Banking Awareness Quiz: We have created many quizzes on Banking Awareness that are very important for banking and insurance exams. We provide you Banking Awareness questions and answers based on the latest pattern for upcoming competitive exams like IBPS, SBI, RRB, GATE. Do you ever think of a magical quiz which is a superb mantra for getting success in any competitive field? This page provides that Quiz on Banking Awareness which is very helpful for the individuals to crack any exams effortlessly and easily.

Banking Awareness

Q.1. KYC’ (Know Your Customer) norms were implemented in the Indian banking system in 2002 as per the directive of ?

b) RBI
c) IBA
e) None of these

Q.2. Often, we read in the newspapers that several Indian companies are taking the FCCB route to raise capital. What does the term FCCB stand for? 

a) Foreign Currency Convertible Bond
b) Foreign Convertible Credit Bond
c) Financial Consortium and Credit Bureau
d) Future Credit and Currency Bureau
e) None of these

Q.3. LAF is an indirect instrument of monetary policy, which is used by RBI to regulate the liquidity in banking system. ‘LAF’ stands for?

a) Liquidity Adjustment Facility
b) Liquidity Account Facility
c) Liquidity Allotment Facility
d) Long Adjustment Facility
e) None of these

Q.4. On the basis of which commission was RBI established?

a) Hilton Young Commission
b) British Commission
c) Federal Commission
d) Federation Commission
e) None of these

Q.5. Life insurance and general insurance companies like LIC, ICICI Prudential, ICICI Lombard, National Insurance etc. are regulated by which organisation?

a) RBI
d) IBA
e) None of these

Q.6. ‘CAMELS’ is a type of Bank Rating System. In CAMELS, what does ‘C’ stand for?

a) Currency
b) Compensation
c) Capital Adequacy
d) Capitalisation
e) None of these

Q.7. Which among the following is correct?

a) Money market provides long term source of finance
b) Recession in the industrial sector in India is normally due to a fall in exports
c) Ways and means advances given by RBI 
d) Exchange rate is fixed by RBI
e) None of these

Q.8. Which of the statements mentioned below is/are correct?
1. T-bills are issued by the Government of India on behalf of the RBI
2. T-bills are short-term money market instruments
3. T-bills cannot be purchased by a resident of India”

a) All are correct      
b) 2 & 3 are correct
c) Only 2 is correct     
d) Only 3 is correct
e) None of these

Q.9. In India, which among the following is/are a part of Legal Tender Money?

a) Both coins and currency notes
b) Both coins and bank drafts
c) Both currency notes and SDRs
d) Only currency notes issued by RBI
e) None of these

Q.10. In TRIPS, what does ‘I’ stand for?

a) Intellectual
b) Information
c) Indian
d) Infra
e) None of these

Banking Awareness Answers

Q.1 b) RBI
Q.2 b) Foreign Convertible Credit Bond
Q.3 c) Liquidity Allotment Facility
Q.4 d) Federation Commission
Q.5 c) IRDA
Q.6 c) Capital Adequacy
Q.7 c) Ways and means advances given by RBI 
Q.8 c) Only 2 is correct     
Q.9 a) Both coins and currency notes
Q.10 a) Intellectual

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