Banking Awareness Quiz – Set 57 – Miscellaneous

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.

1. The Ombudsman Scheme for Digital Transactions, 2019 has been introduced under which Act?
   A) Banking Regulations Act, 1949
   B) Payment and Settlement Systems Act, 2007
   C) Reserve Bank of India Act, 1934
   D) Banking Ombudsman Scheme 2006
   
   View answer

   Option B
   Explanation: Section 18 Payment and Settlement Systems Act, 2007, with effect from January 31, 2019.
2. Each of the Local Board of the Reserve Bank of India can have how many members?
   A) 8
   B) 11
   C) 4
   D) 5
   
   View answer

   Option D
   Explanation: Each local boards have five members each appointed by the Central Government for a period of 4 years.
3. The headquarter of the Barclays Bank is based in which country?
   A) United States
   B) Germany
   C) United Kingdom
   D) Singapore
   
   View answer

   Option C
   
4. What is the minimum start-up capital for a Local Area Bank (LAB)?
   A) Rs 5 crore
   B) Rs 2 crore
   C) Rs 10 crore
   D) Rs 8 crore
   
   View answer

   Option A
   
5. How many Nationalized Banks are there in India?
   A) 20
   B) 21
   C) 19
   D) 18
   
   View answer

   Option C
   
6. The head office of the Prathama Grameen Bank, the first RRB in India, is in which city?
   A) Nagpur
   B) Gwalior
   C) Patna
   D) Moradabad
   
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   Option D
   Explanation: Prathama Bank is the First Regional Rural Bank of India, sponsored by Syndicate Bank established on 2nd October, 1975, with its Head Office at Moradabad in accordance with Regional Rural Bank Ordinance 1975 issued on 26th September, 1975. (Replaced later by Regional Rural Bank Act, 1976(2) of 1976 of Government of India).
7. What is the authorized capital of the Deposit Insurance and Credit Guarantee Corporation (DICGC)?
   A) Rs 50 crore
   B) Rs 100 crore
   C) Rs 200 crore
   D) Rs 150 crore
   
   View answer

   Option A
   Explanation: It is fully issued and subscribed by the Reserve Bank of India (RBI)
8. What is the maximum deposit limit allowed under the Senior Citizen Savings Scheme (SCSS)?
   A) Rs 10 lakh
   B) Rs 15 lakh
   C) Rs 5 lakh
   D) Rs 20 lakh
   
   View answer

   Option B
   Explanation: There shall be only one deposit in the account in multiple of one thousand rupees not exceeding Rupees Fifteen lakhs. Deposits by depositors shall be restricted to the retirement benefits received by them or rupees fifteen lakh, whichever is lower.
9. How many currency note printing presses are there in India?
   A) 3
   B) 6
   C) 5
   D) 4
   
   View answer

   Option D
   Explanation: Four printing presses print and supply banknotes. These are at Dewas in Madhya Pradesh, Nasik in Maharashtra, Mysore in Karnataka, and Salboni in West Bengal.
10. What shall be the maximum compensation provided under the Banking Ombudsman Scheme 2006 for any loss due to service of the bank?
    A) Rs 25 lakh
    B) Rs 10 lakh
    C) Rs 20 lakh
    D) Rs 15 lakh
    
    View answer

    Option C
    

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