The Reserve Bank of India is the ______of the country

Central bank
Nationalized Bank
Government Bank
Commercial Bank

The Reserve Bank of India was set up on the basis of the recommendations of the________
Hilton Young Commission
Tandon Committee

The Reserve Bank of India Act, enacted in the year_______

1932
1933
1934
1935

The Reserve Bank of India commenced operations on

April 1, 1934
April 1, 1935
April 1, 1936
April 1, 1937

Who was the predecessor of RBI?

Imperial Bank of India

Who was the first Governor of the Reserve Bank of India?

Sir Osborne Smith
Sir James Braid Taylor
Sir C. D. Deshmukh
Sir Benegal Rama Rau

The Reserve Bank of India was nationalized in the year

1947
1948
1949
1950

Which Act/Regulation formed the statutory basis of bank supervision and regulation in
India?
Banking Regulation Act, 1949
The Reserve Bank of India Act, 1934
The Companies Act, 1913
Public Debt Act, 1944
Scheduled banks required to maintain the Cash Reserve Ratio with_____
Bank itself
Revenue Department
RBI
SBI

In which year fiat money introduced officially in India?

1938
1939
1940
1941

Imperial Bank of India converted to a state owned institution. The name of the Bank
is______
State Bank of India
State Bank of Travancore
State Bank of Hydrabad
State Bank of Indore

In which year the state Bank of India was Established?

1947
1950
1955
1960

State Bank of India (Subsidiary Banks) Act enacted in the year___

1947
1950
1959
1960

Unit Trust of India established in the year______

1950
1956
1959
1964

IDBI established in the year_______

1950
1956
1959
1964
National Institute of Bank Management (NIBM) established in the year
1950
1955
1960
1969

How many number of Indian Scheduled Commercial Banks nationalized through Banking
Companies (Acquisition and Transfer of Undertakings) Act, 1970.
10
12
14
19

Credit Guarantee Corporation of India Ltd. Established in the year

1964
1969
1970
1971

Industrial Reconstruction Corporation of India Ltd

1964
1969
1970
1971

Foreign Exchange Regulation Act, enacted in the year

1973
1974
1975
1976

Foreign Exchange Regulation Act, came into force in _______ to conserve foreign exchange.
01 Jan 1973
01 Jan 1974
01 Jan 1975
01 Jan 1976

The Deposit Insurance and Credit Guarantee Corporation (DICGC) formed in the year__
1975
1976
1978
1980
Export Import Bank of India established in the year_____with the objective of providing
comprehensive package of financial and allied services to exporters and importers.
1980
1981
1982
1983

National Bank for Agriculture and Rural Development Act, passed in the year
1979
1980
1981
1982

National Bank for Agriculture and Rural Development (NABARD) established in the year__
1980
1981
1982
1983

Board for Industrial and Financial Reconstruction set up in the year

1985
1986
1987
1988

Security & Exchange Board of India (SEBI) established in the year______

1986
1988
1990
1992

The Discount and Finance House of India, set up in the year______

1986
1988
1990
1992

The National Housing Bank established in the year______as an apex body of housing finance
and to promote activities in housing development.
1986
1988
1990
1992
Stock Holding Corporation of India Ltd. (SHCIL) a depository institution commenced
operations from_____
1986
1988
1990
1992

Which of the following is not presently the subsidiary of RBI?

Deposit Insurance and Credit Guarantee Corporation of India (DICGC),
Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL),
Reserve Bank Information Technology Private Limited (ReBIT),
Industrial Development Bank of India (IDBI)

It was the first joint-stock bank of British India sponsored by the Government of Bengal.
The Bank of Bengal
The Bank of Madras
The Bank of Hydrabad
The Bank of Travancore

Bank of Bengal, Bank of Bombay and __________ was the three Presidency Banks in India
established during British raj.
Bank of Maharashtra
Bank of Madras
Bank of Jaipur
Bank of Travancore
Banking cards offer consumers more security, convenience, and control than any other payment
method. Banking Card does not include:
Credit Card
Debit Card
Prepaid Card
ATM Card

Payment cards give people the power to purchase items:

In stores
On the Internet
Through mail-order catalogues
All of the above

Each Bank provides its own UPI App for Android, Windows and iOS mobile platform(s). UPI Stands
for:
Unified Payments Interface
Universal Payments Interface
United Payments Interface
Unified Payments Interchange

A way to carry cash in digital format:

Mobile wallet
Payment app
Internet Banking
ATM Card

Paytm, Airtel Money, Jio Money, SBI Buddy all are example of:
Mobile Banking
Mobile wallet
Payment app
Internet Banking

The Handheld Device with card or bio-metric reader:

ATM Machine
PoS Machine
Smartphone
Bio-metric reader Machine

An electronic payment system offers through the financial institution's website:

