Dear readers,

The quiz on banking awarness, provided here, will help you prepare for the upcoming exams. Please try to give answers in the comment box; soon we will publish the correct answers.

1. Which of the following represent correct
meaning of ‘REPO RATE’?

(1) Rate on
which RBI sells Government Securities to Banks

(2) Rate for
borrowing rupees by banks from RBI

(3) Rate
offered by banks to their prime customers

(4) Rate
applicable for grant of priority sector loans

(5) None of
these

2. Expand the term ALM as used in
Banking/Finance sector?

(1) Asset
Liability Management

(2) Asset
Liability Maturity

(3) Asset
Liability Mismatch

(4) Asset
Liability Manpower

(5) Asset
Liability Maintenance

3. Which of the following is correct statement?

(1) Normally
no interest is paid on current deposit accounts.

(2) Interest
is paid on current accounts at the same rate as term deposit accounts.

(3) The rate
of interest on current account and savings account are the same.

(4) No
interest is paid on any deposit by the bank.

(5) Savings
deposits are the same as current deposits.

4. Which of the following statement/s is/are
correct?

(A) KYC norms is applicable only to deposit
accounts

(B) Either or Survivor is applicable to all
joint accounts

(C) A cash credit facility is a fund based
limit

(D) An incomplete negotiable instrument is
called as an inchoate statement

(1) A & B        (2) B & C          (3) C & D 

(4) Only D    (5) None of these

5. If your bank receives cheque in inward
clearing which has not signed by the account holder? Which one of the following
reasons you will select to return the cheque.?

(1) Cheque is not signed by the payee

(2) Refer to the drawer

(3) Cheque is not signed by the drawee

(4) Cheque is not signed by the endorsee

(5) None of these

6. Ram has been nominated in the Savings account
of Sita. Ram requests the bank authorities to allow him to operate Sita’s
account as she is unwell. What will the bank do?

(1) Bank
will allow Rain to operate the account as he is the nominee.

(2) As
nomination will come into effect only after death of depositor, Bank will not
allow.

(3) As Ram
is husband of Sita in addition to being the nominee, the Bank should allow.

(4) Out of
pity for Sita and on account of long term relationship, the Bank may allow.

(5) Bank can
take a promissory note from Ram and allow him to operate the account

7. Who among the following was appointed as the
Chairman of the Empowered Committee of State Finance Ministers on the Goods and
Services Tax (GST)?

(1) Anurag Jain

(2) K.M. Mani

(3) Abdul Rahim

(4) Arun Jaitely

(5) K Sudarshan

8. Recently, the Reserve Bank of India (RBI) has
relaxed provisioning rules against bad loans by allowing banks to set aside up
to 50% of floating provisions. What was the present rule for the same?

(1) Till
now RBI allowed up to 40% of floating provisions against bad loans

(2) ) Till
now RBI allowed up to 45% of floating provisions against bad loans

(3) Till
now RBI allowed up to 33% of floating provisions against bad loans

(4) Till now RBI
allowed up to 38% of floating provisions against bad loans

9. Which state-owned bank of Britain has decided
to close its banking operations in India as disclosed recently?

(1) HSBC

(2) Standard Chartered

(3) Royal Bank of Scotland

(4) Barclays

(5) None of these

10. Recently, International rating agency Moody’s
downgraded the ratings of some securities of which two public-sector banks?

(1) Central
Bank of India and Indian Overseas Bank

(2) United Bank of
India and Dena Bank

(3) Vijaya Bank and
Syndicate Bank

(4) Indian Overseas
Bank and Allahabad Bank

(5) Central Bank of
India and UCO Bank

Answers:

1 (2)

2 (1)

3 (1)

4 (3)

5 (2)

6 (2)

7 (2)

8 (3)

9 (3)

10 (1)