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Top Banking GK Questions by Online IBPS Classes

In order to guide students to successfully face the Banking Awareness Questions seen in the General Knowledge section of SBI & IBPS PO / Clerk exams, experts from Vidya Guru have compiled the Quiz given below. Being a student who is desirous of landing a job in a PSU bank, you should attempt this quiz carefully and memorize the associated details.

Being the Centre for Best Online Bank Coaching Classes & Govt. Job Preparation, we publish excellent video lectures on our YouTube channel. Moreover, we make special efforts to deliver these video lectures in Complete English as well as Bilingual (Hindi + English) mediums to ensure that all students can be benefitted by the training provided by our faculty.

Banking Awareness Quiz
Question 1) The Finance Ministry has recently released the 12th installment of Rs. ______ crore to states to cover the shortfall in GST compensation.
A) 5000 crore
B) 6000 crore
C) 4000 crore
D) 3000 crore
E) 2000 crore

Answer – B) 6000 crore
Explanation:
The Finance Ministry has recently released the 12th installment of Rs. 6000 Cr. to states to meet the GST compensation shortfall.

Question 2) Which of the following banks partnered with NPCI to offer real time cross border remittances?
A) Kotak Bank
B) HDFC Bank
C) IndusInd Bank
D) Union Bank of India(UBI)
E) ICICI Bank

Answer – C) IndusInd Bank
Explanation:
IndusInd Bank partnered with NPCI to offer real time cross border remittances.

Question 3) Which of the following banks partnered with CSC SPV to offer the ‘Dukandar Overdraft Scheme’?
A) Kotak Bank
B) HDFC Bank
C) IndusInd Bank
D) Union Bank of India(UBI)
E) ICICI Bank

Answer – B) HDFC Bank
Explanation:
HDFC Bank partnered with CSC SPV to offer the ‘Dukandar Overdraft Scheme’ for small retailers.

Question 4) Which of the following banks launched ‘Green Fixed Deposits’?
A) Kotak Bank
B) Bank Of Baroda(BOB)
C) IndusInd Bank
D) Union Bank of India(UBI)
E) ICICI Bank

Answer – C) IndusInd Bank
Explanation:
The IndusInd Bank launched ‘Green Fixed Deposits’, to support the UN’s Sustainable Development Goals.

Question 5) The Reserve Bank of India (RBI) has extended the deadline for periodic KYC updates till ____________
A) May 31, 2022
B) April 30, 2022
C) January 31, 2022
D) February 28, 2022
E) March 31, 2022

Answer – E) March 31, 2022
Explanation:
RBI has extended the last date for periodic (know Your Customer) KYC updates till 31st March, 2022.

Question 6) SBI Cards has tied up with ____ for card tokenization to protect data of the cardholders.
A) Paytm
B) Phonepe
C) Freecharge
D) Mobikwik
E) Gpay

Answer – A) Paytm
Explanation:
In order to protect the data of its cardholders, SBI Cards has partnered with Paytm for card tokenization.

Question 7) NaBFID has been established as a corporate entity with an authorized share capital of Rs. ______ Crores.
A) 1 lakh
B) 2 lakh
C) 3 lakh
D) 4 lakh
E) 5 lakh

Answer – A) 1 lakh
Explanation:
NaBFID has been set up as a corporate entity with an authorized share capital of Rs. 1 Lakh Cr.

Question 8) National Bank for Financing Infrastructure & Development (NaBFID) is the principal development financial institution (DFIs) for _______
A) Infrastructure
B) Agriculture
C) Fisheries
D) MSMEs
E) Rural

Answer – A) Infrastructure
Explanation:
The National Bank for Financing Infrastructure & Development (NaBFID) is the Nodal Development Financial Institution (DFI) for Infrastructure.

Question 9) Shares of NABFID may be held by_______
A) Central Government
B) Multilateral Institutions
C) Sovereign Wealth Funds
D) Pension Funds
E) All of these

Answer – E) All of these
Explanation: Shares of NABFID may be held by: (i) central government, (ii) multilateral institutions, (iii) sovereign wealth funds, (iv) pension funds, (v) insurers, (vi) financial institutions, (vii) banks, and (viii) any other institution prescribed by the central government. Initially, the central government will own 100% shares of the institution which may subsequently be reduced up to 26%.

Question 10) From which of the following can NABFID borrow money from?
A) Central Government
B) Reserve Bank of India (RBI)
C) Scheduled Commercial Banks
D) Mutual Funds and Multilateral Institutions
E) All of these

Answer – E) All of these
Explanation:
The NABFID may borrow money from: (i) central government, (ii) Reserve Bank of India (RBI), (iii) scheduled commercial banks, (iii) mutual funds, and (iv) multilateral institutions such as World Bank and Asian Development Bank.

