Banking & Financial Awareness Quiz – Set 118

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. What is the deadline set by RBI for market participants having net worth between Rs.2000 million and Rs 10000 million to implement Legal Entity Identifier (LEI) for participation in non-derivative markets?
   A) 1 October 2019
   B) 31 August 2019
   C) 1 July 2019
   D) 31 December 2019
   
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   Option D
   
2. Which of these US companies have not crossed the USD 1 trillion market cap till now?
   A) Apple
   B) Facebook
   C) Amazon
   D) Microsoft
   
   View answer

   Option B
   Explanation: Satya Nadella led Microsoft passed the market cap of $1 trillion on April 25, 2019 to become the world’s most valuable tech firm surpassing Apple Inc’s $980 billion market capitalization. With this, it also became the only third US company to hit the $1 trillion USD market cap. Seattle-based tech giant Microsoft has now joined the elite trillionaire’s club which includes only Apple and Amazon. 
3. The NBFC Ombudsman Scheme was introduced in which year?
   A) 2015
   B) 2016
   C) 2017
   D) 2018
   
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   Option D
   
4. SEBI has reduced the minimum Net worth Requirements for Clearing Corporations in International Financial Services Centre (IFSC) over a period of three years from the commencement of operations to Rs 100 Crore. Earlier what was this limit?
   A) Rs 300 crore
   B) Rs 200 crore
   C) Rs 500 crore
   D) Rs 400 crore
   
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   Option A
   Explanation: SEBI has announced that the minimum Net worth Requirements for Clearing Corporations in International Financial Services Centre (IFSC) over a period of three years from the commencement of operations should be at least Rs 100 Crore. This has been reduced from Rs 300 crore earlier.
5. Who finalizes the interest rate on Employees’ Provident Fund (EPF)?
   A) RBI
   B) Employees’ Provident Fund Organisation (EPFO)
   C) Ministry of Finance
   D) Central Statistical Organisation
   
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   Option C
   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).
6. The National Company Law Tribunal (NCLT) is a __________ body
   A) Regulatory body
   B) Quasi-judicial body
   C) Statutory body
   D) Constitutional body
   
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   Option B
   Explanation: The National Company Law Tribunal is a quasi-judicial body in India that adjudicates issues relating to Indian companies.
7. What was the total amount of loan disbursed under the Pradhan Mantri Mudra Yojana (PMMY) in 2018-19?
   A) Rs 3 lakh crore
   B) Rs 3.27 lakh crore
   C) Rs 2 lakh crore
   D) Rs 2.73 lakh crore
   
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   Option D
   Explanation: Loans disbursed under the Pradhan Mantri Mudra Yojana (PMMY) have fallen short of the target set for 2018-19. The loans disbursed under PMMY in FY19 was Rs 2.73 lakh crore against the target of Rs 3 lakh crore.
8. The RBI has recently divested its entire stake in which of its wholly owned subsidiary?
   A) NHB
   B) Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL)
   C) DICGC
   D) SIDBI
   
   View answer

   Option A
   Explanation: The Reserve Bank of India has announced that it has divested its entire stake in NABARD and NHB on February 26, 2019 and March 19, 2019 respectively. RBI has a share of Rs 20 Crore in NABARD and Rs 1450 Crore in NHB. With this, the Government of India now holds 100% stake in both the financial institutions. RBI held 100% shareholding in NHB, which was divested on March 19, 2019. 
9. Which among the given institutions has reduced the minimum subscription requirement for Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs)?
   A) NHB
   B) RBI
   C) SEBI
   D) EXIM
   
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   Option C
   Explanation: Securities and Exchange Board of India (SEBI) has reduced the minimum subscription requirement for Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs). SEBI has also defined trading lots for REITs and InvITs.
10. Which of these has recently signed a Statement of Commitment (SoC) to the FX Global Code (“Code”)?
    A) EXIM
    B) RBI
    C) SEBI
    D) Ministry of Finance
    
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    Option B
    Explanation: The Reserve Bank of India has signed a Statement of Commitment (SoC) to the FX Global Code (“Code”). The FX Global Code (known as Code) represents a set of principles generally recognized as good practice in the wholesale foreign exchange market (“FX Market”).

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