Banking Awareness Practice Set
1. The rate at which the central bank of a country lends money to commercial banks in the event of any shortfall of funds is called
Answer : Repo Rate
2. In a bid to curtail domestic black money flow, the finance ministry has announced that it will be mandatory to furnish permanent account number (PAN) for all transactions above Rs.________ through all payment modes with effect from January 1, 2016.
Answer : Rs. 2 lakh
3. Many a time we read in the newspapers that RBI has changed or revised a particular ratio/rate by a few basis points. What is basis point?
Answer : One hundredth of 1%
4. Which is NOT a type of cheque issued by an individual?
Answer : Savings cheque
5. What is Financial Inclusion?
Answer : Delivery of financial services at affordable costs to vast sections of disadvantaged and low-income groups
6. Which places in India does not have a stock Exchange?
Answer : Udaipur
7. Which is the name of private sector Bank in India?
Answer : Axis Bank
8. Which types of companies/organisation issue “ULIP”?
Answer : Insurance Companies
9. In order to avoid crowding of customers wanting to withdraw cash in the branches, banks have provided many delivery channels. Which of the following is one of the most popular Channels of getting instant hard cash?
Answer : Automated Teller Machines
10. Who amongst the following has suggested to the banks in India to give details of fund transfer to customers via SMS/ E-mails?
Answer : Reserve Bank of India (RBI)