answer :- ICICI Bank
● When did the banking crisis of 1913-1917 end?
Answer :- 1949
● Who sets up Base Rate for Banks?
Answer :- RBI
● What happens if a crossed cheque is presented for payment?
Answer :- It can be paid only through a banker
● What is an Indian Depository Receipt?
Answer :- An instrument in the form of depository receipt created by an Indian depository against underlying equity shares of the issuing company
● What are NEFT and RTGS about?
Answer :- Electronic fund transfer from bank to bank
● When should an account be treated as out of order?
Answer :- If the outstanding balance is less than the sanctioned limit/drawing power and no credits continuously for 90 days
● Which organization provides credit history of the borrowers?
Answer :- CIBIL
● Which gives consumers the right to see their credit records and correct mistakes?
Answer :- The Fair Credit Reporting Act (FCRA)
● Which is the ratio of the loan principal to the appraised value?
Answer :- Loan-to-Value Ratio
● Which is the policy that offers multiple coverage combinations for both buildings and contents?
Answer :- PRP(Preferred Risk Policy).
● Which is the Oldest Joint Stock Bank of India which is still working?
Answer :- Allahabad Bank
● Which is the minimum lending rate decided by RBI which shall be adopted in all Public-Sector Banks?
Answer :- Base rate
● Which is controlled by the World Wide Web?
Answer :- Virtual Banking
● Which is merged with SEBI?
Answer :- FMC
● What will be the impact if Reserve Bank of India reduces the Bank Rate by 1%?
Answer :- More liquidity in the market
● Which focuses on the financial needs of the institutional clients and the industry?
Answer :- Wholesale Banking
● Which was the first bank to introduce credit card in India?
Answer :- Central Bank of India
● The Hinduja Group, headquartered at London, UK owns the IndusInd Bank in India. Where are the headquarters of IndusInd bank?
Answer :- Mumbai
● Which was the first exchange in the country to provide a modern, fully automated screen-based electronic trading system?
Answer :- NSE
● Which Life insurance policy is provided under PMJJBY?
Answer :- Term insurance
● Which is the correct share of Central, State and Sponsor Bank in RRBs is:-
Answer :- 50%, 15%, 35%
● Name the mobile banking app of Kotak Mahindra Bank (KMB) launched primarily for un-banked regions?
Answer :- Kotak Bharat
● On which rate base, overnight money is needed by bank from RBI?
Answer :- Marginal Standing Facility (MSF)
● Which country has the largest shadow banking market in world?
Answer :- USA
● E in MSME sector stands for?
Answer :- Enterprises
● Which bank was the first to deploy Talking ATMs for differently abled person?
Answer :- Union Bank of India
● Which organization provides guarantee to the exporters?
Answer :- Export Credit Guarantee Corporation
● Stock Holding Corporation of India Ltd (SHCIL) was established in 1986 as?
Answer :- Public limited
● Which bank has launched USSD based mobile app for basic banking needs with NPCI?
Answer :- Union Bank of India
● Original headquarters of RBI were located at which place?
Answer :- CalcuttaIn 1937, it was shifted to Shahid Bhagat Singh Marg, Mumbai.
● Which type of banking is most helpful in cross-selling?
Answer :- Relationship Banking
● Which Grameen Bank has launched Bank Sakhi scheme to promote and popularize cashless transactions in rural areas?
Answer :- Karnataka Vikas Grameen Bank
● Which type of banking system focuses on expansion through branches?
Answer :- Branch Banking
● RBI has launched new restructuring tool S4A to raise banks moral hazard risk. S4A stands for:-
Answer :- Scheme for Sustainable Structuring of Stressed Assets
● Which is the clearing agency for Government securities?
Answer :- CCIL
● Which was the first Indian bank to open a branch on foreign soil?
Answer :- Bank of IndiaBank of India is the first Indian bank to open branch outside India at London in 1946.
● Who insures banks in India?
Answer :- DICGC,Deposit Insurance and Credit Guarantee Corporation (DICGC
● Which is a tool that helps RBI to stabilize money supply and prices of Government securities?
Answer :- OMO(open market operation)
● Referring to various types of banking,Mixed banking is:-
Answer :- Banking system that combines commercial and investment banking
● Which bank has become the first private sector bank to sell Indian gold coins?
Answer :- Federal Bank
● What is the overdraft allowed to the account holder after 6 months of satisfactory operation of Pradhan Mantri Jan Dhan Yojana account?
Answer :- Rs. 5000
● What is the slogan of the Pradhan Mantri Jan Dhan Yojana?
Answer :- Mera Khata Bhagya Vidhata
● Upto what age of the girl child can an account under the Sukanya Samriddhi Yojana be opened?
Answer :- 10 years
● For how many years can deposits be made in an account under the Sukanya Samriddhi Yojana?
Answer :- 15 years
● What is the maximum number of accounts a natural or legal guardian can open for his girl children under the Sukanya Samriddhi Yojana?
Answer :- Three(Only 2 accounts can be opened under normal circumstances but 3 accounts may be opened if the twin girls have been born in the second birth.)
● What is the minimum annual deposit to be made in an account under the Sukanya Samriddhi Yojana?
Answer :- Rs. 250
● What is the maximum amount that can be deposited in a year in an account under the Sukanya Samriddhi Yojana?
Answer :- Rs. 1,50,000
● What is the insurance cover provided to a holder of Pradhan Mantri Jan Dhan Yojana account in case of accidental death?
Answer :- Rs. 1,00,000
