Banking Awareness Quiz – Set 92 – 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 is the usage charge levied by NPCI for using UPI for transactions below Rs 1000?
   A) 10 paise
   B) 25 paise
   C) 50 paise
   D) 20 paise
   
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   Option A
   Explanation: The National Payments Corporation of India (NPCI) has reduced the Unified Payments Interface (UPI) usage fees for small transactions less than Rs 1,000 to 10 paise from 25 paise. For transactions above Rs 1,000, the charge has been retained at 50 paise. 
2. The Lead Bank scheme was introduced upon the recommendation of which committee?
   A) Vyas Committee
   B) Bhave Committee
   C) Usha Thorat Committee
   D) Gadgil Committee
   
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   Option D
   Explanation: In 1969, RBI introduced Lead Bank scheme on the basis of recommendations of D.R.Gadgil Committee .
3. As per the direction of RBI, the RRBs have to lend _______ percent of their outstanding advances to priority sector and sub-sector targets
   A) 55%
   B) 40%
   C) 75%
   D) 29%
   
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   Option C
   
4. RBI has removed the need for AFA for any transaction up to Rs 2000. Here AFA Denotes_______
   A) Added Factor for Authentication
   B) Additional Factor for Authentication
   C) Auxiliary Factor for Authentication
   D) Accessory Factor for Authentication
   
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   Option B
   
5. Expand CBLO.
   A) Collateralized Borrowing and Lending Obligation
   B) Common Borrowing and Lending Order
   C) Clearing Borrowing and Lending Operation
   D) Capital Borrowing and Lending Quality
   
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   Option A
   Explanation: The Collateralized Borrowing and Lending Obligation (CBLO) market is a money market segment operated by the Clearing Corporation of India Ltd (CCIL). In the CBLO market, financial entities can avail short term loans by providing prescribed securities as collateral.
6. Centrally planned economy where there is no existence of private sector is known as ___________
   A) Free Enterprise Economy
   B) Mixed Economy
   C) Capitalistic economy
   D) Socialistic economy
   
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   Option D
   
7. Which of the following correctly defines the Law of Demand?
   A) The Quantity demanded of a commodity is directly proportional to the price of the commodity
   B) The Quantity demanded of a commodity has no effect on the price of the commodity
   C) The Quantity demanded of a commodity is inversely proportional to the price of the commodity
   D) All are correct
   
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   Option C
   Explanation: If the price of a commodity decreases then its demand will rise
8. A market situation in which there are many firms which sell closely related but differentiated products is known as________
   A) Oligopoly
   B) Monopolistic Competition
   C) Monopoly
   D) Perfect Competition
   
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   Option B
   
9. What is the maximum tenure of the RBI Governor?
   A) 6 years
   B) 2 years
   C) 3 years
   D) 5 years
   
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   Option D
   Explanation: Maximum tenure is 5 years or 65 years of age, which ever is earlier
10. The Airtel Payments Bank was launched in which year?
    A) 2016
    B) 2017
    C) 2015
    D) 2014
    
    View answer

    Option A
    Explanation: Airtel Payments Bank was lanched in September 2016. Airtel’s first payments bank went live with its pilot project in Rajasthan in November 2016.

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