General Awareness Objective Questions 7.............
1. A money deposited in a bank that cannot be withdrawn for a preset fixed period of time is known as a
l) Term deposit 2) Checking Account 3) Savings Bank Deposit
4) No Frills Account 5) Current Deposit 1
2. A worldwide financial messaging network which exchanges messages between banks and financial institutions is known as
1) CHAPS 2) SWTFT 3) NEFT 4) SFMS 5) CHIPS 2
3. Which of the following ministries along with the Planning Commission of India has decided to set up a Corpus Fund of Rs500 crore, so that tribals in Naxal-hit areas can be provided proper means of livelihood ?
l) Ministry of Rural Development
2) Ministry of Home Affairs 3) Ministry of Tribal Affairs
4) Ministry of Corporate Affairs 5) Ministry of Finance 1
4. Which of the following was the issue over which India decided to vote against Sri Lanka in the meeting of one of the UN-governed bodies/agencies?
l) Violations of human rights in Sri Lanka
2) Allowing China to establish a military base in the Indian Ocean
3) Issue of subsidy on agricultural products in the meeting of the WTO
4) Allowing part of Sri Lanka to become an independent country governed by LTTE
5) Sri Lanka's claim to become a permanent member of UN Security Council 1
5. The term 'Smart Money' refers to
1) Foreign Currency 2) Internet Banking 3)US Dollars
4) Traveller’s cheques 5) Credit Cards 5
6. Which of the following is not a ‘Money Making Instrument'?
l) Treasury Bills 2) Commercial papers
3) Certificate of Deposit 4) Equity Shares 5) NOT 4
7. Which of the following is a retail banking product?
l) Home Loans 2) Working capital finance 3) Corporate term loans 4) Infrastructure financing 5) Export Credit 1
9. In the summit of which of the following organizations/
group of nations it was decided that all members should
enforce Budget Discipline?
1) G-8 2) OPEC 3) European Union 4) SAARC 5) G-20 3
10. As per newspaper reports, India is planning to use 'SEU' as
fuel in its700MW nuclear reactors being developed
in new plants. What is the full form of 'SEU' as used here?
1) Safe Electrical Units 2) Small Electrical Units
3) Slightly Enriched Uranium 4) Sufficiently Enriched Units
5) Safely Enriched Uranium 3
11. Technological advancement in recent times has given a new dimension to banks, mainly to which aspect?
l) New Age Financial Derivatives 2) Service Delivery Mechanism
3) Any Time Banking 4) Any Type Banking
5) Multilevel Marketing 3
12. When there is a difference between all receipts and expenditure of the Govt of India, both capital and revenue, it is called
1) Revenue Deficit 2) Budgetary Deficit
3) Zero Budgeting 4) Trade Gap
5) Balance of Payments Problem 2
13. Which of the following is NOT a function of the Reserve Bank of India?
l) Fiscal Policy Functions 2) Exchange Control Functions
3) Issuance, Exchange and Destruction of currency notes
4) Monetary Authority Functions
5) Supervisory and Control Functions 2
14. Which of the following is NOT required for opening a bank account?
l) Identity Proof 2) Address Proof
3) Recent Photographs 4) Domicile Certificate
5) None of these 4
15. What is the maximum deposit amount insured by DICGC?
1) Rs2,00,000 per depositor per bank
2) Rs2,00,000 per depositor across all banks
3) Rs1,00,000 per depositor per banks
4) Rs2,00,000 per depositor across all banks
5) None of these 4
16. With reference to a cheque which of the following is the 'drawee bank'?
1) The bank that collects the cheque 2) The Payee's bank 3) The endorsee's bank 4) The endorser's bank 5) The bank upon which the cheque is drawn 1
17. In which of the following fund transfer mechanisms' can funds be moved from one bank to another and where the
transaction is settled instantly without being bunched with any other transaction?
