Banking Awareness Quiz 2016 – Set 6

Hello and welcome to ExamPundit. Here is the 6th Set of Banking Awareness Quiz 2016.

1. The Retirement
fund body EPFO has made UAN mandatory for all employers covered under its
purview. Expand the term UAN.
1) Unique Account Number
2) Unique Access Number
3) Universal Account Number
4) Universal Access Number
5) None of these
2. If the RBI
increases reverse repo rate, consequently
1) banks will have less money to lend
2) banks will have more money to lend
3) banks will decrease interest rates
4) liquidity in the economy will increase
5) None of these
3. The banks now
allow minors above 10 years to independently open and operate savings bank
accounts. These minors cannot avail which
of the following services?
1) Internet banking
2) ATM
3) Debit card
4) Cheque book
5) None of these
4. In case of ‘small
accounts’ opened with banks, total credits in one year should not exceed
1) Rs.25,000
2) Rs.50,000
3) Rs.75,000
4) Rs.1,00,000
5) Rs.2,00,000
5. Which of the
following is the mildest form of inflation in which prices rise by not more
than 3 per cent
per annum?
1) Walking inflation
2) Creeping inflation
3) Running inflation
4) Hyper inflation
5) None of these
6. Which of the
following does NOT come under the RBI’s qualitative measure of credit control?
1) Moral Suasion
2) SLR
3) CRR
4) Open Market Operations
5) Bank Rate
7. Which of the
following banks introduced Internet banking in India for the first time?
1) State Bank of India
2) ICICI Bank
3) HDFC Bank
4) Axis Bank
5) Bank of Baroda
8. There are two
parts of banks’ balance sheet – assets and liabilities. The assets, everything
that the
bank owns or is owed, does
not include
1) cash in its vaults
2) bank branch buildings
3) govt bonds
4) loans made by the bank
5) None of these
9. In the field of
banking, which of the following transactions done through a mobile device will
termed as mobile banking?
1) Loan application
2) Cheque book request
3) Balance inquiry
4) Fund transfer
5) All the above
10. An interest rate
that is allowed to move up and down with the rest of the market or along with
index over the duration of the
debt obligation is called
1) fixed interest rate
2) floating interest rate
3) forward interest rate
4) future interest rate
5) functional interest rate

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