Banking GK Quiz Questions and Answers

Check below GK Quiz questions on banking awareness along with their answers. You must be preparing for General awareness section from different resources to crack your upcoming exams. Also add us as your premium resource to prepare GK section.

We have added 100+ GK questions and answers on banking and we will keep adding new questions based on the latest pattern of exams.

Banking Awareness GK Quiz Questions

Question: What is the position of India by GDP (nominal) according to International Monetary Fund list, 2012?

Ans. Tenth

Question: Which category of transaction has crossed 2 billion mark in the month of October?

Ans. UPI

Question: Which public sector bank has the largest number of branches in foreign countries?

Ans. Bank of Baroda

Question: Which bank is the first to introduce ATM in India?


Question: India signed a USD 500 Million agreement with which institution, for the ‘Delhi-Ghaziabad-Meerut Regional Rapid Transit System Project’?

Ans. NDB

Question: Which of the following banks was inaugurated by Mahatma Gandhi in 1919?

Ans. Union Bank of India

Question: In which year India adopted liberal and free-market principles?

Ans. 1991

Question: Who chairs the meeting of the Financial Stability and Development Council (FSDC)?

Ans. Finance Minister

Question: What are teaser loan rates charged by banks?

Ans. Low rate of interest in the initial period which goes up subsequently

Question: Which sector is the second largest source of employment in India?

Ans. Textile

Question: Which Government co-owns ‘OneWeb’, a Low Earth Orbit (LEO) satellite communications operator?

Ans. United Kingdom

Question: Expand the term EMI as used in banking/finance sector?

Ans. Equated Monthly Instalment

Question: Who presented the first Union Budget of Independent India?

Ans. R. K. Shanmukham Chetty

Question: Which institution cautioned against taking loans through unauthorised digital lending apps?

Ans. RBI

Question: With which type of loans are teaser rates related?

Ans. Home loans

Question: The inflation target is set by the central government, in consultation with the RBI, once in how many years?

Ans. Five

Question: What is the threshold for mandatory e-invoicing, as per the CBIC?

Ans. Rs 50 crore

Question: At which city is the Head Office of Reserve Bank of India located?

Ans. Mumbai

Question: When the statutory powers was given to Securities and Exchange Board of India?

Ans. 1992

Question: What is the name of the bond that offers dedicated insurance against volcanic eruptions?

Ans. Volcano Bonds

Question: In which year was the Imperial Bank of India rechristened as State Bank of India?

Ans. 1955

Question: In 2013 Union budget of India, in which category highest amount of money is allocated?

Ans. Defence

Question: As per a recent notification from the Finance Ministry, a basic savings bank account can be opened in which institution?

Ans. Post office

Question: The Imperial Bank of India, after its nationalization came to be known as?

Ans. State Bank of India

Question: When the Value Added Tax was first introduce in India?

Ans. 2005

Question: Which bank launched ‘Eva’ chatbot on CSCs Digital Seva Portal to support the Village Level Entrepreneurs (VLEs)?

Ans. HDFC Bank

Question: Which is the country’s third largest private sector lender whose name has been officially changed to the Axis Bank ltd.?

Ans. UTI Bank

Question: Who is the Chairman of Planning Commission?

Ans. Prime Minister

Question: Which bank has launched a MSME mentoring programme in West Bengal?

Ans. Indian Bank

Question: Expand the term LIBOR as used in financial banking sectors?

Ans. London Inter Bank Offered Rate

Question: Who has the sole right to issue bank notes of all denominations?

Ans. RBI

Question: Which organization has launched a campaign to promote contactless payments titled #FollowPaymentDistancing?

Ans. RuPay

Question: Regional Rural Banks were established in the year –

Ans. 1975

Question: By what percentage, India’s GDP has grown in Q1 FY ’22?

Ans. 20.1%

Question: With which of the following is SARFAESI Act 2002 related?

Ans. Recovery of bad loans

Question: Total number of approved stock exchanges in india?

Ans. 23

Question: With which bank, fintech player OneCard has partnered to launch a mobile-based credit card named mobile-first in India?

Ans. State Bank of Mauritus

Question: In which denomination were India’s first bimetallic coins issued in the year 2009?

Ans. Rs. 10

Question: Which organization has launched ‘UniTransact,’ a digital proposition aimed at simplifying cross-border transactions?

Ans. HSBC India

Question: Which country has agreed to accept the payment of export of oil and petroleum products to India, in rupee terms instead of dollar or any other currency?

Ans. Iran

Question: Which bank was established on the recommendations of Shivaraman Committee?


Question: Which bank has launched the country’s first comprehensive banking programme for millennials?

Ans. ICICI Bank

Question: Which agencies/organizations decided to cancel 122 Licenses of 2G Spectrum issued by the Government of India to various companies and asked the Government to do the process afresh?

Ans. supreme court of India

Question: How many zonal office does RBI has?

Ans. 4

Question: Which Indian company, along with UK based BP is to start Oil production from the deepest offshore gas field in Asia?

Ans. Reliance Industries Ltd

Question: Which of the following countries decided to add 3000 more centrifuges to its Uranium enrichment programs, despite touch economic sanctions on it from various western countries?

Ans. Iran

Question: The fiscal policy in india is formulated by?

Ans. Finance Ministry

Question: Who is the Chairperson of the advisory council set up by RBI to manage the Payments Infrastructure Development Fund (PIDF)?

