Quiz on Banking Awareness

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Number of Questions: 10

1. The Banking Codes and Standards Board of India (BCSBI) was formed on the recommendation of which committee?
   A) M. Narasimham 
   B) Sir Osborne A. Smith
   C) S.S.Tarapore
   D) C.Rangarajan
   
   View answer

   Option C
   
2. What does the letter D denotes in TReDS?
   A) Debt
   B) Deposit
   C) Debit
   D) Discounting
   
   View answer

   Option D
   Explanation: Trade Receivables Discounting System (TReDS)
3. Which among the following Capital instruments are permitted for receiving foreign investment in an Indian company?
   A) Equity shares
   B) Debentures
   C) Preference shares
   D) All the above
   
   View answer

   Option D
   Explanation: ‘Capital Instruments’ means equity shares, debentures, preference shares and share warrants issued by the Indian company.
4. What does S stands for in SNRR account?
   A) Special
   B) Security
   C) Service
   D) Savings
   
   View answer

   Option A
   Explanation: Special Non-Resident Rupee Account (SNRR account)
5. Who issues the Sovereign Gold Bonds (SGBs)?
   A) Government of India
   B) Public Sector Banks
   C) RBI
   D) SEBI
   
   View answer

   Option C
   Explanation: SGBs are government securities denominated in grams of gold. The Bond is issued by Reserve Bank on behalf of Government of India.
6. The Non Banking Financial Company (NBFC) is a company registered under which Act?
   A) RBI Act, 1934
   B) Payment and Settlement Systems Act, 1962
   C) Banking Regulation Act, 1949
   D) Companies Act, 1956
   
   View answer

   Option D
   
7. Which among the following services / facilities is not available at WLAs?
   A) Cash Deposit
   B) Cash dispensing
   C) PIN change
   D) Request for Cheque Book
   
   View answer

   Option A
   Explanation: Cash Deposit; Regular Bills Payment and Purchase of Re-load Vouchers for Mobiles are not permitted at WLAs  
8. Which type of PPI is issued in India?
   A) Closed System PPIs
   B) Semi-closed System PPIs
   C) Open System PPIs
   D) All the above
   
   View answer

   Option D
   Explanation: PPIs that can be issued in the country are classified under three types viz. (i) Closed System PPIs, (ii) Semi-closed System PPIs, and (iii) Open System PPIs.
9. What is the minimum amount that can be remitted using RTGS transactions?
   A) Rs 1,00,000/-
   B) Rs 2,00,000/-
   C) Rs 1,50,000/-
   D) Rs 50,000/-
   
   View answer

   Option B
   
10. Which among the given instruments are issued in minimum denomination of Rs 5 lakhs and its multiples?
    A) Treasury bills 
    B) Cash Management Bills
    C) Commercial Paper
    D) Certificate of Deposit
    
    View answer

    Option C
    

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