Banking Awareness Quiz – Set 50

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. The National Payments Corporation of India was set up under which Act?
   A) Payments and Settlement Act, 2007
   B) Banking Regulation Act, 1949
   C) Reserve Bank of India Act, 1934
   D) Companies Act 2013
   
   View answer

   Option D
   Explanation: NPCI is a not-for-profit organisation registered under section 8 of the Companies Act 2013, and founded in 2008
2. What is the full form of MSF in key policy rates of RBI?
   A) Marginal Standing Facility 
   B) Medium Securities Fund
   C) Monetary Scheme Facility
   D) Minimum Stock Fund
   
   View answer

   Option A
   Explanation: Currently, Marginal Standing Facility (MSF) rate stands at 6.50 per cent
3. Under the new framework of the External Commercial Borrowings (ECB) of RBI, all eligible borrowers can now raise ____________ or equivalent per financial year under the automatic route
   A) USD 700 million 
   B) USD 750 million 
   C) USD 500 million 
   D) USD 650 million 
   
   View answer

   Option B
   
4. Bharat 22 ETF is managed by which entity?
   A) LIC Mutual Fund
   B) Aditya Birla Sun Life Mutual Fund
   C) ICICI Prudential Mutual Fund
   D) UTI Asset Management Company 
   
   View answer

   Option C
   
5. Which bank has launched the Next-Gen mobile banking app?
   A) HDFC Bank
   B) Axis Bank
   C) ICICI Bank
   D) Yes Bank
   
   View answer

   Option A
   
6. According to RBI, “Bulk Deposit” means single Rupee term deposits of Rs ___________ and above.
   A) Rs 1.5 crore
   B) Rs 50 lakh
   C) Rs 1 crore
   D) Rs 2 crore
   
   View answer

   Option D
   
7. The Foreign Exchange Management Act (FEMA) to promote external trade and payments was passed in which year?
   A) 2000
   B) 1999
   C) 1989
   D) 1992
   
   View answer

   Option B
   Explanation: It was passed in the winter session of Parliament in 1999, replacing the Foreign Exchange Regulation Act (FERA).  
8. MTSS is a quick and easy way of transferring personal remittances from abroad to beneficiaries in India. What does M stands for in the given abbreviation?
   A) Manage
   B) Minimum
   C) Monetary
   D) Money
   
   View answer

   Option D
   Explanation: Money Transfer Service Scheme (MTSS)
9. Which of the following is not permitted to participate for transaction in call/notice money market?
   A) Regional Rural Banks
   B) Public Sector Banks
   C) Co-operative Banks
   D) Primary Dealers (PDs)
   
   View answer

   Option A
   Explanation: Scheduled commercial banks (excluding RRBs), co-operative banks (other than Land Development Banks) and Primary Dealers (PDs), are permitted to participate in call/notice money market both as borrowers and lenders.
10. In CLSS what does C denotes when linked to government schemes?
    A) Cash
    B) Central
    C) Credit
    D) Capital
    
    View answer

    Option C
    Explanation: Credit Linked Subsidy Scheme (CLSS) 

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