125 Bank GK Questions and Answers
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Bank GK Questions and Answers
1-What is the full form of RBI? Answer: Reserve Bank of India.
2-What is the minimum age to apply for a bank exam in India? Answer: 21 years.
3-What is the maximum age to apply for a bank exam in India? Answer: 30 years.
4-What is the maximum number of attempts allowed for a bank exam in India? Answer: It varies depending on the exam and category.
5-What is the full form of IBPS? Answer: Institute of Banking Personnel Selection.
6-What is the minimum educational qualification required for a bank exam in India? Answer: Graduation degree from a recognized university.
7-What is the role of a Probationary Officer (PO) in a bank? Answer: To manage various banking operations and customer service.
8-What is the role of a Clerk in a bank? Answer: To manage daily transactions, maintaining records, and customer service.
9-What is the syllabus for a bank exam in India? Answer: It varies depending on the exam, but it usually covers topics such as reasoning, quantitative aptitude, English language, and general awareness.
10-What is the selection process for a bank exam in India? Answer: It usually involves a preliminary exam, a mains exam, and an interview.
11-What is the salary of a bank PO in India? Answer: It varies depending on the bank, but it usually starts from Rs. 23,700.
12-What is the salary of a bank Clerk in India? Answer: It varies depending on the bank, but it usually starts from Rs. 11,765.
13-What is the importance of computer knowledge in a bank exam? Answer: It is an essential skill for managing daily banking operations and customer service.
14-What is the significance of general awareness in a bank exam? Answer: It tests the candidate’s knowledge about current affairs, banking and financial terms, and business news.
15-What is the meaning of the term NPA in the banking sector? Answer: Non-Performing Asset.
16-What is the meaning of the term CASA in the banking sector? Answer: Current Account and Savings Account.
17-What is the role of the RBI in the Indian banking sector? Answer: To regulate and supervise the functioning of banks in India.
18-What is the meaning of the term CRR in the banking sector? Answer: Cash Reserve Ratio.
19-What is the meaning of the term SLR in the banking sector? Answer: Statutory Liquidity Ratio.
20-What is the meaning of the term NEFT in the banking sector? Answer: National Electronic Funds Transfer.
21-What is the meaning of the term RTGS in the banking sector? Answer: Real-Time Gross Settlement.
22-What is the meaning of the term KYC in the banking sector? Answer: Know Your Customer.
23-What is the meaning of the term MICR in the banking sector? Answer: Magnetic Ink Character Recognition.
24-What is the meaning of the term SWIFT in the banking sector? Answer: Society for Worldwide Interbank Financial Telecommunication.
25-What is the meaning of the term IFSC in the banking sector? Answer: Indian Financial System Code.
26-Which bank introduced the first ATM in India?
27-Which public sector bank has the largest number of branches in foreign countries?
Ans. Bank of Baroda
28-What was India’s rank in GDP (nominal) according to the International Monetary Fund list in 2012?
29-With which institution did India sign a USD 500 Million agreement for the ‘Delhi-Ghaziabad-Meerut Regional Rapid Transit System Project’?
30-What transaction category crossed the 2 billion mark in October?
31-Which public sector bank has the largest number of branches in foreign countries?
Ans. Bank of Baroda
32-Which bank was inaugurated by Mahatma Gandhi in 1919?
Ans. Union Bank of India
33-Who chairs the meeting of the Financial Stability and Development Council (FSDC)?
Ans. Finance Minister
34-What are teaser loan rates charged by banks?
Ans. They are low rates of interest in the initial period which go up subsequently.
35-Which sector is the second-largest source of employment in India?
36-Which government co-owns ‘OneWeb’, a Low Earth Orbit (LEO) satellite communications operator?
Ans. United Kingdom
37-What does EMI stand for in the banking/finance sector?
Ans. Equated Monthly Instalment
38-Who presented the first Union Budget of Independent India?
Ans. R. K. Shanmukham Chetty
39-Which institution cautioned against taking loans through unauthorised digital lending apps?
