GK Questions for Bank Exam: Banking GK-

Answer:- D). 12

In addition to cooperative credit institutions, the Indian banking system is made up of 12 public sector banks, 22 private sector banks, 44 foreign banks, 56 regional rural banks, 1,485 urban cooperative banks, and 96,000 rural cooperative banks.

Answer:-A). Automated Teller Machine

It is a gadget that enables people to carry out routine banking operations without the assistance of a bank teller, including cash withdrawals, deposits, money transfers between accounts, balance checks, and more.

Answer:- C). Financial services

Yes, banks normally give their clients access to ATMs so they can perform a variety of financial operations and access their accounts. These machines are typically found in bank branches as well as other public places like convenience stores, airports, and shopping malls.

Answer:- A). RBI (Reserve Bank of India)

The Reserve Bank of India (RBI) oversees bank regulation in India. The RBI issues money, manages monetary policy, and keeps an eye on banks to make sure they’re stable and following rules.

Answer:- A). 1 April 1935

The Reserve Bank of India Act, 1934 gave rise to the Reserve Bank of India (RBI), which was founded on April 1, 1935. The RBI issues currency, controls monetary policy, and oversees banks in its capacity as India’s central bank. Both financial stability and economic growth are guaranteed, and policies are put into place. In order to keep India’s financial system stable and honest, the RBI is essential.

Answer:- D). Allahabad Bank

One of India’s oldest banks, the Bank of India was established in 1906. It was first founded in Mumbai as a private bank, and it was nationalized along with thirteen other significant commercial banks in 1969.

Answer:- C). Mumbai

The central office of the Reserve Bank of India (RBI) is located in Mumbai, Maharashtra. It was founded on April 1, 1935, by the Reserve Bank of India Act, and its functions include issuing money, supervising banks, and controlling monetary policy. In order to preserve India’s financial stability and promote economic expansion, the RBI is essential.

Answer:- A). Non-Performing Asset

The acronym for “Non-Performing Asset” is “NPA.” It describes advances or loans made by banks or other financial organizations that are no longer profitable for the lender since the borrower hasn’t paid back the principal or interest for a predetermined amount of time, typically 90 days or longer.

Answer:- C). 1 January 1949

On January 1, 1949, the Reserve Bank of India (RBI) was nationalized. By bringing the central banking operations under complete state control through nationalization, the Indian government was able to better regulate and oversee the banking industry in order to further the nation’s economic goals.

Answer:-C). FDIC Account

I apologize if I was unclear. I am unable to determine which choice is not a bank account type without the list of options. Nonetheless, standard varieties comprise savings, current checking, money market, and fixed deposit accounts. Credit cards, insurance policies, and investment accounts are examples of non-bank account possibilities.

Answer:- B). 7.75 %

India’s central bank and monetary authority is the Reserve Bank of India (RBI). Since it is a central bank and not a publicly listed company, its precise “bank value” may not be made public, even if it has sizable financial assets and gold reserves.

Answer:- A). Indian Financial System Code

The acronym IFSC stands for “Indian Financial System Code.” The Reserve Bank of India (RBI) has allocated a distinct alphanumeric identifier to every bank branch in the nation in order to enable online banking activities, including electronic financial transfers.

Answer:- (D) 19 November 2013

On November 19, 2013, Bharatiya Mahila Bank was founded in India as a public sector bank. It sought to give women financial services that were suited to their need in order to empower them economically. The establishment of the bank was a component of the Indian government’s initiatives to advance female parity in banking and financial inclusion.

Answer:- A). State Bank of India

In 1980, the Central Bank of India, in association with Mastercard and Visa, launched the nation’s first credit card. The name of it was “Centralcard.”

Answer:- D). 01 July, 1955

On July 1, 1955, the State Bank of India (SBI) was founded. But its origins can be found in the founding of the Bank of Calcutta in 1806, which subsequently changed its name to the Bank of Bengal. It combined with other banks over time to become the State Bank of India that exists today.

Answer:- D). Selling insurance policies

I’m unable to identify which of the functions listed isn’t one that a bank offers without knowing the full list. Nonetheless, banks frequently handle foreign exchange in addition to issuing credit cards, managing foreign exchange, granting loans, and enabling payments. Healthcare services and product manufacture are examples of non-banking activities.

