Banking & Financial Awareness Quiz – Set 168

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 Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) is run by____________
   A) RBI
   B) NABARD
   C) SEBI
   D) SIDBI
   
   View answer

   Option D
   Explanation: The Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) is a trust launched by the Ministry of Micro, Small and Medium Enterprises, Government of India, and run by the Small Industries Development Bank of India (SIDBI)
2. The first ever budget for India was created by _____________
   A) James Wilson
   B) Bill Emmott
   C) Andrew Knight
   D) Richard Holt Hutton
   
   View answer

   Option A
   Explanation: James Wilson, the founder of Standard Chartered Bank, created India’s first Budget in 1860. 
3. Shishu, Kishore and Tarun are the schemes working under
   A) POSHAN Abhiyaan
   B) Pradhan Mantri Jan Dhan Yojana 
   C) Pradhan Mantri MUDRA Yojana 
   D) Pradhan Mantri Ujjwala Yojana
   
   View answer

   Option C
    
4. The Economic Survey of India is presented annually by _____________
   A) RBI
   B) Ministry of Finance
   C) CSO
   D) NITI Aayog
   
   View answer

   Option B
   
5. Calibra is a subsidiary of ___________
   A) Google
   B) Microsoft
   C) Amazon
   D) Facebook
   
   View answer

   Option D
   Explanation: Facebook has also created a subsidiary called Calibra, which will offer digital wallets to save, send and spend Libras 
6. The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act came into force in which year?
   A) 2015
   B) 2014
   C) 2019 
   D) 2017
   
   View answer

   Option A
   Explanation: It aims to curb black money, or undisclosed foreign assets and income and imposes tax and penalty on such income.
7. RBI had constituted a 5 member high-level committee for deepening of digital payments. It was headed by ____________
   A) Kishore Sansi
   B) Nandan Nilekani
   C) Aruna Sharma
   D) Sanjay Jain
   
   View answer

   Option B
   
8. What is the minimum Liquidity Ratio to be maintained by Domestic Systemically Important Banks (DSIBs) at all times?
   A) 3.5%
   B) 4.5%
   C) 4%
   D) 3%
   
   View answer

   Option C
   
9. In 2019, RBI released the Vision document of Payment and Settlement Systems in India for a period of ____________ years
   A) 1 year
   B) 5 years
   C) 2 years
   D) 3 years
   
   View answer

   Option D
   Explanation: The current Vision document “Payment and Settlement Systems in India: Vision – 2019-2021” outlines the road map for the three-year period spanning from 2019 to 2021.
10. Which Section of Payment and Settlement Systems Act, 2007 empowers RBI to impose monetary penalty on PPI Issuers for non-compliance of regulatory guidelines.
    A) Section 30
    B) Section 25
    C) Section 12
    D) Section 8
    
    View answer

    Option A
    

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