Banking Quiz.

Banking & Financial Awareness Quiz – Set 110

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. The headquarter of MMTC-PAMP India Pvt. Ltd, India’s first and only LBMA Good Delivery Refinery accredited for Gold and Silver is based in which city?
    A) Kolkata
    B) Pune
    C) Mumbai
    D) New Delhi
    View answer
    Option D
  2. TDR is a method for controlling land use to complement land-use planning and zoning for more effective urban growth management and land conservation. Expand TDR
    A) Transferable Development Rights
    B) Transaction Delayed Reserve
    C) Tax Deducted Review
    D) Terminal Development Resource
    View answer
    Option A
  3. Which among the following is not true regarding Sovereign Gold Bond Scheme?
    A) Joint holding is allowed
    B) Minor can invest in SGB
    C) Investor can hold more than one investor ID for subscribing to the Sovereign Gold Bond
    D) Persons resident in India as defined under Foreign Exchange Management Act, 1999 are eligible to invest in SGB
    View answer
    Option C
    Explanation:
    An investor can have only one unique investor Id linked to any of the prescribed identification documents. The unique investor ID is to be used for all the subsequent investments in the scheme. 
  4. Conversion of the token back to actual card details is known as ________
    A) Re-tokenisation
    B) De-tokenisation
    C) Pre-tokenisation
    D) E-tokenisation
    View answer
    Option B
  5. What is the minimum number of free transactions allowed by banks in a month to customers for transaction at a bank’s own ATMs?
    A) 5
    B) 3
    C) 4
    D) 6
    View answer
    Option A
    Explanation:
    Banks must offer their savings bank account holders a minimum of five free transactions (including both financial and non-financial) in a month, irrespective of the location of ATMs.
  6. The “Limiting Liability of Customers for Unauthorised Electronic Payment Transactions in Prepaid Payment Instruments (PPIs) issued by Authorised Non-banks” has came into effect from_____________
    A) 01 April 2019
    B) 01 February 2019
    C) 01 January 2019
    D) 01 March 2019
    View answer
    Option D
    Explanation:
    The directive is issued under Section 10(2) read with Section 18 of the Payment and Settlement Systems Act, 2007 (Act 51 of 2007), and has come into effect from March 01, 2019.
  7. What will be the maximum compensation payable by the Ombudsman for mental agony and harassment?
    A) Rs 10 lakh
    B) Rs 1 lakh
    C) Rs 5 lakh
    D) Rs 20 lakh
    View answer
    Option B
    Explanation:
     The banking ombudsman can now grant a maximum compensation of Rs 1 lakh for loss of time and money, harassment and mental anguish suffered by the complainan
  8. In which of the following fund transfer system, the transactions received up to a particular time are processed in batches?
    A) RTGS
    B) IMPS
    C) NEFT
    D) All the above
    View answer
    Option C
  9. If the fund is not credited to the beneficiary customers accounts for any reason, RTGS member banks will return the fund back to the originating bank within a maximum period of ______ hours
    A) 1 hour
    B) 6 hours
    C) 8 hours
    D) 12 hours
    View answer
    Option A
    Explanation:
    If it is not possible to credit the funds to the beneficiary customer’s account for any reason, the funds received by the RTGS member bank will be returned to the originating bank within one hour of receipt of the payment at the Payment Interface (PI) or before the end of the RTGS Business day, whichever is earlier
  10. What does R stands for in UTR with respect to fund transfer?
    A) Range
    B) Route
    C) Register
    D) Reference
    View answer
    Option D
    Explanation:
    Unique Transaction Reference (UTR) number is a 22 character code used to uniquely identify a transaction in RTGS system.

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