Banking Awareness Quiz – Set 81 – 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.
Banking Awareness Questions
- As per RBI Act 1934, the RBI is mandated to conduct how many Monetary Policy Committee meeting in a year?
A) 4
B) 5
C) 6
D) 8
View answer
Option A
Explanation: As per Section 45ZI (1) and (2) of the Reserve Bank of India Act, 1934, the Reserve Bank shall organize at least four meetings of the Monetary Policy Committee in a year
- How many times the Monetary Policy Committee (MPC) Meeting take place in 2019-20?
A) 4
B) 5
C) 6
D) 8
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Option D
Explanation: As per Section 45ZI (1) and (2) of the Reserve Bank of India Act, 1934, the Reserve Bank shall organize at least four meetings of the Monetary Policy Committee in a year and the meeting schedule of the Monetary Policy Committee for a year shall be published at least one week before the first meeting in that year. Accordingly, it has been decided that the Monetary Policy Committee (MPC) will meet six times during 2019-20
- Government security (G-Sec) may be issued in which form?
A) Government Promissory Note (GPN)
B) Bond Ledger Account (BLA)
C) Stock
D) All of these
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Option D
Explanation: Government security (G-Sec) means a security created and issued by the Government for the purpose of raising a public loan or any other purpose as notified by the Government in the Official Gazette and having one of the following forms. i. a Government Promissory Note (GPN) payable to or to the order of a certain person; or; ii. a bearer bond payable to a bearer; or; iii. a stock; or; iv. a bond held in a Bond Ledger Account (BLA).
- There are how many NBFC Ombudsman as on date?
A) 16
B) 04
C) 06
D) 18
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Option B
Explanation: As on date, four NBFC Ombudsman have been appointed with their offices located at Chennai, Kolkata, New Delhi and Mumbai.
- Which of the following is the common unit of account of the Asian Clearing Union (ACU)?
A) ATA
B) ARU
C) ATU
D) AMU
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Option D
Explanation: The Asian Monetary Units (AMUs) is the common unit of account of ACU and is denominated as ‘ACU Dollar’ and ‘ACU Euro’, which is equivalent in value to one US Dollar and one Euro respectively.
- ___________ is any person specifically authorized by the Reserve Bank under Section 10(1) of FEMA, 1999, to deal in foreign exchange or foreign securities.
A) Authorised Dealer
B) Primary Representative
C) Foreign Dealer
D) Security Dealer
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Option A
Explanation: An Authorised Dealer (AD) is any person specifically authorized by the Reserve Bank under Section 10(1) of FEMA, 1999, to deal in foreign exchange or foreign securities
- What amount of foreign exchange can an Indian retain with him after he/she returns from a foreign trip?
A) USD 1,000
B) USD 2,000
C) USD 3,000
D) USD 4,000
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Option B
Explanation: On return from a foreign trip, travellers are required to surrender unspent foreign exchange held in the form of currency notes and travellers cheques within 180 days of return. However, they are free to retain foreign exchange up to USD 2,000, in the form of foreign currency notes or TCs for future use or credit to their Resident Foreign Currency (Domestic) [RFC (Domestic)] Accounts.
- On return from a foreign trip, Indians are required to surrender unspent foreign exchange held in the form of currency notes and travellers cheques within ____ of return.
A) 90 days
B) 60 days
C) 180 days
D) 365 days
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Option C
Explanation: On return from a foreign trip, travellers are required to surrender unspent foreign exchange held in the form of currency notes and travellers cheques within 180 days of return. However, they are free to retain foreign exchange up to USD 2,000, in the form of foreign currency notes or TCs for future use or credit to their Resident Foreign Currency (Domestic) [RFC (Domestic)] Accounts.
- Which of the following system has been developed to create Electronic Bill Factoring Exchanges which could electronically accept and settle bills so that MSMEs could encash their receivables without delay?
A) TReDS
B) CCC
C) ReIT
D) BCSBI
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Option A
Explanation: Trade Receivables Discounting System (TReDS) – The objective of TReDS is to create Electronic Bill Factoring Exchanges which could electronically accept and settle bills so that MSMEs could encash their receivables without delay. This will not only give them greater access to finance but will also put greater discipline on corporates to pay their dues on time.
- Where is the headquarters of Banking Codes and Standards Board of India (BCSBI) located?
A) Delhi
B) Mumbai
C) Pune
D) Hyerabad
View answer
Option B
Explanation: Mumbai
