View Answer Option C: For More Join

1. What is the present interest rate in Public Provident Fund(PPF) Scheme?
A) 7.5%
B) 7.6%
C) 7.8%
D) 7.7%
View Answer
Option C
2. What is the maximum deposit limit allowed in a financial year in Public

Provident Fund(PPF) Scheme?
A) Rs. 1,50,000/-
B) Rs. 2,50,000/-
C) Rs. 5,00,000/-
D) Rs. 1,00,000/-
View Answer
Option A
Explanation: Minimum Deposit :Rs. 500/- in a financial year
Maximum Deposit : Rs. 1,50,000/- in a financial year
3. What is the present interest rate in Senior Citizen Savings Scheme (SCSS)?
A) 8.2%
B) 7.7%
C) 8.3%
D) 8.5%
View Answer
Option C
4. What is the maximum deposit allowed under Senior Citizen Savings Scheme
(SCSS)?
A) Rs 10 lakh
B) Rs 5 lakh
C) No such limit
For more join - https://t.me/bhawna_weekly_quiz_pdf https://t.me/reasoning_group https://t.me/quant_group

https://t.me/adda4ssc https://t.me/adda4english
D) Rs 15 lakh
View Answer
Option D
Explanation: Minimum Deposit : Rs. 1000
Maximum Deposit : Rs 15 lakh
5. What is the present interest rate in Kisan Vikas Patra (KVP)?
A) 7.0%
B) 7.7%
C) 7.5%
D) 7.4%
View Answer
Option C
6. What is the maximum deposit allowed under Kisan Vikas Patra (KVP)?
A) Rs 5 lakh
B) Rs 50 lakh
C) Rs 10 lakh
D) No such limit
View Answer
Option D
Explanation:
Minimum Deposit : Rs. 1000/-
Maximum Deposit : No limit
7. What is the present interest rate in Sukanya Samriddhi Accounts Scheme?
A) 7.9%
B) 8.3%
C) 8.5%
D) 8.0%
View Answer

Option B
8. What is the maximum deposit allowed in a financial year under Sukanya

Samriddhi Accounts Scheme?
A) Rs. 1,00,000/-
B) Rs. 1,50,000/-
C) Rs. 50,000/-
D) No such limit
View Answer
Option B
Explanation:
Minimum Deposit : Rs. 1000/- in a financial year
Maximum Deposit : Rs. 1,50,000/- in a financial year
9. What is the present interest rate in National Savings Certificates (NSC) Scheme?
A) 8.0%
B) 7.7%
C) 7.8%
D) 7.5%
View Answer
Option C
10.What is the maximum deposit allowed under National Savings Certificates
(NSC) Scheme(5 years short term)?
A) Rs 5 lakh
B) Rs 10 lakh
C) Rs 15 lakh
D) No such limit
View Answer
Option D
Explanation:
Minimum Deposit : Rs. 100/-
Maximum Deposit : No Limit
1. A Non-Banking Financial Company (NBFC) is a company registered under the
_________ .
A) Reserve Bank of India Act, 1934
B) Banking Regulation Act, 1949
C) Companies Act, 1956
D) Payment and Settlement Systems Act, 2007
View Answer
Option C
Explanation: A Non-Banking Financial Company (NBFC) is a company
registered under the Companies Act, 1956(Section 3) engaged in the business of
loans and advances, acquisition of shares/stocks/bonds/debentures/securities
issued by Government or local authority or other marketable securities of a like
nature, leasing, hire-purchase, insurance business, chit business but does not
include any institution whose principal business is that of agriculture activity,
industrial activity, purchase or sale of any goods (other than securities) or
providing any services and sale/purchase/construction of immovable property.
2. For a company to register as a NBFC it should have a minimum net owned fund
of _____.
A) Rs 25 lakh
B) Rs 1 crores
C) Rs 2 crores
D) Rs 5 crores
View Answer
Option C
Explanation: The minimum net owned fund should be Rs 2 crore. Earlier it was
Rs 25 lakh, however recently in January 2017 it was revised to Rs 2 crore.
3. Any NBFC is is considered systemically important NBFC when its asset size is
of Rs ____ or more.
A) Rs 100 Crore
B) Rs 500 Crore
C) Rs 250 Crore
D) Rs 750 Crore

View Answer
Option B
Explanation: NBFCs whose asset size is of Rs 500 cr or more as per last
audited balance sheet are considered as systemically important NBFCs.
4. Which of the following is true about NBFC?
(i) NBFC cannot accept demand deposits
(ii) NBFCs cannot issue cheques drawn on itself
(iii) deposit insurance facility of DICGC is not available to depositors of
NBFCs.
A) Only (i) and (ii)
B) Only (ii) and (iii)
C) Only (i) and (iii)
D) All are true
View Answer
Option D
Explanation: All the three points mentioned above are true. These points
differentiate NBFC and banks
5. NBFCs are required to accept public deposit for a minimum period of ___
months?
A) 6 months
B) 12 months
C) 18 months
D) 24 months
View Answer
Option B
Explanation: The NBFCs are allowed to accept/renew public deposits for a
minimum period of 12 months . They cannot accept deposits repayable on
demand.
6. NBFCs are required to accept public deposit for a maximum period of ___
months?
A) 36 months
B) 48 months
C) 60 months
D) 120 months
View Answer
Option C
Explanation: The NBFCs are allowed to accept/renew public deposits for a
minimum period of 12 months and maximum period of 60 months.
7. What is the present ceiling limit of interest rate that NBFCs can offer ?
A) 9%
B) 12%
C) 12.5%
D) 14.5%
View Answer
Option C
Explanation: NBFCs cannot offer interest rates higher than the ceiling rate
prescribed by RBI from time to time. The present ceiling is 12.5 per cent per
annum.
8. Identify the false statement.
A) NBFC should register under Section 3 of the companies Act, 1956
B) Nomination facility is available to the depositors of NBFCs
C) The deposits with NBFCs are not insured.
D) The repayment of deposits by NBFCs is guaranteed by RBI.
View Answer
Option D
Explanation: The repayment of deposits by NBFCs is not guaranteed by RBI.
9. For working as a NBFC a company must get itself registers with _____ .
A) RBI
B) SEBI
C) Finance Ministry
D) NHB

View Answer
Option A
Explanation: In terms of Section 45-IA of the RBI Act, 1934, no Non-banking
Financial company can commence or carry on business of a non-banking
financial institution without obtaining a certificate of registration from the Bank
.
10.Chit Fund companies are regulated under the Chit Fund Act, ____ .
A) 1980
B) 1981
C) 1982
D) 1983
View Answer
Option C
Explanation: Chit Fund companies are regulated under the Chit Fund Act, 1982
Chit Funds comes under NBFC.
1. A Payments Bank is licensed under which Act?
View Answer
Option B
Explanation: It will be registered as a public limited company under the
Companies Act, 2013, and licensed under the Banking Regulation Act, 1949
2. A payments bank is licensed under ______ of Banking Regulation Act, 1949.
A) Section 6
B) Section 21
C) Section 22
D) Section 32
View Answer

Option C
Explanation: The payments bank will be licensed under Section 22 the Banking
Regulation Act, 1949 .
3. What is the maximum balance that any account of payments bank can hold?
A) Rs 2,50,000
B) Rs 1,50,000
C) Rs 1,00,000
D) Rs 50,000
View Answer
Option C
Explanation: Payments bank will initially be restricted to holding a maximum
balance of Rs. 100,000 per individual customer.
A) Payments bank cannot accept NRI deposits
B) Payments banks cannot issue credit cards
C) RBI envisage payments banks to be “virtual” banks or branchless banks.
D) A payments bank may choose to become a BC of another bank
View Answer
Option C
Explanation: RBI does not envisage payments banks to be “virtual” banks or
branchless banks.
5. The payments bank will be required to use the words ________ in its name in
order to differentiate it from other banks.
A) “Payments”
B) “Payments Bank”
C) “Payments Branch”
D) “P Banks”
View Answer
Option B

6. Payments Bank are required to invest minimum _____ per cent of its “demand
deposit balances” in Government securities/Treasury Bills with maturity up to
one year.
A) 25 %
B) 50 %
C) 75 %
D) 100 %
View Answer
Option C
Explanation: The payments bank cannot undertake lending activities. Apart
from amounts maintained as Cash Reserve Ratio (CRR) with RBI on its outside
demand and time liabilities, it will be required to invest minimum 75 per cent of
its “demand deposit balances” in Government securities/Treasury Bills with
maturity up to one year that are recognized by RBI as eligible securities for
maintenance of Statutory Liquidity Ratio (SLR) and hold maximum 25 per cent
in current and time / fixed deposits with other scheduled commercial banks for
operational purposes and liquidity management.
7. What is the minimum paid-up equity capital of the payments bank?
A) Rs 100 crore
B) Rs 200 crore
C) Rs 500 crore
D) Rs 800 crore
View Answer
Option A
Explanation: The minimum paid-up equity capital of the payment bank shall be
Rs. 100 crore. The bank shall be required to maintain a minimum capital
adequacy ratio of 15 per cent of its risk weighted assets (RWA)
8. A payments bank will be recognized as Systematically Importatant when the net
worth of the bank reaches _____ .
A) Rs 350 crore
B) Rs 500 crore
C) Rs 550 crore

D) Rs 800 crore
View Answer
Option B
Explanation: When the payment bank reaches the net worth of Rs.500 crore,
and therefore becomes systemically important, diversified ownership and listing
will be mandatory within three years of reaching that net worth.
9. Any shareholder’s voting rights in Payments bank are capped at 10 per cent.
This limit can be raised to ___ %.
A) 15%
B) 20%
C) 26%
D) 40%
View Answer
Option C
10.The promoter’s minimum initial contribution to the paid-up equity capital of
payments bank shall at least be ____ per cent for the first five years from the
commencement of its business.
A) 20%
B) 30%
C) 40%
D) 50%
View Answer
Option C
Explanation: The promoter’s minimum initial contribution to the paid-up
equity capital of such payment bank shall at least be 40 per cent for the first five
years from the commencement of its business.
1. A cheque is defined under which act?
A) Payment and Settlement Systems Act, 2007
B) Reserve Bank of India Act, 1934
C) Banking Regulation Act, 1949

D) Negotiable Instruments Act, 1881
View Answer
Option D
Explanation: A cheque is defined under NI Act 1881
2. A cheque is defined under ____ of Negotiable Instrument Act, 1881
A) Section 5
B) Section 6
C) Section 7
D) Section 8
View Answer
Option B
Explanation: Section 6 of NI Act 1881
3. A person who signs on the face of the cheque is known as ______
A) Drawee
B) Beneficiary
C) Payee
D) Drawer
View Answer
Option D
Explanation: Drawer – A person who issues the cheque. He/she will sign the
cheque
Drawee : Bank
Payee : recipient of the cheque amount.
4. ______ is the process of stopping the flow of the physical cheque issued by a
drawer at some point by the presenting bank.
A) Teleporting
B) Transport
C) Elimination
D) Truncation

View Answer
Option D
Explanation: Truncation is the process of stopping the flow of the physical
cheque issued by a drawer at some point by the presenting bank en-route to the
paying bank branch. In its place an electronic image of the cheque is transmitted
to the paying branch through the clearing house
5. A cheque which is payable to a person whosoever bears it is known as?
A) Blank Cheque
B) Bearer Cheque
C) Order Cheque
D) Stale Cheque
View Answer
Option B
Explanation: A bearer cheque is one that does not has the word ‘Bearer’ on the
cheque cancelled. Whoever carries this cheque to the bank will be paid the
amount money mentioned in the cheque.
6. When the word Bearer is cancelled on a cheque the cheque becomes ______
cheque.
A) Semi Bearer
B) Stale
C) Hidden
D) Order
View Answer
Option D
Explanation: Order Cheque is a cheque whereby the printed word Bearer on the
cheque is cancelled.
7. A truncated cheque is one which is ____ .
A) torn
B) photocopied
C) post dated
D) scanned

View Answer
Option D
Explanation: In CTS, a scanned copy of cheque is used for tnasmission.
8. In a cheque the amount written in in figures(numbers) is called _____ .
A) Legal Amount
B) Counting Amount
C) Courtesy Amount
D) Numbered Amount
View Answer
Option C
Explanation: Amount in words is known as – legal amount. ; Amount in
figures(number) is known as courtesy amount
9. A cheque with data written on it 01-02-2017 is presented in a bank on 05-02-
2017. This cheque is an example of _____.
A) Post-dated cheque
B) Ante-dated cheque
C) Stale cheque
D) None of these
View Answer
Option B
Explanation: When a cheque bears a date with is earlier than the date on which
it is presented in a bank it is known as Ante-dated cheque.
Similarly when a cheque bearing a date which is yet to come, is presented in a
bank it is known as Post-dated cheque
10.Which of the following is a process in which a cheque is transferred to a name
of another person by signing on the cheque along with the name of person to
whom cheque is being transferred is known as?
A) Truncation
B) Endorsement
C) Restriction
D) Transfer

View Answer
Option B
1. What is the full form of NABARD?
A) National Agriculture Bank for Rural Development
B) Nationalised Agricultural Bank of Rural Development
C) National Bank for Agriculture and Rural Development
D) Nationalised Bank for Agriculture and Rural Development.
View Answer
Option C
Explanation: NABARD – National Bank for Agriculture and Rural
Development.
2. In which year was NABARD established?
A) 1969
B) 1991
C) 1982
D) 1990
View Answer
Option C
Explanation: NABARD came into existence on 12 July 1982
3. What is the paid up capital of NABARD?
A) Rs 100 crore
B) Rs 3000 crore
C) Rs 30,000 crore
D) Rs 10,000 crore
View Answer
Option C
Explanation: Set up with an initial capital of Rs.100 crore, the paid up capital
of NABARD stood at Rs. 5,000 crore as on 31 March 2016.
The paid up capital as on 31 May 2017, stood at Rs.30,000 crore with
Government of India holding Rs.30,000 crore (100% share).
4. The Reserve Bank of India holds __ per cent of shares in NABARD
A) 1 %
B) 0.40 %
C) 99 %
D) 99.60 %
View Answer
Option B
Explanation: The Government of India today holds Rs. 4,980 crore (99.60%)
while Reserve Bank of India holds Rs. 20.00 crore (0.40%).
5. What is the fullform of ARDC?
A) Agriculture Reform and Development Council
B) Agricultural Refinance and Development Corporation
C) Agricultural Reformation and Developmental Council
D) Agri Refinance and Developmental Council
View Answer
Option B
Explanation: It must be notes that : NABARD came into existence on 12 July
1982 by transferring the agricultural credit functions of RBI and refinance
functions of the then Agricultural Refinance and Development Corporation
(ARDC)
6. NABARD was established on the recommendation of which committee?
A) A Ghosh Committee
B) BD Shah Committee
C) B.Sivaraman Committee
D) C Rao Committee
View Answer
Option C
Explanation: NABARD was established on the recommendations of
B.Sivaraman Committee
7. Where is the headquarter of NABARD located?
A) New Delhi
B) Mumbai
C) Lucknow
D) Bangalore
View Answer
Option B
8. In which year Rural Infrastructure Development Fund(RIDF) was created in
NABRARD ?
A) 1991-92
B) 1992-93
C) 1995-96
D) 1996-97
View Answer
Option C
9. NABARD was approved by the Parliament through ______ of 1981.
A) Act 57
B) Act 24
C) Act 65
D) Act 61
View Answer
Option D
10.Which of the following is not a role of NABARD?
A) Providing refinance to lending institutions in rural areas
B) Bringing about or promoting institutional development
C) Evaluating, monitoring and inspecting the client banks
D) All are its role
View Answer
Option D
1. What does G stands for in DICGC?
A) General
B) Guarantee
C) Guideline
D) Generation
View Answer
Option B
Explanation: Deposit Insurance and Credit Guarantee Corporation (DICGC). In
the event of a bank failure, DICGC protects bank deposits that are payable in
India.
2. In which year DICGC was established?
A) 1961
B) 1969
C) 1978
D) 1982
View Answer
Option C
Explanation: It was established on 15 July 1978
3. DICGC was established under the Act DICGC ____
A) 1960
B) 1961
C) 1977
D) 1978
View Answer
Option B
Explanation: DICGC Act, 1961
4. Which two organisations were merged to form DICGC?
A) DIG & DGCI
B) DCI & CGCD
C) DIC & DGDI
D) DIC & CGCI
View Answer
Option D
Explanation: With a view to integrating the functions of deposit insurance and
credit guarantee , Deposit Insurance Corporation (DIC) and Credit Guarantee
Corporation of India Ltd. (CGCI) . were merged and the present Deposit
Insurance and Credit Guarantee Corporation (DICGC) came into existence on
July 15, 1978. Consequently, the title of Deposit Insurance Act, 1961 was
changed to ‘The Deposit Insurance and Credit Guarantee Corporation Act, 1961
‘.

5. What is the maximum deposit amount insured by the DICGC?
A) Rs 2,00,000
B) Rs 1,00,000
C) Rs 3,00,000
D) No limit
View Answer
Option B
Explanation: Each depositor in a bank is insured upto a maximum of
Rs.1,00,000 (Rupees One Lakh) for both principal and interest
6. Who acts as the Chairman of Board of Directors of DICGC?
A) Governor of RBI
B) Deputy Governor of RBI
C) Appointed by Central Government
D) Chairman of NABARD
View Answer
Option B
Explanation: The management of the Corporation vests with its Board of
Directors, of which a Deputy Governor of the RBI is the Chairman . Presnt
Chiarman is – Shri N.S.Vishwanathan (As updated on 25 February 2017)
7. What is the authorized capital of DICGC?
A) Rs 100 crore
B) Rs 50 crore
C) Rs 150 crore
D) Rs 500 crore
View Answer
Option B
8. What is Reserve Bank of India(RBI)′s stake in DICGC?
A) 80%
B) 90%
C) 99.40%

D) 100%
View Answer
Option D
Explanation: The authorized capital of the Corporation is 50 crore, which is
fully issued and subscribed by the Reserve Bank of India (RBI).
A) Regional Rural Banks are insured by DICGC.
B) DICGC insures current deposits
C) DICGC insures Deposits of Central Government
D) All are true
View Answer
Option C
Explanation: DICGC insures all bank deposits, such as saving, fixed, current,
recurring, etc. except the following types of deposits.
(i) Deposits of foreign Governments;
(ii) Deposits of Central/State Governments;
(iii) Inter-bank deposits;
(iv) Deposits of the State Land Development Banks with the State co-operative
banks;
(v) Any amount due on account of and deposit received outside India;
(vi) Any amount which has been specifically exempted by the corporation with
the previous approval of the RBI.
10.Where is the Headquarter of DICGC located?
A) New Delhi
B) Mumbai
C) Kolkata
D) Lucknow
View Answer
Option B
1. What does T stands for in T-Bills?
A) Trust
B) Transfer
C) Treasury
D) Trade
View Answer
Option C
Explanation: Treasury bills
2. Who issues Treasury bills(T-bills) in India?
A) RBI
B) Central Governemnt
C) State Governemnt
D) Both B and C
View Answer
Option B
Explanation: Treasury bills are issued by the Government of India.Reserve
Bank of India manages and services these securities through its public debt
offices. There are no treasury bills issued by State Governments.
3. What is the maximum tenure of T-Bills in India?
A) 91 days
B) 182 days
C) 364 days
D) 728 days
View Answer
Option C
Explanation: At present, the Government of India issues three types of treasury
bills through auctions, namely, 91-day, 182-day and 364-day.
4. What is the minimum amount for which T-Bills are issued in India?
A) Rs 10,000
B) Rs 25,000
C) Rs 50,000
D) Rs 1,00,000

View Answer
Option B
Explanation: Minimum Amount: Rs 25,000 and multiples of Rs 25,000
5. What is the maximum amount for which T-bills are issued in India?
A) Rs 1,00,000
B) Rs 5,00,000
C) Rs 10,00,000
D) No Such Limit
View Answer
Option D
Explanation: There is no ceiling limit on T-Bills.
6. T-bills auctions are held on NDS platform. What is the full form of NDS?
A) Negotiated Dealing System
B) Non Deduction System
C) Non Differentiated System
D) Networked Dealing System
View Answer
Option A
Explanation: T-bills auctions are held on the Negotiated Dealing System (NDS)
and the members electronically submit their bids on the system.
7. Identify the correct statement.
A) T-Bills are issued at face value and redeemed at discount at maturity.
B) T-Bills are issued at face value and redeemed at negotiated value at maturity.
C) T-bills are issued at a discount and redeemed at the face value at maturity
D) All are correct
View Answer
Option C
Explanation: T-biils are issued at a discount and redeemed at the face value at
maturity.
Example : A T-Bill with a value of Ss 100(Face Value) will be sold in the

market at Rs 9.50(discount of Rs 1.50) Then upon maturity it will be redeemed
(buy back) at Rs 100(Full Face Value)
8. Identify the false statement
A) T-bills are money market instrument.
B) T-bills are issued by Government of India
C) T-bills are zero coupon securities.
D) All are true
View Answer
Option D
Explanation: All are true. A zero-coupon security is one which makes no
periodic interest payments and is sold at a deep discount from face value.
9. Identity the false statement.
A) Banks can use T-bills for fulfilling their SLR requirements
B) RBI auctions T-bills everyday on its website
C) T-bills have zero risk associated with them.
D) All are true
View Answer
Option B
Explanation: The Reserve Bank of India conducts auctions usually every
Wednesday to issue T-bills.
10.Treasury bills are also issued under the MSS. What is the full form of MSS?
A) Market Security Scheme
B) Market Securitization Scheme
C) Market Security Structure
D) Market Stabilization Scheme
View Answer
Option D
Explanation: MSS : Market Stabilization Scheme – These are the security
issued to extract excess liquidity in the system rather than providing the
government with funds.

