Banking Awareness Quiz – Set 48

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.

Number of Questions: 10

1. Which of the following banks is the sponsor bank of the Dakshin Bihar Gramin Bank?
   A) Union Bank of India
   B) UCO Bank
   C) Punjab National Bank
   D) Bank of Baroda
   
   View answer

   Option C
   Explanation: Uttar Bihar Gramin Bank (Sponsor Bank- UCO Bank) has been amalgamated with Madhya Bihar Gramin Bank (PNB). The consolidated entity has been rechristened as Dakshin Bihar Gramin Bank, with headquarters at Patna.
2. The Global Economic Prospects (GEP) Report is released by which organisation?
   A) World Economic Forum
   B) International Monetary Fund
   C) United Nations Development Programme
   D) World Bank
   
   View answer

   Option D
   Explanation: It is World Bank’s semi-annual flagship publication on the state of the world economy
3. Who is the parent organisation of the India International Exchange IFSC Ltd (INDIA INX)?
   A) NSE
   B) BSE
   C) SEBI
   D) RBI
   
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   Option B
   Explanation: BSE is the parent organisation of INDIA INX.
4. What is the full form of AEPS?
   A) Aadhaar Enabled Payment System
   B) Assured Encrypt Payment System
   C) Asymmetric Electronic Payment System
   D) Automated Exchange Payment System
   
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   Option A
   Explanation: Aadhaar Enabled Payment System (AEPS) is a type of payment system that is based on the Unique Identification Number and allows Aadhaar card holders to seamlessly make financial transactions through Aadhaar-based authentication.
5. Deutsche Bank has its head office in which country?
   A) Italy
   B) France
   C) Germany
   D) Denmark
   
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   Option C
   
6. What is the rate of GST applicable on Haj Tour for 2019?
   A) 8%
   B) 12%
   C) 18%
   D) 5%
   
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   Option D
   
7. How many banks are under the prompt corrective action plan (PCA) framework of RBI?
   A) 11
   B) 8
   C) 15
   D) 6
   
   View answer

   Option B
   Explanation:The Reserve Bank of India (RBI) has removed the restrictions of prompt corrective action plan (PCA) on three banks namely Bank of India (BoI), Bank of Maharashtra (BoM) and Oriental Bank of Commerce. Now there are total 8 banks under the PCA framework.
8. INSTEX, an instrument to support trade exchange, has been launched by 3 countries. Which country is not one among them?
   A) Iran
   B) United Kingdom
   C) France
   D) Germany
   
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   Option A
   Explanation: Germany, France and the UK have setup a transaction channel named INSTEX — short for “Instrument in Support of Trade Exchanges.” that allows non-dollar trade with Iran. This will help the European countries to trade with Iran despite the sanctions imposed on Iran by US.
9. What does E denotes in EMI?
   A) Equal
   B) Expenditure
   C) Equated
   D) Expense
   
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   Option C
   Explanation: Equated Monthly Installments 
10. What is the full form of BLA with respect to government securities?
    A) Bank’s Liquid Asset
    B) Bills Lending Association
    C) Balance Listed Agency
    D) Bond Ledger Account
    
    View answer

    Option D
    Explanation: A BLA or Bond Ledger Account means an account with RBI or an agency bank in which the Government securities are held in a dematerialized form to the credit of the holder.

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