Banking Awareness MCQs Quiz Multiple Choice Questions & Answers

1. Who is the present Chairman of State Bank of India?

1. Arundhati Bhattacharya
2. O.P. Bhatt
3. Pratip Chaudhuri
4. Chanda Kochar

2. Who is the present Governor of RBI?

1. K.C. Chakrabarty
2. D K Mittal
3. Raghuram Rajan
4. Montek Singh Ahluwalia

3. We should keep our savings with banks because

1. It is safe
2. Earns interest
3. Can be withdrawn anytime
4. All of above

4. Bank does not give loan against

1. Gold Ornaments
2. LIC policy
3. Lottery ticket
4. NSC

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

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

6. 100/- Rupee note is signed by

1. Prime Minister
2. Finance Minister
3. RBI Governor
4. None of above

7. Aadhaar is

1. 12 digit number card
2. Identity proof issued by UIDAI
3. Both a and b
4. None of above

8. Account payee cheques can be paid

1. At cash counter of Bank
2. At ATM
3. By deposit in Bank account
4. None of above

9. ATM can be used for

1. Cash withdrawal
2. Account enquiry
3. Statement of account
4. All of above

10. ATM means

1. Any Time Money
2. Auto Truck of Mahindra
3. Automated Teller Machine
4. None of above

11. ATM password should be kept in

1. Personal diary
2. Office diary
3. Memory
4. All of above

12. ATM password to be shared only with

1. Spouse
2. Obedient son
3. Obedient daughter
4. None of above

13. Bank charges interest on

1. Deposits
2. Loans
3. Both a and b
4. None of above

14. Bank does not provide loans for

1. Crop loans
2. Education loans
3. Home loans
4. Drinking & Gambling

15. Bank draft is issued by

1. Private Sector Banks
2. Regional Rural Banks
3. Public Sector Banks
4. All of above

16. Bank having maximum number of branches in India

1. Reserve Bank of India
2. State Bank of India
3. Punjab National Bank
4. Bank of Baroda

17. Bank Pass Book is

1. Issued by Bank
2. Contains transaction detailsof Bank account
3. Shows balance in account
4. All of above

18. Bank provides loans for

1. Home
2. Car
3. Education
4. All of above

19. Banks pays interest on

1. Deposits
2. Loans
3. Both a and b
4. None of above

20. Business Correspondent means

1. An agent who provides banking services
2. An agent of business house
3. A type of money lender
4. None of above

21. Can illiterate person be issued Debit card?

1. No
2. Yes
3. Only in case of joint account
4. Only in case he is head of family

22. Coins are issued by

1. Government of India
2. NABARD
3. Public sector banks
4. State Bank of India

23. Contents of locker are

1. only known to hirer
2. known to Bank
3. Both a and b
4. None of above

24. Currency notes are issued by

1. RBI
2. NABARD
3. Public sector banks
4. Central Government

25. Defaulter of loan means

1. Not paying loan instalments
2. Bad reputation
3. Illegal activities
4. None of above

26. E or S means

1. East or South zone
2. Easy and Swift
3. Either or Survivor
4. None of above

27. Education Loans

1. Cover tuition fee & expenses
2. Are repayable after completion of course
3. Granted for studies in India & abroad
4. All of above

28. Fixed Deposit can

1. not be withdrawn before maturity
2. paid only after maturity
3. withdrawn before maturity
4. All of above

29. General Insurance relates to insurance against

1. Fire
2. Theft
3. Burglary
4. All of above

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

1. It is safe
2. No risk of theft
3. Both a and b
4. None of above

31. Highest denomination of currency notes issued by RBI is

1. Rs.100/-
2. Rs.500/-
3. Rs.1,000/-
4. Rs.10,000/-

32. If locker rent is not paid, Bank can

1. seal the locker
2. stop operation of locker
3. break open the locker after giving suitable notice
4. All of above

33. In Recurring Deposits

1. a fixed sum is deposited every month
2. period of deposit is a fixed tenure
3. interest is paid at FDR rate
4. All of above

34. Interest on FDRs is compounded on

1. Monthly basis
2. Quarterly basis
3. Half yearly basis
4. Yearly basis

35. Interest on Savings Bank Deposits is paid

1. Every month
2. Quarterly
3. Half yearly
4. Yearly

36. Internet banking refers to

1. Operation of account through internet
2. Opening of account through ATM
3. Both a and b
4. None of above

37. KYC means

1. Know your customer
2. Know your character
3. Both of above
4. None of above

38. Life insurance means

1. Insurance of human
2. Insurance of life of human and Cattle
3. Insurance of Life of Machines
4. All of above

39. Loans from money lenders are

1. With High rate of interest
2. No proper accounting
3. No transparency
4. All of above

40. Maximum amount of Cheque

1. Rs.100 crore
2. No limit
3. Rs.1 crore
4. None of above

41. Maximum tenure of Fixed Deposit is

1. 5 years
2. 7 years
3. 8 years
4. 10 years

42. MGNREGS stands for

1. Mahatma Gandhi National Rural Employment Generation Scheme
2. Mahatma Gandhi Nutrition & Rural Employment Generation Scheme
3. Mahatma Gandhi National Rural Employment Guarantee Scheme
4. None of above

43. Minimum age required to open SB account in the bank

1. 8 years
2. 10 years
3. 12 years
4. None of above

44. Mutilated notes

1. should be burnt away
2. should be thrown away
3. can be exchanged at Bank
4. None of above

45. Nomination can be done in

1. Savings Bank account
2. Recurring Deposit account
3. Fixed Deposit account
4. All of above

46. Nomination once done can

1. Not be cancelled
2. Be cancelled
3. Not be changed
4. None of above

47. NRI means

1. Non Rural Individuals
2. Non Rural Immigrants
3. Non Resident Indian
4. None of above

48. PAN means

1. A kind of utensil
2. Primary Account Number
3. Permanent Account Number
4. None of above

49. PAN number is required for

1. Deposits less than Rs.50,000/-
2. Deposits in excess of Rs.1 lac
3. Deposits Rs.50,000/- & above
4. All transactions

50. Payment of cheque can be stopped by

1. Beneficiary
2. Nominee
3. Drawer of cheque
4. All of above