Banking Awareness Quiz – Set 68 – 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. Unique Transaction Reference (UTR) number is a ____ character code used to uniquely identify a transaction in RTGS system.
   A) 16
   B) 20
   C) 22
   D) 24
   
   View answer

   Option C
   Explanation: Unique Transaction Reference (UTR) number is a 22 character code used to uniquely identify a transaction in RTGS system.
2. The Bank of Rajasthan (BoR) merged with which bank?
   A) Axis Bank
   B) HDFC Bank
   C) ICICI Bank
   D) Yes Bank
   
   View answer

   Option C
   Explanation: Bank of Rajasthan Ltd. merged with ICICI Bank Ltd. with effect from August 13, 2010. 
3. What should be the minimum net worth of any non-bank entity intending to set up WLA?
   A) Rs 150 crore
   B) Rs 100 crore
   C) Rs 200 crore
   D) Rs 50 crore
   
   View answer

   Option B
   
4. Which of the following is not a 24×7 payment system?
   A) IMPS
   B) UPI
   C) RTGS
   D) All are 24×7 payment system
   
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   Option C
   Explanation: RTGS is not a 24×7 system. The RTGS service window for customer transactions is available to banks from 8 am to 4.30 pm on a working day
5. India’s first carbon-efficient index called Greenex has been launched by which stock exchange?
   A) Delhi Stock Exchange
   B) National stock Exchange
   C) Bombay Stock Exchange
   D) Ahmedabad Stock Exchange
   
   View answer

   Option C
   
6. Core Investment Companies (CICs) are a type of?
   A) NBFC
   B) FFMC
   C) Bank
   D) All of these
   
   View answer

   Option A
   Explanation: RBI has carved out some specialized NBFCs like Core Investment Companies (CICs), NBFC- Infrastructure Finance Companies (IFCs), Infrastructure Debt Fund- NBFCs, NBFC-MFIs and NBFC-Factors
7. CAS is an account statement which shows the details of financial transactions made by an investor during a month across all Mutual Funds and also other securities held in dematerialised (Demat) mode. What is CAS?
   A) Consolidated Account Statement
   B) Combined Account Statement
   C) Corporate Account Statement
   D) Conditional Account Statement
   
   View answer

   Option A
   
8. What is the maximum limit that individuals are allowed to remit in a year under the Liberalised Remittance Scheme?
   A) USD 25,000
   B) USD 3,00,000
   C) USD 5,00,000
   D) USD 2,50,000
   
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   Option D
   Explanation: Under the Liberalised Remittance Scheme, all resident individuals, including minors, are allowed to freely remit up to USD 2,50,000 per financial year (April – March) for any permissible current or capital account transaction or a combination of both. The Scheme was introduced on February 4, 2004, with a limit of USD 25,000. The LRS limit has been revised in stages consistent with prevailing macro and micro economic conditions.
9. The Foreign Trade Policy in India is administered by ______________
   A) RBI
   B) Ministry of Commerce & Industry
   C) Ministry of Finance
   D) EXIM Bank
   
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   Option B
   Explanation:The Government of India, Ministry of Commerce and Industry announced New Foreign Trade Policy on 01st April 2015 for the period 2015-2020
10. Banks cannot accept interest free deposits other than in _________ ?
    A) Current account
    B) Savings Account
    C) Fixed Deposit Account
    D) Either of the above
    
    View answer

      Option A
    Explanation: Banks cannot accept interest free deposits other than in current account.

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