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Banking Awareness Quiz 3 – Practi...

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Banking Awareness Quiz 3 – Practice Sets

shape Introduction

Banking Awareness is an important section in the employment related competitive exams in India. In particular, exams like IBPS, SBI and other bank related employment exams have banking awareness questions along with general awareness section. The Banking Awareness section primarily has questions related to the History of Banking, Banking Terms, Banking Products, Functions of Banks, Banks and their Taglines, Schemes, Committees related to Banking, Headquarters of Banks, most recent Banking News, Apps launched by Banks, New Schemes, Monetary Policies etc.


Banking Awareness Quiz 3 – Practice Sets article provides the list of several bank related questions to prepare aspirants of different competitive exams in India, primarily for banking related employment. The article Banking Awareness Quiz 3 – Practice Sets is very useful for different exams such as IBPS PO, Clerk, SSC CGL, SBI PO, NIACL Assistant, NICL AO, IBPS RRB, Railways, Civil Services etc.


shape Quiz

Q1. GSTN stands for which of the following?

    A. Goods Ans Sales Tax Network
    B. Goods And Service Tax Network
    C. Good And Simple Tax Network
    D. Good And Systematic Tax Network
    E. None of these


Answer: Option B

Q2. Which of the payment Services is available 24*7?

    A. NEFT
    B. IMPS
    C. RTGS
    D. UPI
    E. None of these


Answer: Option A

Q3. QSAM stands for which of the following?

    A. Quick Service On Adhaar Mapper
    B. Quick Systematic On Adhaar Mapper
    C. Query Service On Adhaar Mapper
    D. Queued Service On Adhaar Mapper
    E. None of these


Answer: Option C

Q4. How much GST is charged on the Purchase of fresh vegetables?

    A. 1%
    B. 2%
    C. 0%
    D. 3%
    E. 5%


Answer: Option C

Q5. Which section of Negotiable Instruments Act, 1881 deals with the Cheque ?

    A. Section 4
    B. Section 5
    C. Section 6
    D. Section 10
    E. Section 12


Answer: Option C

Q6. Who governs the purchases of securities ?

    A. Transaction Tax
    B. Securities Tax
    C. Purchase Tax
    D. Securities Transaction Tax
    E. None of these


Answer: Option D

Q7. Which section of Negotiable Instruments Act 1881 deals with the Bill of Exchange?

    A. Section 1
    B. Section 3
    C. Section 7
    D. Section 12
    E. Section 5


Answer: Option E

Q8. IFSC stands for which of the following?

    A. International Financial System Code
    B. Indian Financial System Code
    C. Integrated Financial System Code
    D. Innovative Financial System Code
    E. None of these


Answer: Option C

Q9. How much GST will be applicable for the purchase of Gold?

    A. 5%
    B. 3%
    C. 2%
    D. 4%
    E. 0%


Answer: Option B

Q10. GSTN creates a platform for which of the following?

    A. Stake Holders
    B. Government
    C. Tax Payers
    D. Only A and B
    E. All of these


Answer: Option E

Q1. Indian Bank was established in which year?

    A. 1906
    B. 1907
    C. 1908
    D. 1909
    E. 1910


Answer: Option B

Q2. Punjab National Bank was first established in which city?

    A. Amritsar
    B. Jalandhar
    C. Lahore
    D. Ludhiana
    E. Sialkot


Answer: Option C

Q3. Who is the Economic Relations Secretary in the Ministry of External Affairs of India?

    A. Amar Sinha
    B. Amit Goyel
    C. Kaushik Misra
    D. Vijay Gokhale
    E. Ashis Kohli


Answer: Option D

Q4. SEBI has imposed a fine of Rs. 27 lakh to which company for violating norms related to public holding and disclosures?

    A. Disha Microfin Pvt Ltd
    B. Sungold Capital
    C. BSS Microfinance Pvt Ltd
    D. Zodius Capital
    E. None of these


Answer: Option B

Q5. Which country implemented GST for

    A. Canada
    B. Argentina
    C. India
    D. France
    E. Spain

Answer: Option D

Q6. What is the current GST rate on fertilizer declared by the GST Council?

    A. 12%
    B. 6%
    C. 8%
    D. 9%
    E. 5%


Answer: Option E

Q7. In which year RBI was nationalized?

    A. 1947
    B. 1948
    C. 1949
    D. 1950
    E. 1951


Answer: Option D

Q8. In which year the ‘National Housing Bank’ was set up?

