Banking Awareness Quiz – Set 72 – 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.  The set will be beneficial for the Banking and financial awareness section of LIC AAO. So attempt all the sets now.

1. As per the amended definition of the Start-ups, the annual turnover of start-ups cannot be more than __________
   A) Rs 25 crore
   B) Rs 50 crore
   C) Rs 75 crore
   D) Rs 100 crore
   
   View answer

   Option D
   Explanation:An entity will continue to be recognised as a Start-ups, if its turnover for any of the financial years since incorporation and registration has not exceeded Rs. 100 crore.
2. Name the sponsor bank of the newly formed Dakshin Bihar Gramin bank, by merging Uttar Bihar Gramin Bank with Madhya Bihar Gramin Bank
   A) Syndicate Bank
   B) Punjab National Bank
   C) UCO Bank
   D) Bank of Baroda
   
   View answer

   Option B
   
3. The Reserve Bank of India consists of how many Local Boards?
   A) 4
   B) 3
   C) 2
   D) 1
   
   View answer

   Option A
   Explanation: One each for the four regions of the country in Mumbai, Calcutta, Chennai and New Delhi
4. For savings bank deposits, banks can provide differential rates of interest above which amount?
   A) Rs.50 lakh
   B) Rs. 10 lakh
   C) Rs. 5 lakh
   D) Rs.1 lakh
   
   View answer

   Option D
   Explanation:Second, for savings bank deposits over Rs.1 lakh, a bank may provide differential rates of interest, if it so chooses, subject to the condition that banks will not discriminate in the matter of interest paid on such deposits, between one deposit and another of similar amount, accepted on the same date, at any of its offices.
5. The GST Council has hiked the GST exemption limit for MSMEs from north-eastern and hilly states to ____________ with effect from April 1, 2019
   A) Rs 40 lakh
   B) Rs 30 lakh
   C) Rs 50 lakh
   D) Rs 20 lakh
   
   View answer

   Option D
   
6. The core sector of the Indian economy is classified into how many types of industries?
   A) 7
   B) 8
   C) 9
   D) 10
   
   View answer

   Option B
   Explanation:These are Electricity , steel, refinery products, crude oil, coal, cement, natural gas and fertilisers.
7. The Reserve Bank of India (RBI) had also served as the Central bank of which countries earlier?
   A) Pakistan and Myanmar
   B) Sri Lanka and Nepal
   C) Nepal and Bhutan
   D) Pakistan and Nepal
   
   View answer

   Option A
   Explanation:The RBI also acted as Burma’s (now Myanmar) central bank until April 1947 as well as served as the central bank for Pakistan until June 1948
8. What is the maximum amount per transaction for cash based NEFT in India?
   A) Rs. 50,000
   B) Rs. 10,000
   C) Rs. 1,00,000
   D) Rs. 1,50,000
   
   View answer

   Option A
   Explanation:maximum amount per transaction is limited to ₹ 50,000/- for cash-based remittances within India and also for remittances to Nepal under the Indo-Nepal Remittance Facility Scheme.
9. RBI has recently signed USD 75 Billion BSA Agreement with Bank of Japan. Expand BSA.
   A) Business System Analysis
   B) Balance Sheet Assessment
   C) Banking Supervision Alignment
   D) Bilateral Swap Arrangement
   
   View answer

   Option D
   
10. What is the new deadline set by the RBI for completion of KYC  process by Prepaid Payment Instruments (PPIs) providers?
    A) 31 December 2019
    B) 31 March 2019
    C) 31 August 2019
    D) 31 May 2019
    
    View answer

    Option C
    Explanation:Reserve Bank of India extends deadline for completion of KYC for PPIs by 6 months to 31 August, 2019.

Read More Banking Awareness Topics

Attempt Banking Awareness Quiz