75 General Awareness Questions for bank exams Set 1

Dear Aspirants , Find Quiz Practice On General Awareness (Banking Awareness) for bank exams 75 Questions And Answers for IBPS PO mains, SBI PO Mains, IBPS Clerk Mains And All Banking exams

75 General Awareness Questions for bank exams Set 1 1

1 .Consider the following statements:1. In Indian Commercial Banking System,the number of the Non-scheduled Bankis more than the Scheduled Banks.2. The Non-scheduled Banks in IndianCommercial Banking Systems are evenless than a dozen in number.Which of the statements given above is/arecorrect?
A.  Only 1
B.  Only 2
C.  Both 1 and 2
D.  Neither 1 nor 2
E.  Can't say
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2 .Which one of the following banks can be included in the Scheduled Commercial Banking System of India?
A.  Regional Rural Banks
B.  Private Sector Banks
C.  Foreign Banks in India
D.  All of the above
E.  None of the above
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3 .75 General Awareness Questions for bank exams Set 1 6
A.  2 4 3 1
B.  2 3 4 1
C.  4 3 2 1
D.  4 1 3 2
E.  1 2 3 4
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4 .Consider the following statements:1. Scheduled Commercial Banks are thosewhich have been included in the FirstScheduled of RBI Act, 1934.
2. Non-scheduled Commercial Banks arethose which have been included in theSecond Scheduled of RBI act, 1934.
Which of the statements given above is/arecorrect?
A.  Only 1
B.  Only 2
C.  Both 1 and 2
D.  Neither 1 nor 2
E.  Can't say
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5 .A scheduled bank is the one which is included in the
A.  II Schedule of Banking Regulation Act
B.  II Schedule of Constitution
C.  II Schedule of RBI Act
D.  All of these
E.  None of these
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6 .Presently, the number of the public sector banks in India is
A.  8
B.  20
C.  28
D.  14
E.  None of these
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7 .Which of the following is popular 'saving bank' among the poor children?
A.  Core banking
B.  Credit banking
C.  Debit banking
D.  Merchant banking
E.  Piggy banking
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8 .Who is a very senior citizen?
A.  A person who is 65 years and above
B.  A person who is 75 years and above
C.  A person who is 80 years and above
D.  A person who is 90 years and above
E.  A person who completed 100 years of age
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9 .When banks accept fixed sum of money from an individual for a defnite term and pay on maturity with interest, the deposit is known?
A.  Term deposit
B.  Demand deposit
C.  Bond
D.  Mortage
E.  Advance
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10 .Which one of the following whose activitiesare not systematically coordinated by themonetary authority?
I. Organised sector
II. Unorganised sector
III. Co-operative sector
Select the correct answer using the codesgiven below
A.  Only II
B.  I and III
C.  Only I
D.  II and III
E.  Only III
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11 .Which one of the following dominate the organised sector?
A.  RBI
B.  Commercial Bank
C.  Co-operative Bank
D.  RRBs
E.  SBI
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12 .National Saving Scheme (NSS-922) has been closed by the government since
A.  1st November, 1999
B.  1st November, 2000
C.  1st November, 2001
D.  1st November, 2002
E.  1st November, 2003
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13 .75 General Awareness Questions for bank exams Set 1 27
A.  3 4 1 2
B.  4 3 2 1
C.  1 2 3 4
D.  3 2 4 1
E.  2 3 1 4
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14 .A scheduled bank is one
A.  which conforms to the requirements of Schedule III of the Banking Regulation Act, 1949
B.  which has been declared as a scheduled bank by the Government of India
C.  which has deposits exceeding ` 10 crore
D.  which has its name added to the second schedule of the Reserve Bank of India Act, 1934
E.  None of the above
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15 .Which of the following can be identifed as a demat account?
A.  Accounts which can have zero balance
B.  Accounts opened to facilitate repayment of loan
C.  Accounts in which shares of companies are traded in electronic form
D.  Accounts maintained by mutual fund companies for investors
E.  None of the above
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16 .Which of the following is not a money market instrument?
A.  Treasury Bills
B.  Commercial Paper
C.  Certifcate of Deposit
D.  Equity Share
E.  None of these
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17 .Treasury Bills means
A.  salary bills drawn by Government offcials on the treasury
B.  bills drawee by the Government contractors and other suppliers on the treasury for the dues owed to them by the Government
C.  obligation of the Government of India issued by the Reserve Bank of India and payable normally 91 days after issue
D.  a mode of drawings by the Treasury Offce on the Reserve Bank of India
E.  None of the above
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18 .Which one of the following countries is the frst borrower of fund from the International Monetary Fund?
