Home General Knowledge General Intelligence

Banking And Finance

Read instructions before starting.

1. Timer will begin immediately after you click on Start button. Questions, options and buttons will be visible after begining of the test.

2. Click Finish button after you have completed the test before lapse of time. Finish button will be automatically triggered if time is over.

3. You are not allowed to answer the questions after finishing the test. Answers will be shown for the questions answered only.

Select Timer Speed in Seconds p/q.
 45 Scs  30 Scs  15 Scs
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
1Which Act empowered the Reserve Bank of India (RBI) to regulate, control, and inspect the banks in India?
BR Act 1935
RBI Act 1935
BR Act 1949

Right Answer: 3
In 1949, the Banking Regulation Act was enacted which empowered the Reserve Bank of India (RBI) to regulate, control, and inspect the banks in India.
Question ID: 108

2Who was the first Indian appointed as the Governor of Reserve Bank of India?
Dr.Shanmugam Chettiyar
Sir.Benegal Rama Rau
Sir C.D.Desh Mukh

Right Answer: 4
Sir C.D. Deshmukh, CIE, ICS, was an Indian civil servant and the first Indian to be appointed as the Governor of the Reserve Bank of India in 1943 by the British Raj authorities.
Question ID: 528

3Which of the following is not a right combination?
GDP: Gross Domestic Product
CRR: Cash Reserve Ratio
NPCI: National Payment Corporation of India
SLR: Statutory Limit Ratio

Right Answer: 4
SLR: Statutory liquidity ratio refers to the amount that the commercial banks require to maintain in the form of gold or govt. approved securities before providing credit to the customers.
Question ID: 130

4Lead Bank Scheme was implemented in 1969. Which Committee proposed the Lead Bank Scheme?
Narasimham Committee
M. Damodaran Committee
Dr Gadgil Committee
Goyal Committee

Right Answer: 3
Lead Bank Scheme is launched in Dec. 1969 implementing the recommendations of Pro.Dr Gadgil Committee, aimed at bringing involvement of banks in the planned process of rural development.
Question ID: 119

5What is the full name of UPI, popular money transfer system in India?
Universal Payments Interface
Universal Payments on Internet
Unified Payments Interface
Unified Payments on Internet

Right Answer: 1
The unified payments interface or the UPI is an interface via which you can transfer money between bank accounts across a single window.
Question ID: 433

6In which section Non-Scheduled Commercial Banks are defined?
Clause (c) of section 6 of the Banking Regulation Act, 1949 (10 of 1949)
Clause (c) of section 5 of the Banking Regulation Act, 1949 (11 of 1949)
Clause (c) of section 5 of the Banking Regulation Act, 1949 (10 of 1949)
Clause (c) of section 6 of the Banking Regulation Act, 1949 (10 of 1949)

Right Answer: 3
Non-scheduled bank in India means a banking company as defined in clause (c) of section 5 of the Banking Regulation Act, 1949 (10 of 1949), which is not a scheduled bank.
Question ID: 109

7Who will appoint the Banking Ombudsman to redress customer complaints against certain deficiencies in banking Services?
Ministry of Finance
Reserve Bank of India
Chief Justice, Supreme Court
Chief Justice, High Court of a state

Right Answer: 2
The Banking Ombudsman is a person appointed by the Reserve Bank of India to redress customer complaints against certain deficiency in banking Services. RBI may appoint one of its Officers not below the rank of Chief General Manager of RBI.
Question ID: 141

8Which of the following are not the Scheduled Commercial Banks?
Urban Co-Operative Banks
Regional Rural Banks
State Bank of India and Associates
Nationalised Banks

Right Answer: 1
Scheduled Banks in India constitute those banks which have been included in the Second Schedule of Reserve Bank of India(RBI) Act, 1934.
Question ID: 123

9Which of the following is not the function of Reserve Bank of India?
Monetary Management
Maintaining Foreign Exchange Reserves
Government Debt Management
Regulating Diesel and Petroleum prices