1. What is the minimum denomination for which Sovereign Gold Bond(SGB) is
issued?
A) 1 gram
B) 2 gram
C) 3 gram
D) 4 gram
View Answer
Option A
Explanation: Minimum is 1 gram (The minimum subscription limit has been
reduced from 2 gram to 1 gram with the view to enlarge the subscriber base;)
2. What is the maximum denomination for which Sovereign Gold Bond is issued
in case of joint account?
A) 1 kg
B) 2 kg
C) 4 kg
D) No limit in joint account
View Answer
Option C
Explanation: Maximum linit in SGB is 500 gms. Irrespective of single or joint
account.
3. What is the interest rate in Sovereign Gold Bond (SGB)?
A) 2.50%
B) 2.75%
C) 3.00%
D) 3.25%
View Answer
Option A
Explanation: The Bonds bear interest at the rate of 2.50 per cent (fixed rate) per
annum on the amount of initial investment. Interest will be credited semi-
annually to the bank account of the investor and the last interest will be payable
on maturity along with the principal.
4. Which of the following agency cannot sell Sovereign Gold Bond (SGB)?
A) Public Sector Banks
B) SHCIL offices
C) Post Offices
D) Regional Rural Banks
View Answer
Option D
Explanation: Bonds are sold through scheduled commercial banks (excluding
RRBs), SHCIL offices and designated Post Offices either directly or through
their agents.
5. What is the tenor of bonds issued under Sovereign Gold Bond (SGB)?
A) 5 years
B) 3 years
C) 8 years
D) 10 years
View Answer
Option C
Explanation: 8 years
6. What is the minimum numbers of year after which premature redemption is
allowed under Sovereign Gold Bond (SGB) scheme?
A) 2 years
B) 3 years
C) 5 years
D) No such limit
View Answer
Option C
Explanation: Though the tenor of the bond is 8 years, early
encashment/redemption of the bond is allowed after fifth year from the date of
issue on coupon payment dates.
7. What is the maximum limit of cash payment allowed under Sovereign Gold
Bond (SGB) scheme?
A) Rs 15,000
B) Rs 20,000
C) Rs 25,000
D) Rs 30,000
View Answer

Option B
Explanation: Payment can be made through cash (upto Rs.
20000)/cheques/demand draft/electronic fund transfer.
8. What is the maximum limit for banks to purchase Sovereign Gold Bond (SGB)?
A) 5 kg
B) 10 kg
C) 15 kg
D) No limit
View Answer
Option D
Explanation: There is no limit for Banks, as it will qualify for SLR.
A) Sovereign Gold Bond (SGB) is issued by Reserve Bank on behalf of
Government of India.
B) SGB is free from issues like making charges and purity in the case of gold in
jewellery form.
C) Issuance and redemption price of Bond is fixed on the basis of the price of
gold of 998 purity
D) Sovereign Gold Bond (SGB) can be transferred/gifted to someone.
View Answer
Option C
Explanation: Price of bond will be fixed in Indian Rupees on the basis of price
for gold of 999 purity published by the India Bullion and Jewellers’ Association
Ltd. (IBJA).
10.Which of the following statement is true?
A) Minors cannot invest in SGB.
B) Joint Holding is not allowed under SGB.
C) SGB can be used as collateral for loans from banks
D) TDS is applicable on the bond
View Answer
Option C
Explanation: Only C is true rest all are false. Correct statements
A) Minors can invest under SGB. The application on behalf of the minor has to
be made by his/her guardian.
B) Joint Holding is allowed under SGB
D) TDS is not applicable on SGB.
1. Which of the following cannot issue Certificate of Deposit (CD)?
(i) Regional Rural Banks
(ii) Local Area Banks
(iii) All-India Financial Institutions (FIs)
A) Only (i)
B) Only (ii)
C) Only (iii)
D) Both (i) and (ii)
View Answer
Option D
Explanation: CDs can be issued by (i) scheduled commercial banks {excluding
Regional Rural Banks and Local Area Banks}; and (ii) select All-India Financial
Institutions (FIs) that have been permitted by RBI
2. What is the minimum deposit under Certificate of Deposit (CD)?
A) Rs 25,000
B) Rs 50,000
C) Rs 1,00,000
D) Rs 2,00,000
View Answer
Option C
Explanation: Minimum amount of a CD should be Rs.1 lakh, i.e., the minimum
deposit that could be accepted from a single subscriber should not be less than
Rs.1 lakh, and in multiples of Rs. 1 lakh thereafter.
3. What is the minimum maturity period of a CD issued by a bank?
A) 7 days
B) 14 days
C) 30 days
D) 1 year
View Answer
Option A
Explanation: 7 days
4. What is the maximum maturity period of a CD issued by a bank?
A) 1 year
B) 2 year
C) 3 year
D) 4 year
View Answer
Option A
Explanation: 1 year
5. What is the minimum maturity period of a CD issued by a Financial Institution?
A) 7 days
B) 14 days
C) 30 days
D) 1 year
View Answer
Option D
Explanation: 1 year
6. What is the maximum maturity period of a CD issued by a Financial Institution?
A) 1 year
B) 2 year
C) 3 year
D) 4 year
View Answer
Option C
Explanation: 1-3 year
7. Identify the true statement.
A) Banks / FIs cannot grant loans against CDs.
B) CDs may be issued at a discount on face value.
C) Banks / FIs are also allowed to issue CDs on floating rate basis.
D) All are correct
View Answer
Option D
Explanation: All of the above three statements are true.
8. What is the maximum amount for which CDs can be issued?
A) Rs 10,00,000
B) Rs 15,00,000
C) Rs 20,00,000
D) No such limit
View Answer
Option D
9. Find the false statement.
A) Non-Resident Indians (NRIs) may also subscribe to CDs
B) A CD issued to NRI can be endorsed to another NRI in the secondary
market.
C) The FIs can issue CDs for a period not less than 1 year
D) There is no lock-in period for the CDs.
View Answer
Option B
Explanation: Such CDs cannot be endorsed to another NRI in the secondary
market.
10.Which statement(s) is/are false
(i) CDs are transferable.
(ii) CDs issued to NRIs is repatriable
(iii) Banks have to maintain CRR and SLR on the issue price of the CDs.
A) Both (i) and (ii)
B) Both (i) and (iii)
C) Only (ii)
D) Only (ii) and (iii)

View Answer
Option C
Explanation: Non-Resident Indians (NRIs) may also subscribe to CDs, but only
on non-repatriable basis
1. In which year was Commercial Paper (CP) introduced?
A) 1982
B) 1999
C) 1992
D) 1990
View Answer
Option D
Explanation: Commercial Paper (CP) is an unsecured money market instrument
issued in the form of a promissory note. It was introduced in India in 1990.
2. Which of the following cannot issue Commercial Paper (CP)?
A) Corporates
B) Scheduled Commercial Banks
C) All India Financial Institutions (AIFIs)
D) Standalone Primary Dealers
View Answer
Option B
Explanation: Corporates, primary dealers (PDs) and the All-India Financial
Institutions (FIs) are eligible to issue CP.
3. Corporates with minimum net worth of ___ can issue Commercial Paper (CP).
A) Rs 1 crore
B) Rs 2 crore
C) Rs 3 crore
D) Rs 4 crore
View Answer
Option D
Explanation: A corporate would be eligible to issue CP provided –

a. the tangible net worth of the company, as per the latest audited balance sheet,
is not less than Rs. 4 crore
b. company has been sanctioned working capital limit by bank/s or all-India
financial institution/s; and
c. the borrowal account of the company is classified as a Standard Asset by the
financing bank/s/ institution/s.
4. The minimum credit rating required by corporates and other issuer to issue
Commercial Paper (CP) ?
A) A-1
B) A-4
C) A-2
D) A-3
View Answer
Option C
Explanation: All eligible participants shall obtain the credit rating for issuance
of Commercial Paper either from Credit Rating Information Services of India
Ltd. (CRISIL) or the Investment Information and Credit Rating Agency of India
Ltd. (ICRA) or the Credit Analysis and Research Ltd. (CARE) or the FITCH
Ratings India Pvt. Ltd. or such other credit rating agency (CRA) as may be
specified by the Reserve Bank of India The minimum credit rating shall be A-2
5. What is the minimum denomination for which Commercial Paper (CP) can be
issued?
A) Rs 25,000
B) Rs 1,00,000
C) Rs 5,00,000
D) Rs 10,00,000
View Answer
Option C
Explanation: CP can be issued in denominations of Rs.5 lakh or multiples
thereof.
6. What is the minimum maturity period of Commercial Paper (CP)?
A) 1 day
B) 7 days
C) 14 days
D) 365 days
View Answer
Option B
Explanation:
7. What is the maximum maturity period of Commercial Paper (CP)?
A) 182 days
B) 365 days
C) 2 years
D) 5 years
View Answer
Option B
Explanation: 1 year
8. Only a scheduled bank can act as an IPA for issuance of CP. What does IPA
stands for?
A) Institute for Paying Adjustments
B) In Principle Approver
C) Issuing and Paying Agent
D) In Performing Agent
View Answer
Option C
Explanation: IPA – Issuing and Paying Agent
A) Banks can invest in CPs
B) CP shall be issued at a discount to face value
C) There is no maximum limit for amount the issue of CPs.
D) Issuers cannot buyback the CPs issued by them
View Answer

Option D
Explanation: Issuers may buyback the CP, issued by them to the investors,
before maturity.
10.Where is the headquarter of FIMMDA?
A) Delhi
B) Mumbai
C) Kolkata
D) Hyderabad
View Answer
Option B
Explanation: Fixed Income Money Market and Derivatives Association of
India (FIMMDA), may prescribe, in consultation with the RBI, any standardised
procedure and documentation for operational flexibility and smooth functioning
of CP market
1. What does D stands for in MUDRA?
A) Department
B) Deposit
C) Debt
D) Development
View Answer
Option D
Explanation: MUDRA stands for Micro Units Development & Refinance
Agency.
2. MUDRA was announced in the Budget for _____ .
A) FY 14
B) FY 15
C) FY 16
D) FY 17
View Answer
Option C
Explanation: MUDRA was announced in the budget 2015-16 by the Hon’ble
Finance Minister. i.e FY 16.
MUDRA was launched by the Hon’ble Prime Minister Shri Narendra Modi on
08 April 2015 at a function held at Vigyan Bhawan, New Delhi.
3. What is the full form of NCSB?
A) Non- Client Systematic Banking
B) Non- Corporate Small Business
C) Non- Customer Small Banking
D) Non- Corporate Systematic Business
View Answer
Option B
Explanation: NCSB is the main target group of MUDRA Yojana. Non–
Corporate Small Business Segment (NCSB) comprising of millions of
proprietorship / partnership firms running as small manufacturing units, service
sector units, shopkeepers, fruits / vegetable vendors, truck operators, food-
service units, repair shops, machine operators, small industries, artisans, food
processors and others, in rural and urban areas.
4. MUDRA is a wholly owned subsidiary of _______ .
A) RBI
B) NABARD
C) SIDBI
D) NHB
View Answer
Option C
Explanation: MUDRA has been initially formed as a wholly owned subsidiary
of Small Industries Development bank of India (SIDBI) with 100% capital being
contributed by it.
5. What is the Authorised Capital of MUDRA?
A) Rs 500 Crore
B) Rs 750 Crore
C) Rs 1,000 Crore
D) Rs 1,500 Crore

View Answer
Option C
Explanation: authorized capital of MUDRA: Rs. 1000 crores
Paid up capital is: Rs. 750 crore, fully subscribed by SIDBI.
6. What is the maximum loan that can be given under MUDRA Yojana?
A) Rs 1,00,000
B) Rs 5,00,000
C) Rs 10,00,000
D) No Upper Limit
View Answer
Option C
Explanation: The maximum limit is Rs 10 lakh
7. What is the maximum amount of loan that can be given under the product
Shishu of Pradhan Mantri MUDRA Yojana?
A) Rs 5,000
B) Rs 50,000
C) Rs 5,00,000
D) Rs 10,00,000
View Answer
Option B
Explanation: Shishu : covering loans upto Rs 50,000/-
8. What is the maximum amount of loan that can be given under the product
Kishor of Pradhan Mantri MUDRA Yojana?
A) Rs 5,000
B) Rs 50,000
C) Rs 5,00,000
D) Rs 10,00,000
View Answer
Option C
Explanation: Kishor : covering loans above 50,000/- and upto 5 lakh

9. What is the maximum amount of loan that can be given under the product Tarun
of Pradhan Mantri MUDRA Yojana?
A) Rs 5,000
B) Rs 50,000
C) Rs 5,00,000
D) Rs 10,00,000
View Answer
Option D
Explanation: Tarun : covering loans above 5 lakh and upto 10 lakh
10.MUDRA extends a reduction of _____ in its interest rates to MFIs / NBFCs,
who are providing loans to women entrepreneurs.
A) 25bps
B) 50 bps
C) 75 bps
D) 100 bps
View Answer
Option A
Explanation: At present, MUDRA extends a reduction of 25bps in its interest
rates to MFIs / NBFCs, who are providing loans to women entrepreneurs.
1. PMJJBY is a type of ____ ?
A) AD&D Scheme
B) Life Insurance Scheme
C) Pension Scheme
D) Loan Scheme
View Answer
Option B
Explanation: Pradhan Mantri Jeevan Jyoti Beema Yoajan(PMJJBY) is a life
insurance scheme for death due to any reason.
2. What is the minimum and maximum age at which people can enroll in
PMJJBY?
A) 10-70
B) 18-70
C) 10-50
D) 18-50
View Answer
Option D
Explanation: Minimum Age – 18 years ; Maximum Age – 50 years
3. What is the premium per annum that is to be paid under PMJJBY?
A) Rs 12/-
B) Rs 100/-
C) Rs 300/-
D) Rs 330/-
View Answer
Option D
Explanation: Premium for one years is Rs 330 per member
4. What is the Termination period of PMJJBY?
A) When a person attains 70 years of age
B) When a person attains 80 years of age
C) When a person attains 50 years of age
D) None of these
View Answer
Option D
Explanation: The policy is valid till a person attains 55 year of age.
5. What is the death benefit under PMJJBY?
A) Rs 50,000
B) Rs 1,00,000
C) Rs 2,00,000
D) RS 4,00,000
View Answer

Option C
Explanation: Rs.2 lakhs is payable on member’s death due to any reason
6. What is the benefit under PMJJBY for loss/disability for both the organs (either
both hands/legs or eye)?
A) Rs 50,000
B) Rs 1,00,000
C) Rs 2,00,000
D) No such benefit
View Answer
Option D
Explanation: PMJJBY is only a life insurance policy. Disablity is not covered
in it unlike in PMSBY which is a AD&D policy(Accidental Death and
Disability)
7. What maturity amount will a person get in PMJJBY after the policy terminates
when he has attained 55 years?
A) Rs 2,00,000
B) Rs 1,00,000
C) Rs 4,00,000
D) A person will not get any such benefit
View Answer
Option D
Explanation: PMJJBY doesnot gives maturity benefit. If a person is living even
after 55 years of age, the policy will terminate and he/she will not get any
money.
8. A person having which type of account can opt for PMJJBY?
A) Saving Account
B) Current Account
C) Fixed Deposit Account
D) Any one of these
View Answer

Option A
Explanation: For enrolling under PMJJBY, a person must have saving account
with a bank.
9. Under which of the following condition(s) the PMJJBY policy may terminate?
A) On attaining age 55 years
B) Closure of account with the Bank
C) Insufficiency of balance in Account
D) All of the above
View Answer
Option D
10.The coverage period of PMJJBY in a year is ____ ?
A) 1 July to 30 June
B) 1 June to 31 May
C) 1 January to 31 December
D) 1 April to 31 March
View Answer
Option B
1. Atal Pension Yojana is a type of ____?
A) Guaranteed Pension Scheme
B) Self Invested Personal Pension (SIPP)
C) Additional Voluntary Contributions (AVC) Scheme
D) All of the above
View Answer
Option A
2.Who administers Atal Pension Yojana?
A) LIC
B) GIC Re
C) PFRDA
D) IRDAI

View Answer
Option C
Explanation: APY is a guaranteed pension scheme of Government of India and is
administered by the Pension Fund Regulatory and Development Authority
3. Where is the headquarter of PFRDA?
A) Mumbai
B) New Delhi
C) Lucknow
D) Kolkata
View Answer
Option B
Explanation: New Delhi
4. What is the minimum joining age for Atal Pension Yojana?
A) 10 years
B) 18 years
C) 20 years
D) 21 years
View Answer
Option B
5. What is the maximum joining age for Atal Pension Yojana?
A) 40 years
B) 55 years
C) 60 years
D) 70 years
View Answer
Option A
Explanation: The maximum age limit is 40 years
6. What is the minimum pension benefit under APY?
A) Rs 1,000
B) Rs 2,000
C) Rs 3,000
D) Rs 5,000
View Answer
Option A
Explanation: Rs 1,000 per month after the age of 60.
7. What is the maximum pension benefit under APY?
A) Rs 3,000
B) Rs 4,000
C) Rs 5,000
D) Rs 10,000
View Answer
Option C
Explanation: Rs 5,000 per month after the age of 60.
8. Find the false statement with respect to Atal Pension Yojana
A) The contribution amount increases with the age of subscriber
B) Monthly Quarterly and half-yearly mode of contribution is available for
subscribers.
C) NRI can apply for Atal Pension Yojana
D) All are true
View Answer
Option C
Explanation: NRI cannot apply for APY
9. What is the tax benefit under Atal Pension Yojana?
A) Rs 10,000
B) Rs 50,000
C) Rs 1,00,000
D) Rs 2,00,000
View Answer

Option B
Explanation: The tax benefits include the additional deduction of Rs 50,000
under section 80CCD(1). Initially there was no such benefit.
10.Which of the following is necessary to apply for Atal Pension Yojana?
A) Aadhar Card
B) Saving Bank Account
C) Kisan Credit Card
D) Both A and B
View Answer
Option B
1. Which of the following account can be opened in a foreign Currency?
A) FCNR Account
B) NRE Account
C) SNRR Account
D) Both A and C
View Answer
Option A
Explanation: In Foreign Currency (Non-Resident) Account , a person can open
account in any permitted currency i.e. a foreign currency which is freely
convertible.
2. What does S stands for in SNRR Account?
A) Sanction
B) Special
C) Subject
D) Scheme
View Answer
Option B
Explanation: Special Non-Resident Rupee Account (SNRR account)
3. Which of the following account(s) is/are Freely repatriable?
A) NRO
B) NRE
C) FCNR
D) Both B and C
View Answer
Option D
Explanation: FCNR and NRE are fully repatriable.
In case of NRO account: Not repatriable except for all current income.Balances
in an NRO account of NRIs/ PIOs are remittable up to USD 1 (one) million per
financial year (April-March) along with their other eligible assets.
4. Which of the following account(s) can be an example of savings account?
A) FCNR (B) Account
B) NRO
C) NRE
D) Both B and C
View Answer
Option D
Explanation: FCNR is only a fixed deposit account. NRO,NRE can be saving,
current, RD, FD Account.
5. What is the maximum tenor of Term Deposit account in FCNR (B) Account?
A) 1 year
B) 2 years
C) 3 years
D) 5 years
View Answer
Option D
Explanation: 1 year – 5 year
6. In which of the following type of account, loans cannot be given outside India?
A) NRO
B) NRE
C) FCNR

D) Cannot be opened in any
View Answer
Option A
Explanation: Authorised Dealers may allow their branches/ correspondents
outside India to grant loans to or in favour of non-resident depositor or to third
parties at the request of depositor for bona fide purpose against the security of
funds held in the NRE/ FCNR (B) accounts in India, subject to usual margin
requirements. IN NRO such facality is not permitted
7. Interest earned on which of the following accounts is exempted from tax?
A) NRO
B) NRE
C) FCNR
D) Both B and C
View Answer
Option D
8. What does B stands for in FCNR (B) Account?
A) Bid
B) Bond
C) Bank
D) Book
View Answer
Option C
Explanation: Bank
9. What are the accounts that a tourist visiting India can open?
A) NRO
B) NRE
C) FCNR
D) Both A and B
View Answer

Option A
Explanation: An NRO (current/ savings) account can be opened by a foreign
national of non-Indian origin visiting India, with funds remitted from outside
India through banking channel or by sale of foreign exchange brought by him to
India.
10.Opening of accounts by individuals/ entities of Pakistan nationality requires
prior approval of _____.
A) Government of India
B) Reserve bank of India
C) SEBI
D) All of the above.
View Answer
Option B
Explanation: Opening of accounts by individuals/ entities of Pakistan
nationality/ ownership and entities of Bangladesh ownership requires prior
approval of the Reserve Bank.
1. Which of the following bank cannot issue Priority Sector Lending Certificates
(PSLC)?
A) Regional Rural Banks (RRBs)
B) Local Area Banks (LABs)
C) Small Finance Banks
D) Payments Bank
View Answer
Option D
Explanation: Payments Bank cannot buy/sell PSLC.
Scheduled Commercial Banks (SCBs), Regional Rural Banks (RRBs), Local
Area Banks (LABs), Small Finance Banks (when they become operational) and
Urban Co-operative Banks who have originated PSL eligible category loans
subject to such regulations as may be issued by the Bank.
2. PSLCs will be traded through ______ .
A) e-kuber portal
B) Negotiated Dealing System (NDS)
C) TReDS
D) e-BCP
View Answer
Option A
Explanation: The PSLCs will be traded through the CBS portal (e-Kuber) of
RBI.
3. All the issued PSLCs expire on which date of the year?
A) 31 March
B) 1 April
C) 31 December
D) 1 January
View Answer
Option B
Explanation: All PSLCs will be valid till March 31st and will expire on April
1st.
4. How many types of PSLCs are present in the system?
A) 3
B) 4
C) 5
D) 8
View Answer
Option B
Explanation: Four
5. Which of the following is not a valid PSLC?
A) PSLC – Agriculture
B) PSLC – General
C) PSLC – SF/MF
D) PSLC- Special
View Answer

Option D
Explanation: The valid types are:
i) PSLC Agriculture: Counting for achievement towards the total agriculture
lending target.
ii) PSLC SF/MF: Counting for achievement towards the sub-target for lending
to Small and Marginal Farmers.
iii) PSLC Micro Enterprises: Counting for achievement towards the sub target
for lending to Micro Enterprises.
iv) PSLC General: Counting for achievement towards the overall priority sector
target.
6. A bank is permitted to issue PSLCs upto __ percent of previous year’s PSL
achievement?
A) 40%
B) 50%
C) 75%
D) 100%
View Answer
Option B
Explanation: A bank is permitted to issue PSLCs upto 50 percent of previous
year’s PSL achievement.
7. All domestic and foreign banks with at least ____ branches are required to lend
a minimum of ____ per cent of their total to the priority sector.
A) 10, 50
B) 50, 50
C) 20, 40
D) 50, 40
View Answer
Option C
Explanation: All domestic and foreign banks with at least 20 branches are
required to lend a minimum of 40 per cent of their total loans [Adjusted Net
Bank Credit or credit equivalent amount of off-balance sheet exposure
(whichever is higher)] to the priority sector (agriculture, micro enterprises,
education, social housing, etc.). They are also required to meet sub-targets such
as 18 per cent for agriculture (8 per cent for small and marginal farmers), 7.5 per
cent for micro enterprises and 10 per cent for weaker sections.
8. What is a standard lot size of PSLC?
A) Rs 50 lakh
B) Rs 25 lakh
C) Rs 10 lakh
D) Rs 5 lakh
View Answer
Option B
Explanation: The PSLCs would have a standard lot size of Rs. 25 lakh and
multiples thereof.
9. What is the minimum fee prescribed by the RBI, for purchase of any PSLC?
A) 5% of the total PSLC
B) 2% of the total PSLC
C) 1% of the total PSLC
D) No such limit
View Answer
Option D
Explanation: The premium will be completely market determined. No floor/
ceiling has been prescribed by RBI in this regard.
10.Identify the false statement.
A) There are four types of PSLC.
B) Urban Co-operative Banks can issue PSLC
C) A PSLC will expire after 2 years of the date of issue
D) The PSLCs will be traded through the CBS portal (e-Kuber) of RBI.
View Answer
Option C
Explanation: The duration of the PSLCs will depend on the date of issue with
all PSLCs being valid till March 31st and expiring on April 1st.

