Banking Quiz – 50

BANKING QUIZ

1. RBI was nationalized in the year
a) 1949
b) 1952
c) 1955
d) 1964

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Answer a) 1949

2. The Banking Regulation Act was implemented on ______?
a) September 6, 1949
b) April 1, 1949
c) March 10, 1949
d) March 31, 1949

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Answer c) March 10, 1949

3. The fourteen banks were nationalized on _____?
a) July 19, 1969
b) June 1, 1969
c) June 16, 1969
d) July 1, 1969

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Answer a) July 19, 1969

4. RBI was established on ___________.
a) April 1, 1925
b) April 1, 1935
c) April 1, 1945
d) April 1, 1955

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Answer b) April 1, 1935

5. The remaining six banks were nationalised on ______?
a) April 15, 1980
b) April 5, 1980
c) April 1, 1980
d) April 1, 1982

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Answer a) April 15, 1980

6. RBI has directed commercial banks to resolve ATM transaction-related complaints within seven working days. If a commercial bank is unable to do so then it has to pay Rs.____per day as compensation.
a) 50
b) 100
c) 200
d) 225

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Answer b) 100

7. When was SBI established?
a) April 1, 1935
b) July 31, 1969
c) May 5, 1955
d) July 1, 1955

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Answer d) July 1, 1955

8. Lead Bank Scheme was introduced in ______?
a) 1965
b) 1969
c) 1981
d) 1992

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Answer b) 1969

9. A cheque becomes stale after _____?
a) 2 months
b) 3 months
c) 6 months
d) 12 months

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Answer b) 3 months

10. Certificate of Deposits can be issued for a maximum period of _____?
a) 45 days
b) 3 months
c) 6 months
d) 1 year

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Answer d) 1 year

11. At present, the Repo Rate is ____?
a) 6.75 percent
b) 8.25 percent
c) 7.00 percent
d) 9.00 percent

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Answer a) 6.75 percent

12. An order cheque can be converted into a bearer cheque by means of ________?
a) Sans recourse endorsement
b) Special endorsement
c) Blank endorsement
d) Sans frais endorsement

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Answer c) Blank endorsement

13. “Federal Reserve” is the Financial Organization of ______?
a) The USA
b) The UK
c) UAE
d) France

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Answer a) The USA

14. Which of the following acts as the Regulators for the Credit Rating Agencies in India?
a) RBI
b) SBI
c) SIDBI
d) SEBI

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Answer d) SEBI

15. These days Banks are offering Loans against Property? Under which business segment, this activity may be categorized?
a) Corporate Banking
b) Personal Banking
c) Merchant Banking
d) Portfolio Management-Services

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Answer b) Personal Banking

16. What do we mean by “ECB” in financial terms?
a) Essential Commercial Borrowings
b) Essential Credit & Borrowings
c) External Credit & Business
d) External Commercial Borrowings

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Answer d) External Commercial Borrowings

17. One of the major challenges faced by the Banking Industry is Money Laundering. Name the Act/Norms launched by the banks to curb Money Laundering, in general?
a) Know your customer norms
b) Banking Regulation Act
c) Negotiable Instrument Act
d) Narcotics and Psychotropic Act

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Answer a) Know your customer norms

18. A cheque which is not crossed is called _______?
a) Open cheque
b) Bearer cheque
c) Uncrossed cheque
d) Order cheque

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Answer a) Open cheque

19. The minimum acceptable amount under the Certificate of Deposit is ____?
a) Rs. 1 lakhs
b) Rs. 10 lakhs
c) Rs. 20 lakhs
d) Rs. 25 lakhs

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Answer a) Rs. 1 lakhs

20. The Stock Exchange Board of India was set up by a Special Act in ____?
a) 1988
b) 1989
c) 1987
d) 1990

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Answer a) 1988

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