Banking Awareness Exam Quiz: Trivia!

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  • 1/20 Questions

    Ghulam Nabi Azad Union Minister of _________laid the foundation stone of the new building complex of National Center for Disease Control in New Delhi.

    • Agriculture
    • Culture
    • Health & Family Welfare
    • Finance
    • Tourism
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About This Quiz


Do you know anything about banking awareness? Banking awareness is a component of the general awareness section in bank exams. The questions pertain to the history of banks in India, banking institutions, banking terminologies, and the tasks and role of the banking industry in the country's financial system. The central bank exams include IBPS, SBI, and RBI. This quiz can be useful to you if you are studying bank awareness.

Banking Awareness Exam Quiz: Trivia! - Quiz

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  • 2. 

    The Customers by Opening and investing in the Tax Saver Deposit Account Scheme in a Bank would get benefit under_________

    • Sales Tax

    • Excise Duty

    • Income Tax

    • Customs Duty

    • Professional Tax

    Correct Answer
    A. Income Tax
    Explanation
    Customers who open and invest in the Tax Saver Deposit Account Scheme in a bank would receive benefits under Income Tax. This means that the money deposited in this account can be deducted from the total taxable income, resulting in a lower tax liability for the customer. This scheme encourages individuals to save and invest while also providing them with a tax-saving advantage.

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  • 3. 

    Banking Ombudsman is appointed by ____________

    • Govt. of India

    • State Govt.

    • RBI

    • ECGC

    • EXIM Bank

    Correct Answer
    A. RBI
    Explanation
    The correct answer is RBI. The Banking Ombudsman is appointed by the Reserve Bank of India (RBI). The RBI is responsible for the regulation and supervision of the banking sector in India, and it appoints the Banking Ombudsman to resolve customer complaints and grievances against banks. The Banking Ombudsman acts as an independent authority and helps in the resolution of disputes between banks and their customers, ensuring fair and efficient banking services.

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  • 4. 

    A Non-Profit Assets (NPA) is___________

    • An Assets that ceases to generate income

    • Money at call and short notice

    • Cash balance in till

    • Cash balance with RBI

    • Balance with other Banks

    Correct Answer
    A. An Assets that ceases to generate income
    Explanation
    A non-profit asset refers to an asset that no longer generates income. This means that the asset is no longer able to produce any financial returns or benefits for the organization or individual who owns it. This could be due to various reasons such as the asset becoming obsolete, damaged, or no longer in use. In such cases, the asset becomes non-profitable and is considered as a non-profit asset.

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  • 5. 

    Banks in India are required to maintain a portion of their demand and time liabilities with the RBI, This Portion is Called_____

    • Statutory Liquidity Ratio

    • Cash Reserve Ratio

    • Bank Deposit

    • Reverse Repo

    • Government Securities

    Correct Answer
    A. Cash Reserve Ratio
    Explanation
    Banks in India are required to maintain a portion of their demand and time liabilities with the RBI. This portion is known as the Cash Reserve Ratio (CRR). CRR is a monetary policy tool used by the central bank to control the money supply in the economy. By mandating banks to keep a certain percentage of their deposits with the RBI, it restricts the amount of money available for lending and helps in managing inflation. Therefore, the correct answer is Cash Reserve Ratio.

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  • 6. 

    Pre-Shipment finance is provided by the banks only to______________

    • Credit Card Holders

    • Village Artisans

    • Exporters

    • Brokers in equity Market

    • Student willing to studies abroad

    Correct Answer
    A. Exporters
    Explanation
    Pre-shipment finance is a type of financing provided by banks specifically to exporters. This type of finance helps exporters cover their expenses before the shipment of goods, such as purchasing raw materials, manufacturing, packaging, and transportation costs. It ensures that exporters have the necessary funds to fulfill their export orders and meet their business obligations. Therefore, the correct answer is exporters.

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  • 7. 

