Banking & Financial Awareness Quiz – Set 101

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. Who regulates Prepaid Payment Instruments in India?
   A) Scheduled Commercial Banks
   B) SEBI
   C) National Payments Corporation of India
   D) Reserve Bank of India
   
   View answer

   Option D
   Explanation: Prepaid Payment Instruments are licensed and regulated by the Reserve Bank of India under the Section 18 read with Section 10(2) of the Payment and Settlement Systems Act, 2007 (PSS Act, 2007).
2. Which of the following is used to determine the Dearness Allowance of employees in India?
   A) National Income
   B) Consumer Price Index
   C) Per Capita Income
   D) Standard of Living
   
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   Option B
   
3. The Liberalised Remittance Scheme was introduced by the RBI in which year?
   A) 2005
   B) 2000
   C) 2010
   D) 2016
   
   View answer

   Option A
   
4. The Economic Survey in India is published every year by which body?
   A) Ministry of Commerce
   B) NITI Aayog
   C) RBI
   D) Ministry of Finance
   
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   Option D
   Explanation: The Department of Economic Affairs, Finance Ministry of India presents the Economic Survey in the parliament every year, just before the Union Budget.It is prepared under the guidance of the Chief Economic Adviser, Finance Ministry.
5. The NPA can be classified into how many types on the basis of period for which assets remained stressed?
   A) Two
   B) Five
   C) Three
   D) Four
   
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   Option C
   Explanation: Based on the period for which the asset has remained non­ performing, there are three types of NPA – Sub­standard Assets, Doubtful Assets and Loss Assets
6. Which among the following is not a valid method to calculate the national income in India?
   A) Value Added Method
   B) Investment Method
   C) Income Method
   D) Expenditure Method
   
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   Option B
   Explanation: The three methods for measuring national income are Value Added Method, Income Method and Expenditure Method.
7. The Nainital Bank was merged with which bank in 2006?
   A) Bank of Baroda
   B) ING Vyasa Bank
   C) New Bank of India
   D) Global Trust Bank
   
   View answer

   Option A
   
8. Who is the Chairman of the Fifteenth Finance Commission of India?
   A) A. N. Jha
   B) N.K. Singh
   C) Ramesh Chand
   D) Ashok Lahiri
   
   View answer

   Option B
   
9. What is the maximum limit of amount that can be deposited in BSBDA Account in a month?
   A) Rs 1 lakh
   B) Rs 75,000
   C) No limit
   D) Rs 90  lakh
   
   View answer

   Option C
   
10. The tertiary sector of an economy can be best denoted from which of these options?
    A) Animal Husbandry
    B) Cultivation of crops
    C) Cotton Manufacturing
    D) Power & Transportation
    
    View answer

    Option D
    

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