February 2017 banking awareness-6

Q1. NABARD was dedicated to the service of the nation by the late Prime Minister Smt. Indira Gandhi on-

(a) 12th July 1982

(b) 01st January 1949

(c) 19th July 1980

(d) 15th April 1969

(e) 05th November 1982

Q2. The mission of NABARD is to Promote sustainable and equitable agriculture and rural prosperity through effective credit support, related services, institution development and other innovative initiatives. What is the meaning of "R" IN NABARD?

(a) Regional

(b) Rural

(c) Reconstruction

(d) Revised

(e) Remittance

Q3. SAT is a statutory body established under the provisions of Section 15K of the Securities and Exchange Board of India (SEBI) Act, 1992. SAT stands for-

(a) Securities Appellate Tribunal

(b) Securities Appellate Treaty

(c) Securities Association Tribunal

(d) Saving Appellate Tribunal

(e) None of the given options is true

Q4. The Securities and Exchange Board of India (SEBI) was established on- 

(a)  12th April 1999

(b)  12th April 1992

(c)  12th April 1949

(d)  12th April 1990

(e)  12th April 1995

Q5. NABARD was set up with an initial capital of-

(a) Rs 200 crore 

(b) Rs 1500 crore

(c) Rs 500 crore  

(d) Rs 100 crore

(e) Rs 1000 crore 

Q6. Which organisation holding the highest/maximum share in NABARD as on 31st March 2015?

(a) Finance Ministry 

(b) Government of India

(c) Reserve Bank of India

(d) Securities and Exchange Board of India

(e) None of the given options is true

Q7. Who is the present Chairman of SEBI?

(a) Upendra Kumar Sinha

(b) Kshatrapati Shivaji

(c) Yaduvendra Mathur

(d) Shaktikanta Das

(e) Urjit Patel

Q8. NABARD's affairs are governed by a Board of Directors. The Board of Directors is appointed by the Government of India in consonance with NABARD Act. Who is the present Chairman of NABARD?

(a) Arvind Subramanian

(b) Rana Kapoor

(c) Arundhati Bhattacharya

(d) Raghuram Rajan

(e) Harsh Kumar Bhanwala

Q9. Name the organisation, which mission is to promote sustainable and equitable agriculture and rural prosperity through effective credit support, related services, institution development and other innovative initiatives?

(a) SEBI

(b) RBI

(c) SIDBI

(d) NABARD

(e) FICCI

Q10. At the instance of Government of India Reserve Bank of India (RBI) was constituted a committee to review the arrangements for institutional credit for agriculture and rural development (CRAFICARD) on 30 March 1979, under the Chairmanship of-

(a) V K Malhotra

(b) C Rangarajan

(c) B Sivaraman

(d) Hilton Young

(e) None of the given options is true

Q11. The Government of India, the concerned State Government and the bank, which had sponsored the RRB contributed to the share capital of RRBs in the proportion of ________________ respectively. 

(a) 50%, 15% and 35%

(b) 50%, 35% and 15% 

(c) 35%, 50% and 35% 

(d) 15%, 50% and 35% 

(e) None of the given options is true

Q12. Regional Rural Banks (RRBs) were established in 1975 under the provisions of the Ordinance promulgated on the 26th September 1975 and followed by which act?

(a) Companies Act, 1956

(b) RRBs Act, 1976

(c) RBI Act, 1935

(d) Banking Regulation Act, 1949

(e) None of the given options is true

Q13. FICCI is the largest and oldest apex business organisation in India. (FICCI) was established in-

(a) 1913

(b) 1919

(c) 1927

(d) 1935

(e) 1949

Q14. FICCI history is closely interwoven with India's struggle for independence, its industrialisation, and its emergence as one of the most rapidly growing global economies. What is the meaning of "F" in FICCI?

(a) Follower

(b) Federal

(c) Financial

(d) Federation

(e) None of the given options is true

Q15. In which of the following cities, The Head Office of FICCI is located?