A.  United States
B.  France
C.  Spain
D.  India
E.  Sri Lanka
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19 .Which one of the following statements is true regarding IMF?
A.  It is not an agency of UNO
B.  It can grant loan to any country of the world
C.  It can grant loan to State Government of a country
D.  It grants loan only to member nations
E.  All of the above
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20 .Voting rights in the IMF are distributed on the basis of
A.  one country, one vote
B.  proportion to the share of the income of the country in the world income
C.  proportion to contributions given by each country
D.  proportion to quota allotted to countries from time to time
E.  None of the above
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21 .The headquarters of IMF and World Bank are located at
A.  Geneva and Montreal
B.  Geneva and Vienna
C.  New York and Geneva
D.  Washington DC
E.  Nigeria
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22 .Which one of the following institutions publish the report of 'World Economic Outlook'?
A.  IMF
B.  World Bank
C.  RBI
D.  UNCTAD
E.  Citi Bank
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23 .The capital of IMF is made up by contribution of the
A.  credit
B.  defcit fnancing
C.  member nations
D.  borrowing
E.  All of these
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24 .Special drawing right is an international practice of drawing funds. Which of the following institutions control this special fnding facility?
A.  World Bank
B.  Asian Development Bank
C.  Federal Reserve
D.  European Common Market
E.  All of the above
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25 .Nationalised banks have been permitted to offer their equity shares to the public to the extent of 49% of their capital as per amendments made in 1994, in
A.  Banking Regulation Act, 1949
B.  Banking Companies (Acquisition and Transfer of Undertakings) Acts 1970/1980
C.  RBI Act, 1935
D.  Nationalisation of Banks Act, 1980
E.  None of the above
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26 .How many banks are presently associates of State Bank of India?
A.  8
B.  7
C.  6
D.  5
E.  4
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27 .The paid-up capital of non-scheduled bank is less than
A.  ₹ 5 lakh
B.  ₹ 10 lakh
C.  ₹ 12 lakh
D.  ₹ 15 lakh
E.  None of these
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28 .A foreign bank is one
A.  whose most of the branches are situated outside India
B.  in which atleast 40% equity shares are held by non-resident Indians
C.  which is incorporated outside India
D.  All of the above
E.  None of the above
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29 .How many banks are presently nationalised banks in India?
A.  14
B.  15
C.  19
D.  20
E.  6
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30 .Which of the following are the scheduled banks?
A.  State Bank of Mauritius Limited
B.  HDFC Bank Limited
C.  ICICI Bank
D.  None of the above
E.  All of the above
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31 .Which of the following is not the part of the scheduled banking structure in India?
A.  Money lenders
B.  Public sector banks
C.  Private sector banks
D.  Regional rural banks
E.  State co-operative banks
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32 .BCSBI stands for
A.  Banking Codes and Standards Board of India
B.  Banking Credit and Standards Board of India
C.  Banking Codes and Service Board of India
D.  Banking Credit and Service Board of India
E.  None of the above
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33 .Scheduled bank means a bank
A.  incorporated under the Companies Act, 1956
B.  authorised to transact government business
C.  governed by the Banking Regulation Act, 1949
D.  included in the Second Schedule to the Reserve Bank of India Act, 1934
E.  All of the above
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34 .'Unit Banking System' is that system wherean individual bank undertakes the bankingbusiness
A.  through a single offce
B.  through a few branches operatingwithin a limited area
C.  Both (.b.) and (.c.)
D.  All of the above
E.  None of the above
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35 .Savings account with zero balance can be opened for
A.  persons of high net worth
B.  employees of IT companies
C.  weaker sections of society
D.  women customers
E.  None of the above
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36 .Which of the following is not a public sector bank?
A.  State of Hyderabad
B.  Central Bank of India
C.  Regional Rural Bank
D.  HDFC Bank
E.  None of the above
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37 .In economics, it is generally believed that the main objective of a public sector fnancial company like bank is to
A.  employ more and more people
B.  maximise total profts
C.  maximise total production
D.  sell the goods at subsidised cost
E.  All of these
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38 .Which of the following is not required for opening a bank account?
A.  Identity proof
B.  Address proof
C.  Recent photographs
D.  Domicile certifcate
E.  None of the above
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39 .Consider the following statements:
I. If the beneficiary of a cheque has lostthe cheque, he can instruct the payingbank to stop payment of the chequewithout waiting for the accountholder's instruments.