Answer:- B). Bank of Hindustani

Founded in 1770, the Bank of Hindustan holds the distinction of being India’s first bank. Up to 1829, it was in operation. However, the founding of the Bank of Calcutta (later called the Bank of Bengal) in 1806, the Bank of Bombay in 1840, and the Bank of Madras in 1841 marked the beginning of India’s modern banking system. Following their merger in 1921, these three banks established the Imperial Bank of India, which changed its name to the State Bank of India (SBI) in 1955.

Answer:-D). Micro Identification Code Reader

“MICR” is an acronym for “Magnetic Ink Character Recognition.” In the banking industry, it refers to the technology that prints unique characters in magnetic ink at the bottom of cheques and other paperwork. This enables automated information processing and machine reading, enabling quicker and more precise transaction processing.

Answer:- C). 1770

One of the oldest banks in India, the Bank of Hindustan, was founded in 1770. Throughout its existence, it contributed significantly to the financial landscape of the nation by offering banking services in the 18th and 19th centuries.

Answer:- B). Mumbai

Mumbai, Maharashtra, is home to the Reserve Bank of India’s (RBI) headquarters. In its capacity as India’s central banking organization, it issues currency, supervises monetary policy, and controls banks, all of which are vital to preserving the nation’s financial stability.

Answer:- D). Sir Sorabji Pochkhanawala

Sir Sorabji Pochkhanawala is frequently recognized as the “father of Indian banking,” among other notable players in the history of Indian finance. In the early 20th century, he made significant contributions to the growth of India’s banking sector and was instrumental in the establishment of the Central Bank of India in 1911.

Answer:- A). Reserve Bank of India

The bank named “Indian Bank” itself provides the “Indian Bank” business services. Indian Bank is a prominent public sector bank in India that offers its clients a range of financial services, such as loans, savings, investment products, and online banking options.

Answer:- B). State Bank of India

The State Bank of India, is referred to as the “Banker to Every Indian.” One of the biggest and most established commercial banks in India, SBI has a vast nationwide network of branches and ATMs. It provides services to a wide spectrum of clients, including corporations, governments, and private citizens.

Answer:-A). In Washington D.C.

The World Bank’s main office is located in Washington, D.C., in the United States. It oversees the institution’s global operations, which are focused on eradicating poverty and advancing sustainable development on a global scale, and acts as its major administrative base.

Answer:- B). Providing loans and advances

The main job of a commercial bank is usually defined as “accepting deposits and providing loans” in the absence of a list of possibilities. Commercial banks take consumer deposits, protect their money, and lend money to people, companies, and other organizations to support economic activity.

Answer:- C). World Bank

“Worldwide Document Report” is published by the International Monetary Fund (IMF), providing insights and analyses on global economic trends, financial policies, and international development initiatives.

Answer:- C). Gadgil Committee

The Narasimham Committee suggested that Regional Rural Banks (RRBs) be established in India. RRBs were set up to support rural development and offer banking services in rural areas.

Answer:- C). Income tax rate

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Answer:- A). April 1, 1935

On April 1, 1935, the Reserve Bank of India (RBI) was founded. It oversees the nation’s banking sector, controls monetary policy, and prints currency in its capacity as India’s central banking organization.

Answer:- D). Commodity Bank

Regional Rural Banks (RRB) are not considered commercial banks among India’s several bank classifications. RRB are a distinct class of banks created with the express purpose of advancing rural development and offering banking services in rural areas.

Answer:- A). Know Your Customer

The acronym “KYC” refers to “Know Your Customer” in the banking context. In order to make sure that its clients are not engaged in illicit activities like money laundering or financing terrorism, financial institutions go through a process known as identity verification.

Answer:- C). Nationalized banks

Information on foreign exchange operations is usually sent to banks that are engaged in them, such as foreign or international banks and local banks with foreign exchange departments.

Answer:-B). State Bank of India

In terms of assets, the State Bank of India (SBI) is the biggest bank in India. This bank is part of the public sector and is widely distributed throughout the nation. Please be aware, though, that rankings are subject to fluctuate over time for a variety of reasons.

Answer:- (C) Reduction or increase in P L R and announcement of credit policy.

I’m not sure which item can’t be obtained from the standard financial information of a bank customer without knowing the selections that have been offered. However, private data like a client’s password, social security number, or personal identification number (PIN) would not normally be gathered along with other financial data.