1. The Reserve Bank of India was established on ______ ?
A) April 1, 1934
B) June 1, 1935
C) April 1, 1935
D) July 1, 1934
View Answer
Option C
Explanation: The Reserve Bank of India was established on April 1, 1935 in
accordance with the provisions of the Reserve Bank of India Act, 1934.
2. In which year was Reserve Bank of India nationalized?
A) 1935
B) 1940
C) 1945
D) 1949
View Answer
Option
Explanation: The Reserve Bank of India was nationalised with effect from 1st
January, 1949 on the basis of the Reserve Bank of India (Transfer to Public
Ownership) Act, 1948. All shares in the capital of the Bank were deemed
transferred to the Central Government on payment of a suitable compensation.
3. How many Regional offices does Reserve Bank of India has?
A) 15
B) 16
C) 17
D) 19
View Answer
Option D
Explanation: RBI has 19 regional offices, most of them in state capitals and 9
Sub-offices. [*data as on March 24, 2017]
4. How many Banking Ombudsman Office does RBI has in total in India?
A) 15
B) 17
C) 18
D) 20
View Answer
Option D
Explanation: There are 20 Banking Ombudsman offices of RBI in India. [*data
as on May 25, 2017]
5. Which of the following is not a fully owned subsidiary of Reserve Bank of
India?
A) DICGC
B) NABARD
C) NHB
D) BRBNMPL
View Answer
Option B
Explanation: RBI holds only 0.40% stake in NABARD, while the rest is with
Government of India.
6. The Reserve Bank of India was set up on the basis of the recommendations of
_____
A) Chatalier Committee
B) James Raj Committee
C) Pendarkar Committee
D) Hilton-Young Commission
View Answer
Option D
Explanation: The Reserve Bank of India was set up on the basis of the
recommendations of the Royal Commission on Indian Currency and Finance
also known as the Hilton-Young Commission.
7. The Reserve Bank of India performs Financial Supervision under the guidance
of __________
A) Finance Ministry
B) Board for Financial Supervision (BFS)
C) Board for Payment and Settlement Systems
D) All of these
View Answer
Option B
Explanation: The Reserve Bank of India performs Financial Supervision
function under the guidance of the Board for Financial Supervision (BFS). The
Board was constituted in November 1994 as a committee of the Central Board
of Directors of the Reserve Bank of India.
8. At any time RBI can have atmost ____ deputy governor.
A) 3
B) 4
C) 5
D) 6
View Answer
Option B
Explanation: Four
9. The present governor of RBI i.e Urjit Patel is the ___ Governor of RBI.
A) 22nd
B) 23rd
C) 24th
D) 25th
View Answer
Option C
10.The headquarter of Reserve Bank of India was shifted from Calcutta to Mumbai
in which year?
A) 1936
B) 1937
C) 1945
D) 1949

View Answer
Option B
Explanation: The Central Office of the Reserve Bank was initially established
in Calcutta but was permanently moved to Mumbai in 1937. The Central Office
is where the Governor sits and where policies are formulated.
1. Who was the head of the committee constituted to examine issues related to
effective functioning of EXIM bank and ECGC?
A) AK Sinha
B) M Veerappa Moily
C) Ashok Lavasa
D) K S Valdiya
View Answer
Option C
Explanation: Ashok Lavasa
2. The merger of Railway Budget with General Budget is based on the
recommendations of the Committee headed by ________ ?
A) M Veerappa Moily
B) Shri Bibek Debroy
C) A K Sinha
D) TVSN Prasad
View Answer
Option B
Explanation: Shri Bibek Debroy
3. Who was the head of the committee formed for recalibration of ATM machines
after demonitisation drive?
A) Ashok Lavasa
B) A R Dave
C) Mohandas Pai
D) S.S Mundra
View Answer

Option D
Explanation: S.S Mundra
4. Who is the head of the committee formed to transform India into cashless
economy?
A) S.S Mundra
B) Uday Kotak
C) N. Chandrababu Naidu
D) Amitabh Kant
View Answer
Option D
Explanation: Amitabh Kant
5. Who is the head of the inter-disciplinary panel on cyber security formed by
Reserve Bank of India?
A) Nachiket Mor
B) Meena Hemachandra
C) Bharat Narotam Doshi
D) Rajiv Kumar
View Answer
Option B
Explanation: Meena Hemachandra
6. Who is the head of the Inter-Departmental Task Force formed by government to
Crack Down Benami Firms?
A) Afzal Amanullah
B) Hasmukh Adhia
C) Pritam Singh
D) N. Chandrababu Naidu
View Answer
Option B
Explanation: Hasmukh Adhia

7. Who is the head of the advisory committee on service providers formed by
Insolvency and Bankruptcy Board of India (IBBI)?
A) Uday Kotak
B) Amitabh Kant
C) Mohandas Pai
D) Pritam Singh
View Answer
Option C
Explanation: Mohandas Pai
8. Who is the head of the panel on corporate insolvency and liquidation formed by
Insolvency and Bankruptcy Board of India (IBBI)?
A) Uday Kotak
B) Amitabh Kant
C) Mohandas Pai
D) Pritam Singh
View Answer
Option A
Explanation: Uday Kotak
9. Who is the head of the committee formed to summon Reserve Bank Governor
Urjit Patel again to explain how much of the junked currency has been deposited
in banks post note ban and the progress made in remonetisation?
A) Shaktikanta Das
B) Anjuly Chib
C) M Veerappa Moily
D) Amitabh Kant
View Answer
Option C
Explanation: M Veerappa Moily
10.Who was the head of the Public Accounts Committee (PAC) formed for probing
the government’s decision to scrap high-value bank notes?
A) Amitabh Kant
B) K.V. Thomas
C) Shaktikanta Das
D) N. Chandrababu Naidu
View Answer
Option B
Explanation: K.V. Thomas
1. Who regulates Banking and Financial sector in India?
A) SEBI
B) RBI
C) SBI
D) NHB
View Answer
Option B
2. Who regulates commodity market in India?
A) RBI
B) IRDAI
C) SEBI
D) SIDBI
View Answer
Option C
3. Who regulates credit rating agencies in India?
A) SEBI
B) RBI
C) CRISIL
D) CIBIL
View Answer
Option A

4. Who regulates Insurance sector in India?
A) LIC
B) GIC-Re
C) IRDAI
D) NABARD
View Answer
Option C
5. Who regulates Pension sector in India?
A) IRDAI
B) PFRDA
C) RBI
D) Both B and C
View Answer
Option B
6. Who regulates rural sector financing in India?
A) RRB
B) RBI
C) NABARD
D) SIDBI
View Answer
Option C
7. Who regulates financing Micro Small and Medium Scale Enterprises in India?
A) NABARD
B) NHB
C) RBI
D) SIDBI
View Answer
Option D

8. Who regulates housing finance in India?
A) NHB
B) SIDBI
C) NABARD
D) RBI
View Answer
Option A
9. Who regulates money market in India?
A) SEBI
B) NABARD
C) Ministry of Finance
D) RBI
View Answer
Option D
10.Who regulates Mutual Funds in India?
A) RBI
B) SEBI
D) None of these
View Answer
Option B
1. Which of the following bank is the sponsor bank of Andhra Pradesh Grameena
Vikas Bank?
A) Andhra Bank
B) Central Bank of India
C) State Bank of India
D) Dena Bank
View Answer

Option C
Explanation: State Bank of India-
Andhra Pradesh
2. Which of the following bank is the sponsor bank of Allahabad UP Gramin

Bank?
A) United Bank of India
B) State Bank of India
C) Central Bank of India
D) Allahabad Bank
View Answer
Option D
Explanation: Allahabad Bank
Uttar Pradesh
3. Which of the following bank is the sponsor bank of Andhra Pragathi Grameena
Bank?
A) Syndicate Bank
B) Andhra Bank
D) Dena Bank
View Answer
Option A
Explanation: Syndicate Bank
Andhra Pradesh
4. Which of the following bank is the sponsor bank of Arunachal Pradesh Rural
Bank?
A) UCO Bank
B) Central Bank of India
D) Dena Bank

View Answer
Option C
Explanation: State Bank of India
Arunachal Pradesh
5. Which of the following bank is the sponsor bank of Assam Gramin Vikash
Bank?
A) Bank of Baroda
B) UCO Bank
D) United Bank of India
View Answer
Option D
Explanation: United Bank of India
Assam
6. Which of the following bank is the sponsor bank of Bangiya Gramin Vikash
Bank?
A) Bank of Baroda
B) United Bank of India
C) UCO Bank
D) Central Bank of India
View Answer
Option B
West Bengal
7. Which of the following bank is the sponsor bank of Baroda Gujarat Gramin
Bank?
A) Bank of Baroda
C) UCO Bank

View Answer
Option A
Explanation: Bank of Baroda
Gujarat
8. Which of the following bank is the sponsor bank of Baroda Rajasthan Kshetriya
Gramin Bank?
A) Indian Overseas Bank
B) UCO Bank
C) Bank of Baroda
View Answer
Option C
Rajasthan
9. Which of the following bank is the sponsor bank of Baroda UP Gramin Bank?
A) Central Bank of India
B) UCO Bank
C) Indian Overseas Bank
D) Bank of Baroda
View Answer
Option D
Uttar Pradesh
10.Which of the following bank is the sponsor bank of Bihar Gramin Bank?
A) Central Bank of India
B) UCO Bank
C) Indian Overseas Bank
D) Bank of Baroda
View Answer
Option B
Explanation: UCO Bank
Bihar
1. Which of the following bank is the sponsor bank ofCentral Madhya Pradesh
Gramin Bank?
A)State Bank of India
B)Andhra Bank
C)Central Bank of India
D) UCO Bank
View Answer
Option C
Explanation:Central Bank of India
Madhya Pradesh
2. Which of the following bank is the sponsor bank ofChaitanya Godavari
Grameena Bank?
A) State Bank of India
B) Andhra Bank
D) UCO Bank
View Answer
Option B
Explanation:Andhra Bank
Andhra Pradesh
3. Which of the following bank is the sponsor bank ofChhattisgarh RajyaGramin
Bank?
B) Andhra Bank
D) UCO Bank
View Answer

Option A
Explanation:State Bank of India
Chhattisgarh
4. Which of the following bank is the sponsor bank ofDena Gujarat Gramin Bank?
A)Dena Bank
B)State Bank of India
C) United Bank of India
D) Bank of India
View Answer
Option A
Explanation:Dena Bank
Gujarat
5. Which of the following bank is the sponsor bank ofEllaquaiDehati Bank?
A) Dena Bank
D) Bank of India
View Answer
Option B
Explanation:State Bank of India
Jammu & Kashmir
6. Which of the following bank is the sponsor bank ofGramin Bank of Aryavart?
A) Dena Bank
D) Bank of India
View Answer
Option D
Explanation:Bank of India
Uttar Pradesh
7. Which of the following bank is the sponsor bank ofHimachal Pradesh Gramin
Bank?
A)Bank of India
B)Punjab National Bank
C)State Bank of India
D)CanaraBank
View Answer
Option B
Explanation:Punjab National Bank
Himachal Pradesh
8. Which of the following bank is the sponsor bank ofJ&K Grameen Bank?
A) Bank of India
B) Punjab National Bank
D) J&K Bank Ltd.
View Answer
Option D
Explanation:J&K Bank Ltd.
Jammu & Kashmir
9. Which of the following bank is the sponsor bank ofJharkhand Gramin Bank?
A) Bank of India
D) CanaraBank
View Answer
Option A
Explanation:Bank of India
Jharkhand
10.Which of the following bank is the sponsor bank ofKarnataka VikasGrameena
Bank?
A)Canara Bank
B)Syndicate Bank
C)Union Bank of India
D) Bank of India
View Answer

Option B
Explanation:Syndicate Bank
Karnataka
1. Which of the following bank is the sponsor bank of Kashi Gomti Samyut
Gramin Bank?
A) Union Bank of India
C) Syndicate Bank
D) Punjab National Bank
View Answer
Option A
Explanation: Union Bank of India
Uttar Pradesh
2. Which of the following bank is the sponsor bank of Kerala Gramin Bank?
C) Canara Bank
View Answer
Option C
Explanation: Canara Bank
Kerala
3. Which of the following bank is the sponsor bank of Langpi Dehangi Rural
Bank?
C) Canara Bank
View Answer

Option B
Assam
4. Which of the following bank is the sponsor bank of Madhyanchal Gramin
Bank?
C) Canara Bank
View Answer
Option B
Madhya Pradesh
5. Which of the following bank is the sponsor bank of Madhya Bihar Gramin
Bank?
C) Canara Bank
View Answer
Option D
Explanation: Punjab National Bank
Bihar
6. Which of the following bank is the sponsor bank of Maharashtra Gramin Bank?
A) Indian Overseas Bank
B) Indian Bank
C) Bank of Maharashtra
D) Canara Bank
View Answer

Option C
Explanation: Bank of Maharashtra
Maharashtra
7. Which of the following bank is the sponsor bank of Manipur Rural Bank?
D) Canara Bank
View Answer
Option B
Manipur
8. Which of the following bank is the sponsor bank of Meghalaya Rural Bank?
D) Canara Bank
View Answer
Option C
Meghalaya
9. Which of the following bank is the sponsor bank of Mizoram Rural Bank?
D) Canara Bank
View Answer
Option C
Mizoram

10.Which of the following bank is the sponsor bank of Nagaland Rural Bank?
D) Canara Bank
View Answer
Option C
Nagaland
1. Resident individuals/professionals with ________ of experience in banking and
finance will be eligible to set up small finance banks.
A) 5 years
B) 10 years
C) 15 years
D) 20 years
View Answer
Option B
Explanation: Resident individuals/professionals with 10 years of experience in
banking and finance; and companies and societies owned and controlled by
residents will be eligible to set up small finance banks. Existing Non-Banking
Finance Companies (NBFCs), Micro Finance Institutions (MFIs), and Local
Area Banks (LABs) that are owned and controlled by residents can also opt for
conversion into small finance banks.
2. What is the minimum paid-up equity capital for small finance banks?
A) Rs 100 crore
B) Rs 500 crore
C) Rs 800 crore
D) Rs 1,000 crore
View Answer
Option A
Explanation: The minimum paid-up equity capital for small finance banks shall
be Rs. 100 crore.

3. The promoter’s minimum initial contribution to the paid-up equity capital of
small finance bank shall at least be 40 per cent and gradually brought down to
_______ within 12 years from the date of commencement of business of the
bank.
A) 10 per cent
B) 16 per cent
C) 20 per cent
D) 26 per cent
View Answer
Option D
Explanation: The promoter’s minimum initial contribution to the paid-up
equity capital of such small finance bank shall at least be 40 per cent and
gradually brought down to 26 per cent within 12 years from the date of
commencement of business of the bank.
4. Small Finance Banks will have to extend what per cent of its credit to sectors
classified under priority sector lending (PSL)?
A) 26%
B) 40%
C) 75%
D) 65%
View Answer
Option C
Explanation: The small finance banks will be required to extend 75 per cent of
its Adjusted Net Bank Credit (ANBC) to the sectors eligible for classification as
priority sector lending (PSL) by the Reserve Bank.
5. At least ________ of the loan portfolio of Small Finance Banks should
constitute loans and advances of upto Rs. 25 lakh.
A) 25 per cent
B) 50 per cent
C) 60 per cent
D) 75 per cent
View Answer

Option B
Explanation: At least 50 per cent of its loan portfolio should constitute loans
and advances of upto Rs. 25 lakh.
6. The decision to issue an in-principle approval for setting up of a Small Finance
bank will be taken by _____
A) Finance Ministry
B) CBDT
C) RBI
D) SEBI in consultation with RBI
View Answer
Option C
Explanation: The decision to issue an in-principle approval for setting up of a
bank will be taken by the Reserve Bank. The Reserve Bank’s decision in this
regard will be final.
7. The in-principle approval for small finance banks given by RBI will remain
valid for how many months?
A) 12 months
B) 15 months
C) 18 months
D) 24 months
View Answer
Option C
Explanation: The validity of the in-principle approval issued by the Reserve
Bank will be eighteen months.
8. What is the Minimum Capital Requirement for Small Finance Banks under the
Capital adequacy framework?
A) 5%
B) 10%
C) 15%
D) 20%
View Answer
Option C
Explanation: Minimum Capital Requirement : 15%

9. Identify the true statement about Small Finance Bank(SFB).
A) SFBs are not required to maintain CRR
B) SFBs cannot carry out lending activity
C) SFBs will be covered by the Banking Ombudsman (BO) Scheme.
D) SFBs can carry out all para-banking activity.
View Answer
Option C
Explanation: SFB has to maintain CRR and SLR, SFB can lend. SFBs will not
be permitted to undertake any para-banking activity except that allowed as per
the Licensing Guidelines and the related FAQs issued.
10.SFBs will be permitted to use IRF for the purpose of proprietary hedging. What
does F stands for in IRF?
A) Forwards
B) Funding
C) Futures
D) Focus
View Answer
Option C
Explanation: IRF- Interest Rate Futures
1. What is the present Rate of Interest in Kisan Vikas Patra (KVP)?
A) 7.7%
B) 7.6%
C) 7.5%
D) 7.4%
View Answer
Option C
Explanation: 7.5%
2. The amount invested in Kisan Vikas Patra will mature in how many months?
A) 110 months
B) 112 months
C) 115 months
D) 114 months

View Answer
Option C
3. What is the minimum deposit under Kisan Vikas Patra?
A) Rs 1000
B) Rs 500
C) Rs 5,000
D) No such limit
View Answer
Option A
Explanation: Rs 1,000
4. What is the maximum deposit limit under Kisan Vikas Patra?
A) Rs 1,00,000
B) Rs 5,00,000
C) Rs 10,00,000
D) No Such Limit
View Answer
Option D
Explanation: There is no upper limit
5. What is the present rate of interest in Public Provident Fund Account?
A) 8.0%
B) 7.9%
C) 7.8%
D) 8.65%
View Answer
Option C
6. What is the minimum deposit allowed in Public Provident Fund Account in a

financial year?
A) Rs 500
B) Rs 1000
C) Rs 5000
D) No such limit
View Answer
Option A
Explanation: Rs 500
7. What is the maximum deposit allowed in Public Provident Fund Account in a
financial year?
A) Rs 1,00,000
B) Rs 1,50,000
C) Rs 2,00,000
D) Rs 10,00,000
View Answer
Option B
Explanation: INR. 1,50,000/- in a financial year
8. What is the rate of Interest for National Savings Certificates (NSC)?
A) 7.6%
B) 7.7%
C) 7.8%
D) 8.0%
View Answer
Option C
9. What is the minimum deposit under National Savings Certificates (NSC)?
A) Rs 100
B) Rs 500
C) Rs 1,000
D) Rs 5,000
View Answer
Option A
Explanation: Rs 100
10.What is the maximum deposit under National Savings Certificates (NSC)?
A) Rs 1,00,000
B) Rs 1,50,000
C) Rs 2,00,000
D) No such limit
View Answer
Option D
Explanation: No such limit
1. What is the interest payable in Senior Citizen Savings Scheme (SCSS) Account?
A) 8.5%
B) 8.4%
C) 8.3%
D) 8.2%
View Answer
Option C
2. What is the minimum deposit required under Senior Citizen Savings Scheme
(SCSS) Account?
A) Rs 500
B) Rs 1,000
C) Rs 5,000
D) Rs 10,000
View Answer
Option B
3. What is the maximum deposit allowed under Senior Citizen Savings Scheme
(SCSS) Account?
A) Rs 5 lakh
B) Rs 10 lakh
C) Rs 15 lakh
D) Rs 20 lakh

View Answer
Option C
Explanation: Rs 15 lakh
4. What is the minimum maturity period of Senior Citizen Savings Scheme (SCSS)
Account?
A) 3 years
B) 5 years
C) 8 years
D) 10 years
View Answer
Option B
Explanation: Maturity period is 5 years. After maturity, the account can be
extended for further three years within one year of the maturity
5. Deposit above what amount cannot be made in cash under Senior Citizen
Savings Scheme (SCSS) Account?
A) Rs 50,000
B) Rs 1,00,000
C) Rs 1,50,000
D) Rs 2,00,000
View Answer
Option B
Explanation: Account can be opened by cash for the amount below INR 1 lakh
and for INR 1 Lakh and above by cheque only.
6. What is the interest rate under Sukanya Samriddhi Accounts?
A) 8.0 %
B) 8.1 %
C) 8.3 %
D) 8.4 %
View Answer

Option C
7. What is the minimum deposit required under Sukanya Samriddhi Scheme

Accounts in a financial year?
A) Rs 500
B) Rs 1,000
C) Rs 5,000
D) Rs 10,000
View Answer
Option B
8. What is the maximum deposit allowed under Sukanya Samriddhi Scheme
Accounts in a financial year?
A) Rs 1,00,000
B) Rs 1,50,000
C) Rs 2,00,000
D) Rs 10,00,000
View Answer
Option B
Explanation: INR. 1,50,000/- in a financial year.
9. Sukanya Samriddhi Accounts cannot be opened for a girl child with age greater
than ____ .
A) 5 years
B) 6 years
C) 8 years
D) 10 years
View Answer
Option D

10.Under Sukanya Samriddhi Account Scheme partial withdrawal, maximum up to
50% of balance standing at the end of the preceding financial year can be taken
after Account holder’s attaining age of ______
A) 10 years
B) 15 years
C) 16 years
D) 18 years
View Answer
Option D
1. The government had extended time for making deposits under Pradhan Mantri
Garib Kalyan Yojana (PMGKY) till which date?
A) May 10, 2017
B) April 30, 2017
C) June 30, 2017
D) July 1, 2017
View Answer
Option B
Explanation: the government had extended time for making deposits till April
30 for those who have paid their tax, surcharge and penalty under the
compliance window on or before March 31
2. The government had extended time for filing declarations under Pradhan Mantri
Garib Kalyan Yojana (PMGKY) till which date?
A) May 10, 2017
B) April 30, 2017
C) June 30, 2017
D) April 10, 2017
View Answer
Option A
Explanation: May 10 to those who paid the tax, surcharge and penalty under
the scheme, which closed on March 31

3. The deposits made in Pradhan Mantri Garib Kalyan Yojana (PMGKY) shall be
held in _________ maintained with Reserve Bank of India.
A) Saving Account
B) Bond Ledger Accounts (BLA)
C) CASA
D) Reserved Account
View Answer
Option B
Explanation: Bond Ledger Accounts (BLA)
4. Which of the following banks cannot accept deposits under Pradhan Mantri
Garib Kalyan Yojana (PMGKY)?
I. Public Sector Banks
II. Private Sector Bank
III. Co-operative Banks
A) Only II
B) Only I
C) Only III
D) Both II and III
View Answer
Option C
Explanation: Application and amount for the deposit (in the form of Bond
Ledger Account) shall be received by any banking company, other than Co-
operative Banks
5. What is the minimum limit for depositing in the Pradhan Mantri Garib Kalyan
Yojana (PMGKY)?
A) 30 % of the undisclosed income
B) 25 % of the undisclosed income
C) 33 % of the undisclosed income
D) 49.9 % of the undisclosed income
View Answer

Option B
Explanation: The deposit by a declarant shall not be less than twenty-five per
cent of the undisclosed income declared
6. The deposit made under Pradhan Mantri Garib Kalyan Yojana (PMGKY)
should be in the multiples of ?
A) Rs 100
B) Rs 500
C) Rs 1000
D) Rs 2000
View Answer
Option A
Explanation: Deposit shall be made in multiples of Rs 100.
7. What interest rate will be paid on the deposit under the Pradhan Mantri Garib
Kalyan Yojana (PMGKY)?
A) 0%
B) 4%
C) 6%
D) Same as Repo Rate
View Answer
Option A
Explanation: No interest shall be paid for deposits made in this scheme.
8. What is the lock-in period of Pradhan Mantri Garib Kalyan Yojana (PMGKY)?
A) 2 years
B) 3 years
C) 4 years
D) 5 years
View Answer
Option C
Explanation: This deposit scheme has a lock-in period of four years, and the
scheme shall not pay interest on the amount deposited.

9. After how many years the deposit made under Pradhan Mantri Garib Kalyan
Yojana (PMGKY) be prematurely redeemed?
A) 1 years
B) 2 years
C) 3 years
D) Premature Redemption not allowed
View Answer
Option D
Explanation: Option for premature redemption of the BLA is not available.
10.What is the total tax to be paid of the declared undisclosed income under the
Pradhan Mantri Garib Kalyan Yojana (PMGKY) including surcharge and
penalty?
A) 30%
B) 33%
C) 49.5%
D) 49.9%
View Answer
Option D
Explanation: Tax=30%; Surcharge=33%; Penalty= 10%=> Totaling to 49.9%
11.A person a person who does not opt for the PMGKY scheme but offers his black
income in his Income Tax Returns will face a tax and penalty rate of ______ per
cent.
A) 77.25
B) 137.25
C) 83.25
D) 107.25
View Answer
Option A
Explanation: a person who does not opt for the scheme but offers his black
income in his Income Tax Returns will face a tax and penalty rate of 77.25 per
cent.

