Banking Awareness Quiz for Bank Exams 2021- 14 April

Q1. In which year second round of Bank Nationalization was done?
(a) 1990
(b) 1980
(c) 1979
(d) 1984
(e) 1974

Q2. Who was the Prime Minister of India when Banking Nationalization was done in 1969?
(a)Jawaharlal Nehru
(b) Rajiv Gandhi
(c) Indira Gandhi
(d)PV Narasimha Rao
(e)None of these

Q3. How many banks were nationalized in the second phase of bank nationalization?
(a)6
(b)7
(c)9
(d)11
(e)8

Q4. How many banks were nationalized in India in the year 1969?
(a)14
(b)15
(c)21
(d)19
(e)None of these

Q5. In which year was The Banking Regulation Act passed in India?
(a)1947
(b)1949
(c)1948
(d)1946
(e)None of these

Q6. Which nationalized bank was merged with Punjab National Bank in 1993?
(a)New Bank of India
(b)Punjab and Sind Bank
(c) Indian Overseas Bank
(d)Ludhiana Bank
(e)None of these

Q7. When was the nationalization of State Bank of India?
(a)1957
(b)1949
(c)1955
(d)1947
(e)1935

Q8. Reserve Bank of India was nationalized on_________.
(a)1 January 1947
(b)1 January, 1948
(c)1 January, 1950
(d)1 January 1949
(e)None of these

Q9. Which of these banks was nationalized in 1969?
(a)United Bank of India
(b)Vijaya Bank
(c)Punjab and Sind Bank
(d)Andhra Bank
(e)None of these

Q10. Why were Banks nationalized in India?
(a) To borrow money from United Kingdom
(b) To follow the IMF guidelines
(c) To give the government more control of credit delivery
(d) To follow the World Bank guidelines
(e)None of these

Solutions

S1.Ans(b)
Sol. In April 1980, the second phase of nationalization came into effect and 6 more banks were nationalized.

S2.Ans(c)
Sol. Indira Gandhi was the Prime Minister of India when Banking Nationalization was done in 1969. 14 banks were nationalized on July 19, 1969.

S3.Ans(a)
Sol. In April 1980, the second phase of nationalization came into effect and 6 more banks were nationalized.

S4.Ans(a)
Sol. 14 banks were nationalized on July 19, 1969. Indira Gandhi was the Prime Minister of India when Banking Nationalization was done in 1969.

S5.Ans(b)
Sol. The Banking Regulation Act has been passed in India in 1949.

S6.Ans(a)
Sol. The Government of India nationalized New Bank of India in 1980. Punjab National Bank acquired New Bank of India in 1993.

S7.Ans(c)
Sol. The Government of India nationalized the Imperial Bank of India in the year 1955 with the Reserve Bank of India taking a 60% stake and name was changed to State Bank of India.

S8.Ans(d)
Sol. The Reserve Bank of India was nationalized with effect from 1st January, 1949 on the basis of the Reserve Bank of India Act, 1948.

S9.Ans(a)
Sol. United Bank of India was nationalized in 1969. Total 14 banks were nationalized on July 19, 1969.

S10.Ans(c)
Sol. Banks were nationalized to give the government of India more control of credit delivery.

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