(a) Hyderabad

(b) Chennai

(c) Kolkata

(d) Mumbai

(e) New Delhi

February 2017 banking awareness-5

Q1. PSLCs are tradable certificates issued against priority sector loans of banks. What does meaning of "Cs" in PSLCs?

(a) Cash

(b) Cities

(c) Census

(d) Certificates

(e) None of the given options is true

Q2. The Banking Ombudsman Scheme is introduced under Section 35 (A) of the Banking Regulation Act, 1949 by RBI with effect from -

(a) 1995

(b) 1999

(c) 1990

(d) 1982

(e) 1988

Q3. MTSS is a way of transferring personal remittances from abroad to beneficiaries in India. What does MTSS stand for-?

(a) Mobile Transfer Service Scheme 

(b) Money Transfer System Scheme 

(c) Money Timing Service Scheme 

(d) Market Transfer Service Scheme 

(e) Money Transfer Service Scheme

Q4. How much cash can payment be made to the beneficiary in India under MTSS? 

(a) Rs 2, 00,000

(b) Rs 50,000

(c) Rs 1, 00,000

(d) Rs 10,000

(e) None of the given options is true

Q5. RDA is a channel to receive cross-border remittances from overseas jurisdictions. What does meaning of "A" in RDA?

(a) Account

(b) Assembly

(c) Arrangement 

(d) Association

(e) Amount

Q6. At present 24 nationalised banks and one private sector bank are authorised to handle the Senior Citizens Savings Scheme (SCSS), 2004. Name the private sector bank, which is authorised to handle the Senior Citizens Savings Scheme (SCSS), 2004?

(a) ICICI bank

(b) HDFC Bank

(c) Axis Bank

(d) Yes Bank

(e) Kotak Mahindra Bank

Q7. The Government of India has enacted the Micro, Small and Medium Enterprises Development (MSMED) Act, 2006 in terms of which the definition of micro, small and medium enterprises. As under a micro enterprise is an enterprise where investment in plant and machinery does not exceed ..............?

(a) Rs. 100 lakh

(b) Rs. 15 lakh

(c) Rs. 25 lakh

(d) Rs. 50 lakh

(e) None of the given options is true

Q8. Commercial Paper (CP) is an unsecured money market instrument issued in the form of a promissory note. In which year Commercial Paper was introduced in India?

(a) 1975

(b) 1990

(c) 1985

(d) 1955

(e) 1980

Q9. Which Bank of India maintains the Principal Accounts of Central as well as State Governments at its Central Accounts Section? 

(a) IDBI

(b) SBI

(c) SIDBI

(d) NABARD 

(e) RBI

Q10. Who are eligible to issue Commercial Paper (CP)?

(a) Corporate

(b) Primary dealers (PDs)

(c) All-India Financial Institutions (FIs)

(d) All of the above

(e) None of the given options is true

Q11. Under OLTAS, only a Single Copy Challan is used with a tear-off portion for the Tax Payer. What does OLTAS stand for-?

(a) On-line Tax Accounting Service

(b) On-line Tax Amounting System

(c) On-line Timing Accounting System

(d) On-line Tax Association Service

(e) On-line Tax Accounting System

Q12. What is the minimum period of maturity prescribed for Commercial Paper (CP)?

(a) 17 Months

(b) 14 Days

(c) 01 Year

(d) 07 days

(e) 05 years

Q13. Which banks are insured by the Deposit Insurance and Credit Guarantee Corporation (DICGC)?

(a) Foreign Banks functioning in India

(b) Local Area Banks

(c) Regional Rural Banks

(d) All of the above

(e) None of the given options is true

Q14. What is the maximum period of maturity prescribed for Commercial Paper (CP)?