12.The one who does not offer his stash funds(fund under PMGKY) under the
scheme but is caught with undisclosed income in scrutiny assessment will face
____ per cent tax rate.
A) 77.25
B) 137.25
C) 83.25
D) 107.25
View Answer
Option C
Explanation: The one who does not offer his stash funds under the scheme but
is caught with undisclosed income in scrutiny assessment will face 83.25 per
cent tax rate.
13.For those who do not declare their stash under the PMGKY and are raided will
face 107.25 per cent tax and penalty if the undisclosed income is surrendered
during the action.
A) 77.25
B) 137.25
C) 83.25
D) 107.25
View Answer
Option D
Explanation: For those who do not declare their stash under the PMGKY and
are raided will face 107.25 per cent tax and penalty if the undisclosed income is
surrendered during the action.
14.People who do not surrender the hidden income even during searches will stand
to face the highest level of penalty and tax at 137.25 per cent.
A) 77.25
B) 137.25
C) 150
D) 175
View Answer

Option B
Explanation: Those who do not surrender such hidden income even during
searches will stand to face the highest level of penalty and tax at 137.25 per
cent.
15.Identify the true statements:
I. Under Income Declaration Scheme, a person first declared the income and
then paid the penalty tax
II. Under Income Declaration Scheme, a person first paid the tax and then
declared the income.
III. Under PMGKY, a person first paid the tax and then declares the income.
IV. Under PMGKY, a person first declares the income and then pays the tax
A) Both II and IV
B) Both II and III
C) Both I and IV
D) Both I and III
View Answer
Option B
Explanation: Both II and III are true.
1. The ATM that is present within the premises of its bank is called?
A) On-site ATM
B) Off-site ATM
C) In-Premises ATM
D) In-Line ATM
View Answer
Option A
Explanation: Such ATMs that are present within the premises of the bank are
called On-Site ATMs
2. The ATMs that are not located within the premises of the bank and are located
at some different place are known as?
A) On-site ATM
B) Off-site ATM
C) In-Premises ATM

D) Off-Line ATM
View Answer
Option B
Explanation: Off-site ATM
3. A _____ is an ATM, located within the premises of an organisation and is
generally meant only for the employees of the organization.
A) On-site ATM
B) Off-site ATM
C) Worksite ATM
D) Off-Line ATM
View Answer
Option C
Explanation: Worksite ATM
4. ________ refers to an ATM that moves in various areas for the customers.
A) On-site ATM
B) Off-site ATM
C) Mobile ATM
D) Cash Dispenser
View Answer
Option C
Explanation: Mobile ATM
5. ATMs set up, owned and operated by non-banks are called _______.
A) Brown Label ATM
B) White Label ATM
C) Pink Label ATM
D) Blue Label ATM
View Answer
Option B
Explanation: ATMs set up, owned and operated by non-banks are called White
Label ATMs. In White Label ATM scenario, logo displayed on ATM machine
and in ATM premises pertain to WLA Operator instead of a bank.
6. An ATM in which cash management and connectivity to banking networks is
provided by a sponsor bank is known as?
A) Brown Label ATM
B) White Label ATM
C) Pink Label ATM
D) Blue Label ATM
View Answer
Option A
Explanation: Brown Label ATM are those Automated Teller Machines where
hardware and the lease of the ATM machine is owned by a service provider–but
cash management and connectivity to banking networks is provided by a
sponsor bank .
7. Which of the following ATM is provided for Agricultural Transaction?
A) Pink Label ATM
B) Orange Label ATM
C) Yellow Label ATM
D) Green Label ATM
View Answer
Option D
Explanation: Green Label ATM
8. Which of the following type of ATM is exclusively for women?
A) Pink Label ATM
B) Orange Label ATM
C) Yellow Label ATM
D) Green Label ATM
View Answer
Option A
Explanation: Pink Label ATM. Such ATM are monitored by guards who

ensure that only women access these ATM. The sole purpose of such ATM is to
mitigate the problem of women standing in long queues of ATM
9. The ATM that is connected to the database of the banks all the time is known
as?
A) On-site ATM
B) Off-site ATM
C) On-Line ATM
D) Off-Line ATM
View Answer
Option C
Explanation:
10.The ATMs which uses security features like fingerprint scanner and eye scanner
of the customer to access the bank details are called?
A) Micro ATM
B) Biometric ATM
C) Mini ATM
D) Domain ATM
View Answer
Option B
Explanation: Biometric ATM
1. Which of the following facility is available at White Label ATM?
A) Cash Deposit
B) Regular Bills Payment
C) Purchase of Re-load Vouchers for Mobiles
D) PIN change
View Answer
Option D
Explanation: Options available at ATMS
Account Information
Cash Deposit (Acceptance of deposits are not permitted at WLAs)
Regular Bills Payment (not permitted at WLAs)
Purchase of Re-load Vouchers for Mobiles (not permitted at WLAs)
Mini/Short Statement
PIN change
Request for Cheque Book
2. Which of the following authentication method is used in ATMs?
A) 2FA
B) PIN
C) DFA
D) PFA
View Answer
Option B
Explanation: For transacting at an ATM/WLA, the customer inserts /swipes
his/her Card in the ATM/WLA and enters his/her Personal Identification
Number (PIN).
3. What is the minimum free transactions that bank has to allow to its customers
for using the bank’s own ATMs at any location?
A) 3
B) 4
C) 5
D) 6
View Answer
Option C
Explanation: Transactions at a bank’s own ATMs at any location: Banks must
offer their savings bank account holders a minimum of five free transactions
(including both financial and non-financial) in a month, irrespective of the
location of ATMs. *RBI has mandated only the minimum number of free
transactions at ATMs. Banks may offer more number of transactions free of cost
to their customers.
4. In the six metro locations a bank has to provide minimum of how many free
transactions to customers of other bank at its ATM?
A) 3
B) 4
C) 5
D) 6
View Answer
Option A
Explanation: Transactions at any other banks’ ATMs at Metro locations:In case
of ATMs located in six metro locations, viz. Mumbai, New Delhi, Chennai,
Kolkata, Bengaluru and Hyderabad, banks must offer their savings bank account
holders a minimum of three free transactions (including both financial and non-
financial transactions) in a month. * RBI has mandated only the minimum
number of free transactions at ATMs. Banks may offer more number of
transactions free of cost to their customers.
5. In non-metro locations a bank has to provide minimum of how many free
transactions to customers of other bank at its ATM?
A) 3
B) 4
C) 5
D) 6
View Answer
Option C
Explanation: Transactions at any other banks’ ATMs at Non-Metro locations:
At other locations, banks must offer the savings bank account holders a
minimum of five free transactions (including both financial and non-financial
transactions) in a month at other bank ATMs. So even a balance enquiry will be
counted as a transaction. * RBI has mandated only the minimum number of free
transactions at ATMs. Banks may offer more number of transactions free of cost
to their customers.
6. What steps should a customer take in case of failed ATM transaction at other
bank/white label ATMs, when his / her account is debited?
A) Inform the banking ombudsman of his area.
B) Inform the manager of the sponsor bank
C) Inform the security guard of the ATM
D) Inform the card issuing bank
View Answer
Option D
Explanation: The customer should lodge a complaint with the card issuing bank
at the earliest. This process is applicable even if the transaction was carried out
at another bank’s/non-bank’s ATM.
7. What is the time limit for the card issuing banks for re-crediting the customers
account for a failed ATM/WLA transaction?
A) 6 working days
B) 7 working days
C) 21 working days
D) 30 working days
View Answer
Option B
Explanation: As per the RBI instructions, banks have been mandated to resolve
customer complaints by re-crediting the customer’s account within 7 working
days from the date of complaint.
8. If a bank fails to resolve the re-crediting issue of failed ATM transaction within
7 days of complain then what amount of penalty per day the bank has to pay to
the customer?
A) Rs 100
B) Rs 50
C) 10% of the debited amount
D) Rs 500
View Answer
Option A
Explanation: Effective from July 1, 2011, banks have to pay compensation of
Rs. 100/- per day for delays in re-crediting the amount beyond 7 working days
from the date of receipt of complaint for failed ATM transactions.
9. What is the limit after which a customer cannot lodge a complaint for failed
ATM transaction?
A) 10 days
B) 30 days
C) 60 days

D) No such limit
View Answer
Option D
Explanation: There is no such limit, however after 30 days if a customer lodges
the complaint then he will not be entitled the penalty amount of Rs 100 even if
the bank delays the re-credit for 7 days.
10.What does O stands for in WLAO?
A) Organiser
B) Operator
C) Ordinary
D) Ordinance
View Answer
Option B
Explanation: White Label ATM Operator (WLAO)
1. Which of the following category does not comes under priority sector?
A) Micro, Small and Medium Enterprises
B) Export Credit
C) Social Infrastructure
D) All come under priority sector
View Answer
Option D
Explanation: Priority Sector includes the following categories:
(i) Agriculture
(ii) Micro, Small and Medium Enterprises
(iii) Export Credit
(iv) Education
(v) Housing
(vi) Social Infrastructure
(vii) Renewable Energy
(viii) Others

2. Foreign banks with 20 branches and above have to achieve the Total Priority
Sector Target by a maximum of ?
A) March 31, 2020
B) March 31, 2019
C) March 31, 2018
D) March 31, 2021
View Answer
Option C
Explanation: Foreign banks with 20 branches and above have to achieve the
Total Priority Sector Target within a maximum period of five years starting
from April 1, 2013 and ending on March 31, 2018 as per the action plans
submitted by them and approved by RBI.
While for foreign banks with less than 20 branches to be achieved in a phased
manner by 2020 .
3. Which of the following is not the sub-category under Agriculture in Priority
Sector Lending?
A) Farm credit
B) Storehouse Infrastructure
C) Agriculture infrastructure
D) Ancillary activities
View Answer
Option B
Explanation: The activities covered under Agriculture are classified under three
sub-categories viz. Farm credit, Agriculture infrastructure and Ancillary
activities.
4. Bank loans up to _____ to Micro and Small Enterprises are eligible for
classification under priority sector.
A) Rs 5 crore
B) Rs 10 crore
C) Rs 15 crore
D) Rs 20 crore
View Answer
Option A
Explanation: Rs 5 crore
5. Bank loans up to _____ to Medium Enterprisesare eligible for classification
under priority sector.
A) Rs 5 crore
B) Rs 10 crore
C) Rs 15 crore
D) Rs 20 crore
View Answer
Option B
Explanation: Bank loans up to ₹ 5 crore per unit to Micro and Small
Enterprises and ₹ 10 crore to Medium Enterprises engaged in providing or
rendering of services and defined in terms of investment in equipment under
MSMED Act, 2006 are eligible for classification under priority sector.
6. What is the applicable limit for social infrastructure loans under priority sector?
A) Rs 1 crore
B) Rs 2 crore
C) Rs 4 crore
D) Rs 5 crore
View Answer
Option D
Explanation: Bank loans up to a limit of ₹ 5 crore per borrower for building
social infrastructure for activities namely schools, health care facilities, drinking
water facilities and sanitation facilities (including loans for construction/
refurbishment of toilets and improvement in water facilities in the household) in
Tier II to Tier VI centres are eligible for classification under priority sector.
7. What is the applicable limit for renewable energy loans under priority sector?
A) Rs 5 crore
B) Rs 10 crore
C) Rs 15 crore
D) Rs 20 crore

View Answer
Option C
Explanation: Bank loans up to a limit of ₹ 15 crore to borrowers for purposes
like solar based power generators, biomass based power generators, wind mills,
micro-hydel plants and for non-conventional energy based public utilities viz.
street lighting systems, and remote village electrification are eligible to be
classified under priority sector loans under ‘Renewable Energy’. For individual
households, the loan limit is ₹ 10 lakh per borrower.
8. What is the loan limit for education under priority sector?
A) Rs 5 lakh
B) Rs 10 lakh
C) Rs 15 lakh
D) Rs 20 lakh
View Answer
Option B
Explanation: Loans to individuals for educational purposes including
vocational courses upto ₹ 10 lakh irrespective of the sanctioned amount are
eligible for classification under priority sector.
9. What is the limit for housing loans in metropolitan centers under priority sector?
A) Rs 15 lakh
B) Rs 20 lakh
C) Rs 28 Lakh
D) Rs 35 lakh
View Answer
Option C
Explanation: Rs 28 Lakh
10.What is the limit for housing loans in non-metropolitan centers under priority
sector?
A) Rs 15 lakh
B) Rs 20 lakh
C) Rs 28 Lakh

D) Rs 35 lakh
View Answer
Option B
Explanation: Loans to individuals up to ₹ 28 lakh in metropolitan centres (with
population of ten lakh and above) and loans up to ₹ 20 lakh in other centres for
purchase/construction of a dwelling unit per family, are eligible to be considered
as priority sector provided the overall cost of the dwelling unit in the
metropolitan centre and at other centres does not exceed ₹ 35 lakh and ₹ 25
lakh, respectively. Housing loans to banks’ own employees are not eligible for
classification under priority sector.
1. MSME is defined under which act?
A) MSME Act, 2004
B) MSMED Act, 2006
C) MSMED Act, 1999
D) MSME Act, 2001
View Answer
Option B
Explanation: MSME has been defined in the Micro, Small and Medium
Enterprises Development (MSMED) Act, 2006
2. In production sector, a micro enterprise is an enterprise where investment in
plant and machinery does not exceed ______.
A) Rs 10 lakh
B) Rs 15 lakh
C) Rs 20 lakh
D) Rs 25 lakh
View Answer
Option D
Explanation: A micro enterprise is an enterprise where investment in plant and
machinery does not exceed Rs. 25 lakh;
3. In production sector, a small enterprise is an enterprise where the investment in
plant and machinery is more than Rs. 25 lakh but does not exceed ______
A) Rs 2 crore
B) Rs 3 crore
C) Rs 5 crore
D) Rs 10 crore
View Answer
Option C
Explanation: A small enterprise is an enterprise where the investment in plant
and machinery is more than Rs. 25 lakh but does not exceed Rs. 5 crore
4. In production sector, amedium enterprise is an enterprise where the investment
in plant and machinery is more than Rs.5 crore but does not exceed _____
A) Rs 8 crore
B) Rs 10 crore
C) Rs 15 crore
D) Rs 20 crore
View Answer
Option B
Explanation: A medium enterprise is an enterprise where the investment in
plant and machinery is more than Rs.5 crore but does not exceed Rs.10 crore.
5. In service sector, a micro enterprise is an enterprise where the investment in
equipment does not exceed ______
A) Rs 10 lakh
B) Rs 15 lakh
C) Rs 20 lakh
D) Rs 25 lakh
View Answer
Option A
Explanation: A micro enterprise is an enterprise where the investment in
equipment does not exceed Rs. 10 lakh; (Service)
6. In service sector, a small enterprise is an enterprise where the investment in
equipment is more than Rs.10 lakh but does not exceed _______
A) Rs 2 crore
B) Rs 3 crore
C) Rs 5 crore
D) Rs 10 crore
View Answer
Option A
Explanation: A small enterprise is an enterprise where the investment in
equipment is more than Rs.10 lakh but does not exceed Rs. 2 crore; (service)
7. In service sector, a medium enterprise is an enterprise where the investment in
equipment is more than Rs. 2 crore but does not exceed ______
A) Rs 5 crore
B) Rs 10 crore
C) Rs 15 crore
D) Rs 20 crore
View Answer
Option A
Explanation: A medium enterprise is an enterprise where the investment in
equipment is more than Rs. 2 crore but does not exceed Rs. 5 crore (service)
8. A composite loan limit of ______can be sanctioned by banks to enable the
MSME entrepreneurs to avail of their working capital and term loan requirement
through Single Window.
A) Rs 10 lakh
B) Rs 25 lakh
C) Rs 50 lakh
D) Rs 1crore
View Answer
Option D
Explanation: A composite loan limit of Rs.1crore can be sanctioned by banks to
enable the MSME entrepreneurs to avail of their working capital and term loan
requirement through Single Window
9. Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) was
set up by Government of India and which of the following bank?
A) RBI
B) NABARD
C) SIDBI
D) MUDRA
View Answer
Option C
Explanation: The Ministry of MSME, Government of India and SIDBI set up
the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE)
with a view to facilitate flow of credit to the MSE sector without the need for
collaterals/ third party guarantees.
10.Micro or Small Enterprise (as defined in the MSMED Act 2006) may be said to
have become Sick, if
A) Any of the borrowal account of the enterprise remains NPA for ten months
or more
B) Any of the borrowal account of the enterprise remains NPA for eight months
or more
C) Any of the borrowal account of the enterprise remains NPA for five months
or more
D) Any of the borrowal account of the enterprise remains NPA for three months
or more
View Answer
Option D
Explanation: 3 months or more
1. A term loan is said to be non performing when interest and/ or installment of
principal remain overdue for a period of more than _______ .
A) 30 days
B) 90 days
C) 45 days
D) 180 days
View Answer
Option B
Explanation: Banks should, classify an account as NPA only if the interest due

and charged during any quarter is not serviced fully within 90 daysfrom the end
of the quarter.
2. Any loan for short duration crops is classified as NPA when the installment of
principal or interest there on remains overdue for _____ crop seasons
A) one
B) four
C) three
D) two
View Answer
Option D
Explanation: the instalment of principal or interest there on remains overdue for
two crop seasons for short duration crops
3. Any loan for long duration crops is classified as NPA when the installment of
principal or interest there on remains overdue for _____ crop seasons
A) one
B) four
C) three
D) two
View Answer
Option A
Explanation: the instalment of principal or interest there on remains overdue for
one crop season for long duration crops,
4. An account should be treated as ________ if the outstanding balance remains
continuously in excess of the sanctioned limit/drawing power.
A) out of limit
B) out of order
C) out of drawing
D) out of line
View Answer
Option B
Explanation: An account should be treated as ‘out of order’ if the outstanding
balance remains continuously in excess of the sanctioned limit/drawing power.
In cases where the outstanding balance in the principal operating account is less
than the sanctioned limit/drawing power, but there are no credits continuously
for 90 days as on the date of Balance Sheet or credits are not enough to cover
the interest debited during the same period, these accounts should be treated as
‘out of order’.
5. A substandard asset is one, which has remained NPA for a period less than or
equal to _______.
A) 6 months
B) 12 months
C) 18 months
D) 24 months
View Answer
Option B
Explanation: With effect from 31 March 2005, a substandard asset would be
one, which has remained NPA for a period less than or equal to 12 months.
6. An asset is classified as doubtful if it has remained in the substandard category
for a period of _____.
A) 6 months
B) 12 months
C) 18 months
D) 24 months
View Answer
Option B
Explanation: In simple words after an asset has remained NPA for more than
12 months is it a doubtful asset.
7. A __________ is one where loss has been identified by the bank or internal or
external auditors or the RBI inspection but the amount has not been written off
wholly.
A) Standard Asset
B) Loss Asset
C) By-stand Asset
D) Loan Asset
View Answer
Option B
Explanation: A loss asset is one where loss has been identified by the bank or
internal or external auditors or the RBI inspection but the amount has not been
written off wholly. In other words, such an asset is considered uncollectible and
of such little value that its continuance as a bankable asset is not warranted
although there may be some salvage or recovery value.
8. ________ is one where the bank, for economic or legal reasons relating to the
borrower’s financial difficulty, grants to the borrower concessions that the bank
would not otherwise consider.
A) Renovated account
B) Reprimed account
C) Advance account
D) Restructured account
View Answer
Option D
Explanation: Restructuring would normally involve modification of terms of
the advances / securities, which would generally include, among others,
alteration of repayment period / repayable amount/ the amount of instalments /
rate of interest (due to reasons other than competitive reasons).
9. What does M stands for in SMA with respect to NPA?
A) Monetary
B) Monopoly
C) Money
D) Mention
View Answer
Option D
Explanation: SMA- Special Mention Accounts. Banks will categorise accounts
as SMA when the money remains outstanding for 30-90 days after due payment
date.
10.How many sub-categories are there in Special Mention Accounts (SMA)?
A) 2
B) 3
C) 4
D) 5
View Answer
Option B
Explanation: SMA-0 => Principal or interest payment not overdue for more
than 30 days.
SMA-1 => Principal or interest payment overdue between 31-60 days
SMA-2 => Principal or interest payment overdue between 61-180 days
1. A ‘Banking Outlet’ as defined by RBI is a fixed point service delivery unit
providing service for a minimum of _______ hours per day for at least _____
days a week
A) five, six
B) five, five
C) four, six
D) four, five
View Answer
Option D
Explanation: A ‘Banking Outlet’ for a Domestic Scheduled Commercial Bank
(DSCB), a Small Finance Bank (SFB) and a Payment Bank (PB) is a fixed point
service delivery unit, manned by either bank’s staff or its Business
Correspondent where services of acceptance of deposits, encashment of
cheques/ cash withdrawal or lending of money are provided for a minimum of 4
hours per day for at least five days a week.
2. A banking outlet which does not provide delivery of service for a minimum of 4
hours per day and for at least 5 days a week will be considered a __________ .
A) Non-Operative Banking Outlet
B) Part-time Banking Outlet
C) Unofficial Banking Outlet
D) Off-Line Banking Outlet
View Answer
Option B
Explanation: A banking outlet which does not provide delivery of service for a
minimum of 4 hours per day and for at least 5 days a week will be considered a
‘Part-time Banking Outlet’.
3. Which of the following comes under Rural Center as per RBI?
(i) Tier 3 center
(ii) Tier 4 center
(iii) Tier 5 center
(iv) Tier 6 center
A) Only (ii) and (iii)
B) Only (i) and (ii)
C) (ii), (iii) and (iv)
D) (iii) and (iv)
View Answer
Option D
Explanation: Tier 1 comprises metropolitan and urban centres, Tiers 2, 3, and 4
comprise semi-urban centres and Tiers 5 and 6 comprise rural centres.
4. An ‘Unbanked Rural Centre’ (URC) is a rural centre that does not have a
_________ .
A) Automated ATM
B) Cash Deposit Machines (CDM)
C) CBS-enabled ‘Banking Outlet’
D) E- lobbies
View Answer
Option C
Explanation: An ‘Unbanked Rural Centre’ (URC) is a rural (Tier 5 and 6)
centre that does not have a CBS-enabled ‘Banking Outlet’ of a Scheduled
Commercial Bank, a Small Finance Bank, a Payment Bank or a Regional Rural
Bank nor a branch of Local Area Bank or licensed Co-operative Bank for
carrying out customer based banking transactions.
5. As per The guidelines of RBI, At least ______ of the total number of ‘Banking
Outlets’ opened during a financial year should be opened in unbanked rural
centres.
A) 10 percent
B) 15 percent
C) 20 percent
D) 25 percent
View Answer

Option D
Explanation: At least 25 percent of the total number of ‘Banking Outlets’
opened during a financial year should be opened in unbanked rural centres
6. What is the time period given by RBI to banks (other than SFB) for opening
25% banking outlets in ‘Unbanked Rural Centre’ (URC)?
A) 1 year
B) 2 years
C) 18 months
D) 3 years
View Answer
Option A
Explanation: 1 year from the date of issue of notification i.e from May 18,
2017.
7. For Small Finance Banks (SFBs) the time period given by RBI for opening 25%
banking outlets in ‘Unbanked Rural Centre’ (URC)?
A) 1 year
B) 2 years
C) 18 months
D) 3 years
View Answer
Option D
Explanation: At the end of three years from the date of their commencement of
business, all SFBs should have opened in URCs, at least 25 per cent of their
total Banking Outlets failing which penal measures including restrictions on
further expansion by such banks will be considered and imposed
8. What does L stands for in SLBC with respect to committees of Bank?
A) Life
B) Listed
C) Level
D) Line
View Answer
Option C
Explanation: State Level Banker Committees
9. Tier-1 Center as per RBI is one that has population equal to or more than _____.
A) 1,00,000
B) 50,000
C) 25,000
D) 1,50,000
View Answer
Option A
10.Metropolitan centre as per RBI is one that has population equal to or more than
_____.
A) 1,00,000
B) 5,00,000
C) 2,50,000
D) 10,00,000
View Answer
Option D
1. In which year first demonetization of Bank notes by RBI was done?
A) 1946
B) 1947
C) 1978
D) 1982
View Answer
Option A
Explanation: 12 Jan 1946
2. After Independence of India, how many times demonetization of bank note has
been done by GOI/RBI?
A) 1
B) 2
C) 3
D) 4
View Answer
Option B
Explanation: 16 Jan, 1978 and 9 November 2016. Overall 3 times, one in 1946
3. In which year Rs 5,000 note was demonitised?
A) 1946
B) 1978
C) 1982
D) 2016
View Answer
Option B
Explanation: 1978- Rs 1,000, Rs 5,000 and Rs 10,000
4. RBI can withdraw the legal tender character of bank notes as per ________ of
RBI Act, 1934
A) Section 24(1)
B) Section 24(2)
C) Section 26(2)
D) Section 28(2)
View Answer
Option C
Explanation: RBI can withdraw the legal tender character of bank notes as per
Section 26(2) of RBI Act, 1934
5. During the grace period to exchange demonetized bank notes, the deposit
facility is available at how many RBI offices (Demonetization of 2016)?
A) 4
B) 5
C) 6
D) 7

View Answer
Option B
Explanation: Five; Mumbai, New Delhi, Chennai, Kolkata, and Nagpur
6. What is the deadline for non- resident Indians to deposit Specified Bank
Notes(SBN) (Demonetization of 2016)?
A) July 1, 2017
B) July 31, 2017
C) June 1, 2017
D) June 30, 2017.
View Answer
Option D
Explanation: • For non- resident Indians (Indian passport holders), the grace
period to deposit SBN is till June 30, 2017.
7. What is the maximum amount of Specified Bank Notes(SBN) that non- resident
Indians can deposit with RBI (Demonetization of 2016)?
A) Rs 20,000
B) Rs 50,000
C) Rs 25,000
D) Rs 35,000
View Answer
Option C
Explanation: Maximum Rs 25,000. This facility will not be available for Indian
citizens resident in Nepal, Bhutan, Pakistan and Bangladesh
8. After the expiry of grace period, what is the maximum number of Specified
Bank Notes(SBN) that one can keep for study/ research/ numismatics purpose
(Demonetization of 2016)?
A) 5
B) 10
C) 15
D) 25
View Answer
Option D
Explanation: 25 for study/ research/ numismatics purpose; and maximum 10
for others
9. Who among the following RBI governors was not the governor of RBI during
which demonitisation took place in India?
A) Urjit Patel
B) I. G. Patel
C) M. Narasimham
D) C. D. Deshmukh
View Answer
Option C
Explanation: 1946- C. D. Deshmukh; 1978- I. G. Patel ; 2017- Urjit Patel
10.During demonetization period, RBI instructed banks to provide at least ___
percent of cash to rural area (Demonetization of 2016)?
A) 20%
B) 25%
C) 30%
D) 40%
View Answer
Option D
Explanation: 40%
1. What is the minimum startup capital for Local Area Bank?
A) Rs 5 crore
B) Rs 10 crore
C) Rs 100 crore
D) Rs 500 crore
View Answer
Option A
2. In a Local Area Bank the number of NRI promoters cannot exceed ____ of the
total number of promoters.
A) 5%
B) 10%
C) 15%
D) 20%
View Answer
Option D
3. In a Local Area Bank, Individual shareholder voting rights were to be restricted
to a ceiling of ____ of the total voting rights
A) 5%
B) 10%
C) 15%
D) 20%
View Answer
Option B
4. The area of operation of a Local Area Bank is restricted to a maximum of
______ geographically contiguous districts.
A) two
B) three
C) four
D) Five
View Answer
Option B
5. For a Local Area Bank, at least ____ of the new bank credit must be lend to
Priority Sector.
A) 20%
B) 25%
C) 30%
D) 40%
View Answer

Option D
6. In regard to liquidity requirements and interest rates, Local Area Banks are
governed by which of the following act?
D) Regional Rural Banks Act, 1976
View Answer
Option D
Explanation: The bank would be governed by the provisions of the Reserve
Bank of India Act, 1934, the Banking Regulation Act, 1949 and other relevant
statutes. However, in regard to liquidity requirements and interest rates, such
banks would be governed by the provisions applicable to the Regional Rural
Banks (RRBs) established under the Regional Rural Banks Act, 1976.
7. The regulatory responsibility over the Local Area Banks vests with
___________ of the RBI.
A) Rural Planning and Credit Department
B) Department of Banking Operations and Development
C) Department of Non-Banking Companies
D) Financial Inclusion and Development Department
View Answer
Option A
Explanation: The regulatory responsibility over the LABs vests with Rural
Planning and Credit Department (RPCD) of the RBI.
8. Supervision over LABs lies with the __________ of the RBI.
A) Department of Banking Regulation
B) Department of Economic and Policy Research
C) Department of Banking Supervision
D) Department of Cooperative Bank Supervision
View Answer

Option C
Explanation: Supervision over LABs lies with the Department of Banking
Supervision (DBS).
9. The NRI contributions to the equity of the Local Area Bank cannot exceed
______ of the paid-up capital.
A) 20%
B) 30%
C) 40%
D) 50%
View Answer
Option C
10.Local Area Banks have to maintain capital adequacy ratio (CAR) of _____
percent.
A) 5%
B) 8%
C) 10%
D) 12%
View Answer
Option B
Explanation: The bank would have to maintain capital adequacy at 8% of risk
weighted assets and comply with the norms of income recognition, asset
classification and provisioning since inception.
1. UPI has been developed by?
A) RBI
B) NPCI
C) MeitY
D) NOFN
View Answer
Option B
Explanation: Unified Payments Interface (UPI) is an instant payment system

developed by the National Payments Corporation of India (NPCI), an RBI
regulated entity.
2. What is the maximum number of digits that a UPI-PIN can have?
A) 4
B) 5
C) 6
D) 8
View Answer
Option C
Explanation: UPI-PIN (UPI Personal Identification Number) is a 4-6 digit pass
code you create/set during first time registration with this App.
3. In UPI, ______ is an Address which uniquely identifies a person’s bank
account.
A) Primary Address
B) Unique Address
C) Bank Address
D) Payment Address
View Answer
Option D
Explanation: Payment Address also known as Virtual Payment Address (VPA)
4. Instant fund transfer under UPI, if available for how many hours in a day?
A) 8 hours
B) 10 hours
C) 12 hours
D) 24 hours
View Answer
Option D
Explanation: All payments are instant and 24/7, regardless of your bank’s
working hours.

