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
GKToday’s Academy app for android mobiles.
51. Which pension plan provides benefits of pension by employer of organization?
[A] discretionary plan
[B] non-contributory plan
[C] contributory plan
[D] Non-discretionary plan
Show Answer
Correct Answer: B [non-contributory plan]
Notes:
Non-contributory pension plan is a retirement plan to which only the employer and/or the government contributes funds, but not the employees. Such plans are considered fringe benefits.
52. Which pay is reckoned as emoluments for pension and gratuity?
[A] Grade pay
[B] Basic pay
[C] Gross pay
[D] None of the above
Show Answer
Correct Answer: B [Basic pay]
Notes:
Basic salary is the amount paid to an employee before any extras are added or taken off, such as reductions because of salary sacrifice schemes or an increase due to overtime or a bonus.
53. Which of the following is also known as Additional State Pension?
[A] Basic state pension
[B] State First Related Pension
[C] State Earnings-Related Pension
[D] None of the above
Show Answer
Correct Answer: C [State Earnings-Related Pension]
Notes:
The State Second Pension (S2P), or Additional State Pension, was introduced in the UK by the Labour Government on 6 April 2002, to replace the SERPS (State Earnings-Related Pension Scheme).
54. The Lead Bank Scheme was finalised to adopt a which of the following for intensive development?
[A] Town
[B] District
[C] State
[D] Village
Show Answer
Correct Answer: D [Village ]
Notes:
Lead Bank Scheme was finalised to adopt preparedness at village level, of an objective to help the farming community.
55. Which of the following were the objectives of Lead Bank scheme?
[A] Eviction of unemployment and under employment.
[B] Survival growth in the living map for the poorest of the poor.
[C] Some basic needs arrangements included in poor sections of the society.
[D] All of the above
Show Answer
Correct Answer: D [All of the above ]
Notes:
Objectives of lead bank scheme is to evict unemployment, Survival growth in the living map for the poorest of the poor and to arrange basic needs arrangements included in poor sections of the society.
56. Lead Bank scheme was introduced to provide lead roles to which of the following banks?
[A] Public sector banks
[B] Private sector banks
[C] Both 1 and 2
[D] Neither 1 nor 2
Show Answer
Correct Answer: C [Both 1 and 2 ]
Notes:
Lead Bank scheme was introduced to provide lead roles to both public sector and private sector banks.
57. Which of the following is not true regarding Financial Inclusion plan?
[A] Simplified KYC norms for accounts opening
[B] Mandatory branches in unbanked villages
[C] BSBDA accounts with minimum balance criteria
[D] Micro branches to be opened in rural area
Show Answer
Correct Answer: C [BSBDA accounts with minimum balance criteria]
Notes:
Financial inclusion could be impeded by Know Your Customer regulation, according to a recent report published by the South African Reserve. Mandatory branches are to be intended in unbanked villages and micro branches should be opened in rural area.
58. Who among the following is a banking corresponding agent?
[A] An authorized representative of bank who offer banking services in unbanked areas
[B] Any person who offer banking services in unbanked areas
[C] An authorized representative of bank who makes profits for banks
[D] None of the above
Show Answer
Correct Answer: A [An authorized representative of bank who offer banking services in unbanked areas]
Notes:
Business Correspondents are retail agents engaged by banks for providing banking services at locations other than a bank branch/ATM. BCs enable a bank to provide its limited range of banking services at low cost.
59. How much percent of SHG consists exclusively of women?
[A] 90%
[B] 50%
[C] 80%
[D] 60%
Show Answer
Correct Answer: A [90%]
Notes:
90% of SHG consists exclusively of women. Woman animators can play more effective role in organising women SHGs.
60. Which of the following committee s recommended the setting up of ATM?
[A] Rangarajan committee
[B] Shere committee
[C] Saraf committee
[D] Narasimhan committee
Show Answer
Correct Answer: A [Rangarajan committee]
Notes:
Automated Teller Machine (ATM) is an electronic machine operated by a customer himself to deposit or withdraws cash. In India, Dr. C Rangarajan Committee was recommended the establishment of ATMs.
