Quiz on Banking Awareness

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Number of Questions: 10

1. What is the minimum validity period for all Prepaid Payment Instruments (PPIs) issued in India?
   A) 2 months
   B) 12 months
   C) 6 months
   D) 15 months
   
   View answer

   Option B
   Explanation: All PPIs shall have a minimum validity period of one year from the date of last loading / reloading in the PPI.
2. The Certified Credit Counsellors are institutions or individuals registered with which institution?
   A) SIDBI
   B) RBI
   C) SEBI
   D) NABARD
   
   View answer

   Option A
   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.
3. When the application for the Sovereign Gold Bond is made online and payment is made via digital mode then the issue price of the bond is how much amount less than the nominal value?
   A) Rs 100 per gram
   B) Rs 25 per gram
   C) Rs 50 per gram
   D) Rs 75 per gram
   
   View answer

   Option C
   Explanation:The issue price of the Gold Bonds will be ₹ 50 per gram less than the nominal value to those investors applying online and the payment against the application is made through digital mode.
4. For transacting at an ATM / WLA, the customer should have a valid card along with  ______ number
   A) IFSC
   B) PIN
   C) PAN
   D) UPI
   
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   Option B
5.  What does RTGS stand for?
   A) Real Time Gross System
   B) Real Time Gross Session
   C) Real Time Gross Service
   D) Real Time Gross Settlement
   
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   Option D
6. Which of the following statements is not correct regarding Cheque?
   A) It cannot be made payable to bearer
   B) It can be made payable on demand only
   C) No grace period is allowed before payment
   D) It can be crossed
   
   View answer

   Option A
   Explanation: It can be made payable to bearer or order 
7. The eligible borrowers of the MUDRA Banks are divided into how many categories to get the loan?
   A) 2
   B) 3
   C) 1
   D) 4
   
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   Option B
   Explanation: Shishu (शिशु): Allowed loans up to ₹50,000 (US$700); Kishore (किशोर): Allowed loans up to ₹5 lakh (US$7,000); Tarun (तरुण): Allowed loans up to ₹10 lakh (US$14,000)
8. The Red Revolution is related with the increase in the production of which item?
   A) Mushrooms
   B) Onion
   C) Meat
   D) Flowers
   
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   Option C
9. An account is considered as NPA when the interest/installment of the principal remain overdue for a period of more than ______ days
   A) 90 days
   B) 30 days
   C) 60 days
   D) 120 days
   
   View answer

   Option A
10. Which among the given requires every banking company in India to maintain Statutory Liquidity Ratio (SLR) with RBI?
    A) Section 27 (3A) Banking Regulation Act, 1949
    B) Section 35 (2) Banking Regulation Act, 1949
    C) Section 41 (1A) Banking Regulation Act, 1949
    D) Section 24 (2A) Banking Regulation Act, 1949
    
    View answer

    Option D

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