These essential MCQ questions are selected from the most important topics in IBPS PO, IBPS Clerk, SBI PO, SBI Clerk and RBI Grade B examinations 2026. Sections include Banking Awareness, Quantitative Aptitude, English Language and Reasoning Ability. For truely unlimited daily MCQ practice, visit Vooo AI Education.
🏦 Banking Awareness
1IBPS stands for:
Answer: B — Institute of Banking Personnel Selection
IBPS conducts examinations for recruitment to various posts in public sector banks across India.
IBPS conducts examinations for recruitment to various posts in public sector banks across India.
2The Reserve Bank of India was established in:
Answer: A — 1935
The Reserve Bank of India was established on 1 April 1935 under the Reserve Bank of India Act, 1934.
The Reserve Bank of India was established on 1 April 1935 under the Reserve Bank of India Act, 1934.
3Which is the largest public sector bank in India?
Answer: A — State Bank of India
SBI is the largest public sector bank in India by assets, deposits, branches, customers and employees.
SBI is the largest public sector bank in India by assets, deposits, branches, customers and employees.
4CRR stands for:
Answer: B — Cash Reserve Ratio
CRR is the percentage of a bank's total deposits that must be kept with the RBI as cash reserves. It is a monetary policy tool.
CRR is the percentage of a bank's total deposits that must be kept with the RBI as cash reserves. It is a monetary policy tool.
5SLR stands for:
Answer: A — Statutory Liquidity Ratio
SLR is the minimum percentage of deposits that banks must maintain in the form of gold, cash or government securities.
SLR is the minimum percentage of deposits that banks must maintain in the form of gold, cash or government securities.
6The repo rate is the rate at which:
Answer: B — RBI lends to commercial banks
The Repo Rate is the interest rate at which RBI lends money to commercial banks in exchange for government securities. Lowering repo rate reduces borrowing costs.
The Repo Rate is the interest rate at which RBI lends money to commercial banks in exchange for government securities. Lowering repo rate reduces borrowing costs.
7NEFT stands for:
Answer: B — National Electronic Funds Transfer
NEFT is a payment system operated by RBI that allows individuals and institutions to transfer funds between banks. It operates 24×7.
NEFT is a payment system operated by RBI that allows individuals and institutions to transfer funds between banks. It operates 24×7.
8Which bank was nationalised first in India?
Answer: C — 14 banks nationalised together in 1969
In 1969, PM Indira Gandhi nationalised 14 major commercial banks. In 1980, 6 more banks were nationalised. SBI was formed in 1955 from Imperial Bank.
In 1969, PM Indira Gandhi nationalised 14 major commercial banks. In 1980, 6 more banks were nationalised. SBI was formed in 1955 from Imperial Bank.
9UPI stands for:
Answer: B — Unified Payments Interface
UPI is a real-time payment system developed by NPCI (National Payments Corporation of India) that allows instant money transfers through mobile phones.
UPI is a real-time payment system developed by NPCI (National Payments Corporation of India) that allows instant money transfers through mobile phones.
10NPCI stands for:
Answer: B — National Payments Corporation of India
NPCI operates retail payments and settlement systems in India. It launched UPI, RuPay cards, IMPS and other payment systems.
NPCI operates retail payments and settlement systems in India. It launched UPI, RuPay cards, IMPS and other payment systems.
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