Banking Awareness Quiz

Banking Awareness Quiz – Set 255: 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. DRIP index is managed by?
   A) ICRA
   B) CARE
   C) CRISIL
   D) SMERA
   
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     Option C
   Explanation: Crisil DRIP index measures rainfall.
2. The first ATM in India was set up in which year?
   A) 1980
   B) 1987
   C) 1990
   D) 1992
   
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     Option B
   Explanation: The first ATM in India was set up in 1987 by HSBC in Mumbai.
3. CRISIL DRIP Index measures which quantity?
   A) stock movement
   B) rainfall levels
   C) GDP
   D) GNP
   
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   Option B
   Explanation: rainfalls
4. _______ is the largest network of shared automated teller machines in India.
   A) Swadhan
   B) IDRBT
   C) NPCI
   D) NFS
   
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   Option D
   Explanation: National Financial Switch is the largest network of shared automated teller machines in India.
5. Under a “corridor” system the ______ works as the policy rate.
   A) repo rate
   B) reverse repo rate
   C) bank rate
   D) CRR
   
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   Option A
   Explanation: Under a “corridor” system – i.e., with a ceiling and a floor rate – the repo rate, that is, the rate at which central banks inject liquidity, works as the policy rate.
6. Under a “floor” system, the ________ works as the policy rate.
   A) repo rate
   B) SLR
   C) reverse-repo rate
   D) CRR
   
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   Option C
   Explanation: under a “floor” system, the reverse-repo rate, i.e., the rate at which central banks absorb liquidity, works as the policy rate.
7. National Financial Switch is owned by?
   A) IDRBT
   B) NPCI
   C) RBI
   D) Commercial Banks
   
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   Option B
   Explanation: IDRBT handed over the National Financial Switch to the NPCI on 14 December 2009.
8. ________ of loans and advances is a procedure to modify the terms and conditions of an existing loan in order to alleviate the difficulties in repayment by the borrower.
   A) Restructuring
   B) Removal
   C) Moratorium
   D) Identification
   
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   Option A
   Explanation: Restructuring of loans and advances is a procedure to modify the terms and conditions of an existing loan in order to alleviate the difficulties in repayment by the borrower due to temporary cash flow problems or general economic downturn.
9. The person to whose account payment is directed to be made in a payment order is known as?
   A) Sender
   B) Beneficiary
   C) Executor
   D) Originator
   
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   Option B
   Explanation:
10. CRILC has been setup by?
    A) NPCI
    B) RBI
    C) IBA
    D) SBI
    
    View answer

    Option B
    Explanation: Within the RBI, the CRILC is in operation since 2014-15.

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