Banking Awareness

JKSSB Finance Accounts Assistant · Accountancy & Book-Keeping · 23 practice questions with answers and explanations: 8 Easy, 10 Medium, 5 Hard.

Sample questions

Sample Easy question 1

What does 'NEFT' stand for in Indian banking?

  1. National Electronic Funds Transfer
  2. National Exchange Fund Transaction
  3. Net Electronic Fund Transaction
  4. National Economic Funds Transfer
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Answer: A. NEFT stands for National Electronic Funds Transfer, a system for transferring funds between bank accounts.

Sample Medium question 2

What is the primary function of NABARD?

  1. Providing credit and development support for agriculture and rural sectors
  2. Regulating the stock market
  3. Issuing currency notes
  4. Collecting income tax
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Answer: A. NABARD (National Bank for Agriculture and Rural Development) supports agricultural and rural credit and development.

Sample Hard question 3

What is the primary purpose of the Cash Reserve Ratio (CRR) set by the RBI?

  1. To ensure banks keep a minimum percentage of deposits as reserves with the RBI
  2. To set the interest rate on loans
  3. To regulate foreign exchange
  4. To issue currency notes
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Answer: A. CRR is the minimum percentage of a bank's deposits that must be kept as reserves with the RBI, used as a monetary policy tool.

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