Banking Quiz for IBPS | SBI – 300

1.We can open a saving bank account in the sole name of a minor if he completes age of _____?
a) 18
b) 21
c) 10
d) None of these

2.In SNRR Account, SNRR stands for ________.
a) Statutory Non Reflex Rupee
b) Single Non Resident Rupee
c) Special Non Resident Rupee
d) None of these

3.What is the purpose of KYC in banking?
a) It is used for customer identification
b) It is used against money laundering
c) It is used by the central bank to control liquidity
d) Both (a) and (c)

4.When Reserve Bank intends to increase credit by the banking system, it
a) Reduces the bank rate
b) Raises the bank rate
c) Freezes the bank rate
d) None of these

5.Tagline of Bank of Baroda –
a) Where India Banks
b) India’s International Bank
c) Relationships beyond Banking
d) None of these

6.Normally banks accept fixed Deposits for a maximum period of:
a) 5 years
b) 10 years
c) 20 years
d) None of these

7._____________is a short term and unsecured promissory notes issued by corporations with very high credit standing?
a) Demand draft
b) Credit card
c) Commercial Paper
d) None of these

8.Which of the following is not a tool in the hands of RBI to control the inflationary pressure in the country?
a) Bank Rate (BR)
b) Special Drawing Rights (SDR)
c) Statutory Liquidity Ratio (SLR)
d) None of these

9.When was the Financial Market Department was established by RBI?
a) May, 1999
b) Jan, 2000
c) July,2005
d) None of these

10.In which year does the Differential Rate of Interest Scheme was introduced?
a) 1972
b) 1982
c) 1992
d) None of these