Banking Awareness Quiz – Set 70 – Miscellaneous

Banking Awareness Quiz – Set 70 – Miscellaneous

Banking Awareness Quiz: We have created many quizzes on Banking Awareness and this set is one of them. These questions are most important for banking and insurance exams. The question asked in the Banking Awareness section are based both on static banking and that to current banking in news. These Banking Awareness sets will guide you in all banking exams like IBPS Clerk, IBPS PO, SBI Clerk, SBI PO, RRB Clerk and PO and other exams. So attempt all the sets now.

  1. Name the first Small Finance bank in India to provide collateral free loans service  for small and marginal farmers
    A) AU Small Finance Bank

    B) Ujjivan Small Finance Bank
    C) Jana Small Finance Bank
    D) Equitas Small Finance Bank
    View answer
    Option B
    Explanation: 
    Bengaluru based Ujjivan Small Finance Bank (SFB) has launched Ujjivan Bank Kisan Suvidha loan for small and marginal farmers. It is the first bank in this category to offer collateral free loans service. The product will be custom made to fit requirements of small and marginal farmers.  
  2. The computation of interest on savings bank deposits is done on _____ basis?
    A) daily product basis

    B) monthly basis
    C) fortnightly basis
    D) maximum amount basis
    View answer
    Option A
    Explanation:
    With effect from April 1, 2010 payment of interest on savings bank accounts by scheduled commercial banks would be calculated on a daily product basis.
  3. PV Bharathi has been appointed as the CEO of which bank?
    A) Rakesh Sharma

    B) Hemant Bhargava
    C) P V Bharathi 
    D) Renuka Ramnath
    View answer
    Option C
    Explanation:
    P V Bharathi took charge as Managing Director and CEO of Corporation Bank on February 01, 2019.
  4. The approach of lending intended to provide a full-service approach to cater to the diverse needs of the MSE sector is known as?
    A) Micro financing

    B) Macro financing
    C) Enterprise financing
    D) Cluster financing
    View answer
    Option D
    Explanation:
    Cluster based approach to lending is intended to provide a full-service approach to cater to the diverse needs of the MSE sector which may be achieved through extending banking services to recognized MSE clusters. A cluster based approach may be more beneficial (a) in dealing with well-defined and recognized groups (b) availability of appropriate information for risk assessment (c) monitoring by the lending institutions and (d) reduction in costs.
  5. MFIs offer financial services to low income populations. Expand MFI.
    A) Micro Finance Institutions

    B) Mixed Financial Institutions
    C) Monetary Financial Inclusion
    D) Minimum Finance Institution
    View answer
    Option A
  6. ECBs cannot be raised as:
    A) Loans

    B) FCNR (B)
    C) Financial lease
    D) FCCB
    View answer
    Option B
    Explanation:
    ECBs can be raised as:1. Loans, eg., bank loans, loans from equity holder, etc. ; 2. Capital market instruments, e.g., ;floating rate notes / fixed rate bonds / securitised instruments; non-convertible, optionally convertible or partially convertible preference shares; FCCB*;FCEB*; 3. Buyers’ credit / suppliers’ credit; 4. Financial lease
  7. Amazon has partnered with which bank to launch its Amazon Pay Unified Payments Interface?
    A) HDFC Bank

    B) ICICI Bank
    C) Axis Bank
    D) Yes Bank
    View answer
    Option C
    Explanation:
    Amazon on February 14, 2019 launched “Amazon Pay Unified Payments Interface (UPI)” for Android users in India to issue UPI IDs to its customers.  Amazon has partnered with Axis Bank for this. 
  8. What does P stands for in CNP with respect to Card Transactions?
    A) Primary

    B) Prepaid
    C) Prescribed
    D) Present
    View answer
    Option D
    Explanation:
    Card Not Present
  9. A startup is an entity which has been opened less than ____________ years ago from the date of incorporation.
    A) 10

    B) 7
    C) 5
    D) 9
    View answer
    Option A
    Explanation:
    An entity will be considered as a Start-ups upto a period of ten years from the date of incorporation and registration.(Earlier it was 7 years). 
  10. What is the minimum maturity period for Masala Bonds raised above USD 50 million equivalent in INR per financial year?
    A) 3 years

    B) 4 years
    C) 5 years
    D) 7 years
    View answer
    Option C
    Explanation:
    The minimum maturity period for Masala Bonds raised up to USD 50 million equivalent in INR per financial year should be 3 years and for bonds raised above USD 50 million equivalent in INR per financial year should be 5 years.

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