Banking & Financial Awareness Quiz – Set 164

Banking & Financial 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 & Financial Awareness Questions

1. Which of the following is a portal/platform for submitting Digital Life Certificate for pension?
   A) Jeevan Prakaash
   B) Jeevan Aayu
   C) Jeevan Pramaan
   D) Jeevan Sathi
   
   View answer

     Option C
   Explanation: Jeevan Pramaan
2. ________ is the month for all pensioners to provide life certificates to their bank so that they would continue to receive their pension.
   A) January
   B) February
   C) December
   D) November
   
   View answer

     Option D
   Explanation: November
3. Find the incorrect statement:
   A) Banks check your credit score and credit history while giving loan
   B) Delay in loan repayment affects your credit score
   C) Higher the credit score the more creditworthy borrower you are
   D) Repay the loan later for a high credit score
   
   View answer

   Option D
   Explanation: The sooner you repay the loan the better will be your credit score.
4. What is the end timing for NEFT in India?
   A) 4:30 PM
   B) 6:00 PM
   C) 7:00 PM
   D) 8:00 PM
   
   View answer

   Option C
   Explanation: From July 10, 2017 settlements of fund transfer requests in NEFT system is done on half-hourly basis. There are twenty three half-hourly settlement batches run from 8 am to 7 pm on all working days of week (Except 2nd and 4th Saturday of the month).
5. Which of the following payment method can be used on Sundays?
   A) RTGS
   B) NEFT
   C) IMPS
   D) Cheque Clearing
   
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   Option C
   Explanation: IMPS is available on Sundays and holidays
6. Virtual Private Address (VPA) is a feature in ___?
   A) IMPS
   B) UPI
   C) NEFT
   D) RTGS
   
   View answer

   Option B
   Explanation: In UPI
7. Under Kisan Credit Card (KCC), ____ of the short term loan can be used for household consumption purpose.
   A) 5%
   B) 8%
   C) 10%
   D) 15%
   
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   Option C
   Explanation: 10% of limit towards post-harvest/household/ consumption requirements
8. The Kisan Credit Card (KCC) will be in the nature of a _____ account.
   A) revolving
   B) savings
   C) current
   D) general
   
   View answer

   Option A
   Explanation: A revolving account is an account created by a lender to represent debts where the outstanding balance does not have to be paid in full every month by the borrower to the lender. The borrower may be required to make a minimum payment, based on the balance amount.
9. Credit balance in the Kisan Credit Card (KCC) account, if any, will fetch interest at the ______ rate.
   A) recurring deposit
   B) savings bank
   C) 10 year FD
   D) repo
   
   View answer

   Option B
   Explanation: Credit balance in the account, if any, will fetch interest at the savings bank rate.
10. Indian company receive foreign investment via ____.
    A) Automatic Route and Trade Route
    B) Automatic Route and Government Route
    C) Trade Route and Restricted Route
    D) Trade Route and Government Route
    
    View answer

    Option B
    Explanation: Automatic Route and Government Route

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