Online banking
E-banking
Virtual banking
All of the above

NEFT is a nation-wide payment system that facilitating one-to-one funds transfer. NEFT Stands for:
National Electronic Funds Transfer
Nation Electronic Funds Transfer
National Electronic Funds Transmission
National E-Funds Transfer
RTGS is a system through which the real-time settlement of funds transfers individually on an order
by order basis. RTGS Stands for
Real Time Gross Settlement
Real Time Group Settlement
Real Time Gross System
Real Time Gap Settlement

ECS is an alternative method for effecting payment transactions in respect of the utility-bill-payments:
ECS Stands for:
Electronic Cheque System
Electronic Clearing System
Electronic Clear System
Electronic Clearing Standard

IMPS are a system used for an instant interbank electronic fund transfer service through mobile
phones: IMPS stands for:
Instant Payment Service
Immediate Payment Standard
Instant Payment Standard
Immediate Payment Service

A device that is used by Business Correspondents (BC) to deliver basic banking services for instant transaction:
Micro ATM
POS Machine
Paytm Box
ATM Card

The process of managing the sales ledger of a client by a financial service company is called

a. Forfeiting
b. Factoring
c. Leasing
d. Securitization of debt

The important goal of the financial service industry is to mobilize and allocate .
a. saving
b. sales
c. purchase
d. all of the above

Syndication is a kind of consortium advance.

a. Profit
b. Sales
c. Loan
d. Capital
IDBI was established in .
a. 1954
b. 1944
c. 1964
d. 1974

IDBI is a wholly owned subsidiary of

a. LIC
b. GIC
c. RBI
d. SBI

SIDBI was established in .

a. 1990
b. 1991
c. 1992
d. 1993

NABARD was established in .

a. 1992
b. 1962
c. 1982
d. 1993

This type of banking ensures direct transaction between a bank and its customers without
intervention of any third party
a. Retail banking
b. Online banking
c. Merchant banking
d. Offshore banking

The maximum amount of money that can be insured in case of a person holding money at
different branches of a bank is
a. Rs 25000
b. Rs 50000
c. Rs 1 lakh
d. Rs 10 lakhs

What is the full form of “EMI” frequently used term in banking operations?
a. Equal Monthly Interest
b. Equated Money Instalment
c. Equated Monthly Interest
d. Equated Monthly Instalment
‘Relationships beyond Banking’ is the tagline of which among the following banks?
a. Syndicate Bank
b. Indian Overseas Bank
c. Canara Bank
d. Bank of India
What is the minimum Capital Adequacy ratio to be maintained by small finance banks in
India?
a. 10%
b. 12%
c. 15%
d. 20%

Which of the following is the rate charged by the central bank for lending funds to a
commercial bank?
a. Term rate
b. Bank rate
c. Note rate
d. Supply rate

In context of BASEL III Accords, what does LCR stands for______.

a. Liberalized capital rate
b. Liberalized Currency ratio
c. Low Capital Region
d. Liquidity Coverage ratio

Which of the following committee recommended the formation of ‘Payments Bank’ in

India?
a. Nalin Mehta
b. B Sivaraman
c. Urjit Patel
d. Nachiket Mor

Cash Reserve Ratio is maintained as a percentage of which of the following measures?

a. Adjusted Net Bank Credit
b. Off-Balance Sheet Exposure
c. Net Capital Reserve
d. Net Demand and Time Liability

Which among the following services cannot be provided through Micro ATMs?
a. Balance Enquiry
b. Funds Transfer
c. Cash Withdrawal
d. Lending Loans
e. Cash Deposit

Which of the following is not one of the quantitative measures of credit control used by
Reserve Bank of India?
a. SLR
b. CRR
c. Bank rate Policy
d. Moral Suasion
Which of the following authorities appoint Banking Ombudsman?
a. Ministry of Finance, Government of India
b. Individual Commercial Banks
c. Reserve Bank of India
d. Indian Banks' Association

In which of the following payment system(s) is the user required to provide Indian Financial
System Code (IFSC) during transactions?
a. Real Time Gross Settlement
b. National Electronic Funds Transfer
c. Credit card and Debit card transactions
d. Both A & B

ECS is an electronic mode of payment / receipt for transactions that are repetitive and
periodic in nature. ‘C’ in ECS stands for?
a. Corporate
b. Company
c. Customer
d. Clearing

The first bank in India was started in the year

a. 1825
b. 1786
c. 1912
d. None of these

Regional rural banks are sponsored by

a. Foreign exchange banks
b. Nationalized banks
c. Industrial banks
d. None of these

During the time of inflation , central bank ........................ the bank rates.
a. Decrease
b. Increase
c. Doubles
d. none of these

Which is the qualitative credit control mechanism

a. Credit rationing
b. Open market operations
c. Bank rate policy
d. None of these
The first bank of India
a. RBI
b. SBI
c. General Bank of India
d. None of these

