In every banking examinations, Banking Awareness section plays a pivotal role in scoring good marks in the section. It is very relevant for all the examinations. So, we at Bsc4success are providing important Banking Awareness MCQs on the daily basis, which will certainly aid your preparation. Make most of it.
1. National Financial Switch is the largest network of shared automated teller machines in India. It was designed, developed and deployed by the Institute for Development and Research in Banking Technology in 2004, with the goal of inter-connecting the ATMs in the country and facilitating convenience banking. It is run by –
5. None of these
2. FSDC is an apex-level body constituted by the government of India, to strengthen and institutionalise the mechanism of maintaining financial sector development, inter-regulatory coordination along with monitoring macro-prudential regulation of economy. What does ‘S’ stand for in the term ‘FSDC’?
3. Choose the correct statement :
1. A Nostro Account is account of our money, held by the other bank.
2. A Vostro account will be in foreign currency.
3. A Nostro account will be in the local currency of the bank where the money is being held.
4. A Nostro Account is account of other bank money, held by us.
5. Vostro accounts are mostly commonly used for currency settlement.
4. Global Competitive Index is published by –
2. World Bank
3. World Economic Forum
4. Asian Development Bank
5. None of these
5. The United Nations Development Programme (UNDP) is the United Nations’ global development network which advocates the change and connects countries to knowledge, experience and resources to help people build a better life. UNDP is headquartered in –
1. New York
6. National Financial Reporting Authority (NFRA) is a body proposed for the establishment and enforcement of accounting and auditing standards and oversight of the work of auditors. It comes under –
1. Companies Act, 2013
2. Banking Regulation Act, 1949
3. Reserve Bank of India Act, 1934
4. Income Tax Act, 1961
5. Prevention of Corruption Act, 1988
7. As per the World Bank, the Indian economy has projected to grow at what rate in 2019-20?
8. Choose the Correct Statement :
1. SENSEX, also called the BSE 30 is a free-float market-weighted stock market index of 30 well-established and financially sound companies listed on Bombay Stock Exchange.
2. NIFTY is National Stock Exchange of India’s benchmark broad based stock market index for the Indian equity market.
3. Nifty represents the weighted average of 50 Indian company stocks in 12 sectors and is one of the two main stock indices used in India.
4. None of the above.
5. All of the above.
9. Which of the following best describe(s) the term ‘Hypothecation’?
1. Hypothecation occurs when an asset is pledged as collateral.
2. The lender can seize the asset if the terms of the agreement are not met.
3. Hypothecation secures a loan, without giving up title, possession or ownership rights.
4. All of the above.
5. None of these.
10. OLTAS is an initiative of Income Tax Department to receive information and maintain records of tax paid through banks. The full form of ‘OLTAS’ is –
1. Online Tax Assessment System
2. Offline Tax Accounting System
3. Online Tax Assessment Service
4. Offline Tax Accounting Service
5. Online Tax Accounting System