Banking Awareness MCQ by Most Reputed Bank Coaching in Delhi

Current Affairs typically refers to “news.” From the perspective of competitive exams, current affairs refer to local, national, and global events that are so significant and relevant that students should be aware of them. The student’s awareness of his environment can be seen in his current affairs knowledge. This understanding is typically put to the test in the competitive tests for aspirants.

How can I study for GK/Current Affairs questions in competitive exams?

First of all, enrol with Vidya Guru, the leading bank coaching institute in Delhi, because we have dedicated teams of experts with expertise in their respective subjects, which means we have a separate team for teaching GK/Current affairs.

Secondly, check the exam’s previous years’ papers to get a sense of the kinds of GK/current affairs questions that were asked. Make a list of the categories from which the exam’s questions most commonly occurred. Using this list as a guide, choose what bothers you the most and make sure you resolve your queries. Make routine of going through the quizzes that we publish for free. We suggest you make full use of these resources, as these are up-to-date and are shared on the regular basis.

1) Which among the following is a representative body of management of banking in India?
A) NABARD
B) IBBI
C) IBA
D) Both (B) and (C)
E) None of these
Answer – C) IBA
Explanation:
Indian Banks’ Association (IBA)- a representative body of management of banking in India. It was formed on (26 September 1946) as an association of Indian banks and financial institutions based in Mumbai.

2) If a bank is unable to refund the short term deposits as funds are locked in long term loans then it is known as _______
A) Credit Risk
B) Market Risk
C) Liquidity Risk
D) Operational Risk
E) All of these
Answer – C) Liquidity Risk
Explanation:
Liquidity Risk refers to the situation when a bank faces cash shortage.

3) Treasury bills or T-bills are money market instruments which are issued by the Government of India in ____
A) 91 Days
B) 182 Days
C) 364 Days
D) All of these
E) None of these
Answer – D) All of these
Explanation:
Treasury bills or T-bills are money market instruments which are issued by the Government of India in three tenors, namely, 91 days, 182 days and 364 days.

4) Fixed Income Money Market and Derivatives Association of India (FIMMDA) was incorporated as a Company under _____ of the Companies Act,1956 on June 3rd, 1998.
A) Section 35
B) Section 25
C) Section 45
D) Section 55
E) None of these
Answer – B) Section 25
Explanation:
Fixed Income Money Market and Derivatives Association of India (FIMMDA) was
incorporated as a Company under section 25 of the Companies Act,1956 on June
3rd, 1998. FIMMDA includes Nationalized Banks, State Bank of India and Private Sector Banks such as ICICI, HDFC etc.,

5) Which among the following acts was framed specially to deal with the Non-Performing Assets in Banking?
A) Banking Regulation Act 1949
B) Foreign Exchange Management Act(FEMA) 1999
C) Industrial Disputes Act 1947
D) SARFAESI Act, 2002
E) None of these
Answer – D) SARFAESI Act, 2002
Explanation:
The Securitisation and Reconstruction of Financial Assets and Enforcement of
Security Interest Act, 2002 (SARFAESI Act) allows banks and other financial institutions to auction residential or commercial properties to recover loans.

6) The Asset Reconstruction Company (ARC) is a company registered under ____ of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act, 2002.
A) Section 2
B) Section 1
C) Section 3
D) Section 4
E) None of these
Answer – C) Section 3
Explanation:
The Asset Reconstruction Company (ARC) is a company registered under Section 3 of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act, 2002.

7) Asset Reconstruction Company India Limited(ARCIL) – India’s first and among the leading asset reconstruction companies in the country is sponsored by ______
A) SBI
B) PNB
C) Avenue India Resurgence Pte. Ltd
D) All of these
E) None of these
Answer – D) All of these
Explanation:
ARCIL is sponsored by prominent banks and financial institutions such as Avenue India Resurgence Pte. Ltd., State Bank of India (SBI) and Punjab National Bank (PNB). ARCIL is headquartered in Mumbai and also an associate member of Indian Bankers Association(IBA)

8) Security Printing and Minting Corporation of India (SPMCIL), was incorporated under the Companies Act, 1956 with its headquarters at ____
A) Mumbai
B) Kolkata
C) Bangalore
D) New Delhi
E) None of these
Answer – D) New Delhi
Explanation:
SPMCIL is an Indian government-owned corporation that engages in the production of bank notes, coins, non–judicial stamps, postage stamps, and other government related documents for India. It was formed in 2006 as the result of corporatisation of security presses and mints functioning under the India Ministry of Finance. It contains nine units, which include four presses, four mints, and a paper mill.