5. What is the limit of fund transfer using UPI?
A) Rs 20,000
B) Rs 10,000
C) Rs 50,000
D) Rs 1 Lakh
View Answer
Option D
Explanation: At present, the upper limit per UPI transaction is Rs. 1 Lakh.
6. Which of the following term is used for Requesting money in UPI?
A) PULL
B) PUSH
C) DRAW
D) ASK
View Answer
Option A
7. Which of the following term is used for Sending money in UPI?
A) PULL
B) PUSH
C) TRANSFER
D) PUT
View Answer
Option B
8. Which of the following is a financial transaction under UPI?
A) Collect Request
B) Set/Change PIN
C) Check Transaction Status
D) Raise Dispute/ Raise query
View Answer

Option A
Explanation: There are two financial transactions that UPI supports:
a) Pay Request: A Pay Request is a transaction where the initiating customer is
pushing funds to the intended beneficiary. Payment Addresses include Mobile
Number & MMID, Account Number & IFSC and Virtual ID
b) Collect Request: A Collect Request is a transaction where the customer is
pulling funds from the intended remitter by using Virtual ID.
Non-Financial Transaction:
Mobile Banking Registration
Generate One Time Password ( OTP)
Set/Change PIN
Check Transaction Status
Raise Dispute/ Raise query
9. What does S stands for in PSP with respect to UPI?
A) Software
B) Service
C) System
D) Synchronized
View Answer
Option C
Explanation: PSP- Payment System Player . The bank which provides UPI
10.The eligible criteria for the Banks who can participate in UPI is that the Bank
should have approval from RBI for Mobile Banking Service and also should be
live on _____.
A) AEPS
B) BBPS
C) IMPS
D) CTS
View Answer
Option C
1. Immediate Payment Service (IMPS) facility is provided by?
A) BBPS
B) RBI
C) NPCI
D) AEPS
View Answer
Option C
2. Immediate Payment Service (IMPS) is provided by NPCI through its existing

____ switch.
A) Hitachi
B) ISO
C) NFS
D) RBI
View Answer
Option C
Explanation: National Financial Switch (NFS)
3. Mobile Money Identifier (MMID) is a ___ digit number.
A) 4
B) 5
C) 6
D) 7
View Answer
Option D
4. Which of the following cannot be used for fund transfer through IMPS?
A) Using Mobile number & MMID
B) Using Aadhaar numbe
C) Using Virtual Private Address
D) Using Account number & IFS Code
View Answer
Option C
Explanation: Facility of VPA is available in UPI.
5. What does S stands for in ABRS with respect to payment through Aadhar
Cards?
A) System
B) Service
C) Software
D) Schedule
View Answer
Option B
Explanation: Aadhaar based Remittance Service (ABRS)
In ABRS, a remitter can initiate IMPS transaction using the beneficiary’s
AADHAAR number, which acts as a financial address & which will be linked to
the beneficiaries account number.
6. IFS Code is a ___ digit code.
A) 7
B) 9
C) 11
D) 16
View Answer
Option C
Explanation: IFS Code – 11 digit alphanumeric number, available in the users
Cheque book. A person can initiate IMPS transaction using account number and
IFS code also
7. What does M stands for in QSAM with respect to Aadhar based payments?
A) Manager
B) Merge
C) Mapper
D) Maintain
View Answer
Option C
Explanation: Query Service on Aadhaar Mapper (QSAM) –

8. Instant money transfer under IMPS is available on how many days in a week?
A) 4
B) 5
C) 6
D) 7
View Answer
Option D
Explanation: 24 hours on all days including holidays
9. Identify the false statement with respect to IMPS
A) The customer needs to have a bank account with the bank which has enabled
IMPS facility.
B) Customer should enroll for Mobile Banking Service.
C) The customer cannot link the same mobile number to more than one account.
D) The bank will allocate a Mobile Money Identifier (MMID) for each account
of the mobile banking customers.
View Answer
Option C
Explanation: The customer can link the same mobile number to more than one
account subject to feasibility provided by the bank. For this the bank will
allocate a Mobile Money Identifier (MMID) for each account of the mobile
banking customers. The customer can select the account using this MMID
allocated to him / her.
10.Identify the true statement with respect to IMPS.
A) The charges for remittance through IMPS are decided by NPCI
B) In IMPS once a payment is initiated it cannot be stopped.
C) IMPS service is not available on Sunday
D) All are true
View Answer
Option B
Explanation: A) The charges for remittance through IMPS are decided by the
individual member banks

B) is correct
C) IMPS service is available 24*7 all days of the year.
1. What does S stands for in BBPS?
A) System
B) Service
C) Software
D) Symbol
View Answer
Option A
Explanation: Bharat Bill Payment System (BBPS)
2. _____ will be the single authorized entity operating the BBPS.
A) BBPOU
B) BBPCU
C) BBPAU
D) BBPNU
View Answer
Option B
Explanation: Bharat Bill Payment Central Unit (BBPCU) will be the single
authorized entity operating the BBPS.
3. ______ will function as the authorized Bharat Bill Payment Central Unit
(BBPCU) in BBPS?
A) RBI
B) Sponsor Banks
C) NPCI
D) NABARD
View Answer
Option C
Explanation: National Payments Corporation of India (NPCI) will function as
the authorized Bharat Bill Payment Central Unit (BBPCU)

4. Bharat Bill Payment Operating Units (BBPOUs) will be the authorized by ____
?
A) NPCI
B) RBI
C) Finance Ministry
D) NABARD
View Answer
Option B
Explanation: Bharat Bill Payment Operating Units (BBPOUs) Will be the
authorised by RBI as operational units, to function in adherence to the standards
set by the BBPCU. While there will be a single BBPCU, there could be multiple
BBPOUs operating under the BBPS.
5. Banks which are desirous of operating as BBPOUs would need to obtain one-
time approval from the Reserve Bank of India under the ___________.
A) Companies Act 2013
B) Payment and Settlement Systems Act, 2007
D) Reserve Bank of India Act, 1934
View Answer
Option B
Explanation: Banks which are desirous of operating as BBPOUs would need to
obtain one-time approval from the Reserve Bank of India under the Payment
and Settlement Systems Act, 2007.
6. The Virtual Payment Address in BHIM App has the extension of?
A) upi
B) name of the bank
C) bhim
D) vpa
View Answer
Option A
Explanation: Default VPA is mobilenumber@upi

7. What is the daily limit of transaction in BHIM app?
A) Rs 10,000
B) Rs 20,000
C) Rs 50,000
D) Rs 1,00,000
View Answer
Option B
Explanation: Daily Limit- Rs 20,000
8. What is the limit on transaction for a single transaction in BHIM app?
A) Rs 1,000
B) Rs 2,000
C) Rs 5,000
D) Rs 10,000
View Answer
Option D
Explanation: Limit per transaction- Rs 10,000
9. BHIM app is based on?
A) IMPS
B) BBPS
C) UPI
D) NEFT
View Answer
Option C
Explanation: BHIM app is based on UPI
10.BHIM app is developed by?
A) RBI
B) NPCI
C) MeitY
D) NASSCOM

View Answer
Option B
Explanation: BHIM (Bharat Interface for Money) is a Mobile App developed
by National Payments Corporation of India (NPCI), based on the Unified
Payment Interface (UPI).
1. What does E stands for in AEPS?
A) Earning
B) Equity
C) Enabled
D) Economic
View Answer
Option C
Explanation: Aadhaar Enabled Payment System
2. What does B stands for in BFD with rest to AEPS?
A) Biometric
B) Best
C) Binary
D) Balance
View Answer
Option B
Explanation: BFD is Best finger detection .The best finger of a resident is the
one that has the highest probability of matching. A resident can possess one or
more best fingers, which can be detected during the Best Finger Detection
(BFD) process.
3. AEPS is a bank led model which allows online interoperable financial inclusion
transaction at _____
A) PoS
B) PoC
C) Aadhar Card
D) ATM
View Answer
Option A
Explanation: AEPS is a bank led model which allows online interoperable
financial inclusion transaction at PoS (MicroATM) through the Business
correspondent of any bank using the Aadhaar authentication.
4. IIN (Institution Identification Number) is a ___ digit number.
A) 4
B) 5
C) 6
D) 11
View Answer
Option C
Explanation: IIN is a unique 6 digit number issued by NPCI to every APB
System participating bank and is used to uniquely identify a bank to which the
APB transaction has to be routed in the Aadhaar Payment Bridge (APB) System.
5. What does B stands for in AEBA?
A) Biometric
B) Branch
C) Bank
D) Basic
View Answer
Option B
Explanation: Aadhaar Enabled Bank Account (AEBA).
6. _______ is a repository of Aadhaar numbers maintained by the APB System and
used for the purpose of routing the APB transactions to the destination banks.
A) NPCI saver
B) NPCI fisher
C) NPCI editor
D) NPCI mapper
View Answer
Option D

7. In AEPS, Unique ID and _____ is used for authentication purpose.
A) Password
B) PIN
C) Biometric
D) Anyone of the above
View Answer
Option C
Explanation: Inputs required during AEPS: IIN + Aadhar Number + Biometric
data (Finger Print or Iris)
8. In AEPS which of the following input determines the bank of the customer?
A) IIN
B) PIN
C) IFSC
D) SWIFT
View Answer
Option A
Explanation: IIN (Institution Identification Number)
9. Which bank launched First RuPay ATM & Micro ATM Card with Aadhaar
Number?
B) HDFC Bank
C) Bank of India
D) ICICI Bank
View Answer
Option C
10.Which of the following feature is currently not present in AEPS?
A) Cash Deposit
B) Cash Withdrawal
C) Balance Enquiry
D) Virtual Card Creation

View Answer
Option D
Explanation: The four Aadhaar enabled basic types of banking transactions are
as follows:-
Balance Enquiry
Cash Withdrawal
Cash Deposit
Aadhaar to Aadhaar Funds Transfer
1. Where is the headquarters of AU Small Finance Bank located?
A) Ahmedabad
B) Jaipur
C) Jaisalmer
D) Bengaluru
View Answer
Option B
Explanation: Au Financiers (India) Ltd.- Jaipur
2. Where is the headquarters of Capital Local Area Bank located?
A) Amritsar
B) Ludhiana
C) Patiala
D) Jalandhar
View Answer
Option D
Explanation: Capital Local Area Bank Ltd.- Jalandhar
3. Where is the headquarters of Fincare small finance bank located?
A) Ahmedabad
B) Jaipur
C) Gandhinagar
D) Bengaluru
View Answer

Option D
Explanation: Setup by- Disha Microfin Private Ltd.
4. Where is the headquarters of Equitas Small Finance Bank located?
A) Thiruvananthapuram
B) Kozhikode
C) Chennai
D) Bengaluru
View Answer
Option C
Explanation: Equitas Holdings P Limited, Chennai
5. Where is the headquarters of North East Small Finance Bank located?
A) Guwahati
B) Gangtok
C) Shillong
D) Agartala
View Answer
Option A
Explanation: RGVN (North East) Microfinance Limited, Guwahati
6. Where is the headquarters of Suryoday Small Finance Bank Ltd located?
A) Ahmedabad
B) Jaipur
C) Mumbai
D) Bengaluru
View Answer
Option C
Explanation: Suryoday Micro Finance Private Ltd., Navi Mumbai
7. Where is the headquarters of Ujjivan Small Finance Bank located?
A) Ahmedabad
B) Jaipur
C) Mumbai
D) Bengaluru
View Answer
Option D
Explanation: Ujjivan Financial Services Private Ltd., Bengaluru
8. Where is the headquarters of Utkarsh Small Finance Bank located?
A) Mumbai
B) Chennai
C) Varanasi
D) Bengaluru
View Answer
Option C
Explanation: Utkarsh Micro Finance Private Ltd., Varanasi
9. Where is the headquarters of Jana Small Finance Bank located?
A) Mumbai
B) Chennai
C) Varanasi
D) Bengaluru
View Answer
Option D
Explanation: Janalakshmi Financial Services Private Limited, Bengaluru
10.Where is the headquarters of ESAF Small Finance Bank located?
A) Thissur
B) Kozhikode
C) Chennai
D) Bengaluru
View Answer
Option A
Explanation: ESAF Microfinance and Investments Private Ltd.- Thissur, Kerala

1. What does A stands for in NACH?
A) Account
B) Annual
C) Adjustable
D) Automated
View Answer
Option D
Explanation: National Automated Clearing House
2. Which of the following is the implementing body of NACH?
A) RBI
B) NPCI
D) NABARD
View Answer
Option B
Explanation: National Payments Corporation of India (NPCI) has implemented
“National Automated Clearing House (NACH)” for Banks, Financial
Institutions, Corporates and Government a web based solution to facilitate
interbank, high volume, electronic transactions which are repetitive and periodic
in nature.
3. NACH has been launched with an aim to consolidate multiple _____ systems
running across the country
A) ECS
B) APB
C) NEFT
D) RTGS
View Answer
Option A
Explanation: Electronic Clearing System (ECS)
National Automated Clearing House (NACH) is a centralised system, launched
with an aim to consolidate multiple ECS systems running across the country and

provides a framework for the harmonization of standard & practices and
removes local barriers/inhibitors.
4. Which of the following system has been designed by NPCI for Direct Benefit
Transfer (DBT) system?
A) UPI
B) BBPS
C) IMPS
D) ABPS
View Answer
Option D
Explanation: NPCI developed a centralized Direct Benefit Transfer (DBT)
system, alternatively known as Aadhaar Payment Bridge (APB) System for
channelizing the entitlements using Aadhaar number issued by UIDAI in an
electronic manner by identifying the beneficiary and crediting the beneficiary
bank account directly, once the Aadhaar number and the bank account number
of the recipient are linked.
5. Which of the following clearing service is not controlled by Reserve Bank of
India?
A) Local ECS
B) Regional ECS
C) National ECS
D) NACH
View Answer
Option D
Explanation: While the Local ECS, Regional ECS, National ECS are controlled
by the Reserve Bank of India or by the designated commercial banks, NACH
functions on all India platforms managed by the National Payments Corporation
of India (NPCI).
6. NPCI has how many core promoter banks?
A) 8
B) 9
C) 10

D) 12
View Answer
Option C
Explanation: Presently ten core promoter banks (State Bank of India, Punjab
National Bank, Canara Bank, Bank of Baroda, Union bank of India, Bank of
India, ICICI Bank, HDFC Bank, Citibank and HSBC).
7. NPCI was incorporated under Section _____ of Companies Act 1956.
A) Section 8
B) Section 10
C) Section 12
D) Section 25
View Answer
Option D
Explanation: Section 25 company under Companies Act 1956
Important Point: Now it is Section 8 of Companies Act 2013
8. Which of the following is not a product by NPCI?
A) AEPS
B) UPI
C) ECS
D) RuPay
View Answer
Option C
Explanation: ECS if by RBI.
NPCI- NFS, BHIM, UPI, IMPS, NACH, AEPS, RuPAY, BBPS
9. What is the authorized capital of NPCI?
A) Rs 100 crore
B) Rs 200 crore
C) Rs 250 crore
D) Rs 300 crore

View Answer
Option D
10.What is the paid up capital of NPCI?
A) Rs 50 crore
B) Rs 100 crore
C) Rs 137 crore
D) Rs 150 crore
View Answer
Option C
1. Reserve bank of India has the sole right to issue bank notes in India is defined in
the _____ of The Reserve Bank of India Act, 1934
A) Section 22(1)
B) Section 24(1)
C) Section 26(2)
D) Section 32(1)
View Answer
Option A
Explanation: Section 22(1) of RBI Act 1934
2. Government of India can print Re. 1 note and coins as per which act?
A) RBI Act, 1934
B) Coinage Act, 2011
C) Paper Currency Act, 1861
D) FRBM Act, 2003
View Answer
Option B
3. Offense of Money Laundering is defined under _____ of Prevention of Money
Laundering Act 2002
A) Section 2
B) Section 3
C) Section 5
D) Section 6
View Answer
Option B
Explanation: Section 3 of PMLA 2002
4. Obligations under Prevention of Money Laundering Act 2002 is defined under
which section?
A) Section 6
B) Section 8
C) Section 10
D) Section 12
View Answer
Option D
Explanation: Section 12 of PMLA 2002
5. ‘Customer’ is defined under which Act?
A) RBI Act, 1934
C) PMLA, 2002
D) Negotiable Instruments Act, 1881
View Answer
Option C
6. The term ‘Banking’ is defined under _____ of Banking Regulation Act, 1949
A) Section 4(a)
B) Section 5(b)
C) Section 6(c)
D) Section 7(a)
View Answer

Option B
Explanation: As per Section 5(b) of the Banking Regulation Act, 1949 ,
“banking” means the accepting, for the purpose of lending or investment, of
deposits of money from the public, repayable on demand or otherwise, and
withdrawable by cheque, draft, order or otherwise.
7. Which section of Banking Regulation Act defines that no person other than a
bank is authorized to accept deposits withdraw able by cheque?
A) Section 19A
B) Section 29A
C) Section 39A
D) Section 49A
View Answer
Option D
8. Procedure for amalgamation of banking companies is defined under section
____ of Banking Regulation Act, 1949.
A) Section 44A
B) Section 45A
C) Section 46A
D) Section 47A
View Answer
Option A
Explanation: The Reserve Bank has discretionary powers to approve the
voluntary amalgamation of two banking companies under the provisions of
Section 44A of the Banking Regulation Act, 1949.
9. Promissory notes is defined under which section of Negotiable Instruments Act
1881?
A) Section 4
B) Section 5
C) Section 6
D) Section 7
View Answer
Option A
10.Bill of exchange is defined under which section of Negotiable Instruments Act
1881?
A) Section 4
B) Section 5
C) Section 6
D) Section 7
View Answer
Option B
11.Cheque is defined under which section of Negotiable Instruments Act 1881?

