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Banking Awareness for SBI / IBPS

2 months ago 0 comments

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Dear Aspirants,

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. MICR code is used for ________.

1) For Code Banking Solution
2) For Electronic Funds Transfer
3) For Electronic Clearance of Cheques
4) For Cheque Truncation Services
5) None of these

2. The Statutory Liquidity Ratio (SLR), the amount of liquid assets such as cash, precious metals and other short-term securities are kept with _______.

1) RBI
2) Individual banks
3) SBI
4) Finance Ministry
5) None of these

3. As per the Banking Ombudsman Scheme, any person can file a complaint before the Banking Ombudsman, if the satisfied reply is not received from the bank within a period of _________.

1) 6 months
2) 3 months
3) 2 months
4) 1 month
5) 1 year

4. Money lent for more than one day but less than 15 days in the money market is known as _______.

1) Notice Money
2) Call Money
3) Term Money
4) Week Money
5) None of these

5. Smart Money is a term used for ________.

1) Internet Banking
2) Credit Card
3) Mobile Apps
4) Demand Drafts of Banks
5) None of these

6. The Indian Financial System Code (IFS Code) is an alphanumeric code that uniquely identifies a bank-branch participating in the two main Electronic Funds Settlement Systems in India. IFSC code consists of how many alphanumeric codes?

1) 10
2) 11
3) 9
4) 12
5) 8

7. Which among the following committee constituted on Payment Banks license?

1) Dr. Nachiket Mor
2) Deepak Mohanty
3) A C Shan
4) B D Thakar
5) None of these

8. SARFAESI Act 2002 related to _________.

1) Acquisition of small banks
2) Fixation of interest rates
3) Recovery of bad loans
4) Regulation of foreign exchange
5) None of these

9. NDTL stands for _______.

1) Net Demand and Term Liability
2) Net Demand and Time Liquidity
3) Net Demand and Trade Liquidity
4) Net Demand and Time Liability
5) None of these

10. Magnetic Ink Character Recognition (MICR) is a 9 digits code is used mainly by the banking industry to ease the processing and clearance of cheques and other documents. The first three digits represent the

1) Bank
2) City
3) State
4) Branch
5) None of these

Answers:
  1. 3
  2. 2
  3. 4
  4. 1
  5. 2
  6. 2
  7. 1
  8. 3
  9. 4
  10. 2

 

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