Banking Awareness Quiz

Banking Awareness Quiz – Set 293: This post contains Banking Awareness Quiz for Banking and Insurance exams like IBPS PO/Clerk, SBI PO/Clerk, RBI Assistant/ GRADE B, NABARD, RRB PO/Clerk, NIACL, NICL and LIC AAO/Assistant etc. These Banking Awareness sets will guide you in all upcoming banking and insurance exams.

1. What does SMA stand for in relation to Non-Performing Assets (NPA)?
   A) stressed mention accounts
   B) special mention accounts
   C) systematic monetary accounts
   D) stressed maintained account
   
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     Option B
   Explanation: special mention accounts
2. Cash credit/Overdraft (CC/OD) account is classified as NPA if it is ____________.
   A) under stress
   B) overlapped
   C) interest-free
   D) out of order
   
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     Option D
   Explanation: ‘out of order’. an account shall be treated as ‘out of order’ if: the outstanding balance in the CC/OD account remains continuously in excess of the sanctioned limit/drawing power for 90 days, or the outstanding balance in the CC/OD account is less than the sanctioned limit/drawing power but there are no credits continuously for 90 days, or the outstanding balance in the CC/OD account is less than the sanctioned limit/drawing power but credits are not enough to cover the interest debited during the previous 90 days period.
3. Gold Monetization Scheme is managed by?
   A) Central Government
   B) Reserve Bank of India
   C) State Bank of India
   D) All commercial banks
   
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   Option B
   Explanation: RBI
4. The Indo-Nepal Remittance Facility Scheme (Scheme) was launched by RBI in which year?
   A) 2006
   B) 2007
   C) 2008
   D) 2010
   
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   Option C
   Explanation: The Indo-Nepal Remittance Facility Scheme (Scheme) was launched by the Reserve Bank of India in May 2008
5. The Indo-Nepal Remittance Facility Scheme (Scheme) leverages which of the following payments system?
   A) NEFT
   B) RTGS
   C) UPI
   D) IMPS
   
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   Option A
   Explanation: The Scheme leverages the National Electronic Funds Transfer (NEFT) ecosystem available in the country
6. What is the ceiling per transaction done via online mode under the Indo-Nepal Remittance Facility Scheme (Scheme)?
   A) Rs 50,000
   B) Rs 1 lakh
   C) Rs 1.5 lakh
   D) Rs 2 lakh
   
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   Option D
   Explanation: Increased from Rs 50,000 to Rs 2 lakh
7. Which of the following body has been set up with an objective to set standards and promote effective implementation of legal, regulatory and operational measures for combating money laundering, terrorist financing and other related threats to the integrity of the international financial system?
   A) IMF
   B) World Bank
   C) ADB
   D) FATF
   
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   Option D
   Explanation: Financial Action Task Force (FATF)
8. What is the contribution of RBI In Payments Infrastructure Development Fund (PIDF)?
   A) Rs 345 crore
   B) Rs 150 crore
   C) Rs 500 crore
   D) Rs 250 crore
   
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   Option D
   Explanation: Rs 250 crore
9. A micro-enterprise is an enterprise where the investment in plant and machinery or equipment does not exceed ______ and turnover does not exceed ________.
   A) Rs. 1 crore; Rs. 5 crore
   B) Rs. 5 crore; Rs. 10 crore
   C) Rs. 10 crore; Rs. 50 crore
   D) Rs. 50 crore; Rs. 250 crore
   
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   Option A
   Explanation: (i) A micro enterprise is an enterprise where the investment in plant and machinery or equipment does not exceed ₹1 crore and turnover does not exceed ₹5 crore; (ii) A small enterprise is an enterprise where the investment in plant and machinery or equipment does not exceed ₹10 crore and turnover does not exceed ₹50 crore; and (iii) A medium enterprise is an enterprise where the investment in plant and machinery or equipment does not exceed ₹50 crore and turnover does not exceed ₹250 crore.
10. Certified Credit Counsellors are required to be registered with?
    A) RBI
    B) SEBI
    C) SIDBI
    D) IRDAI
    
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    Option C
    Explanation: Certified Credit Counsellors are institutions or individuals registered with SIDBI who shall assist MSMEs in preparing project reports in a professional manner which would, in turn, help banks make more informed credit decisions.

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