Banking Awareness Quiz - Part 5

In the series of sharing Banking awareness study material, today I am sharing 25 important Banking awareness questions.

Q1. Full form of TPA
a)  Third Party Administrator
b) Total Performing Assets
c)  Third Party Association
d)  None of these

Q2. Under which RBI was nationalized 
a) Transfer of Private Ownership Act, 1944
b) Transfer of Public Ownership Act ,1948
c) Transfer of Joint Ownership Act, 1940
d) None of these

Q3. Where are four regional centres of RBI located?
a) Mumbai, Kolkata, Chennai and Delhi.
b) Kolkata, Chennai, Mumbai, Gujrat
c) Gurarat, Mumbai, Kolkata, Delhi 
d) None of these

Q4. Scheduled Commercial Banks  have paid up capital and reserves – aggregate value of not less than:
a) Rs.5,00,000
b)  6,00,000
c) 8,00,000
d) None of these


Q5. Scheduled Commercial Banks has to maintain their CRR up to:
a) 3% of their time and demand liabilities
b)  5% of their time and demand liabilities
c)  7% of their time and demand liabilities 

d) None of these

Q6. Scheduled Commercial Banks’ CRR can go up to maximum of:
a) 15%
b) 16%
c)  17% 

d)None of these

No such limit now

Until the RBI Act was amended in 2007, the minimum value of CRR was statutorily fixed at 3% and the maximum was fixed at 20%. Both these limits were removed by the amendment.

Q7. How many Public Sector Banks are nationalized:
a)  14
b)  20
c) 21 

d) None of these

Q8. How many Public Sector Banks were nationalized on 19 -07 -1969:
a) 14
b) 15
c) 16
d) None of these


Q9. Under which Act, Industrial Reconstruction Bank of India was reconstituted: 

a) IRBI Act,1984
b) IRBI Act, 1986
c)  IRBI Act, 1987
d) None of these


Q10. Minimum Paid up capital for Private Sector Bank must be: 

a)  100 crore
b)  150 crore
c)  105 crore
d) None of these


Q11. On 2-10-1975, which types of banks were established: 
a) Public Sector Banks 
b) Private Sector Banks
c) Regional Rural Banks
d) None of these


Q12. Local Area Banks were established on: 
a) 24-8-1996
b) 24-09-1995
c) 24-7-1992 
d) None of these

Q13. Local Area Banks were registered as public limited companies under which act: 

a) Companies Acct, 1956
b) SEBI Act, 1885
c) Limited Liability Partnership Act

d) None of these

Q14. Full form of NBFC 

a) Non -Banking Finance Companies
b) Non -Banking Financial Corporation
c) National Banking Financial Corporation 

d) None of these

Q15. LIC was established in which year:
a) 1956
b) 1965
c) 1977 

d) None of these

Q16. National Bank for Agricultural and Rural Development was established in: 
a) 1982 under act of parliament
b) 1985 under act of parliament
c) 1988 under act of parliament 

d) None of these

Q17.  LIC established on :
a)  1-9-1956
b)  1-10-1965
c) 1-9-1965
d)  None of these

Q18. What was the establishement year of UTI in India:

a)  1963, By Act of Parliament
b) 1965, By Act of Parliament
c)  1969, By Act of Parliament
d)  None of these

Q19. General Insurance Corporation of India was formed and registered on:
 a)  January, 1973
 b)  January,1974
 c)   February, 1975
 d)   None of these

Important note

GIC was founded on 22 November 1972. Entire General Insurance business was nationalized bu Government of India through the General Insurance Business (Nationalisation) Act (GIBNA) of 1972. On 1st January, 1974, the 55 Indian insurance companies were also merged into the four ultimate companies by schemes merger. So GIC actually started it's business on 1 January 2015.

Q20. General Insurance Corporation of India was registered under:
 a) Insurance Act, 1938
 b) Companies Act, 1956
 c) SEBI Act, 1885
 d) None of these

Q21. EXIM means:
a)  Export and Import Bank of India
b)  Exchange in Monetary Transaction
c)  Export in Monetary Transaction
d)  None of These 

Q22. The Export and Import Bank of India Act Passed on:
a) 1981
b) 1984
c) 1986
d) None of these 

Q23. EXIM bank offers credit and lines of credit(LOC) to:
 a) Foreign Government and Banks
 b) Domestic Government and Banks
 c) Only Private Sector Banks
 d) None of these 

Q24. National Housing Bank was established on:
 a)  1985
 b) 1984
 c) 1988
 d)  None of these


Take previous quiz here

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