Banking Awareness Test Questions - Set 6

1)   Which is the largest foreign bank in India?

a. American Express Bank Ltd.
b. DBS Bank Ltd.
c. HSBC Ltd.
d. Standard Chartered Bank
Answer  Explanation 

ANSWER: Standard Chartered Bank

Explanation:
No explanation is available for this question!


2)   Which bank started the first RRB named Prathama Grameen Bank?

a. Punjab National Bank
b. State Bank of India
c. Syndicate Bank
d. United Bank of India
Answer  Explanation 

ANSWER: Syndicate Bank

Explanation:
No explanation is available for this question!


3)   When did the Reserve Bank of India notify the draft regulations relating to the Credit Information Companies (Regulation) Act, 2005?

a. April 5, 2006
b. May 26, 2006
c. June 29, 2007
d. September 30, 2005
Answer  Explanation 

ANSWER: April 5, 2006

Explanation:
No explanation is available for this question!


4)   When was the Insurance Regulatory and Development Authority constituted?

a. 1938
b. 1971
c. 1993
d. 1999
Answer  Explanation 

ANSWER: 1999

Explanation:
No explanation is available for this question!


5)   Which of the following are the amounts owed to a company that are not going to be paid?

a. Bad debts
b. Non-performing Assets
c. Out of order accounts
d. Overdrawn accounts
Answer  Explanation 

ANSWER: Bad debts

Explanation:
No explanation is available for this question!


6)   Which of the following defines 'Para Banking' services?

a. Eligible financial services rendered by banks
b. Services provided through business correspondents
c. Services provided to armed forces personnel
d. Utility services provided by banks
Answer  Explanation 

ANSWER: Utility services provided by banks

Explanation:
No explanation is available for this question!


7)   Which among the following is incorrect?

a. RBI is the Bank of Issue
b. RBI acts as Banker to the Government
c. RBI is Banker's Bank
d. RBI does not regulate the flow of credit
Answer  Explanation 

ANSWER: RBI does not regulate the flow of credit

Explanation:
No explanation is available for this question!


8)   Under which sector will banking sector fall?

a. Agricultural sector
b. Industrial sector
c. Service sector
d. None of the above
Answer  Explanation 

ANSWER: Service sector

Explanation:
No explanation is available for this question!


9)   What does crossing of cheques make them?

a. Invalid document
b. Ineligible to endorse to a person other than the payee
c. Remain the same
d. Ineligible to get cash across the bank counter
Answer  Explanation 

ANSWER: Ineligible to endorse to a person other than the payee

Explanation:
No explanation is available for this question!


10)   When was the first Land Mortgage Bank established?

a. 1920
b. 1925
c. 1931
d. 1935
Answer  Explanation 

ANSWER: 1920

Explanation:
No explanation is available for this question!


11)   What is the full form of SWIFT?

a. Safe Window for Interbank Financial Transactions
b. Safe Window In case of Financial Transaction
c. Society for Worldwide Interbank Financial Telecommunication
d. Safe Window Institute For Transactions
Answer  Explanation 

ANSWER: Society for Worldwide Interbank Financial Telecommunication

Explanation:
No explanation is available for this question!


12)   What is 'fiat money'?

a. The currency backed by Government Guarantee
b. The currencybacked by tangible assets
c. The currency backed by gold reserves
d. The currency backed by budgetary support
Answer  Explanation 

ANSWER: The currency backed by Government Guarantee

Explanation:
No explanation is available for this question!


13)   Which of the following is known as a Savings Bank Account opened with a commercial bank with zero balance or very minimal balance?

a. Current Account
b. No frill account
c. Savings Bank-ordinary Account
d. Students Savings Bank Account
Answer  Explanation 

ANSWER: No frill account

Explanation:
No explanation is available for this question!


14)   Which of the following is a set of United State statutes added as Title VIII of the Consumer Credit Protection Act?

a. FACTA
b. FCRA
c. FDCPA
d. FOIA
Answer  Explanation 

ANSWER: FDCPA

Explanation:
No explanation is available for this question!


15)   Which of the following is the Federal regulatory agency that charters and supervises Federal credit unions?

a. AIRCSC
b. ARC
c. CAG
d. NCUA
Answer  Explanation 

ANSWER: NCUA

Explanation:
No explanation is available for this question!


16)   Which is the first Indian bank that started solely with Indian capital investment?

a. Canara Bank
b. Central Bank of India
c. Punjab National Bank
d. State Bank of India
Answer  Explanation 

ANSWER: Punjab National Bank

Explanation:
No explanation is available for this question!


17)   Who was the first Indian Governor of RBI?

a. C. D. Deshmukh
b. Benegal Rama Rau
c. R. K. Shanmukham Chetty
d. K. G. Ambegaonkar
Answer  Explanation 

ANSWER: C. D. Deshmukh

Explanation:
No explanation is available for this question!


18)   Which country started first plastic notes?

a. Afghanistan
b. Argentina
c. Australia
d. Austria
Answer  Explanation 

ANSWER: Australia

Explanation:
No explanation is available for this question!


19)   Whose signature does Indian currency note bear?

a. Finance Minister
b. Finance Secretary
c. RBI Governor
d. The President
Answer  Explanation 

ANSWER: RBI Governor

Explanation:
No explanation is available for this question!


20)   Which bank launched smart star account?

a. HDFC Bank
b. HSBC
c. ICICI Bank
d. IDBI Bank
Answer  Explanation 

ANSWER: ICICI Bank

Explanation:
No explanation is available for this question!