Banking Awareness Quiz – Set 47

Banking Awareness Quiz: We have created many quizzes on Banking Awareness and this set is one of them. These questions are most important for banking and insurance exams. The question asked in the Banking Awareness section are based both on static banking and that to current banking in news. These Banking Awareness sets will guide you in all banking exams like IBPS Clerk, IBPS PO, SBI Clerk, SBI PO, RRB Clerk and PO and other exams. So attempt all the sets now.

Number of Questions: 10

1. A market structure where there are a few buyers and many sellers is known as_____________
   A) Monopsony
   B) Oligopoly
   C) Oligopsony
   D) Monopoly
   
   View answer

   Option C
   
2. The Insurance Regulatory and Development Authority of India (IRDAI) was constituted under which Act?
   A) Insurance Regulatory and Development Authority Act, 1999
   B) Companies Act, 1956
   C) Reserve Bank of India Act, 1934
   D) Banking Regulation Act, 1949
   
   View answer

   Option A
   
3. Airtel Payments Bank is a joint venture between Bharti Airtel Ltd with which bank?
   A) State Bank of India
   B) Kotak Mahindra Bank
   C) Punjab National Bank
   D) Axis Bank
   
   View answer

   Option B
   Explanation: Airtel Payments Bank is a joint venture between Bharti Airtel Ltd. and Kotak Mahindra Bank Ltd.. Kotak Mahindra Bank holds 19.9% stake in the Airtel Payments Bank.
4. The Banking Ombudsman Scheme was introduced under which section of the Banking Regulation Act, 1949?
   A) Section 16 A 
   B) Section 42 A 
   C) Section 27 A 
   D) Section 35 A
   
   View answer

   Option D
   
5. What does FCA stands for with respect to foreign exchange reserve?
   A) Foreign Credit Assets
   B) Foreign Currency Agreement
   C) Foreign Currency Assets
   D) Foreign Credit Agreement
   
   View answer

   Option C
   Explanation:Foreign Currency Assets (FCA) is the most important component of the RBI’s foreign exchange reserve. These are the assets like US Treasury Bills bought by the RBI using foreign currencies
6.  BPay App, a Mobile banking and Wallet Application, belongs to which bank?
   A) Fino Payments Bank
   B) Airtel Payments Bank
   C) India Post Payments Bank
   D) Paytm Payments Bank
   
   View answer

   Option A
   
7. The headquarter of the European Investment Bank (EIB) is located in which country?
   A) Rome, Italy
   B) London, United Kingdom
   C) Frankfurt, Germany
   D) Kirchberg, Luxembourg
   
   View answer

   Option D
   
8. Which of the following banks was merged with the Union Bank of India in the year 1999?
   A) Belgaum Bank
   B) New Bank of India
   C) Sikkim Bank
   D) Bank of Madura
   
   View answer

   Option C
   
9. The BHIM App currently supports how many languages?
   A) 22
   B) 13
   C) 18
   D) 15
   
   View answer

   Option B
   
10. The branch of economics that studies the behavior of individuals/firms in making decisions regarding the allocation of scarce resources and the interactions among these individuals/ firms is known as _____________
    A) Microeconomics
    B) Labor economics
    C) Welfare economics
    D) Macroeconomics
    
    View answer

    Option A
    

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