    A. 1989
    B. 1990
    C. 1987
    D. 1983
    E. 1988


Answer: Option E

Q9. How many associate Banks do SBI has?

    A. 6
    B. 4
    C. 5
    D. 3
    E. 7


Answer: Option C

Q10. DICGC stands for which of the following?

    A. Deposit Insurance and Credit Guarantee Corporation
    B. Debit Issue and Credit Guarantee Corporation
    C. Deposit Insurance and Consumer Guarantee Corporation
    D. Debit Issue and Credit Grant Corporation
    E. None of these


Answer: Option A

Q1. Bharatiya Reserve Bank Note Mudran Private Limited was set up in which year?

    A. 1996
    B. 1997
    C. 1995
    D. 1998
    E. 1999


Answer: Option C

Q2. ‘You can bank always on us’ is the tagline of which bank?

    A. State bank of Hyderabad
    B. State bank of Mysore
    C. State bank of India
    D. State bank of Bikaner and Jaipur
    E. None of these


Answer: Option A

Q3. BRBNMPL stands for which of the following?

    A. Bengal Reserve Bank Note Mudran Private Limited
    B. Bahujan Reserve Bank Note Mudran Private Limited
    C. Bharatiya Reserve Bank Note Mudran Public Limited
    D. Bharatiya Reserve Bank Note Mudran Private Limited
    E. None of these


Answer: Option D

Q4. Head office of State bank of Mysore is located in which city?

    A. Mysuru
    B. Mangalore
    C. Bengaluru
    D. Hubli
    E. None of these


Answer: Option C

Q5. Which is the oldest joint stock bank of India functioning till today?

    A. Bank of India
    B. State Bank of India
    C. Dena Bank
    D. Allahabad Bank
    E. None of these


Answer: Option D

Q6. ‘A Friend You Can Bank Upon’ is the tagline of which bank?

    A. Dena Bank
    B. Vijaya Bank
    C. Punjab National Bank
    D. Union Bank
    E. None of these


Answer: Option B

Q7. UTI stands for which of the following?

    A. Union Trust of India
    B. Uniform Trust of India
    C. Unit Trust of India
    D. United Trust of India
    E. None of these


Answer: Option C

Q8. In which year SIDBI was established?

    A. 1989
    B. 1991
    C. 1992
    D. 1990
    E. 1988


Answer: Option D

Q9. IFCI stands for which of the following?

    A. Independent Finance Corporation of India
    B. Industrial Finance Corporation of India
    C. Institutional Finance Corporation of India
    D. Intermediate Finance Corporation of India
    E. None of these


Answer: Option B

Q10. UTI was established in which year?

    A. 1964
    B. 1965
    C. 1966
    D. 1960
    E. None of these

Answer: Option A

Q1. In which kind of banking, the bank invests money mostly in government bonds and securities?

    A. Para Banking
    B. Narrow Banking
    C. Green Banking
    D. Retail Banking
    E. None of these


Answer: Option B

Q2. What is the main motto of Green Banking?

    A. Foreign Currency Exchangeable Bond
    B. Foreign Currency External Bond
    C. Foreign Currency Export Bond
    D. Foreign Currency Exchange Bond
    E. None of these


Answer: Option C

Q3. EXIM Bank was established in which year?

    A. It gives Agricultural Loans
    B. It provides study loan to the students of Agriculture
    C. It promotes deployment of clean energy technologies
    D. It provides financial assistance for plantation purpose
    E. None of these


Answer: Option E

Q4. Which bank has launched the ‘Image Debit Card’?

    A. Canara Bank
    B. Indian Bank
    C. Karnataka Bank
    D. Dena Bank
    E. None of these


Answer: Option C

Q5. GIC was established in which year?

    A. 1971
    B. 1972
    C. 1973
    D. 1974
    E. 1978


Answer: Option B

Q6. Which of the following banks has recently become Payments Bank?

    A. Suryoday
    B. Janalakshmi
    C. FINO
    D. Capital LAB
    E. None of these


Answer: Option C

Q7. What is the minimum number of banks that should be involved in Chain Banking?

    A. 4
    B. 5
    C. 7
    D. 2
    E. 3


Answer: Option E

Q8. Which bank recently has decided to block all Maestro Debit Cards for security based reasons?

    A. Punjab And Sindh Bank
    B. Punjab National Bank
    C. Union Bank
    D. Dena Bank
    E. None of these

    Answer: Option B

    Q9. RTGS stands for which of the following?

      A. Retail Time Gross Settlement
      B. Real Time Gross Settlement
      C. Reverse Time Gross Settlement
      D. Realization Time Gross Settlement
      E. None of these


    Answer: Option D

    Q10. PNB was established in which year?

