General and Banking Awareness Quiz Set - 7 Questions and Answers

  • 1. As per the latest Monetary Policy Review it has been decided by The Reserve Bank of India to reduce the Statutory Liquidity  Ratio w.e.f 24th June 2017 from 20.5% to __________
   A.) 20.25%
   B.) 20.00%
   C.) 21.00%
   D.) 20.75%

Answer: Option 'B'

20.00%

  • 2. Which of the following are the facts about Money Transfer Service Scheme (MTSS) ?
   A.) It is a quick and easy way of transferring personal remittances from abroad to beneficiaries in India.
   B.) Only inward personal remittances into India such as remittances towards family maintenance
   C.) Remittances favouring foreign tourists visiting India are permissible
   D.) All the above

Answer: Option 'D'

All the above

  • 3. Fiscal policy is concerned with which of the following ?
   A.) Population control
   B.) Public revenue and expenditure
   C.) Population control
   D.) Issue of currency

Answer: Option 'B'

Public revenue and expenditure

  • 4. Which bank is launching Rs. 15,000 Crore share sale to Institutions to increase capital base as a part of meeting Basel III requirements by March 2019 ?
   A.) United Bank of India
   B.) State Bank of India
   C.) Indian Bank b Union Bank of India
   D.) IDBI

Answer: Option 'B'

State Bank of India

  • 5. In ‘Small Accounts’ balance in such accounts at any point of time should not exceed ________
   A.) Rs.10,000
   B.) Rs.50,000
   C.) Rs.1,00,000
   D.) Rs.25,000

Answer: Option 'B'

Rs.50,000

  • 6. In Electronic Clearing Service there are two types of viz., ECS debit and ECS Credit. What does ECS debit represents?
   A.) Number of debits and one credit
   B.) Number of credits and one debit
   C.) Multiple number of debits and credits
   D.) Few Debits and Few Credits

Answer: Option 'A'

Number of debits and one credit

  • 7. A transfer of money from a migrant worker to their families or other individuals in their home countries is known as _______
   A.) Commercial banking
   B.) Inward Remittance
   C.) Foreign Remittance
   D.) Wholesale banking

Answer: Option 'C'

Foreign Remittance

  • 8. The Public Information Officer is required to reply to the query raised under Right to Information Act within in maximum period of _________ days. In case of delay, the penalty is Rs. _________ per day.
   A.) 10 days; 100
   B.) 20 days ; 250
   C.) 30 days ; 250
   D.) 7 days : 350

Answer: Option 'C'

30 days ; 250

  • 9. Which of the following was the first development finance institution established by the Indian government after independence?
   A.) ICRA
   B.) PFC
   C.) IFCI
   D.) IDFC

Answer: Option 'C'

IFCI

  • 10. When credit facilities to one party are sanctioned by more than one bank under a common arrangement, such facility given to a customer is called _____________
   A.) Syndication
   B.) Consortium
   C.) Participation
   D.) Multiple Banking

Answer: Option 'B'

Consortium

  • 11. FATCA stands for ?
   A.) Forex Account Tax Compliance Act
   B.) Foreign Account Tax Compliance Act
   C.) Foreign Account Total Compliance Act
   D.) Forex Account Total Compliance Act

Answer: Option 'B'

Foreign Account Tax Compliance Act

  • 12. Industrial Finance Corporation of India, is an Indian government owned ______
   A.) Private Bank
   B.) Scheduled Bank
   C.) Development Bank
   D.) All of these

Answer: Option 'C'

Development Bank

  • 13. "Buy Now - Pay Now" is commonly used for
   A.) Debit Cards
   B.) Vault Cards
   C.) Credit Cards
   D.) E-purse

Answer: Option 'A'

Debit Cards

  • 14. Medium-term industrial finance refers to the funds required for a period of one year to ________
   A.) 6 years
   B.) 2 years
   C.) 4 years
   D.) 5 years

Answer: Option 'D'

5 years

  • 15. In ‘Small Accounts’ total withdrawal and transfers in a month should not exceed ______
   A.) Rs.50,000
   B.) Rs.1,00,000
   C.) Rs.10,000
   D.) Rs.25,000

Answer: Option 'C'

Rs.10,000

  • 16. There are credit rating Agencies like Standard and Poor, Moody's. According to these Agencies Corporate Bond which carry a rating of AAA is considered to be _________
   A.) Exceptional worthiness rating
   B.) High probability of default
   C.) Low risk
   D.) Medium Risk

Answer: Option 'A'

Exceptional worthiness rating

  • 17. "Buy Now - Pay Now" is commonly used for
   A.) Debit Cards
   B.) Vault Cards
   C.) Credit Cards
   D.) E-purse

Answer: Option 'A'

Debit Cards

  • 18. A collaborative network that uses Internet Technology to link business with their suppliers is ________
   A.) Internet
   B.) Intranet
   C.) Extranet
   D.) WAN

Answer: Option 'C'

Extranet

  • 19. Banknet was set up by ________
   A.) IBA
   B.) RBI
   C.) Central Govt
   D.) IT department of Concerned Bank

Answer: Option 'B'

RBI

   A.) Foreign Remittance
   B.) Inward Remittance
   C.) Commercial banking
   D.) Wholesale banking

Answer: Option 'B'

Inward Remittance

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