9) The Headquarters of Securities and Exchange Board of India (SEBI) is located at ______
A) New Delhi
B) Kolkata
C) Mumbai
D) Pune
E) None of these
Answer – C) Mumbai
Explanation:
The Headquarters of Securities and Exchange Board of India (SEBI) – Mumbai.

10) Rupee Denominated Bonds can be issued only after obtaining Loan
Registration Number(LRN) from the ___________
A) GOI
B) Reserve Bank of India
C) SEBI
D) NABARD
E) None of these
Answer – B) Reserve Bank of India
Explanation:
Rupee Denominated Bonds can be issued only after obtaining Loan Registration
Number(LRN) from the Reserve Bank of India.

11) The Headquarters of Deposit Insurance and Credit Guarantee Corporation (DICGC) is located at _____
A) New Delhi
B) Kolkata
C) Mumbai
D) Pune
E) None of these
Answer – C) Mumbai
Explanation:
The Headquarters of Deposit Insurance and Credit Guarantee Corporation (DICGC) – Mumbai.

12) Which among the following deposits is not covered by the DICGC?
A) Deposits of foreign Governments
B) Deposits of Central/State Governments
C) Inter-bank deposits
D) Deposits of the State Land Development Banks with the State co-operative banks
E) All of these
Answer – E) All of these
Explanation:
DICGC insures all bank deposits, such as saving, fixed, current, recurring, etc. except the following types of deposits.
● Deposits of foreign Governments
● Deposits of Central/State Governments
● Inter-bank deposits
● Deposits of the State Land Development Banks with the State co-operative banks
● Any amount due on account of and deposit received outside India
● Any amount which has been specifically exempted by the corporation with the previous approval of the RBI.

13) The DICGC insures principal and interest upto a maximum amount of _____
A) ₹ 4 lakhs.
B) ₹ 5 lakhs.
C) ₹ 3 lakhs.
D) ₹ 10 lakhs.
E) None of these
Answer – B) ₹ 5 lakhs.
Explanation:
The Deposit Insurance and Credit Guarantee Corporation (DICGC) insures principal and interest upto a maximum amount of ₹ 5 lakhs.

14) Which among the following is the country’s largest custodian and depository participant?
A) CIBIL
B) SEBI
C) NABARD
D) SHCIL
E) None of the Above
Answer – D) SHCIL
Explanation:
Stock Holding Corporation of India Ltd (SHCIL), India’s largest custodian and depository participant.
SHCIL Headquarters – Mumbai.

15) Authorised Money Changers (AMCs) are entities, authorised by the Reserve Bank of India under _____ of the Foreign Exchange Management Act, 1999
A) Section 15
B) Section 10
C) Section 14
D) Section 20
E) None of these
Answer – B) Section 10
Explanation:
Authorised Money Changers (AMCs) are entities, authorised by the Reserve Bank of India under section 10 of the Foreign Exchange Management Act, 1999.

16) The minimum Net Owned Funds (NOF) required for consideration as
Single branch FFMC is _________
A) Rs. 12 lakh
B) Rs. 10 lakh
C) Rs. 50 lakh
D) Rs. 25 lakh
E) None of these
Answer – D) Rs. 25 lakh
Explanation:
The minimum Net Owned Funds(NOF) required for consideration as Single branch FFMC is Rs. 25 lakh.

17) The minimum Net Owned Funds (NOF) required for consideration as
Multiple branch FFMC is _________
A) Rs. 12 lakh
B) Rs. 10 lakh
C) Rs. 50 lakh
D) Rs. 25 lakh
E) None of these
Answer – C) Rs. 50 lakh
Explanation:
The minimum Net Owned Funds(NOF) required for consideration as Multiple branch FFMC is Rs. 50 lakh.

18) Which among the following credit rating agencies is the World’s first SME-focused rating agency.?
A) CRISIL
B) ICRA
C) CARE
D) SMERA
E) None of these
Answer – D) SMERA
Explanation:
SMERA (SME Rating Agency of India)- World’s first SME-focused rating agency.