      A. 1899
      B. 1897
      C. 1894
      D. 1890
      E. None of these


    Answer: Option C

Q1. Which Bank has signed a load agreement with India for improving road
connectivity?

    A. World Bank
    B. HSBC
    C. Asian Development Bank
    D. Standard Chartered Bank
    E. None of these


Answer: Option C

Q2. Who is appointed as the New CEO of Syndicate Bank?

    A. Urjit Patel
    B. Sartaj Desai
    C. Arundhuti Basu
    D. Melwyn Rego
    E. None of them


Answer: Option B

Q3. In which year Syndicate Bank was established?

    A. 1926
    B. 1925
    C. 1927
    D. 1923
    E. None of these


Answer: Option B

Q4. ‘Good people to grow with’ is a tagline of which of the following banks?

    A. Syndicate Bank
    B. Punjab National Bank
    C. Indian Overseas Bank
    D. State Bank of India
    E. None of these


Answer: Option C

Q5. In which city the head office of Indian Overseas Bank is situated?

    A. Mumbai
    B. New Delhi
    C. Pune
    D. Kolkata
    E. Chennai


Answer: Option E

Q6. Which of the following is the Core Banking Solution of Reserve Bank of India?

    A. e-kuber
    B. e-cbs
    C. e-auction
    D. e-investment
    E. None of these


Answer: Option A

Q7. Which of the following is the Apex Organization for Industrial Finance in India?

    A. Industrial Credit And Finance Corporation of India
    B. Industrial Development Bank of India
    C. Industrial Finance Corporation
    D. RBI
    E. None of these


Answer: Option B

Q8. What is known as a Banker’s Cheque?

    A. Credit Card
    B. Demand Draft
    C. Debit Card
    D. Banker’s Draft
    E. Pay Order


Answer: Option D

Q9. Auction of Govt. securities is done through which of the following system?

    A. NPCI
    B. BHIM
    C. UPI
    D. e-Kuber
    E. None of these


Answer: Option D

Q10. What is the main purpose to form the RRBs?

    A. To keep lending rate lower for the farmers than the co-operative institutions
    B. To work on innovative ideas
    C. To help the targeted group
    D. To work on the principles of commercial Banks
    E. None of these


Answer: Option C

Q1. Which of the following companies is the technology partner of RBI for launching e-Kuber?

    A. Infosys
    B. CTS
    C. TCS
    D. IBM
    E. Polaris


Answer: Option E

Q2. Which of the following can be called as an inter-bank application?

    A. Transactions of Government
    B. Automatic Clearing House
    C. Delivery Vs Payment
    D. RTGS
    E. All of these


Answer: Option C

Q3. At which place the Bankers meet and settle their Mutual accounts and claims?

    A. Collecting Center
    B. Treasury
    C. Dumping Ground
    D. Clearing House
    E. None of these


Answer: Option E

Q4. GST settlements are proposed to be done through which of the following applications?

    A. UPI
    B. e-Kuber
    C. NPCI
    D. BHIM
    E. None of these


Answer: Option B

Q5. Who is the CEO of HSBC Bank?

    A. Maria Grey
    B. Robert Smith
    C. Stuart Gulliver
    D. William Smith
    E. None of them


Answer: Option C

Q6. What is the concessional rate of GST imposed by the Govt, on the helpful devices for the physically challenged people?

    A. 3%
    B. 2%
    C. 5%
    D. 4%
    E. 7%


Answer: Option C

Q7. What is the raised limit of Foreign Portfolio Investors(FPI) investment in Govt. Securities by the RBI?

    A. 2.3%
    B. 4.7%
    C. 3.5%
    D. 6.1%
    E. None of these


Answer: Option B

Q8. AIIB stands for which of the following?

    A. Asia India Development Bank
    B. Asia Inter Development Bank
    C. Authorized Infrastructure Development Bank
    D. Asia Infrastructure Development Bank
    E. None of these


Answer: Option D

Q9. In which country the Head Quarters of Asian Development Bank is situated?

    A. China
    B. Philippines
    C. India
    D. Sri Lanka
    E. Japan


Answer: Option B

Q10. On which day of 2017, the Save Public Sector Banks Day (SPSBD) is celebrated in India?

    A. 9th July
    B. 6th July
    C. 7th July
    D. 19th July
    E. 20th July


Answer: Option D

Q1. UFBU stands for which of the following?

