Banking & Financial Awareness MCQ - Set 32

Banking Awareness MCQ - Set 32

Dear Readers,

Solve the Banking And Financial Awareness MCQ/ Quiz which are available on  Achiever's Rule. You should study the Banking Articles,  Daily Current Affairs Update, Current Affairs Articles to prepare yourself for upcoming IBPS, RBI, SBI and other Banking exams. You must download the available PDFs.

Q1.Who is the Chief Executive of Commonwealth Bank of Australia?
A]David Watson
B]Francis Smith
C]Ian Narev
D]Henry Brandon
E]None of them

Q2.Who is the Chairman and MD of ITPO ?
A]A K Sahai
B]L C Goyal
C]Urjit Patel
D]Nareswar Swamy
E]None of them

Q3.Which of the following banks is given the Best Performance award by the NABARD ?
A]Dena Bank
B]Andhra Bank
C]Union Bank of India
D]Corporation Bank
E]Vijaya Bank

Q4.Which of the following banks has launched a CSR initiative ?
A]RBI
B]NABARD
C]SBI
D]RRB
E]None of these

Q5.Who is appointed as the MD and CEO of IFCI(Industrial Finance Corporation of India) ?
A]Raghuram Swamy
B]E Shankara Rao
C]Vijay Prakash
D]Balbir Sindhu
E]None of them

Q6.Which of the following banks is going to offer instant Credit Cards ?
A]HDFC Bank
B]Axis Bank
C]Dhanalaxmi Bank
D]ICICI Bank
E]City Union Bank

Q7."Trusted Family Bank" is the tagline of which of the following banks ?
A]Vijaya Bank
B]Yes Bank
C]Dena Bank
D]HDFC Bank
E]United Bank of India

Q8.The National Income of India is measured on the basis of which of the following ?
A]Number of employed youths
B]Flow of Goods
C]Volume of tax collected per annum
D]Income of Govt. and PSU employees
E]All of the above

Q9.In which year the Banking OMBUDSMAN scheme has come into force ?
A]2004
B]2005
C]2006
D]2007
E]2008

Q10.Which of the following factors must be reduced by the growth of economy ?
A]Gender inequalities
B]Population of the country
C]Poverty
D]Flow of FDI
E]None of these

Q11.In which year the Banking Companies Act was passed ?
A]1947
B]1948
C]1950
D]1953
E]1949

Q12.Which of the following statements is/are true about Banking Ombudsman ?
A]It is a Collateral Judicial Authority
B]It is a Quasi Judicial Authority
C]It is a Bi-Lateral Judicial Authority
D]All of these
E]None of these

Q13.What will be the effect of the service charge on the bank statement ?
A]Lower Balance
B]Interest deduction from the account
C]Fixed Charge incurred
D]All of these
E]None of these

Q14.The Banking Ombudsman can summon which of the following ?
A]Bank
B]Customer
C]Local Government
D]Both A and B
E]Both A and C

Q15.The RBI became the Central Banking Authority in which of the following years ?
A]1935
B]1965
C]1972
D]1947
E]1950

Explanation

Explanation 1. Ian Narev is the Chief Executive of Commonwealth Bank of Australia. He will retire due the pressure from the regulators as he was accused of money laundering and terrorism financing.He will leave the bank within 2018.

Explanation 2. L C Goyal is the Chairman and MD of ITPO ( India Trade Promotion Organization). He is 1979 batch IAS officer of Karnataka cadre and also served as Home Secretary.

Explanation 3. Corporation Bank is given the Best Performance award by the NABARD( National Bank of Agriculture and Rural Development Bank) for SHG-bank linkage program for Karnataka for 2015-16 and 2016-17. The bank has formed approximately 1.40 Lakh Self-Help Groups.

Explanation 4. SBI has launched a CSR(Corporate Social Responsibility) initiative. The main motto of this this initiative is to work in the areas of health, environment, education and rural infrastructure . It is named as SBI Gram Seva.

Explanation 5. E Shankara Rao is appointed as the MD and CEO of IFCI(Industrial Finance Corporation of India). He is appointed for the post for 3 years. He has worked as the Director and CEO of IICL Asset Management Company.

Explanation 6. City Union Bank is going to offer instant Credit Cards. The customers can generate a credit card online. The bank has tied up with MasterCard for this purpose.

Explanation 7. "Trusted Family Bank" is the tagline of Dena Bank. The head office of the bank is situated in Mumbai. Aswini Kumar is the CEO of the bank.

Explanation 8. The National Income of India is measured by number of employed youths, flow of goods,volume of tax collected per annum and income of Govt. and PSU employees.

Explanation 9. The Banking OMBUDSMAN scheme has come into force from 1st January, 2006. Under the scheme a quasi judicial authority will handle the complaints by the customers related to services of the Bank.

Explanation 10. Poverty must be reduced by the growth of economy.It refers to the increase in market value of the services and goods adjusted after inflation which was produced by the economy over the time.

Explanation 11. The Banking Companies Act was passed in 1949. It is the legislation of India which regulates the banking firms. The law was applicable to the banking companies as well as the cooperative banks.

Explanation 12. Banking Ombudsman is a quasi judicial authority which functions under the Banking Ombudsman Scheme 2006 of India. It deals with the complaint of the customers of Banks.

Explanation 13. There will be the lower balance in the bank account as the result of the service charge on the bank statement.

Explanation 14. The Banking Ombudsman can summon both of the customers and banks. It is an authority which deals with the complaints of the customers regarding the services of the Banks.

Explanation 15. The RBI was started in 1st April, 1935. But in the year of 1965 it became the Central Banking Authority of India. It control the monetary policy of Indian Rupee.