Banking Quiz.

Banking & Financial Awareness Quiz – Set 112

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 applicable limit for social infrastructure loans under priority sector?
    A) 1 crore
    B) 2 crores
    C) 5 crores
    D) 3 crores
    View answer
    Option C
    Explanation:
    Bank loans up to a limit of ₹ 50 million per borrower for building social infrastructure for activities namely schools, health care facilities, drinking water facilities and sanitation facilities (including loans for construction/ refurbishment of toilets and improvement in water facilities in the household) in Tier II to Tier VI centres are eligible for classification under priority sector.
  2. The Micro, Small and Medium Enterprises Development (MSMED) Act was passed in which year?
    A) 2007
    B) 2003
    C) 2000
    D) 2006
    View answer
    Option D
  3. In banking, what does ASCL stands for?
    A) Average Securities Capital Limit
    B) Aggregate Sanctioned Credit Limit
    C) Adequate Systematic Control Loan
    D) Associated System of Credit Liability
    View answer
    Option B
    Explanation:
    Aggregate Sanctioned Credit Limit (ASCL) means the aggregate of the fund based credit limits sanctioned or outstanding, whichever is higher, to a borrower by the banking system
  4. A short term borrowing means borrowing of tenor up to but less than ________.
    A) 12 months
    B) 6 months
    C) 18 months
    D) 3 months
    View answer
    Option A
    Explanation:
    A short term borrowing means borrowing of tenor up to but less than one year.
  5. The National Accreditation Board for Testing and Calibration Laboratories (NABL) is located in which city?
    A) Nagpur
    B) Pune
    C) Gurugram
    D) Mumbai
    View answer
    Option C
  6. What is the minimum age limit for opening BSBDA by banks for individuals?
    A) 10 years
    B) 12 years
    C) 18 years
    D) no such limit
    View answer
    Option D
    Explanation:
    Banks are advised not to impose restrictions like age and income criteria of the individual for opening BSBDA.
  7. For a corporate to be eligible to issue CP the tangible net worth of the company should not be less than Rs. ________
    A) 1 crore
    B) 4 crore
    C) 2 crore
    D) 5 crore
    View answer
    Option B
    Explanation:
    The tangible net worth of the company, as per the latest audited balance sheet, is not less than Rs. 4 crore
  8. The headquarter of the Asian Clearing Union (ACU) is located in which country?
    A) Kathmandu, Nepal
    B) New Delhi, India
    C) Dhaka, Bangladesh
    D) Tehran, Iran
    View answer
    Option D
    Explanation:
    It was established on December 9, 1974, at the initiative of the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP). The primary objective of ACU, at the time of its establishment, was to secure regional co-operation as regards the settlement of eligible monetary transactions among the members of the Union to provide a system for clearing payments among the member countries on a multilateral basis.
  9. What is the maximum limit of Indian currency that an Indian resident can bring back to India while returning from any place outside India?
    A) Rs.55,000
    B) Rs.50,000
    C) Rs.25,000
    D) Rs.20,000
    View answer
    Option C
    Explanation:
    A resident of India, who has gone out of India on a temporary visit may bring into India at the time of his return from any place outside India (other than Nepal and Bhutan), currency notes of Government of India and Reserve Bank of India notes up to an amount not exceeding Rs.25,000. A person may bring into India from Nepal or Bhutan, currency notes of Government of India and Reserve Bank of India notes, in denomination not exceeding Rs.100.
  10. What are the processing or service charges applicable for inward NEFT transactions
    A) No charge
    B) Rs 2.50
    C) Rs 5
    D) Rs 25
    View answer
    Option A

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