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Superb Banking Awareness Quiz by Bank Exam Coaching Experts

Questions on Banking Awareness and Financial News are an essential feature of recruitment examinations conducted by IBPS, SBI, LIC, NICL, SEBI and RBI. So, if you are targeting any of these exams, you must keep abreast of the latest developments taking place in Banking and Financial Services Industry (BFSI). However, most students aren’t aware of the pattern of questions that can be framed based on these developments.

Being the Centre for Best IBPS Coaching in Delhi NCR territory, Vidya Guru Experts understand this problem fully well. In this regard, we keep publishing GK quizzes based on the questions that are likely to be included in Bank PO and Clerk exams. So, let’s get started and attempt a quiz that will benefit your Bank Exam Preparation immensely.

Banking GK Quiz
Question 1) RBI has increased the investment limit in Voluntary Retention Route (VRR) for the investments by Foreign Portfolio Investors (FPIs) from Rs. 1,50,000 Cr. to ______ Cr.
A) 3,50,000 crore
B) 4,50,000 crore
C) 2,50,000 crore
D) 5,50,000 crore
E) None of these
Answer – C) 2,50,000 crore
Explanation:
RBI has increased the investment limit in Voluntary Retention Route (VRR) for the investments by Foreign Portfolio Investors (FPIs) from Rs. 1,50,000 Cr. to 2,50,000 Cr.

Question 2) Which among the following has introduced “India’s first” intelligent messenger called ‘Pops’?
A) Fullerton India
B) Phonepe
C) Freecharge
D) Mobikwik
E) Paytm Money
Answer – E) Paytm Money
Explanation:
Paytm Money has launched “India’s first” intelligent messenger called ‘Pops’. By using this app users can receive specific information related to their stocks, analysis about their portfolio, market news, and important market movements etc.,

Question 3) TerraPay has signed a MOU with NIPL(NPCI International Payments Limited) to boost cashless transactions for Indian customers. The Headquarters of TerraPay is located in _______
A) Russia
B) Netherlands
C) Germany
D) UK
E) Switzerland
Answer – B) Netherlands
Explanation:
TerraPay has signed a MOU with NIPL(NPCI International Payments Limited), the International arm of the National Payments Corporation of India (NPCI) to allow Indian customers with an active UPI ID to receive international payments, in real-time, into their bank accounts using TerraPay. The Headquarters of TerraPay is located in the Netherlands.

Question 4) UPI Safety and Awareness Week is observed from _______
A) January 1 to January 7
B) January 8 to January 15
C) February 1 to February 7
D) February 8 to February 15
E) None of these
Answer – C) February 1 to February 7
Explanation:
The National Payments Corporation of India (NPCI) and the UPI ecosystem have announced the UPI Safety and Awareness initiative. February 1 to 7 is observed as UPI Safety and Awareness Week.

Question 5) Punjab National Bank (PNB), and Patanjali Ayurved Limited (PAL) have launched co-branded contactless credit cards in partnership with ________
A) Rupay
B) VISA
C) Mastercard
D) IMF
E) None of these
Answer – A) Rupay
Explanation:
Patanjali Ayurved Ltd. (PAL) & Punjab National Bank (PNB) have launched a contactless, co-branded credit card in partnership with Rupay.

Question 6) The Reserve Bank of India (RBI) has repealed the licence of Independence Co-operative Bank Ltd. The Independence Co-operative Bank Limited is based on ________
A) Kolkata
B) Nagpur
C) Pune
D) Mumbai
E) Nashik
Answer – E) Nashik
Explanation:
The Reserve Bank of India (RBI) has cancelled the licence of Independence Co-operative Bank Limited. The Independence Co-operative Bank Limited is based on Nashik

Question 7) How many ‘new bank note printing lines’ have been started by Security Printing and Minting Corporation of India Limited (SPMCIL)?
A) 4
B) 2
C) 3
D) 5
E) None of these
Answer – B) 2
Explanation:
Security Printing and Minting Corporation of India Limited (SPMCIL) has started ‘new bank note printing lines’ each at Currency Note Press, Nashik and Bank Note Press, Dewas.

Question 8) Which among the following has been chosen by the Tata Group to finance Air India’s old debt. ?
A) SBI
B) HDFC Bank
C) BoB
D) All of these
E) None of these
Answer – D) All of these
Explanation:
State Bank of India, Bank of Baroda and HDFC Bank have been chosen by the Tata Group as preferred bankers for Air India’s old debt. Tata Group has availed of a Rs 10,000-crore loan from State Bank of India(SBI) and a Rs 5,000-crore loan from Bank of Baroda(BoB).