1) RTGS 2) NEFT 3) TT 4) EFT 5) MT 1
18. Who among the following was the Captain of the South African Team in the ongoing series against India ?
1) A B De Villiars 2) Quinton De Cock 3) Faf DuPlesis
4) Hasim Amla 5) M S Dhoni 1
19. The committee on review of National Small Savings Fund
with any other (NSSF) was headed by
1) Dr C Rangarajan 2) U K Sinha 3) Dr P V Reddy
4) Shyamala Gopinath 5) Usha Thorat 4
20. Banking Ombudsman Scheme is applicable to the business
of
1) All scheduled commercial banks excluding RRBs
2) All scheduled commercial banks including RRBs
3) Only Public sector banks 4) All banking companies
5) All scheduled banks except private banks 2
21. Nationalisations of banks aimed at all of the following except
1) Provision of adequate credit for agriculture, SME & exports
2) Removal of control by a few capitalists
3) Provision of credit to big industries only
4) Access of banking to masses
5) Encouragement of a new class of entrepreneurs 3
22. Which of the following banks is headed by a woman CEO?
l) Bank of Baroda 2) HDFC Bank 3) Central Bank of India
4) Punjab National Bank 5) ICICI Bank 5
23. Which act is in vogue in India is against the thinking of
raising school fee as per demand of the market forces?
l) Prevention of Corruption Act
2) Child Labour (Prohibition & Regulation) Act
3) Sharda Act 4) Right to Education Act
5) MG National Rural Employment Guarantee Act 4
24. Base Rate is the rate below which no Bank can allow their
lending to anyone. Who sets up this Base Rate, for Banks?
l) Individual Banks Board 2) Ministry of Commerce
3) Ministry of Finance 4) RBI
5) Interest Rate Commission of India 1
25. Who among the following is the author of the book
Nirbasan?
l) Mahashweta Devi 2) Taslima Nasreen
3) Sunil Gangopadhyay 4) Vikram Seth 5) Kiran Desai 2
26. What is a 'Debit Card'?
l) It is a card issued by a Rating Agency.
2) It is a card which can be used for withdrawing cash or making payment even in the absence of any balance in the account.
3) It is a card which can be used for withdrawing cash or making payment if there is balance in the account:
4) It is a card which carries prepaid balance.
5) It is a card which can be used for making STD calls. 3
27. Immediately prior to change in the measure of Food Inflation,
which of the following indexes was being used for measuring it?
1) Wholesale Price Index 2) Consumer Price Index
3) Intrest rates offered by banks on deposit
4) Sensex and Nifty 5) None of these 1
28. Which of the following statements is true?
1) Banks cannot accept demand and time deposits from public.
2) Banks can accept only demand deposits from public.
3) Banks can accept only time deposits from public.
4) Banks can accept both demand and, time deposits from public.
5) Banks can accept demand and time deposits only from govt. 4
29. Interest payable on savings bank accounts is
l) not regulated by RBI.
2) regulated by State Governments.
3) regulated by Central Government.
4) regulated by RBI.
5) regulated by Finance minister. 4
30. Which of the following is a correct statement?
1) State Bank of India is the sole authority to issue and manage currency in India .
2) A nationalised bank is the sole authority to issue and manage currency in India.
3) A cooperative bank is the sole authority to issue and manage currency in India
4) RBI is the sole authority to issue and manage currency in India.
5) None of these 4
31. The Govt of India recently decided to raise the price of oil products like, diesel, petrol and cooking gas. However, some taxes on these products were reduced or scrapped altogether. What were these taxes which were reduced or scrapped?
(A) Customs Duty (B) VAT (C) Excise Duty
1) Only (A) 2) Only (B) 3) Both (A) and (C)
4) All (A), (B) and (C) 5) NOT 3
32. Accounts are allowed to be operated by cheques in respect of
1) Both savings bank accounts and fixed deposit accounts
2) Savings bank accounts and current accounts
3) Both savings bank accounts and loan accounts
4) Both savings bank accounts and cash accounts
5) Both current accounts and fixed deposit account 2
33. Which of the following is a correct statement?
1) Normally no interest is paid on current deposit accounts.
2) Interest is paid on current accounts at the same as term deposit accounts.
3) The rate of interest on current account and savings account are the same.
4) No interest is paid on any deposit by the bank.
5) Savings deposits are the same as current deposits. 1
34. The usual deposit accounts of banks are
1) Current accounts, electricity accounts and insurance premium accounts
2) Current accounts, post office savings bank accounts and term deposit accounts
3) Loan accounts, savings bank accounts and term deposit accounts
4) Current accounts, savings bank accounts and term deposit accounts
5) Current bill accounts and term deposit accounts 4
35. Fixed deposits and recurring deposits are
1) repayable after an agreed period. 2) repayable on demand.
