By admin 28 December 2021 , , , , , ,

Banking GK December 2021 by Top IBPS Online Classes

In order to assist SBI and IBPS aspirants in cracking Banking Awareness Questions asked in the GK section of Tier-II exams, experts from Vidya Guru have designed a Quiz covering the noteworthy events of the last few weeks. As an aspirant who is devoted to making a career as a Probationary Officer or Clerk in any of the reputed public sector banks, you should pay close attention to this Quiz.

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Banking GK Quiz (December 2021)

Question 1) The Bank of Baroda has launched a wearable payment solution which is known as _______
A) BOB Wide Wave
B) BOB World Wave
C) BOB Wrist Watch
D) BOB Wrist World
E) BOB Wrist Wave

Answer – B) BOB World Wave
Explanation:
The Bank of Baroda has launched a wearable payment solution which is known as BOB World Wave. By using BOB World Wave customers can monitor their Sp02, body temperature, heart rate and BP. Customers can make contactless transactions up to Rs. 5000 in all NFC enabled PoS devices and the transactions above Rs. 5000 by using a PIN. It also offers an exclusive 3-months free wellness package.

Question 2) How many digits are there in the Legal Entity Identifier (LEI)?
A) 10
B) 11
C) 15
D) 20
E) 18
Answer – D) 20
Explanation:
The Reserve Bank of India (RBI) has enforced Legal Entity Identifier (LEI) , a 20 digit number mandatory for cross-border transactions for capital or current account transactions of Rs 50 crore and above, from October 1 next year. It is used to improve the quality and accuracy of financial transactions worldwide.

Question 3) Which of the following Payments Banks received a scheduled bank status from the Reserve Bank of India?
A) Airtel Payments Bank
B) NSDL Payments Bank
C) Jio Payments Bank
D) Fino Payments Bank
E) Paytm Payments Bank

Answer – E) Paytm Payments Bank
Explanation:
Paytm Payments Bank received a scheduled bank status from the Reserve Bank of India under the Second Schedule of the Reserve Bank of India Act, 1934

Question 4) Which of the following banks launched ‘On-the-Go’, a wearable keychain payment solution for its Debit Card Customers?
A) Punjab National Bank(PNB)
B) Bank Of Baroda(BOB)
C) City Union Bank (CUB)
D) Union Bank of India(UBI)
E) ICICI Bank

Answer – C) City Union Bank (CUB)
Explanation:
The City Union Bank (CUB) and NPCI has launched ‘On-the-Go’, a wearable keychain payment solution for its Debit Card Customers. Customers can make contactless transactions up to Rs. 5000 at all Rupay-enabled point of sale devices (PoS) without entering a PIN.

Question 5) RBI has announced its first global hackathon named “HARBINGER 2021 – Innovation for Transformation”. What is the theme of HARBINGER 2021?
A) Smarter Digital Transactions
B) Smarter Digital Payments
C) Smarter Digital Ideas
D) Smarter Digital Platforms
E) Smarter Digital Innovations

Answer – B) Smarter Digital Payments
Explanation:
The theme of “HARBINGER 2021 – Innovation for Transformation” : Smarter Digital Payments.

Question 6) Which of the following banks launched fitness-focused credit cards?
A) HDFC Bank
B) ICICI Bank
C) SBI
D) Axis Bank
E) CUB

Answer – C) SBI
Explanation:
SBI Cards has announced the launch of a fitness and wellness-focused credit card which is named ‘SBI Card Pulse’. By using these cards Customers can avail benefits towards fitness and wellness across the country.

Question 7) Which of the following White Label ATM(WLA) companies has crossed a milestone on deploying 10000 white-label ATMs?
A) Tata Communications Payment Solutions Limited (TCPSL)
B) BTI Payments – India1ATM
C) Hitachi Money Spot ATM
D) Vakrangee – White label ATM
E) None of these

Answer – B) BTI Payments – India1ATM
Explanation:
India1ATM has installed 10000 white-label ATMs. White Label ATMs, or WLAs, are the ATMs that are owned and operated by non-banking companies. The Reserve Bank of India (RBI) has authorized non-banking companies to set up White Label ATMs under the Payment and Settlement Systems(PSS) Act, 2007.