40-In which year did India adopt liberal and free-market principles?
41-With which type of loans are teaser rates related?
Ans. Home loans
42-What is the threshold for mandatory e-invoicing, as per the CBIC?
Ans. Rs 50 crore
43-Where is the Head Office of Reserve Bank of India located?
44-How often is the inflation target set by the central government in consultation with the RBI?
Ans. Five years
45-What is the name of the bond that offers dedicated insurance against volcanic eruptions?
Ans. Volcano Bonds
46-In which year were statutory powers given to Securities and Exchange Board of India?
47-In which year was the Imperial Bank of India rechristened as State Bank of India?
48-In the 2013 Union budget of India, in which category was the highest amount of money allocated?
49-After nationalization, what did the Imperial Bank of India come to be known as?
Ans. State Bank of India
50-According to a recent notification from the Finance Ministry, where can a basic savings bank account be opened?
Ans. Post office.
51-When was the Value Added Tax first introduced in India?
52-Which bank launched the ‘Eva’ chatbot on CSCs Digital Seva Portal to support the Village Level Entrepreneurs (VLEs)?
Answer: HDFC Bank
53-Which is the country’s third-largest private sector lender whose name has been officially changed to Axis Bank Ltd.?
Answer: UTI Bank
54-Who is the Chairman of the Planning Commission?
Answer: Prime Minister
55-Which bank has launched an MSME mentoring programme in West Bengal?
Answer: Indian Bank
56-Who has the sole right to issue bank notes of all denominations?
57-Which organization has launched a campaign to promote contactless payments titled #FollowPaymentDistancing?
58-In which year were Regional Rural Banks established?
59-By what percentage did India’s GDP grow in Q1 FY ’22?
60-Expand the term LIBOR as used in the financial banking sectors.
Answer: London Inter Bank Offered Rate
61-With which of the following is the SARFAESI Act 2002 related?
Answer: Recovery of bad loans
62-What is the total number of approved stock exchanges in India?
63-Which country has agreed to accept the payment of exports of oil and petroleum products to India in rupee terms instead of dollars or any other currency?
64-With which bank has fintech player OneCard partnered to launch a mobile-based credit card named Mobile-First in India?
Answer: State Bank of Mauritius
65-Which organization has launched ‘UniTransact,’ a digital proposition aimed at simplifying cross-border transactions?
Answer: HSBC India
66-Which bank was established on the recommendations of the Shivaraman Committee?
67-Which bank has launched the country’s first comprehensive banking programme for millennials?
Answer: ICICI Bank
68-In which denomination were India’s first bimetallic coins issued in the year 2009?
Answer: Rs. 10
69-Which agency/organization decided to cancel 122 licenses of 2G Spectrum issued by the Government of India to various companies and asked the Government to do the process afresh?
Answer: Supreme Court of India
70-How many zonal offices does RBI have?
71-Which Indian company, along with UK-based BP, is to start oil production from the deepest offshore gas field in Asia?
Answer: Reliance Industries Ltd
72-Which of the following countries decided to add 3000 more centrifuges to its uranium enrichment programs, despite tough economic sanctions on it from various western countries?
73-Who formulates the fiscal policy in India?
Answer: Finance Ministry
74-Who is the Chairperson of the advisory council set up by RBI to manage the Payments Infrastructure Development Fund (PIDF)?
Answer: B P Kanungo
75-Where is the headquarters of RBI located?
76-What was State Bank Of India known as before nationalisation?
Answer: Imperial Bank of India
77-What penalty has the Reserve Bank of India (RBI) imposed for deficiencies in regulatory compliance?
Answer: ₹2 crore
78-In which year was Reserve Bank of India nationalized?
79-Which city is one of the four where coins are produced in India?
80-As per Oxford Economics, what is the estimated growth rate of India in FY 22?
81-How many banks are there in public sector currently?
82-Which country shares the highest percentage of Indian imports?
83-For the procurement of defence items, which country has been provided a soft loan of USD 100 million by the Export-Import Bank of India (Exim Bank)?