19) The headquarters of Credit Analysis & Research Limited (CARE) is ______
A) Mumbai
B) New Delhi
C) Noida
D) Gurugram
E) Hyderabad
Answer – A) Mumbai
Explanation:
Credit Analysis & Research Limited(CARE) – Mumbai

20) In FFMC, “M” stands for ______
A) Mortgage
B) Maturity
C) Money
D) Medium
E) None of these
Answer – C) Money
Explanation:
Full-Fledged Money Changers – FFMC

21) Which among the following banks has launched 6 new digital initiatives under “Project wave”?
A) Canara Bank
B) Union Bank of India
C) Punjab National Bank
D) Indian Bank
E) None of these
Answer – D) Indian Bank
Explanation:
Indian Bank has launched 6 new digital initiatives under “Project wave”.

22) IRDAI has Set up a 15 member Health Insurance Consultative Committee. It will be headed by ______
A) S.N.Rajeswari
B) Parmod kumar Arora
C) Rakesh Joshi
D) Thomas M Devasia
E) None of these
Answer – C) Rakesh Joshi
Explanation:
IRDAI has set up a 15 member Health Insurance Consultative Committee. It will be headed by Rakesh Joshi.

23) Which among the following has launched “Electronic Gold Receipt (EGR) on its Platform?
A) Metropolitan Stock Exchange of India Limited
B) Indian Commodity Exchange Limited
C) BSE Ltd
D) Calcutta Stock Exchange Ltd
E) None of these
Answer – C) BSE Ltd
Explanation:
BSE Ltd has launched “Electronic Gold Receipt (EGR) on its Platform.

24) “Sandeep Bakshi” has been appointed as the MD and CEO of ________
A) Canara Bank
B) ICICI Bank
C) HDFC Bank
D) Axis Bank
E) None of these
Answer – B) ICICI Bank
Explanation:
“Sandeep Bakshi” has been appointed as the MD and CEO of ICICI Bank.

25) C.S.Rajan has been appointed as an additional and independent director of ______
A) ICICI Bank
B) Kotak Mahindra Bank
C) Axis Bank
D) Dhanlaxmi Bank
E) None of these
Answer – B) Kotak Mahindra Bank
Explanation:
C.S.Rajan has been appointed as an additional and independent director of Kotak Mahindra Bank.

26) Which among the following Companies has launched its first green data centre in India?
A) Paypal
B) Bharat pe
C) Phonepe
D) Paytm
E) None of these
Answer – C) Phonepe
Explanation:
Phonepe has launched its first green data centre in India.

27) Which among the following banks has launched the “KBL Centenary Deposit Scheme”?
A) Kotak Mahindra Bank
B) Karnataka Bank
C) KVB
D) Yes Bank
E) None of these
Answer – B) Karnataka Bank
Explanation:
Karnataka Bank has launched the “KBL Centenary Deposit Scheme”.

28) Deependra Singh Rathore has been appointed as the interim CEO of ______
A) Jio Payments Bank
B) Airtel Payments Bank
C) Paytm Payments Bank
D) India Post Payments Bank
E) None of these
Answer – C) Paytm Payments Bank
Explanation:
Deependra Singh Rathore has been appointed as the interim CEO of Paytm Payments Bank.

29) Which among the following banks has re-introduced “Suraksha Fixed Deposit (FD) Scheme for Customers?
A) Indusind Bank
B) DBS Bank
C) Yes Bank
D) KVB
E) None of these
Answer – B) DBS Bank
Explanation:
DBS Bank has re-introduced “Suraksha Fixed Deposit (FD) Scheme for Customers.

30) Which among the following banks has become India’s first to achieve Rs.6 trillion Assets Under Management (AUM) in the home loan Segment?
A) PNB
B) UBI
C) SBI
D) IOB
E) None of these
Answer – C) SBI
Explanation:
SBI has become India’s first to achieve Rs.6 trillion Assets Under Management (AUM) in the home loan Segment.

31) Prime Minister Narendra Modi has dedicated _____ Digital Banking Units (DBUs) to the nation.
A) 50
B) 75
C) 25
D) 100
E) None of these
Answer – B) 75
Explanation:
Prime Minister Narendra Modi has dedicated 75 Digital Banking Units (DBUs) to the nation.

