Banking Awareness Quiz For IBPS | RBI | SBI | NABARD | LIC | 13-11-2023

 

Dear Readers,

Banking Awareness has been an important part of various competitive exams, so we are here with a series of Banking Awareness quizzes on a daily basis on our platform. Follow the quiz daily to improve your banking awareness.

Q.1Which of the following figures accurately represents the current repo rate?

(1) 5.60% 

(2) 6.50%

 (3) 7.20%

(4) 3.40%

 (5) None of these

2-Mata Ne Pachedi got GI Tag, this painting is associated from which city of Gujarat ?

(1) Surat 

(2) Rajkot

(3) Vadodara 

(4) Ahmedabad

(5) Kutch

Q.3 International Day of Argania 2023 observed on which date?

(1) 5-May

 (2) 7-May 

(3) 8-May

(4) 10-May 

(5) 12-May

Q.4 Arjuna Award was started in which year?

(1) 1951 

(2) 1981

 (3) 1971

(4) 1961

 (5) 1991

Q.5 Banking Ombudsman defined under which section of Banking Regulation Act 1949?

(1) Section 32 B

(2) Section 33 B

(3) Section 33 A

(4) Section 35 A

(5) Section 34 A

Q.6 Choose the correct pair which comes under LAF -

(1) CRR and SLR

(2) Repo rate and Reverse Repo Rate

(3) Base rate and MCLR

(4) CRR and Repo Rate

(5) Repo Rate and Bank Rate

Q.7 Deficit financing means that the government has borrowed money from the-

(1) Revenue Department

(2) World Bank

(3) RBI

(4) IMF

(5) None of these

Q.8 Foreign Exchange Regulation Act (FERA) of 1947, was subsequently replaced by Foreign Exchange Regulation Act, __.

(1) 1978

(2) 1950 

(3) 1984

(4) 1973 

(5) 1980

9-When the central bank uses the bank rate as a tool to control inflation, what is the expected impact on consumer spending?

a) Consumer spending increases

b) Consumer spending decreases

c) No impact on consumer spending

d) Consumer spending becomes volatile

e) It depends on other factors

10-What is the primary purpose of the bank rate in the central bank's monetary policy framework?

a) To regulate the foreign exchange market

b) To control inflation

c) To manage short-term liquidity needs of banks

d) To set benchmark interest rates for commercial banks

e) To promote long-term economic growth

Answer Key-

1-Sol. (2)

2-Sol. (4) 

3-Sol. (4)

4-Sol. (4)

5-Sol. (4)

6-Sol. (2)

7-Sol. (3)

8-Sol. (4)

9-Sol. (2)

10-Sol. (4)