Banking Awareness – 2020 for IBPS, RBI, SBI, NABARD and other Bank Examinations
Welcome to GKToday’s Banking Awareness Section. This section shows 100 random questions from GKToday’s Banking Awareness MCQs.
A chapterwise course of all the 925 questions divided into 88 Chapters in Banking Awareness is Available in
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21. Which was the first small finance bank in India?
[A] Capital Small Finance Bank Limited
[B] Jana Small Finance Bank
[C] Ujjivan Financial Services Pvt Ltd
[D] AU Small Finance Bank
Show Answer
Correct Answer: A [Capital Small Finance Bank Limited]
Notes:
Capital Small Finance Bank Limited commenced operations as India’s 1st Small Finance Bank on April 24, 2016 after conversion from Capital Local Area Bank.
22. What is the deposit limit on saving accounts in the Payment banks?
[A] Rs 1 lakh
[B] Rs 50000
[C] Rs 5 lakhs
[D] Rs 10 lakhs
Show Answer
Correct Answer: A [Rs 1 lakh]
Notes:
Payments banks can accept demand deposits up to Rs. 1 lakh per account from individuals and small businesses.
23. Who headed the committee to evaluate the license applications for Payment banks?
[A] C Rangarajan
[B] Usha Thorat
[C] Nachiket Mor
[D] B S Mehta
Show Answer
Correct Answer: C [Nachiket Mor]
Notes:
In 2015, RBI formed an external advisory committee (EAC) headed by Nachiket Mor would evaluate the license applications. Total 41 applicants had applied for the license.
24. Under what section of the Banking Regulation Act, 1949 the payments banks are licensed?
Show Answer
Correct Answer: A [22]
Notes:
Payment banks are licensed as payments banks under Section 22 of the Banking Regulation Act, 1949, and will be registered as public limited company under the Companies Act, 2013.
25. Who is the chairperson of the Monetary Policy committee of India?
[A] Finance Minister
[B] Prime Minister
[C] RBI Governor
[D] Chief Economic Advisor
Show Answer
Correct Answer: C [RBI Governor]
Notes:
The Monetary Policy Committee of India comprises six members – three officials of the Reserve Bank of India and three external members nominated by the Government of India. The Governor of Reserve Bank of India is the chairperson ex officio of the committee.
26. Which of these banks is regulated by Reserve bank of India?
[A] Local Area Banks
[B] Cooperative Banks
[C] Commercial Banks
[D] All of the above
Show Answer
Correct Answer: D [All of the above]
Notes:
RBI regulates Commercial Banks, Regional Rural Banks, Local Area Banks, Cooperative Banks, Financial Institutions including Development Financial Institutions (DFIs) and Non-Banking Financial Companies.
27. In how many languages is the amount is written on the bank note?
Show Answer
Correct Answer: B [17]
Notes:
The amount of a banknote is written on it in 17 languages out of 22 official languages of India. The languages are Assamese, Bengali, Gujarati, Kannada, Kashmiri, Konkani, Malayalam, Marathi, Nepali, Oriya, Punjabi, Sanskrit, Tamil, Telugu and Urdu.
28. Who signs the One Rupee notes in India?
[A] Prime Minister
[B] RBI Governor
[C] Finance Secretary
[D] President
Show Answer
Correct Answer: C [Finance Secretary]
Notes:
The One Rupee note is issued by Ministry of Finance and it bears the signatures of Finance Secretary.
29. Which Union Budget had first proposed the setting up of PDMA?
[A] Budget 2011-12
[B] Budget 2012-13
[C] Budget 2013-14
[D] Budget 2014-15
Show Answer
Correct Answer: A [Budget 2011-12]
Notes:
Former Finance Minister Pranab Mukherjee had first announced the setting up of PDMA in Budget 2011-12, which was later also backed by the Financial Sector Legislative Reforms Commission in its report in 2013.
30. What is the minimum limit of CRR that can be set by the RBI?
[A] No Limit
[B] 12%
[C] 15%
[D] 20%
Show Answer
Correct Answer: A [No Limit]
Notes:
The Reserve Bank of India (RBI) Act implicitly prescribed the CRR originally at a minimum of 3 per cent of any bank’s net demand and time liabilities. That restriction was removed by an amendment in 2006.
