Banking Awareness Quiz for Bank Exam: 13-July-2020

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 13th July 2020 covering the following topics: BCSBI, Currency system, Dalal Street, E-banking software.

Q1. BCSBI was set up to ensure that the common person as a consumer of financial services from the banking Industry is in no way at a disadvantageous position and really gets what he/she has been promised. BCSBI stands for-?
(a) Branch Codes and Standards Board of India
(b) Banking Codes and Stability Board of India
(c) Banking Codes and Standards Bank of Industry
(d) Banking Codes and Society Board of Investment
(e) Banking Codes and Standards Board of India

Q2. When was the currency system in India converted into decimal system?
(a) April 01st 1959
(b) April 01st 1957
(c) April 01st 1955
(d) April 01st 1953
(e) April 01st 1951

Q3. Which of the following field Dalal Street in Mumbai is famous?
(a) NABARD
(b) Stock Exchange
(c) RBI
(d) SEBI
(e) Ministry of Commerce and Industry

Q4. Deposits which can be withdrawn by a customer without notice is called?
(a) Time Deposits
(b) Demand Deposits
(c) Variable Deposits
(d) Low cost Deposits
(e) None of the given options is true

Q5. Which of the following is not e-banking software?
(a) ECS
(b) RTGS
(c) PIPS
(d) NEFT
(e) M-Banking

Solutions

S1. Ans.(e)
Sol. In November 2003, Reserve Bank of India (RBI) constituted the Committee on Procedures and Performance Audit of Public Services under the Chairmanship of Shri S.S.Tarapore (former Deputy Governor) to address the issues relating to availability of adequate banking services to the common person. Therefore, the Committee recommended setting up of the Banking Codes and Standards Board of India (BCSBI). BCSBI was set up to ensure that the common person as a consumer of financial services from the banking Industry is in no way at a disadvantageous position and really gets what he/she has been promised.

S2. Ans.(b)
Sol. The Indian currency system was converted into decimal system by Indian Coinage (Amendment) Act 1955 which brought into force from April 01st 1957.

S3. Ans.(b)
Sol. The Bombay Stock Exchange (BSE) is located at Dalal Street.

S4. Ans.(b)
Sol. A deposit of money that can be withdrawn without prior notice is known as Demand Deposits, Ex:- in a current account.

S5. Ans.(c)
Sol. ECS – Electronic Clearing Service.
RTGS – Real Time Gross Settlement.
NEFT- National Electronics Funds Transfer System.
Mobile banking is a service provided by a bank or other financial institution that allows its customers to conduct financial transactions remotely using a mobile.
PIPS is not an e-banking software.

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