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NABARD Grade A Banking Awareness Questions with Answers & Explanations

20 Banking Awareness questions from the General Awareness & Economy section of NABARD Grade A, each with the correct answer and a worked explanation. Try each question first, then tap Show answer to check. When you're ready, take the timed chapter-wise test to see your all-India rank.

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Question 1

NEFT stands for

  1. ANational Electronic Funds Transfer
  2. BNational Electronic Financial Transfer
  3. CNew Electronic Funds Transaction
  4. DNational E-Funds Transmission
  5. ENone of these
Show answer
Answer: (A) National Electronic Funds Transfer
Question 2

NABARD is the apex bank for

  1. AAgriculture and rural development
  2. BSmall industries only
  3. CForeign trade
  4. DHousing finance
  5. ENone of these
Show answer
Answer: (A) Agriculture and rural development
Question 3

CRR is the share of deposits banks must keep with the

  1. ATheir own branches as loans
  2. BSEBI
  3. CGovernment
  4. DRBI
  5. ENone of these
Show answer
Answer: (D) RBI
Question 4

UPI was developed by the

  1. AReserve Bank of India
  2. BNational Payments Corporation of India
  3. CSEBI
  4. DState Bank of India
  5. ENone of these
Show answer
Answer: (B) National Payments Corporation of India
Question 5

ATM stands for

  1. AAutomatic Transaction Machine
  2. BAutomated Teller Machine
  3. CAny Time Money
  4. DAutomated Transfer Mode
  5. ENone of these
Show answer
Answer: (B) Automated Teller Machine
Question 6

MICR code on a cheque is used for

  1. AATM withdrawals
  2. BFaster cheque processing
  3. CForeign exchange
  4. DLoan approval
  5. ENone of these
Show answer
Answer: (B) Faster cheque processing
Question 7

A bank that has a presence in many countries is called a

  1. ACooperative bank
  2. BPayments bank
  3. CRegional rural bank
  4. DMultinational bank
  5. ENone of these
Show answer
Answer: (D) Multinational bank
Question 8

A cheque is valid for how long from the date of issue?

  1. A1 year
  2. B1 month
  3. C3 months
  4. D6 months
  5. ENone of these
Show answer
Answer: (C) 3 months
Question 9

IFSC code has how many characters?

  1. A8
  2. B10
  3. C11
  4. D12
  5. ENone of these
Show answer
Answer: (C) 11
Question 10

Which instrument is used by RBI to control the money supply?

  1. AGST
  2. BImport duty
  3. COpen market operations
  4. DIncome tax
  5. ENone of these
Show answer
Answer: (C) Open market operations

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Question 11

The reverse repo rate is the rate at which

  1. ABanks lend to customers
  2. BBanks borrow from RBI
  3. CGovernment borrows from abroad
  4. DRBI borrows from banks
  5. ENone of these
Show answer
Answer: (D) RBI borrows from banks
Question 12

Payments banks can accept deposits but cannot

  1. AOffer internet banking
  2. BLend money
  3. CIssue debit cards
  4. DAccept salaries
  5. ENone of these
Show answer
Answer: (B) Lend money
Question 13

The minimum amount for an RTGS transaction is

  1. ANo minimum
  2. B₹1 lakh
  3. C₹2 lakh
  4. D₹50,000
  5. ENone of these
Show answer
Answer: (C) ₹2 lakh
Question 14

SIDBI mainly supports the

  1. AHousing sector
  2. BAgriculture sector
  3. CExport of oil
  4. DMicro, small and medium enterprise sector
  5. ENone of these
Show answer
Answer: (D) Micro, small and medium enterprise sector
Question 15

MICR code on a cheque is used for

  1. AFaster cheque processing
  2. BATM withdrawals
  3. CForeign exchange
  4. DLoan approval
  5. ENone of these
Show answer
Answer: (A) Faster cheque processing
Question 16

KYC stands for

  1. AKey Your Code
  2. BKnow Your Customer
  3. CKnow Your Credit
  4. DKeep Your Cash
  5. ENone of these
Show answer
Answer: (B) Know Your Customer
Question 17

The headquarters of SIDBI is in

  1. ALucknow
  2. BNew Delhi
  3. CMumbai
  4. DChennai
  5. ENone of these
Show answer
Answer: (A) Lucknow
Question 18

IFSC code has how many characters?

  1. A8
  2. B12
  3. C10
  4. D11
  5. ENone of these
Show answer
Answer: (D) 11
Question 19

NEFT stands for

  1. ANew Electronic Funds Transaction
  2. BNational E-Funds Transmission
  3. CNational Electronic Financial Transfer
  4. DNational Electronic Funds Transfer
  5. ENone of these
Show answer
Answer: (D) National Electronic Funds Transfer
Question 20

NABARD is the apex bank for

  1. AForeign trade
  2. BSmall industries only
  3. CAgriculture and rural development
  4. DHousing finance
  5. ENone of these
Show answer
Answer: (C) Agriculture and rural development

These are RankerClub practice questions written in the NABARD Grade A pattern. They are not official SSC/IBPS/RRB papers.

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