Banking Awareness Quiz

Banking Awareness Quiz – Set 259: 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. Udyam Registration Certificate is related to registration of?
   A) Banks
   B) MSME
   C) e-commerce
   D) Khadi Industry
   
   View answer

     Option B
   Explanation: Udyam Registration is also known as MSME Registration
2. At present which entity is the umbrella organization for retail payment in India?
   A) RBI
   B) SBI
   C) NPCI
   D) RuPay
   
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     Option C
   Explanation: National Payments Corporation of India (NPCI)
3. The interest in Sovereign Gold Bond is paid on _____ basis.
   A) half yearly
   B) yearly
   C) monthly
   D) quarterly
   
   View answer

   Option A
   Explanation: The interest on the SGB, as applicable, shall be paid on a half yearly basis.
4. Legal Entity Identifier (LEI) code has how many characters?
   A) 10
   B) 15
   C) 20
   D) 25
   
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   Option C
   Explanation: The LEI is a 20-character unique identity code assigned to entities who are parties to a financial transaction.
5. Which entity has the powers to impose monetary penalty in respect of certain contraventions as well as compound certain contraventions in case of payments system in India?
   A) NPCI
   B) RBI
   C) Ministry of Finance
   D) NPCI and RBI
   
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   Option B
   Explanation: Reserve Bank of India
6. Capturing of live location of the customer for KYC purpose is known as?
   A) Thermal tagging
   B) Geo-locating
   C) Geotagging
   D) Co-locating
   
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   Option C
   Explanation: Live location of the customer (Geotagging) shall be captured to ensure that customer is physically present in India
7. What is the lending/borrowing period in case of Call Money?
   A) 1 day
   B) 2 days to 14 days
   C) 2 days
   D) 14 days
   
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   Option A
   Explanation: Call Money- 1 day; Notice Money- 2 to 14 days
8. What does M stands for in MUNFI?
   A) Multiple
   B) Monitoring
   C) Money
   D) Measure
   
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   Option B
   Explanation: Monitoring Universe of Non-bank Financial Intermediation, includes OFIs, pension funds, insurance corporations and financial auxiliaries
9. Negotiable Instruments Act (NI Act) was enacted in which year?
   A) 1991
   B) 1811
   C) 1881
   D) 1911
   
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   Option C
   Explanation: NI Act 1881
10. RTGS was introduced in India in which year?
    A) 2001
    B) 2002
    C) 2003
    D) 2004
    
    View answer

    Option D
    Explanation: In 2004

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