Banking Awareness Quiz

Banking Awareness Quiz – Set 277: These questions on Banking Awareness 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. BRBNMPL is owned by?
   A) Ministry of Finance
   B) Reserve Bank of India
   C) SEBI
   D) IRDAI
   
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     Option B
   Explanation: Bharatiya Reserve Bank Note Mudran Private Limited(BRBNMPL) is a wholly owned subsidiary of RBI.
2. Presently, State Bank of India has how many associate banks?
   A) 5
   B) 6
   C) 7
   D) 0
   
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     Option D
   Explanation: All earlier associates of SBI has been merged with SBI.
3. Which fund transfer mechanism can be used for transferring fund to Nepal under Indo- Nepal Remittance Facility scheme?
   A) RTGS
   B) IMPS
   C) NEFT
   D) All of these
   
   View answer

   Option C
   Explanation: The Indo-Nepal Remittance Facility is based on NEFT.
4. The type of cheque issued by a holder to the payee for the upcoming withdrawn date is known as?
   A) post-dated cheque
   B) stale cheque
   C) ante Dated Cheque
   D) pre-dated cheque
   
   View answer

   Option A
   Explanation: post dated- date is yet to come; ante-dated- date already crossed.
5. Banks with only a digital presence and no physical branches is known as?
   A) Islamic Bank
   B) Neo Bank
   C) Geo Bank
   D) Global Bank
   
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   Option B
   Explanation: A neobank is a kind of digital bank without any branches.
6. When funds are borrowed for a period of 2 to 14 days then it is known as?
   A) Call Money
   B) Notice Money
   C) Repo Money
   D) Periodic Money
   
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   Option B
   Explanation: For 1 day- Call money; For 2 to 14 days- notice money.
7. __________ is a type of financial vehicle made up of a pool of money collected from many investors to invest in securities like stocks, bonds, money market instruments, and other assets.
   A) Repo
   B) Reverse Repo
   C) ETF
   D) Mutual fund
   
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   Option D
   Explanation: Mutual Fund
8. Financial Benchmark India Pvt. Ltd (FBIL) is owned by?
   A) FEDAI
   B) FIMMDA
   C) IBA
   D) All of these
   
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   Option D
   Explanation: The FBIL, jointly owned by FIMMDA, FEDAI and IBA, was formed in December 2014 as a private limited company under the Companies Act 2013.
9. ____________ provides a network that enables financial institutions worldwide to send and receive information about financial transactions in a secure, standardized and reliable environment?
   A) IFSC
   B) INFINET
   C) SWIFT
   D) INTRANET
   
   View answer

   Option C
   Explanation: The Society for Worldwide Interbank Financial Telecommunication
10. A swift code consists of how many characters?
    A) 7
    B) 13
    C) 11
    D) 20
    
    View answer

    Option C
    Explanation: The SWIFT code consists of 8 or 11 characters. When 8-digits code is given, it refers to the primary office.

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