Question 11) A micro enterprise is defined as an entity where the investment in plant & machinery or equipment doesn’t exceed Rs. 1 Cr. and turnover doesn’t exceed ________
A) 5 Crores
B) 3 Crores
C) 2 Crores
D) 4 Crores
E) 10 Crores

Answer – A) 5 Crores
Explanation:
A micro enterprise is defined as an entity where the investment in plant & machinery or equipment doesn’t exceed Rs. 1 Cr. and turnover doesn’t exceed Rs. 5 Cr.

Question 12) A small enterprise is defined as an entity where the investment in plant & machinery or equipment doesn’t exceed Rs. 10 Cr. and turnover doesn’t exceed _______
A) 15 Crores
B) 30 Crores
C) 20 Crores
D) 40 Crores
E) 50 Crores

Answer – E) 50 Crores
Explanation:
A small enterprise is defined as an entity where the investment in plant & machinery or equipment doesn’t exceed Rs. 10 Cr. and turnover doesn’t exceed Rs. 50 Cr.

Question 13) A medium enterprise is defined as an entity where the investment in plant & machinery or equipment doesn’t exceed Rs. 50 Cr. and turnover doesn’t exceed _________
A) ₹450 crore
B) ₹350 crore
C) ₹250 crore
D) ₹650 crore
E) ₹750 crore

Answer – C) ₹250 crore
Explanation:
A medium enterprise is defined as an entity where the investment in plant & machinery or equipment doesn’t exceed Rs. 50 Cr. and turnover doesn’t exceed Rs. 250 Cr.

Question 14) How many presses printed Bank notes?
A) 5
B) 1
C) 4
D) 2
E) 3

Answer – C) 4
Explanation:
Bank notes are printed at 4 currency presses, out of which 2 are owned by the Govt. of India through its Corporation, Security Printing & Minting Corporation of India Limited (SPMCIL) and the other 2 are owned by RBI, through its fully owned subsidiary, Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL).

Question 15) The currency presses of SPMCIL are at _______
A) Mysore and Salboni
B) Nasik and Dewas
C) Hyderabad and Salboni
D) Bengaluru and Dewas
E) None of these

Answer – B) Nasik and Dewas
Explanation:
The currency presses of Security Printing & Minting Corporation of India Limited (SPMCIL) are located at Dewas (Central India) & Nasik (Western India).

Question 16) The two presses of BRBNMPL are at ______
A) Mysore and Salboni
B) Nasik and Dewas
C) Hyderabad and Salboni
D) Bengaluru and Dewas
E) None of these

Answer – A) Mysore and Salboni
Explanation:
The 2 presses of BRBNMPL are at Salboni (Eastern India) & Mysore (Southern India).

Question 17) Coins are minted by _______
A) GOI
B) SPMCIL
C) BRBNMPL
D) RBI
E) None of these

Answer – B) SPMCIL
Explanation:
Coins are minted by SPMCIL.

Question 18) Coins are minted in ____ mints.
A) 5
B) 1
C) 4
D) 3
E) 2

Answer – C) 4
Explanation:
Coins are minted in 4 mints owned by SPMCIL. These mints are located at Noida, Mumbai, Kolkata and Hyderabad.

Question 19) The coins are issued for circulation only through the Reserve Bank in terms of _____ of the RBI Act.
A) Section 37
B) Section 36
C) Section 38
D) Section 39
E) Section 40

Answer – C) Section 38
Explanation:
The coins are issued for circulation only through the RBI under the purview of Section 38 of the RBI Act.

Question 20) As on March 31, 2020, there were ______ currency chests.
A) 3347
B) 3367
C) 3357
D) 3377
E) None of these

Answer – B) 3367
Explanation:
To ensure the distribution of rupee coins & banknotes, RBI has approved select scheduled banks to set up currency chests. These chests are the storehouses where rupee coins & banknotes are kept on behalf of RBI for distribution to the bank branches in their respective area of operation. As on 31st March, 2020, 3367 currency chests were there.

Apart from taking these Quizzes and going through the videos published on our YouTube channel, if you wish to cover the complete syllabus for Govt. Job exams, we suggest you sign up for Vidya Guru’s General Competition course. The course provides you with the Best Online SSC Coaching Classes along with Banking Exam Coaching for IBPS and SBI exams. However, if you are targeting the Defence Job exams, which are conducted twice a year by the UPSC, then enrolling in our CDS Online Coaching Classes could be a career defining decision on your part.

Summary
This quiz comprises select Banking Awareness questions that are super relevant from the perspective of upcoming PO and Clerical exams conducted by the Institute of Banking Personnel Selection (IBPS) and SBI. To enquire further about our Pen Drive / Online or Classroom Coaching, you can call up directly on our helpline numbers: 9650549487 / 9650549587. You can also write to us at vidyagurudelhi@gmail.com to seek more information about our Coaching Courses, Study Material & Online Mock Test Series.