Banking Quiz.

Banking & Financial Awareness Quiz – Set 175

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.

  1. BCSBI has in collaboration with the Indian Banks’ Association (IBA), evolved how many codes?
    A) 1

    B) 2
    C) 3
    D) 4
    View answer
      Option B
    Explanation: Code of Bank’s Commitment to Customers and Code of Bank’s commitment to Micro and Small Enterprises
  2. The _________ is an independent banking industry watchdog that protects consumers of banking services in India.
    A) RBI

    B) IBA
    C) BCSBI
    D) IIBF
    View answer
      Option
    Explanation: BCSBI is not a forum for redressal of individual grievances. BCSBI, however, examines each complaint to identify any systemic issue that may exist and takes up the matter with the respective bank to ensure that systems and procedures are suitably amended so that such complaints do not recur
  3. With a view to promote Priority Sector Lending, RBI has allowed banks to co-originate loans with _________.
    A) SEBI

    B) SIDBI
    C) NBFCs
    D) MSME
    View answer
    Option C
    Explanation: With a view to promote PSL, RBI has allowed banks to co-originate loans with NBFCs thereby by synergising the wherewithal of the NBFCs in dealing with the last-mile customers and the credit purveying capacity of the banks.
  4. Rural Infrastructure and Development Fund (RIDF) is maintained with ____?
    A) NABARD

    B) RBI
    C) SEBI
    D) SIDBI
    View answer
    Option A
    Explanation: Though banks have been endeavouring to accomplish the PSL targets of RBI, at times, they fail to do so. In such a situation, they have been provided with a recourse to deposit such shortfall into RIDF maintained by NABARD, as and when called to do so.
  5. _________ is the belief that economies and businesses function best when there is no interference by the government.
    A) Neoliberalism

    B) Autocratic
    C) Socialism
    D) Laissez faire
    View answer
    Option D
    Explanation: Laissez faire
  6. Surplus funds of the Central Government over and above the prescribed minimum balance are invested in __________ by RBI.
    A) Shares

    B) IPO
    C) Mutual Funds
    D) Government of India dated Securities
    View answer
    Option D
    Explanation: Surplus funds of the Central Government over and above the prescribed minimum balance are invested in Government of India dated Securities.
  7. All banks/ financial institutions should maintain a minimum balance of _______ in their account with RBI.
    A) Rs 1 lakh

    B) Rs 5 lakh
    C) Rs 10 lakh
    D) Rs 100 lakh
    View answer
    Option A
    Explanation: Rs 1 lakh
  8. GRID is related to which of the following payment system?
    A) NEFT

    B) RTGS
    C) UPI
    D) CTS
    View answer
    Option D
    Explanation: CTS
  9. There are how many GRIDs in India for Cheque clearing?
    A) 2

    B) 3
    C) 4
    D) 5
    View answer
    Option B
    Explanation: West (Mumbai), South (Chennai), North (New Delhi)
  10. If an unauthorised electronic payment transactions through a PPI is reported by the customer before ___ days then the Liability of Customer is 0.
    A) 3

    B) 4
    C) 5
    D) 7
    View answer
    Option A
    Explanation: Three

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