Banking Awareness Set 61 (Demonitization)

Banking Awareness on Demonitisation

Important Banking Awareness Questions on demonetization for SBI PO, IBPS PO, NIACL, LIC, RBI, RRB PO Clerk, IPPB and other competitive exams. Banking Awareness All about demonetization

  1. In which year first demonetization of Bank notes by RBI was done?
    A) 1946
    B) 1947
    C) 1978
    D) 1982
    View Answer
    Option A
    Explanation
    : 12 Jan 1946
  2. After Independence of India, how many times demonetization of bank note has been done by GOI/RBI?
    A) 1
    B) 2
    C) 3
    D) 4
    View Answer
    Option B
    Explanation
    : 16 Jan, 1978 and 9 November 2016. Overall 3 times, one in 1946
  3. In which year Rs 5,000 note was demonitised?
    A) 1946
    B) 1978
    C) 1982
    D) 2016
    View Answer
    Option B
    Explanation
    : 1978- Rs 1,000, Rs 5,000 and Rs 10,000
  4. RBI can withdraw the legal tender character of bank notes as per ________ of RBI Act, 1934
    A) Section 24(1)
    B) Section 24(2)
    C) Section 26(2)
    D) Section 28(2)
    View Answer
    Option C
    Explanation
    : RBI can withdraw the legal tender character of bank notes as per Section 26(2) of RBI Act, 1934
  5. During the grace period to exchange demonetized bank notes, the deposit facility is available at how many RBI offices (Demonetization of 2016)?
    A) 4
    B) 5
    C) 6
    D) 7
    View Answer
    Option B
    Explanation
    : Five; Mumbai, New Delhi, Chennai, Kolkata, and Nagpur
  6. What is the deadline for non- resident Indians to deposit Specified Bank Notes(SBN) (Demonetization of 2016)?
    A) July 1, 2017
    B) July 31, 2017
    C) June 1, 2017
    D) June 30, 2017.
    View Answer
    Option D
    Explanation
    : • For non- resident Indians (Indian passport holders), the grace period to deposit SBN is till June 30, 2017.  
  7. What is the maximum amount of Specified Bank Notes(SBN) that non- resident Indians can deposit with RBI (Demonetization of 2016)?
    A) Rs 20,000
    B) Rs 50,000
    C) Rs 25,000
    D) Rs 35,000
    View Answer
    Option C
    Explanation
    : Maximum Rs 25,000. This facility will not be available for Indian citizens resident in Nepal, Bhutan, Pakistan and Bangladesh
  8. After the expiry of grace period, what is the maximum number of Specified Bank Notes(SBN) that one can keep for study/ research/ numismatics purpose (Demonetization of 2016)?
    A) 5
    B) 10
    C) 15
    D) 25
    View Answer
    Option D
    Explanation
    : 25 for study/ research/ numismatics purpose; and maximum 10 for others
  9. Who among the following RBI governors was not the governor of RBI during which demonitisation took place in India?
    A) Urjit Patel
    B) I. G. Patel
    C) M. Narasimham
    D) C. D. Deshmukh
    View Answer
    Option C
    Explanation
    : 1946- C. D. Deshmukh; 1978- I. G. Patel ; 2017- Urjit Patel
  10. During demonetization period, RBI instructed banks to provide at least ___ percent of cash to rural area (Demonetization of 2016)?
    A) 20%
    B) 25%
    C) 30%
    D) 40%
    View Answer
    Option D
    Explanation
    : 40%

 

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9 Thoughts to “Banking Awareness Set 61 (Demonitization)”

  1. Kinny ^.^

    Thank you so much aspirantszone for quality study material !!

  2. •?((¯°·._.• ค๓๒เкค •._.·°¯))؟•

    thankyou sir :))

    1. sachin shukla@Target SBI Mains

      @@disqus_k8yOhOGtNz:disqus how r ur mains prpration going on????

      1. •?((¯°·._.• ค๓๒เкค •._.·°¯))؟•

        good 🙂

  3. AVI™ (Sinchen loveR)

    Thnxxx

  4. sachin shukla@Target SBI Mains

    waaooo super questions
    thankuuu Az

  5. Ambika

    thankyou :))

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