Banking Awareness Quiz – Set 84 – 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

1. What does Ind AS stands for, which was in news recently?
   A) Investment Associated Statements
   B) Indian Assets Statistics
   C) Insurance Application Service
   D) Indian Accounting Standards
   
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   Option D
   
2. The blockchain based global payment network ‘World Wire’ has been developed by which company?
   A) IBM
   B) Microsoft
   C) Accenture
   D) Wipro
   
   View answer

   Option A
   
3. Mobile company Xiaomi has launched its Unified Payments Interface (UPI) based payments application “Mi Pay” in collaboration with which bank?
   A) Axis Bank
   B) HDFC Bank
   C) ICICI Bank
   D) Yes Bank
   
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   Option C
   
4. The payment of interest on savings bank accounts by scheduled commercial banks is calculated on a daily product basis with effect from________
   A) June 30, 2000
   B) March 30, 2012
   C) July 1, 2014
   D) April 1, 2010
   
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   Option D
   
5. What is the Minimum Average Maturity Period (MAMP)for ECB up to USD 50 million per financial year raised by manufacturing sector?
   A) 3 years
   B) 4 years
   C) 5 years
   D) 1 years
   
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   Option D
   Explanation: MAMP will be 3 years for all ECBs. However, for ECB raised from foreign equity holder and utilised for specific purposes, as detailed in the Annex, the MAMP would be 5 years. Similarly, for ECB up to USD 50 million per financial year raised by manufacturing sector, which has been given a special dispensation, the MAMP would be 1 year
6. Any entity registered under______________ is eligible to issue Rupee denominated bonds overseas
   A) Banking Regulation Act 1949
   B) Reserve Bank of India Act 1934
   C) Companies Act, 1956/ 2013
   D) Foreign Exchange Management Act, 1999
   
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   Option C
   
7. The Foreign nationals of non-Indian origin resident outside India can acquire immovable property in India on lease not exceeding _______ years
   A) 8 years
   B) 10 years
   C) 4 years
   D) 5 years
   
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   Option D
   Explanation:  Citizens of Pakistan, Bangladesh, Sri Lanka, Afghanistan, China, Iran, Nepal, Bhutan, Macau, Hong Kong or Democratic People’s Republic of Korea (DPRK), irrespective of their residential status, cannot, without prior permission of the Reserve Bank, acquire or transfer immovable property in India, other than on lease, not exceeding five years. This prohibition shall not be applicable to an OCI. Foreign nationals of non-Indian origin resident in India (except 11 countries listed at (a) above) can acquire immovable property in India. Foreign nationals of non-Indian origin resident outside India can acquire/ transfer immovable property in India, on lease not exceeding five years and can acquire immovable property in India by way of inheritance from a resident.
8. When the FDI is allowed without prior approval by Government or Reserve Bank of India, it is known as____________
   A) Automatic Route
   B) Involuntary Route
   C) Reflex Route
   D) Approval Route
   
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   Option A
   
9. The maximum value of each prepaid gift instrument shall not exceed ___________.
   A) Rs 5,000
   B) Rs 50,000
   C) Rs 10,000
   D) Rs 25,000
   
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   Option C
   
10. FCA is a transactional account denominated in a currency other than the home currency and can be maintained by a bank in the home country or a bank in another country. Expand FCA.
    A) Foreign Credit Account
    B) Foreign Currency Account
    C) Foreign Cash Account
    D) Foreign Current Account
    
    View answer

    Option B
    

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