Practice these Banking (IBPS/SBI PO & Clerk) style MCQs covering Banking Awareness, Quantitative Aptitude, and Reasoning. Each question includes the correct answer — click “Show Answer” to reveal it after attempting.
Practice Questions
1. Who is the current regulatory body for banks in India?
a) SEBI b) RBI c) IRDAI d) NABARD
Show Answer
b) RBI
2. What does NEFT stand for?
a) National Electronic Funds Transfer b) National Exchange Funds Transaction c) Net Electronic Fund Transfer d) National Efficient Fund Transfer
Show Answer
a) National Electronic Funds Transfer
3. Simple interest on Rs. 5,000 at 8% p.a. for 2 years is:
a) Rs. 400 b) Rs. 800 c) Rs. 600 d) Rs. 1000
Show Answer
b) Rs. 800
4. The Statutory Liquidity Ratio (SLR) is maintained by banks in the form of:
a) Cash only b) Gold and approved securities c) Foreign currency d) Fixed deposits
Show Answer
b) Gold and approved securities
5. Which was the first bank to be nationalized in India (1955)?
a) State Bank of India b) Punjab National Bank c) Bank of India d) Central Bank of India
Show Answer
a) State Bank of India
6. In the series 5, 10, 20, 40, ?, the next term is:
a) 60 b) 70 c) 80 d) 50
Show Answer
c) 80
7. The apex institution for agricultural and rural credit in India is:
a) RBI b) NABARD c) SIDBI d) NHB
Show Answer
b) NABARD
8. Repo rate is the rate at which:
a) RBI lends to commercial banks b) Banks lend to RBI c) Banks lend to customers d) Government borrows from RBI
Show Answer
a) RBI lends to commercial banks
Frequently Asked Questions
Are these questions enough for banking exam preparation?
These are practice samples to test your basic understanding. Full preparation requires structured practice across all sections and previous year papers.
How often is this MCQ set updated?
We regularly add new practice sets. Check back often or visit our blog for study strategy guides.
Explore more exam practice on our homepage under the Competitive Exams section.