Latest Banking & Financial Awareness Quiz 2017 - Set 120

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1. Which of the following is / are not the functions of "India Post Payments Bank" (IPPB) ?
1. It can set up its own outlets such as branches, Automated Teller Machines (ATMs),
2. Acceptance of demand deposits, i.e., current deposits, and 7. savings bank deposits from individuals, small businesses and other entities, as permitted under Banking Regulation Act
3. It is restricted to hold a maxi-mum balance of Rs.1,00,000 8. per individual customer
4. Issuance of ATM / Debit Cards
5. Can issue credit cards 
   
2. Maximum number of shareholders in a Private Limited Company ?
1. 50
2. 200
3. 7
4. As per the Memorandum of Association
5. No restriction
3. If the award of the Banking Ombudsman is not acceptable to parties, within how many days they can file an appeal with Appellate Authority ?
1. Within 30 days on receipt of the order
2. Within 60 month on receipt of the order
3. Within 90 days
4. Within 45 days
5. No such time limit
4. What is true about the allocations to Rural sector as per the latest budget 2017 - 18 ?
1. Government targets to bring 1 crore households out of poverty by 2019
2. During 2017 - 18, 5 lakh farm ponds to be taken up under MGNREGA
3. Over Rs. 3 lakh crores allocated for rural India. MGNREGA to double farmers income
4. Allocating Rs.19,000 crores for Pradhan Mantri Gram Sadak Yojana in 2017 - 18
5. All the above
5. Kshatrapati Sivaji is the Chairman and Managing Director of :
1. ONGC
2. SAIL
3. SIDBI (Small Industries Development Bank of India)
4. TRAI
5. IFCI
6. In the case of deposit held by joint persons, the nomination can be made in favour of :
1. A single individual
2. More than one person in case deposit is payable jointly
3. More than one person in case deposit is payable to either or survivor(s)
4. Separate persons by each depositor
5. None of these
7. Which of the Payment and settlement system is not managed directly by RBI ?
1. RTGS
2. NEFT
3. ECS
4. Board formed as per PASSA
5. None of these
8. With respect to NPCI, which of  the following statements is not correct :
1. Not profit making company
2. Public sector banks must hold minimum 51% of its capital
3. Acts as umbrella organisation for retail payments systems
4. (1) and (2)
5. None of the above
9. A joint account is in the names of X and Y operated by both of them jointly. On the death of X the credit balance in the account is payable to :
1. Y
2. The legal heirs of X
3. As per the court orders only
4. Jointly to Y and the legal heirs of X
5. None of these
10. What should be the minimum deposit in a PPF (Public Provident Fund) Account ?
1. Rs.1000/-
2. Rs.2000/-
3. Rs.500/-
4. Rs.10/-
5. Rs.5000/-
11. What are the provisions made in the budget 2017 - 18 for youth ?
1. Introduction of a system of measuring annual learning outcomes, innovation fund for secondary education
2. There will be a focus on 3,479 educationally-backward blocks
3. Courses in foreign languages to be introduced
4. 100 India International Skill centres will be established across the country under Skill India Mission was launched in 2015 to maximise the potential of our youth
5. All the above
12. For opening Saving Account under e-KYC, Account Holder's authenticated details are received from  ____________
1. Income Tax Dept
2. Election Commission
3. UIDAI
4. Concerned Municipal Office
5. None of the above
13. In order to fulfil all the bank needs of the start-ups, a dedicated solution "Smart up" has recently been launched by :
1. Union Bank of India
2. Yes Bank
3. HDFC Bank
4. Bandhan Bank
5. Indian Bank
14. Apart from Cash, payments to any person / merchant can be made through :
1. NEFT
2. Demand Draft
3. RTGS
4. Plastic Cards
5. All of these
15. Which is the most active segment of the money market in India ?
1. Call money / Notice money market
2. Repo/ Reverse repo
3. Commercial paper
4. Certificate of deposit
5. None of these
16. A mandate has to be registered with :
1. Sub-registrar of assurances
2. Registrar of firms
3. Registrar of joint Stock Companies
4. The court under whose jurisdiction it falls
5. Need not be registered
17. While issuing a cheque to someone, Kohli has put the date which he realized that date written is as of yesterday. What he should do ?
1. He should change the date to today's date under his full signature
2. Tell the payee to change the date to today's and ask him to sign
3. No need to change the date as a cheque is valid for three months
4. Better destroy the cheque and issue a new cheque
5. Any of the above can be done by him
18. Which of the following 'Public Sector Banks' was acquired by Punjab National Bank in 1993 ?
1. Union Bank of India
2. United Bank of India
3. New Bank of India
4. UCO Bank
5. Central Bank of India
19. Who is the chairman and Managing Director of UCO Bank ?
1. Arun Tiwari
2. Animesh Chauhan
3. Arun SriVastava
4. Ravi Kishan Thakkar
5. None of the above
20. The Capital Adequacy Ratio Norms (CAR) in Bank Industry were introduced by RBI in :
1. April 1991
2. April 1992
3. March 1992
4. July 1992
5. None of these
21. Which of the following entities are floated by SIDBI ?
1. SIDBI Venture Capital Ltd
2. SME Rating Agency of India Ltd. (SMERA)
3. ISARC - India SME Asset Reconstruction Company
4. CGTMSE Credit Guarantee Fund Trust for Micro and Small Enterprises
5. All the above 
22. A truncated cheque is one which is __________
1. Torn
2. Photocopied
3. Post dated
4. Scanned (CTS)
5. Unsigned
23. For an auto-renewed deposit, change of period from date of renewal without penalty can be done provided, customer requests within __________
1. 7 days
2. 15 days
3. 18 days
4. 14 days
5. 30 days
24. Suresh, an Indian national has gone to USA on a student VISA to do his master degree in medicine. What is his residential status ?
1. Resident
2. NRI
3. PIO
4. None of the above
5. All the above
25. "Refund Banker Scheme" pertains to :
1. IBA
2. SEBI
3. RBI
4. Income tax
5. LIC
26. Which of the following is/are not the function of Credit Information Bureau of India Ltd. [CIBIL] ?
1. Established on the recommendations of Siddiqui Committee
2. Set up by SBI and HDFC in association with Dun & Bradstreet and Trans Union International
3. It acts as a facilitator for credit dispensation and helps mitigate the credit risk
4. Disseminates information in regard to suit filed and willful defaulter's accounts as well as all advance accounts
5. None of the above
27. What are the types of accounts that can be opened under NRO ?
1. Savings
2. Current
3. Recurring
4. Term Deposit
5. All the above
28. What are the types of accounts that can be opened under RFC (Resident Foreign Currency)?
1. Savings
2. Current
3. Recurring
4. Term Deposit
5. All the above
29. What is the maximum period of deposit that can be opened under RFC ?
1. 1 year
2. 3 years
3. 5 years
4. 10 years
5. All the above 
30. GFCE stands for :
1. Greater Financial Consumption Expenditure
2. Government Final Consumption Expenditure
3. Grand Final Consumer Expenditure
4. Government Funds Consumption Expenditure
5. None of these 

Shared by Shravan Varma Gadhiraju

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