Bank Awareness Questions and answers -2

 

    1.   ING Vysya Bank got merged to which bank in India

A.  Kotak Mahindra Bank

B.  State Bank of India

C.  HDFC Bank

D.  ICICI Bank

Correct Answer: Kotak Mahindra Bank

Explanation:

       On 20 November 2014, in an all-stock amalgamation, ING Vysya Bank decided to merge with Kotak Mahindra Bank, creating the fourth largest private sector bank in India.

 

    2.   Which bank is known as central bank of Germany

A.  State bank of German

B.  The Deutsche Bundesbank

C.  Commerzbank

D.  The Deutsch bank

Correct Answer: The Deutsche Bundesbank

Explanation:

      The Deutsche Bundesbank literally "German Federal Bank", is the central bank of the Federal Republic of Germany and as such part of the European System of Central Banks (ESCB).

 

   3.   Till when the RBI served as the central bank of Pakistan

A.  1947

B.  1948

C.  1950

D.  1955

Correct Answer: 1948

Explanation:

          After the Partition of India in August 1947, the bank served as the central bank for Pakistan until June 1948 when the State Bank of Pakistan commenced operations. Though set up as a shareholders' bank, the RBI has been fully owned by the Government of India since its nationalisation in 1949.

 

   4.   What is the number of digits in IFSC Code

A.  10

B.  11

C.  14

D.  17

Correct Answer: 11

Explanation:

       The IFSC is an 11 digit alpha numeric code, with the first four digits identifying the bank, fifth is numeric (kept 0) and the last six digits represent the bank branch.

 

   5.   When was UPI service launched?

A.  2012

B.  2014

C.  2016

D.  2020

Correct Answer: 2016

Explanation:

     The pilot launch was on 11th April 2016 by Dr. Raghuram G Rajan, Governor, RBI at Mumbai. Banks have started to upload their UPI enabled Apps on Google Play store from 25th August, 2016 onwards.

  

   6.   What does UPI stand for

A.  United Payment Interface

B.  Unified Payment Interface

C.  United payment India

D.  Unified Payment India

Correct Answer: Unified Payment Interface

Explanation:

  Unified Payments Interface is an instant real-time payment system developed by National Payments Corporation of India facilitating inter-bank peer-to-peer and person-to-merchant transactions.

 

   7.   Which organization developed BHIM Application

A.  Google

B.  SBI Bank

C.  RBI

D.  NPCI

Correct Answer: NPCI

Explanation:

     Pioneered and developed by National Payments Corporation of India (NPCI), BHIM has been conceived and launched by the Hon'ble Prime Minister of India, Narendra Modi on 30th December 2016 to bring in Financial Inclusion to the nation and a digitally empowered society.

 

   8.   What is the full form of NAV

A.  Net Asset Value

B.  National Asset Value

C.  Net Asset Valuation

D.  Net Asset Variation

Correct Answer: Net Asset Value

Explanation:

       Net asset value (NAV) represents a fund's per share market value. NAV is calculated by dividing the total value of all the cash and securities in a fund's portfolio, minus any liabilities, by the number of outstanding shares. The NAV calculation is important because it tells us how much one share of the fund is worth.

 

   9.   In how many languages is the amount is written on the bank note

A.  15

B.  17

C.  18

D.  19

Correct Answer: 17

Explanation:

    There are more than 150 languages spoken in India. We cant practically put each and ever language on the note. That is the reason only 17, most widely spoken languages are taken into consideration. If you have noticed that the languages on the notes are the officially chosen language of each state.

 

   10 . When was the State Bank of India nationalized

A.  1955

B.  1957

C.  1959

D.  1966

Correct Answer: 1955

Explanation:

     State Bank of India (SBI), state-owned commercial bank and financial services company, nationalized by the Indian government in 1955.