27 Jun 2017

Important Banking Awareness Quizzes (Topic Wise) for Upcoming IBPS Exams 2017

Important Banking Awareness Quizzes (Topic Wise) for Upcoming IBPS Exams 2017:
Dear Readers, Here we have provided the Important Banking Awareness Quizzes based on particular topic, which will help to understand and prepare in a better way. Candidates those who are preparing for upcoming IBPS Exams 2017 can make use of it.

Currency System



00:00:00

1. The Reserve Bank of India has sole right to issue currency note, it comes under _______ section of RBI Act 1934.
21
22
23
26
35
1). The Reserve Bank of India has sole right to issue currency note under section 22 of RBI Act 1934.
Answer: B
2. RBI can issue any note of any denominations but not exceeding Rs 10,000 this restriction is as per the provision of _______.
RBI Act 1934
Coinage act 1906
Banking regulation Act 1949
Companies Act 2013
Prevention of Money Laundering Act 2002
2).
Answer: B

3. Under Bretton Woods System, as a member of IMF, India declared its par value of rupee in terms of_______.
Australian Dollar
American Dollar
British Pound
Indian Rupee
Gold
3).
Answer: E

4. In India the decimal system of note and coin issue was started in _______.
1957
1947
1967
1937
1953
4).
Answer: A

5. In India _______ is responsible person to decide the quantity of the coins to be minted.
Government of India
President
Reserve bank of India
Finance secretary
SEBI
5).
Answer: A

6. Which of the following methods is currently used in India to issue note?
Percentage Reserve System
Fixed Fiduciary System
Minimum Reserve System
Proportional Reserve System
It will change time to time
6).
Answer: C

7. How many coin minting places are in India?
2
3
4
5
6
7). Coins are minted at the four Indian Government Mints that are Mumbai, Alipore (Kolkata), Saifabad (Hyderabad), Cherlapally (Hyderabad) and Noida (UP).
Answer: C

8. First country to introduce Plastic Currency Notes is _______.
USA
Australia
Germany
Canada
China
8).
Answer: B

9. The Reserve Bank has introduced banknotes in the Mahatma Gandhi Series since _______.
2003
1989
1996
1999
2005
9). The Reserve Bank has introduced banknotes in the Mahatma Gandhi Series since 1996 and has so far issued notes in the denominations of Rs.5, Rs.10, Rs.20, Rs.50, Rs.100, Rs.500, Rs 1000 and Rs.2000 in this series.
Answer: C

10. ‘Fall of the Rupee’ refers to
Inflation
Deflation
Devaluation of Indian Currency
Market stabilization
None of these
10).
Answer: C

11. 1000 rupee coins were minted to commemorate 1000 years of which of these temples?
Sidivinayak Temple
Madurai Meenakshi Temple
Puri Jaganath Temple
Brihadeeswara
Kasi Vishvanath Temple
11).Brihadeeswara Temple is located in Tanjavur, Tamil Nadu and is dedicated to Lord Shiva. It was built during the Chola Empire and is over 1000 years old. In the year 2010-11, the Reserve Bank of India minted ₹1000 coins to commemorate 1000 years of this temple.
Answer: D

12. Image of Himalayas can be seen on the reverse of which of these notes?
100
500
1000
2000
50
12).The 100 rupee banknote has image of Himalayas on the reverse.
Answer: A

13. The One Rupee note is issued by Ministry of Finance and it bears the signatures of _______.
Finance minister
Prime Minister
President
RBI Governor
Finance Secretary
13).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 Governor RBI.
Answer: E

14. How does the RBI estimate the demand for bank notes?
The growth rate of the economy
Reserve requirements by using statistical methods
The replacement demand
Both a and c
All the above
14).
Answer: E

15. RBI can withdraw the legal tender character of bank notes as per ________ of RBI Act, 1934.
Section 22
Section 23
Section 24
Section 25
Section 26
15).RBI can withdraw the legal tender character of bank notes as per Section 26(2) of RBI Act, 1934.
Answer: E





        
Click here for Topic wise Discussion on Quantitative Aptitude Day-1 
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