Banking Awareness Quiz – Set 233

Banking 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. So attempt all the sets now.

1. Which of the following is the authorized Central KYC Records Registry (CKYCR) in India?
   A) CARE
   B) CERSAI
   C) CIBIL
   D) UIDAI
   
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     Option B
   Explanation: Government of India has authorised the Central Registry of Securitisation Asset Reconstruction and Security Interest of India (CERSAI), to act as, and to perform the functions of the CKYCR
2. A bank which is incorporated in a country where it has no physical presence and is unaffiliated to any regulated financial group is known as?
   A) common bank
   B) incorporated bank
   C) small bank
   D) shell bank
   
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     Option D
   Explanation: “Shell bank” means a bank which is incorporated in a country where it has no physical presence and is unaffiliated to any regulated financial group.
3. ___________ refers to replacement of actual card details with an alternate code called the “token”.
   A) Reorganisation
   B) Altering
   C) Tokenisation
   D) Codenisation
   
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   Option C
   Explanation: Tokenisation refers to replacement of actual card details with an alternate code called the “token”, which shall be unique for a combination of card, token requestor and device
4. ____________ is the practice of funding a project or venture by raising small amounts of money from a large number of people.
   A) Crowdfunding
   B) Source funding
   C) Organised funding
   D) Legal funding
   
   View answer

   Option A
   Explanation: Crowdfunding
5. Conversion of the token back to actual card details is known as ______________.
   A) reverse tokenisation
   B) de-tokenisation
   C) re-tokenisation
   D) altered tokenisation
   
   View answer

   Option
   Explanation: Conversion of the token back to actual card details is known as de-tokenisation.
6. Which of the new denomination bank note has motif of Ellora Caves?
   A) Rs 10
   B) Rs 20
   C) Rs 50
   D) Rs 100
   
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   Option B
   Explanation: The new Rs 20 denomination note has motif of Ellora Caves on the reverse.
7. As per RBIs direction, all ATMs shall be operated for cash replenishment only with digital OTC locks. What does T stands for in OTC?
   A) Tabular
   B) Task
   C) Time
   D) Table
   
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   Option C
   Explanation: One Time Combination
8. What is the minimum paid up capital requirement for Primary (Urban) Co-operative Banks (UCBs) to become Small Finance Bank?-
   A) Rs 200 crore
   B) Rs 50 crore
   C) Rs 100 crore
   D) Rs 500 crore
   
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   Option C
   Explanation: Rs 100 Crore
9. Where is the headquarters of United Overseas Bank Limited located?
   A) Singapore
   B) Delhi
   C) Kathmandu
   D) Colombo
   
   View answer

   Option A
   Explanation: United Overseas Bank Limited is a Singaporean multinational banking organisation headquartered in Singapore, with branches mostly found in most Southeast Asian countries.
10. Which of the following is a web based reporting system introduced by RBI to maintain the directory of all bank branches?
    A) CIBSI
    B) CISBI
    C) CIISB
    D) CSBIS
    
    View answer

    Option B
    Explanation: Central Information System for Banking Infrastructure (CISBI)

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