Banking Awareness Quiz

Banking Awareness Quiz – Set 276: 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 banks in the rural cooperative sector are supervised by _______ and regulated by ______.
   A) NABARD; NABARD
   B) NABARD; RBI
   C) RBI; RBI
   D) RBI; NABARD
   
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     Option B
   Explanation: The banks in the rural cooperative sector are supervised by NABARD, although regulated by the RBI.
2. What is the full form of LAF?
   A) Liquidity And Finance
   B) Local Area Finance
   C) Liquidity Adjustment Facility
   D) Loan Asset Facility
   
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     Option C
   Explanation: LAF- Liquidity Adjustment Facility- Repo/Reverse Repo
3. Priority Sector Lending is provided by banks under how many categories?
   A) 6
   B) 7
   C) 8
   D) 9
   
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   Option C
   Explanation: 8 category- Agriculture; Micro, Small and Medium Enterprises; Export Credit; Education; Housing; Social Infrastructure; Renewable Energy; Others
4. A company will not be called an NBFC if its principal business is of:
   A) insurance
   B) chit business
   C) loans and advance
   D) agriculture
   
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   Option D
   Explanation: NBFC does not include any institution whose principal business is that of: agriculture activity, industrial activity, purchase or sale of any goods (other than securities) or providing any services and sale/purchase/construction of immovable property.
5. How many Bucket are there in criteria of Systemically Important Banks?
   A) 3
   B) 5
   C) 7
   D) 9
   
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   Option B
   Explanation: 5 buckets
6. Who performs the work of “Central KYC Records Registry” (CKYCR) in India?
   A) SEBI
   B) CERSAI
   C) NSDL
   D) CDSL
   
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   Option B
   Explanation: Government of India has authorised the Central Registry of Securitisation Asset Reconstruction and Security Interest of India (CERSAI), to act as, and to perform the functions of the CKYCR.
7. How many digits/characters are thre in Indian Financial System Code (IFSC)?
   A) 8
   B) 9
   C) 11
   D) 13
   
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   Option C
   Explanation: 11
8. What is the minimum amount of gold that is to be deposited under the Gold Monetisation Scheme, 2015?
   A) 2 grams
   B) 10 grams
   C) 20 grams
   D) 30 grams
   
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   Option D
   Explanation: Minimum- 30 grams; Maximum- No Limit
9. What is the turnover limit for Medium Enterprises under Micro, Small and Medium Enterprises (MSME)?
   A) Rs 1 crore
   B) Rs 5 crore
   C) Rs 50 crore
   D) Rs 250 crore
   
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   Option D
   Explanation: Rs 250 crore for medium enterprise
10. How m any times remittance can be made under the Liberalised Remittance Scheme (LRS)?
    A) 10
    B) 12
    C) 15
    D) No such limit
    
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    Option D
    Explanation: Maximum Frequency of Remittance: There are no restrictions on the frequency of remittances under LRS. However, the sum total of all remittance should not be more than USD 2,50,000 in a Financial Year.

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