Banking awareness plays a vital role in the General knowledge section.So, start preparing for your mains examination and score more marks by practising these quizzes.

1) DICGC is a subsidiary of Reserve bank of india for the purpose of providing insurance of deposits and guaranteeing of credit facilities. What is the abbreviation of I in DICGC?

a) India

b) Industrial

c) Insurance

d) Information

e) Integration

2) ANBC is the net bank credit plus investments made by banks in non-SLR bonds held in the held-to-maturity category equivalent amount of off-balance-sheet exposure,whichever is higher.What is the abbreviation ofv ANBC?

a) Advance Non Bank Credit

b) Advance Net Bank Category

c) Adjusted Net Bank Credit

d) Advance Net Bank Credit

e) Advance Net Bank Category

3) SHG is a village-based financial internediary committee usually composed of 10–200 local women or men.What is the abbreviation of SHG?

a) self-held group

b) Securities -help group

c) self-help group

d) squares-help group

e) service-help group

4) The _________ scheme is a credit scheme introduced which was prepared by the NABARD on the recommendations of R.V.GUPTA committee to provide term loans and agricultural needs.

a) Kisan Capital Card

b) Kisan Central Card

c) Kisan Credit Card

d) Kaushal Credit Card

e) Kisan Company Card

5) The ______ Scheme is an expeditious and inexpensive forum for bank customers for resolution of complaints relating to certain services rendered by banks.

a) Adjusted Net Bank Credit

b) Internal Ombudsman

c) Kisan Credit Card

d) Banking Ombudsman

e) self-help group

6) FEMA an act initiated to facilitate external trade and payments and to promote orderly management of the forex market in the country.What is the abbreviation of E in FEMA?

a) Electronic

b) European

c) Exchange

d) External

e) Eternal

7) FERA is an act promulgated, to regulate payments and foreign exchange in India.What is the abbreviation of FERA?

a) Foreign Electrical Regulation Act

b) Foreign Exchange Regulation Act

c) Foreign Export Regulation Act

d) Floating Exchange Regulation Act

e) Forward Exchange Regulation Act

8) RTGS is an electronic form of funds transfer where the transmission takes place on a real time basis and transfer of funds with RTGS is done for high value transactions, the minimum amount being _____

a) Rs 2.5 lakh

b) Rs 4 lakh

c) Rs 2 lakh.

d) Rs 3 lakh

e) Rs 1 lakh

9) National Electronic Funds Transfer (NEFT) is an Indian system of electronic transfer of money from one bank or bank branch to another.The maximum transaction limit of NEFT per transaction is _______.

a) 20000

b) 70000

c) 50000

d) 60000

e) 55000

10) IFSC code is a unique eleven-digit number which is a combination of alphabets and numerals,which is used to transfer funds online for NEFT, IMPS and RTGS transactions.What is the acronym for IFSC?

a) Indian Financial Service Code

b) Industrial Functional System Code

c) Investment Financial System Code

d) Indian Financial System Code

e) Indian Functional System Code

11) MICR is a product of highly advanced Character Recognition Technology (CRT) used by banks to verify cheques for clearance.What is the acronym of C in MICR?

a) Credit

b) Commercial

c) Central

d) Character

e) Code

12) A SWIFT code is an international bank code that identifies particular banks worldwide. It’s also known as a _________

a) Bank

b) Bank Identifier Certificate

c) Bankruptsy Code

d) Bank Identification Code

e) Bank Identifier Code

13) A _______ is a negotiable instrument similar to a bill of exchange that can be issued to a client, directing another bank or one of its own branches to pay a certain sum to the specified party.

a) Crossed Cheque

b) Demand Draft

c) Cheque

d) Bill

e) Letter of Credit

14) Which of the following comes under plastic money?

a) Credit card

b) Debit card

c) Smart card

d) All of the above

e) None of these

15) NPCI aims to allow all Indian citizens to have unrestricted access to e-payment services.What is the acronym for C in NPCI?

a) Credit

b) Company

c) Cash

d) Corporation

e) Co-ordination

16) _______ is a cheque clearing system undertaken by the Reserve Bank of India RBI for faster clearing of cheques.

a) Crossed cheque

b) Over Draft

c) Demand Draft

d) Letter of Credit

e) Cheque Truncation System

17) Which of the following account holds all the shares that you purchase in electronic or dematerialized form.?

a) Fixed Deposit Account

b) Demat Account

c) Current Account

d) Savings Account

e) no-frills Account

18) A BSBDA can be opened with simplified KYC document and also with nil balance.

a) Balance Savings Bankruptsy Deposit Account

b) Balance Savings Bank Deficit Account

c) Balance Savings Bank Deposit Account

d) Basic Savings Bankruptsy Deposit Account

e) Basic Savings Bank Deposit Account

19) Who has been appointed as managing director of the country’s largest lender State Bank of India?

a) Shyam Srinivasan

b) Arijit Basu

c) B Sriram

d) Aditya Puri

e) Shika Sharma

20) OLTAS is used to maintain the records of banks paid through banks through online upload of challan details.What is the acronym for OLTAS?

a) Online Text accounting Service

b) Online Tax accounting Service

c) Online Tax accounting System

d) Online Tax activation System

e) Online Text accounting System

Answer Key

1) c) Insurance

2) c) Adjusted Net Bank Credit

3) c) self-help group

4) c) Kisan Credit Card

5) d) Banking Ombudsman

6) c) Exchange

7) b) Foreign Exchange Regulation Act

8) c) Rs 2 lakh

9) c) 50000

10) d)Indian Financial System Code

11) d) Character

12) e) Bank Identifier Code

13) b) Demand Draft

14) d) All of the above

15) d) Corporation

16) e) Cheque Truncation System

17) b) Demat Account

18) e) Basic Savings Bank Deposit Account

19) b) Arijit Basu

20) c) Online Tax accounting System

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