GK and GS practice
Banking GK and GS Questions
Static GK and banking awareness practice questions for IBPS and SBI exams.
- 50Questions
- 6Subjects
Banking Awareness 18
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1 Banking Awareness
In which year did the Reserve Bank of India begin its operations?
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Answer: A. 1935
The RBI started functioning on 1 April 1935 under the Reserve Bank of India Act, 1934.
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2 Banking Awareness
On which date was the Reserve Bank of India nationalised?
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Answer: B. 1 January 1949
The RBI was taken into full government ownership on 1 January 1949.
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3 Banking Awareness
How many commercial banks were nationalised in India in July 1969?
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Answer: C. 14
Fourteen major commercial banks were nationalised on 19 July 1969.
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4 Banking Awareness
In which year did the second round of bank nationalisation, covering six banks, take place in India?
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Answer: D. 1980
Six more private banks were nationalised in April 1980.
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5 Banking Awareness
What does CRR stand for in banking?
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Answer: A. Cash Reserve Ratio
CRR is the Cash Reserve Ratio, the share of deposits banks must keep with the RBI as cash.
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6 Banking Awareness
What is the full form of SLR?
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Answer: B. Statutory Liquidity Ratio
SLR is the Statutory Liquidity Ratio, the share of deposits banks must hold in liquid assets such as government securities.
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7 Banking Awareness
What does NEFT stand for?
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Answer: C. National Electronic Funds Transfer
NEFT is the National Electronic Funds Transfer system for moving money between bank accounts.
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8 Banking Awareness
What does RTGS stand for?
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Answer: D. Real Time Gross Settlement
RTGS means Real Time Gross Settlement, where each transfer is settled individually as it happens.
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9 Banking Awareness
A cheque that can be paid to whoever presents it at the bank counter is called a
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Answer: A. Bearer cheque
A bearer cheque is payable to the person holding and presenting it.
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10 Banking Awareness
A cheque with two parallel lines drawn across its face can be
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Answer: B. Paid only into a bank account
Crossing a cheque means the amount can only be credited to a bank account, not paid in cash over the counter.
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11 Banking Awareness
In banking, what does NPA stand for?
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Answer: C. Non-Performing Asset
NPA means Non-Performing Asset, a loan whose interest or principal instalment has stayed overdue for more than 90 days.
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12 Banking Awareness
What does KYC stand for in banking?
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Answer: D. Know Your Customer
KYC means Know Your Customer, the process banks use to verify a customer's identity and address.
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13 Banking Awareness
Where is the headquarters of NABARD located?
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Answer: A. Mumbai
NABARD has been headquartered in Mumbai since it was set up in 1982.
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14 Banking Awareness
Where is the headquarters of the Small Industries Development Bank of India (SIDBI)?
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Answer: B. Lucknow
SIDBI was set up in 1990 with its head office in Lucknow.
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15 Banking Awareness
The Reserve Bank of India was set up on the recommendation of which commission?
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Answer: C. Hilton Young Commission
The Hilton Young Commission, also called the Royal Commission on Indian Currency and Finance, recommended a central bank for India.
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16 Banking Awareness
The State Bank of India was formed in 1955 by taking over which bank?
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Answer: D. Imperial Bank of India
SBI was created in 1955 when the Imperial Bank of India was taken over under the State Bank of India Act.
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17 Banking Awareness
Cheques, promissory notes and bills of exchange in India are governed by the Negotiable Instruments Act of which year?
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Answer: A. 1881
The Negotiable Instruments Act was passed in 1881 and covers cheques, promissory notes and bills of exchange.
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18 Banking Awareness
In which year was the Banking Regulation Act passed in India?
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Answer: B. 1949
The Banking Regulation Act, originally named the Banking Companies Act, was passed in 1949.
Economy 9
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19 Economy
What does GDP stand for?
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Answer: C. Gross Domestic Product
GDP is Gross Domestic Product, the total value of goods and services produced within a country.
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20 Economy
What period did India's First Five Year Plan cover?
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Answer: D. 1951 to 1956
The First Five Year Plan ran from 1951 to 1956 and focused mainly on agriculture.
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21 Economy
Which body replaced the Planning Commission of India in 2015?
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Answer: A. NITI Aayog
NITI Aayog was set up on 1 January 2015 in place of the Planning Commission.
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22 Economy
On which date was the Goods and Services Tax (GST) rolled out across India?
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Answer: B. 1 July 2017
GST came into effect nationwide on 1 July 2017.
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23 Economy
Which of the following is a direct tax?
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Answer: C. Income tax
Income tax is paid directly by the person on whom it is levied, so it is a direct tax.
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24 Economy
A situation where high inflation exists together with slow growth and high unemployment is called
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Answer: D. Stagflation
Stagflation is the combination of rising prices with stagnant output and high unemployment.
