Banking GK-2

Banking GK-2

1. Fixed Deposit (FD)Account may be opened for a minimum period of:

Answers: 7 days

2. What is the minimum amount required to open a Fixed Deposit (FD)?

Answers: Rs.1000

3. The Banks has converted all ‘no - frills' accounts’ into:

Answers: Basic Savings Bank Deposit Accounts

4. 'Pradhan Mantri Jan Dhan Yojana' is a Scheme for:

Answers: Financial inclusion

5. How much overdraft facility to be provided in 'Pradhan Mantri Jan Dhan Yojana' scheme?

Answers: Rs. 5,000

6. In CBS, C stands for:

Answers: Core

7. In CRAR, A stands for:

Answers: Assets (Capital to Risk Weighted Assets Ratio)

8. IMPS - Immediate Payment Service is an interbank electronic instant mobile money transfer service through mobile phones in India, the facility is provided by:

Answers: NPCI (National Payment Corporation of India)

9. The Central Bank of India has adopted new measure of inflation:

Answers: Consumer Price Index (CPI)

10. When a cheque is torn into two or more pieces and presented for payment, such a cheque is called:

Answers: mutilated cheque

11. How much fee charged to file a complaint under Banking Ombudsman?

Answers: Banking Ombudsman does not charge any fee

12. Who is the appellate authority in Banking Ombusdsman?

Answers: Deputy Governor of RBI

13. If any customer is not satisfied by the decision of Banking Ombudsman, customer can appeal against the award before the appellate authority within how many days from the date of receipt?

Answers: 30 days

14. ATMs or Cash Dispensing machine which are owned and operated by Non-Banking Financial Companiesare called:

Answers: White Label ATMs.

15. RBI gave in-principle for Banking license to:

Answers: IDFC and Bandhan

16. Minimum capital requirement for new banks in private sector is:

Answers: Rs. 500 crore

17. A Non-Banking Financial Company (NBFC) is a company registered under the:

Answers: Companies Act, 1956

18. Minimum capital requirement for Non-Banking Financial Company (NBFC) is:

Answers: Rs. 500 crore

19. The NBFCs are allowed to accept/renew public deposits for a minimum period of:

Answers: 12 months ( and maximum period of 60 months)

20. A NBFCs cannot offer interest rates higher than the ceiling rate prescribed by RBI? What is the present ceiling?

Answers: 12.5 per cent per annum

21. Minimum capital requirement for Foreign banks that want to set up operations in India is:

Answers: Rs. 500 crore

22. What is the minimum paid-up capital requirement of both small banks and payments banks in India?

Answers: Rs. 100 crore

23. RBI extended the timeline for full implementation of Basel III norms till:

Answers: 31 March 2019

24. SLR ((Statutory Liquidity Ratio)is the amount a commercial banks needs to maintain in the form of _______before providing credit to its customers.

Answers: cash, or gold, or govt. approved securities (Bonds)

25. _______ is the rate at which banks borrow funds overnight from the Reserve Bank of India (RBI) against approved government securities.

Answers: Marginal Standing Facility (MSF)

26. Who issues Treasury bills (T-bills) in India?

Answers: Government of India

27. Treasury bills are available for a minimum amount of:

Answers: Rs. 25,000

28. Minimum & Maximum Limit of NEFT:

Answers: no limit

29. What is the rate of interest rate on provident fund for the current fiscal?

Answers: 8.75%

30. Govt. to implement GST (Goods & Services Tax) new indirect tax regime from:

Answers: 1st April 2016

31. RBI extends deadline for exchanging pre-2005 currency from June 30, 2015 to

Answers: December 31, 2015

32. How much amount RBI allows in 'Tap and pay' transactions without PIN?

Answers: Rs. 2000

33. RBI lifted a ban on carrying Indian bank notes of Rs 1,000 and Rs. 500 denominations to and from:

Answers: Nepal and Bhutan

34. C stands for in "KYC":

Answers: Customer

35. Pension scheme for unorganized sector:

Answers: Swavalamban

36. Full form of REIT:

Answers: Real State Investment Trust

37. Forward Market Commission merge with:

Answers: SEBI

38. Purpose of starting Minor account for 10 years children:

Answers: Financial inclusion

39. Full form of CVV:

Answers: Card Verification Value

40. Bank of International Settlement headquarter:

Answers: Switzerland

41. Who appoints Banking Ombudsman officer?

Answers: RBI

42. IFRS full form:

Answers: International Financial Reporting Standards.

43. Corporate Social Responsibility committee headed is by

Answers: Anil Baijal

44. Which is the Regulatory body for RRBs?

Answers: NABARD

45. RBI policy related to money laundering?

Answers: Know Your Customer

46. Mutual funds regulated by:

Answers: SEBI (Securities and Exchange Board of India)

47. What is the full form of MTSS?

Answers: Money Transfer Service scheme

48. How much amount of money can RBI lend to a bank?

Answers: 2% of NDTL

49. What RBI does to Increase its Monetary Base?

Answers: OMO Open Market Operations.

50. Which rate does RBI Reduces to Increase liquidity in market?

Answers: Repo Rate