(a) 10 years

(b) 06 years

(c) 01 Year

(d) 02 years

(e) 05 years

Q15. Each depositor in a bank is insured by DICGC upto a maximum of _____________________ for both principal and interest amount held by him in the same capacity and same right as on the date of liquidation/cancellation of bank's licence or the date on which the scheme of amalgamation/merger/reconstruction comes into force.

(a) Rs.1, 00,000

(b) Rs.2, 00,000 

(c) Rs.3, 00,000 

(d) Rs.4, 00,000 

(e) Rs.5, 00,000 

February 2017 banking awareness-4

Q1. NPCI is an umbrella organisation for all retail payments system in India. It was set up with the guidance and support of the Reserve Bank of India (RBI) and Indian Banks’ Association (IBA). What does NPCI stand for-

(a) National Payments Corporation of Industry

(b) National Payments Council of India

(c) Nominal Payments Corporation of India

(d) National Payments Corporation of India

(e) National Product Corporation of India 

Q2. In which among the following years NPCI was incorporated-

(a) December 2008

(b) January 2006

(c) April 2010

(d) July 2012

(e) None of the given options is true

Q3. The Bank for International Settlements (BIS) is the world's oldest international financial organisation. BIS was established on-

(a) 26th May 1961

(b) 01st October 1949

(c) 14th February 1914

(d) 21st August 1945

(e) 17th May 1930

Q4. Where is the head office of Bank for International Settlements (BIS)?

(a) Zurich, Switzerland

(b) New York, USA

(c) Basel, Switzerland

(d) Berlin, Germany

(e) Geneva, Switzerland

Q5. Under which act NPCI was incorporated as a Section 8?

(a) Banking Regulation Act, 1949

(b) Companies Act 2013

(c) Reserve Bank of India Act, 1934

(d) Societies Registration Act, 1860 

(e) None of the given options is true

Q6. How much amount was authorised capital of NPCI? 

(a) Rs 100 crore

(b) Rs 500 crore 

(c) Rs 300 crore

(d) Rs 200 crore

(e) Rs 400 crore

Q7. Bank for International Settlements (BIS) pursues its mission by-

(a) Fostering discussion and facilitating collaboration among central banks

(b) Supporting dialogue with other authorities that are responsible for promoting financial stability

(c) Carrying out research and policy analysis on issues of relevance for monetary and financial stability

(d) Acting as a prime counterparty for central banks in their financial transactions

(e) All of the above

Q8. Bank for International Settlements (BIS) is an international organisation, created pursuant to an international treaty (The Hague Agreements of 1930). Its shareholding members are-

(a) Central banks

(b) Monetary authorities

(c) Commercial Banks

(d) Both (a) and (b)

(e) Both (a) and (c)

Q9. Who is the present Managing Director (MD) & Chief Executive Officer (CEO) of NPCI?

(a) Balachandran M

(b) AP Hota

(c) Deena Mehta

(d) B Sambamurthy

(e) None of the given options is true

Q10. How much amount was paid-up capital of NPCI?

(a) Rs 100 crore

(b) Rs 500 crore 

(c) Rs 300 crore

(d) Rs 200 crore

(e) Rs 400 crore

Q11. BCBS is the primary global standard setter for the prudential regulation of banks and provides a forum for cooperation on banking supervisory matters. What is mean of 'S' in BCBS?

(a) Supervision

(b) Serious

(c) System

(d) Service

(e) Stands

Q12. The Basel III capital regulation has been implemented from April 1, 2013 in India in phases and it will be fully implemented as on- 

(a) 31st March 2020

(b) 31st March 2019

(c) 31st March 2017

(d) 31st March 2018

(e) None of the given options is true

Q13. Which among the following product is not a product of NPCI?

(a) Unified Payments Interface (UPI)

(b) Bharat Interface for Money (BHIM)

(c) Single Euro Payments Area (SEPA)

(d) Bharat Bill Payment System (BBPS) 

(e) National Automated Clearing House (NACH)

Q14. Which card is a new card payment scheme launched by NPCI?

