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 one among the following has not started commercial banking?
[A] ICICI
[B] SIDBI
[C] IDBI
[D] UTI
Show Answer
Correct Answer: B [SIDBI]
52. What is the reserve deposit ration (RDR)?
[A] the proportion of money RBI lends to commercial banks
[B] the proportion of total deposits commercial banks keep as reserves
[C] the total proportion of money that commercial banks lend to the customers
[D] none of the above
Show Answer
Correct Answer: B [the proportion of total deposits commercial banks keep as reserves]
Notes:
‘Reserve Ratio’ also known as Cash Reserve Ratio, it is the percentage of deposits which commercial banks are required to keep as cash according to the directions of the central bank.
53. Which of the following accounts is intended to manage the income earned in India from sources like pension, dividend, rent, etc?
[A] NRO account
[B] NRE account
[C] NRI account
[D] None of the above
Show Answer
Correct Answer: A [NRO account]
Notes:
An NRO account is a savings or current account held in India that helps NRIs manage income earned in India such as rent, dividends, or pension from abroad.
54. Credit Card is an essential component of which of the following?
[A] Electronic Commerce
[B] Internet Commerce
[C] Both 1 and 2
[D] None of The Above
Show Answer
Correct Answer: C [Both 1 and 2]
Notes:
A credit card is a payment card issued to users (cardholders) to enable the cardholder to pay a merchant for goods and services based.
55. 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.
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. What is the full form of FINO?
[A] Financial Investment Network and Operations
[B] Farmers’ Investment Network and Operations
[C] Farmers’ Inclusion Network and Operations
[D] Financial Inclusion Network and Operations
Show Answer
Correct Answer: D [Financial Inclusion Network and Operations]
Notes:
Financial Inclusion Network and Operations (FINO), based in the financial capital of India, is an integrated technology platform and delivery channel, enabling sourcing and servicing micro customers on a large scale.
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. Which of the following is true regarding BCA?
[A] BCA works for Insurance companies
[B] A BCA can provide services to only 1 bank
[C] A BCA can provide services to more than 1 bank
[D] None of the above
Show Answer
Correct Answer: C [A BCA can provide services to more than 1 bank]
Notes:
Baseline Credit Assessment. is a measure of the probability that a bank will require support to avoid default beyond the support provided by its affiliates. overview.
60. Which of the following banks is the first to provide Mobile ATM?
[A] HSBC
[B] ICICI BANK
[C] SBI
[D] Axis Bank
Show Answer
Correct Answer: B [ICICI BANK]
Notes:
ICICI Bank, India’s largest private sector bank, today announced the launch of “ATM on Wheels”, India’s first Mobile ATM, in Mumbai.
