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Banking Awareness Questions for SBI PO Mains Exam

Q1. ___________ is vested with the responsibility of conducting monetary policy.
(a) RBI
(b) SBI
(e) Finance Ministry

Q2. In which year the Reserve Bank of India (RBI) Act, 1934 was amended to provide a statutory basis for the implementation of the flexible inflation targeting framework?
(a) May 2013
(b) May 2014
(c) May 2015
(d) May 2016
(e) May 2012

Q3. Which scheme/act has enables an expeditious and inexpensive forum to bank customers for resolution of complaints relating to certain services rendered by banks?
(a) Reserve Bank of India Act, 1934
(b) Banking Regulation Act, 1949
(c) Securitization Act 2002
(d) FEMA
(e) Banking Ombudsman Scheme

Q4. The Banking Ombudsman Scheme is introduced by RBI with effect from-
(a) 1991
(b) 1995
(c) 1990
(d) 2002
(e) 2006

Q5. IBA adopts a consultative approach to give its views on any issue pertaining to the banking sector. What is the meaning of "I" in IBA?

(a) International
(b) Institute
(c) Investment
(d) Indian
(e) Increase

Q6. IBA stands for-
(a) Indian Banks' Allocation
(b) Indian Banks' Association
(c) Institute Banks' Association
(d) Indian Banks' Assembly
(e) Indian Billing Association

Q7. What is the present Repo Rate?
(a) 7.00%
(b) 6.25%
(c) 6.50%
(d) 6.75%
(e) None of the above

Q8. Which among the following rates is not the policy rate of RBI?
(a) Repo Rate
(b) Reverse Repo Rate
(c) Bank Rate
(d) Marginal Standing Facility Rate
(e) Cash Reserve Ratio

Q9. The Banking Ombudsman is a senior official appointed by..............?
(a) Indian Government
(b) President of India
(c) Chief Justice of India
(d) Reserve Bank of India
(e) Finance Ministry

Q10. As on date, there is _________ Banking Ombudsman centre located in India.

(a) 20
(b) 19
(c) 18
(d) 17
(e) 16

Q11. IBA was set up in ________ with 22 members to discuss issues of common interests.
(a) 1946
(b) 1955
(c) 1934
(d) 1921
(e) 1961

Q12. What is the effort of IBA?
(a) Assist and provide common services to members.
(b) Promote sound and progressive banking principles and practices.
(c) Co-ordinate and co-operate on procedural, legal, technical, administration, professional matters.
(d) Build Image of banking industry through publicity and public relations.
(e) All of the above

Q13. Central Government has notified in the Official Gazette ___________ CPI inflation as the target for the period from August 5, 2016 to March 31, 2021 with the upper tolerance limit of 6 per cent and the lower tolerance limit of 2 per cent.

(a) 4 percent
(b) 3 percent
(c) 5 percent
(d) 2 percent
(e) None of the above

Q14. What is the full form of CPI?
(a) Customer Price Index
(b) Consumer Price Index
(c) Consumer Product Index
(d) Consumer Price Indian
(e) Custom Price Index

Q15. What is the focus & Priorities of IBA?
(a) The Government of India on policy related issues
(b) Industry unions on wage negotiations and improving industrial relations
(c) Foreign counterparts to widen the horizon and perspectives
(d) Members to encourage inter-bank co-operation and co-ordination
(e) All of the above



5 Banking and SSC : Banking Awareness Questions for SBI PO Mains Exam Q1. ___________ is vested with the responsibility of conducting monetary policy. (a) RBI (b) SBI (c) NABARD (d) SIDBI (e) Finance Mini...

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