Banking & Financial Awareness Quiz – Set 127

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 fees charged by NPCI for using UPI for transaction below Rs 1000?
   A) 10 paise
   B) 25 paise
   C) 50 paise
   D) 75 paise
   
   View answer

   Option A
   Explanation: The National Payments Corporation of India (NPCI) has reduced the Unified Payments Interface (UPI) usage fees for small transactions less than Rs 1,000 to 10 paise from 25 paise.  For transactions above Rs 1,000, the charge has been retained at 50 paise.
2. What does A stands for in WMA in banking?
   A) Account
   B) Assets
   C) Advances
   D) Act
   
   View answer

   Option C
   Explanation: Ways and means advances (WMA) is a mechanism used by Reserve Bank of India (RBI) under its credit policy to provide to States, banking with it, to help them tide over temporary mismatches in the cash flow of their receipts and payments.
3. What is the sovereign rating of India as per Fitch?
   A) BB-
   B) BBB-
   C) CC-
   D) CCC-
   
   View answer

   Option B
   Explanation: Rating agency Fitch has retained India’s sovereign rating at ‘BBB-‘ with stable outlook. BBB- is the lowest investment grade.
4. The deadline to link Permanent Account Number (PAN) with Aadhaar is _________
   A) 30 November 2019
   B) 31 July 2019
   C) 31 December 2019
   D) 30 September 2019
   
   View answer

   Option D
   Explanation: The government has further extended the last date to link Permanent Account Number (PAN) with Aadhaar number by 6 month till 30 September 2019.
5. Which of these banks has approved its merger with Indiabulls Housing Finance?
   A) South Indian Bank
   B) Karur Vysya Bank
   C) Lakshmi Vilas Bank
   D) City Union Bank
   
   View answer

   Option C
   Explanation: The board of The Lakshmi Vilas Bank Ltd. has approved a scheme of amalgamation with Indiabulls Housing Finance Ltd.
6. As per the World Bank report, what is the total remittance received by India in 2018?
   A) USD 79 billion
   B) USD 61 billion
   C) USD 85 billion
   D) USD 58 billion
   
   View answer

   Option A
   Explanation: India has retained its spot as the world’s top remittance receiving nation with Indian diaspora sending back USD 79 billion to India in 2018. This is according to the World Bank’s Migration and Development Report.
7. Karnam Sekar has been appointed as the MD & CEO of which bank?
   A) UCO Bank
   B) Indian Overseas Bank
   C) Canara Bank
   D) Indian Bank
   
   View answer

   Option B
   Explanation: Karnam Sekar has been appointed as the MD and CEO of Indian Overseas Bank (IOB) and will take charge from July 1, 2019.
8. Which Bank in India has become the first destination bank to go live with Net Banking and Debit Card-based e-mandate?
   A) Yes Bank
   B) HDFC Bank
   C) Axis Bank
   D) Kotak Mahindra Bank
   
   View answer

   Option D
   Explanation: Kotak Mahindra Bank has launched debit card-based e-mandate on NPCI’s API platform. With this Kotak Mahindra Bank has become the first Destination Bank to go live with Net Banking and Debit Card-based e-mandate authentication.
9. What is the minimum subscription requirement for Infrastructure Investment Trusts (InvITs) as determined by SEBI?
   A) Rs 1 lakh
   B) Rs 2 lakh
   C) Rs 5 lakh
   D) Rs 7 lakh
   
   View answer

   Option A
   Explanation: Minimum subscription requirement for InvITs: Rs 1 lakh (and its multiple) [earlier its was Rs 10 lakhs]
10. Which of these banks has launched ‘‘AnyTimeHealth (ATH)’ machines in partnership with Max Bupa Health insurance company?
    A) Punjab National Bank
    B) Kotak Mahindra Bank
    C) HDFC Bank
    D) Bank of India
    
    View answer

    Option C
    

Read More Banking Awareness Topics

Attempt Banking Awareness Quiz