Banking & Financial Awareness Quiz – Set 140

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. The Global Financial Stability Report is published by ____________
   A) UNDP
   B) World Bank
   C) IMF
   D) WEF
   
   View answer

   Option C
   
2. The Bank of Punjab(POB) and Centurion Bank merged in which year?
   A) 2012
   B) 1990
   C) 1997
   D) 2005
   
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   Option D
   
3. What is the current Marginal Standing Facility Rate (MSF)?
   A) 6.00%
   B) 6.25%
   C) 6.75%
   D) 6.50%
   
   View answer

   Option B
   
4. Which of the following is not a part of RBI’s Clean Note Policy?
   A) Timely removal of old denomination currency note with new denomination currency note
   B) Education campaign on preferred way to handle notes: no stapling, writing, excessive folding among others
   C) Timely removal of soiled notes: use of currency verification and processing systems and sorting machines
   D) Exchange facility for torn, mutilated or defective notes: at all branches of commercial banks
   
   View answer

   Option A
   
5. IDR is a financial instrument with a value that increases and decreases based on movements in interest rates. Expand IDR?
   A) Income Revenue Data
   B) Interest Receipt Depository
   C) Interest Rate Derivative
   D) Immediate Ratio Discounted
   
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   Option C
   
6. The Consumer Education and Protection Department is a Customer Redressal Cell under _____________
   A) IRDAI
   B) Ministry of Finance
   C) SEBI
   D) RBI
   
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   Option D
   Explanation: The Reserve Bank of India has set up a Consumer Education and Protection Cell (CEP Cell) in all its Regional Offices.
7. The ‘lender of the last resort’ comes under which function of RBI?
   A) Issuer of Currency
   B) Banker to Banks
   C) Banker to Government
   D) Conducting Monetary Policy
   
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   Option B
   
8. Which Section of Payment and Settlement System Act states that no person other than the RBI can commence or operate a payment system in India?
   A) Section 21
   B) Section 12
   C) Section 4
   D) Section 8
   
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   Option C
   Explanation: In terms of Section 4 of the PSS Act, no person other than the Reserve Bank of India (RBI) can commence or operate a payment system in India unless authorised by RBI.
9. The Central Government is required to maintain a minimum cash balance of Rs _____________on every Friday with the Reserve Bank
   A) Rs 25 crore
   B) Rs 10 crore
   C) Rs 50 crore
   D) Rs 100 crore
   
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   Option D
   Explanation: Under the administrative arrangements, the Central Government is required to maintain a minimum cash balance with the Reserve Bank. Currently, this amount is Rs.10 crore on a daily basis and Rs.100 crore on Fridays, as also at the annual account closing day of the Centre and the Reserve Bank (end of March and June).
10. The Special Data Dissemination Standard (SDDS) is a product by___________
    A) IMF
    B) World Bank
    C) Reserve Bank of India
    D) World Economic Forum
    
    View answer

    Option A
    Explanation:The Special Data Dissemination Standard (SDDS) was established by IMF in 1996 to guide members that have, or might seek, access to international capital markets in providing their economic and financial data to the public.

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