(a) Maestro card

(b) Visa Card

(c) MasterCard

(d) RuPay

(e) None of the given options is true

Q15. The Basel Committee has issued the full text of the revised LCR following endorsement on 06th January 2013 by its governing body. What is mean of 'C' in LCR?

(a) Custody

(b) Commercial

(c) Credit

(d) Cash

(e) Coverage

February 2017 banking awareness-3

Q1. Financial literacy is a serious issue for RBI, because?

(a) It would enable better understanding of banking business 

(b) With better understanding, more and more people would utilise the banking services

(c) It would mean banks can do more business 

(d) It would mean the maximum number of people

(e) None of the given options is true

Q2. RBI has replaced BPLR regime by Base Rate regime w.e.f?

(a) July 1, 2010

(b) July 5, 2010

(c) July 11, 2010 

(d) July 15, 2010

(e) None of the given options is true

Q3. Many times, we read about Special Drawing Right (SDR) in newspapers. As per in definition, SDR is a monetary unit of the reserve assets of which of the following organisations/agencies?

(a) World Bank

(b) International Monetary Fund (IMF)

(c) Reserve Bank of India (RBI)

(d) Organisation of the Petroleum Exporting Countries (OPEC)

(e) None of the given options is true

Q4. Reserve Bank of India is-

(a) an extension wing of Ministry of Finance, Government of India

(b) India's central banking institution, which controls the monetary policy of the Indian rupee

(c) an Institution owned by Indian Bank’s Association 

(d) a private sector company

(e) None of the given options is true 

Q5. The term ‘Ways and Means’ advances refer to?

(a) The temporary advance made to the government by its Bankers to bridge the interval between expenditure and the flow of receipt of revenues

(b) the advance given by the Banks to the poorest of the society 

(c) lending made under PMRY scheme 

(d) All of the above

(e) None of the given options is true 

Q6. Most banks are offering teaser rates on home loans. What does it mean?

(a) The rates keep fluctuating during the period of loan with high uncertainty 

(b) The initial rate is offered at a rate lower than the prevailing market rate for a few months and then gradually keeps increasing 

(c) The initial rate is higher than the current market rate with offer of lower rates at a later date 

(d) Home loan borrowers of shorter duration are given preferential rate 

(e) None of the given options is true 

Q7. Who decides the value and volume of bank note to be printed and on what basis?

(a) Finance Ministry 

(b) Planning Commission 

(c) RBI

(d) Stock Exchange 

(e) None of the given options is true 

Q8. Indian Banking Regulation Act was passed in the year?

(a) 1971

(b) 1969

(c) 1949

(d) 1947

(e) None of the given options is true 

Q9. Financial Market consists of-

(a) Foreign exchange 

(b) Debt Instruments  

(c) Equities  

(d) All of the above

(e) None of the given options is true 

Q10. Who is authorised to sign ‘one-rupee’ note?

(a) Secretary, Ministry of Finance

(b) RBI Governor 

(c) Prime Minister 

(d) Finance Minister  

(e) None of the given options is true 

Q11. The term “Balance of Trade” means?

(a) A point where the values of imports and exports are equal  

(b) the term is used with reference to bilateral trade agreements with countries of CIS Block

(c) the difference between the value of the imports and exports of a country

(d) the difference between the total of transactions with foreign countries in trade, services and capital 

(e) None of the given options is true 

Q12. More number of banks’ branches are located in?

(a) metropolitan areas  

(b) semi-urban areas 

(c) urban areas 

(d) rural areas

(e) None of the given options is true 

Q13. Which of the following Rates/Ratios is not covered under the Monetary and Credit Policy of the RBI? 

(a) Bank Rate 

(b) Repo Rate 

(c) Cash Reserve Ratio  

(d) Exchange Rate of Foreign Currencies

(e) None of the given options is true  

Q14. Which of the following agencies is associated with the business of Insurance sector as a regulator? 

