Banking & Financial Awareness Quiz – Set 100 – Miscellaneous

Banking & Financial 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.  The set will be beneficial for the Banking and financial awareness section of LIC AAO. So attempt all the sets now.

Banking & Financial Awareness Questions

1. What is the current interest rate levied on the General Provident Fund (GPF)?
   A) 7%
   B) 7.5%
   C) 8%
   D) 8.5%
   
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   Option C
   Explanation: The Government of India has retained the interest rate for General Provident Fund (GPF) and other related schemes at 8 percent for the first quarter (April to June) of financial year 2019-20, effective from April 1, 2019. 
2. What was the Fiscal Deficit Target set by the government in the FY19?
   A) 3.2%
   B) 3.4%
   C) 3.3%
   D) 3.5%
   
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   Option B
   Explanation: The government had set the met the fiscal deficit target of 3.4 percent of the GDP for 2018-19 and was successful in meeting this target of 3.4% of the gross domestic product (GDP) in FY19. This was possible by reducing government spending and increasing borrowings from small savings funds. 
3. LRS enables an Indian citizen to send money abroad. What does it stands for?
   A) Liberalised Remittance Scheme
   B) Liquidity Remittance Scheme
   C) Limited Remittance Scheme
   D) Littoral Remittance Scheme
   
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   Option A
   Explanation: The Liberalised Remittance Scheme (LRS) was established by Reserve Bank of India and it permits citizens of India to transfer funds abroad. 
4. When the asset of the banks stops generating an income, then the asset becomes_______
   A) LAF
   B) ATM
   C) PCR
   D) NPA
   
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   Option D
   Explanation: An asset becomes non­ performing when it stops generating income for the ban
5. The account in which the outstanding balance remains continuously in excess of the sanctioned limit is known as______
   A) Credit buy out
   B) Out of order
   C) Weighted earnings per credit
   D) Lot size
   
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   Option B
   
6. The Special Mention Account (SMA) are classified into how many categories by the banks?
   A) one
   B) two
   C) three
   D) four
   
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   Option C
   
7. The State Bank of India merged with its 5 associate banks and Bharatiya Mahila Bank in which year?
   A) 2015
   B) 2018
   C) 2016
   D) 2017
   
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   Option D
   
8. The sum of money paid by a company to its shareholders out of its profits is known as________
   A) Dividend
   B) Interest
   C) Equity
   D) Preferential Share
   
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   Option A
   
9. Who regulates Depository and Depository Participants in India?
   A) RBI
   B) EXIM
   C) SEBI
   D) IRDAI
   
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   Option C
   Explanation: The Securities and Exchange Board of India (SEBI) is responsible for the regulation of Depository and Depository Participants ranging from registration, regulation and inspection of the depository.
10. The New Bank of India merged with which bank in 1993?
    A) Bank of India
    B) Punjab National Bank
    C) State Bank of India
    D) Canara Bank
    
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    Option B
    

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