Banking Awareness Quiz

Banking Awareness Quiz – Set 273: 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. The Reserve Bank of India publishes the quarterly house price index (HPI) based on transaction-level data received from housing registration authorities in how many major cities?
   A) 8
   B) 10
   C) 13
   D) 15
   
   View answer

     Option B
   Explanation: The Reserve Bank of India every quarter publishes the house price index, based on transaction-level data received from housing registration authorities in ten major cities (viz., Ahmedabad, Bengaluru, Chennai, Delhi, Jaipur, Kanpur, Kochi, Kolkata, Lucknow and Mumbai).
2. A person can open savings account in which of the following bank?
   A) Reserve Bank of India
   B) NABARD
   C) EXIM Bank
   D) Small Finance Bank
   
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     Option D
   Explanation: Rest three are not for account opening for individuals.
3. After how many years of operations does a Small Finance Bank gets the status of scheduled bank?
   A) 5 years
   B) 10 years
   C) 8 years
   D) immediately upon commencement of operations
   
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   Option D
   Explanation: SFBs will be given scheduled bank status immediately upon commencement of operations;
4. Payments Bank can apply for conversion to Small Finance Bank after how many years of operation?
   A) 3 years
   B) 10 years
   C) 5 years
   D) 1 year
   
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   Option C
   Explanation: Payments Banks can apply for conversion into SFB after five years of operations, if they are otherwise eligible as per these guidelines.
5. Who chairs the meeting of Central Board of the Reserve Bank of India?
   A) Finance Minister
   B) Finance Secretary
   C) Governor of Reserve Bank of India
   D) Both A and C
   
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   Option C
   Explanation: RBI Governor
6. What is the financial year followed by the Reserve Bank of India?
   A) July- June
   B) April- March
   C) January- December
   D) July-March
   
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   Option B
   Explanation: Till 2019-20, RBI followed the financial year as July-June, And now from the year 2021-22 RBI has changed its FY as April-March, as a result the FY2020-21 saw only 9 months i.e July-March
7. RBI has announced the scheme of amalgamation of District Central Co-operative Banks (DCCBs) with the State Co-operative Bank (StCB). The proposal for amalgamation of DCCBs with the StCB will be examined by Reserve Bank in consultation with ____________.
   A) NABARD
   B) Ministry of Finance
   C) Lead Banks
   D) EXIM Bank
   
   View answer

   Option A
   Explanation: The proposal for amalgamation of DCCBs with the StCB will be examined by Reserve Bank in consultation with NABARD
8. What is the maximum amount outstanding in respect of full-KYC PPIs (KYC-compliant PPIs)?
   A) Rs 1 lakh
   B) Rs 2 lakhs
   C) RS 3 lakhs
   D) Rs 2.5 lakhs
   
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   Option B
   Explanation: The maximum amount outstanding in respect of full-KYC PPIs (KYC-compliant PPIs) has been increased from ₹1 lakh to ₹2 lakh
9. What is the cash withdrawal limit from Points of Sale (PoS) terminals (per transaction) using debit cards at Tier 1 and Tier 2 center?
   A) Rs 1000
   B) Rs 500
   C) Rs 2000
   D) Rs 5000
   
   View answer

   Option C
   Explanation: ₹2,000 per transaction within an overall monthly limit of ₹10,000 across all locations (Tier 1 to 6 centres)
10. The Reserve Bank has been extending Ways and Means Advances (WMA) to State Governments since ____________.
    A) 1947
    B) 1967
    C) 1937
    D) 1957
    
    View answer

    Option C
    Explanation: The Reserve Bank has been extending WMA to State Governments since 1937.

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