Banking Awareness Quiz – Set 234

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 a monetary policy tool under which a large sum of new money is printed and distributed among the public for spending?
   A) Helicopter Money
   B) TLTRO
   C) LTRO
   D) Narrow Money
   
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     Option A
   Explanation: Helicopter Money is an unconventional monetary policy tool under which a large sum of new money is printed and distributed among the public for spending.
2. What is the other name for “Rupee denominated bonds overseas”?
   A) IPO Bond
   B) Overseas Bond
   C) Indian Rated Bond
   D) Masala Bond
   
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     Option D
   Explanation: A Masala Bond is a type of bond which is issued by any company, denominated in Indian Rupee and issue outside India.
3. Who coined the term Helicopter Money?
   A) Joseph Stiglitz
   B) Jeffrey Sachs
   C) Milton Friedman
   D) Paul Samuelson
   
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   Option C
   Explanation: The term was coined by American economist Milton Friedman in 1969.
4. What is the minimum quantity of gold to be deposited under the Gold Monetization Scheme?
   A) 20 grams
   B) 30 grams
   C) 40 grams
   D) 50 grams
   
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   Option B
   Explanation: Minimum Quantity of Gold: The minimum deposit at any one time shall be 30 grams
5. What is the limit for Investment in equipments in Service Sector of Medium Enterprise?
   A) More than Rs 10 lakh but does not exceed Rs 2 crore
   B) More than Rs 5 crore but does not exceed Rs 10 crore
   C) More than Rs 2 crore but does not exceed Rs 5 crore
   D) More than Rs 25 lakh but does not exceed Rs 5 crore
   
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   Option C
   Explanation: More than Rs 2 crore but does not exceed Rs 5 crore
6. Which of the following bank cannot issue Kisan Credit Card?
   A) Regional Rural Bank
   B) Small Finance Bank
   C) Cooperative Bank
   D) Payments Bank
   
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   Option D
   Explanation: Payments Bank cannot lend
7. Which of the following bank is also known as BRICS Bank?
   A) New Development Bank
   B) ADB
   C) AIIB
   D) IMF
   
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   Option A
   Explanation: New Development Bank was established by the BRICS nations of Brazil, Russia, India, China and South Africa with an aim to mobilize resources for infrastructure and sustainable development projects in BRICS economies.
8. A bank may provide differential rates of interest in savings account above __________ .
   A) Rs 4 lakh
   B) Rs 3 lakh
   C) Rs 2 lakh
   D) Rs 1 lakh
   
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   Option D
   Explanation: A bank may provide differential rates of interest in savings account above Rs 1 lakh.
9. Under the Liberalised Remittance Scheme (LRS), what is the maximum amount (total) that can be remitted in a Financial Year?
   A) USD 2,50,000
   B) USD 25,000
   C) USD 1,25,000
   D) USD 1,00,000
   
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   Option A
   Explanation: Maximum Frequency of Remittance: There are no restrictions on the frequency of remittances under LRS. However, the sum total of all remittance should not be more than USD 2,50,000 in a Financial Year.
10. For short duration crops, a loan is said to be NPA when the instalment of principal or interest thereon remains overdue for ______ crop seasons.
    A) 1
    B) 2
    C) 3
    D) 4
    
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    Option B
    Explanation: For short duration crops- the instalment of principal or interest thereon remains overdue for two crop seasons. For long duration crops- the instalment of principal or interest thereon remains overdue for one crop season.

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