Banking and Financial Awareness for RBI/IBPS Exams

Q1. Which of the following organizations is known as a regulator associated with the financial activities in India?

(c) UNESCO

Q2. Treasury bills are sold in India by? 

(a) Reserve Bank of India 

(b) State Governments 

(c) Commercial Banks 

(d) SEBI 

Q3. As per the instructions given by the RBI, now all banks are required to provide which of the following in all it's branches mandatorily?

(a) Note Sorting Machines

(b) Special Counters for Senior Citizens 

(c) Service sector 

(d) All of the above 

Q4. Which of the following terms is NOT used in the field of Banking & Finance?

(a) Overdraft 

(b) Base Line

Q5. Current Accounts cannot be freely opened by ………………….?

(a) All NRIs

(b) All businessmen 

(c) Government department 

Q6. In order to avoid crowding of customers wanting to withdraw cash in the branches, banks have provided many delivery channels. Which of the following is one of the most popular channels of getting instant hard cash? 

(a) Core Banking Solution

(b) Pay Orders 

(c) Demand Drafts 

(d) Automated Teller Machines

Q7. When someone wants to open a new savings banks account, the bank asks him/her to bring various documents. Which of the following is one of these documents?

(a) Certificate of medical fitness 

(b) Degree Certificate 

(c) Proof of Residence & Identity

(d) None of the above 

Q8. As we all know, when we deposit a cheque issued in our name in the bank, the bank always checks if the cheque has been crossed or not. Why is this done?

(a) It ensures that the money is deposited only in the account of the person in whose name the cheque has been drawn

(b) It is a process by which the person who has issued the cheque comes to know whether the cheque is encashed or not.

(c) The bank insists on it only when the party wants the payment immediately and that too in cash only

(d) This is the instruction of RBI that all the cheques of the amount of Rs. 10,000/- should be accepted only if they crossed.

Q9. Which of the following terms is NOT associated with banking operations?

(a) Repo Rate

(b) Prime Lending Rate

(c) Equator

(d) Corporate Finance 

Q10. A student has got admission to a foreign university. From where can he/she get the foreign currency?

(a) From the Bank of that country only

(b) From the Ministry of Foreign Affairs 

(c) From office of the Consulate General of the country 

(d) From an authorized foreign exchange dealer 

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