84-When was Exim Bank set up?
85-Who was the chairman of National Income Committee appointed by the Government of India in 1949?
Answer: P C Maharanobis
86-With which organization has LIC Housing Finance Ltd partnered to provide home loan products to over 4.5 crore customers?
Answer: India Post Payments Bank
87-What is the largest source of revenue for the Indian Government?
Answer: Excise Duties
88-AU Small Finance Bank (SFB) has signed an MoU with NABARD for rural development initiatives in which state?
89-What does the abbreviation NABARD stand for?
Answer: National Bank for Agricultural and Rural Development
90-Who established the Delhi School of Economics?
Answer: V. K. R. V. Rao
91-Which country has exempted import inspection for Indian black tiger shrimps?
92-Which regulator in India has formed a committee to relook its information and security guidelines?
93-In terms of rupees, which foreign currency has the highest value?
Answer: British Pound
94-Where is the headquarters of NABARD located?
95-Since 1983, which organization’s responsibility with respect to Regional Rural Banks was transferred to RBI?
96-How many languages are printed on an Indian currency note?
97-Which state has proposed to control microfinance by way of a state legislation?
98-In which year was SBI founded?
99-Which two public sector banks were merged?
Answer: Punjab National Bank and New Bank of India
100-With which organization has WealthDesk partnered to offer investment portfolios called ‘WealthBaskets’?
101-What is the number of languages used on a ten rupee note?
102-What term is used in the banking field?
Answer: Interest rate swap
103-Which sector is the largest source of employment in India?
104-After State Bank of India, which bank has the largest number of offices?
Answer: Punjab National Bank
105-Which bank decides the bank rate?
Answer: Reserve Bank of India
106-Who controls banking in India?
Answer: Reserve Bank of India
107-What does the “M” in M-Banking Facility stand for?
Answer: Mobile Phone
108-What are the reserves held by commercial banks over and above the statutory minimum, with the RBI called?
Answer: Excess reserves
109-What is the apex institution that handles refinance for agriculture and rural development in India?
110-Who sponsors Regional Rural Banks?
Answer: Nationalised Commercial Bank
111-In which year was the Reserve Bank of India established?
112-Which of the following is not a function of the Reserve Bank of India?
Answer: Issuing of one rupee notes and coins
113-What is the share of State Govt in the capital of Regional Rural Bank?
114-Where is the head office of the National Bank for Agriculture and Rural Development (NABARD) located?
115-As per the newspaper reports, what are the advanced MRMRs that the Government of India has agreed to purchase for its naval forces?
116-What is the sensitive index of National Stock Exchange of India popularly known as?
117-Which of the following is called a Bankers Cheque?
Answer: Demand Draft
118-Which of the following is not a function of the Reserve Bank of India?
Answer: Credit creation
119-What does Monetary Policy refer to?
Answer: Central Bank policy
120-Where is the headquarters of SEBI located?
121-Which of the following is a formal source of credit?
Answer: Commercial Bank
122-What is the designation of the Head of State Bank of India (SBI)?
123-Who is the first woman Chairperson of SBI?
Answer: Arundhati Bhattacharya
124-What is the expansion of the term LIBOR?
Answer: London Inter Bank Offered Rate
125-Which bank in India performs the duties of Central Bank?
Answer: Reserve Bank of India
126-Which one of the following is not a category of commercial banks in India?
Answer: Commodity Banks
127-When was the first Economic Census done in India?
128-What type of body is the Planning Commission of India?
Answer: Non-statutory body
129-Which organization recently launched the eShield Next life insurance product?
Answer: SBI Life Insurance
130-Who determines the repo rate in India?
131-During which Planning Commission period was NABARD established?
132-According to the IMF’s recent statement, what is India’s debt to GDP ratio during the Covid-19 pandemic?
Answer: 90 percent
133-What is ‘DigiBoxx’ that was recently launched by the CEO of NITI Aayog?
Answer: Asset management platform