In a straightforward manner, banking awareness, for bank employees, can be defined as the banking strategy and the knowledge about how to communicate with consumers. Whereas, for clients or customers, it entails being informed about various bank lending programs, among other things. For yet another party, that is the student's community, especially those aspiring to clear competitive exams, banking awareness is a portion of their syllabus that includes questions about the historical record of banks in India, banking institutions, banking terminology, and the banking industry's activities and role in the global financial system.
While banking awareness consists of schemes being practiced across a variety of banks, circulars issued by RBI or rules & regulations set by it, and other matters involving banking; financial awareness comprises of finance-related news, matters relating to trade & commerce, and money market
Difference between Banking & Finance
Among the plethora of services that are offered by banks, the most common ones are providing loans, accepting deposits, underwriting securities, and offering shares publically. Whereas, finance companies perform and offer a yet broader and more advanced service range such as those involving insurance, asset management, and even services that facilitate financial research, among others. Thus, finance is an umbrella term that encompasses the term banking, inter-alia.
But Banking & Finance go hand in hand!
It wouldn’t be wrong to state that the two words are indeed inseparable from each other because it is not possible to sideline banking while talking about the finance and it is most definitely not so if you reverse the sides! Even though banking awareness and financial awareness can individually be studied but the paths of both do cross each other and become one ultimately. In order to acquire banking awareness, one is bound to study the intricacies of finance too; similarly, becoming financially aware and not learning about banking is impossible too. Thus banking and finance are both integral parts of an economy and are like two wheels of a vehicle, certain to be aligned and inter-linked.
Following are some of the multiple choice questions on the Banking financial awareness with answers that will help the students in developing their knowledge.
Banking financial awareness MCQ
1. Financial inclusion means
2. What is Contestable Period in insurance?
3. What is full form of NDTL?
4. What is the full form of DICGC?
5. Which of the following is not a part of CriSidEx?
6. Which of the following statements are correct with respect to NBFCs?
7. Which among the following is the main difference between the fiscal policy and the monetary policy of a country?
8. Which among the following services cannot be provided by Payments Banks in India?
9. To calculate capital adequacy ratio, the banks are required to take into account which of the following risks?
10. UPI payment system has been launched by which organisation?
11. Mutual Fund business from existing customers can be canvassed by__________.
12. How much amount has been allocated in interim budget 2019 under Pradhan Mantri Gram Sadak Yojana (PMGSY) for 2019-20?
13. Which of the following is not a general utility service offered by commercial banks
14. Which of the following is not the part of the Scheduled Banking structure in India?
15. What is the Maturity of Treasury Bills?
16. An account that a bank holds in a foreign country in another bank is known as _______.
17. Which of the following is true regarding NEFT and RTGS?
18. ________ has been authorized by RBI as the Bharat Bill Payment Central Unit (BBPCU).
19. Which of the following is not true about Payments Bank?
20. The maximum period of deposit in Recurring Deposit Account is:
21. Foreign exchange management has a term Dirty Float which stands for _________.
22. Which of the following goods are considered as the intermediate goods:
23. The Rural Banks came into existence in 1975 with the formation of which of the following banks?
24. Which among the following was the main recommendation of the Narsimhan Committee-II in 1998?
25. A ________ is a relative amount of capital to total assets (not risk-weighted).
26. Where is the headquarters of Small Industries Development Bank of India (SIDBI)?
27. Which of the following is not true about Bharat Interface for Money (BHIM) app?
28. What is the main objective behind the introduction of Payments Bank?
29. The new Rs 2000 banknote has the motif of _______ on the reverse side of it.
30. NRO Account can be opened in the form of:
31. The New India Assurance Company was established in ________.
32. CASA ratio is the ratio of deposits in which accounts of a bank to its total deposits?
33. The Union Budget of ________ is known as the 'Black Budget' in the history of Indian economy.
34. Which of the following is/are correct regarding the role and remit of RCAP?
35. _________ is referred to as a ‘Drawer’ in a Bill of Exchange.
36. What is the function of Jobbers in securities market?
37. According to 2018 regulation brought by RBI, loans belonging to MSMEs will be classified as NPAs after how many days?
38. In ‘MS Word’ MS stand for
39. What is the full form of VLSI?
40. What does ATM stands for?
41. What is the full form of LAN while connecting different systems?
44. What does the letter I stands for in the full form of IBM?
45. DVD is an example of a(n)__________
49. (A/An) ____________ system is a small, wireless handheld computer that scans an item's tag and pulls up the current price (and any special offers) as you shop.
50. The minimum period of deposit in Recurring Deposit Account is:
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