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
- What is the deadline set by RBI for entities with net worth above Rs.10000 million to implement Legal Entity Identifier (LEI) for participation in non-derivative markets?
A) January 31, 2020
B) March 31, 2020
C) April 30, 2019
D) December 31, 2019
View answer
Option D
Explanation: The Reserve Bank of India has extended the deadline for market participants for the implementation of Legal Entity Identifier (LEI) for participation in non-derivative markets. For entity with net worth above Rs.10000 million, the deadline is December 31, 2019.
- RBI has extended the NBFC Ombudsman Scheme 2018 to Non-Deposit Taking Non-Banking Financial Companies which has a total asset size of Rs ___________ and above
A) Rs 50 crore
B) Rs 100 crore
C) Rs 150 crore
D) Rs 200 crore
View answer
Option B
Explanation: The Reserve Bank of India has extended the NBFC Ombudsman Scheme 2018 to Non-Deposit Taking Non-Banking Financial Companies with assets size of Rupees 100 crore or above.
- As per SEBI, what should be the minimum net worth requirement for Clearing Corporations in International Financial Services Centre (IFSC) during commencement of operations?
A) Rs 50 crore
B) Rs 100 crore
C) Rs 200 crore
D) Rs 250 crore
View answer
Option A
Explanation: SEBI has announced minimum net worth requirement for Clearing Corporations in International Financial Services Centre (IFSC) during commencement of operations is still Rs 50 crore.
- What will be the dimension of the new Rs 20 denomination currency note to be issued by RBI?
A) 63 mm x 122 mm
B) 63 mm x 132 mm
C) 63 mm x 129 mm
D) 63 mm x 138 mm
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Option C
Explanation: The Reserve Bank of India will soon issue new Rs 20 denomination banknotes in the Mahatma Gandhi (New) Series, bearing signature of Shri Shaktikanta Das. Motif of Ellora Caves on the reverse Base colour of the note is Greenish Yellow.Dimension of the banknote will be 63 mm x 129 mm
- What will be the interest rate on the Employees’ Provident Fund (EPF) for 2018-19?
A) 8.55%
B) 8.65%
C) 8.75%
D) 8.45%
View answer
Option B
Explanation: Ministry of Finance has approved 8.65% interest rate on Employees’ Provident Fund (EPF) for 2018-19 as proposed by Employees’ Provident Fund Organisation (EPFO).
- Which among the following banks is merging with largest microfinance company Bharat Financial Inclusion?
A) Canara Bank
B) HDFC Bank
C) Kotak Mahindra Bank
D) IndusInd Bank
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Option D
Explanation: The IndusInd bank has received the approval of the National Company Law Tribunal (NCLT) for its merger with Bharat Financial Inclusion (BFIL). The entire merger process will be completed within 2-4 weeks. Post merger, the BFIL will become a subsidiary of the IndusInd Bank.
- Which agency has stated that RBI is the first central bank in Asia-Pacific (APAC) region to start interest rate easing cycle?
A) Fitch Ratings
B) Moody’s
C) International Monetary Fund
D) World Bank
View answer
Option A
Explanation: Fitch Ratings has said that the Reserve Bank of India (RBI) is the first central bank in the Asia-Pacific (APAC) region to have begun explicit interest rate easing cycle by cutting the policy twice, amounting to a cumulative 50 bps, in the last two monetary policy reviews in 2019.
- Which Indian Cryptocurrency exchange has launched first ever wholesale cryptocurrency trading platform?
A) Zebpay
B) UNOCOIN
C) BuyUcoin
D) Coinsecure
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Option C
Explanation: BuyUcoin, a Cryptocurrency Exchange in India, has launched a new and unique platform for wholesale cryptocurrency trading also known as OTC (Over-the-counter) desk.
- What was the target set for loan under Pradhan Mantri Mudra Yojana (PMMY) in the fiscal 2018-19?
A) Rs 2 lakh crore
B) Rs 3 lakh crore
C) Rs 4 lakh crore
D) Rs 5 lakh crore
View answer
Option B
Explanation: Loans disbursed under the Pradhan Mantri Mudra Yojana (PMMY) have fallen short of the target set for 2018-19 by Rs 27000 crore. The loans disbursed under PMMY in FY19 was Rs 2.73 lakh crore against the target of Rs 3 lakh crore. This is the first time that the target was missed in the last three years.
- Which bank has launched India’s first ‘Green Car Loan’ to encourage customers to buy electric vehicle?
A) ICICI
B) HDFC
C) PNB
D) SBI
View answer
Option D
Explanation: State Bank of India has launched India’s first ‘Green Car Loan’ (loans for Electric Vehicle) to encourage customers to buy electric vehicles. The interest rate in SBI Green car loans will be 20 basis points less than the normal car loan schemes. It will also come with the longest repayment period of up to eight years.
