Banking & Financial Awareness Quiz – Set 148

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 section of RBI Act describes the legal tender character of Indian bank notes?
   A) Section 21
   B) Section 26
   C) Section 28
   D) Section 24
   
   View answer

   Option B
   Explanation:Section 26 of Act describes the legal tender character of Indian bank notes.
2. The website ‘Paisa Bolta Hai’ is owned by______________
   A) LIC
   B) Ministry of Finance
   C) SBI
   D) RBI
   
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   Option D
   Explanation: The RBI website Paisa Bolta Hai with tag line “Pehchano Paaise ki Boli Kyonki Paisa Bolta Hai” gives different check points for detection of Fake Currencies.
3. A decentralized market, without a central physical location, where market participants trade with one another directly is known as________________
   A) Derivative Market
   B) Third & Fourth Markets
   C) Over-The-Counter Market
   D) Third & Fourth Markets
   
   View answer

   Option C
   
4. ____________ is bank that coordinates the efforts of all banks in the particular area for credit expansion to sectors which are important to economy.
   A) Corespondent Bank
   B) Lead Bank
   C) Regional Bank
   D) Local Bank
   
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   Option B
   Explanation: The lead bank acts as a leader for coordinating the efforts of all credit institutions in the allotted districts to increase the flow of credit to agriculture, small-scale industries and other economic activities included in the priority sector in the rural and semi-urban areas, with the district being the basic unit in terms of geographical area.
5. How many basic rights does a bank customers enjoy as stated in the Charter of Customer Rights released by RBI?
   A) 7
   B) 6
   C) 4
   D) 5
   
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   Option D
   Explanation: RBI has released a Charter of Customer Rights specifying five basic rights that bank customers enjoy.  Right to Fair Treatment; Right to Transparency, Fair and Honest Dealing; Right to Suitability; Right to Privacy; Right to Grievances Redress and Compensation
6. Which of these is not a secured bond?
   A) Debenture
   B) Mortgage bond
   C) Equipment bond
   D) All the above
   
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   Option A
   Explanation:Secured bonds are collateralized by assets such as property, equipment or another income stream
7. e-Kuber facility has been launched by___________
   A) SEBI
   B) SBI
   C) RBI
   D) NABARD
   
   View answer

   Option C
   Explanation: e-Kuber is the Core Banking Solution of Reserve Bank of India.
8. Which of the following stock exchanges are not authorised to provide the trading facility of Exchange-traded currency futures?
   A) Calcutta Stock Exchange
   B) NSE
   C) BSE
   D) MCX-Stock Exchange
   
   View answer

   Option A
   Explanation: Exchange-traded currency futures are permitted in India. Such trading facilities are currently being offered by the National Stock Exchange, the Bombay Stock Exchange and the MCX-Stock Exchange.
9. Which section of the Payment and Settlement Systems Act gives the power to RBI to determine standards?
   A) Section 20
   B) Section 10
   C) Section 8
   D) Section 21
   
   View answer

   Option B
   
10. NFS is the largest network of shared automated teller machines in India. Expand NFS.
    A) National File System
    B) Network FinTech Solution
    C) New Functional Structure
    D) National Financial Switch
    
    View answer

    Option D
    Explanation: National Financial Switch

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