A) Section 4
B) Section 5
C) Section 6
D) Section 7
View Answer
Option C
12.Which section of Negotiable Instruments Act 1881 deals with the different in
amount of state figures and words of a negotiable instrument?
A) Section 13
B) Section 18
C) Section 19
D) Section 25
View Answer
Option B
13.Dishonour of a bill of exchange by non-acceptance is defined under which
section of Negotiable Instruments Act 1881?
A) Section 81
B) Section 89
C) Section 91
D) Section 92
View Answer
Option C
14.Dishonour of a promissory note, bill of exchange or cheque by non-payment is
defined under which section of Negotiable Instruments Act 1881?
A) Section 81
B) Section 89
C) Section 91
D) Section 92
View Answer
Option D
Explanation:
15.Dishonour of cheque due to fund insufficiency is defined under which section of
Negotiable Instruments Act 1881?
A) Section 93
B) Section 128
C) Section 138
D) Section 148
View Answer
Option C
1. The composition of central board of Reserve Bank of India is defined under
Section ___ of RBI Act, 1934
A) 6
B) 5
C) 7
D) 8
View Answer

Option D
Explanation: Section 8
2. The business that RBI can carry out is defined under which section of RBI Act,
1934?
A) 14
B) 15
C) 16
D) 17
View Answer
Option D
3. RBI has the right to transact Central Government business in India as per which
section of RBI Act, 1934?
A) 20
B) 21
C) 22
D) 23
View Answer
Option B
Explanation: 20. Obligation of the Bank to transact Government business.
21. Bank to have the right to transact Government business in India.
21A. Bank to transact Government business of States on agreement.
4. RBI has the right to issue bank note under which section of RBI Act, 1934?
A) 21
B) 22
C) 23
D) 24
View Answer
Option B
Explanation: 22. Right to issue bank notes.
24. Denominations of notes.
5. RBI can withdraw the legal tender of any bank note under which section of RBI
Act, 1934?
A) Section 26 (1)
B) Section 26 (2)
C) Section 24 (1)
D) Section 24 (2)
View Answer
Option B
Explanation: 26(1)- defines the legal tender
26(2)- talks about withdrawal of legal tender
6. Cash Reserve Ratio is defined under which section of RBI Act, 1934?
A) 40
B) 41
C) 42
D) 43
View Answer
Option C
7. Repo and Reverse Repo are defined under which section of RBI Act, 1934?
A) 43
B) 44
C) 45
D) 46
View Answer
Option C
Explanation: Section 45(U)- repo, reverse repo, derivative, money market
instruments and securities are defined
8. Small Finance Banks are licensed under which act?
A) Companies Act, 2013
C) Reserve Bank of India Act, 1934
D) Foreign Exchange Management Act, 1999
View Answer
Option B
Explanation: licensed under Section 22 of the Banking Regulation Act, 1949
9. Holidays in banks are declared as per which act?
D) Negotiable Instruments (NI) Act, 1881
View Answer
Option D
Explanation: Negotiable Instruments (NI) Act, 1881
10.General Lien of a banker is defined under section ___ of Contract Act, 1872
A) 152
B) 160
C) 171
D) 176
View Answer
Option C
1. What does E stands for in ECCS with respect to cheque clearing?
A) Enabled
B) Express
C) Established
D) Encrypted
View Answer
Option B
Explanation: Express Cheque Clearing System (ECCS)

2. RRBs should maintain a LTV ratio of 75% on the outstanding amount of loan
including the interest on an ongoing basis, failing which the loan will be treated
as a NPA. What does L stands for in LTV.
A) Liquidity
B) Liability
C) Loan
D) Lien
View Answer
Option C
Explanation: Loan to Value
3. FRA and IRS are such instruments which can provide effective hedge against
interest rate risks. What does F stands for in FRA?
A) Futures
B) Forward
C) Functionality
D) Free
View Answer
Option B
Explanation: FRA- Forward Rate Agreement
4. FRA and IRS are such instruments which can provide effective hedge against
interest rate risks. What does S stands for in IRS?
A) Settlement
B) Short
C) Swap
D) Skip
View Answer
Option C
Explanation: IRS- Interest Rate Swap
5. An IBU can become a PCM of the exchange in the IFSC for clearing and
settlements in any derivatives segments. What does P stands for in PCM?
A) Permanent
B) Primary
C) Public
D) Professional
View Answer
Option D
Explanation: Professional Clearing Member
6. The securities offered for substitution by the market participants shall be of
similar market value based on the latest prices published by the FIMMDA. What
does D stands for in FIMMDA?
A) Derivatives
B) Dividend
C) Differential
D) Dynamic
View Answer
Option A
Explanation: Fixed Income Money Market and Derivatives Association of
India
7. Name of Annual Information Return (AIR) has now been changed to SFT. What
does s stands for in SFT?
A) Savings
B) Systematic
C) Statement
D) Settled
View Answer
Option C
Explanation: SFT- Statement of Financial Transaction
8. What does R stands for in QR Code?
A) Review
B) Response
C) Random

D) Retrieval
View Answer
Option B
Explanation: Quick Response Code
9. What does P stands for in IAP with respect to UPI?
A) Processing
B) Payment
C) Progress
D) Primary
View Answer
Option B
Explanation: In-App Payments (IAP). This term is also used with android apps
10.What does B stands for in APBS?
A) Biometric
B) Basic
C) Bundled
D) Bridge
View Answer
Option D
Explanation: Aadhaar Payment Bridge (APB) System
1. Payment of coupons on PDI from the revenue reserves is subject to the issuing
bank meeting minimum regulatory requirements for CET1. What does P stands
for in PDI?
A) Portfolio
B) Paid up
C) Perpetual
D) Participatory
View Answer

Option C
Explanation: PDI- Perpetual Debt Instruments
2. What does R stands for in CFR with respect to Fraud Management?
A) Reporting
B) Registry
C) Relevance
D) Response
View Answer
Option B
Explanation: Central Fraud Registry
3. Restructuring of loan accounts with exposure of above Rs.25 crore will continue
to be governed by the extant guidelines on CDR / JLF mechanism. What does C
stands for in CDR?
A) Capital
B) Cash
C) Corporate
D) Central
View Answer
Option C
Explanation: Corporate Debt Restructuring (CDR) / Joint Lenders’ Forum
(JLF)
4. In the case of MLTGD, the redemption of principal at maturity shall, at the
option of the depositor, be either in Indian Rupee equivalent of the value of
deposited gold at the time of redemption, or in gold. What does M stands for in
MLTGD?
A) Monetary
B) Monetization
C) Medium
D) Managed
View Answer

Option C
Explanation: Medium and Long Term Government Deposit (MLTGD)
5. The information regarding UFCE of individual borrowers shall be reported on a
quarterly basis to all the four CICs by the lending bank. What does U stands for
in UFCE?
A) Undertaking
B) Underlying
C) Unified
D) Unhedged
View Answer
Option D
Explanation: Unhedged Foreign Currency Exposures (UFCE)
6. The aggregate exposure limit of all banks towards the PCE for a given bond
issue has been capped at 20 per cent of the bond issue size. What does P stands
for in PCE?
A) Partial
B) Primary
C) Progressive
D) Prompt
View Answer
Option A
Explanation: Partial Credit Enhancement (PCE)
7. Banks must apply LEF at the same level as the risk-based capital requirements
are applied. What does L stands for in LEF?
A) Large
B) Liquidity
C) Liability
D) Loan
View Answer
Option A
Explanation: LEF- Large Exposures Framework
8. What does P stands for in OTP in relation to e-KYC?
A) Password
B) Pin
C) Present
D) Principle
View Answer
Option B
Explanation: One Time Pin (OTP)
9. What does U stands for in USSD?
A) Unified
B) Unstructured
C) Unsymmetrical
D) Undertaking
View Answer
Option B
Explanation: Unstructured Supplementary Service Data (USSD)
10.FBIL shall publish rates / prices for the reference rate / asset/derivatives as the
case may be for arriving at settlement value in the OTC market. What does B
stands for in FBIL?
A) Branch
B) Banking
C) Beneficiary
D) Benchmark
View Answer
Option D
Explanation: Financial Benchmark India Pvt. Ltd. (FBIL)
1. What does G stands for in WGWD with respect to willful defaulters?
A) Gain
B) General
C) Group

D) Garnishee
View Answer
Option C
Explanation:
2. The Standing Liquidity Facilities provided to banks under ECR and to Primary
Dealers (PDs) from the Reserve Bank would be available at the revised repo
rate. What does C stands for in ECR?
A) Cheque
B) Credit
C) Customs
D) Capital
View Answer
Option B
Explanation: Export Credit Refinance
3. Eligible residents can enter into FCY-INR swaps to hedge exchange rate and/or
interest rate risk exposure arising out of long-term foreign currency borrowing.
What does F stands for in FCY?
A) Financial
B) Formal
C) Foreign
D) Fucntional
View Answer
Option C
Explanation: Foreign Currency (FCY) – INR Swaps
4. What does D stands for in NCD?
A) Derivatives
B) Debentures
C) Declaration
D) Decline

View Answer
Option B
Explanation: Non-Convertible Debentures
5. What does A stands for in ANBC?
A) Account
B) Active
C) Advance
D) Adjusted
View Answer
Option
Explanation: Adjusted Net Bank Credit (ANBC)
6. Banks can regularise payments exceeding the prescribed limit under RDA
provided that they are satisfied with the bonafide of the transaction. What does
R stands for in RDA?
A) Regulation
B) Rupee
C) Revenue
D) Response
View Answer
Option B
Explanation: Rupee Drawing Arrangements
7. What does CVV stands for?
A) Card Value Verified
B) Card verification Valid
C) Card Valid Value
D) Card Verification Value
View Answer
Option D
Explanation: Card Verification Value

Card Verification Value Code (CVVC); card security code (CSC); Card
Verification Data (CVD)
8. The Reserve Bank of India said it will implement the LEI system for all
participants in the over-the-counter markets for rupee interest rate derivatives.
What does E stands for in LEI?
A) Entry
B) Enterprise
C) Entity
D) Easy
View Answer
Option C
Explanation: Legal Entity Identifier; It is a 20 digit code
9. What does M stands for in PPI-MTS?
A) Money
B) Monetary
C) Managerial
D) Mass
View Answer
Option D
Explanation: Prepaid Payment Instrument- Mass Transit Systems
10.What does M stands for in EMV Chips?
A) MaestroCard
B) MasterCard
C) Money
D) Monetary
View Answer
Option B
Explanation: EMV- Europay, MasterCard, and Visa
1. FCA are invested in multi-currency, multi-asset portfolios as per the norms,
which are similar to the best international practices followed in this regard. C in
FCA stands for?
A) Credit
B) Currency
C) Call
D) Central
View Answer
Option B
Some Extra:
Foreign currency assets (FCA) are simply assets that are valued based on a
currency other than the firm’s “home” currency.
2. JLF is a dedicated grouping of lender banks that is formed to speed up decisions
in case of Non-Performing Assets (NPAs). F in JLF stands for?
A) Finance
B) Fund
C) Function
D) Forum
View Answer
Option D
Some Extra:
The Joint Lender’s Forum is a dedicated grouping of lender banks that is formed
to speed up decisions when an asset (loan) of more Rs 100 crore or more turns
out to be a stressed asset.
3. IDFs are investment vehicles for channelizing investment into the infrastructure
sector. F in IDF stands for?
A) Finance
B) Fund
C) Function
D) Forum
View Answer
Option B
Some Extra:
Infrastructure Debt Fund (IDFs) are investment vehicles which can be sponsored

by commercial banks and NBFCs in India in which domestic/offshore
institutional investors, specially insurance and pension funds can invest through
units and bonds issued by the IDFs.
4. NUUP is a USSD based mobile banking service from NPCI that brings together
all the Banks and Telecom Service Providers. P in NUUP stands for?
A) Payment
B) Platform
C) Perform
D) Plan
View Answer
Option B
Some Extra:
National Unified USSD Platform
5. What does M stands for in QSAM, which is related to Aadhaar Number?
A) Mandatory
B) Merger
C) Migrate
D) Mapper
View Answer
Option D
Some Extra:
Query Service on Aadhaar Mapper
6. IIBs are debt market securities offered by the government, and even some
corporations with a view to protect your savings from inflation. What does
middle letter I stands for in IIB?
A) Inflation
B) Indexed
C) Information
D) Investement
View Answer

Option B
Some Extra:
Inflation-indexed bonds
7. In financial terms, what does L in LTV stands for?
A) Loan
B) Listed
C) Lien
D) Lend
View Answer
Option A
Some Extra:
The loan-to-value (LTV) ratio is a financial term used by lenders to express the
ratio of a loan to the value of an asset purchased. The term is commonly used by
banks and building societies to represent the ratio of the first mortgage line as a
percentage of the total appraised value of real property.
8. D is FSDC stands for?

A) Demonstrate
B) Discussion
C) Development
D) Dedicated
View Answer
Option C
Some Extra:
Financial Stability and Development Council
9. What does P stands for in CNP?
A) Privacy
B) Prompt
C) Permissive
D) Present
View Answer
Option D
Some Extra:
A card not present transaction(CNP) is a payment card transaction made where
the cardholder does not or cannot physically present the card for a merchant’s
visual examination at the time that an order is given and payment effected.
10.What is R in MDR?
A) Rate
B) Ratio
C) Right
D) Reserve
View Answer
Option A
Some Extra:
Merchant Discount Rate – The rate charged to a merchant by a bank for
providing debit and credit card services.
1. In 2006 United Western Bank Ltd. was merger with which bank?
A) ICICI Bank
B) IDBI Bank
C) HDFC Bank
D) Axis Bank
View Answer
Option B
2. In 2002 Benares State Bank was merged with which bank?
A) Bank of Baroda
D) Union Bank of India
View Answer
Option A

3. In which year ICICI Ltd. was merged with ICICI Bank Ltd.?
A) 2001
B) 2000
C) 2002
D) 2003
View Answer
Option C
4. In 2001 Bank of Madura was merged with which bank?
A) ICICI Bank
B) IDBI Bank
C) HDFC Bank
D) Axis Bank
View Answer
Option A
5. In 2000 Times Bank was merger with which bank?
A) ICICI Bank
B) IDBI Bank
C) HDFC Bank
D) Axis Bank
View Answer
Option C
6. In 1999 Sikkim Bank was merged with which bank?
A) Bank of Baroda
D) Union Bank of India
View Answer
Option D

7. New Bank of India was merged with Punjab National Bank in which year?
A) 1990
B) 1992
C) 1993
D) 1995
View Answer
Option C
8. In 2016 ING Vysya Bank was merged with which bank?
A) Axis Bank
B) ICICI Bank
C) Kotak Mahindra Bank
D) HDFC Bank
View Answer
Option C
9. On April 1, 2017 how many banks merged with State Bank of India?
A) 4
B) 5
C) 6
D) 7
View Answer
Option C
Explanation: 5 associate banks and one Bhartiya Mahila Bank
10.In 2006 United Western Bank Ltd. was merged with which bank?
A) ICICI Bank
B) IDBI Bank
C) HDFC Bank
D) Axis Bank
View Answer

Option B
1. The combined Asset base of State Bank of India after merger with associate
banks and BMB is?
A) Rs 25 lakh crore
B) Rs 30 lakh crore
C) Rs 37 lakh crore
D) Rs 50 lakh crore
View Answer
Option C
2. Total number of customer with State Bank of India after merger after merger
with associate banks and BMB is?
A) 20 crore
B) 25 crore
C) 40 crore
D) 50 crore
View Answer
Option D
3. Total number of branches of State Bank of India after merger is?
A) 15,000
B) 20,000
C) 24,000
D) 30,000
View Answer
Option C
4. Total number of ATMs of State Bank of India after merger is?
A) 45,700
B) 48,700
C) 58,700
D) 62,700

View Answer
Option C
5. What is the minimum balance amount for SBI Account in a Metro City?
A) Rs 1,000
B) Rs 2,000
C) Rs 3,000
D) Rs 5,000
View Answer
Option D
6. What is the minimum balance amount for SBI Account in a Rural Area?
A) Rs 1,000
B) Rs 2,000
C) Rs 3,000
D) Rs 5,000
View Answer
Option A
7. What is the minimum balance amount for SBI Account in an Urban Area?
A) Rs 1,000
B) Rs 2,000
C) Rs 3,000
D) Rs 5,000
View Answer
Option C
8. What is the minimum balance amount for SBI Account in a Semi-Urban City?
A) Rs 1,000
B) Rs 2,000
C) Rs 3,000
D) Rs 5,000

View Answer
Option B
Explanation: For metro cities, the minimum balance is Rs 5,000. In urban,
semi-urban and rural areas, it will be Rs 3,000, Rs 2,000 and Rs 1,000,
respectively.
9. What percent stake does the Central Government holds in State Bank of India?
A) 51%
B) 59%
C) 62.22%
D) 66%
View Answer
Option C
Explanation: The central government holds 62.22% stake in the bank as of
March 2017.
10.Which of the following is the first Sate Bank Associate Bank that got merged
with State Bank of India?
A) State Bank of Indore
B) State Bank of Hyderabad
C) State Bank of Travancore
D) State Bank of Saurashtra
View Answer
Option D
Explanation: In 2008- State Bank of Saurashtra
11.Which of the following bank is not regulated by Reserve Bank of India?
A) State Bank of Sikkim
B) IDBI Bank
C) State Bank of Indore
D) State Bank of Travancore
View Answer

Option A
Explanation: State Bank of Sikkim was established in 1968 under the Royal
Proclamation of Chogyal, which is an old law of Sikkim protected by Article
371F of the Constitution of India. It is therefore outside the purview of Bank
Regulation Act and Reserve Bank of India.
12.In Moscow State Bank of India owns 60% shares in Commercial Bank of India,
which bank owns the rest 40%?
A) ICICI Bank
B) HDFC Bank
C) Axis bank
D) Canara Bank
View Answer
Option D
13.In which year Government of India acquired the shares of RBI in State Bank of
India?
A) 2005
B) 2006
C) 2007
D) 2008
View Answer
Option C
Explanation: On 30 June 2007
14.In which year State Bank of India Act was passed?
A) 1934
B) 1945
C) 1955
D) 1957
View Answer
Option C

15.SBI has launched NETC- SBI FASTag. What does N stands for in NETC?
A) Network
B) National
C) Numbered
D) Nominal
View Answer
Option B
Explanation: National Electronic Toll Collection (NETC)- SBI FASTag
1. When a bank borrower, or counter party, fails to meet its payment obligations
regarding the terms agreed with the bank, it is called
A) Credit Risk
B) Operational risk
C) Market Risk
D) Liquidity risk
View Answer
Option A
Some Extra:
When the customers show their inability to pay the loan amounts taken from
bank – is called credit risk
2. When the risk of losses in on- or off-balance sheet positions arise from
movement in market prices, it is called
A) Liquidity risk
B) Systemic risk
C) Market Risk
D) Liquidity risk
View Answer
Option C
Some Extra:
The market is always fluctuating so there are always market risks in the banking
systems. So it can go up and down, and when down banks will charge more
interest rates from the customers.
3. Which of the following is not a major component of Market Risk?
A) Interest rate risk
B) Equity risk
C) Credit risk
D) Foreign exchange risk
View Answer
Option C
The major components of Market risk are::
Interest rate risk
Equity risk
Foreign exchange risk
Commodity risk
4. When there is a risk of loss resulting from inadequate or failed internal

processes, people and systems or from external event, it is called
A) Liquidity risk
B) Systemic risk
C) Operational risk
D) Moral Hazard
View Answer
Option C
Some Extra:
The Basel Committee on Banking Supervision defines operational risk “as the
risk of loss resulting from inadequate or failed internal processes, people and
systems or from external events. This definition includes legal risk, but excludes
strategic and reputation risk.”
5. When the bank is not able to have enough cash to carry out its day-to-day
operations, it is called
A) Liquidity risk
B) Systemic risk
C) Operational risk
D) Liquidity risk

View Answer
Option A
Some Extra:
Liquidity means a bank has the ability to meet payment obligations primarily
from its depositors and has enough money to give loans. So liquidity risk is the
risk of a bank not being able to have enough cash to carry out its day-to-day
operations.
6. When bank’s image and public standing is in doubt and leads to public’s loss of
confidence in a bank, it is called
A) Reputational risk
B) Moral Hazard
C) Operational risk
D) Market risk
View Answer
Option A
Some Extra:
Reputational risk is the risk of damage to a bank’s image and public standing
that occurs due to some dubious actions taken by the bank.
7. When a bank chooses the wrong strategy or follow a long-term business strategy
which might lead to its failure, it is called
A) Credit risk
B) Business risk
C) Operational risk
D) Market risk
View Answer
Option B
8. When the actions can lead to the entire financial system coming to a standstill, it
is called
A) Systematic risk
B) Market risk
C) Equity risk
D) Business risk
View Answer
Option A
Some Extra:
It can also be stated as the possibility that default or failure by one financial
institution can cause domino effects among its counter parties and others,
threatening the stability of the financial system as a whole.
9. What is the risk called when one bank makes the decision about how much risk
to take, while someone else (like government) bears the costs if things go badly?
A) Systematic risk
B) Moral Hazard
C) Equity risk
D) Market risk
View Answer
Option B
Some Extra:
Example:: Too Big Too Fail Banks can fall into these category. Like last year in
India, SBI and ICICI Bank were declared systematically important banks (too
big too fail). So if they fail, government and RBI will provide them support.
10.When there is a financial loss to bank arising from legal suits filed against the
bank or by a bank for applying a law wrongly, it is called
A) Systematic risk
B) Legal Risk
C) Equity risk
D) Market risk
View Answer
Option B
1. Where is the headquarters of BRICS New Development Bank situated?
A) Beijing, China
B) Moscow, Russia
C) Cape Town, South Africa
D) Shanghai, China
View Answer
Option D
Some Extra
The idea for setting up the bank was proposed by India at the 4th BRICS summit
in 2012 held in Delhi.The creation of a new development bank was the main
theme of the meeting.
2. When was South Africa inducted into BRIC (Brazil, Russia, India, China) to
form BRICS?
A) 2009
B) 2011
C) 2008
D) 2010
View Answer
Option D
Some Extra:
BRICS is the acronym for an association of five major emerging national
economies: Brazil, Russia, India, China and South Africa. Originally the first
four were grouped as “BRIC” (or “the BRICs”), before the induction of South
Africa in 2010.
3. When did the BRICS states signed the Agreement on the New Development
Bank, which makes provisions for the legal basis of the bank?
A) 2013
B) 2014
C) 2015
D) 2012
View Answer
Option B
Some Extra:

On 15 July 2014, the first day of the 6th BRICS summit held in Fortaleza,
Brazil, the BRICS states signed the Agreement on the New Development Bank,
which makes provisions for the legal basis of the bank.
In a separate agreement, a reserve currency pool worth $100 bln was set up by
BRICS nations.
July 2014 (Treaty signed)
July 2015 (Treaty in force)
4. Where will the first regional office of the BRICS New Development Bank be set
up?
A) New Delhi, India
B) Johannesburg, South Africa
C) Beijing, China
D) Fortaleza, Brazil
View Answer
Option B
Some Extra:
The government had mandated, that with effect from April 1, 2017, all goods
vehicles of category N2 and N3, have to be fitted with an air conditioning
system for the cabin. Now the last date for trucks to have air conditioned cabins
for drivers, a mandatory norm by the central government, has been extended to
December 31, 2017.
5. What is the initial authorized capital of the BRICS New Development Bank?
A) $50 bn
B) $150 bn
C) $120 bn
D) $100 bn
View Answer
Option D
Some Extra:
The initial authorized capital of the bank is $100 bln divided into 1 mln shares
having a par value of $100,000 each.
6. What is the initial subscribed capital of the BRICS New Development Bank?
A) $50 bn
B) $150 bn
C) $120 bn
D) $100 bn
View Answer
Option A
Some Extra:
The initial subscribed capital of the NDB is $50 bln divided into paid-in shares
($10 bln) and callable shares ($40 bln).
The initial subscribed capital of the bank was equally distributed among the
founding members.
The Agreement on the NDB specifies that the voting power of each member will
be equal to the number of its subscribed shares in the capital stock of the bank
7. Who is the first president of BRICS New Development Bank?
A) Arvind Panagariya
B) Amitabh Kant
C) K.V. Kamath
D) Bibek Debroy
View Answer
Option C
Some Extra:
On 11 May 2015, K. V. Kamath was appointed as the President of the bank.
K.V. Kamath is the
President of New Development Bank
former Independent director at Infosys
former Chairman of ICICI Bank
8. How much is the share of India among the shareholders of BRICS New
Development Bank?
A) 15%
B) 12%
C) 20%
D) 18%
View Answer
Option C
Some Extra:
The current distribution of shares between NDB member countries is equal i.e
20% each for Brazil, Russia, India, China and South Africa.
9. BRICS New Development Bank allow the new member countries to join the
bank , however the BRICS capital share cannot fall below ____.
A) 54%
B) 60%
C) 51%
D) 55%
View Answer
Option D
Some Extra:
The bank will allow new members to join but the BRICS capital share cannot
fall below 55%.
10.For which of the following member countries, did the BRICS New
Development Bank sanctioned its first loan?
A) China
B) India
C) South Africa
D) Brazil
View Answer
Option A
Some Extra:
On 21 December 2016, the NDB signed its first loan agreement. The loan
agreement approving the provision of RMB 525 mln sovereign project loan for
the Bank’s first project in China (Shanghai Lingang Distributed Solar Power
Project) was signed by the Chinese Vice Minister of Finance Shi Yaobin and the
NDB President K.V.Kamath.
1. Which of the following is not true about National Electronic Funds Transfer
(NEFT) system?
A) There is no limit on transaction through NEFT
B) NEFT operates in hourly batches.
C) NEFT is a payment system which facilitates one-to-one funds transfer.
D) Only bank branches which are NEFT enabled, can be a part of the NEFT
funds transfer network.
E) All of the above are correct
View Answer
Option B
Some Extra:
NEFT used to operate in hourly batches.
Om may 8, 2017, the RBI announced that additional 11 settlement batches at
half- hourly intervals will be introduced from July 10 2017 , beginning from
8.30 am till 6.30 pm.
With this, the total number of half hourly settlement batches during the day will
increase to 23.
2. Which of the following is not true about Real Time Gross Settlement (RTGS)
system?
A) The minimum amount that can be received through RTGS is ` 2 lakh.
B) The banks receive the funds in real time as soon as funds are transferred by
the remitting bank.
C) The minimum amount to be remitted through RTGS is ` 2 lakh.
D) RTGS is a payment system which facilitates settlement of funds transfers
individually on an order by order basis.
E) All of the above are correct.
View Answer
Option E
Some Extra:
If maximum limit is Rs 2 lakh, then minimum will also be Rs 2 lakh.
3. Which of the following is not true about Unified Payments Interface (UPI)?
A) UPI is an instant payment system developed by the National Payments
Corporation of India (NPCI).
B) Through UPI, all payments are instant and takes place in banking hours.
C) Under UPI person will have a single identity and password for using multiple
bank accounts.