When a bank sells insurance products, it is called

1. Lead banking
2. Banc assurance
3. Credit rationing
4. None of these

Banking regulation Act was passed in the year

a. 1956
b. 1972
c. 1949
d. 1932

The first nationalization of banks in India in the year

a. 1969
b. 1980
c. 1991
d. None of these

Fixed deposits are also called

a. Demand deposits
b. Term deposits
c. Recurring deposits d.
d. None ofthese

Which deposit offered the highest rate of interest?

a. Savings
b. Current
c. Recurring
d. Fixed

In Core banking, CORE stands for

a. Commercial Online Real time Electronic Banking
b. Centralized Online Real time Electronic Banking
c. Cashless Online Real time Electronic Banking
d. None of these

The first Women bank in India

a. RRB
b. BMS
c. LAB
d. None of these
 is called the purchase and sale of government securities in the
open market by
central bank.
a. Open market operation
b. Clearing
c. Securitization
d. none ofthese

is a form of bank governance that occurs when a small group of

people control three or more banks that are independently incorporated.
a. Unit banking
b. Branch banking
c. Group banking
d. Chain banking

The combination of investment banking and commercial banking is called

a. Group banking
b. Unit banking
c. Mixed banking
d. none of these

means allowing the borrower to overdraw his current balance

a. Cash credit
b. Loans
c. Overdraft
d. Consumer credit

is a bank located outside the country of residence of the depositor

a. Off-shore bank
b. Unit bank
c. Foreign bank
d. none of these

Capital Adequacy Ratio is the ratio of Bank’s capital to it’s

a. Fixed assets
b. Current assets
c. Risk assets
d. none of these

Commercial banks to expand deposit through expanding their loans and advances is
known as
a. Credit creation
b. Trade discount
c. Deposit
d. Bank advances
 “Buy now and Pay later” is the motto of
a. ATM
b. Debit card
c. credit card
d. MICR

FIRPS stands for

a. Foreign inward Remittance Payment Scheme
b. Foreign Investment Remittance Payment Scheme
c. Foreign inward Remittance Payment system
d. Foreign Investment Remittance Payment System

MICR is a digit code.

a. 9
b. 11
c. 7
d. 13

is an asset which does not disclose any problem in terms of repayment.

a. Doubtful asset
b. Sub-standard assets
c. Loss asset
d. Standard assets

is a quasi judicial authority appointed by the RBI to redress

customer complaints against certain deficiency in banking services
a. Banking Ombudsman
b. Consumer redressel
c. Adjudicating authority
d. None of these

SLR stands for

a. Statutory Liquidity Ratio
b. Statutory Leverage Ratio
c. Solvency LiquidityRatio
d. none of these

is the rate at which RBI provides short term loans to commercial banks
a. Bank rate
b. PLR
c. Repo rate
d. Reverse Repo rate

The Banking Ombudsman Scheme was introduced by

a. RRB
b. SBI
c. RBI
d. none of these
If the loan remains overdue for more than 90 days, it is treated as
a. NBA
b. NPA
c. PA
d. None of these

CAR stands for

a. Capital Asset Ratio
b. Current Asset Ratio
c. Capital Adequacy Ratio
d. None of these

In deposit, there is no restriction regarding the number and amount

ofwithdrawals
a. Savings
b. Current
c. Fixed
d. Recurring

When the customer is a depositor, banker is a

a. Debtor
b. Creditor
c. Principal
d. agent

The validity period of a cheque is .

a. 5 months
b. 6 months’
c. 3 months
d. None of these

The document drawn by a debtor on the credit agreeing to pay a certain sum of money is
called
a. Cheque
b. Demand draft
c. Bill of Exchange
d. Promissory note

When a cheque is specially crossed to more than one banker , it is called

a. Double crossing
b. special crossing
c. general crossing
d. account payee crossing
The cheque which is not presented for payment within reasonable period of time is
called Mutilated cheque
a. stale cheque
b. post dated cheque
c. Anti datedcheque

MICR stands for

a. Micro Ink Character Reader
b. Magnetic Ink Character Reader
c. MinimumInk character Reader
d. None of these

RTGS stands for

a. Real Time Gross Scheme
b. Real Time General Settlement
c . Real TimeGross Settlement
d. None of these

PIN in ATM card stands for

a. Personal Index Number
b. Personal Interaction Number
c. PersonalIdentification Number
d. none of these

EFT was introduced by

a. SBI
b. RBI
c. ICICI
d. None of these

EFT stands for

a. Electronic Fee Transfer
b. Electronic Fund Transfer
c. Electronic Finance Transfer
d. none of these

SWIFT is for .
a. Cheque payment
b. Clearing accounts
c. Communication forFinancial Transactions
d. none of these