Banking & Financial Awareness Quiz – Set 149

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. Individuals who do not have bank accounts can deposit cash at the NEFT-enabled branches upto a maximum limit of ___________
   A) Rs 20,000
   B) Rs 10,000
   C) Rs 25,000
   D) Rs 50,000
   
   View answer

   Option D
   Explanation: Individuals who do not have a bank account (walk-in customers) can also deposit cash at the NEFT-enabled branches with instructions to transfer funds using NEFT. However, such cash remittances will be restricted to a maximum of ₹ 50,000/- per transaction. 
2. When the domestic commercial banks are unable to achieve the Priority Sector targets, they have to deposit the shortfall amount in the________________
   A) Small Enterprises Development Fund
   B) National Skill Development Fund
   C) Rural Infrastructure Development Fund 
   D) Infrastructure Debt Funds
   
   View answer

   Option C
   Explanation: The domestic commercial banks, which fail to achieve the priority sector targets, are required to deposit shortfall amounts into Rural Infrastructure Development Fund set up with NABARD and other funds as decided by the RBI. The foreign banks operating in India, who have target of 32 per cent lending to priority sector, are also required to deposit shortfall amounts into Small Enterprises Development Fund set up with Small Industries Development Bank of India (SIDBI) 
3. The Debit card issued to us by banks consists of how many digit number printed on the front of the card?
   A) 16
   B) 12
   C) 18
   D) 15
   
   View answer

   Option A
   
4. CMO is a type of security that contains a pool of mortgages bundled together and sold as an investment. Here what does C denotes in CMO?
   A) Chief
   B) Collateralized
   C) Collective
   D) Cash
   
   View answer

   Option B
   Explanation: collateralized mortgage obligation
5. The headquarter of Central Depository Services (India) Ltd (CDSL) is located at ______________?
   A) New Delhi
   B) Hyderabad
   C) Mumbai
   D) Kolkata
   
   View answer

   Option C
   
6. Which of these banks are not categorized as Differentiated Bank?
   A) Payments Banks
   B) Small Finance Banks
   C) Commercial Banks
   D) Noe of these are Differentiated banks
   
   View answer

   Option C
   Explanation: There are two kinds of banking licences that are granted by the Reserve Bank of India – Universal Bank Licence and Differentiated Bank Licence. Small Finance Banks and Payment Banks are examples of differentiated banks in India
7. The formation of Small Finance Banks (SFBs) was recommended by which committee?
   A) Usha Thorat
   B) Nachiket Mor
   C) Bimal Jalan
   D) Yusuf Hamied
   
   View answer

   Option B
   
8. A specialised financial institutions responsible for safeguarding a firm’s or individual’s financial assets and not involved in any commercial or retail banking is known as________
   A) Custodian Banks
   B) Utility Bank
   C) Retail Bank
   D) Industrial Bank
   
   View answer

   Option A
   Explanation:Custodian Banks
9. The Indian Coinage Act is an Act to govern the laws related to Coinage and Mints in India. It was enacted in which year?
   A) 1912
   B) 1940
   C) 1924
   D) 1906
   
   View answer

   Option D
   Explanation:2 March 1906
10. Banks are required to classify non ­performing assets on the basis of time duration into how many categories?
    A) 2
    B) 4
    C) 3
    D) 5
    
    View answer

    Option C
    Explanation:Banks are required to classify non ­performing assets further into the following three categories based on the period for which the asset has remained non­ performing and the realisability of the dues:

    • Sub­standard Assets
    • Doubtful Assets
    • Loss Assets

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