Banking Awareness Questions for Bank of India SO Exam | 1st June 2018

Dear Aspirants,

Banking Awareness for Bank of India SO Exam 2018

With the increased competition in the field of banking examinations, it has now become very important to cover up all the sections efficiently. One subject that can help you bagging graceful marks in the minimum time in these examinations is Banking Awareness. Banking Awareness Quiz not only helps you deal with the General Awareness Section of Banking Exams but also, the Personal Interview round of Banking Recruitment.

Q1. Consider the following statements-

1. In Indian Commercial Banking System, the number of the Non-Scheduled Bank is more than the Scheduled Banks.

2. The Non-Scheduled Banks in India Commercial Banking System are less than the Scheduled Banks.

3. State Bank of India is a Non-Scheduled Banks.

Which of the statements given above is/are correct?

(a) Only 1

(b) Only 2

(c) Only 3

(d) All of the above

(e) Only 1 and 3

S1. Ans.(b)

Sol. As per the Reserve Bank of India Act, 1934, banks in India are classified into scheduled and non-scheduled banks. Scheduled banks are those which are entered into the second schedule of the RBI Act, 1934. It includes those banks which have a paid-up capital and reserves of an aggregate value of not less than Rs. 5 lakhs and which satisfy RBI that their affairs are being carried out in the interests of the depositors. While, non-scheduled banks are those which have not been included in the second schedule of the Act. The scheduled banks comprise scheduled commercial banks and scheduled cooperative banks. Further, the scheduled commercial banks in India are categorised into five different groups according to their ownership and/or nature of operation:- (i) Nationalised Banks; (ii) State Bank of India and its associates; (iii) Regional Rural Banks (RRBs); (iv) Foreign banks; and (v) Other Indian private sector banks. Scheduled Co-operative Banks consist of Scheduled State Co-operative Banks and Scheduled Urban Co-operative Banks.

Q2. Which one of the following banks can be included in the Scheduled Commercial Banking System of India?

(a) Regional Rural Banks

(b) Private Sector Banks

(c) Foreign Banks in India

(d) All of the above

(e) None of the given options is true

S2. Ans.(d)

Sol. Scheduled commercial banks in India are categorised into five different groups according to their ownership and/or nature of operation:- (i) Nationalised Banks; (ii) State Bank of India and its associates; (iii) Regional Rural Banks (RRBs); (iv) Foreign banks; and (v) Other Indian private sector banks. Scheduled Co-operative Banks consist of Scheduled State Co-operative Banks and Scheduled Urban Co-operative Banks.

Q3. Match the following-

List-I

A. Allahabad Bank

B. Central Bank of India

C. Indian Overseas Bank

D. Punjab National Bank

List-II

1. Delhi

2. Kolkata

3. Mumbai

4. Chennai

(a) A-2, B-4, C-3, D-1

(b) A-2, B-3, C-4, D-1

(c) A-4, B-3, C-2, D-1

(d) A-4, B-1, C-3, D-2

(e) A-1, B-2, C-3, D-4

S3. Ans.(b)

Sol. The headquarter of Allahabad Bank is in Kolkata. Central Bank of India- Mumbai, Indian Overseas Bank- Chennai, Punjab National Bank- New Delhi.

Q4. Which of the following Public Sector Bank’s emblem figures a dog and the words ‘faithful friendly’ in it?

(a) Punjab National Bank

(b) Syndicate Bank

(c) Oriental Bank of India

(d) State Bank of India

(e) Central Bank of India

S4. Ans.(b)

Sol. Syndicate Bank has undertaken a comprehensive exercise on changing the back-ground colour/ repositioning of the Logo of the Bank. The repositioning of the Logo has been done with major changes in the basic colour retaining the picture of “DOG”, symbolizing the tradition of faithfulness and friendliness. The pictorial dog of the Logo is in sync with our Bank motto -‘Faithful and Friendly’. The combination of Orange, Yellow and White colours give uniqueness to our Logo.

