Banking Awareness Quiz – Set 67 – Miscellaneous

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1. Which of the following is not insured by DICGC?
   A) Urban cooperative banks
   B) Regional Rural Bank
   C) Primary cooperative societies
   D) Local Area Banks
   
   View answer

     Option C
   Explanation: Primary cooperative societies are not insured by the DICGC. All commercial banks including branches of foreign banks functioning in India, local area banks and regional rural banks are insured by the DICGC.
2. The Indo-Nepal Remittance Facility Scheme is a type of?
   A) RTGS
   B) NEFT
   C) IMPS
   D) SWIFT
   
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   Option B
   Explanation: The NEFT system also facilitates one-way cross-border transfer of funds from India to Nepal. This is known as the Indo-Nepal Remittance Facility Scheme.
3. What is the minimum periodicity allowed to banks for payment of interest in saving account?
   A) fortnightly
   B) monthly
   C) quarterly
   D) half-yearly
   
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   Option C
   Explanation: Banks can pay interest on savings bank accounts at quarterly or longer rests.
4. What is Giro transfer?
   A) Transfer of auctioned money to the account of the holder
   B) Transfer of money to the account held in one country from the overseas account
   C) Transfer of loan amount to the account of the beneficiary
   D) Transfer of money from one account to another by a bank or post office upon receipt of written instruction by the payer
   
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   Option D
   Explanation: Also known as credit transfer
5. What is the limit for collateral free loans for MSE sector?
   A) Rs 10 lakh
   B) Rs 1.6 lakh
   C) Rs 1 lakh
   D) Rs 16 lakh
   
   View answer

   Option A
   Explanation: For MSE Sector- Rs 10 Lakh; For agri sector- Rs 1.6 lakh
6. The cheque which the bank refuse to encash due to insufficient finances in the bank account of the originator or drawer of the cheque is known as _____________
   A) Illegal Cheque
   B) Bounced Cheque
   C) Underlimit Cheque
   D) Stale Cheque
   
   View answer

   Option B
   
7. The Rupee denominated bonds can only be issued in a country that is a member of:
   A) IMF
   B) OECD
   C) FATF
   D) World Bank
   
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   Option C
   Explanation: The Rupee denominated bonds can only be issued in a country and can only be subscribed by a resident of a country that is a member of Financial Action Task Force (FATF) or a member of a FATF-Style Regional bod
8. The Government of India allowed foreign investment in LLP firms to attract more foreign exchange. What is the full form of LLP in this context?
   A) Limited Loan Partnership
   B) Limited Liability Partnership
   C) Legal Liability Partnership
   D) Longer Loan Partnership
   
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   Option B
   
9. ____________ is a channel to receive cross-border remittances from overseas jurisdictions
   A) Liberalised Remittance Scheme (LRS)
   B) Special Drawing Rights (SDR)
   C) Real Time Gross Settlement (RTGS)
   D) Rupee Drawing Arrangement (RDA)
   
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   Option D
   
10. Which among the following is an example of Invisible export?
    A) Export of services
    B) Export of goods through smuggling
    C) Export of Prohibited goods
    D) Export of unrecorded goods
    
    View answer

    Option A
    Explanation: Any export that does not have a tangible physical presence

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