(a) NPCI 

(b) IRDA 

(c) SEBI 

(d) AMFI 

(e) None of the given options is true 

Q15. Khandelwal Committee relates to study of............. issue in Public Sector Banks? 

(a) Capital Adequacy Ratio 

(b) Human Resources  

(c) Branch Expansion  

(d) Foreign Exchange

(e) None of the given options is true

February 2017 banking awareness-2

Q1. Where is headquarter of Federal Bank? 

(a) Kochi

(b) Mumbai 

(c) New Delhi 

(d) Bengaluru 

(e) None of the given options is true

Q2. Which private sector bank was earlier known as UTI Bank? 

(a) Axis Bank

(b) ICICI Bank 

(c) HDFC Bank 

(d) Yes Bank 

(e) None of the given options is true

Q3. The rural co-operatives are further divided into short-term and long-term structures. The short-term cooperative banks are tiered operating in different states. These are........? 

(a) State Co-operative Banks 

(b) District Central Co-operative Banks 

(c) Primary Agricultural Credit Societies

(d) All of the above

(e) None of the given options is true

Q4. Co-operative banks are registered with...? 

(a) Reserve Bank of India (RBI)

(b) Union Government 

(c) Registrar of Cooperative Societies (RCS) 

(d) Securities and Exchange Board of India (SEBI)

(e) None of the given options is true

Q5. Apna Sahakari Bank Ltd is located in- 

(a) Bhopal, Madhya Pradesh 

(b) Kolkata, West Bengal 

(c) Lucknow, Uttar Pradesh 

(d) Mumbai, Maharashtra 

(e) None of the given options is true

Q6. As per the guidelines issued by the RBI, banks are preparing for a service which will allow customers to withdraw upto Rs.1,000 using their debit cards from notified shoes/stores all over the country. All such shops/stores will have ‘POS’ terminals for the same. What is full form of the ‘POS’?

(a) Payment on Sale 

(b) Power of Sale 

(c) Point of Sale

(d) Payment Order Service

(e) None of the given options is true

Q7. Which of the following is considered as the financial capital of India?

(a) New Delhi

(b) Kolkata 

(c) Ahmedabad 

(d) Mumbai

(e) None of the given options is true

Q8. One of the major emphasis of Basel II is that banks should have?

(a) Adequate Capital Adequacy Ratio

(b) Only few braches in urban centers

(c) More and more branches in rural areas 

(d) Core banking mode of operation

(e) None of the given options is true

Q9. MUDRA Bank as a wholly owned subsidiary of which institutions? 

(a) Non-Banking Financial Companies (NBFCs) 

(b) Commercial Banks 

(c) Micro Finance Institutions (MFIs) 

(d) Small Industries Development Bank of India (SIDBI)

(e) None of the given options is true

Q10. What amount of corpus is allocated to set up MUDRA Bank? 

(a) Rs. 20,000 crore

(b) Rs. 25,000 crore

(c) Rs. 3,000 crore

(d) Rs. 3,500 crore

(e) None of the given options is true

Q11. ‘Closed Economy’ is that economy in which............?

(a) Neither export nor import takes place

(b) Deficit financing takes place 

(c) Only export takes place 

(d) All of the above

(e) None of the given options is true

Q12. The SDR was created by the IMF in ____________ as a supplementary international reserve asset, in the context of the Bretton Woods fixed exchange rate system.

(a) 1945

(b) 1969

(c) 1980

(d) 1991

(e) None of the given options is true

Q13. The headquarters of SIDBI is in-

(a) Lucknow

(b) New Delhi

(c) Mumbai 

(d) Kolkata

(e) None of the given options is true

Q14. LIC of India was established in-

(a) 1897

(b) 1956

(c) 1970

(d) 1965

(e) 1949

Q15. What is ‘Hawala market’?

(a) Illegal market for exchanging rupees and foreign currencies

(b) Full details of a subject 

(c) Illegal trading of shares 

(d) Tax evasion 

(e) None of the given options is true