Banking Awareness quiz for Bank Exam

The Banking Awareness section constitutes a major part of a competitive examination and needs your undivided attention. 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 or Insurance Recruitment.

To complement your preparation for General Awareness section of the upcoming exams like SBI Clerk Mains and RBI Assistant Mains we are providing you Banking Awareness Quiz of 11th May 2020 covering the following topics: Market Regulator, RBI, Notes, Banking Sector.

Q1. Which of the following organisations is known as the market regulator in India?
(a) IBA
(b) SEBI
(c) AMFI
(d) NSDL
(e) None of the above

Q2. The Holidays for the Banks are declared as per _________.
(a) Reserve Bank Act
(b) Banking Regulation Act
(c) Negotiable Instruments Act
(d) Securities and Exchange Board of India Act
(e) Companies Act

Q3. Which of the following is not a function of the RBI?
(a) Maintaining Forex
(b) Deciding Bank Rate, CRR and SLR from time to time
(c) Opening Savings Accounts for general public
(d) Prescribing the Capital Adequancy Ratio
(e) Currency Management

Q4. Ten-rupee notes contain the signature of ______________.
(a) Finance Secretary, GOI
(b) Chairman, State Bank of India
(c) Governor, Reserve Bank of India
(d) Finance Minister, GOI
(e) Prime Minister

Q5. Banking Sector will fall under which of the following?
(a) Agricultural Sector
(b) Service Sector
(c) Manufacturing Sector
(d) Industrial Sector
(e) None of the above

Solutions

S1. Ans.(b)
Sol. The Securities and Exchange Board of India is the regulator of the securities and commodity market in India owned by the Government of India. It was established in 1988 and given Statutory Powers on 30 January 1992 through the SEBI Act, 1992.

S2. Ans.(c)
Sol. The bank holidays are declared by central/state governments/union territories under the Negotiable Instruments (NI) Act, 1881.

S3. Ans.(c)
Sol. Opening Savings Accounts for general public is not a function of the Reserve Bank of India.

S4. Ans.(c)
Sol. The ?10 banknote of the Mahatma Gandhi Series is 137 × 63 mm Orange-violet coloured, with the obverse side featuring a portrait of Mahatma Gandhi with a signature of the governor of Reserve Bank of India.

S5. Ans.(b)
Sol. The banking sector is an industry and a section of the economy devoted to the holding of financial assets for others and investing those financial assets as a leveraged way to create more wealth. It will fall under Service Sector.

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