Banking Awareness Quiz

Banking Awareness Quiz – Set 291: Quiz on RBI-Retail Direct Scheme. This set contains 12 important questions based on RBI-Retail Direct Scheme. 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 promotional banking exams as well. So attempt this RBI-Retail Direct Scheme now.

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1. Which organization has recently launched the Retail Direct Scheme?
   A) SEBI
   B) RBI
   C) IRDAI
   D) PFRDA
   
   View answer

     Option B
   Explanation: Reserve Bank of India-Retail Direct (RBI-RD) Scheme will bring G-secs within easy reach of the common man by simplifying the process of investment.
2. RBI has launched the Reserve Bank of India-Retail Direct (RBI-RD) Scheme for which of the following target group?
   A) Banks
   B) Retail Investors
   C) Corporates
   D) All of these
   
   View answer

     Option B
   Explanation:
3. RBI has launched the Reserve Bank of India-Retail Direct (RBI-RD) Scheme to enable retail investors to buy/sell _______.
   A) Equity
   B) Futures and Options
   C) Digital Currency
   D) Government securities
   
   View answer

   Option D
   Explanation: Reserve Bank of India-Retail Direct (RBI-RD) Scheme will bring G-secs within easy reach of the common man by simplifying the process of investment.
4. Under the RBI-RD Scheme launched by RBI, Investors can buy and sell government securities on NDS-OM. What does NDS-OM stand for?
   A) Negotiated Deferment Settlement- Order Mixing
   B) Negotiated Deferment Settlement- Order Matching
   C) Negotiated Dealing System- Order Matching
   D) Negotiated Dealing System- Order Mixing
   
   View answer

   Option C
   Explanation: Negotiated Dealing System- Order Matching
5. Under the Reserve Bank of India-Retail Direct (RBI-RD) Scheme, retail investors will have to open which type of account with RBI?
   A) Demat Account
   B) Trading Account
   C) Current Account
   D) Gilt Account
   
   View answer

   Option D
   Explanation: Retail Direct Gilt (RDG) Account
6. Payments for transactions done on Reserve Bank of India-Retail Direct (RBI-RD) Scheme can be done via?
   A) internet-banking
   B) UPI
   C) UPI and internet-banking
   D) Debit Card and UPI
   
   View answer

   Option C
   Explanation: Payments for transactions can be done conveniently using saving bank account through internet-banking or Unified Payments Interface (UPI).
7. Payments for transactions done on RBI-RD Scheme can be done via which of the following account type?
   A) Current Account
   B) Savings Account
   C) Gilt Account
   D) Both Current and Savings Account
   
   View answer

   Option B
   Explanation: Payments for transactions can be done conveniently using saving bank account through internet-banking or Unified Payments Interface (UPI).
8. What is the fees charged by RBI for opening Retail Direct Gilt (RDG) Account?
   A) Rs 500
   B) Rs 100
   C) Rs 250
   D) No Fees
   
   View answer

   Option D
   Explanation: No fees will be charged for facilities provided under the scheme.
9. Which of the following will act as Aggregator for the Reserve Bank of India-Retail Direct (RBI-RD) Scheme?
   A) CCIL
   B) NPCI
   C) SEBI
   D) SBI
   
   View answer

   Option A
   Explanation: Aggregator / Receiving Office means Clearing Corporation of India Limited (CCIL)
10. Which of the following is not a mandatory requirement for opening a RDG Account with RBI?
    A) Rupee savings bank account maintained in India
    B) Permanent Account Number (PAN) issued by the Income Tax Department
    C) Aadhaar Number
    D) Valid email id
    
    View answer

    Option C
    Explanation: Retail investors, as defined under the scheme, can register under the Scheme and maintain a RDG Account, if they have the following: i) Rupee savings bank account maintained in India; ii) Permanent Account Number (PAN) issued by the Income Tax Department; iii) Any OVD for KYC purpose; iv) Valid email id; and v) Registered mobile number.
11. RBI has allowed how many types of Retail Direct Gilt (RDG) Account to be opened by individuals?
    A) 2
    B) 3
    C) 4
    D) 5
    
    View answer

    Option A
    Explanation: single and joint
12. What is the maximum number of nominees that can be nominated in the Retail Direct Gilt (RDG) Account?
    A) 2
    B) 3
    C) 4
    D) 5
    
    View answer

    Option A
    Explanation: There can be a maximum of two nominees.

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