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 of the following is another name for Self help groups?

[A] mutual aid
[B] support groups
[C] groups of people
[D] All of the above

Show Answer

52. Which of the following is an account at a bank or credit union that earns interest over a specified amount of time?

[A] Interest Bearing Account
[B] Regular Checking Account
[C] De-materialized Account
[D] Savings Bank Account

Show Answer

53. The term Negotiable Instruments is associated with which of the following?

[A] A written document that transfers the value in it from one person to other
[B] A written document entitled on an individual by delivery or endorsement
[C] A written document, entitled on a person to receive money
[D] All of the above

Show Answer

54. Which of the following defines ‘At sight’ under section 21 of the Negotiable Instrument Act, 1881?

[A] on presentation
[B] on demand
[C] on coming into vision
[D] none of the above

Show Answer

55. What is the maximum amount of loan can be extended by payments banks?

[A] 25000
[B] 50000
[C] 100000
[D] No lending power

Show Answer

56. What is the minimum capital required to set up payments bank?

[A] Rs 100 crore
[B] Rs 75 crore
[C] Rs 50 crore
[D] Rs 25 crore

Show Answer

57. Which section of PSS Act, 2007 defines a payment system?

[A] Section 1
[B] Section 2(3)
[C] Section 2(1)
[D] Section 3(1)

Show Answer

58. What does S stands for in SFMS in relation to NEFT payment method?

[A] Statutory
[B] Systematic
[C] Structured
[D] Savings

Show Answer

59. Under Liberalised Remittance Scheme, PAN card need not be insisted upon for remittance made towards permissible current account transactions up to how much amount?

[A] USD 25,000
[B] USD 20,000
[C] USD 15,000
[D] USD 10,000

Show Answer

60. Which of the following remittances payments is one area that is a lifeline for millions of people across the globe, especially in rural areas?

[A] Digital remittance
[B] Ion remittance
[C] Blockchain remittance
[D] None of the above

Show Answer