D) UPI is based on the Immediate Payment Services (IMPS) infrastructure.
E) All of the above are correct.
View Answer
Option B
Some Extra:
UPI is an indigenously developed platform by National Payments Corporation
of India (NPCI) and set up with the support of the Reserve Bank and Indian
Banks Association (IBA).
Through UPI, all payments are instant but it provides 24/7 service, irrespective
of banking hours.
4. Which of the following is not true about Mobile Money Identifier (MMID)?
A) Mobile Money Identifier (MMID) is a seven-digit number, issued by banks
for effecting financial transactions through the user’s mobile phone.
B) The user’s mobile number MMID are uniquely linked with his bank account
number, and is one of the key inputs to facilitate fund transfer.
C) Both the remitter and the beneficiary are required to have their MMIDs to
effect a fund transfer through the mobile phone.
D) A unique MMID and mobile number combination helps in identifying the
beneficiary’s details. A single MMID can be linked to a mobile number.
E) To receive an MMID, the user is required to approach his bank and follow
the necessary procedure for obtaining the number.
View Answer
Option D
Some Extra:
In D) – It should be — Multiple MMIDs can be linked to same mobile number.
If a person has accounts in more than 1 bank, he can use his same mobile
number with all MMIDs
5. Which of the following is not true about Payments Bank?
A) Payments bank can issue ATM/debit cards but not credit cards
B) Initial capital required for a Payments Bank is Rs 100 crore
C) Payments Bank must maintain Cash Reserve Ration (CRR) as decided by
RBI.
D) Payments Bank can give a loan of up to only Rs 1 lakh.

E) Payments Bank can enable transfers and remittances through a mobile phone.
View Answer
Option D
Some Extra:
The banks must maintain CRR, minimum 75% of demand deposits in
government bonds of up to one year and maximum 25% in current and fixed
deposits with other scheduled commercial banks for operational purposes and
liquidity management.
Payments Bank are not allowed to give loans of any amount.
6. Which of the following is not true about Small Finance Bank?
A) Maximum loan size to a single person cannot exceed 10% of total capital
funds; cannot exceed 15% in the case of a group.
B) At least 50% of its loans should constitute loans and advances of up to 25
lakh.
C) Minimum paid-up equity capital requirement of Small Finance Banks is Rs
100 crore.
D) Small Finance banks must have 25% of its branches set up in unbanked
areas.
E) They can set up subsidiaries to undertake non-banking financial service
activities.
View Answer
Option E
Some Extra:
They cannot set up subsidiaries to undertake non-banking financial service
activities.
7. Which of the following is not true about Immediate Payment Service (IMPS)?
A) IMPS offers an instant, 24X7, interbank electronic fund transfer service
through mobile phones.
B) The facility is provided by National Payments Corporation of India through
its existing NFS switch.
C) Internet Banking Account facilitates IMPS to transfer money to any account.
D) To use IMPS, both the account holder and beneficiary needs to have Mobile
Money Identifier (MMID).
E) IMPS allows instant money transfer.
View Answer
Option D
Some Extra:
One can choose the IMPS method to transfer money using net banking, mobile
banking, ATMs or SMSs.D) — As internet banking also facilitates IMPS, so all
internet banking account holders can use IMPS to transfer funds. There are 2
options available here – One is through MMID. And another is through IFSC
Code of bank branch of beneficiary (to whose account amount to be transferred),
in this option MMID of neither is needed to perform transaction.
8. Which of the following is not true about National Automated Clearing House
(NACH)?
A) It is a centralised clearing system launched by the National Payments
B) It aims to replace and consolidate multiple existing Electronic Clearing
Service (ECS) systems across India
C) NACH platform has been created to replace the Electronic Clearing Service
(ECS) system
D) NACH have the same day presentation and settlement, including returns
processing.
E) All of the above are true.
View Answer
Option E
Some Extra:
In Electronic Clearing Services (ECS), presentation and settlement is spread
over 3-4 day period.
There are three types of ECS: Local ECS, Regional ECS, National ECS.
NACH is a centralised system, launched with an aim to consolidate multiple
ECS systems running across the country and provides a framework for the
harmonization of standard & practices and removes local barriers/inhibitors.
9. Which of the following is not true about Bharat Interface for Money (BHIM)
app?
A) BHIM is a digital payments solution app, for easy and quick transactions,
based on the Unified Payments Interface (UPI) from the National Payments
B) Money can also be sent to non-UPI supported banks using IFSC code and
account number.
C) BHIM allows daily transaction limit of Rs 20,000.
D) Through BHIM app, a maximum of Rs 5,000 is allowed per transaction.
E) BHIM framework allows its usage without internet also.
View Answer
Option D
Some Extra:
Bharat Interface for Money (BHIM) provides fast, secure, reliable medium to
make digital payments through your mobile phone using UPI (Unified Payment
Interface) platform via Mobile App and USSD (Unstructured Supplementary
Service Data) platform via *99# service.
In a day (24 hours), a maximum of Rs 20,000 can be transferred, and a single
transaction allows maximum of Rs 10,000 to be transferred.
BHIM framework allows its usage without internet also. – thorugh SMS –
BHIM framework *99# works without internet.
The limit for USSD has currently been set at Rs. 5,000 per day.
10.Which of the following is not true about Aadhaar-enabled payment system
(AEPS)?
A) AEPS enables bank customers to access their Aadhaar-linked bank accounts
through the Aadhaar authentication.
B) For a transaction through AEPS, only Aadhaar number and fingerprint
captured during the enrolment are required.
C) AEPS allows inter-operability among different systems adopted by different
banks in a safe and secured manner.
D) AEPS is aimed at empowering the marginalised and excluded segments to
conduct financial transactions through micro ATMs deployed by banks in
villages.
E) Customers can find out their account balance, deposit cash, withdraw money
and transfer funds to other Aadhaar-linked bank accounts through the help of
business correspondents of the bank they have account in.
View Answer
Option E
Some Extra:
Aadhaar Enabled Payment System or AEPS is a new payment service offered by
the National Payments Corporation of India to banks, financial institutions using
Aadhaar number and online UIDAI authentication through their respective
Business correspondent service centres.
AEPS allows four types of banking transactions: Balance Enquiry, Cash
Withdrawal, Cash Deposit, and Aadhaar to Aadhaar Funds Transfer
E) Customers can find out information and do transfer of funds through the
help of business correspondents of any bank.
1. Which of the following is the helpline number to address consumer queries on
digital payments?
A) 15555
B) 14444
C) 18888
D) 19999
View Answer
Option B
Some Extra:
The government, in collaboration with telecom and IT industry, launched a toll-
free helpline – 14444 – to address consumer queries on digital payments in
January 2017.
The helpline was launched aiming at addressing questions regarding various
platforms, including the newly-launched Bharat Interface for Money (BHIM), e-
Wallets, Aadhaar-enabled payment system and USSD.
2. ‘Eazypay’, India’s first mobile app for merchants to accept payments on mobile
phone through multiple digital modes belongs to which bank?
A) Federal Bank
B) Dhanalakshmi Bank
C) Yes Bank
D) ICICI Bank
View Answer

Option D
Some Extra:
A first-of-its kind application, ‘Eazypay’ offers customers the improved
convenience of paying by using their mobile phone through Unified Payment
Interface (UPI), any credit / debit card & internet banking, and ‘Pockets’, digital
wallet of ICICI Bank.
3. Which of the following banks launched its digibank, India’s first mobile-only
bank in 2016?
A) HDFC Bank
B) HSBC
C) DBS Bank
D) RBL Bank
View Answer
Option C
Some Extra:
DBS Bank, Singapore’s largest bank and a leading bank in Asia, officially
unveiled digibank, India’s first mobile-only bank.
digibank is India’s first paperless, signatureless, branchless bank.
4. Which of the following banks created history in August 2015 by launching
India’s first Mobile App for Bank Account opening?
A) Axis Bank
B) Federal Bank
C) South Indian Bank
D) HDFC Bank
View Answer
Option B
Some Extra:
In August 2015, creating history, Federal Bank launched India’s first Mobile
App for Bank Account Opening. Bank introduced this unique facility of Mobile
based Bank Account Opening as an upgrade to FedBook, its e-Passbook App.
With the new avatar of FedBook, anyone having an Aadhaar Card and PAN
Card, can open a Savings Bank Account and get their Account Number instantly
using a mobile from anywhere.

5. LIME, the country’s first mobile app that offers Wallet, Shopping, Payments &
Banking belongs to which of the following banks?
A) Axis Bank
B) Yes Bank
C) HDFC Bank
D) ICICI Bank
View Answer
Option A
Some Extra:
LIME act as an independent app, empowering any person to open individual,
shared mobile wallets and make seamless peer to peer as well as online, offline
merchant payments.
6. Which of the following banks launched country’s first automated teller machine
(ATM) which can be operated independently by a visually impaired person,
know as ‘Talking ATM’?
B) Union Bank of India
C) Bank of Baroda
D) Bank of India
View Answer
Option B
Some Extra:
Country’s first automated teller machine (ATM) which can be operated
independently by a visually impaired person, know as ‘Talking ATM’ was
installed at the premises of the Blind People’s Association (BPA) in Ahmedabad
by the Union Bank of India (UBI).
7. Airtel Payments Bank launched India’s first online debit card along with a
prepaid card with which of the following?
A) Standard Chartered
B) Mastercard
C) VISA
D) NPCI

View Answer
Option B
Some Extra:
Airtel Payments Bank and Mastercard, a leading global payments and
technology firm has launched India’s first online debit card along with a prepaid
card, both accessible via the Myairtel App.
The online debit card will enable customers of Airtel Payments Bank to make
digital payments at over 100,000 online merchants.
8. Which of the following Payments Bank is the first one to start giving its services
in India?
A) Paytm Payments Bank
B) India Post Payments Bank
C) Airtel Payments Bank
D) Fino Payments Bank
View Answer
Option C
9. PhonePe, a Flipkart Group company, with which of the following banks
launched India’s first UPI (Unified Payments Interface) based mobile payments
app?
A) Yes Bank
B) ICICI Bank
C) Bank of Baroda
D) United Bank of India
View Answer
Option A
Some Extra:
Mobile payments start-up PhonePe Internet Pvt. Ltd, which is owned by
Flipkart, in partnership with private lender Yes Bank launched unified payments
interface (UPI) based payments app.
PhonePe allows users to link their bank accounts securely to their smartphone
using National Payments Corporation of India’s encrypted libraries.

10.Name the head of committee on Digital Payments constituted by the Ministry of
Finance, Department of Economic Affairs to review the payment systems in the
country?
A) N.S. Viswanathan
B) Ratan P. Watal
C) Sudarshan Sen
D) Chandrababu Naidu
View Answer
Option B
Some Extra:
The Ministry of Finance, Department of Economic Affairs had constituted a
Committee on Digital Payments to review the payment systems in the country
and to recommend appropriate measures for encouraging Digital Payments.
The Committee was constituted on 23rd August 2016 under the Chairmanship of
Shri. Ratan P. Watal, Principal Advisor, NITI Aayog and former Finance
Secretary to the Government of India.
1. Which of the following is the class of derivative whose value is at least partly
derived from one or more underlying stock exchange securities? [Asked in SBI
PO Main 2017 Exam]
A) Trade Derivative
B) Equity Derivative
C) Interest Rate Derivative
D) Commodity Derivative
View Answer
Option B
Some Extra:
In finance, an equity derivative is a class of derivatives whose value is at least
partly derived from one or more underlying equity securities.
Equity options are the most common type of equity derivative.
2. Which of the following is the class of derivative designed to separate and then
transfer the risk of default on a debt that may arise from a borrower failing to
make required payments?
A) Property Derivative
B) Interest Rate Derivative
C) Credit Derivative
D) Commodity Derivative
View Answer
Option C
Some Extra:
In finance, a credit derivative refers to any one of “various instruments and
techniques designed to separate and then transfer the credit risk” or the risk of
an event of default of a corporate or sovereign borrower, transferring it to an
entity other than the lender or debtholder.
3. Which of the following is the class of derivative whose payments are
determined through calculation techniques where the underlying benchmark
product is an interest rate, or set of different interest rates?
A) Equity Derivative
B) Inflation Derivative
C) Credit Derivative
D) Interest Rate Derivative
View Answer
Option D
Some Extra:
In finance, an interest rate derivative (IRD) is a derivative whose payments are
determined through calculation techniques where the underlying benchmark
product is an interest rate, or set of different interest rates. There are a multitude
of different interest rate indices that can be used in this definition.
4. Which of the following is the class of derivative where the underlying assets are
products like precious metals, agro products, energy products, etc?
A) Freight Derivative
C) Commodity Derivative
View Answer

Option C
Some Extra:
An exchange traded derivative or over the counter derivative with an underlying
reference based on nonfinancial commodities including chemicals, energy, base
and precious metals, livestock, grains, and softs is known as Commodity
Derivative.
For example, commodity derivatives are used by farmers and millers to provide
a degree of “insurance.”
5. Which of the following is the class of derivative which refers to an over-the-
counter and exchange-traded derivative that is used to transfer inflation risk
from one counterparty to another?
C) Weather Derivative
View Answer
Option B
Some Extra:
In finance, inflation derivative (or inflation-indexed derivatives) refers to an
over-the-counter and exchange-traded derivative that is used to transfer inflation
risk from one counterparty to another.
6. Which of the following is the class of derivative where these financial
instruments can be used by organizations or individuals as part of a risk
management strategy to reduce risk associated with adverse conditions?
B) Property Derivative
C) Commodity Derivative
D) Weather Derivative
View Answer
Option D
Some Extra:
Weather derivatives are financial instruments that can be used by organizations

or individuals as part of a risk management strategy to reduce risk associated
with adverse or unexpected weather conditions.
7. Which of the following group of derivatives contracts are traded directly
between two parties, without going through an exchange or other intermediary?
A) Exchange-traded derivatives
B) Common-market derivatives
C) Over-the-counter derivatives
D) Forwards-exchange derivatives
View Answer
Option C
Some Extra:
Over-the-counter (OTC) derivatives are contracts that are traded (and privately
negotiated) directly between two parties, without going through an exchange or
other intermediary.
8. Which of the following group of derivatives contracts are traded via specialized
derivatives exchanges or other exchanges?
A) Exchange-traded derivatives
B) Common-market derivatives
C) Over-the-counter derivatives
D) Forwards-exchange derivatives
View Answer
Option A
Some Extra:
A derivatives exchange is a market where individuals trade standardized
contracts that have been defined by the exchange. A derivatives exchange acts
as an intermediary to all related transactions, and takes initial margin from both
sides of the trade to act as a guarantee.
There are two groups of derivative contracts, which are distinguished by the
way they are traded in the market — Over-the-counter (OTC) derivatives and
Exchange-traded derivatives.
9. Which of the following is a term used for a tailored contract between two
parties, where payment takes place at a specific time in the future at today’s pre-
determined price?
A) Swaps
B) Forwards
C) Futures
D) Options
View Answer
Option B
Some Extra:
In finance, a forward contract or simply a forward is a non-standardized contract
between two parties to buy or to sell an asset at a specified future time at a price
agreed upon today, making it a type of derivative instrument
10.Which of the following is a term used for a contract to buy or sell an asset on a
future date at a price specified today?
A) Swaps
B) Forwards
C) Futures
D) Options
View Answer
Option C
Some Extra:
In finance, a futures contract (more colloquially, futures) is a standardized
forward contract, a legal agreement to buy or sell something at a predetermined
price at a specified time in the future.
1. When was the Insolvency and Bankruptcy Board of India set up?
A) April 1, 2016
B) July 1, 2016
C) October 1, 2016
D) June 1, 2016
View Answer
Option C
Some Extra:

The Insolvency and Bankruptcy Board of India was established on October 1,
2016 in accordance with the provisions of The Insolvency and Bankruptcy
Code, 2016.
2. When was the Insolvency and Bankruptcy Code (IBC) passed by the Lok
Sabha?
A) 2016
B) 2015
C) 2014
D) 2013
View Answer
Option A
Some Extra:
The Insolvency and Bankruptcy Code, 2015 was introduced in Lok Sabha in
December 2015. It was passed by Lok Sabha on 5 May 2016.
3. What does NCLT stand for in the context of the insolvency code?
A) National Company Liquidation Tribunal
B) National Corporate Liquidation Tribunal
C) National Company Law Tribunal
D) None of these
View Answer
Option C
Some Extra:
The Central Government has constituted National Company Law Tribunal
(NCLT) under section 408 of the Companies Act, 2013 (18 of 2013) w.e.f. 01st
June 2016.
4. What is the aim of the Insolvency and Bankruptcy Code?
A) It aims to clean up the balance sheets of public sector banks
B) It aims to overhaul the existing framework for dealing with insolvency of
corporations, individuals, partnerships and other entities.
C) It aims to liquidate all outstanding debts and clean up bank balance sheets
D) All of the above
View Answer
Option B
5. What is the minimum default required to initiate insolvency procedure for
corporate debtors under the Insolvency and Bankruptcy Code?
A) Rs 2,00,000
B) Rs 5,00,000
C) Rs 3,00,000
D) Rs 1,00,000
View Answer
Option D
6. In case of individual defaulters and unlimited partnerships, the minimum

amount required for attracting the insolvency code is
A) Rs 1,000
B) Rs 2,000
C) Rs 5,000
D) Rs 10,000
View Answer
Option A
7. The Insolvency and Bankruptcy Code was drafted by whom?
A) Securities and Exchange Board of India
B) Reserve Bank of India
C) Bankruptcy Law Reforms Committee
D) Indian Banks’ Association
View Answer
Option C
Some Extra:
Former Union law secretary T K Viswanathan was the key architect of the
Insolvency and Bankruptcy Code, as chairman of the Bankruptcy Law Reforms
Committee which produced the report in this regard.
8. For corporate debtors, the Insolvency and Bankruptcy Code proposes a two
stage process. Which one of the following is not one of them?
A) Debt restructuring
B) Liquidation, if not found viable
C) Insolvency Resolution Process during which the viability of continuing the
business is assessed
D) None of these
View Answer
Option A
9. Under the Insolvency and Bankruptcy Code (IBC), distribution of the

liquidation proceeds priority has been set as:
1. Insolvency resolution cost
2. Secured debt and Workmen’s dues for the past
3. Employees dues
4. Unsecured debt
5. Government dues
A) 3, 1, 4, 5, 2
B) 1, 2, 3, 4, 5
C) 2, 4, 1, 3, 5
D) 4, 3, 1, 2, 5
View Answer
Option B
10.Which of the following steps is not a part of Insolvency Resolution Process

under the Insolvency and Bankruptcy Code (IBC)?
A) Appointment of a creditors’ committee and formulation of a revival plan
B) Appointments of a resolution professional
C) Moratorium on the sale of assets
D) Liquidation of assets
View Answer
Option D
1. Where is Centre for Advanced Financial Research and Learning (CAFRAL)
situated?
A) Jaipur
B) Ahmedabad
C) Pune
D) Mumbai
View Answer
Option D
Explanation:
The Centre for Advanced Financial Research and Learning (CAFRAL) is an
independent body set up by the Reserve Bank of India (RBI) in the backdrop of
India’s evolving role in the global economy, in the financial services sector and
its position in various international fora, and to develop into a world class global
institution for research and learning in banking and finance.
The Governor of RBI is the Chairman of the Governing Council of CAFRAL.
2. Where is College of Agricultural Banking (CAB) situated?
A) Pune
B) Hyderabad
C) Mumbai
D) Bengaluru
View Answer
Option A
Explanation:
College of Agricultural Banking is an ISO 9001: 2008 Certified Training
Institute of Reserve Bank of India.
In keeping up with its developmental mandate seldom seen in the Central
Banking circle across the globe, Reserve Bank of India (RBI) established the
Co-operative Bankers Training College (CBTC) at Pune on September 29, 1969
to train the higher level personnel of State, Central and Urban Co-operative
Banks.
3. Where is Indira Gandhi Institute of Development Research situated?
A) Nashik
B) Mumbai
C) New Delhi

D) Gurugram
View Answer
Option B
Explanation:
Mumbai
Indira Gandhi Institute of Development Research (IGIDR), Mumbai is an
advanced research institution established by The Reserve Bank of India in 1987
on the occasion of its golden jubilee. The Institute’s mission is to carry out
research on developmental issues from a multi-disciplinary point of view. It has
one of the largest Social Sciences libraries in Asia. The institute has an
M.Phil./Ph.D. programme in Development Studies and also an MSc programme
in Economics.
4. Where is Institute for Development and Research in Banking Technology
(IDRBT) situated?
A) Mumbai
B) Mangalore
C) Hyderabad
D) Bhopal
View Answer
Option C
Explanation:
The Institute for Development & Research in Banking Technology (IDRBT) is a
unique institution exclusively focused on Banking Technology. Established by
the Reserve Bank of India (RBI) in 1996, the Institution works at the
intersection of Banking and Technology. It is located in Hyderabad, India.
5. Where is Joint India-IMF Training Programme (ITP) centre situated?
A) Pune
B) Vadodara
C) Bhopal
D) Kolkata
View Answer

Option A
Explanation:
Pune
Launched on May 1, 2006, the Joint India-IMF Training Programme (ITP) is a
cooperative venture of the International Monetary Fund (IMF) and the Reserve
Bank of India (RBI).
6. Where is National Centre for Finance Education (NCFE) situated?
A) Gurugram
B) Nashik
C) Mumbai
D) Noida
View Answer
Option C
Explanation:
The National Centre for Financial Education (NCFE), comprising
representatives from all financial sector regulators i.e. Reserve Bank of India
(RBI), Securities Exchange Board of India (SEBI), Insurance Regulatory and
Development Authority of India (IRDAI), Pension Fund Regulatory and
Development Authority (PFRDA) and National Institute of Securities Markets
(NISM), has been set up to implement National Strategy for Financial Education
(NSFE), under the guidance of a Technical Group on Financial Inclusion and
Financial Literacy of the Financial Stability and Development Council (FSDC),
which would cater to all sections of the population in the country.
7. Where is National Institute of Bank Management (NIBM) situated?
A) Noida
B) Nashik
C) Pune
D) New Delhi
View Answer
Option C
Explanation:
National Institute of Bank Management (NIBM) is an Indian institution for

research, training and consultancy in banking and finance. It is located in Pune.
The campus is self-contained, with residential and educational facilities.
8. Where is LSE India Observatory situated?
A) Russia
B) Japan
C) USA
D) UK
View Answer
Option D
Explanation:
The India Observatory, set up in 2006, is a Centre to develop and enhance
research and programmes related to India’s economy, politics and society.
The IG Patel Chair and the India Observatory (IO) were established in 2006, in
partnership with the Reserve Bank of India (RBI) and the State Bank of India
(SBI), in honour of Dr IG Patel, a greatly distinguished Indian and
internationally renowned economist and public servant. He had been Director of
LSE (1984 – 1990) and Governor of the RBI (1977 – 1982).
LSE – London School of Economics.
9. Where is Bankers’ Institute of Rural Development (BIRD) situated?

