Banking Awareness Quiz

Banking Awareness Quiz – Set 267: 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. For which of the following bank type it is not mandatory to exchange mutilated and defective banknotes?
   A) Public Sector Bank
   B) Private Sector Bank
   C) Regional Rural Bank
   D) Small Finance Bank
   
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     Option D
   Explanation: Small Finance Banks and Payment Banks may exchange mutilated and defective notes at their option.
2. The coins of 25 paise and below are now termed as?
   A) Soiled Coins
   B) Uncurrent Coins
   C) Short Coins
   D) Valid Coins
   
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     Option B
   Explanation: Uncurrent Coins- The coins of 25 paise and below, issued from time to time, ceased to be legal tender for payments as well as account with effect from June 30, 2011 in terms of Gazette Notification No. 2529 dated December 20, 2010 issued by the Government of India.
3. The World Bank has how may arms?
   A) 3
   B) 4
   C) 5
   D) 6
   
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   Option C
   Explanation: 5 arms
4. What step will the bank take if a customer deposits/exchange Counterfeit Note on the counter of the bank?
   A) exchange the bank note with suitable denomination
   B) impound the counterfeit notes
   C) exchange the bank note and inform the local police about the counterfeit note
   D) return the bank note
   
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   Option B
   Explanation: impound the counterfeit notes
5. Asian Clearing Union (ACU) has how many members?
   A) 5
   B) 7
   C) 9
   D) 10
   
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   Option C
   Explanation: Asian Clearing Union (ACU) is a payment arrangement whereby the participants settle payments for intra-regional transactions among the participating central banks on a net multilateral basis.
6. Central Repository of Information on Large Credits (CRILC) has been constituted by?
   A) SEBI
   B) ICRA
   C) RBI
   D) Ministry of Finance
   
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   Option C
   Explanation: The RBI has set up a Central Repository of Information on Large Credits (CRILC) to collect, store, and disseminate credit data to lenders
7. What is the periodicity of settlement batches in National Electronic Funds Transfer (NEFT) System?
   A) one hour
   B) half hour
   C) 15 mins
   D) 5 mins
   
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   Option B
   Explanation: There will be 48 half-hourly batches every day.
8. CISBI portal is owned by?
   A) SEBI
   B) RBI
   C) IRDAI
   D) PFRDA
   
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   Option B
   Explanation: Central Information System for Banking Infrastructure (CISBI)
9. What is the maximum permissible limit for processing of e-mandate on cards for recurring transactions?
   A) Rs 1000
   B) Rs 2000
   C) Rs 3000
   D) Rs 4000
   
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   Option B
   Explanation: The maximum permissible limit for a transaction under this arrangement shall be Rs. 2,000.
10. What is the starting time for Real Time Gross Settlement (RTGS) System?
    A) 6 AM
    B) 7 AM
    C) 8 AM
    D) 9 AM
    
    View answer

    Option B
    Explanation: 7 AM

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