Most Important Questions on Banking System in India
1. Which banking system provides short-term and long-term loans to the industries?
(a) Investment banking system
(b) Mixed banking system
(c) Group banking system
(d) Chain banking system
Answer B
2. Non-Banking Financial Companies (NBFCs) in India were established under:
(a) Companies Act 2015
(b) Companies Act 1956
(c) Banking Regulation Act 1949
(d) Banking regulation act 1952
Answer B
3. Banking system functions in India are controlled by the______.
(a) State Bank of India
(b) Prime Minister of India
(c) President of India
(d) Reserve Bank of India
Answer D
4. Which among the following forms part of Shadow Banking in India?
(a) Business correspondents
(b) Bank assurance providers
(c) Non-Banking Financial Companies
(d) None of the above
Answer C
5. With reference to the institution of Banking Ombudsman in India, which one of the statements is not correct ?
(a) The Banking Ombudsman is appointed by the Reserve Bank of India
(b) The Banking Ombudsman can consider complaints from Non-Resident Indians having accounts in India
(c) The orders passed by the Banking Ombudsman, are final and binding on the parties concerned
(d) The service provided by the Banking Ombudsman is free of any fee
Answer C
6. Which committee recommended the setting up of Small Finance Banks in India?
(a) Bimal Jalan committee
(b) Nachiket Mor committee
(c) Urjit Patel committee
(d) Abhijit Sen Committee
Answer B
7. Which of the following is false regarding payments banks?
(a) All the payments banks will be licensed under Section 22 of the Banking Regulation Act, 1949
(b) Can offer debit and credit cards, internet, and mobile banking facilities
(c) Cannot undertake lending activities
(d) Cannot accept large deposits
Answer B
8. In India, how many banks were nationalized during the Second Round of Nationalization in 1980?
(a) 7 Banks
(b) 6 Banks
(c) 8 Banks
(d) 5 Banks
Answer B
9. Scheduled Banks in India are classified under which of the following acts?
(a) Reserve Bank of India Act, 1934
(b) Banking Regulation Act, 1949
(c) The Subsidiary Banks General Regulation, 1959
(d) The Regional Rural Banks Act, 1976
Answer A
10. In India the interest rate on savings bank accounts in all nationalized commercial banks is fixed by
(a) Union Ministry of Finance
(b) Union Finance Commission
(c) Reserve Bank of India
(d) All the banks decide individually
Answer D
11. Which of the following banks in India has the maximum number of branches and ATMs in India?
(a) IDBI Bank
(b) Punjab National Bank
(c) ICICI Bank
(d) State Bank of India
Answer D
12. Which of the following banks' prints the currency notes in India?
(a) Reserve Bank of India
(b) NABARD
(c) ICICI Bank
(d) State Bank of India
Answer A
13. India has different categories of Commercial banks. Which of the following is not one such category?
(a) Private Banks
(b) Commodity Banks
(c) Public Sector Banks
(d) Co-operative Banks
Answer B
14. Which of the following statements is not correct regarding Payment Banks in India?
(a) Payment Bank were set up on the recommendation of Usha Thorat Committee
(b) Minimum paid up capital for payment banks is Rs 100 crore
(c) Payment Banks cannot issue loans and credit cards.
(d) Payment Banks also offer services like ATM cards, debit cards, net-banking and mobile-banking
Answer A
15. For which groups of banks, the Reserve Bank of India (RBI) released Cyber Security Vision Framework?
(a) Urban Cooperative Banks (UCBs)
(b) Payments Banks
(c) Small Finance Banks
(d) Regional Rural Banks
Answer A
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