Correct Answer is: Both a and b

Correct Answer is: Automated Teller Machine

Correct Answer is: Either or Survivor

Correct Answer is: All of above

Contains transaction detailsof Bank account

Banking Awareness MCQ Multiple Choice Questions Answers for Practice

Q: 2. Bank does not give loan against

Correct Answer is: Lottery ticket

Q: 4. 100/- Rupee note is signed by

Correct Answer is: RBI Governor

Q: 6. Account payee cheques can be paid

Correct Answer is: By deposit in Bank account

Q: 10. ATM password to be shared only with

Correct Answer is: None of above

Q: 12. Bank does not provide loans for

Correct Answer is: Drinking & Gambling

1. We should keep our savings with banks because

It is safe
Earns interest
Can be withdrawn anytime
All of above

2. Bank does not give loan against

Gold Ornaments
LIC policy
Lottery ticket
NSC

3. ..............are not covered under PMJDY Life Insurance Scheme of Rs.30,000/-

Employees of Central / State Govt. / Public Sector Undertakings / Banks
Income Tax Payee
Aam Aadmi Bima Yojana beneficiaries
All of above

4. 100/- Rupee note is signed by

Prime Minister
Finance Minister
RBI Governor
None of above

5. Aadhaar is

12 digit number card
Identity proof issued by UIDAI
Both a and b
None of above

6. Account payee cheques can be paid

At cash counter of Bank
At ATM
By deposit in Bank account
None of above

7. ATM can be used for

Cash withdrawal
Account enquiry
Statement of account
All of above

8. ATM means

Any Time Money
Auto Truck of Mahindra
Automated Teller Machine
None of above

9. ATM password should be kept in

Personal diary
Office diary
Memory
All of above

10. ATM password to be shared only with

Spouse
Obedient son
Obedient daughter
None of above

11. Bank charges interest on

Deposits
Loans
Both a and b
None of above

12. Bank does not provide loans for

Crop loans
Education loans
Home loans
Drinking & Gambling

13. Bank draft is issued by

Private Sector Banks
Regional Rural Banks
Public Sector Banks
All of above

14. Bank having maximum number of branches in India

Reserve Bank of India
State Bank of India
Punjab National Bank
Bank of Baroda

15. Bank Pass Book is

Issued by Bank
Contains transaction detailsof Bank account
Shows balance in account
All of above

16. Bank provides loans for

Home
Car
Education
All of above

17. Banks pays interest on

Deposits
Loans
Both a and b
None of above

18. Business Correspondent means

An agent who provides banking services
An agent of business house
A type of money lender
None of above

19. Can illiterate person be issued Debit card?

No
Yes
Only in case of joint account
Only in case he is head of family

20. Coins are issued by

Government of India
NABARD
Public sector banks
State Bank of India

21. Contents of locker are

only known to hirer
known to Bank
Both a and b
None of above

22. Currency notes are issued by

RBI
NABARD
Public sector banks
Central Government

23. Defaulter of loan means

Not paying loan instalments
Bad reputation
Illegal activities
None of above

24. E or S means

East or South zone
Easy and Swift
Either or Survivor
None of above

25. Education Loans

Cover tuition fee & expenses
Are repayable after completion of course
Granted for studies in India & abroad
All of above

26. Fixed Deposit can

not be withdrawn before maturity
paid only after maturity
withdrawn before maturity
All of above

27. General Insurance relates to insurance against

Fire
Theft
Burglary
All of above

28. Gold and silver ornaments should be kept in bank lockers

It is safe
No risk of theft
Both a and b
None of above

29. Highest denomination of currency notes issued by RBI is

Rs.100/-
Rs.500/-
Rs.1,000/-
Rs.10,000/-

30. If locker rent is not paid, Bank can

seal the locker
stop operation of locker
break open the locker after giving suitable notice
All of above

Embark on an enlightening journey through the realm of Banking Awareness with our extensive collection of multiple-choice questions and answers. Whether you're a banking professional aiming to stay updated with industry trends, a student preparing for banking exams, or an individual seeking to enhance financial literacy, our repository offers invaluable insights. Explore topics such as banking regulations, financial products, banking operations, monetary policy, and digital banking. Each multiple-choice question is meticulously crafted to challenge your understanding and stimulate critical thinking about the intricacies of the banking sector. From understanding the role of central banks to analyzing banking technology and innovations, our MCQs provide a comprehensive exploration of all facets of Banking Awareness. Start exploring today to deepen your knowledge and stay informed in the ever-evolving landscape of banking!