Banking & Financial Awareness Quiz – Set 173

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.

1. Tokenisation refers to ____________of actual card details with an unique alternate code called the “token”, which shall be unique for a combination of card, token requestor and device.
   A) Identification
   B) correction
   C) replacement
   D) inclusion
   
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     Option C
   Explanation: In tokenization, the actual card details are replaced with token, that are unique codes.
2. In case of tokenization and de-tokenization, Token requestors shall not store PAN or any other card detail. Expand PAN.
   A) Primary Account Number
   B) Permanent Account Number
   C) Provided Account Number
   D) Private Account Number
   
   View answer

     Option A
   Explanation: Primary Account Number
3. One-time restructuring of existing loans to MSMEs classified as ‘standard’ for loans upto?
   A) Rs 25 crore
   B) Rs 250 crore
   C) Rs 50 crore
   D) Rs 500 crore
   
   View answer

   Option A
   Explanation: Rs 25 crore
4. Recently the Kisan Credit Card (KCC) Scheme has been extended to the Animal Husbandry and Fisheries for their ______________ requirement.
   A) marketing loan
   B) Consumption requirements
   C) working capital
   D) Investment credit
   
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   Option C
   Explanation: RBI has extend KCC facility to Animal Husbandry farmers and Fisheries for their working capital requirements.
5. What is the limit for collateral free agricultural loans?
   A) Rs 50,000
   B) Rs 1 lakh
   C) Rs 1.5 lakhs
   D) Rs 1.6 lakhs
   
   View answer

   Option D
   Explanation: Rs 1.6 lakhs
6. Payment System (NEFT, RTGS, etc) in India is governed by which Act?
   A) RBI Act 1934
   B) Payment and Settlement Systems Act, 2007
   C) NPCI Act 2010
   D) Payment and Settlement Systems Act, 2018
   
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   Option B
   Explanation: Payment and Settlement Systems Act, 2007
7. What is the additional interest subvention available for prompt repayments of loan under Kisan Credit Card?
   A) 2%
   B) 3%
   C) 4%
   D) 5%
   
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   Option B
   Explanation: 3%
8. Which of the following is the nodal agency for “Interest Subvention Scheme for Incremental credit to MSMEs 2018”?
   A) RBI
   B) NPCI
   C) SEBI
   D) SIDBI
   
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   Option D
   Explanation: Small Industries Development Bank of India (SIDBI) is the single national level nodal implementation agency for the scheme.
9. What does U stands for in UAN stands for with respect to MSME?
   A) Unique
   B) Udyog
   C) Udaan
   D) Up
   
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   Option B
   Explanation: Udyog Aadhar Number
10. As per revised guidelines, WLA operators have to buy minimum of ________ pieces of any denomination from RBI or any other currency chest.
    A) 50,000
    B) 1 lakh
    C) 2 lakh
    D) 3 lakh
    
    View answer

    Option B
    Explanation: buy wholesale cash, above a threshold of 1 lakh pieces (and in multiples thereof) of any denomination, directly from the Reserve Bank (Issue Offices) and Currency Chests against full payment.

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