Question 8) Which of the following Payments Banks partnered to offer cash-based assisted bill payments at the doorstep of customers?
A) Airtel Payments Bank
B) NSDL Payments Bank
C) India Post Payments Bank (IPPB)
D) Fino Payments Bank
E) Paytm Payments Bank

Answer – C) India Post Payments Bank (IPPB)
Explanation:
India Post Payments Bank (IPPB) and NPCI Bharat BillPay Limited(NBBL) have partnered to offer cash-based assisted bill payments at the doorstep of IPPB as well as non IPPB customers.
NPCI Bharat BillPay Limited(NBBL):
NBBL is the wholly owned subsidiary of NPCI which processes all recurring payments in the country.
CEO – Ms. Noopur Chaturvedi

Question 9) Which of the following has approved a USD 350 million loan to improve urban services in India?
A) World Bank(WB)
B) Asian Development Bank(ADB)
C) International Monetary Fund(IMF)
D) European Bank for Reconstruction and Development(EBRD)
E) None of these

Answer – B) Asian Development Bank(ADB)
Explanation: Asian Development Bank(ADB) has approved a USD 350 million loan to improve urban services in India.
Asian Development Bank(ADB):
Headquarters: Mandaluyong, Philippines
President: Masatsugu Asakawa
Membership: 68 countries

Question 10) Recently, Life Insurance Corporation of India (LIC) has received approval from the RBI to raise its holding in _______
A) Yes Bank
B) IndusInd Bank
C) CUB
D) IDBI Bank
E) Only (A) and (B)

Answer – B) IndusInd Bank
Explanation:
Life Insurance Corporation of India (LIC) has received the approval from the central bank to hike stake in IndusInd Bank to 9.99% from the existing 4.95%.

Question 11) What is the minimum amount for investment in Government of India Treasury Bills (T-Bills) through the Retail Direct platform?
A) Rs.5000
B) Rs.15000
C) Rs.7500
D) Rs.10000
E) Rs.1000

Answer – D) Rs.10000
Explanation:
The minimum amount for investment in Government of India Treasury Bills (T-Bills) through the Retail Direct platform is Rs.10000

Question 12) What is the minimum amount for investment in Government of India dated securities (dated G-Sec) through the Retail Direct platform?
A) Rs.5000
B) Rs.15000
C) Rs.7500
D) Rs.10000
E) Rs.1000

Answer – D) Rs.10000
Explanation:
The minimum amount for investment in Government of India dated securities (dated G-Sec) through the Retail Direct platform is Rs.10000

Question 13) What is the minimum amount for investment in State Development Loans (SDLs) through the Retail Direct platform?
A) Rs.5000
B) Rs.15000
C) Rs.7500
D) Rs.10000
E) Rs.1000

Answer – D) Rs.10000
Explanation:
The minimum amount for investment in State Development Loans (SDLs) through the Retail Direct platform is Rs.10000

Question 14) What is the minimum amount for investment in Sovereign Gold Bonds (SGB) through the Retail Direct platform?
A) 5 gram of gold
B) 1 gram of gold
C) 4 gram of gold
D) 10 gram of gold
E) 8 gram of gold

Answer – B) 1 gram of gold
Explanation:
The minimum amount for investment in Sovereign Gold Bonds (SGB) through the Retail Direct platform is 1 gram of gold

Question 15) What is the maximum amount for investment in Government of India Treasury Bills (T-Bills) through the Retail Direct platform?
A) 1 Crore
B) No limits
C) 5 Crore
D) The aggregate allocation of all non-competitive bids will be restricted to a maximum of 5% of the aggregate nominal amount of the issue within the notified amount as specified by the Government of India, or any other percentage determined by RBI.
E) ₹2 crore (face value) per security per auction.

