Banking & Financial Awareness Quiz – Set 103

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 AAOSo attempt all the sets now.

Banking & Financial Awareness Questions

  1. What is the minimum interval at which banks can pay interest on savings bank accounts?
    A) Annually
    B) Quarterly
    C) Half yearly
    D) Monthly
    View answer
    Option B
    Explanation:
    Banks can pay interest on savings bank accounts at quarterly or longer rests (not at lesser interval ).
  2. What is the total Priority Sector lending target for Foreign banks in India with less than 20 branches for the financial year 2019-20?
    A) 20% of Adjusted Net Bank Credit (ANBC)
    B) 30% of ANBC
    C) 40% of ANBC
    D) 50% of ANBC
    View answer
    Option C
  3. Flipkart Gift Cards, Amazon Gift Cards are examples of which type of PPI?
    A) Closed System
    B) Open System
    C) Semi-closed System
    D) Semi-open System
    View answer
    Option A
    Explanation:
    Closed System PPIs are issued by an entity to a person/organisation to enable purchase from that entity only. Example: Using Amazon Gift card you can shop only on Amazon, you cannot shop with it on Flipkart. 
  4. The difference between Repo Rate and Reverse Repo Rate is known as________
    A) Policy Ratio Gap
    B) Percent Gap
    C) Deposit Gap
    D) Corridor Gap
    View answer
    Option D
  5. The assets which does not disclose any problems and does not carry more than normal risk attached to the business is known as_______
    A) Loss assets
    B) Standard assets
    C) Doubtful assets
    D) Substandard assets
    View answer
    Option B
  6. The Ombudsman Scheme for Digital Transactions, 2019 came into force on_______
    A) 31 January 2019
    B) 31 December 2018
    C) 30 November 2018
    D) 15 February 2019
    View answer
    Option A
  7. Which among the following banks did not merge with the State Bank of India?
    A) Bank of Cochin Ltd
    B) National Bank of Lahore Ltd
    C) Bank of Bihar Ltd
    D) New Bank of India
    View answer
    Option D
    Explanation:
    New Bank of India merged with PNB
  8. What is the current base year to calculate the Index of Industrial Production (IIP)?
    A) 2000-01
    B) 2004-05
    C) 2011-12
    D) 2014-15
    View answer
    Option C
    Explanation:
    The Central Statistics Office (CSO) revised the base year of the all-India Index of Industrial Production (IIP) from 2004-05 to 2011-12 on 12 May 2017.
  9. Identify the incorrect statement regarding equity
    A) Equity is the borrowed fund
    B) Return is in the form of dividend
    C) Equity can be in the form of Shares and Stocks
    D) They are always unsecured
    View answer
    Option A
    Explanation:
    Equity is the owned fund
  10. Which of these accounts cannot be held by a person in the bank where he already has ‘Basic Savings Bank Deposit Account’?
    A) Fixed deposit account
    B) Savings Bank account
    C) Recurring deposit account
    D) Current account
    View answer
    Option B

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