A) Noida
B) Nashik
C) Pune
D) Lucknow
View Answer
Option D
1. What is the metric which defines operating liquidity available to business known
as? [Asked in SBI PO Main 2017 Exam]
A) Quick ratio
B) Accounts payable turnover
C) Working capital
D) Cash conversion cycle

View Answer
Option C
Some Extra:
The liquidity metric Working capital is defined simply as the difference between
two Balance sheet figures:
Working capital = Current assets – Current liabilities
2. What is the metric that measures the ability of a company to use its near cash or
quick assets to extinguish or retire its current liabilities immediately known as?
A) Acid test ratio
B) Current ratio
C) Overtrading
View Answer
Option A
Some Extra:
In finance, the acid-test or quick ratio or liquidity ratio measures the ability
of a company to use its near cash or quick assets to extinguish or retire its
current liabilities immediately.
3. What is the metric that measures whether or not a firm has enough resources to
meet its short-term obligations known as?
A) Acid test ratio
B) Current ratio
C) Overtrading
D) Financial accounting
View Answer
Option B
Some Extra:
The current ratio is called “current” because, unlike some other liquidity ratios,
it incorporates all current assets and liabilities.
The current ratio is also known as the working capital ratio.
Current Ratio = Current Assets / Current Liabilities
4. What is the metric that measures how long a firm will be deprived of cash if it
increases its investment in resources in order to expand customer sales known
as?
A) Quick ratio
B) Accounts payable turnover
C) Days payable outstanding
View Answer
Option D
Some Extra:
In management accounting, the Cash conversion cycle (CCC) measures how
long a firm will be deprived of cash if it increases its investment in resources in
order to expand customer sales. It is thus a measure of the liquidity risk entailed
by growth.
5. What is the metric that measures the number of times that a firm pays off its
suppliers during the accounting period known as?
A) Accounts payable turnover
B) Financial accounting
View Answer
Option A
Some Extra:
The accounts payable turnover ratio is a short-term liquidity measure used to
quantify the rate at which a company pays off its suppliers. Accounts payable
turnover ratio is calculated by taking the total purchases made from suppliers, or
cost of sales, and dividing it by the average accounts payable amount during the
same period.
6. What is the metric that measures the average number of days the company takes
to payoff outstanding bills known as?
A) Accounts payable turnover
B) Financial accounting
D) Quick ratio
View Answer
Option C
Some Extra:
Days payable outstanding (DPO) is an efficiency ratio that measures the average
number of days a company takes to pay its suppliers.
7. What is the metric that measures a company’s ability to meet its financial
obligations known as?
A) Market Ratio
B) Debt Ratio
C) Coverage Ratio
D) Asset Coverage Ratio
View Answer
Option C
Some Extra:
The coverage ratio is a measure of a company’s ability to meet its financial
obligations. In broad
terms, the higher the coverage ratio, the better the ability of the enterprise to
fulfill its obligations to its lenders.
8. What is the test that determines a company’s ability to cover debt obligations
with its assets after all liabilities have been satisfied known as?
A) Key Ratio
B) Debt Ratio
C) Coverage Ratio
D) Asset Coverage Ratio
View Answer
Option D
9. What is the ratio that measures the extent of a company’s or consumer’s

leverage known as?
A) Key Ratio
B) Debt Ratio
C) Quick Ratio
D) Leverage Ratio
View Answer
Option B
Some Extra:
It is a financial ratio that measures the extent of a company’s or consumer’s
leverage. The debt ratio is defined as the ratio of total – long-term and short-
term – debt to total assets, expressed as a decimal or percentage.
10.What is the measurement that look at how much capital comes in the form of
debt (loans), or assesses the ability of a company to meet financial obligations
known as?
A) Key Ratio
B) Debt Ratio
C) Quick Ratio
D) Leverage Ratio
View Answer
Option D
Some Extra:
Leverage ratio in simple terms is the relation between the amount of equity that
a company has and the amount of debt that it is carrying in its books. It is a
measurement of the capacity of the company to meet its financial obligations.
1. National Housing Bank (NHB), a wholly owned subsidiary of Reserve Bank of
India (RBI), was set up under which of the following acts?
A) Banking Regulation Act, 1949
D) National Housing Bank Act, 1987
View Answer
Option D
Some Extra:

National Housing Bank (NHB), a wholly owned subsidiary of Reserve Bank of
India (RBI), was set up on 9 July 1988 under the National Housing Bank Act,
1987. Established under Section 3 of National Housing Bank Act, 1987.
NHB is an apex financial institution for housing. NHB has been established with
an objective to operate as a principal agency to promote housing finance
institutions both at local and regional levels and to provide financial and other
support incidental to such institutions and for matters connected therewith.
2. Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL), a wholly

owned subsidiary of Reserve Bank of India (RBI), was set up under which of the
following acts?
View Answer
Option C
Some Extra:
Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL) was
established by Reserve Bank of India (RBI) as its wholly owned subsidiary on
3rd February 1995 with a view to augmenting the production of bank notes in
India to enable the RBI to bridge the gap between the supply and demand for
bank notes in the country.
The BRBNMPL has been registered as a Private Limited Company under the
Companies Act 1956 with its Registered and Corporate Office situated at
Bengaluru. The company manages 2 Presses one at Mysore in Karnataka and the
other at Salboni in West Bengal.
3. National Bank for Agriculture and Rural Development (NABARD), a wholly

owned subsidiary of Reserve Bank of India (RBI), was set up under which of the
following acts?
B) National Bank for Agriculture and Rural Development Act 1981

D) National Bank for Agriculture and Rural Development Act 1987
View Answer
Option B
Some Extra:
National Bank for Agriculture and Rural Development (NABARD) is an apex
development financial institution in India, headquartered at Mumbai with
branches all over India.
NABARD was established on the recommendations of B.Sivaraman Committee,
(by Act 61, 1981 of Parliament) on 12 July 1982 to implement the National
Bank for Agriculture and Rural Development Act 1981.
4. Deposit Insurance and Credit Guarantee Corporation (DICGC), a wholly owned
subsidiary of Reserve Bank of India (RBI), was set up under which of the
following acts?
B) Companies Act, 1956
C) Deposit Insurance and Credit Guarantee Corporation Act, 1961
D) Deposit Insurance and Credit Guarantee Corporation Act, 1951
View Answer
Option C
Some Extra:
Deposit Insurance and Credit Guarantee Corporation (DICGC) is a subsidiary of
Reserve Bank of India. It was established on 15 July 1978 under Deposit
Insurance and Credit Guarantee Corporation Act, 1961 for the purpose of
providing insurance of deposits and guaranteeing of credit facilities. DICGC
insures all bank deposits, such as saving, fixed, current, Recurring_deposit for
up to the limit of Rs. 100,000 of each deposits in a bank.
5. Bank Note Paper Mill India Private Limited was incorporated under which of
the following acts?
D) Companies Act, 2013

View Answer
Option B
Some Extra:
Bank Note Paper Mill India Private Limited has been incorporated and
registered on October 13, 2010 by Registrar of Companies, Bangalore under the
Companies Act 1956 with its registered and Corporate Office at Mysuru,
Karnataka
6. National Payments Corporation of India (NPCI) has been incorporated under the
provisions of Section 25 of which act?
View Answer
Option B
Some Extra:
National Payments Corporation of India (NPCI) is the umbrella organisation for
all retail payment systems in India, which aims to allow all Indian citizens to
have unrestricted access to e-payment services.
Founded in 2008, NPCI, has been incorporated as a “Not for Profit” Company
under the provisions of Section 25 of Companies Act 1956 (now Section 8 of
Companies Act 2013).
7. National Payments Corporation of India (NPCI) is an initiative of Reserve Bank

of India (RBI) and Indian Banks’ Association (IBA) under the provisions of?
View Answer
Option D
Some Extra:
National Payments Corporation of India (NPCI), an umbrella organisation for
operating retail payments and settlement systems in India, is an initiative of
Reserve Bank of India (RBI) and Indian Banks’ Association (IBA) under the
provisions of the Payment and Settlement Systems Act, 2007, for creating a
robust Payment & Settlement Infrastructure in India.
8. A Non Banking Financial Company (NBFC) is registered under which of the
following acts?
View Answer
Option B
Some Extra:
A Non Banking Financial Company (NBFC) is a company registered under the
Companies Act, 1956 of India, engaged in the business of loans and advances,
acquisition of shares, stock, bonds hire-purchase, insurance business or chit
business but does not include any institution whose principal business includes
agriculture, industrial activity or the sale, purchase or construction of
immovable property.
In India, the working and operations of NBFCs are regulated by the Reserve
Bank of India (RBI).
9. A Payments Banks is licensed as payments banks under which of the following

acts?
B) Payment and Settlement Systems Act, 2007
View Answer
Option C
Some Extra:
The banks will be licensed as payments banks under Section 22 of the Banking
Regulation Act, 1949.
Small Finance Banks are also licensed under Section 22 of the Banking
Regulation Act, 1949.
10.A Payments Bank is registered as public limited company under which of the
following acts?
View Answer
Option A
Some Extra:
Small Finance Banks are also registered under Companies Act, 2013
1. The Securities and Exchange Board of India was established in accordance with
the provisions of which of the following acts?
A) Securities and Exchange Board of India Act, 1974
B) Securities and Exchange Board of India Act, 1992
C) Securities and Exchange Board of India Act, 1999
D) Securities and Exchange Board of India Act, 1985
View Answer
Option B
Some Extra:
The Securities and Exchange Board of India was established on April 12, 1992
in accordance with the provisions of the Securities and Exchange Board of India
Act, 1992.
2. Security Printing and Minting Corporation of India Limited (SPMCIL) was

incorporated under which of the following acts?

View Answer
Option C
Some Extra:
Security Printing and Minting Corporation of India Limited (SPMCIL) was
formed after corporatisation of nine units including four mints, four presses and
one paper mill which were earlier functioning under the Ministry of Finance.
The Company was incorporated on 13.01.2006 under the Companies Act, 1956
with its headquarters at New Delhi.
SPMCIL, a Miniratna Category-I CPSE, and wholly owned Schedule ‘A’
Company of Government of India, is engaged in the manufacture of security
paper, minting of coins, printing of currency and bank notes, non-judicial stamp
papers, postage stamps, travel documents, etc.
3. Small Industries Development Bank of India (SIDBI) is established and

incorporated under Section 3 which of the following acts?
A) Small Industries Development Bank of India Act 1989
B) Small Industries Development Bank of India Act 1981
D) Companies Act, 2013
View Answer
Option A
Some Extra:
National Bank for Agriculture and Rural Development (NABARD) is an apex
development financial institution in India, headquartered at Mumbai with
branches all over India.
NABARD was established on the recommendations of B.Sivaraman Committee,
(by Act 61, 1981 of Parliament) on 12 July 1982 to implement the National
Bank for Agriculture and Rural Development Act 1981.
4. As per the advisory of the Reserve Bank of India, only non-bank entities
authorised by it under the ______________________ can issue Pre-paid
Payment Instrument (PPI) wallets.

View Answer
Option D
Some Extra:
On March 31, 2017, RBI issued advisory on E-wallets.
It told the users of Pre-paid Payment Instruments (PPIs), including mobile and
electronic wallets, that only non-bank entities authorised by it under the
Payment and Settlement Systems Act, 2007 can issue PPI wallets for purchase
of goods and services from third parties and money transfer within India.
5. Export–Import Bank of India was incorporated under which of the following
acts?
A) Export-Import Bank of India Act 1981
B) Export-Import Bank of India Act 1982
C) Export-Import Bank of India Act 1984
D) Export-Import Bank of India Act 1985
View Answer
Option A
Some Extra:
Export–Import Bank of India is the premier export finance institution in India,
established in 1982 under Export-Import Bank of India Act 1981.
6. Micro Units Development & Refinance Agency Ltd. is registered as a company

under which of the following acts?
View Answer
Option A
Some Extra:
The Union Budget presented by the Finance Minister Shri Arun Jaitley, for FY

2015-16, announced the formation of MUDRA Bank. Accordingly MUDRA
was registered as a Company in March 2015 under the Companies Act 2013 and
as a Non Banking Finance Institution with the RBI on 07 April 2015.
7. The Insurance Regulatory and Development Authority of India (IRDAI) was

constituted by which of the following acts?
C) Insurance Regulatory and Development Authority Act, 1995
D) Insurance Regulatory and Development Authority Act, 1999
View Answer
Option D
Some Extra:
The Insurance Regulatory and Development Authority of India (IRDAI) is an
autonomous, statutory agency tasked with regulating and promoting the
insurance and re-insurance industries in India. It was constituted by the
Insurance Regulatory and Development Authority Act, 1999, an Act of
Parliament passed by the Government of India. The agency’s headquarters are in
Hyderabad, Telangana, where it moved from Delhi in 2001.
1. What is the market structure called that is characterized by a single seller,
selling a unique product in the market?
A) Oligopoly
B) Libor
C) Monopoly
D) Normation
View Answer
Option C
Some Extra:
Monopoly is when the production of a good or service with no close substitutes
is carried out by a single firm with the market power to decide the price of its
output.

2. What is the term called for a market structure in which only a few sellers offer
similar or identical products? (asked in IBPS PO Mains 2017)
A) Offshore
B) Libor
C) Monopoly
D) Oligopoly
View Answer
Option D
Some Extra:
Oligopoly is a market structure in which a small number of firms has the large
majority of market share. An oligopoly is similar to a monopoly, except that
rather than one firm, two or more firms dominate the market.
3. What is the market structure called in which the market is dominated by a single
buyer?
A) Micropony
B) Monopsony
C) Monopcoly
D) Microsony
View Answer
Option B
Some Extra:
A monopsonist has the market power to set the price of whatever it is buying
(from raw materials to labour).
4. What is the study of how households and firms make decisions and how they
interact in markets called?
A) Macroeconomics
B) Welfare Economics
C) Microeconomics
D) Market Economy
View Answer

Option C
Some Extra:
Microeconomics is the study of the individual pieces that together make an
economy; is the science of how people make decisions at the small scale.
Microeconomics considers issues such as how households reach decisions about
consumption and saving, how firms set a price for their output, whether
privatisation improves efficiency, whether a particular market has enough
competition in it and how the market for labour works.
5. What is the study of economy wide phenomena, including inflation,
unemployment, and economic growth called?
A) Macroeconomics
C) Microeconomics
D) Market Economy
View Answer
Option A
Some Extra:
Macroeconomics studies large-scale economic decisions. For example, a whole
country’s economy (or, its economic output) is summarised by the GDP (gross
domestic product). Many governments use macroeconomic ideas to decide how
much tax to collect and what interest rates should be.
6. What is the study of how the allocation of resources affects economic well being
called?
A) Supply Side Economics
C) Microeconomics
D) Market Economy
View Answer
Option B
Some Extra:
Welfare economics is a branch of economics that uses microeconomic
techniques to evaluate well-being (welfare) at the aggregate (economy-wide)
level.

7. What is the branch of economics that concentrates on measures to increase
output of goods and services in the long run called?
A) Free-market Economics
B) True-cost Economics
C) Microeconomics
D) Supply Side Economics
View Answer
Option D
Some Extra:
Supply-side economics is a macroeconomic theory that argues economic growth
can be most effectively created by lowering taxes and decreasing regulation.
8. What is the term which refers to an economy where the government imposes
few or no restrictions and regulations on buyers and sellers?
A) Free-market Economy
B) True-cost Economy
C) Socialist Economy
D) Command Economy
View Answer
Option A
Some Extra:
Free market refers to an economy where the government imposes few or no
restrictions and regulations on buyers and sellers. In a free market, participants
determine what products are produced, how, when and where they are made, to
whom they are offered, and at what price—all based on supply and demand.
9. What is the term which refers to a system where the government, rather than the
free market, determines what goods should be produced, how much should be
produced and the price at which the goods are offered for sale?
A) Free-market Economy
B) True-cost Economy
D) Command Economy
View Answer
Option D
Some Extra:
The command economy is a key feature of any communist society.
10.What is the original economic system in which traditions, customs, and beliefs
help shape the goods and the services the economy produces, as well as the rules
and manner of their distribution called?
A) Constitutional Economy
B) Traditional Economy
D) Monetary Economy
View Answer
Option B
Some Extra:
Traditional economy is an original economic system in which traditions,
customs, and beliefs help shape the goods and the services the economy
produces, as well as the rules and manner of their distribution. Countries that use
this type of economic system are often rural and farm-based.
1. What is the rate of interest offered by Post Office Saving Bank?
A) 5%
B) 4.5%
C) 4%
D) 5.5%
View Answer
Option C
Some Extra:
Monopoly is when the production of a good or service with no close substitutes
is carried out by a single firm with the market power to decide the price of its
output.
2. What is the minimum amount required to get open a Savings Account in Post
Office?
A) Account can be opened with Nil Amount
B) Rs 10
C) Rs 50
D) Rs 20
View Answer
Option D
Some Extra:
Rs 20
There is no maximum limit to be deposited in Account.
3. In case of a Savings Account in Post Office, what maximum amount of interest

earned per year on deposited money is tax free?
A) Rs 5,000
B) Rs 10,000
C) Rs 12,000
D) Rs 8,000
View Answer
Option B
Some Extra:
Up to INR 10,000/- per year from financial year 2012-13
4. To avail the facility of Cheque in Savings Account in Post office, what
minimum amount is required to get open an account?
A) Rs 500
B) Rs 100
C) Rs 1000
D) Rs 200
View Answer
Option A
Some Extra:
In case of a savings account, it is Rs 20. And to avail cheque facility for the
same account, it is Rs 500
5. What is the minimum balance required to be maintained in the Savings Account
in Post Office for cheque facility?
A) Rs 500
B) Rs 100
C) Rs 1000
D) Rs 200
View Answer
Option A
Some Extra:
Rs 500 should be maintained in account so as to continue getting benefits of
cheque facility.
6. What is the minimum balance required to be maintained in the Savings Account
in Post Office in case of non – cheque facility account?
A) Rs 20
B) Rs 10
C) Rs 50
D) Rs 100
View Answer
Option C
Some Extra:
Rs 50 in case of non – cheque facility account.
7. In Post Office, joint account can be opened by ___________ adults.

A) two only
B) three or four
C) two or four
D) two or three
View Answer
Option D
Some Extra:
Joint account can be opened by two or three adults.
8. What is the minimum age required to get open a savings Account in Post
Office?
A) 10
B) No minimum age
C) 18
D) 21
View Answer
Option A
Some Extra:
Account can be opened in the name of minor and a minor of 10 years and above
age can open and operate the account.
9. Which of the following is true in regard to Post Office Saving Account?

(i) Account can be opened by cash only.
(ii) Nomination facility is available at the time of opening and also after opening
of account.
(iii) Account can be transferred from one post office to another.
(iv) Single account can be converted into Joint and Vice Versa.
(v) One account can be opened in one post office.
A) Only (i), (iii) and (v)
B) Only (i), (iv) and (v)
C) Only (ii), (iii), (v)
D) All (i), (ii) , (iii), (iv) and (v)
View Answer
Option D
Some Extra:
All the five points about POSB Account are correct. ATM facility is also
available.
10.In a Post Office Savings Bank (POSB) Account, at least _____ transaction of
deposit or withdrawal in _____ financial years is necessary to keep the account
active.
A) 1, 2
B) 1, 3
C) 2, 3
D) 2, 1
View Answer
Option B
Some Extra:
At least one transaction of deposit or withdrawal in three financial years is
necessary to keep the account active.


View Answer Option C: For More Join

Uploaded by

Document Information

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

View Answer Option C: For More Join

Uploaded by

Copyright:

Available Formats

1. What is the present interest rate in Public Provident Fund(PPF) Scheme?

2. What is the maximum deposit limit allowed in a financial year in Public

For more join - https://t.me/bhawna_weekly_quiz_pdf https://t.me/reasoning_group https://t.me/quant_group

For more join - https://t.me/bhawna_weekly_quiz_pdf https://t.me/reasoning_group https://t.me/quant_group

8. What is the maximum deposit allowed in a financial year under Sukanya

For more join - https://t.me/bhawna_weekly_quiz_pdf https://t.me/reasoning_group https://t.me/quant_group

For more join - https://t.me/bhawna_weekly_quiz_pdf https://t.me/reasoning_group https://t.me/quant_group

For more join - https://t.me/bhawna_weekly_quiz_pdf https://t.me/reasoning_group https://t.me/quant_group

For more join - https://t.me/bhawna_weekly_quiz_pdf https://t.me/reasoning_group https://t.me/quant_group

For more join - https://t.me/bhawna_weekly_quiz_pdf https://t.me/reasoning_group https://t.me/quant_group

For more join - https://t.me/bhawna_weekly_quiz_pdf https://t.me/reasoning_group https://t.me/quant_group

For more join - https://t.me/bhawna_weekly_quiz_pdf https://t.me/reasoning_group https://t.me/quant_group

For more join - https://t.me/bhawna_weekly_quiz_pdf https://t.me/reasoning_group https://t.me/quant_group

For more join - https://t.me/bhawna_weekly_quiz_pdf https://t.me/reasoning_group https://t.me/quant_group

For more join - https://t.me/bhawna_weekly_quiz_pdf https://t.me/reasoning_group https://t.me/quant_group

For more join - https://t.me/bhawna_weekly_quiz_pdf https://t.me/reasoning_group https://t.me/quant_group

For more join - https://t.me/bhawna_weekly_quiz_pdf https://t.me/reasoning_group https://t.me/quant_group

For more join - https://t.me/bhawna_weekly_quiz_pdf https://t.me/reasoning_group https://t.me/quant_group

For more join - https://t.me/bhawna_weekly_quiz_pdf https://t.me/reasoning_group https://t.me/quant_group

For more join - https://t.me/bhawna_weekly_quiz_pdf https://t.me/reasoning_group https://t.me/quant_group

For more join - https://t.me/bhawna_weekly_quiz_pdf https://t.me/reasoning_group https://t.me/quant_group

For more join - https://t.me/bhawna_weekly_quiz_pdf https://t.me/reasoning_group https://t.me/quant_group

For more join - https://t.me/bhawna_weekly_quiz_pdf https://t.me/reasoning_group https://t.me/quant_group

For more join - https://t.me/bhawna_weekly_quiz_pdf https://t.me/reasoning_group https://t.me/quant_group

For more join - https://t.me/bhawna_weekly_quiz_pdf https://t.me/reasoning_group https://t.me/quant_group

For more join - https://t.me/bhawna_weekly_quiz_pdf https://t.me/reasoning_group https://t.me/quant_group

For more join - https://t.me/bhawna_weekly_quiz_pdf https://t.me/reasoning_group https://t.me/quant_group

For more join - https://t.me/bhawna_weekly_quiz_pdf https://t.me/reasoning_group https://t.me/quant_group

For more join - https://t.me/bhawna_weekly_quiz_pdf https://t.me/reasoning_group https://t.me/quant_group

For more join - https://t.me/bhawna_weekly_quiz_pdf https://t.me/reasoning_group https://t.me/quant_group

For more join - https://t.me/bhawna_weekly_quiz_pdf https://t.me/reasoning_group https://t.me/quant_group

For more join - https://t.me/bhawna_weekly_quiz_pdf https://t.me/reasoning_group https://t.me/quant_group

For more join - https://t.me/bhawna_weekly_quiz_pdf https://t.me/reasoning_group https://t.me/quant_group

For more join - https://t.me/bhawna_weekly_quiz_pdf https://t.me/reasoning_group https://t.me/quant_group

For more join - https://t.me/bhawna_weekly_quiz_pdf https://t.me/reasoning_group https://t.me/quant_group

For more join - https://t.me/bhawna_weekly_quiz_pdf https://t.me/reasoning_group https://t.me/quant_group

For more join - https://t.me/bhawna_weekly_quiz_pdf https://t.me/reasoning_group https://t.me/quant_group

For more join - https://t.me/bhawna_weekly_quiz_pdf https://t.me/reasoning_group https://t.me/quant_group

For more join - https://t.me/bhawna_weekly_quiz_pdf https://t.me/reasoning_group https://t.me/quant_group

2. Which of the following bank is the sponsor bank of Allahabad UP Gramin

For more join - https://t.me/bhawna_weekly_quiz_pdf https://t.me/reasoning_group https://t.me/quant_group

For more join - https://t.me/bhawna_weekly_quiz_pdf https://t.me/reasoning_group https://t.me/quant_group

For more join - https://t.me/bhawna_weekly_quiz_pdf https://t.me/reasoning_group https://t.me/quant_group

For more join - https://t.me/bhawna_weekly_quiz_pdf https://t.me/reasoning_group https://t.me/quant_group

For more join - https://t.me/bhawna_weekly_quiz_pdf https://t.me/reasoning_group https://t.me/quant_group

For more join - https://t.me/bhawna_weekly_quiz_pdf https://t.me/reasoning_group https://t.me/quant_group

For more join - https://t.me/bhawna_weekly_quiz_pdf https://t.me/reasoning_group https://t.me/quant_group

For more join - https://t.me/bhawna_weekly_quiz_pdf https://t.me/reasoning_group https://t.me/quant_group

For more join - https://t.me/bhawna_weekly_quiz_pdf https://t.me/reasoning_group https://t.me/quant_group

For more join - https://t.me/bhawna_weekly_quiz_pdf https://t.me/reasoning_group https://t.me/quant_group

For more join - https://t.me/bhawna_weekly_quiz_pdf https://t.me/reasoning_group https://t.me/quant_group

6. What is the minimum deposit allowed in Public Provident Fund Account in a

For more join - https://t.me/bhawna_weekly_quiz_pdf https://t.me/reasoning_group https://t.me/quant_group

For more join - https://t.me/bhawna_weekly_quiz_pdf https://t.me/reasoning_group https://t.me/quant_group

7. What is the minimum deposit required under Sukanya Samriddhi Scheme

For more join - https://t.me/bhawna_weekly_quiz_pdf https://t.me/reasoning_group https://t.me/quant_group

For more join - https://t.me/bhawna_weekly_quiz_pdf https://t.me/reasoning_group https://t.me/quant_group

For more join - https://t.me/bhawna_weekly_quiz_pdf https://t.me/reasoning_group https://t.me/quant_group

For more join - https://t.me/bhawna_weekly_quiz_pdf https://t.me/reasoning_group https://t.me/quant_group

For more join - https://t.me/bhawna_weekly_quiz_pdf https://t.me/reasoning_group https://t.me/quant_group

For more join - https://t.me/bhawna_weekly_quiz_pdf https://t.me/reasoning_group https://t.me/quant_group

For more join - https://t.me/bhawna_weekly_quiz_pdf https://t.me/reasoning_group https://t.me/quant_group

For more join - https://t.me/bhawna_weekly_quiz_pdf https://t.me/reasoning_group https://t.me/quant_group