Bank Awareness Questions and answers -1

 

    1.   Which is the first month where Indian credit card spend crosses one trillion per month according to RBI.

A.  Jan 2020

B.  Oct 2019

C.  Apr 2020

D.  Oct 2021

Correct Answer: Oct 2021

Explanation Buoyed by the festival season euphoria, credit card spends for the first time crossed 1 trillion Rs. in a month in October, revealed the latest figures released by the Reserve Bank of India (RBI) on 2nd December 2021.

 

     2.   Which is the first India fintech start-up to register IPO

A.  State bank of India

B.  Fino Payments Bank

C.  Google Wallet

D.  Apple pay

Correct Answer: Fino payments bank

Explanation: Fino Payments Bank will be the first fintech start-up in India to get listed on the bourses and it is profitable. Fintech firm Fino Payments Bank will open its IPO on October 29 and close on November 2. The firm is looking to raise ₹1,200 crore through the public listing including an offer for sale worth ₹900 crore

 

    3.   Who gave oath to RBI Governor

A.   President

B.    Vice president

C.    Finance Minister

D.    Prime Minister

Correct answer: President

   

    4.   How many types identified under NPA

A.  2

B.  3

C.  4

D.  5

Correct answer: 3

Explanation: Non Performing Assets are classified into 3 categories: Sub-standard assets: When the NPAs have aged <= 12 months. Doubtful assets: When the NPAs have aged > 12 months. Loss assets: identified loss, but it has not been written off.

  

    5.   Who is the first RBI governor after independence?

A.  Sir C. D. Deshmukh

B.  Sir Osborne Smith

C.   Dinesh Kumar Khara

D.  Amitabh Chaudhry

Correct answer: C. D. Deshmukh

Explanation:

Deshmukh joined the Reserve Bank of India in 1939 and served successively as its Secretary to the Board, Deputy Governor and the Governor. He was appointed Governor of the Reserve Bank of India in August 1943 and is one of the eight Deputy Governors of the Bank who have gone on to become its Governor. As Governor, Deshmukh helped establish the Industrial Finance Corporation and focused on the promotion of rural credit. Deshmukh's tenure saw the RBI begin a Research and Statistics department, the demonetisation of bank notes of ₹ 500 and above, the ceasing of the RBI's role as the central banks of Burma and State Bank of Pakistan and the enactment of the Banking Companies Act, 1949 that laid down the framework for regulation of India's banking sector. The RBI was nationalised on 1 January 1949 through the RBI Act, 1948. Deshmukh opposed this proposal for nationalisation but agreed to continue as the chairman of the board of directors presiding over the transition of the bank from a private to a nationalised institution. In July 1949 Benegal Rama Rau succeeded Deshmukh as the Governor of the RBI.

    

    6.   When was RBI nationalized

A.  1st January, 1949

B.  22nd august 1948

C.  08th March 1949

D.  26th January 1950

Correct answer:1st  January, 1949

Explanation:

The Reserve Bank of India was nationalised with effect from 1st January, 1949 on the basis of the Reserve Bank of India (Transfer to Public Ownership) Act, 1948. All shares in the capital of the Bank were deemed transferred to the Central Government on payment of a suitable compensation.

   

   7.   Find the bank which is not nationalized

A.  UCO Bank

B.  Central bank of India

C.  Bank of Maharashtra

D.  Karnataka Bank

Correct Answer: Karnataka Bank

Explanation:

They are 12 in number, and their names are Punjab National Bank, Bank of Baroda, Bank of India, Central Bank of India, Canara Bank, Union Bank of India, Indian Overseas Bank, Punjab, and Sind Bank, Indian Bank, UCO Bank, and Bank of Maharashtra, State Bank Of India

  

    8.   Which is the first digital bank of India

A.  HDFC Bank

B.  Kotak Mahindra Bank

C.  ICICI Bank

D.  Axis Bank

Correct Answer: ICICI Bank

Explanation:

The Industrial Credit and Investment Corporation of India (ICICI) Bank, India's largest private sector bank has launched India's first digital Bank on mobile phones, Pockets. This service will enable users to instantly send money to any e-mail id, mobile number, friends on Facebook and bank account.


   9.   Recently Andhra bank merged with which bank

A.  State Bank of India

B.  Union Bank of India

C.  Canara Bank of India

D.  ICICI Bank

Correct answer: Union Bank of India

Explanation:

Punjab National Bank (PNB) took over Oriental Bank of Commerce and United Bank of India; Allahabad Bank became part of Indian Bank; Canara Bank subsumed Syndicate Bank; and Andhra Bank and Corporation Bank merged with Union Bank of India


   10.   Which bank has been ranked India’s No.1 Bank in Forbes’ world’s Best bank report 2021?

A.     State Bank of India

B.     ICICI Bank

C.     HDFC Bank

D.     Axis Bank

Correct answer: HDFC Bank

Explanation:

HDFC Bank has been ranked India’s No.1 Bank in Forbes’ world’s Best bank report. It has 88,253 permanent employees as of 31 March 2018 and has a presence in Bahrain, Hong Kong and Dubai. HDFC Bank is India’s largest private sector lender by assets. It is the largest bank in India by market capitalisation as of March 2020.
Revenue: 1.17 lakh crores INR (2019, US$17 billion) / Total assets: 11.89 lakh crores INR (2019, US$170 billion). HDFC Bank has a banking network of 5,485 branches and 14,533 ATMs spread across 2,866 cities and towns. Euromoney Private Banking and Wealth Management Survey 2021. HDFC Bank ranks No. 1 in Mass Affluent category

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