    A. Universal Fraternity of Bank Unions
    B. United Foundation of Bank Forums
    C. United Forum of Bank Unions
    D. Universal Forum of Bank Unions
    E. None of these


Answer: Option C

Q2. Which of the following funds are dealt by the Capital Market of Indian Financial System?

    A. Long-term Funds
    B. Short-term Funds
    C. Hedge Funds
    D. Government Funds
    E. None of these


Answer: Option A

Q3. MBS stands for which of the following?

    A. Money-Backed Security
    B. Mortgage-backed Security
    C. Material-Backed Security
    D. Manual-Backed Security
    E. None of these


Answer: Option B

Q4. Who is the Principle Regulator of Indian Capital Market?

    A. SIDBI
    B. IRDA
    C. SEBI
    D. RBI
    E. None of these


Answer: Option C

Q5. ARM stands for which of the following?

    A. Assured Rate Mortgage
    B. Adjusted Rate Mortgage
    C. Additional Rate Mortgage
    D. Advanced Rate Mortgage
    E. None of these


Answer: Option C

Q6. ‘Where service is a way of life’ is the tagline of which bank?

    A. Royal Commission
    B. Dantwala Committee
    C. D R Mehta Commission
    D. Hilton Young Commission
    E. Simon Commission


Answer: Option D

Q7. ‘Where service is a way of life’ is the tagline of which bank?

    A. Dena Bank
    B. Vijaya Bank
    C. Punjab and Sind Bank
    D. Uco Bank
    E. None of these


Answer: Option C

Q8. Who is the CEO of UCO Bank?

    A. Urjit Patel
    B. Ravi Krishan Takkar
    C. Arun Tiwari
    D. Vinod Kathuria
    E. None of them


Answer: Option B

Q9. What is used by the monetary authorities to control the inflation?

    A. MCLR
    B. Reverse Repo Rate
    C. Repo Rate
    D. Base Rate
    E. None of these


Answer: Option C

Q10. The head Quarter of Punjab National Bank is situated in which city?

    A. New Delhi
    B. Chandigarh
    C. Kolkata
    D. Gurugram
    E. Ludhiyana


Answer: Option A

Q1. Indus OS has partnered with which bank to launch OS-integrated Unified Payment Interface payment platform in India?

    A. HSBC
    B. Axis Bank
    C. ICICI Bank
    D. Yes Bank
    E. Bandhan Bank


Answer: Option D

Q2. Which of the following banks does not sign agreement with EPFO regarding Provident fund related issues?

    A. Bank of Baroda
    B. ICICI Bank
    C. HDFC Bank
    D. Axis Bank
    E. Bank of India


Answer: Option E

Q3. Which bank has signed MoU with Santander to promote India-UK trade?

    A. HDFC Bank
    B. Kotak Mahindra Bank
    C. Yes Bank
    D. Axis Bank
    E. None of these


Answer: Option C

Q4. EPFO stands for which of the following?

    A. Employees’ Provident Fund Organisation
    B. Employer’s Provident Fund Organisation
    C. Employer’s Permanent Fund Organisation
    D. Emergency Payment Fund Organisation
    E. None of these


Answer: Option A

Q5. Which bank ties up with PFG Forex for remittance facility for the benefit of Indian
Expatriates in Australia?

    A. Andhra Bank
    B. South Indian Bank
    C. Vijaya Bank
    D. Dena Bank
    E. None of these


Answer: Option B

Q6. As per the instruction of RBI, in case of any unauthorized online banking transaction, within how many days customers must report?

    A. 4days
    B. 7days
    C. 5days
    D. 3days
    E. 10days


Answer: Option B

Q7. Who is appointed as the Non-executive Chairman of Union Bank of India?

    A. Urjit Patel
    B. Rahul Prasad
    C. Kewal Handa
    D. Nitin Chowla
    E. None of them


Answer: Option C

Q8. Which Indian Finance Company has signed MoU with the Govt owned Vnesheconom Bank of Russia?

    A. TATA Capital
    B. Srei Infrastructure Finance
    C. HGI Finance
    D. HSBC Invest Direct (India) Ltd.
    E. None of these


Answer: Option B

Q9. Swiss Bank will share information automatically of financial account information with which of the following countries from 2019?

    A. Pakistan
    B. India
    C. Sri Lanka
    D. Both Band C
    E. Both A and B


Answer: Option E

Q10. Which of the following pairs of PSU banks was merged?

    A. Allahabad Bank and United Bank of India
    B. Bank of India and New Bank of India
    C. Punjab National Bank and Bank of Rajasthan
    D. Punjab National Bank and New Bank of India
    E. None of these


Answer: Option D

Q1. SLR stands for which of the following?