Q5. Consider the following statements-

1. Scheduled Commercial Banks are those which have been included in the First Scheduled of RBI Act, 1934.

2. Non-Scheduled Commercial Banks are those which have been not included in the Second Scheduled of RBI Act, 1934.

3. Punjab National Bank is a Scheduled Banks.

Which of the statements given above is/are correct?

(a) Only 2

(b) Only 2 and 3

(c) Both 1 and 2

(d) All of the above

(e) None of the given options is true

S5. Ans.(b)

Sol. Only statement 2 and 3 is correct.

Q6. In India, the first bank of limited liabilities managed by Indians and founded in 1881 was-

(a) Hindustan Commercial Bank

(b) Oudh Commercial Bank

(c) Punjab National Bank

(d) Punjab and Sind Bank

(e) National Bank of India

S6. Ans.(b)

Sol. Oudh Commercial Bank was established in 1881 in Faizabad. At the time, it was the first commercial bank in India having limited liability and an entirely Indian.

Q7. How many banks were first nationalized?

(a) 10

(b) 12

(c) 14

(d) 16

(e) 24

S7. Ans.(c)

Sol. 14 banks were first nationalised in 1969.

Q8. When was the seconds phase of nationalization done?

(a) 1969

(b) 1968

(c) 1985

(d) 1980

(e) 1973

S8. Ans.(d)

Sol. A second dose of nationalisation of 6 more banks in 1980. 

Q9. How many banks were in second phase of nationalisation?

(a) 4

(b) 5

(c) 6

(d) 7

(e) 9

S9. Ans.(c)

Sol. 6 banks were nationalised in 1980.

Q10. Who will act as the banker to the Government of India?

(a) State Bank of India

(b) Reserve Bank of India

(c) NABARD

(d) Nationalised Banks

(e) Central Bank of India

S10. Ans.(b)

Sol. RBI will act as the banker to the Government of India.

Q11. Where is the headquarter of Reserve Bank of India?

(a) Mumbai

(b) Delhi

(c) Kolkata

(d) Ahmedabad

(e) Noida

S11. Ans.(a)

Sol. Headquarter of Reserve Bank of India is in Mumbai.

Q12. Match the following-

List-I

A. Allahabad Bank

B. Oriental Bank of Commerce

C. Punjab National Bank

D. UCO Bank

List-II

1. 1894

2. 1943

3. 1943

4. 1865

(a) A-2, B-4, C-3, D-1

(b) A-2, B-3, C-4, D-1

(c) A-4, B-3, C-1, D-2

(d) A-4, B-1, C-3, D-2

(e) A-3, B-1, C-4, D-2

S12. Ans.(c)

Sol. In 1865, Allahabad Bank was founded at the confluence city of Allahabad by a group of Europeans. Oriental Bank of Commerce- 1943, PNB- 1894, UCO Bank- 1843.

Q13. A scheduled bank is the one which is included in the-

(a) II Schedule of Banking Regulation Act

(b) II Schedule of Constitution

(c) II Schedule of RBI Act

(d) All of the above

(e) None of the given options is true

S13. Ans.(c)

Sol. A scheduled bank is the one which is included in the II Schedule of RBI Act, 1934.

Q14. What is the animal of the insignia of the RBI?

(a) Lion

(b) Tiger

(c) Panther

(d) Elephant

(e) Horse

S14. Ans.(b)

Sol. The emblem of Reserve Bank of India has Royal Bengal tiger standing in front of a palm tree. 

Q15. Which of the following Indian Banks is not a Nationalised Bank?

(a) Corporation Bank

(b) Dena Bank

(c) Federal Bank

(d) Vijaya Bank

(e) Oriental Bank of Commerce

S15. Ans.(c)

Sol. The Federal Bank Limited is a major private sector commercial bank headquartered at Aluva, Kochi, Kerala.