Right Answer: 4
RBI functions comprise monetary management, foreign exchange and reserves management, government debt management, financial regulation and supervision, apart from currency management and acting as banker to the banks and to the Government.
Question ID: 118

10Which of the following is not a Plastic Money?
PAN Card
Debit Card
Credit Card
Prepaid Card

Right Answer: 1
Permanent Account Number (PAN) is unique alphanumeric combination issued to all juristic entities identifiable under the Indian Income Tax Act 1961.
Question ID: 133

11Which of the following statement is false?
Banking Regulation Act, 1949
Negotiable Instrument Act, 1881
Reserve Bank Of India Act, 1935
State Bank of India Act, 1955

Right Answer: 3
Reserve Bank of India Act, 1934 is the legislative act under which the Reserve Bank of India was formed on 1st April, 1935.
Question ID: 126

12Which is the first e-wallet in India?
PayTm wallet
Oxigen wallet
Wallet 365

Right Answer: 3
Oxigen wallet is the first ever e-wallet was launched in India in July, 2004. Second wallet365 launched in 2006.
Question ID: 474

13When was Reserve Bank of India established?
01 April, 1934
01 April, 1935
01 Jan, 1949
01 Jan, 1951

Right Answer: 2
The Reserve Bank of India, the nation's central bank, began operations on April 01, 1935. The RBI was nationalized on January 1, 1949 under the terms of the Reserve Bank of India (Transfer to Public Ownership) Act.
Question ID: 73

14Which of the following statement is not true in respect of Debit Card features?
Debit Cards can not be used at POS
Online payments can be made using Debit Cards
Debit Card holder has to maintain balance in the account.
Debit Card holder can draw cash from any ATM

Right Answer: 1
A debit card (also known as a bank card or check card) is a plastic payment card that provides the cardholder electronic access to his or her bank account(s) at a financial institution. Debit Cards can be used at Point of Sales (POS) for payments.
Question ID: 127

15State Bank of India Day is observed on which of the following day?
30 April
1 July
25 October
30 November

Right Answer: 2
State Bank of India was founded on 1 July, 1955. State Bank of India observes July 1st as its Bank Day.
Question ID: 125

16The acronym NEFT stands for
National Electrical Funds Transfer
National Electronic Funds Transaction
National Electronic Funds Transfer
National Electronic Financial Transfer

Right Answer: 3
National Electronic Funds Transfer (NEFT) NEFT is electronic funds transfer system, which facilitates transfer of funds to other bank accounts in other bank branches across the country.
Question ID: 142

17How many banks were nationalised in the second phase of nationalisation in 1980?

Right Answer: 4
Six banks, Oriental Bank of Commerce, Corporation Bank, Andhra Bank, Punjab & Sindh Bank, Vijaya Bank and New Bank of India were nationalized in 1980.
Question ID: 72

18Which Bank is called Apex Bank?

Right Answer: 2
Reserve Bank of India acts as a bankers bank.
Question ID: 117

19Which of the following is the role of NABARD?
Providing refinance to lending institutions in rural areas
Bringing about or promoting institutional development and
Evaluating, monitoring and inspecting the client banks
All the above

Right Answer: 4
National Bank for Agriculture and Rural Development is an apex supervisory body for overall supervision of regional rural banks and apex cooperative banks in India. It is under the jurisdiction of Ministry of Finance, Government of India.
Question ID: 121

20When was State Bank Of India constituted?
1st July, 1955
1st June, 1956
2nd August, 1958
3rd August, 1958

Right Answer: 1
On 30 April 1955, the Imperial Bank of India became the State Bank of India. An act was accordingly passed in Parliament in May 1955 and the State Bank of India was constituted on 1 July 1955.
Question ID: 107

Start Review Reset Finish Reload
Total QuestionsQuestions AnsweredRight AnswersWrong Answers
Copy Rights Reserved @ gkwis.com 2021