Banking Quiz for IBPS | SBI – 300

Banking Quiz for IBPS | SBI – 300

1.We can open a saving bank account in the sole name of a minor if he completes age of _____?
a) 18
b) 21
c) 10
d) None of these

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Answer c) 10

2.In SNRR Account, SNRR stands for ________.
a) Statutory Non Reflex Rupee
b) Single Non Resident Rupee
c) Special Non Resident Rupee
d) None of these

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Answer c) Special Non Resident Rupee

3.What is the purpose of KYC in banking?
a) It is used for customer identification
b) It is used against money laundering
c) It is used by the central bank to control liquidity
d) Both (a) and (c)

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Answer d) Both (a) and (c)

4.When Reserve Bank intends to increase credit by the banking system, it
a) Reduces the bank rate
b) Raises the bank rate
c) Freezes the bank rate
d) None of these

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Answer a) Reduces the bank rate
A fall in bank rate mil lowers the lending rates in the money market which in turn will stimulate commercial and industrial activity, for which more credit will be required from the banks. Thus, there will be expansion of the volume of bank Credit.

5.Tagline of Bank of Baroda –
a) Where India Banks
b) India’s International Bank
c) Relationships beyond Banking
d) None of these

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Answer b) India’s International Bank

6.Normally banks accept fixed Deposits for a maximum period of:
a) 5 years
b) 10 years
c) 20 years
d) None of these

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Answer b) 10 years
Term Deposit Accounts can be opened for a minimum period of 7 days up to maximum period of 10 years. The minimum/maximum periods are subject to change. v. The rates of interest vary depending on the period of deposit.

7._____________is a short term and unsecured promissory notes issued by corporations with very high credit standing?
a) Demand draft
b) Credit card
c) Commercial Paper
d) None of these

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Answer c) Commercial Paper

8.Which of the following is not a tool in the hands of RBI to control the inflationary pressure in the country?
a) Bank Rate (BR)
b) Special Drawing Rights (SDR)
c) Statutory Liquidity Ratio (SLR)
d) None of these

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Answer b) Special Drawing Rights (SDR)

9.When was the Financial Market Department was established by RBI?
a) May, 1999
b) Jan, 2000
c) July,2005
d) None of these

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Answer c) July,2005
RBI sets up new dept for financial markets. With a view to strengthening its monetary operations, the Reserve Bank of India (RBI) has constituted a new financial markets department (FMD). Also, Rakesh Mohan has been appointed deputy governor of the RBI on July 2, 2005.

10.In which year does the Differential Rate of Interest Scheme was introduced?
a) 1972
b) 1982
c) 1992
d) None of these

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Answer a) 1972
Government of India had formulated in March, 1972 a scheme for extending financial assistance at concessional rate of interest @ 4% to selected low income groups for productive endeavours initially by public sector banks and then by private sector banks also .

About the author

Richa

Richa Gupta is a Banking Aspirant. Her dream is to become a PO in Government Bank. Aptitude and Reasoning are her strong zones. Richa is a hard working person who loves to share the knowledge she acquired to other Aspirants.

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