Banking Awareness Quiz for Bank Exam – (14 May 2020)

The Banking Awareness section constitutes a major part of a competitive examination and needs your undivided attention. Banking Awareness Quiz of 14th May 2020 covering the following topics: RBI, Banknotes, Mortgage, EOQ, Demonetise.

The Banking Awareness section constitutes a major part of a competitive examination and needs your undivided attention. With the increased competition in the field of Banking examinations, it has now become very important to cover up all the sections efficiently. One subject that can help you bagging graceful marks in the minimum time in these examinations is Banking Awareness. Banking Awareness Quiz not only helps you deal with the General Awareness Section of Banking Exams but also, the Personal Interview round of Banking or Insurance Recruitment.

                               

To complement your preparation for General Awareness section of the upcoming exams like SBI Clerk Mains and RBI Assistant Mains we are providing you Banking Awareness Quiz of 14th May 2020 covering the following topics: RBI, Bank notes, Mortgage, EOQ, Demonetise.

Q1. When did RBI demonetise 25 paise coins in the country?
(a) 2010
(b) 2008
(c) 2011
(d) 2009
(e) 2005

Q2. Who decides on the value and volume of bank notes to be printed and on what basis?
(a) Finance Ministry
(b) Planning Commission
(c) RBI
(d) Stock exchange
(e) None of the above

Q3. One rupee notes bear the signature of_________________?
(a) Governor of Reserve Bank of India
(b) Prime Minister of India
(c) President of India
(d) Secretary, Ministry of Finance (Government of India)
(e) None of the above

Q4. What is the meaning of Mortgage?
(a) Security on movable property for a loan given by a bank
(b) Security on immovable property for a loan given by a bank
(c) Concession on immovable property for a loan given by a bank
(d) Facility on immovable property for a loan given by a bank
(e) Security on immovable property for a deposit received by a bank

Q5. What is the full form of EOQ related to banking?
(a) Evaluation-on-Quantity
(b) Even-on-Quality
(c) Economic Order Quantity
(d) Economic-on-Quality
(e) None of the above

Solutions

S1. Ans.(c)
Sol. On June 30, 2011, the 25 paisa and all lower denomination coins were officially demonetized.

S2. Ans.(c)
Sol. The Reserve Bank of India(RBI), decides the denomination of notes to be printed within the purview of “RBI Act of 1934”.

S3. Ans.(d)
Sol. The One Rupee note is issued by Ministry of Finance and it bears the signatures of Finance Secretary, while other notes bear the signature of RBI Governor.

S4. Ans.(b)
Sol. Security on immovable property for a loan given by a bank is known as Mortgage.

S5. Ans.(c)
Sol. EOQ is the acronym for economic order quantity. The economic order quantity is the optimum quantity of an item to be purchased at one time in order to minimize the combined annual costs of ordering and carrying the item in inventory.

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