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Banking Knowledge / Financial Awareness Quiz for SBI | IBPS

1. Where the Principal Code Compliance Officers (PCCOs) are working?
a) Private companies
b) In the banks
c) Insurance companies
d) Share market
e) Chit fund companies
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2. BCSBI has played a pivotal role in enhancing awareness about what?
a) Deposits collection
b) Customer service in banks
c) Savings habit
d) Medical facilities
e) None of the above
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3. States with CD ratio higher than the all-India average are Tamil Nadu (106.5 percent) followed by Maharashtra (106.3 percent), Chandigarh (102.9 per cent), Andhra Pradesh (100.2 per cent), Telangana (99.6 per cent) and NCT of Delhi (88.5 percent). The abbreviation CD ratio stands for what?
a) Compact Disc
b) Credit-deposit (C-D) ratio
c) Computer Disc
d) Cash – Deposit
e) None of these
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4. ECS is an electronic mode of payment / receipt for bulk transactions that are repetitive and periodic in nature. Once the customer subscribes to the facility by giving a mandate (authorization), the funds are transferred on the due date from/into the bank account electronically. In the abbreviation ECS, the letter E stands for what?
a) Election
b) Environment
c) Electronic (ECS:Electronic Clearing Service)
d) Engineering
e) None of these
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5. ‘Commemorative Coins’ are issued by whom (in Indian currency)?
a) Commemorative Coins include coins issued by Government of India Mint to commemorate any specific occasion or event
b) Private companies
d) LIC
e) None of these
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6. The origins of the Reserve Bank of India can be traced to 1926, when the Royal Commission on Indian Currency and Finance, also known as _________ the recommended the creation of a central bank for India to separate the control of currency and credit from the Government and to augment banking facilities throughout the country.
a) Hilton-Young Commission
b) Sarkaria Commission
c) Planning Commission
d) NITI Ayog
e) None of these
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7. In which year the Royal Commission on Indian Currency and Finance recommended creation of a central bank for India?
a) 1919
c) 1909
d) 1935
e) 1940
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8. Which Paper on Indian Constitutional Reforms recommended the creation of a Reserve Bank (1933)? (Later, a fresh bill was introduced in the Legislative Assembly.)
a) Blue Paper
b) White Paper
c) Red Paper
d) Yellow Paper
e) None of these
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9. The Government of India nationalized the Reserve Bank under the Reserve Bank (Transfer of Public Ownership) Act, 1948. Starting as a private shareholders’ bank, the Reserve Bank was nationalized in which year?
a) 1949
b) 1934
c) 1935
d) 1956
e) None
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10. Who is the chief executive of Reserve Bank of India?
a) Governor
b) Dy. Governor
c) Executive Director
d) Board of Director
e) None of these
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11. The Central Government nominates fourteen Directors on the Central Board, including one Director each from the four Local Boards. How many other Directors represent different sectors of the economy, such as, agriculture, industry, trade, and professions?
a) Two
b) Ten
c) Three
d) Four
e) None of these
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12. The DICGC insures all deposits (such as savings, fixed, current, and recurring deposits) with eligible banks except which of the following?
a) Deposits of foreign Governments
b) Deposits of Central/State Governments
c) Inter-bank deposits; Deposits of the State Land Development Banks with the State cooperative bank
d) Any amount due on account of any deposit received outside India; Any amount, which has been specifically exempted by the corporation with the previous approval of Reserve Bank of India.
e) All the above
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13. When National Housing Bank was set up under the National Housing Bank Act, 1987 as a wholly-owned subsidiary of the Reserve Bank to act as an apex level institution for housing?
a) 1969
b) on July 9, 1988
c) 1980
d) 1.1.2017
e) None of these
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14. When Reserve Bank established BRBNMPL as a wholly-owned subsidiary to augment the production of bank notes in India and to enable bridging of the gap between supply and demand for bank notes in the country?
a) 1989
b) in February 1995
c) 1992
d) 1996
e) 2004
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15. What is the total staff strength of RBI as of June 30, 2009?
a) 20,572
b) 17,500
c) 12,000
d) 25,000
e) None of these
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16. The Reserve Bank has also set up which autonomous institutions? such as,.
a) National Institute of Bank Management (NIBM), Pune
b) Indira Gandhi Institute for Development Research (IGIDR), Mumbai
c) Institute for Development and Research in Banking Technology (IDRBT), Hyderabad
d) All the above
e) None of these
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17. There was a time when the Reserve Bank used _________ as the policy target. However, with the weakened relationship between money, output and prices, it replaced M3 as a policy target with a multiple indicators approach.
a) Paper money
b) Broad money (M3)
c) Currency notes
d) Fiat money
e) None of these
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18. The Reserve Bank traditionally relied on __________ such as Cash Reserve Ratio (CRR) and Statutory Liquidity Ratio (SLR).
a) Direct instruments of monetary control
b) Promissory notes
c) Bonds
d) Shares
e) Debentures
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19. The approach underwent a paradigm shift following the recommendations of the High Level Committee on Balance of Payments chaired by whom?
a) Dr. C. Rangarajan (1993)
b) Taraporewala
c) Narasimham
d) Brajesh Kumar
e) None of these
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20. Open Market Operations in the form of ____________ are an important tool of the Reserve Bank’s monetary management.
a) Outright purchase/sale of Government securities
b) Companies shares
c) Companies debentures
d) P-notes
e) None of these
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21. The Kisan Credit Card (KCC) Scheme was introduced in the year ______ to enable the farmers to purchase agricultural inputs and draw cash for their production needs
b) 2004
c) 2014
d) 2016
e) None of these
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22. Which Committee was set up in July 1933, after the India Office Committee adopted the 1928 Reserve Bank Bill as the basis and proposed certain amendments to the Bill?
a) London Committee
b) Delhi Committee
c) Berlin Committee
d) Kolkata Committee
e) None of these
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23. In April 1935 The Reserve Bank of India was created as a private share holders’ bank. Who was appointed as the first Governor of the Reserve Bank of India?
a) Sir Osborne Smith
b) I.G.Patel
c) S.Jagannatham
d) L K Jha
e) None of these
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24. When Sir C. D.Deshmukh took over as Governor, RBI?
a) August, 1943
b) 1949
c) 1956
d) 1928
e) None of these
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25. When High Denomination Bank Notes of Rs 500, Rs 1,000 and Rs 10,000 were demonetised to curb unaccounted money, before independence of India ?
a) January 1946
b) 1934
c) 1935
d) 1930
e) None of these
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26. When decimal coinage was introduced in India, after independence?
a) 1947
b) October 1956
c) 1948
d) 1961
e) None of these
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27. When Indian rupee was devalued by 36.5 percent, for the first time after independence?
a) June, 1966
b) 1959
c) 1961
d) 1962
e) None of these
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28. Who is the Chairman of Banking Codes and Standards Board of India (BCSBI)?
a) Anand Aras
b) A. C. Mahajan
c) S.S.Mundra
d) Usha Thorat
e) None of these
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29. What are the three significant developments in the banking sector in India?
a) The growing challenges and realities of industry mainly arising from adoption of technology
b) Addition of new customers in the formal banking structure arising from the financial inclusion efforts
c) Emergence of new entities like payment banks and small finance banks
d) All the above
e) None of these
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30. In the abbreviation SHCIL, the letter S stands for what?
a) Stock (SHCIL : Stock Holding Corporation of India Limited )
b) Share
c) Sure
d) Sovereign
e) None of these
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Banking Knowledge / Financial Awareness Quiz for SBI | IBPS

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