In view of the coronavirus pandemic, we are making LIVE CLASSES and VIDEO CLASSES completely FREE to prevent interruption in studies
General Awareness > Current Affairs > Banking and Insurance Awareness
Current Affairs

Banking and Insurance Awareness

We live in a world where information gets constantly updated every time of the day. General knowledge or general awareness is one subject that sees the results of such a constant updating of information. This has also become an integral part of the banking exams and other competitive exams. Even banking awareness is a topic that is frequently asked in such competitive exams.

Suggested Videos

Play
Play
Play
Arrow
Arrow
ArrowArrow
Introduction to culture and civilisation
Cities and Challenge of Environment
Social Changes in Cities During Industrialisation
Slider

 

Banking Awareness 

When you look at banking as a whole, there is so much information that is present which affects the entire banking system on a day to day basis. So, while preparing for banking exams it is important to gather all this information. Some of the topics that are generally covered under banking awareness include the following:

banking awareness

Source – Blue diamond gallery

  • RBI and the recent rate hikes
  • Important financial organizations and banks
  • Banks and Bank chairmen
  • Technologies and Terms that are used in banking
  • Indian economy and recent banking trends

banking awareness

Browse more Topics under Current Affairs

Some Questions 

RBI and Recent rate hikes

Q.  What is Cash Reserve Ratio (CRR)?

  1. It is the rate of interest that RBI charges all banks.
  2. the cash that banks are required to maintain with RBI.
  3. It is the rate at which RBI lends money to commercial banks.
  4. None of the above

Ans. Option B

Cash Reserve Ratio refers to the minimum amount that banks are required to maintain with the RBI.

Important financial organizations and banks

Q.  What is the full form of IDRBT? When was this established?

Ans. The full form of IDRBT is Institute for Development and Research in Banking Technology. It was established by the RBI in 1996.

Banks and Bank chairmen

Q. Which is the first bank to introduce mutual funds in India?

  1. Canara Bank
  2. Allahabad Bank
  3. Punjab National Bank
  4. State Bank of India

Ans. Option D – State Bank of India

Q. Canara Bank and Vijaya Bank have their headquarters in which city?

  1. Mumbai
  2. Kolkata
  3. Hyderabad
  4. Bangalore

Ans.  Option D – Both Canara Bank and Vijaya Bank have their headquarters in Bangalore.

Technologies and Terms that are used in banking

Q.  The term Sub Prime Lending is applicable to the loans made to –

  1. Borrowers who do not have a good credit history.
  2. Borrowers who are the preferred customers of a bank.
  3. Someone who wants to take a loan against the mortgage of tangible assets
  4. Borrowers who have a very good credit history.

Ans. Option A

Subprime is a term that refers to the credit quality of borrowers who have a poor credit history and hence exhibit a greater risk of defaulting a loan.

 Indian economy and recent banking trends

Q. What is the main objective of the Monetary Policy of India?

  1. To maintain price stability and control inflation
  2.  Influence the level of government purchases and taxes
  3.  Facilitate trade and payments
  4. To have a desirable income distribution

Ans. Option A

To maintain price stability and control inflation.

 Practice Questions

1.Which among these following terms is not associated with banking or economics?

  1. National debt
  2. Faraday’s law
  3. Elasticity of demand
  4. Balance of Payments

Ans. Option B – Faraday’s Law

2. Which of these following schemes was formulated by RBI?

  1. Jan Dhan Yojana
  2. MUDRA Bank Yojana
  3. Boutique Financing Scheme
  4. Banking Ombudsman Scheme

Ans. Option D – Banking Ombudsman Scheme.

Share with friends

Customize your course in 30 seconds

Which class are you in?
5th
6th
7th
8th
9th
10th
11th
12th
Get ready for all-new Live Classes!
Now learn Live with India's best teachers. Join courses with the best schedule and enjoy fun and interactive classes.
tutor
tutor
Ashhar Firdausi
IIT Roorkee
Biology
tutor
tutor
Dr. Nazma Shaik
VTU
Chemistry
tutor
tutor
Gaurav Tiwari
APJAKTU
Physics
Get Started

Leave a Reply

avatar
  Subscribe  
Notify of

Stuck with a

Question Mark?

Have a doubt at 3 am? Our experts are available 24x7. Connect with a tutor instantly and get your concepts cleared in less than 3 steps.
toppr Code

chance to win a

study tour
to ISRO

Download the App

Watch lectures, practise questions and take tests on the go.

Get Question Papers of Last 10 Years

Which class are you in?
No thanks.