Previous Year Banking Awareness Questions: Set 4

Previous Year Banking Awareness Questions: These questions have been taken from previous years of Bank PO, SBI PO, IBPS PO and Bank Clerk papers and these are very important for upcoming bank exams.

1. Which of the following organizations /agencies has specifically been set            up to boost overall rural development in India?
1) RBI           
2) SIDBI               
4) SEBI         

2. Banks in India are regulated under
1) Companies Act,1956
2) Banking Regulation Act,1949
3) Reserve Bank of India Act,1934
4) Special powers conferred on the RBI
5) None of these

3. A savings bank account opened with a commercial bank with zero or very minimal balance is known as
1) Savings Bank Ordinary Account
2) Student Savings Bank Account
3) No Frill Account
4) Current Account
5) Call Deposit

4. What does the letter R denote in the abbreviation ‘BR Act’ which controls banking activities in the country?
1) Reformation        
2) Regulation     
3) Reporting       
4) Resolution          
5) Ranking

5.’Base Rate’ in banks is
1) The rate of interest payable on demand deposits
2) The rate of interest payable on fixed deposits
3) The rate of interest charged by the RBI on long-term borrowings of public              sector banks
4) The minimum lending rate decided by the RBI which shall be adopted by all public sector banks
5) The minimum interest rate fixed by individual banks below which they cannot lend funds, except cases like govts-sponsored Scheme.

6. Banking sector falls under which of the following sectors?
1) Agriculture Sector      
2) Service Sector     
3) Manufacturing Sector
4) Industrial Sector      
5) Small Scale Sector

7. A savings bank deposit account is one where
1) The deposits are made only once in a year
2) Amounts are deposited and are withdrawn as per the requirement of the customers
3) Periodical fixed amounts are deposited month wise and withdrawals are allowed after a fixed period
4) The deposits are made once in every month
5) None of these.

8. Mobile banking requires
1) Account with a bank with mobile phone linked to inter-bank mobile payment service
2) Account with mobile post office
3) Account with bank along with mobile phone linked to international mobile payment service
4) Account with bank and mobile phone linked to interstate mobile payment service
5) Account with bank along with mobile phone linked to inter-district mobile payment service

9. In a bank, which of the following are the usual types of accounts?
1) Savings accounts, Electricity accounts and Insurance premium accounts
2) Fixed deposits, Post office savings bank accounts and Current deposit accounts
3) Current accounts, Savings bank accounts and Term deposit accounts
4) Loan accounts, Savings bank accounts and Term deposit accounts
5) Current bill accounts and Term deposit accounts

10. When a bank dishonors a cheque it is called
1) Settlement of the cheque
2) Withdrawing of the cheque
3) Payment of the cheque
4) Truncating of the cheque
5) Return of the unpaid cheque


1)3                   2)2                3)3            4)2            5)5        
 6)2                  7)2                8)1            9)3           10)5

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