Banking Awareness Quiz
Banking Awareness Quiz – Set 269: 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.
- _____________ is a preset amount of money that a bank has agreed to lend you and that you can draw on when you need it.
A) Loan
B) Advance
C) Line of Credit
D) None of these
View answer
Option C
Explanation: Credit cards are the most common form of unsecured lines of credit.
- Which of the following organization is the nodal agency for the implementation of the ‘Interest Subvention Scheme for MSMEs 2018’ launched by Ministry of Micro, Small and Medium Enterprises (MSMEs)?
A) RBI
B) SIDBI
C) SBI
D) NPCI
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Option B
Explanation: Small Industries Development Bank of India (SIDBI) is the single national level nodal implementation agency for the scheme.
- Which of the following is the term used for storehouses where banknotes and rupee coins are stocked on behalf of the Reserve Bank for distribution to bank branches?
A) currency depot
B) coin depot
C) currency bank
D) currency chest
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Option D
Explanation: currency chest
- Which of the following denomination of bank note is currently not being issued by RBI?
A) Rs 2
B) Rs 5
C) Rs 10
D) Both A and B
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Option D
Explanation: Banknotes in India are currently being issued in the denomination of ₹10, ₹20, ₹50, ₹100 ₹200, ₹500, and ₹2000. These notes are called banknotes as they are issued by the Reserve Bank of India. The printing of notes in the denominations of ₹2 and ₹5 has been discontinued and these denominations have been coinised as the cost of printing and servicing these banknotes was not commensurate with their life. However, such banknotes issued earlier can still be found in circulation and these banknotes continue to be legal tender
- Asian Clearing Union (ACU) has how many countries as its member?
A) 7
B) 8
C) 9
D) 10
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Option C
Explanation: The Central Banks and the Monetary Authorities of Bangladesh, Bhutan, India, Iran, Maldives, Myanmar, Nepal, Pakistan and Sri Lanka are currently the members of the ACU.
- How much foreign currency can be carried in cash for travel abroad from India under normal circumstances?
A) up to USD 10,000 per visit
B) up to USD 1,000 per visit
C) up to USD 6,000 per visit
D) up to USD 3,000 per visit
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Option D
Explanation: Travellers going to all countries other than (a) and (b) below are allowed to purchase foreign currency notes / coins only up to USD 3000 per visit. (a) travellers proceeding to Iraq and Libya who can draw foreign exchange in the form of foreign currency notes and coins not exceeding USD 5000 or its equivalent per visit; (b) travellers proceeding to the Islamic Republic of Iran, Russian Federation and other Republics of Commonwealth of Independent States who can draw entire foreign exchange (up-to USD 250,000) in the form of foreign currency notes or coins.
- What is the maximum amount of Indian currency that can be brought in while coming into India?
A) Rs. 2,50,000
B) Rs. 50,000
C) Rs. 25,000
D) Rs. 15,000
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Option C
Explanation: A resident of India, who has gone out of India on a temporary visit may bring into India at the time of his return from any place outside India (other than Nepal and Bhutan), currency notes of Government of India and Reserve Bank of India notes up to an amount not exceeding Rs.25,000.
- What are the routes under which foreign investment can be made in India?
A) Automatic Route, Government Route and FAR
B) Automatic Route and Government Route
C) FAR, VRR, MTF
D) Automatic Route, Government Route, FAR, VRR, MTF
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Option B
Explanation: Automatic Route and Government Route
- The limits on cash withdrawal at ATMs and for purchase of goods and services are decided by _______.
A) RBI
B) NPCI
C) Ministry of Finance
D) card issuer
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Option D
Explanation: The limits on cash withdrawal at ATMs and for purchase of goods and services are decided by the card issuer
- What is the maximum value of transaction allowed in a CP transaction (except ATM transactions) using NFC contactless technology undertaken without AFA requirement?
A) Rs. 1,000 per transaction
B) Rs. 2,000 per transaction
C) Rs. 5,000 per transaction
D) Rs. 10,000 per transaction
View answer
Option B
Explanation: Card Present (CP). in case of CP transactions (except ATM transactions) using NFC contactless technology, transactions for a maximum value of ₹2,000/- per transaction are allowed to be undertaken without AFA requirement, subject to adherence to EMV standards.
