Banking Awareness Quiz for Bank Exams 2021- 5th May

Q1.Banking sector comes under which of the following sectors?
(a)Service sector
(b)Industrial sector
(c)Manufacturing sector
(d)All of the above
(e)None of these

Q2. What are functions of a bank?
(a)Accepting of deposits
(b)Granting of loans and advances
(c)Transfer of Funds
(d)Risk Management
(e)All of the above

Q3. Deposits accepted by Commercial Bank are?
(a)Saving Deposit
(b)Demand Deposit
(c)Time Deposit
(d)All of the above
(e)None of these

Q4. What types of loan is advanced by Commercial Bank?
(a)Loan & Advances
(b)Cash Credit
(c)Overdraft
(d)All of the above
(e)None of these

Q5. Which of the following is not a function of a Bank?
(a)To supply input to farmers
(b)To waive loans
(c)To grant advances
(d)To accept deposits
(e)None of these

Q6. Which body is responsible to regulate the functioning of all Banks in India?
(a)Reserve Bank of India
(b)State Bank of India
(c)Government of India
(d)Ministry of Finance
(e)None of these

Q7.Which among the following is not a function of Regional Rural Banks (RRBs)?
(a)Provide banking assistance to semi-urban areas
(b)Disbursement of wages of MGNREGA workers
(c)RRBs have been set up for better banking facilities to rural people
(d)All of the above
(e)None of the above

Q8. Which of these is not a function of Public Sector Banks?
(a)Transferring Money
(b)Opening Bank Accounts
(c)Lending Money to people in the form of Loan
(d)Issuing currency
(e)None of these

Q9. Commercial banks provide locker facilities to its customers for safe keeping of?
(a)Shares
(b)Jewelry
(c)Debentures
(d)Valuable Items
(e)All of the above

Q10. A form of financing that allows the current account holders to overdraw the account up to a specified limit called?
(a)Bank Account
(b)Bank Deposit
(c)Bank Overdraft
(d)Bank Loan
(e)None of these

Practice More Questions of Banking Awareness for Competitive Exams:

Solutions

S1.Ans.(a)
Sol.The Service Sector, also called the tertiary sector, is the third of the three traditional economic sectors.

S2.Ans.(e)
Sol.Functions of banks are Accepting of deposits, Granting of loans and advances, Transfer of Funds, Risk Management.

S3.Ans.(d)
Sol.The bank usually takes a deposit from the public as Time deposit, Demand Deposit & Saving deposit.

S4.Ans.(d)
Sol.Loan is advanced by Commercial Bank in the form of Cash Credit, Loan & Advances & Overdraft.

S5.Ans.(a)
Sol.To supply input to farmers is not a function of a Bank.

S6.Ans.(a)
Sol. The body which is responsible to regulate the functioning of all Banks in India is RBI.

S7.Ans.(e)
Sol. The Regional Rural Banks (RRBs) aimed at providing credit and other facilities to the small and marginal farmers, agricultural labourers, artisans and small entrepreneurs in rural areas.

S8.Ans.(d)
Sol.Function of Public Sector Banks is Transferring Money, Opening Bank Accounts, Lending Money to people in the form of Loan, letting customers open up lockers but not issuing currency.

S9.Ans.(e)
Sol.Commercial banks provide locker facilities to its customers for safe keeping of Jewelry, Shares, Debentures and Valuable Items.

S10.Ans.(c)
Sol.A Bank Overdraft is a form of financing that allows the current account holders to overdraw the account up to a specified limit.