Banking Awareness Quiz

Banking Awareness Quiz – Set 242: 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. Primary (Urban) Co-operative Banks (UCBs) may be placed under Supervisory Action Framework (SAF) when its CRAR falls below __________.
   A) 8%
   B) 7%
   C) 9%
   D) 10%
   
   View answer

     Option C
   Explanation: A UCB may be placed under SAF when its CRAR falls below 9%.
2. Which entity hosts the Trade Repository Services for OTC derivatives in India?
   A) NPCI
   B) RBI
   C) SEBI
   D) CCIL
   
   View answer

     Option D
   Explanation: CCIL hosts Trade Repository Services for OTC Rate, Credit and Forex Derivatives.
3. Longest IBAN envisages _______ digits IBAN for the banks in India.
   A) 34
   B) 26
   C) 18
   D) 20
   
   View answer

   Option B
   Explanation: Longest IBAN is most suitable for the country. Longest IBAN envisages 26 digits IBAN for the banks in India with 18 digit account number, 4 digit bank code, 2 digit country code and 2 check digits. 
4. City Code, Bank Code and Branch Code forms a part of which of the following codes of the banking industry?
   A) IFS Code
   B) MICR Code
   C) BSR Code
   D) MMID
   
   View answer

   Option B
   Explanation: MICR Code has 9 digits. 3 each in City Code, Bank Code and Branch Code
5. The IFSC is an eleven-digit alpha-numeric code based on the pattern followed by _____________.
   A) World Bank
   B) SWIFT
   C) IMF
   D) NEFT
   
   View answer

   Option B
   Explanation: The IFSC is an eleven-digit alpha-numeric code based on the pattern followed by the Society for Worldwide Interbank Financial Telecommunication (SWIFT).
6. Which of the following is not being used presently for routing of banking transactions domestically in India.
   A) IFSC
   B) IMPS
   C) SWIFT
   D) None of these
   
   View answer

   Option C
   Explanation: SWIFT is yet to start their operation in India for domestic transactions.
7. What is the minimum retention period under the revised Voluntary Retention Route (VRR) for Investments by Foreign Portfolio Investors (FPIs)?
   A) 2 years
   B) 3 years
   C) 4 years
   D) 5 years
   
   View answer

   Option B
   Explanation: The minimum retention period shall be three years.
8. The PSLCs would have a standard lot size of _______ and multiples thereof.
   A) Rs 75 lakh
   B) Rs 10 lakh
   C) Rs 50 lakh
   D) Rs 25 lakh
   
   View answer

   Option D
   Explanation: The PSLCs would have a standard lot size of ₹ 25 lakh and multiples thereof.
9. What is the Priority Sector Lending Target for Regional Rural Banks in India?
   A) 25%
   B) 50%
   C) 75%
   D) 90%
   
   View answer

   Option C
   Explanation: 75%
10. What is the maximum compensation under the Ombudsman Scheme for Digital Transactions?
    A) Rs 10 lakhs
    B) Rs 20 lakhs
    C) Rs 30 lakhs
    D) Rs 25 lakhs
    
    View answer

    Option B
    Explanation: Rs 20 lakhs

Read Banking Awareness Topics

Attempt Banking Awareness Quiz