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Banking Awareness Quiz for IBPS PO / RRB

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Banking Awareness Quiz for IBPS PO / RRB

1. MICR code is used for ________.
a) For Code Banking Solution
b) For Electronic Funds Transfer
c) For Electronic Clearance of Cheques
d) For Cheque Truncation Services
e) None of these
2. The Statutory Liquidity Ratio (SLR), the amount of liquid assets such as cash, precious metals and other short-term securities are kept with _______.
a) RBI
b) Individual banks
c) SBI
d) Finance Ministry
e) None of these
3. Magnetic Ink Character Recognition (MICR) is a 9 digits code is used mainly by the banking industry to ease the processing and clearance of cheques and other documents. The first three digits represent the 
a) Bank
b) City
c) State
d) Branch
e) None of these
4. In CDR, “R” stands for ______.
a) Regulation
b) Reserve
c) Restructuring
d) Ratio
e) Reduce
5. What is the minimum amount required to open a Fixed Deposit (FD)?
a) Rs. 1000
b) Rs. 100
c) Rs. 500
d) Rs. 10000
e) No Limit
6. If one is not satisfied with the decision passed by the Banking Ombudsman, one can approach the appellate authority to _______.
a) Governor of RBI
b) Deputy Governor of the RBI
c) Finance Secretary
d) Finance Minister
e) GM of the Concern Bank
7. Headquarters of National Investment and Infrastructure Fund (NIIF) is located at ________.
a) New Delhi
b) Hyderabad
c) Mumbai
d) Kolkata
e) Bangalore
8. RBS Bank has been headquartered in __________
a) Glasgow, United Kingdom
b) Edinburgh, United Kingdom
c) Skye, United Kingdom
d) Aberdeen, United Kingdom
e) None of these

Answers:

  1. c
  2. b
  3. b
  4. c
  5. a
  6. b
  7. c
  8. b
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