Banking General Awareness

Introduction:
Banking general awareness covers essential concepts related to banking, finance, and the economy. It is crucial for competitive exams, interviews, and daily life financial decisions.

One-Liner Questions on Banking General Awareness:

1. What is the full form of RBI?
2. Who is the current Governor of RBI?
3. What does CRR stand for in banking terms?
4. What is a demand deposit account?
5. What is NEFT in banking?
6. What does IFSC stand for?
7. What is the purpose of a savings account?
8. What is the function of a commercial bank?
9. What is a scheduled bank?
10. What is KYC in banking?
11. What is a fixed deposit?
12. What is a recurring deposit?
13. What is the meaning of repo rate?
14. What is a reverse repo rate?
15. What is financial inclusion?
16. What does RTGS stand for?
17. What is a debit card?
18. What is a credit card?
19. What is a checkbook?
20. What is a bank statement?
21. What is net banking?
22. What is mobile banking?
23. What is a loan in banking?
24. What is a home loan?
25. What is a personal loan?
26. What is a mortgage?
27. What is digital banking?
28. What is a banking license?
29. What is meant by the term ‘liquidity’?
30. What is a non-performing asset (NPA)?
31. What is a mutual fund?
32. What is a savings bond?
33. What is a demand draft?
34. What is the meaning of ATM?
35. What is SWIFT in banking?
36. What is a cheque?
37. What is a bearer cheque?
38. What is a crossed cheque?
39. What is a post-dated cheque?
40. What is an overdraft facility?
41. What is a current account?
42. What is internet banking?
43. What is balance transfer in banking?
44. What is an EMI?
45. What is microfinance?
46. What is financial literacy?
47. What is a banking ombudsman?
48. What is the purpose of a credit score?
49. What is asset management?
50. What is risk management in banking?
51. What is forex trading?
52. What is the meaning of fiscal deficit?
53. What is a budget in banking terms?
54. What is inflation?
55. What is deflation?
56. What is a stock market?
57. What is an IPO?
58. What is SEBI?
59. What is a financial institution?
60. What is financial regulation?
61. What is a bank merger?
62. What is an interest rate?
63. What is compound interest?
64. What is simple interest?
65. What is a public sector bank?
66. What is a private sector bank?
67. What is banking fraud?
68. What is cryptocurrency?
69. What is blockchain technology?
70. What is an exchange rate?
71. What is GDP?
72. What is GNP?
73. What is national income?
74. What is economic growth?
75. What is a monetary policy?
76. What is a fiscal policy?
77. What is a loan default?
78. What is a credit rating?
79. What is the purpose of insurance?
80. What is life insurance?
81. What is general insurance?
82. What is health insurance?
83. What is term insurance?
84. What is banking regulation?
85. What is investment banking?
86. What is retail banking?
87. What is wholesale banking?
88. What is priority sector lending?
89. What is MSME?
90. What is a cooperative bank?
91. What is a payment bank?
92. What is a small finance bank?
93. What is bank nationalization?
94. What is financial stability?
95. What is a credit bureau?
96. What is a clearinghouse?
97. What is mobile wallet?
98. What is cash reserve ratio?
99. What is statutory liquidity ratio?
100. What is money laundering?

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Answers to Questions on Banking General Awareness

1. Reserve Bank of India
2. Shaktikanta Das (as of 2024)
3. Cash Reserve Ratio
4. An account that allows withdrawals on demand.
5. National Electronic Funds Transfer
6. Indian Financial System Code
7. To save money with interest.
8. Accepts deposits and provides loans.
9. A bank included in the second schedule of the RBI Act.
10. Know Your Customer
11. A fixed-term deposit with higher interest.
12. A monthly deposit account.
13. Rate at which RBI lends to banks.
14. Rate at which RBI borrows from banks.
15. Providing banking services to all.
16. Real-Time Gross Settlement
17. A card linked to a bank account.
18. A card that provides credit.
19. A book containing bank cheques.
20. A summary of account transactions.
21. Online banking services.
22. Banking through a mobile app.
23. Borrowed money from a bank.
24. A loan for purchasing a house.
25. An unsecured loan.
26. A loan secured by property.
27. Online banking services.
28. Permission to operate a bank.
29. Availability of cash or assets.
30. Loans or advances not repaid.
31. An investment fund.
32. A government-issued bond.
33. A pre-paid negotiable instrument.
34. Automated Teller Machine
35. Society for Worldwide Interbank Financial Telecommunication
36. A written banking instrument.
37. Payable to the bearer.
38. A secured cheque.
39. Dated for future payment.
40. Borrowing facility beyond the balance.
41. A business transaction account.
42. Online account management.
43. Transferring debt from one bank to another.
44. Equated Monthly Installment
45. Small loans for underserved communities.
46. Financial knowledge and skills.
47. Grievance redressal officer for banks.
48. Measures creditworthiness.
49. Managing financial assets.
50. Identifying and managing risks.
51. Currency trading.
52. Excess of expenditure over revenue.
53. Financial planning document.
54. Rise in prices.
55. Fall in prices.
56. Market for buying and selling stocks.
57. Initial Public Offering
58. Securities and Exchange Board of India
59. Institution providing financial services.
60. Rules for financial operations.