Answer – D) The aggregate allocation of all non-competitive bids will be restricted to a maximum of 5% of the aggregate nominal amount of the issue within the notified amount as specified by the Government of India, or any other percentage determined by RBI.
Explanation:
The maximum amount for investment in Government of India Treasury Bills (T-Bills) through the Retail Direct platform is the aggregate allocation of all non-competitive bids will be restricted to a maximum of 5% of the aggregate nominal amount of the issue within the notified amount as specified by the Government of India, or any other percentage determined by RBI.

Question 16) What is the maximum amount for investment in Government of India dated securities (dated G-Sec) through the Retail Direct platform?
A) 1 Crore
B) 1% of notified amount (face value) per auction
C) 5 Crore
D) The aggregate allocation of all non-competitive bids will be restricted to a maximum of 5% of the aggregate nominal amount of the issue within the notified amount as specified by the Government of India, or any other percentage determined by RBI.
E) ₹2 crore (face value) per security per auction.

Answer – E) ₹2 crore (face value) per security per auction.
Explanation:
The maximum amount for investment in Government of India dated securities (dated G-Sec) through the Retail Direct platform is ₹2 crore (face value) per security per auction.

Question 17) What is the maximum amount for investment in State Development Loans (SDLs) through the Retail Direct platform?
A) 1 Crore
B) 1% of notified amount (face value) per auction
C) 5 Crore
D) The aggregate allocation of all non-competitive bids will be restricted to a maximum of 5% of the aggregate nominal amount of the issue within the notified amount as specified by the Government of India, or any other percentage determined by RBI.
E) ₹2 crore (face value) per security per auction.

Answer – B) 1% of notified amount (face value) per auction
Explanation:
The minimum amount for investment in State Development Loans (SDLs) through the Retail Direct platform is 1% of notified amount (face value) per auction

Question 18) What is the maximum amount for investment in Sovereign Gold Bonds (SGB) through the Retail Direct platform?
A) 5 kg of gold
B) 1 kg of gold
C) 4 kg of gold
D) 10 kg of gold
E) 8 kg of gold

Answer – C) 4 kg of gold
Explanation:
The maximum amount for investment in Sovereign Gold Bonds (SGB) through the Retail Direct platform is 4 kg of gold.

Question 19) In CSGL account, “L” stands for _______
A) Loan
B) Limited
C) Liability
D) Ledger
E) None of these

Answer – D) Ledger
Explanation:
CSGL – Constituents’ Subsidiary General Ledger account – a securities account opened and maintained with RBI by an agent on behalf of the constituents of such agent, i.e., an account opened by an agent with the RBI to hold the securities on behalf of their constituents. The constituents are known as the Gilt Account Holders (GAHs)

Question 20) Mobile Aided Note Identifier (MANI) is a mobile application launched by ______
A) Ministry of Finance
B) NPCI
C) GOI
D) RBI
E) None of these

Answer – D) RBI
Explanation:
Mobile Aided Note Identifier (MANI) is a mobile application launched by the Reserve Bank for aiding visually impaired persons to identify the denomination of Indian Banknotes. It does not authenticate a note as being either genuine or counterfeit.

In order to add to the learning from these Banking Awareness Quizzes, we suggest you create a free account on our website from where you can download the free monthly Current Affairs magazine. To get access to the Best SSC CGL Online Coaching Classes and ace the upcoming Combined Graduate Level examination, we advise you to sign up for our courses at the earliest. Every single day makes a difference to your exam preparation, when the competition is such that even .25 marks can be the gap between success and failure.

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Summary
This set of objective questions on Banking Awareness is going to be most relevant for IBPS and SBI Bank PO / Clerk, IBPS RRB, LIC, NICL, SEBI and RBI exams. To get complete information about Vidya Guru’s Pen Drive / Online and Offline Courses, you can contact our student support team on: 9650549487 / 9650549587 or write to us at vidyagurudelhi@gmail.com