    Interest on Saving deposit now a days is _____________

    • Fixed by RBI

    • Fixed by the Respective Banks

    • Fixed by the Depositor

    • Not paid by the Bank

    • Fixed as a contract between bank and customers

    Correct Answer
    A. Fixed by the Respective Banks
    Explanation
    The correct answer is "Fixed by the Respective Banks." The interest on saving deposits is determined and fixed by the individual banks. Each bank sets its own interest rate for saving deposits based on various factors such as market conditions, competition, and their own internal policies. The Reserve Bank of India (RBI) does not set a specific interest rate for saving deposits, but it does provide guidelines and regulations for banks to follow. Therefore, the interest rate on saving deposits can vary from bank to bank.

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  • 8. 

    Which of the following Organizations is made specifically responsible for empowering Micro Small and Medium Enterprises in India____________

    • RBI

    • NABARD

    • SEBI

    • SIDBI

    • ECGC

    Correct Answer
    A. SIDBI
    Explanation
    SIDBI, or Small Industries Development Bank of India, is the correct answer. SIDBI is a financial institution that is specifically responsible for empowering Micro Small and Medium Enterprises (MSMEs) in India. It provides financial assistance, credit facilities, and other support services to MSMEs to help them grow and thrive. SIDBI plays a crucial role in promoting entrepreneurship and fostering the development of MSMEs, which are vital for the Indian economy.

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  • 9. 

    Interest below which a bank is not expected to lend to customers is known as__________

    • Deposit Rate

    • Bank Rate

    • Base Rate

    • Discount Rate

    • Prime Lending Rate (PLR)

    Correct Answer
    A. Base Rate
    Explanation
    The base rate is the minimum interest rate below which a bank is not expected to lend to customers. It serves as a benchmark rate for determining the lending rates offered by the bank. The base rate is set by the central bank or regulatory authority of a country and is used to ensure transparency and fairness in lending practices. Banks cannot lend to customers at a rate below the base rate, as it is considered the minimum acceptable rate for lending.

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  • 10. 

    The Holidays for the Banks are declared as per

    • RBI Act 1935

    • Banking Regulation Act 1949

    • Negotiable Instrument Act

    • SEBI Act 1982

    • Companies Act

    Correct Answer
    A. Negotiable Instrument Act
    Explanation
    The correct answer is the Negotiable Instrument Act. This act is responsible for regulating the legal aspects of negotiable instruments, such as promissory notes, bills of exchange, and cheques. It provides guidelines for the payment and collection of these instruments, including the determination of holidays for banks. Therefore, the holidays for banks are declared as per the provisions of the Negotiable Instrument Act.

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  • 11. 

    Who is the new CEO of Anglo Gold Ashanti?

    • Tito Mboweni

    • Srinivasan Venkatakrishnan

    • Rakesh Kapoor

    • Ajay Baggha

    • None of these

    Correct Answer
    A. Srinivasan Venkatakrishnan
    Explanation
    Srinivasan Venkatakrishnan is the new CEO of Anglo Gold Ashanti. This can be inferred from the given options where his name is listed as one of the choices.

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  • 12. 

    Govt. of India declared 2013 as_____Conservation Year.

    • Forest

    • Earth

    • Soil

    • Water

    • Energy

    Correct Answer
    A. Water
    Explanation
    The correct answer is "Water" because the question is asking about the year that the Government of India declared as the Conservation Year, and the correct answer is 2013. Since the question is specifically asking about the conservation of a particular resource, the answer "Water" is the most appropriate option as water conservation is a significant issue in India and around the world.

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  • 13. 

    In Banking Business, When the borrowers avail a Term Loan, initially they are given a repayment holiday and this is referred to as___________

    • Subsidy

    • Interest Waiver

    • Re-Phasing

    • Interest Concession

    • Moratorium

    Correct Answer
    A. Moratorium
    Explanation
    In banking business, when borrowers avail a term loan, they are initially given a repayment holiday, which is referred to as a moratorium. During this period, borrowers are not required to make any repayments towards the loan. This allows them some time to stabilize their financial situation or generate income before they start repaying the loan. The moratorium helps borrowers manage their cash flow and reduces the immediate financial burden of loan repayment.