II. While outsourcing, the onlyconsideration should be cost savings
Which of the statements given above is/arecorrect?
A.  Only I
B.  Only II
C.  Both I and II
D.  Neither I nor II
E.  Either I or II
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40 .Which of the following statements is incorrect regarding a minor?
A.  A minor is a person who has not attained the gas of 18
B.  Minor does not have legal capacity to enter into a contract
C.  A current account in the name of minor can be opened when guardian of the minor operates this account
D.  A minor's account should never be allowed to be overdrawn
E.  In the event of death of a minor, the money will be payable to the guardian
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41 .RBI has deregulated interest rate for savings accounts. What does it suggest?
A.  Customers will get the beneft of higher interest rates
B.  Banks will have the right to fx their interest rates independently
C.  Each bank will have their respective interest rates without the need to adhere to fxed interest rate common to all banks
D.  Banks will decide interest rates for individual customers according to their savings.
E.  None of these
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42 .A money deposited in a bank that cannot be withdrawn for a present fxed period of time is known as a
A.  term deposit
B.  checking account
C.  savings bank deposit
D.  no frills account
E.  current deposit
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43 .Mahesh and Suresh are friends aged 14 and 15 respectively. They want to open a joint account in your bank. You will
A.  allow them to open a joint account to be operated jointly
B.  allow them to open a joint account with operating instructions either or survivor
C.  allow them to open a joint account with operating instructions former or survivor
D.  allow them to open a joint account with operating instructions any one or survivor
E.  None of these
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44 .Mangalam village became the frst village in India where all households were provided banking facilities. Mangalam village is situated in which of the following Union Territories?
A.  Delhi
B.  Chandigarh
C.  Puducherry
D.  Daman and Diu
E.  Andaman Nicobar
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45 .How does a bank establish the identity of a customer?
A.  By getting introduction of an existing customer
B.  By following KYC norms
C.  By taking AADHAR card copy
D.  All of the above
E.  None of the above
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46 .While discussing investments, there is mention of short-term government security. What is this type of investment known as?
A.  Debenture
B.  Mutual fund
C.  Treasury bill
D.  Share
E.  All of these
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47 .The commercial banking system in India consists of
A.  nationalised banks and private sector banks
B.  scheduled and non-scheduled banks
C.  regional rural banks, Co-operative banks land development banks
D.  All of the above
E.  None of the above
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48 .An institution which accepts deposits, makes business loans and offers related services is called
A.  Saving bank
B.  Commercial bank
C.  Investment bank
D.  Development bank
E.  Central bank
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49 .Money deposited with the bank becomes adebt due
A.  from the banker
B.  from the customer
C.  to the customer
D.  Either (.a.) and (.b.)
E.  None of these
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50 .Savings account with zero balance can be opened for
A.  persons of high net worth
B.  employees of IT companies
C.  weaker sections of society
D.  women customers
E.  None of the above
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51 .Who amongst the following cannot open an account in any bank in India?
A.  One who is not earning regularly
B.  A housewife
C.  A student of 10th standard
D.  A farmer who owns a small piece of land
E.  An individual who is well to do and his source of income in not known
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52 .In case a depositor is a sole proprietorand holds deposits in the name of theproprietory concern as well as in theindividual capacity, the maximuminsurance cover is available up to
A.  ₹ 100000
B.  ₹ 200000
C.  ₹ 500000
D.  All of these
E.  None of these
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53 .In case of FCNR ( 2 ) Scheme, the period forfxed deposits is
A.  as applicable to resident accounts
B.  for terms not less than 1 year and notmore than 5 years
C.  for terms not less than 2 years and notmore than 6 years
D.  at the discretion of the bank
E.  None of the above
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54 .Which of the following are the scheduled banks?
A.  The Fuji Bank Limited
B.  IDBI Bank Limited
C.  Centurian Bank of Punjab Limited
D.  All of the above
E.  None of the above
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55 .Small savings Scheme like National Savings Certifcates, Public Provident Fund, Monthly Income Schemes are popular among the salaried people. Which fnancial institutions manage these schemes?
A.  Public sector banks
B.  Commercial banks
C.  Post offces
D.  Co-operative banks
E.  Private sector bank
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56 .Which of the following statements about UCBs undertaking insurance business is/ are correct?
A.  No UCB should undertake insurance agency business without obtaining its prior permission
B.  The Reserve Bank has allowed all primary (Urban) co-operative banks to undertake insurance business on a referral basis, without any risk participation through their network of branches
C.  The banks need not obtain prior approval of the Reserve Bank to undertake referral business
D.  All of the above
E.  None of the above
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57 .In July 1969, how many commercial banks were nationalised?
