🎯 RankerClub is 100% Free — 97 full-length mock tests with an instant all-India rank. Register Free →
RankerClub
Log in Get Started Free
Log in Register Free

RPSC RAS Banking Awareness Questions with Answers & Explanations

20 Banking Awareness questions from the Economy section of RPSC RAS, 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.

Take the Economy test → RPSC RAS full mocks
Question 1

KYC stands for

  1. AKnow Your Customer
  2. BKey Your Code
  3. CKnow Your Credit
  4. DKeep Your Cash
Show answer
Answer: (A) Know Your Customer
Question 2

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

  1. ACooperative bank
  2. BMultinational bank
  3. CPayments bank
  4. DRegional rural bank
Show answer
Answer: (B) Multinational bank
Question 3

Deposit insurance in India is provided by

  1. ADICGC
  2. BIRDAI
  3. CSEBI
  4. DLIC
Show answer
Answer: (A) DICGC
Question 4

CIBIL is associated with

  1. ACredit scores
  2. BInsurance claims
  3. CTax returns
  4. DStock trading
Show answer
Answer: (A) Credit scores
Question 5

The headquarters of NABARD is in

  1. AMumbai
  2. BLucknow
  3. CNew Delhi
  4. DHyderabad
Show answer
Answer: (A) Mumbai
Question 6

NPA stands for

  1. ANew Payment Arrangement
  2. BNon-Performing Asset
  3. CNet Profit Account
  4. DNational Payment Authority
Show answer
Answer: (B) Non-Performing Asset
Question 7

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

  1. A6 months
  2. B3 months
  3. C1 year
  4. D1 month
Show answer
Answer: (B) 3 months
Question 8

NEFT stands for

  1. ANew Electronic Funds Transaction
  2. BNational Electronic Financial Transfer
  3. CNational Electronic Funds Transfer
  4. DNational E-Funds Transmission
Show answer
Answer: (C) National Electronic Funds Transfer
Question 9

NABARD is the apex bank for

  1. ASmall industries only
  2. BAgriculture and rural development
  3. CHousing finance
  4. DForeign trade
Show answer
Answer: (B) Agriculture and rural development
Question 10

A "Bank Rate" is the rate at which RBI

  1. APays interest on savings accounts
  2. BBuys foreign currency
  3. CLends to the public
  4. DLends long-term funds to banks
Show answer
Answer: (D) Lends long-term funds to banks

Ready for the real thing?
Timed Economy test · 15 questions · instant rank

Start free test
Question 11

The "lender of last resort" in India is the

  1. ARBI
  2. BNABARD
  3. CSBI
  4. DFinance Ministry
Show answer
Answer: (A) RBI
Question 12

SLR refers to the share of deposits banks must keep as

  1. ALoans to farmers
  2. BForeign currency
  3. CLiquid assets such as cash, gold and government securities
  4. DDeposits with RBI only
Show answer
Answer: (C) Liquid assets such as cash, gold and government securities
Question 13

SIDBI mainly supports the

  1. AExport of oil
  2. BHousing sector
  3. CMicro, small and medium enterprise sector
  4. DAgriculture sector
Show answer
Answer: (C) Micro, small and medium enterprise sector
Question 14

Pradhan Mantri Jan Dhan Yojana is a scheme for

  1. ASkill development
  2. BCrop insurance
  3. CFinancial inclusion through bank accounts
  4. DHousing for all
Show answer
Answer: (C) Financial inclusion through bank accounts
Question 15

The minimum amount for an RTGS transaction is

  1. ANo minimum
  2. B₹50,000
  3. C₹2 lakh
  4. D₹1 lakh
Show answer
Answer: (C) ₹2 lakh
Question 16

KYC stands for

  1. AKnow Your Credit
  2. BKeep Your Cash
  3. CKey Your Code
  4. DKnow Your Customer
Show answer
Answer: (D) Know Your Customer
Question 17

Under DICGC, deposits are insured up to

  1. A₹10 lakh per account
  2. B₹1 lakh per depositor
  3. C₹5 lakh per depositor per bank
  4. DThe full amount
Show answer
Answer: (C) ₹5 lakh per depositor per bank
Question 18

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

  1. AIncome tax
  2. BGST
  3. CImport duty
  4. DOpen market operations
Show answer
Answer: (D) Open market operations
Question 19

Deposit insurance in India is provided by

  1. ASEBI
  2. BLIC
  3. CIRDAI
  4. DDICGC
Show answer
Answer: (D) DICGC
Question 20

MICR code on a cheque is used for

  1. ALoan approval
  2. BFaster cheque processing
  3. CATM withdrawals
  4. DForeign exchange
Show answer
Answer: (B) Faster cheque processing

These are RankerClub practice questions written in the RPSC RAS pattern. They are not official SSC/IBPS/RRB papers.

More Economy topics

Economy 20 Qs

All RPSC RAS topics →