32) Indian Army has signed an MOU with _____ banks for providing banking facilities to Agniveers on enrollment.
A) 10
B) 11
C) 12
D) 13
E) All of these
Answer – B) 11
Explanation:
Indian Army has signed an MOU with 11 banks for providing banking facilities to Agniveers on enrollment.

33 Who among the following Persons has been appointed as the Brand ambassador of Bandhan Bank?
A) Sourav Ganguly
B) Sachin Tendulkar
C) Anil Kumble
D) Yuvraj Singh
E) None of these
Answer – A) Sourav Ganguly
Explanation:
Sourav Ganguly has been appointed as the Brand ambassador of Bandhan Bank.

34) Which among the following banks has bagged a world record for staging and swinging the highest 101 Oonjals (Jhoolas) beautifully decorated in Kochi?
A) Federal Bank
B) South Indian Bank
C) ICICI Bank
D) HDFC Bank
E) None of the
Answer – B) South Indian Bank
Explanation:
South Indian Bank has bagged a world record for staging and swinging the highest 101 Oonjals (Jhoolas) beautifully decorated in Kochi.

35) Raj Vikas Verma has been re-appointed as the non-executive Chairman of _______
A) Ujjivan small Finance Bank
B) Janalakshmi small Finance Bank
C) Equitas small Finance Bank
D) AU small Finance Bank
E) None of these
Answer – D) AU small Finance Bank
Explanation:
Raj Vikas Verma has been re-appointed as the non-executive Chairman of AU small Finance Bank.

36) NABARD (National Bank for Agriculture and Rural Development) has sanctioned Rs. 221.99 crore Under the Rural Infrastructure Development Fund (RIDF) to______
A) Gujarat
B) Haryana
C) Punjab
D) Rajasthan
E) None of these
Answer – C) Punjab
Explanation:
NABARD (National Bank for Agriculture and Rural Development) has sanctioned Rs.221.99 crore Under the Rural Infrastructure Development Fund (RIDF) to Punjab.

37) Which among the following banks has launched the “Smart Hub Vyapar Merchant App for SMES?
A) HDFC Bank
B) Canara Bank
C) ICICI Bank
D) Indusind Bank
E) None of these
Answer – A) HDFC Bank
Explanation:
HDFC Bank has launched the “Smart Hub Vyapar Merchant App for SMES.

38) A Balasubramanian has been re-elected as the Chairman of the _____
A) SEBI
B) PFRDA
C) CRISIL
D) AMFI
E) None of these
Answer – D) AMFI
Explanation:
A Balasubramanian has been re-elected as the Chairman of the AMFI (Association of Mutual Funds in India)

39) Which among the following has launched a new advanced supervisory monitoring system “Daksh”?
A) SEBI
B) RBI
C) SIDBI
D) CRISIL
E) Hyderabad
Answer – B) RBI
Explanation:
The Reserve Bank of India (RBI) has launched a new advanced supervisory monitoring System “Daksh”.

40) Which among the following banks has launched “smart wire”, an online solution for inward remittances?
A) HDFC Bank
B) Canara Bank
C) ICICI Bank
D) Indusind Bank
E) None of these
Answer – C) ICICI Bank
Explanation:
ICICI Bank has launched “Smart wire”, an online solution to help its customers carry out SWIFT bated inward remittances in a faster and hassle-free manner.

How do I retain General Knowledge and Current Affairs for competitive exams? GK/Current Affairs is a tremendously broad and nearly endless subject. It is a difficult challenge to retain all of this information because there are so many facts, numbers, and data.

Vidya Guru, the most reputed bank coaching institutes in Delhi, teaches its students the best strategies to retain all this information, which are:
1. Revisions
2. Testing

Establish a revision schedule and update GK/Current Affairs on a regular basis. Additionally, take as many tests as you can.

In order to prepare for GK and Current Affairs, Vidya Guru releases informative content weekly and monthly on their popular portals: https://www.vidyaguru.in/blog/, https://online.vidyaguru.in/blog/, https://www.youtube.com/@VidyaguruIn, giving you the best of current affairs and GK content in a free and easy to retain format. Visit these portals to find out more about them and be ready for exams.