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25 Economy
In which year did India launch its major economic reforms of liberalisation, privatisation and globalisation?
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Answer: A. 1991
The New Economic Policy introducing liberalisation, privatisation and globalisation was launched in 1991.
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26 Economy
What term does the Constitution of India use for the Union Budget?
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Answer: B. Annual Financial Statement
Article 112 refers to the budget as the Annual Financial Statement.
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27 Economy
The financial year in India runs from
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Answer: C. 1 April to 31 March
India's financial year begins on 1 April and ends on 31 March of the following year.
Geography 5
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28 Geography
Which is the longest river in India?
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Answer: B. Ganga
The Ganga is the longest river in India, flowing about 2,525 km.
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29 Geography
The Tropic of Cancer does NOT pass through which of these states?
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Answer: C. Odisha
The Tropic of Cancer crosses Gujarat, Jharkhand and Mizoram among others, but it does not pass through Odisha.
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30 Geography
Which is the largest state of India by area?
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Answer: D. Rajasthan
Rajasthan has the largest land area of any Indian state.
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31 Geography
Which strait separates India from Sri Lanka?
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Answer: A. Palk Strait
The Palk Strait lies between Tamil Nadu and the northern coast of Sri Lanka.
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32 Geography
Chilika Lake, a large coastal lagoon, is located in which state?
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Answer: B. Odisha
Chilika Lake is a brackish water lagoon on the east coast in Odisha.
History 5
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33 History
In which year was the Battle of Plassey fought?
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Answer: C. 1757
The Battle of Plassey was fought in 1757 between the East India Company and Nawab Siraj-ud-Daulah.
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34 History
In which year was the Indian National Congress founded?
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Answer: D. 1885
The Indian National Congress held its first session in Bombay in December 1885.
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35 History
The Jallianwala Bagh massacre of 1919 took place in which city?
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Answer: A. Amritsar
The massacre took place on 13 April 1919 at Jallianwala Bagh in Amritsar.
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36 History
In which year did Mahatma Gandhi lead the Dandi March?
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Answer: B. 1930
The Dandi March against the salt tax began on 12 March 1930.
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37 History
The Quit India Movement was launched in which year?
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Answer: C. 1942
The Quit India resolution was passed at the AICC session in Bombay on 8 August 1942.
Polity 6
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38 Polity
On which date did the Constitution of India come into force?
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Answer: D. 26 January 1950
The Constitution came into force on 26 January 1950, which is celebrated as Republic Day.
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39 Polity
Which Article of the Constitution of India protects the right to life and personal liberty?
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Answer: A. Article 21
Article 21 states that no person shall be deprived of life or personal liberty except by procedure established by law.
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40 Polity
Who was the chairman of the Drafting Committee of the Constituent Assembly?
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Answer: B. B. R. Ambedkar
Dr B. R. Ambedkar chaired the Drafting Committee that prepared the draft Constitution.
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41 Polity
What is the maximum strength of the Rajya Sabha allowed under the Constitution?
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Answer: C. 250
Article 80 fixes the maximum strength of the Rajya Sabha at 250 members.
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42 Polity
What is the minimum age to become a member of the Lok Sabha?
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Answer: D. 25 years
Article 84 requires a Lok Sabha member to be at least 25 years old.
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43 Polity
Which Article of the Constitution provides for the Comptroller and Auditor General of India?
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Answer: A. Article 148
Article 148 creates the office of the Comptroller and Auditor General of India.
Static GK 7
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44 Static GK
What is the currency of Japan?
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Answer: D. Yen
The yen is the official currency of Japan.
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45 Static GK
What is the capital of Australia?
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Answer: A. Canberra
Canberra is the capital of Australia, though Sydney is its largest city.
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46 Static GK
Which is the national aquatic animal of India?
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Answer: B. Ganges river dolphin
The Ganges river dolphin was chosen as India's national aquatic animal at the first meeting of the National Ganga River Basin Authority on 5 October 2009.
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47 Static GK
Where is the headquarters of the International Monetary Fund?
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Answer: C. Washington, D.C.
The IMF is headquartered in Washington, D.C., in the United States.
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48 Static GK
Where is the headquarters of the Asian Development Bank?
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Answer: D. Manila
The Asian Development Bank has been based in Manila, Philippines, since it was founded in 1966.
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49 Static GK
Kaziranga National Park, famous for the one-horned rhinoceros, is in which state?
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Answer: A. Assam
Kaziranga National Park lies in Assam and holds the largest population of one-horned rhinos.
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50 Static GK
What is the currency of Bangladesh?
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Answer: B. Taka
The taka is the official currency of Bangladesh.
Set complete