BANKING AWARENESS MCQs

1. For the development of the banking facilities in the rural areas the Imperial Bank of India was partially nationalised on—
(A) June 1, 1940
(B) June 1, 1942
(C) July 1, 1955
(D) July 1, 1949
Answer: July 1, 1955

2. The Imperial Bank of India was named as the—
(A) Reserve Bank of India
(B) State Bank of India
(C) Union Bank of India
(D) Bank of India
Answer: State Bank of India

3. Which is/are not an associated bank of SBI ?
(A) The State Bank of Hyderabad
(B) The Union Bank of India
(C) The State Bank of Bikaner and Jaipur
(D) The State Bank of Mysore
Answer: The Union Bank of India

4. In order to have more control over the banks, 14 large commercial banks whose reserves were more than Rs. 50 crore each were nationalized on—
(A) 19th July, 1969 
(B) 19th July, 1970
(C) 19th July, 1971 
(D) 19th July, 1972
Answer: 19th July, 1969

5. Which is not a nationalised bank ?
(A) Bank of India 
(B) Canara Bank
(C) AXIS Bank
 (D) Vijaya Bank
Answer: AXIS Bank

6. When the Government of India merged the New Bank of India with Punjab National Bank ?
(A) Sept. 4, 1993 
(B) July 1, 1990
(C) July 1, 1993 
(D) March 1, 1993
Answer: Sept. 4, 1993

7. Which is the Central Bank of India ?
(A) The Central Bank of India
(B) The State Bank of India
(C) The Reserve Bank of India
(D) The Union Bank of India
Answer: The Reserve Bank of India

8. The RBI was established in—
(A) 1935 
(B) 1940
(C) 1947 
(D) 1949
Answer: 1935

9. When RBI was set up, the Capital of the Bank was—
(A) 500 crore 
(B) 50 crore
(C) 15 crore 
(D) 5 crore
Answer: 5 crore

10. The general administration and direction of RBI is managed by a Central Board of Directors consisting of–
(A) 20 members 
(B) 15 members
(C) 5 members 
(D) 25 members
Answer: 20 members


11. RBI released Rs. 1000 currency note for circulation on—
(A) October 1, 1970 
 (B) July 1, 1980
(C) October 9, 2000 
(D) October 3, 2011
Answer: October 9, 2000

12. Which of the following instruments cannot be presented for payment in a clearing house ?
(A) Demand draft 
(B) Dividends
(C) Fixed deposit receipt 
(D) All of the above
Answer: Fixed deposit receipt

13. The Security Printing Press at Hyderabad was established in—
(A) 1982 
(B) 1983
(C) 1980 
(D) 1950
Answer: 1982

14. ‘‘Swabhiman’’ Scheme is related—
(A) Rich Customers of the Bank
(B) RRBs
(C) To provide basic banking services to bankless villages
(D) None of the above
Answer: To provide basic banking services to bankless villages

15. When RBI has decided to circulate ‘Plastic Currency Notes’ in the market ?
(A) July 1, 1999 
(B) July 1, 2010
(C) July 1, 2011 
(D) Sept. 1, 2011
Answer: July 1, 2010

16. Which is the measures of credit control ?
(A) Quantitative credit control
(B) Qualitative credit control
(C) Budgetary control
(D) Both (A) and (B)
Answer: Both (A) and (B)

17. NPAs stands for—
(A) Net Present Value
(B) Non Preforming Assets
(C) Net Pure Assets
(D) Net Permanent Assets
Answer: Non Preforming Assets

18. When was introduced the Differential Rate of Interest (DRI) ?
(A) In 1972 
(B) In 1990
(C) In 2009 
(D) In 2011
Answer: In 1972

19. When was addopted, New strategy for Rural Lending : Service Area Approach ?
(A) April 1, 1989 
(B) March 1, 2007
(C) April 1, 2010 
(D) April 1, 2011
Answer: April 1, 1989

20. As on June 30, 2010, Which Indian Bank has the maximum number of offices in abroad ?
(A) Bank of India 
(B) SBI
(C) Bank of Baroda 
(D) None of these
Answer: SBI