Banking Quiz.

Banking & Financial Awareness Quiz – Set 169

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 AAOSo attempt all the sets now.

Banking & Financial Awareness Questions

  1. Which of the following is not correct about *99#?
    A) It is a platform that allows transfer of money.

    B) It facilitates money transfer without Internet access
    C) Linking Mobile number with the Bank account is not must to use this platform
    D) Having ATM/Debit card is must to use this platform
    View answer
      Option C
    Explanation:
    Linking Mobile number with the Bank account is must to use this platform
  2. *99# is the code of USSD, in which ‘U’ stands for:
    A) Uninterrupted

    B) Universal
    C) Uniformed
    D) Unstructured
    View answer
      Option D
    Explanation: Unstructured Supplementary Service Data (USSD)
  3. Which of the following is not correct about UPI?
    A) Funds can be transferred only to a virtual address.

    B) Mobile linkage with the Bank account is must to use this platform
    C) BHIM, any bank’s app or a third party app may be used for UPI transactions
    D) Having ATM/Debit card is must to use this platform
    View answer
    Option A
    Explanation:
  4. In order to have hassle free ATM experience, which of the following is not advised:
    A) Always count and the check the notes dispensed.

    B) Ensure there is camera or other device attached to the ATMs
    C) Do not share ATM card details and PIN with anyone.
    D) Register your phone number with the bank to get alerts on ATM transactions.
    View answer
    Option B
  5. Which of the following statement is not true?
    A) RBI does not open savings account.

    B) RBI never ask your bank account/card details
    C) RBI does not do not any transaction with anyone
    D) RBI does not offer any credit/debit card
    View answer
    Option C
    Explanation: RBI transacts with govt. and banks.
  6. Which of the following entities cannot be Banking Correspondents:
    A) Civil Society Organisations

    B) Payment Banks
    C) MFI
    D) NBFCs- Deposit taking
    View answer
    Option D
  7. In case of financial stress, customers can approach banks for resolving of the stress by either of the following options, except:
    A) Rectification

    B) Reincorporation
    C) Restructuring
    D) Recovery
    View answer
    Option B
    Explanation: The resolution plan may be of three kinds—rectification, restructuring and recovery.
  8. GCC, General Credit Card may be issued to ________ for ________ requirements:
    A) Non-Farm Entrepreneurs, loan & Working capital requirements

    B) Entrepreneurs, loan requirements
    C) Entrepreneurs, working Capital & loan requirements
    D) Non-Farm Entrepreneurs, loan requirements
    View answer
    Option A
    Explanation: Non-Farm Entrepreneurs, loan & Working capital requirements
  9. Which of the following is not required as part of KYC for Savings Bank account for SHGs?
    A) KYC of all office bearers

    B) KYC of all group members
    C) KYC of account operating members
    D) Resolution authorising office-bearers to open an account on behalf of the SHG
    View answer
    Option B
    Explanation: KYC of all group members is not required, only for office bearer will suffice.
  10. Udyami Mitra portal is an online loan application portal available for ________ .
    A) MFIs

    B) Entrepreneurs
    C) SHGs
    D) Farmers
    View answer
    Option B
    Explanation: Entrepreneurs

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