General Awareness Quiz for ECGC PO & Bank Mains Exams 2021- 15th January

Q1. Credit can be created by?
(a)RBI
(b)Foreign banks
(c)Commercial banks
(d)Private banks
(e)None

Q2. Banking sector comes under which of the following sectors?
(a)Manufacturing sector
(b)Industrial sector
(c)Service sector
(d)All of the above
(e)None of these

Q3. What are functions of a bank?
(a)Accepting deposits
(b)Granting loans
(c)Economic Development
(d)Risk Management
(e)All of the above

Q4. Deposits accepted by Commercial Bank are?
(a)Demand Deposit
(b)Saving Deposit
(c)Time Deposit
(d)All of the above
(e)None of the above

Q5. What types of loan is advanced by Commercial Bank?
(a)Cash Credit
(b)Loan & Advances
(c)Overdraft
(d)All of the above
(e)None of the above

Q6. Which of the following is not a function of a Bank?
(a)To supply input to farmers
(b)To grant advances
(c)To waive loans
(d)To accept deposits
(e)All of the above

Q7. Which body is responsible to regulate the functioning of all Banks in India?
(a)Government of India
(b)State Bank of India
(c)Reserve Bank of India
(d)Ministry of Finance
(e)Bank Unions

Q8. Which among the following is not a function of Regional Rural Banks?
(a)RRBs have been set up for better banking facilities to rural people
(b)Disbursement of wages of MGNREGA workers
(c)Provide banking assistance to semi-urban areas
(d)All of the above
(e)None of the above

Q9. 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)Letting customers open up lockers
(e)Issuing currency

Q10. Priority Sector Lending guidelines are not applicable to which out of following type of banks?
(a)Cooperative bank
(b)RRB
(c)Foreign banks
(d)Land development bank
(e)None of the above

Q11. All scheduled commercial banks having shortfall in lending to priority sector target/sub shall be allocated amounts for contribution to?
(a)SIDBI
(b)RIDF
(c)MUDRA Bank
(d)any of the above as decided by the RBI from time to time
(e)All of the above

Q12. Refers to kind of deposits that can be easily withdrawn by individuals without any prior notice to the bank?
(a)Savings Deposit
(b)Current Deposits
(c)Current Account Deposits
(d)Fixed Deposits
(e)All of the above

Q13. Commercial banks provide locker facilities to its customers for safe keeping of?
(a)Jewelry
(b)Shares
(c)Debentures
(d)All of the above
(e)None of the above

Q14. An amount of money offered by a bank to a borrower at a defined interest rate for a fixed period?
(a)Bank account
(b)Bank savings
(c)Bank loan
(d)Bank Deposits
(e)None of the above

Q15. 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 overdraft
(c)Bank Deposit
(d)Bank Loan
(e)All of the above

Solutions

S1.Ans.(c)
Sol. Credit can be created by Commercial banks.

S2.Ans.(c)
Sol. The Service Sector, also called the tertiary sector, is the third of the three traditional economic sectors.

S3.Ans.(e)
Sol. Functions of banks are accepting deposits, granting loans, advances, cash, credit, overdraft and discounting of bills.

S4.Ans.(d)
Sol. The bank usually takes a deposit from the public as Time deposit, Demand Deposit & Saving deposit.

S5.Ans.(d)
Sol. Loan is advanced by Commercial Bank in the form of Cash Credit, Loan & Advances & Overdraft.

S6.Ans.(a)
To supply input to farmers is not a function of a Bank.

S7.Ans.(c)
Sol. The body which is responsible to regulate the functioning of all Banks in India is RBI.

S8.Ans.(e)
Sol. Function of Regional Rural Banks is developing the rural economy by providing for the purpose of development of Agriculture, Trade, Commerce, Industry.

S9.Ans.(e)
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 not Issuing currency.

S10.Ans.(e)
Sol. Priority Sector Lending guidelines are applicable to all the following type of banks.

S11.Ans.(d)
Sol. All scheduled commercial banks having shortfall in lending to priority sector target/sub shall be allocated amounts for contribution decided by the RBI from time to time.

S12.Ans.(a)
Sol. Saving deposits that can be easily withdrawn by individuals without any prior notice to the bank

S13.Ans.(d)
Sol. Commercial banks provide locker facilities to its customers for safe keeping of Jewelry, Shares & Debentures.

S14.Ans.(c)
Sol. An amount of money offered by a bank to a borrower at a defined interest rate for a fixed period called Bank Loan.

S15.Ans.(b)
Sol. A bank overdraft is a form of financing that allows the current account holders to overdraw the account up to a specified limit.

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