Banking Awareness Quiz

Banking Awareness Quiz – Set 244: 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. In which year was National Centre for Financial Education (NCFE) set up?
   A) 2012
   B) 2013
   C) 2014
   D) 2015
   
   View answer

     Option B
   Explanation: National Centre for Financial Education (NCFE) is a Section 8 (Not for Profit) Company
2. Which of the following is not a promoter of National Centre for Financial Education (NCFE)?
   A) RBI
   B) SEBI
   C) IRDAI
   D) SIDBI
   
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     Option D
   Explanation: National Centre for Financial Education (NCFE) is a Section 8 (Not for Profit) Company promoted by Reserve Bank of India (RBI), Securities and Exchange Board of India (SEBI), Insurance Regulatory and Development Authority of India (IRDAI) and Pension Fund Regulatory and Development Authority (PFRDA).
3. What is the full form of CICO?
   A) Cash In Cash Out
   B) Coded Into Cash Object
   C) Cash Into Cash Object
   D) Coded Integrated Cash Out
   
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   Option A
   Explanation: CICO network was in news recently
4. _____________ are networks of issuing and acquiring banks through which payment cards of certain brand are processed.
   A) Card Network
   B) Payment Network
   C) NACH
   D) SWIFT
   
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   Option A
   Explanation:
5. IMPS and UPI are examples of ?
   A) Direct Payments
   B) Proper Payments
   C) Fast Payments
   D) Restricted Payments
   
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   Option C
   Explanation: Fast payments are payments in which the transmission of the payment message and the availability of “final” funds to the payee occur in real time or near-real time and on as near to a 24-hour and seven-day (24/7) basis as possible. In India, IMPS and UPI are classified as Fast payments
6. ___________ is the rate charged to a merchant for payment processing services on debit / credit card transactions.
   A) ADR
   B) MDR
   C) NDR
   D) FDR
   
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   Option B
   Explanation: merchant discount rate (MDR)
7. Government Departments have to make _______ of their procurement from MSEs.
   A) 25%
   B) 10%
   C) 50%
   D) 75%
   
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   Option A
   Explanation: As per the MSMED Act, Government has notified procurement policy wherein PSUs/ Government Departments have to make 25% of their procurement from MSEs.
8. __________ is the apex body responsible for the development of the MSME sector.
   A) SEBI
   B) RBI
   C) SIDBI
   D) NABARD
   
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   Option C
   Explanation: SIDBI
9. Which of the following is the settlement entity for TReDS?
   A) SEBI
   B) SIDBI
   C) RBI
   D) NPCI
   
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   Option D
   Explanation: National Payments Corporation of India (NPCI) acts as settlement entity for TReDS
10. In India, MSMEs are defined based on _________ in Plant and Machinery / equipment.
    A) investment
    B) division
    C) limitations
    D) diversification
    
    View answer

    Option A
    Explanation: In India, MSMEs are defined based on investment in Plant and Machinery / equipment.

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