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  • 14. 

    Who has been appointed as the new head of the World Trade Organisation?

    • Anwarul Hooda

    • Mohammad Alberdei

    • Pascal Lamy

    • Anil Agarwal

    • Roberto Azevedo

    Correct Answer
    A. Roberto Azevedo
    Explanation
    Roberto Azevedo has been appointed as the new head of the World Trade Organisation. This can be inferred from the given options, where Roberto Azevedo is the only name mentioned.

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  • 15. 

    Who is Mr. Daniel Bahr?

    • Minister of Health, UK

    • Minister of Health,Germany

    • Minister of Health,Frabce

    • Minister of Health,Australia

    • None of these

    Correct Answer
    A. Minister of Health,Germany
    Explanation
    Mr. Daniel Bahr is the Minister of Health in Germany.

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  • 16. 

    Vice President Hamid Ansari released a book entitled "Fida e Lucknow Tales of the city and it's people". The book is a collection of ___________short stories.

    • 32

    • 22

    • 42

    • 53

    • 72

    Correct Answer
    A. 22
    Explanation
    The correct answer is 22. The given information states that Vice President Hamid Ansari released a book entitled "Fida e Lucknow Tales of the city and its people". The book is described as a collection of short stories. Therefore, the number of short stories in the book is 22.

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  • 17. 

    RBI has released its guidelines for the entry of new banks in the private sector in the month of February 2013. One of the norms is at least a prescribed percentage of branches of the new banks should be set in unbanked rural centers with a population of up to 9,999 people. What is the percentage of such branches prescribed in the norms__________

    • 30%

    • 10%

    • 15%

    • 22%

    • 25%

    Correct Answer
    A. 25%
    Explanation
    The correct answer is 25%. According to the guidelines released by RBI in February 2013, new banks in the private sector are required to set at least a prescribed percentage of branches in unbanked rural centers with a population of up to 9,999 people. The prescribed percentage is 25%. This means that a quarter of the branches of the new banks should be located in these rural areas to ensure financial inclusion and access to banking services for the rural population.

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  • 18. 

    Bryan Forbes died on 8 May 2013 in Virginia Water, Who was he?

    • Actor

    • Screen Writer

    • Dramatist

    • Novelist

    • All of the above

    Correct Answer
    A. All of the above
    Explanation
    Bryan Forbes was a multi-talented individual who had a successful career in various fields. He was an actor, known for his performances in several films. He was also a screenwriter, having written scripts for numerous movies. In addition, Forbes was a dramatist, involved in the production of theatrical plays. He was also a novelist, having written several books. Therefore, the correct answer is "All of the above" as he was involved in all of these professions.

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  • 19. 

    Government as part of the recapitalization plan infused capital in SBI recently, indicate the approximate capital infusion.

    • 500 Cr.

    • 1000 Cr.

    • 1500 Cr.

    • 2000 Cr.

    • 3000 Cr.

    Correct Answer
    A. 3000 Cr.
    Explanation
    The correct answer is 3000 Cr. This means that the government recently infused approximately 3000 crore rupees into the State Bank of India as part of a recapitalization plan. Recapitalization refers to the process of injecting additional capital into a company or financial institution to strengthen its financial position. By infusing capital, the government aims to improve the financial health of SBI and ensure its stability.

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  • 20. 

    Pranab Mukherjee inaugurated the Deoghar Basukinath ______kilo meter Solar Street Light Project at Deoghar, Jharkhand, and laid Foundation Stones for Pilgrim Queue Complex.

    • 44

    • 52

    • 32

    • 62

    • 21

    Correct Answer
    A. 44
    Explanation
    Pranab Mukherjee inaugurated the Deoghar Basukinath 44 kilometer Solar Street Light Project at Deoghar, Jharkhand, and laid Foundation Stones for Pilgrim Queue Complex.

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  • Current Version
  • Mar 20, 2023
    Quiz Edited by
    ProProfs Editorial Team
  • Jul 05, 2013
    Quiz Created by
    Stportal
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