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Banking Awareness 3

Choose the correct option from the choices given under the question.
1. The largest revenue in India is obtained from __________
1. Railways
2. Excise Duty
3. Sales Tax
4. Direct Taxes
ANSWER: 2
2. The tax levied by Central Government and collected by State Government is ________
1. Stamp Duty
2. Excise Duty
3. Income Tax
4. Gift Tax
ANSWER: 1

3. What is the major share in revenue of State Governments?
1. Stamp Duty
2. Excise Duty
3. Sales Tax
4. Income Tax
ANSWER: 3

4. The tax levied by Local Governments i.e. Municipal Corporations and municipalities is ____________
1. Income Tax
2. Wealth Tax
3. House Tax
4. Gift Tax
ANSWER: 3

5. The tax collected by the State Governments and given to local bodies is __________
1. Income Tax
2. Wealth Tax
3. House Tax
4. Professional Tax
ANSWER: 4

6. The period for Call Money is ________
1. 10 to 15days
2. 1 to 14 Days
3. 15 to 30 Days
4. One Month
ANSWER: 2

7. Who regulates the money circulation in India?
1. State Bank Of India
2. Reserve Bank Of India
3. NABARD
4. Commercial Banks
ANSWER: 2

8. Which of the following is not an organized sector in India?
1. Nationalised Banks
2. Regional Rural Banks
3. Cooperative Banks
4. Chits and Money lenders
ANSWER: 4

9. Who will settle the grievances of customers of banks?
1. Reserve Bank of India
2. State Bank of India
3. Local Courts
4. Ombuds Men
ANSWER: 4

10. Who introduced the Banking Ombudsmen Scheme?
1. RBI
2. SBI
3. Ministry of Finance
4. NABARD
ANSWER: 1

11. When was OMBUDS MEN SCHEME first introduced?
1. November 2006
2. October 1981
3. June 1995
4. January 1998
ANSWER: 3

12. Which was the firth Bank corporated by the Indians? (1881)
1. Imperial Bank of India
2. State Bank Of India
3. Avadh Commercial Bank
4. Reserve Bank of India
ANSWER: 3

13. When was the Avadh Commercial Bank established?
1. 1881
2. 1894
3. 1898
4. 1899
ANSWER: 1

14. When was Reserve Bank of India established?
1. 1920
2. 1925
3. 1935
4. 1948
15. When was Reserve Bank of India Nationalised?
1. 1947
2. 1948
3. 1949
4. 1950
ANSWER: 3

16. When was Indian Banking Act come into force?
1. 1948
2. 1949
3. 1950
4. 1951
ANSWER: 2

17. Imperial Banks were amalgamated and changed as _________
1. Reserve Bank of India
2. State Bank of India
3. Subsidiary Banks
4. Union Bank of India
ANSWER: 2

18. When was Imperial Bank was Changed as State Bank of India?
1. January 1st 1935
2. Feb 26 1947
3. July 1st 1955
4. July 1st 1959
ANSWER: 3

19. How many banks were first nationalised?
1. 10
2. 12
3. 14
4. 16
20. When was the second phase of nationalisation of banks done?
1. 9th July 1969
2. 10th July 1968
3. 16th August 1985
4. 15th April, 1980
ANSWER: 4

21. How many banks were in second phase of nationalisation?
1. 4
2. 5
3. 6
4. 7
ANSWER: 3

22. Who will act as the banker to the Government of India?
1. State Bank of India
2. Reserve Bank of India
3. NABARD
4. Nationalised Banks
ANSWER: 2

23. Where is the Head Quarter of Reserve Bank of India?
1. Mumbai
2. Delhi
3. Kolkotta
4. Ahmedabad
ANSWER: 1

24. Who was first governor of Reserve Bank of India?
1. K.A. Narasimham
2. Malhotra
3. A.K. Vadia
4. A.B.A Smith
ANSWER: 4

25. When was Lead Bank Scheme introduced?
1. 1967
2. 1968
3. 1969
4. 1974
ANSWER: 3

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