Quiz on Banking Awareness

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Number of Questions: 10

1. The Federal Reserve System is the central banking system of which country?
   A) Germany
   B) United Kingdom
   C) Russia
   D) United States of America
   
   View answer

   Option D
   
2. Currently, which is the largest International Financial Institution of the World?
   A) European Investment Bank
   B) Asian Development Bank 
   C) Asian Infrastructure Investment Bank 
   D) World Bank
   
   View answer

   Option A
   
3. LAF is a monetary policy which allows banks borrow money through repurchase agreements. LAF stands for?
   A) Limited Asset Fund
   B) Local Authorized Facility
   C) Liquidity Adjustment Facility
   D) Large Adequacy Fund
   
   View answer

   Option C
   
4. What is OMO in relation to the purchase and sale of the Government Securities?
   A) Open Management Operations
   B) Open Market Operations
   C) Open Mode Operations
   D) Open Money Operations
   
   View answer

   Option B
   
5. Which among the given bodies functions as the custodian of India’s foreign exchange reserves?
   A) RBI
   B) EXIM
   C) SIDBI
   D) SEBI
   
   View answer

   Option A
   
6. Name the DEVICE developed by NPCI for enabling moving vehicle to pay the toll tax without using the cash?
   A) Rupay Contactless
   B) CTS
   C) NACH Debit
   D) FASTag
   
   View answer

   Option D
   
7. The Ways and Means Advances (WMA) is defined under which section of RBI Act?
   A) Section 17 (5)
   B) Section 16 (1)
   C) Section 17 (9)
   D) Section 19 (7)
   
   View answer

   Option A
   
8. Currently, the Reserve Bank acts as banker to all the State Governments in India except which state?
   A) Tripura
   B) Sikkim
   C) Nagaland
   D) Arunachal Pradesh
   
   View answer

   Option B
   Explanation: For Sikkim, it has limited agreement for management of its public debt.
9. Which denomination of Indian currency note features Sanchi Stupa as Motif?
   A) Rs 2000
   B) Rs 50
   C) Rs 200
   D) Rs 500
   
   View answer

   Option C
   Explanation: The new Rs 200 denomination note has Motif of Sanchi Stupa on the reverse, depicting the country’s cultural heritage. The base colour of the note is Bright Yellow.
10. What is the minimum limit that can be invested under the Kisan Vikas Patra?
    A) Rs 5000
    B) Rs 250
    C) Rs 500
    D) Rs 1000
    
    View answer

    Option D
    Explanation: The minimum amount that can be invested is Rs 1000. However, there is no upper limit on the purchase of KVPs. These certificates are available in the denominations of Rs 1000, Rs 5000, Rs 10000 and Rs 50000.

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