Banking Awareness MCQ Questions Answers

Banking Awareness MCQ Questions Answers for various Bank Exam – Prelims Mains

In today’s rapidly evolving financial landscape, possessing banking awareness is crucial for individuals to make informed decisions about their finances and navigate the complex world of banking and finance. Banking Awareness Multiple Choice Questions (MCQs) provide a valuable tool for enhancing financial literacy and understanding the fundamental concepts of banking, thereby empowering individuals to manage their money more effectively. This article aims to shed light on the significance of banking awareness MCQs and present a collection of insightful questions and answers to deepen your understanding of the banking sector.

Importance of Banking Awareness

Banking is an integral part of our lives, impacting everything from saving, investing, borrowing, and even retirement planning. Having a solid grasp of banking concepts is essential to make informed decisions that align with your financial goals. Banking awareness MCQs help individuals:

Question Answer – Set 1

Question Answer – Set 2

1) Which of the following is not a primary function of a Bank?

a) Granting Loans

b) Collecting Cheques/Drafts customers

c) Facilitating import of goods

d) Issuing Bank Drafts

View Answer
Option – c)

2) Interest rate “Savings deposit” now a days is decided by

a) RBI

b) SBI

c) Respective Banks

d) IBA

View Answer
Option – c)

3) The facility not available in the BSBDA is ?

a) Deposit amount

b) Withdrawing of cash

c) ATM Card

d) Withdrawal form facility

e) All above facilities are available

View Answer
Option – e)

4) Budget is an instrument of

a) Commercial policy of the government

b) Fiscal policy of the Government

c) Monetary policy of the government

d) Money-saving policy of the government

View Answer
Option – b)

5) “ASBA” stands for

a) Application supported by bank account

b) Application supported by balance account

c) Application supported by blocked account

d) Application supported by blocked amount

View Answer
Option – d)

6) Reserves which can act as a liquidity buffer for commercial banks during crisis times are

a) CAR

b) SLR

c) CAR and CRR

d) CRR and SLR

View Answer
Option – b)

7) The Majority shareholder in CRISIL is _________?

a. Standard and Poors’
b. Fitch Ratings Inc.
c. Moody’s
d. Dun and Bradstreet

View Answer
Option – a)

8) Which was the first bank to introduce cheque system in India?

a. Bengal Bank
b. Bank of Hindustan
c. General Bank of India
d. Presidency Bank

View Answer
Option – a)

9) Who cancelled Sahara Mutual Fund license on 28th July’15?

a. Supreme Court
c. BSE

View Answer
Option – b)

10) Who has been appointed as the MD and CEO of Bank of Baroda by the government?

a. P S Jayakumar
b. Jaykumar Sharma
c. Shiv Pal Sharma
d. Ajay Shankar

View Answer
Option – a)