3) not repayable. 4) repayable after death of depositors.
5) repayable on demand or after an agreed period as per
bank's choice. 1
36. Which of the following is not a Millennium Goal set by
the UNO?
1) eradicate extreme poverty and hunger
2) reduce child mortality
3) ensure environmental sustainability
4) combat terrorism and bring people in main stream of society
5) to achieve universal primary education 4
37. Financial inclusion means provision of
1) financial services, namely, payments, remittances, savings, loans and insurance at affordable cost to persons not
yet given the same.
2) ration at affordable cost to persons not yet given the same.
3) house at affordable cost to persons not yet given the same.
4) food at affordable cost to persons not yet given the same.
5) education at affordable cost to persons not yet given the same. 1
38.Which of the following statements containing results of India's recent Census is not correct?
1) Kerala has about 94% literacy, the highest in India. 2) The sex ratio in India is 940.
3) Male literacy is lower than female literacy in seven most developed states.
4) Uttar Pradesh is the most populous State in India.
5) The population of India has increased by 181 million during the decade 2001-2011. 3
39. Which of the following is known as cross-selling by
Banks?
(A) Sale of a debit card to a credit card holder
(B) Sale of Insurance policy to a depositor
(C) Issuance of cash against cheque presented by a third party
1) Only (A) 2) Only (B) 3) Only(C)
4) Both (A) and (C) 5) All (A), (B) and (C) 5
40. When a bank returns a cheque unpaid, it is called
1) payment of the cheque 2) drawing of the cheque
3) cancelling of the cheque
4) dishonor of the cheque 5) taking of the cheque 4
41. Mortgage is a
1) security on movable property for a loan given by a bank.
2) security on immovable property for a loan given by a bank.
3) concession on immovable property for a loan given by a bank.
4) facility on immovable property for a loan given by a bank,
5) security on immovable property for a deposit received by a bank. 2
42. Which of the following types of accounts are known as
'Demat Accounts'?
1) Accounts which are Zero Balance Accounts
2) Accounts which are opened to facilitate repayment of a
loan taken from the bank. No other business can be
conducted from there.
3) Accounts in which shares of various companies are traded in electronic form
4) Accounts which are operated through internet banking facility 5) None of these 3
43. Who is the chairman of the committee constituted by RBI to study Issues and Concerns in the Micro
Finance Institutions (MFI) Sector?
1) YH Malegam 2) Dr KC Chakraborty 3) C Rangrajan
4) M Damodaran 5) Smt Usha Thorat 1
44. Upper limit prescribed for RTGS transaction is
1)Rs1 lac 2)Rs2 lacs 3)Rs 5 lacs
4) Rs50 lacs 5) No upper limit is prescribed 5
45. Distribution of insurance products and insurance policies
by banks as corporate agents is known as
1) General Insurance 2) Non-life insurance 3) Bancassurance 4) Insurance banking 5) Deposit insurance 3
46. In order to attract more foreign exchange the Govt of India decided to allow foreign investment in LLP firms. What is full form of "LLP" as used in this reference?
1) Local Labour Promotion 2) Low Labour Projects
3) Limited Loan Partnership 4) Longer Liability Partnership
5) Limited Liability Partnership 5.
47. NEFT means
1) National Electronic Funds Transfer system
2) Negotiated Efficient Fund Transfer System
3) National Efficient Fund Transfer Solution
4) Non Effective Fund Transfer System
5) Negotiated Electronic Foreign Transfer system 1.
48. Who among the following has been appointed as a director
on board of Bank of America-the first non- American on
the board of the one of the largest financial institutions in
the world?
1) AzimPremji 2) Ratan Tata 3) MukeshAmbani
4) K V Kamath 5) Chanda Kochar 3.
49. When the rate of inflation increases
1) purchasing power of money increases
2) purchasing power of money decreases
3) value of money increases
4) purchasing power of money remains unaffected
5) amount of money in circulation decreases 2.
50.. Interest on savings bank account is now calculated by banks on
1) minimum balance during the month
2) minimum balance from 7th to last day of the month
3) minimum balance from 10th to last day of the month
4) maximum balance during the month
5) daily product basis. 5.
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