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 nationalised bank was merged with Punjab National bank in 1993?
[A] Punjab and Sind Bank
[B] Ludhiana Area bank
[C] Majha united bank
[D] New Bank of India
Show Answer
Correct Answer: D [New Bank of India]
Notes:
In the year 1993, the Union government merged the New Bank of India with Punjab National Bank. Total nationalised banks came down to 19 with this.
22. Who was the Prime Minister of India when Banking Nationalization was done in 1969?
[A] Jawahar Lal Nehru
[B] Indira Gandhi
[C] Rajiv Gandhi
[D] Narsimha Rao
Show Answer
Correct Answer: B [Indira Gandhi]
Notes:
Indira Gandhi was the Prime Minister of India when the first round of Banking Nationalization was done in 1969.
23. When was the State Bank of India nationalised?
[A] 1955
[B] 1956
[C] 1959
[D] 1964
Show Answer
Correct Answer: A [1955]
Notes:
In 1955, the former Imperial Bank of India became the State Bank of India with the Act of parliament. It marked the initial phase of nationalization.
24. Why were Banks nationalised in India?
[A] To borrow money from USA
[B] To follow the IMF guidelines
[C] To provide the government of India more control of credit delivery
[D] All of the above
Show Answer
Correct Answer: C [To provide the government of India more control of credit delivery]
Notes:
The Banks were nationalised in India to provide the government of India more control of credit delivery and further economic development.
25. How many banks were nationalised in 1980?
Show Answer
Correct Answer: B [6]
Notes:
Six banks were nationalised in 1980. These were as following: 1. Andhra Bank 2. Corporation Bank 3. New Bank of India 4. Oriental Bank of Commerce 5. Punjab & Sindh Bank 6. Vijaya Bank
26. How many banks were Nationalised in 1969 under the Banking Companies (Acquisition and Transfer of Undertakings) Ordinance, 1969?
Show Answer
Correct Answer: B [14]
Notes:
The Government of India issued the Banking Companies (Acquisition and Transfer of Undertakings) Ordinance, 1969 and nationalised the 14 largest commercial banks namely Punjab National Bank, Allahabad Bank and others.
27. When was the Banking Ombudsman scheme first introduced in India?
[A] 1995
[B] 1998
[C] 1999
[D] 2001
Show Answer
Correct Answer: A [1995]
Notes:
In 1995, Banking Ombudsman scheme was launched with an objective to provide quicker solutions to customers’ complaints.
28. When was the process of introducing computerization in all branches of banks began in 1993?
[A] 1991
[B] 1992
[C] 1993
[D] 1994
Show Answer
Correct Answer: C [1993]
Notes:
The process of introducing computerization in all branches of banks began in 1993 in line with the Committee on Computerization in Banks’ recommendations, which had been submitted in 1989.
29. What was the target set by Narasimham-II Committee for the capital adequacy ratio of the banks by the year 2000?
[A] 8%
[B] 9%
[C] 10%
[D] 11%
Show Answer
Correct Answer: B [9%]
Notes:
The committee targeted raising the capital adequacy ratio to 9% by 2000 and 10% by 2002 and have penal provisions for banks that fail to meet these requirements.
30. In which year Reserve Bank of India introduced cheque truncation system?
[A] 2008
[B] 2009
[C] 2010
[D] 2011
Show Answer
Correct Answer: A [2008]
Notes:
In 2008, the Reserve Bank of India introduced cheque truncation system, to convert checks from physical form to electronic form when sending to the paying bank.