Key Takeaways:

One-Liner Questions (61-100) on Banking General Awareness:

61. What is a bank merger?
62. What is an interest rate?
63. What is compound interest?
64. What is simple interest?
65. What is a public sector bank?
66. What is a private sector bank?
67. What is banking fraud?
68. What is cryptocurrency?
69. What is blockchain technology?
70. What is an exchange rate?
71. What is GDP?
72. What is GNP?
73. What is national income?
74. What is economic growth?
75. What is a monetary policy?
76. What is a fiscal policy?
77. What is a loan default?
78. What is a credit rating?
79. What is the purpose of insurance?
80. What is life insurance?
81. What is general insurance?
82. What is health insurance?
83. What is term insurance?
84. What is banking regulation?
85. What is investment banking?
86. What is retail banking?
87. What is wholesale banking?
88. What is priority sector lending?
89. What is MSME?
90. What is a cooperative bank?
91. What is a payment bank?
92. What is a small finance bank?
93. What is bank nationalization?
94. What is financial stability?
95. What is a credit bureau?
96. What is a clearinghouse?
97. What is mobile wallet?
98. What is cash reserve ratio?
99. What is statutory liquidity ratio?
100. What is money laundering?

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Answers:

61. Bank Merger: Combining two or more banks into one.
62. Interest Rate: The percentage charged on loans or paid on deposits.
63. Compound Interest: Interest calculated on both principal and previously earned interest.
64. Simple Interest: Interest calculated only on the principal amount.
65. Public Sector Bank: A bank owned by the government.
66. Private Sector Bank: A bank owned by private entities or individuals.
67. Banking Fraud: Illegal activities involving money or bank transactions.
68. Cryptocurrency: A digital or virtual currency secured by cryptography.
69. Blockchain Technology: A decentralized digital ledger for secure transactions.
70. Exchange Rate: The value of one currency in terms of another.
71. GDP (Gross Domestic Product): The total value of goods and services produced in a country.
72. GNP (Gross National Product): GDP plus income from abroad.
73. National Income: The total income earned by a country’s citizens.
74. Economic Growth: Increase in a country’s economic production.
75. Monetary Policy: Central bank policies controlling money supply and interest rates.
76. Fiscal Policy: Government spending and taxation policies.
77. Loan Default: Failure to repay a loan on time.
78. Credit Rating: Assessment of creditworthiness assigned by a credit agency.
79. Purpose of Insurance: To provide financial protection against risks or losses.
80. Life Insurance: Coverage for life-related financial risks.
81. General Insurance: Insurance for non-life risks like property, health, and vehicles.
82. Health Insurance: Coverage for medical expenses.
83. Term Insurance: Life insurance for a specific term without maturity benefits.
84. Banking Regulation: Rules and standards for banks set by regulatory authorities.
85. Investment Banking: Banking services related to investments, IPOs, and capital raising.
86. Retail Banking: Banking services for individuals and small businesses.
87. Wholesale Banking: Banking services for large businesses and institutions.
88. Priority Sector Lending: Lending to sectors deemed important by the government (e.g., agriculture).
89. MSME (Micro, Small, and Medium Enterprises): Small businesses crucial for economic growth.
90. Cooperative Bank: A bank owned by its members offering loans and financial services.
91. Payment Bank: A bank offering limited banking services, including digital payments.
92. Small Finance Bank: A bank focusing on financial services for small businesses and low-income groups.
93. Bank Nationalization: Government takeover of privately-owned banks.
94. Financial Stability: A state where the financial system operates efficiently without major disruptions.
95. Credit Bureau: An organization that tracks credit histories of individuals and businesses.
96. Clearinghouse: An intermediary that processes financial transactions between banks.
97. Mobile Wallet: A digital wallet for online payments using a smartphone.
98. Cash Reserve Ratio (CRR): The percentage of a bank’s reserves that must be held with the central bank.
99. Statutory Liquidity Ratio (SLR): The percentage of reserves banks must keep in liquid assets.
100. Money Laundering: The process of illegally disguising money obtained from criminal activities.

Key Takeaways: Banking General Awareness

1. Learn banking and finance terms regularly.
2. Understand banking regulations and policies.
3. Stay updated with the latest RBI announcements.
4. Focus on banking products and their features.
5. Learn about different types of loans and deposits.
6. Understand financial literacy concepts.
7. Prepare well for banking exams with mock tests.
8. Stay informed about digital banking advancements.
9. Follow national and international banking news.
10. Develop an understanding of banking fraud prevention.

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