Banking Awareness Quiz
Banking Awareness Quiz – Set 303: 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.
- What does C in FCNR stands for?
A) Counted
B) Count
C) Current
D) Currency
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Option D
Explanation: FCNR stands for Foreign Currncy Non-Resident Account (Banks) Account Opening. This is a kind of fixed deposit account opened for depositing income earned overseas. The account is held in foreign currency. Account available in a choice of 7 currencies: USD, GBP, JPY, CAD, AUD, SGD, and HK.
- In which year was Repco bank established?
A) 1955
B) 1982
C) 1962
D) None of the above
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Option D
Explanation: Repco Bank is a cooperative Bank established by the Government of India in 1969 to improve financial needs of repatriates from neighbouring countries mainly from Sri Lanka and Burma.
- Who developed NFS?
A) NPCI
B) SEBI
C) IDRBT
D) SIDBI
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Option C
Explanation: National Financial Switch (NFS) ATM network having 37 members and connecting about 50,000 ATMs was taken over by NPCI from Institute for Development and Research in Banking Technology (IDRBT) on December 14, 2009.
- Which among the following section of Banking Regulation Act 1949, gives RBI power to impose penalty?
A) Section 47A
B) Section 48
C) Section 49
D) Section 49A
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Option A
Explanation: Section 47A power of reserve Bank to impose penalty, Section 48 Application of fines, Section 49 Special provisions for private banking companies, Section 49A Restriction on acceptance of deposits withdrawable by cheque.
- Server down, can cause which type of risk in a bank?
A) Market
B) Business
C) Operation
D) Credit
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Option C
Explanation: Server down, can cause operational risk in the banks.
- What does R in UTR stands for?
A) Reform
B) Result
C) Resolve
D) Reference
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Option D
Explanation: UTR stands for Unique Transaction Reference Number.
- What is the name of Central Bank of Singapore?
A) Central Bank
B) Federal Bank
C) Reserve Bank of Singapore
D) Monetary Authority of Singapore
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Option D
Explanation: Tharman Shanmugaratnam: Governor, The Monetary Authority of Singapore is the central Bank and financial regulatory authority of the republic of Singapore.
- The GST Council has set up a Group of Ministers, Chaired by whom, to suggest required changes in the law for setting up the GST Appellate Tribunal (GSTAT)?
A) Sunil Bajpai
B) Dushyant Chautala
C) BP Kanungo
D) G Mahalingam
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Option B
Explanation: The GST Council has set up a Group of Ministers, Chaired by Dushyant Chautala to suggest required changes in the law for setting up the GST Appellate Tribunal (GSTAT).
- What is the authorized capital of NSDL Payment Bank?
A) 200 lakh
B) 2000 lakh
C) 20000 lakh
D) 50 lakh
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Option C
Explanation: NSDL payments Bank Limited is an Indian Non-Government Company. It’s a public company and is classified as ‘Company limited by shares’. Company’s authoried capital stands at Rs. 20000 lakh and has 0.025% paid up capital which is Rs. 5.0 lakhs.
- With reference to ‘Urban Cooperative Banks’ in India, consider the following statements:
1. They are supervised and regulated by local boards set up by the state Governments.
2. They were issue equity shares and preference shares.
3. They were brought under the purview of the Banking Regulation Act, 1949 through an amendment in 1966.
Which of the statements given above is/are correct?
A) 1 only
B) 2 only
C) 1 and 3
D) 2 and 3
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Option D
Explanation: Statement 2 and 3 are correct whereas statement 1 is incorrect.
