Banking Awareness Quiz Set-2

Dear Readers, Banking Awareness Questions play important role in Banking exams. Around 50-60% of questions come from Banking Awareness which includes recent Banking updates also.

Try to Answer Banking Awareness questions given in this post. We will provide you more questions in next post.

Q1. Which of the following is the abbreviated name of the new Act which deals with money laundering?
(d) SALT
(e) PMLA

Q2. Which of the following is NOT a function of a bank?
(a) Providing project finance
(b) Selling Mutual Funds
(c) Deciding policy rates like CRR, Repo Rate/SLR etc
(d) Settlement of payments of behalf of the customers
(e) All of these are functions of a bank

Q3. Which of the following terms is NOT used in the Banking/Financial world?
(a) Holding Company
(b) Postdated cheque
(c) Credit
(d) Time deposit
(e) Centripetal force

Q4. Whenever some people wish to enter into the business world, it is a must for them to approach a bank. What services do banks provide them in this regard?
(1) Banks act as payment agents by operating current accounts, paying cheques and receiving payments for them.
(2) Maintaining account books for them for their day-to-day activities so that they are not required to appoint account/
finance personnel on a regular basis
(3) Lending money by way of overdraft, installment loan, credit or advance for business activities
(a) Only (1)
(b) Only (2)
(c) Only (3)
(d) Only (1) & (3)
(e) All of the above

Q5. A bank normally does not have to deal with an issue related to..........?
(a) payments and settlement systems
(b) contractual rights of creditors
(c) intellectual property rights
(d) cases of insolvency
(e) coordination between regulators active in banking / financial sectors

Q6. In India, the computerization program of banks are regulated and monitored by?
(a) SBI
(b) RBI
(c) ET and T
(d) Intell UNIV
(e) None of the above

Q7. The …… Committee on computerization in year 1984 recommended introduction of mechanization at branch, RO/ZO and HO levels?
(a) Rangarajan
(b) Shere
(c) Saraf
(d) Narasimham
(e) None of the above

Q8. Net Interest Income means?
(a) Interest generated from bank's assets less interest paid on liabilities
(b) Interest earned on advances
(c) Miscellaneous Income
(d) All of the above
(e) None of the above

Q9. PannirSelvam Committee Report relates to?
(a) Customer service
(b) Exposure Norms
(c) Frauds
(d) NPAs
(e) None of the above

Q10. Saraf Committee on Technology issues recommended?
(a) Remittance Facilities to Banks Customers
(b) Reporting of SGL Transactions in Government Securities
(c) Reporting of Currency Chest Operations & Government Transactions
(d) All of the above
(e) None of the above