Banking Awareness MCQs for Banking exams, IBPS, SBI

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Each section contains 100 MCQs on Banking Awareness miscellaneous .

Ultimate controller of Bank Deposits is?

A) RBI B) Finance Secretary C) Ministry of Finance D) Controller of Deposits

Discuss

Answer & Solution

Answer: Option A

No explanation is given for this question. Let's Discuss on Board

Which among the following accounts deposit fetch the highest rate of interest?

A) Savings deposit B) Recurring deposit C) Fixed deposit D) Current account deposit

Discuss

Answer & Solution

Answer: Option C

No explanation is given for this question. Let's Discuss on Board

Banks usually collect penal rate of interest on ____ for the premature withdrawal of fixed deposits?

A) Principal B) Rate of interest C) Minimum deposit amount D) Maturity amount

Discuss

Answer & Solution

Answer: Option B

No explanation is given for this question. Let's Discuss on Board

Fixed deposits can have

A) Nomination facility B) Nomination facility with the permission of Bank Chairman C) Nomination facility by taking special permission from bank D) Nomination facility on the day of closing

Discuss

Answer & Solution

Answer: Option A

No explanation is given for this question. Let's Discuss on Board

As per the direction of RBI on 29 October 2013, the banks can pay rate of interest on Fixed deposits'?

A) At intervals shorter than quarterly intervals also B) Pay on quarterly basis alone C) On half yearly basis only D) As per the direction of government of India

Discuss

Answer & Solution

Answer: Option A

No explanation is given for this question. Let's Discuss on Board

Idea of insuring deposits kept with banks received attention for the first time in the year 1948 after the banking crises in?

A) Maharashtra B) Karnataka C) AP D) Bengal

Discuss

Answer & Solution

Answer: Option D

No explanation is given for this question. Let's Discuss on Board

Which committee first time in India supported the concept of Insuring Deposits?

A) Rural Banking Deposit Committee B) Urban Banking Enquiry Committee C) Rural Banking Enquiry Committee D) SBI Rural Banking Enquiry Committee

Discuss

Answer & Solution

Answer: Option C

No explanation is given for this question. Let's Discuss on Board

The Deposit Insurance Act came in to force in on 1st January

A) 1954 B) 1948 C) 1979 D) 1962

Discuss

Answer & Solution

Answer: Option D

No explanation is given for this question. Let's Discuss on Board

Each depositor in a bank is insured up to a maximum of ....... by Deposit Insurance and Credit Guarantee Corporation (DICGC)?

A) Rs. 2 lakh B) Rs.3 lakh C) Rs.5 lakh D) Rs.1 lakh

Discuss

Answer & Solution

Answer: Option D

No explanation is given for this question. Let's Discuss on Board

DICGC is the wholly owned subsidiary of?

A) SBI B) NABARD C) Union Government D) RBI

Discuss

Answer & Solution

Answer: Option D

No explanation is given for this question. Let's Discuss on Board

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