Quiz on Banking Awareness

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Number of Questions: 10

1. The implementation of Indian Accounting Standards (IndAS) for banks has been deferred to ____.
   A) 31 March 2019
   B) 01 April 2020
   C) 01 April 2019
   D) 31 March 2020
   
   View answer

     Option C
   Explanation: Reserve Bank of India (RBI) gave another relief to the banks by delaying the implementation of Indian Accounting Standards (IndAS) by one year, to April 2019.
2. RBI reviewed the Guidelines on STRIPS for government securities. What does R stands for in STRIPS?
   A) Regulated
   B) Reimbursed
   C) Robust
   D) Registered
   
   View answer

     Option D
   Explanation: Separate Trading of Registered Interest and Principal of Securities
3. With a view to build up adequate reserves to protect against increase in yields in future, all banks are required to create which of the following reserves from 2018-19?
   A) MTM
   B) IFR
   C) AFR
   D) IRS
   
   View answer

   Option B
   Explanation: Further, with a view to building up of adequate reserves to protect against increase in yields in future, all banks are advised to create an Investment Fluctuation Reserve (IFR) with effect from the year 2018-19
4. For raising External Commercial Borrowings (ECB) for working capital with minimum maturity period of 3/5 years, the overall ceiling for such ECBs shall be?
   A) USD 50 billion
   B) USD 50 million
   C) USD 10 million
   D) USD 10 billion
   
   View answer

   Option D
   Explanation: USD 10 billion equivalent
5. Payments Bank and Small Finance Banks are eligible to participate in Call Money Market as _____?
   A) Only Borrowers
   B) Only Lenders
   C) Both Borrowers and Lenders
   D) They cannot participate in Call Money Market
   
   View answer

   Option C
   Explanation: They can participate both as Borrowers and Lenders in Call Money Market
6. For the purpose of ensuring that all its sponsors are fit and proper, every Asset Reconstruction Companies (ARCs) have to obtain declaration from all its sponsors within ______ of the close of financial year.
   A) 14 days
   B) 1 month
   C) 2 months
   D) 3 months
   
   View answer

   Option B
   Explanation: Within 1 month
7. As per the Internal Ombudsman Scheme 2018, all SCBs in India having more than ____ banking outlets are required to appoint Internal Ombudsman (IOs).
   A) 15
   B) 50
   C) 10
   D) 20
   
   View answer

   Option C
   Explanation: 10 and RRBs are excluded from this
8. Which organization computes and disseminates reference rates for INR/USD in India?
   A) RBI
   B) FBIL
   C) SEBI
   D) Ministry of Finance
   
   View answer

   Option B
   Explanation: Financial Benchmark India Private Ltd (FBIL
9. National Payment Corporation of India(NPCI) has gained the status of being a SIPI. What does the 2^nd I in SIPI stands for?
   A) Important
   B) Interface
   C) Infrastructure
   D) Institution
   
   View answer

   Option C
   Explanation: Systemically Important Payment Infrastructure
10. RBI has instructed banks to introduce swappable locked cassettes for ATM and at least ____ ATMs must have cassette swap by March 31, 2021.
    A) one fourth
    B) one third
    C) half
    D) one fifth
    
    View answer

    Option B
    Explanation: atleast 1/3

 

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