Expected Banking Awareness Multiple Choice Questions for Competitive Exams

Expected Banking Awareness Multiple Choice Questions

1) What is the current daily cap limit for Mobile Banking Transaction per customer notified by the RBI ?

1. Rs. 5,000
2. Rs. 50,000
3. Rs. 1,000
4. Rs. 2,00,000
5. None of these

2) Which Act makes sample provision for the disclosure of essential information in accounts ?

1. The Companies Act
2. The Income Tax Act
3. The Contract Act
4. Negotiable Instruments Act
5. None of these

3) Which of the following is/are the components of Fiscal Deficit ?

1. Budgetary deficit
2. Market borrowings
3. Expenditure from PM relief fund
4. Market borrowings and Budgetary deficit 
5. Market borrowings and Expenditure from PM relief fund

4) India is market leader and hub of profitable outsourcing business. What are the contributory factors that have helped India to achieve this position ?

1. Skilled Manpower
2. Knowledge of English Language
3. Abundant and cheap labour
4. Hard working 
5. Skilled Manpower and Abundant and cheap labour

5) What is the major cause, which compelled adoption of Basel II norms by Banks ?

1. Risk management 
2. To adopt international standards of accounting
3. Transparency in disclosure
4. RBI forced all banks to control money supply
5. None of these

6) Which of the following card produced launched by the banks is working on the principle of "Buy Now Pay Later" ?

1. ATM Card
2. Debit Card
3. Charge Card
4. Credit Card
5. Member Card

7) Which of the following is the most essential financial service which should be provided to the poor people to bring them in the network of financial inclusion ?

1. Insurance for life
2. Investment plan for future
3. Pension for old age
4. A bank account where he/she can save small amount
5. Health insurance for minor illness and hospitalization in case of need

8) What does the letter F denote in "NBFCs" (Non Banking ................Company), a term seen very frequently in Banking world these days?

1. Formal
2. Fiscal
3. Federal
4. Functional
5. Financial

9) Standard and poor's is Credit Rating Agency of international repute. Which of the following is one such agency of Indian origin ?

1. IBA
2. BASEL
3. SEBI
4. IRDA
5. CRISIL

10) Coin of which of the following denominations is called Small Coin ?

1. Rs. 1/-
2. Rs. 2/-
3. Rs. 5/-
4. Rs. 50 paisa
5. Rs. 10/-

11) Which of the following services/products of banks is specially designed and launched to help students ?

1. Personal loan
2. Corporate loan
3. Business loan
4. Medical loan
5. Education loan

12) Which of the following terms is NOT directly associated with the functioning of RBI ?

1. Open Market Operations
2. Cash Reserve Ratio
3. SENSEX
4. Liquidity Adjustment Facility
5. Public Debit Office

13) Which of the following is one of the major activities of the National Bank for Agriculture and Rural Development (NABARD) ?

1. On-site inspection of Cooperative Banks and Regional Rural Banks(RRBs)
2. Helping Govt. of India in preparing Union Budget and presenting it in the Cabinet Meeting
3. Acting as custodian of the foreign exchange reserves of the country
4. Deciding rate of interest on Saving Bank Accounts in Public Sector Banks
5. Representing India in World Bank and other such agencies

14) Which of the following is the abbreviated name of the body/agency set up to boost foreign investments in India ?

1. FOREX
2. FCCB
3. FIPB
4. FEMA
5. AITAF

15) Performance of which of the following is NOT considered infrastructural sector of economy ?

1. Electricity
2. Textile Sector
3. Telecom
4. Cement
5. Road and Railways

Check Below Links for More Practice Papers:

• Practice Paper Set 1
• Practice Paper Set 2
• Practice Paper Set 3
• Practice Paper Set 4
• Practice Paper Set 5
• Practice Paper Set 6