A.  13
B.  14
C.  15
D.  16
E.  20
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58 .The maximum period for which a fxed deposit can be accepted by a commercial bank is
A.  10 years
B.  15 years
C.  No limit
D.  8 years
E.  None of these
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59 .The rate of interest payable on a bank deposits is determined by
A.  Indian Bank's Association
B.  the bank concerned
C.  RBI
D.  Finance Ministry
E.  None of the above
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60 .Zero balance account is generally allowed to be opened for
A.  salaried class
B.  businessmen
C.  foreign customers
D.  children
E.  senior citizens
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61 .In our country, now a cheque remains valid for payment for ............ from the date of issue.
A.  3 months
B.  6 months
C.  9 months
D.  12 months
E.  18 months
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62 .'Nomination' for a Deposit account in the bank means
A.  mandate given by the close relative(s) of the depositor, to settle the death claim in case of death of the depositor
B.  mandate decided by the bank to settle the death claim of its depositor
C.  mandate of the depositor in favour of one or more persons, to claim the amount on death of the depositor
D.  mandate of the depositor in favour of a close relative who can claim the amount on death of the depositor
E.  court order instructing the banks to settle the death claim of its depositor
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63 .New private banks are being given licences since
A.  1991
B.  1992
C.  1993
D.  1995
E.  2001
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64 .Crossing of cheques makes them
A.  invalid document
B.  ineligible to endorse to person other than the payee
C.  remain the same in all respect, it is only a practice
D.  eligible for payment irrespective of suffcient balance in the account
E.  ineligible to get cash across the bank counter
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65 .When a bank dishonors a cheque.
A.  it is called settlement of the cheque
B.  it is called withdrawing of the cheque
C.  it is called nullifying of the cheque
D.  it is called truncating of the cheque
E.  it is called return of the cheque unpaid
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66 .In a bank which of the following are the usual types of Deposits accounts?
A.  Savings accounts, Electricity accounts and Insurance Premium accounts
B.  Fixed deposits, Post offce Savings Bank accounts and Current Deposit accounts
C.  Current Accounts, Saving Bank accounts and Term Deposit accounts
D.  Loan accounts, Savings Bank accounts and Term Deposit accounts
E.  Current Bill accounts and Term Deposits accounts
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67 .Which of the following cannot be called as a value added service offered by a bank?
A.  Special accounts for poor sections of society
B.  Accident insurance cover
C.  Instant credit of outstation cheques
D.  Free cheque books
E.  All of these
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68 .An account in which trading of shares in their electronic form is done, is known as
A.  D-mat account
B.  NRI account
C.  NRIO account
D.  Current account
E.  None of these
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69 .A Savings Bank Account opened with a commercial bank with zero balance or very minimal balance is known as
A.  Savings Bank Ordinary account
B.  Student Savings Bank account
C.  No-Frill account
D.  Current account
E.  Call deposit
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70 .Travellers cheque is
A.  a supplementary credit card
B.  a cheque issued by a bank or fnance institution which functions as capital
C.  a certifcate issued by a bank or fnance institution in lieu of cash
D.  a cheque issued by a bank or fnance institution which functions as a bond
E.  a prepaid instrument issued by a bank or fnance institution which can be substitute of cash
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71 .For availment of refnance from NationalHousing Bank, scheduled commercialbank has to satisfy which of the followingconditions?
A.  The capital adequacy ratio of the banksshould be as per the norms prescribedby the Reserve Bank of India
B.  The net non-performing assets to thenet advances of the bank should notexceed 10%
C.  The scheduled commercial bank hasearned proft for the last 2 years
D.  All of the above
E.  None of the above
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72 .A current account in a bank means
A.  in which balances are kept high
B.  interest is not paid on the balance in the account
C.  in which transactions should take place daily
D.  availing credit facilities
E.  None of these
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73 .Which of the following methods is being adopted by Banks for calculating and applying interest on Savings Bank accounts?
A.  On monthly products based on minimum balance between 10th and last working day.
B.  Daily balance is counted and interest is paid accordingly
C.  On average quarterly balance.
D.  On average half yearly balance.
E.  None of the above.
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74 .The main function of IMF is to
A.  give fnancial investment loans to devoloping countries
B.  act as a private sector lending arm of the World Bank
C.  help of solve balance of payment problems of member countries
D.  arrange international deposits from banks
E.  None of the above
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75 .How many banks are there in public sector at present ?
A.  28
B.  27
C.  19
D.  20
E.  None of these
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