Current Banking Awareness Quiz – Set 50

1. As per the latest RBI guidelines what amount of fine will be charged by RBI from the banks if the ATMs remain out of cash for more than 10 hours in a month?
   A) Rs 5000
   B) Rs 1000
   C) Rs 10000
   D) Rs 15000
   
   View answer

   Option C
   Explanation: Cash-out at any ATM of more than ten hours in a month will attract a flat penalty of Rs. 10,000/- per ATM. In case of White Label ATMs (WLAs), the penalty would be charged to the bank which is meeting the cash requirement of that particular WLA.
2. What is the maximum amount of collateral free loans than banks can offer to Self Help Groups (SHGs) under DAY-NRLM?
   A) Rs 5 lakh
   B) Rs 10 lakh
   C) Rs 15 lakh
   D) Rs 20 lakh
   
   View answer

   Option D
   Explanation: Increased from Rs 10 lakh to Rs 20 lakh
3. What is the current Marginal Standing Facility Rate (MSF Rate)?
   A) 4.25%
   B) 4.00%
   C) 3.35%
   D) 3.75%
   
   View answer

   Option A
   Explanation: MSF= 4.25%
4. RBI has advised commercial banks to send Employees Posted in Sensitive Positions or Areas of Operation on Mandatory Leave for minimum how many days in a year?
   A) 5
   B) 10
   C) 15
   D) 20
   
   View answer

   Option B
   Explanation: As a prudent operational risk management measure, the banks shall put in place a ‘mandatory leave’ policy wherein the employees posted in sensitive positions or areas of operation shall be compulsorily sent on leave for a few days (not less than 10 working days) in a single spell every year, without giving any prior intimation to these employees, thereby maintaining an element of surprise.
5. The maximum amount outstanding in respect of full-KYC PPIs (KYC-compliant PPIs) has been increased from _________ to ________.
   A) Rs. 1 lakh; Rs. 5 lakh
   B) Rs. 2 lakh; Rs. 3 lakh
   C) Rs. 1 lakh; Rs. 2 lakh
   D) Rs. 2 lakh; Rs. 5 lakh
   
   View answer

   Option C
   Explanation: The maximum amount outstanding in respect of full-KYC PPIs (KYC-compliant PPIs) has been increased from Rs. 1 lakh to Rs. 2 lakh
6. What is the limit of maximum balance per customer at end of the day in accounts maintained at Payments Banks (PBs)?
   A) Rs 1 lakh
   B) Rs 2 lakh
   C) Rs 3 lakh
   D) Rs 5 lakh
   
   View answer

   Option B
   Explanation: Increased from Rs 1 lakh to Rs 2 lakh
7. What is the Financial Inclusion Index for March 2021?
   A) 53.9
   B) 53.8
   C) 54.9
   D) 54.8
   
   View answer

   Option A
   Explanation: The annual FI-Index for the period ending March 2021 is 53.9 as against 43.4 for the period ending March 2017.
8. What is the base year for Financial Inclusion Index launched by RBI?
   A) March 2016
   B) March 2011
   C) March 2018
   D) No base year
   
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   Option D
   Explanation: The FI-Index has been constructed without any ‘base year’ and as such it reflects cumulative efforts of all stakeholders over the years towards financial inclusion.
9. What is the Digital Payments Index (RBI-DPI) for March 2021?
   A) 270.59
   B) 207.84
   C) 217.74
   D) 173.49
   
   View answer

   Option A
   Explanation: 270.59
10. What is India’s GDP growth rate projection by Ind-Ra for FY22?
    A) 9.1%
    B) 9.4%
    C) 9.6%
    D) 9.8%
    
    View answer

    Option B
    Explanation: India Ratings (Ind-Ra) has projected the GDP growth rate for India for FY22 at 9.4%.

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