Ans. B P Kanungo

Question: The Head Quarter of RBI is situated at?

Ans. Mumbai

Question: State Bank Of India before nationalisation was known as?

Ans. Imperial Bank of India

Question: The Reserve Bank of India (RBI) has imposed a monetary penalty of ₹2 crore, for deficiencies in regulatory compliance?

Ans. SBI

Question: Reserve Bank of India was nationalized in?

Ans. 1949

Question: Which one from below is one of the four cities where coins are producemoney-bag?

Ans. Hyderabad

Question: What is the estimated growth rate of India in FY 22, as per Oxford Economics?

Ans. 10.2%

Question: How many banks are there in public sector at present?

Ans. 27

Question: Which country shares the highest percentage of Indian imports?

Ans. China

Question: Which country, the Export-Import Bank of India (Exim Bank) has provided a soft loan of USD 100 million for the procurement of defence items?

Ans. Mauritius

Question: When was Exim Bank set up?

Ans. 1982

Question: Who was the chairman of National Income Committe appointed by Government of India in 1949?

Ans. P C Maharanobis

Question: With which organization, LIC Housing Finance Ltd has partnered to provide home loan products to over 4.5 crore customers?

Ans. India Post Payments Bank

Question: How many languages are used on a ten rupee note?

Ans. 15

Question: Which one is the largest source of revenue for the Indian Government?

Ans. Excise Duties

AU Small Finance Bank (SFB) has inked an MoU with NABARD for rural development initiatives in which state?

Ans. Rajasthan

Question: The abbreviation NABARD stands for?

Ans. National Bank for Agricultural and Rural Development

Question: Who had eastablished the Delhi School of Economics

Ans. V. K. R. V. Rao

Question: Which country exempted import inspection for Indian black tiger shrimps?

Ans. Japan

Question: The value of which of the following foreign currencies is maximum in terms of rupees?

Ans. British Pound

Question: Where the headquarters of NABARD (National Bank for Agriculture and Rural Development) is located?

Ans. Mumbai

Question: Which regulator in India has formed a committee to relook its information and security guidelines?


Question: Since 1983, the RBI’s responsibility with respect to Regional Rural Banks was transferred to?


Question: How many languages are printed in an Indian currency note?

Ans. 15

Question: Which state has proposed to control microfinance, by way of a state legislation?

Ans. Assam

Question: The only merger of two public sector banks took place between -?

Ans. Punjab National Bank and New Bank of India

Question: In which year, SBI was founded

Ans. 1956

Question: With which organization, WealthDesk has partnered to offer investment portfolios called ‘WealthBaskets?’

Ans. Paytm

Question: Which term is used in banking field?

Ans. Interest rate swap

Question: Which sector is the largest source of employment in India?

Ans. Agriculture

Question: After State Bank of India, which bank has the largest number of offices?

Ans. Punjab National Bank

Question: Bank rate is decided by which Bank?

Ans. Reserve Bank of India

Question: What does M in M-Banking Facility being offered by banks to their customers, stand for?

Ans. Mobile Phone

Question: The reserves held by Commercial Banks over and above the statutory minimum, with the RBI are called?

Ans. Excess reserves

Question: Banking in India is controlled by?

Ans. Reserve Bank of India

Question: Regional Rural Banks are sponsored by?

Ans. Nationalised Commercial Bank

Question: In which year was the Reserve Bank of India established?

Ans. 1935

Question: Which is the apex institution which handles refinance for agriculture and rural development in India?


Question: Which of the following is not the function of the Reserve Bank of India ?

Ans. Issuing of one rupee notes and coins

Question: The share of State Govt in the capital of Regional Rural Bank is –

Ans. 15%

Question: As per the newspaper reports Government of India has finally agreed to purchase advanced MRMRs for its naval forces. What are these MRMRs? 

Ans. Aircrafts

Question: The sensitive index of National Stock Exchange of India is popularly known as….


Question: The head office of the National Bank for Agriculture and Rural Development (NABARD) is located in?

Ans. Mumbai

Question: Which bank in India Performs duties of Central Bank?

Ans. Reserve Bank of India

Question: Which of the following is called a Bankers Cheque?

Ans. Demand Draft

Question: Which one of the following is NOT a function of Reserve Bank of India?

Ans. Credit creation

Question: Monetary Policy refers to the policy of?

Ans. Central Bank

Question: Which of the following is a formal source of credit?

Ans. Commercial Bank

Question: The Head of the State Bank of India (SBI) is designated as?

Ans. Chairman

Question: Expand the term LIBOR?

Ans. London Inter Bank Offered Rate

Question: India has different categories of commercial banks which one such category is not in India?

Ans. Commodity Banks

Question: When the first Economic Census was done in India?

Ans. 1977

Question: Where the headquarters of SEBI is located?

Ans. Mumbai

Question: In India, who determines the repo rate?

Ans. RBI

Question: The Planning Commission of India is a?

Ans. A non-Statutory body

Question: During which Planning Commission period, NABARD was established?

Ans. Sixth

Question: Arundhati Bhattacharya is the first woman Chairperson of?

Ans. SBI

Question: What is ‘DigiBoxx’ that was recently launched by the CEO of NITI Aayog?

Ans. Asset management platform

Question: As per the IMF’s recent statement, what is India’s debt to GDP ratio during the Covid-19 pandemic?

Ans. 90 percent

Question: Which organization has launched eShield Next life insurance product?

Ans. SBI Life Insurance

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