Answer:- B). ₹ 200 crore.

Small Finance Banks (SFBs) in India are required to have a minimum capital of ₹200 crores. This capital adequacy helps the banks meet the financial needs of underserved groups, including low-income households, small companies, and microenterprises, while also ensuring financial stability.

Answer:- C). BRICS

India belongs to a number of international associations and organizations, including the Commonwealth of Nations, the G20 (Group of Twenty), the SAARC (South Asian Association for Regional Cooperation), the NAM (Non-Aligned Movement), and BRICS (Brazil, Russia, India, China, and South Africa).

Answer:- C). Shaktikanta Das

RBI Governor Shri Shaktikanta Das appointed – He was serving as the G20 Sherpa of India and a member of the 15th Finance Commission just before taking on his current role.

Answer:- C). Trishul

भारत द्वारा विकसित प्रमुख मिसाइलों में से एक अग्नि श्रृंखला है। इस श्रृंखला में अग्नि-I, अग्नि-II, अग्नि-III आदि विभिन्न प्रकार की मिसाइलें शामिल हैं, जो मध्यवर्ती दूरी की बैलिस्टिक मिसाइलें हैं जो परमाणु हथियार ले जाने में सक्षम हैं।

Answer:- A). Banking Regulation Act, 1949

The Banking Regulation Act of 1949 gave the Reserve Bank of India (RBI) the authority to control how commercial banks in India operate. This act gave the RBI broad authority to supervise and control a range of banking activities, including management, operations, licensing, and more.

Answer:- D). Know Your Customer

The phrase “Know Your Customer” (KYC) carried out by licensed businesses could be understood as the full form of “Licensed KYC” in the digital age. Licensed businesses, including banks, payment processors, and fintech firms, are frequently obliged by law to carry out KYC procedures in order to confirm the identity of their clients in the context of digital transactions and financial services.

Answer:- B). Osborne Smith

Sir Osborne Smith was the first Governor of the Reserve Bank of India, holding the position from 1935 to 1937. He was instrumental in laying the groundwork for the central banking system in India.

Answer:- A). Accrued interest

In the language of banking and finance, “interest” is a widely used phrase. Interest is the proportion of the principal amount that is charged as a cost of borrowing money or as the return on investment. It is a basic idea in banking and finance that affects choices about borrowing, investing, and lending.

Answer:- B). ₹ 5 lakh per depositor per bank

In India, bank deposits are insured by the Deposit Insurance and Credit Guarantee Corporation (DICGC) up to a total of ₹5 lakh (Rupees five lakh) per depositor per bank. This implies that each depositor’s funds in that bank are insured up to ₹5 lakh in the event of a bank failure.

Answer:- B). South Indian Bank

In 1929, the South Indian Bank (SIB) was founded. With its main office located in Thrissur, Kerala, it is among the country’s first private sector banks. SIB has grown over time and now provides a variety of banking services to its clientele.

Answer:- A). ICICI Bank

In India, ICICI Bank was the pioneering bank to launch internet banking. In 1996, they introduced their online banking service, which was a big step toward the nation’s banking services’ digitization.

Answer:- B). Financial deprivation

In technical terms, the denial of access to financial services is known as “financial exclusion” or “financial exclusionary practices.” When people or communities lack access to common financial services including banking, credit, insurance, and investment opportunities, it is referred to by this phrase.

Answer:- B). Reserve Bank of India

The Reserve Bank of India (RBI) is responsible for issuing currency notes in India. With the exception of one rupee note, which is issued by the Ministry of Finance, the RBI is the only entity authorized to issue currency notes in the nation as its central banking institution.

Answer:- B). Wheat

“Main food of the world” is a subjective term that might mean different things to different people. However, when it comes to staple foods that are eaten by a significant majority of the world’s population, rice and wheat are frequently recognized as the two most popular options globally. They supply vital nutrients and calories to billions of people worldwide, making them important parts of diets in many nations.

Answer:- A). Money Laundering

The process of transforming black money into white is referred to as “money laundering.” Money laundering is the practice of using techniques like layering and integration into the financial system to conceal the source of money that has been obtained unlawfully (also known as “black money”) in order to make it appear legitimate (also known as “white money”).