Banking & Financial Awareness Quiz – Set 141

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. Which of the following reports is not released by the World Bank?
   A) World Development Report
   B) Ease of Doing Business
   C) Global Financial Stability Report
   D) Global Economic Prospects
   
   View answer

   Option C
   Explanation: Global Financial Stability Report is published by IMF
2. Banks are not allowed to pay interest on savings banks account at ___________ basis
   A) monthly
   B) quarterly
   C) half yearly
   D) annually
   
   View answer

   Option A
   Explanation: Banks can pay interest on savings bank accounts at quarterly or longer rests (not at lesser interval).
3. Which of these is a compulsory document for sending outward remittances under Liberalised Remittance Scheme (LRS)?
   A) Pass Book
   B) Aadhaar
   C) Passport
   D) PAN Card
   
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   Option D
   Explanation: It is mandatory under the Liberalised Remittance Scheme (LRS) to have Permanent Account Number (PAN) for sending outward remittances.
4. The banks classify a stressed account as SMA-2 sub category if the principal or interest payment is overdue between
   A) 31-60 days
   B) 61-90 days
   C) 15-30 days
   D) 30-90 days
   
   View answer

   Option B
   
5. Which of these banks merged with United Industrial Bank Limited in 1989?
   A) Canara Bank
   B) Punjab National Bank
   C) Allahabad Bank
   D) United Bank of India
   
   View answer

   Option C
   
6. The return on debt is known as___________
   A) Interest
   B) Debenture
   C) Share
   D) Dividend
   
   View answer

   Option A
   
7. Which of these is true about BSBDA-Small Account?
   A) The minimum balance in Small Accounts shoulds not be less than Rs 1000
   B) Small Accounts can only be opened at CBS linked branches of banks
   C) These accounts are valid for a period of 6 months initially
   D) Such accounts cannot be opened without Aadhar documents
   
   View answer

   Option B
   
8. Which Section of Banking Regulation Act 1949 gives power to RBI to specify SLR for SCBs?
   A) Section 42
   B) Section 14
   C) Section 38
   D) Section 24
   
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   Option D
   Explanation: Section 24 of the Banking Regulation Act, 1949 provides for the Reserve Bank to prescribe the SLR for SCBs in specified assets. 
9. What is the minimum level of lending prescribed by RBI for domestic scheduled commercial banks and foreign banks with 20 or more branches for lending to priority sector in terms of percentage of ANBC?
   A) 30%
   B) 50%
   C) 40%
   D) 20%
   
   View answer

   Option C
   
10. In CAD, D denotes Current Account ___________
    A) Deficit
    B) Default
    C) Deposit
    D) Derivative
    
    View answer

    Option A
    Explanation: Deficit

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