    A. Standard Liquidity Ratio
    B. Statutory Liquidity Ratio
    C. Stable Liquidity Ratio
    D. Substitute Liquidity Ratio
    E. None of these


Answer: Option B

Q2. What is the maximum limit of SLR?

    A. 45%
    B. 35%
    C. 40%
    D. 50%
    E. 30%


Answer: Option C

Q3. Increase in which of the following can increase the cost of borrowing and lending
of the banks?

    A. Base Rate
    B. Reverse Repo Rate
    C. MCLR
    D. Repo Rate
    E. None of these


Answer: Option D

Q4. ‘Much more to do with You in focus’ is the tagline of which bank?

    A. Bank of Maharashtra
    B. Andhra Bank
    C. Dena Bank
    D. Vijaya Bank
    E. None of these


Answer: Option B

Q5. In which year Bank of Maharashtra was established?

    A. 1938
    B. 1936
    C. 1932
    D. 1937
    E. 1935


Answer: Option E

Q6. According to RBI, what should be assets size of the NBFCs to offer New Pension Scheme?

    A. 450 Cr and Above
    B. 500 Cr and Above
    C. 300 Cr and Above
    D. 400 Cr and Above
    E. None of these


Answer: Option B

Q7. Which of the following countries voluntarily contribute first to the UN Tax Fund to help the developing countries?

    A. To verify accurate tax rate on commodity and services under GST
    B. To benefit tax payers
    C. To let every one know how much GST is charged on a particular good and service
    D. To find the GST rate while offline
    E. All of these


Answer: Option E

Q8. Canara HSBC Oriental Bank of Commerce Life Insurance has entered into an alliance with which bank for marketing various life insurance products?

    A. ICICI Bank
    B. Axis Bank
    C. Dhanalaxmi Bank
    D. South Indian Bank
    E. None of these


Answer: Option C

Q9. Which of the following banks has launched a digital village initiative in Nepal?

    A. Dena Bank
    B. Punjab National Bank
    C. Vijaya Bank
    D. State Bank of India
    E. None of these


Answer: Option D

Q10. What will be the recent growth rate over the coming decade according to the Harvard University research?

    A. 6.7%
    B. 7.7%
    C. 4.5%
    D. 8.2%
    E. None of these


Answer: Option B

Q1. With which bank Shriram Group Insurance companies has made an
agreement to explore the merger possibility?

    A. HSBC Bank
    B. Axis Bank
    C. IDFC Bank
    D. ICICI Bank
    E. None of these


Answer: Option C

Q2. FCNR stands for which of the following?

    A. Foreign Currency Non-Repatriable
    B. Foreign Currency Net-Repatriable
    C. Foreign Currency Natural Repatriable
    D. FreezeCurrency Non-Repatriable
    E. None of these


Answer: Option A

Q3. What is the function of Mixed Banking?

    A. It performs all kind of functions assignd to the bank
    B. It undertakes the activities of commercial and investment banking together
    C. It provides easy access to the complete financial portfolkio of clients
    D. All of these
    E. None of these


Answer: Option B

Q4. ‘Experience Next Generation Banking’ is the tagline of which of the following banks?

    A. Andhra Bank
    B. UCO Bank
    C. South Indian Bank
    D. Vijaya Bank
    E. Axis Bank


Answer: Option C

Q5. In which city the head office of South Indian Bank is situated?

    A. Kochi
    B. Chennai
    C. Thrissur City
    D. Bengaluru
    E. None of these


Answer: Option C

Q6. In which year Andhra Bank was founded?

    A. 1923
    B. 1924
    C. 1925
    D. 1926
    E. 1927


Answer: Option A

Q7. Which of the following unit of money has the equal intrinsic and face value?

    A. Flat Money
    B. Full Bodied Money
    C. Paper Money
    D. Optional Money
    E. None of these


Answer: Option B

Q8. Which money has less production cost than its face value?

    A. Paper Money
    B. Commodity Money
    C. Flat Money
    D. Optional Money
    E. Token Money


Answer: Option E

Q9. NHB stands for which of the following?

    A. Nominal Housing Bank
    B. Non-profit Housing Bank
    C. Nationalized Housing Bank
    D. National Housing Bank
    E. None of these


Answer: Option D

Q10. NHB is a subsidiary of which of the following banks?

    A. SBI
    B. SEBI
    C. NABARD
    D. GOI
    E. RBI


Answer: Option E