General and Banking Awareness Quiz Set - 10 Questions and Answers

1.

Which of the following terms is used in the field of finance and banking?

   A.) Metabolism
   B.) Pulse rate
   C.) Genetic process
   D.) Debt instruments

Answer: Option 'D'

Debt instruments

2.

The term ASBA (Applications Supported by Blocked Amount) is used in which of the following financial services?

   A.) General insurance
   B.) Capital market
   C.) Micro-finance
   D.) Life insurance

Answer: Option 'B'

Capital market

3.

Work related to which of the following has been included in the ambit of MGNREGA?

   A.) Animal husbandry
   B.) Poultry
   C.) Drinking water and sanitation
   D.) All of these

Answer: Option 'D'

All of these

4.

Which of the following would fall under the category of retail banking?

   A.) Vehicle loans
   B.) Home loans
   C.) Credit cards
   D.) All of the above

Answer: Option 'D'

All of the above

5.

For lending to the priority sector, the RBI has demand all regional rural bank (RRBs) to increase the limit for home loans form Rs. 5 lakh to

   A.) Rs. 10 lakh
   B.) Rs. 15 lakh
   C.) Rs. 20 lakh
   D.) Rs. 12 lakh

Answer: Option 'A'

Rs. 10 lakh

6.

As per financial inclusion drive, one of the following banks introduced tiny cards with biometric identification. The bank is

   A.) Central Bank of India
   B.) Oriental Bank of Commerce 
   C.) State of India
   D.) Indian Bank

Answer: Option 'C'

State of India

7.

When a bank provides loan for purchase of white goods, it is categorised as

   A.) Consumption Loan
   B.) White goods Loan
   C.) Consumer Durable Loan
   D.) Working Capital

Answer: Option 'C'

Consumer Durable Loan

8.

Which of the following is the name of an organization (autonomous) for rural technology?

   A.) CAPART
   B.) MGNREGA
   C.) SABLA
   D.) PURA

Answer: Option 'A'

CAPART

9.

Which of the following is not a negotiable instrument?

   A.) Cheque
   B.) Bill of Exchange
   C.) Fixed Deposit Receipt
   D.) Promissory Note

Answer: Option 'C'

Fixed Deposit Receipt

10.

What is the maximum balance amount that is eligible for earning interest in a normal Saving Bank Account?

   A.) Rs. 1 Lakh
   B.) Rs. 2 Lakh
   C.) Rs. 3 Lakh
   D.) There is no such limit defined

Answer: Option 'D'

There is no such limit defined

11.

Interest on Savings Bank Account is now calculated by banks on

   A.) average balance during the month
   B.) minimum balance during the month
   C.) minimum balance from 10th to the last day of month
   D.) daily product basis

Answer: Option 'D'

daily product basis

12.

Which of the following is not one of the objectives of Nationalization of Banks in India?

   A.) To eliminate concentration of economic power in few hands
   B.) To diversify flow of credit to agriculture and allied activities
   C.) To create government monopoly is banking sector
   D.) To extend banking facilities in unbanked areas

Answer: Option 'B'

To diversify flow of credit to agriculture and allied activities

13.

According to the guidelines of the Reserve Bank of India (RBI) the commercial banks have to furnish details of the cash deposits and withdrawal of how much money to the RBI?

   A.) Over Rs. 5 lakh
   B.) Over Rs. 10 lakh
   C.) Over Rs. 15 lakh
   D.) Over Rs. 20 lakh

Answer: Option 'B'

Over Rs. 10 lakh

14.

Consider the following statements about Cash Reserve Ratio (CRR)
1. It is the stipulated statutory deposit of the scheduled commercial bank's net total liabilities which they are required to keep with the RBI.
2. RBI is authorised to fix CRR upto 15%.
3. RBI is authorised to lower down CRR to zero per cent.
Which of the following statement is/are correct?

   A.) Only 1
   B.) 1 and 3
   C.) 1 and 2
   D.) None of these

Answer: Option 'C'

1 and 2

15.

Consider the following statements about While Label ATMs(WLAs)
1. WLAs are ATMs owned by non-banking entities.
2. The WLAs operators have to declare one sponsor bank.
3. Grievance redress is vested with card-issuing bank.
Which of the above-mentioned statements are true?

   A.) Only 3
   B.) Only 1
   C.) 1 and 2
   D.) All of the above

Answer: Option 'D'

All of the above

16.

Consider the following statements about Non-scheduled Banks of India.
1. They can have paid-up capital of less than Rs. 5 lakh
2. They are free to keep cash reserve ratio funds with themselves.
3. They are eligible for loans from RBI only in emergency situations.
Which of the statements given above is/are true?

   A.) Only 1
   B.) 1 and 3
   C.) 1 and 2
   D.) All of the these

Answer: Option 'D'

All of the these

17.

Many Regional Rural Banks are given licence to open in small cities and towns. These licences were given by

   A.) Cabinet Committee on Eco Affairs
   B.) NABARD
   C.) Reserve Bank of India
   D.) Indian Bank's Association

Answer: Option 'C'

Reserve Bank of India

18.

Banks recover term loan from the customers in EMI's. What does the letter 'E' represent in the term?

   A.) Easy
   B.) Effective
   C.) Equated
   D.) Economical

Answer: Option 'C'

Equated

19.

Which of the following committees has given its recommendations on financial inclusion?

   A.) Raghuram Ranjan Committee
   B.) Vaghul Committee
   C.) Rakesh Mohan Committee
   D.) Kelkar Committee

Answer: Option 'A'

Raghuram Ranjan Committee

20.

The agricultural census is done at which of the following intervals?

   A.) There is no fixed term
   B.) Every year
   C.) Once in five years
   D.) Once in three years

Answer: Option 'C'

Once in five years


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