Question 9) Which among the following has issued $300 million Formosa bonds and listed the issuance on India INX GIFT IFSC?
A) SBI
B) HDFC Bank
C) BoB
D) ICICI Bank
E) None of these
Answer – A) SBI
Explanation: SBI has issued $300 million Formosa bonds and listed the issuance on India INX GIFT IFSC. Formosa bond is a bond issued in Taiwan and it is the first such issuance by any Indian Bank in the Formosa Bond market.

Question 10) The Advisory Board for Banking and Financial Frauds (ABBFF) will examine bank frauds of ______ and above.
A) Rs 50 crore
B) Rs 20 crore
C) Rs 10 crore
D) Rs 5 crore
E) Rs 3 crore
Answer – E) Rs 3 crore
Explanation:
As per the Central Vigilance Commission (CVC) instructions, the Advisory Board for Banking and Financial Frauds (ABBFF) will examine bank frauds of Rs 3 crore and above and recommend action. Till now, the ABBFF examined the financial frauds of Rs 50 crore and above.

Question 11) How many interest rates are there on the “Inflation Indexed National Saving Securities – Cumulative (IINSS-C)” scheme?
A) 2
B) 3
C) 1
D) 4
E) None of these
Answer – A) 2
Explanation:
There are two types of interest rates on the “Inflation Indexed National Saving Securities – Cumulative (IINSS-C)” scheme. They are fixed rate 1.5% per annum and floating rate.

Question 12) Who among the following is eligible to invest in the Inflation Indexed National Saving Securities-Cumulative (IINSS-C) scheme?
A) Individuals
B) HUF
C) Charitable Trusts
D) Universities
E) All of these
Answer – E) All of these
Explanation:
● Individuals
● Hindu Undivided Family (HUF)
● charitable institutions(registered under section 25 of the Indian Companies Act)
● Universities (incorporated by Central, State or Provincial Act /declared to be a university under section 3 of the University Grants Commission Act, 1956)

Question 13) Which among the following is authorized for the investments in Inflation Indexed National Saving Securities – Cumulative (IINSS-C)?
A) HDFC Bank
B) ICICI Bank
C) Axis Bank
D) SBI
E) All of these
Answer – E) All of these
Explanation:
● All nationalized Banks
● SBI
● HDFC Bank
● ICICI Bank
● Axis Bank

Question 14) What is the minimum limit for the investment in the Inflation Indexed National Saving Securities-Cumulative (IINSS-C) scheme?
A) 5000
B) 1000
C) 500
D) 10000
E) Hyderabad
Answer – A) 5000
Explanation:
The minimum limit for the investment in the Inflation Indexed National Saving Securities-Cumulative (IINSS-C) scheme is Rs. 5000.

Question 15) What is the maximum limit for the individual investors in the Inflation Indexed National Saving Securities-Cumulative (IINSS-C) scheme?
A) 5 lakh per annum
B) 6 lakh per annum
C) 10 lakh per annum
D) 12 lakh per annum
E) None of these
Answer – C) 10 lakh per annum
Explanation:
The maximum limit for the individual investors in the Inflation Indexed National Saving Securities-Cumulative (IINSS-C) scheme is 10 lakh per annum.

Question 16) What is the maximum limit for the other than the individual investors in the Inflation Indexed National Saving Securities-Cumulative (IINSS-C) scheme?
A) 15 lakh per annum
B) 18 lakh per annum
C) 25 lakh per annum
D) 20 lakh per annum
E) None of these
Answer – C) 25 lakh per annum
Explanation:
The maximum limit for the other than the individual investors such as HUFs, Charitable Trusts and Universities in the Inflation Indexed National Saving Securities-Cumulative (IINSS-C) scheme is 25 lakh per annum.

Question 17) Which of the following is responsible for the e-stamping system around India?
A) CDSL
B) NSDL
C) SHCIL
D) RBI
E) None of these
Answer – C) SHCIL
Explanation:
Stock Holding Corporation of India Limited (SHCIL) is responsible for the e-stamping system around India.

Question 18) Which of the following is authorized by RBI as Agency Bank for the investments in Inflation Indexed National Saving Securities – Cumulative (IINSS-C) with nationalized banks?
A) CDSL
B) NSDL
C) SHCIL
D) SEBI
E) None of these
Answer – C) SHCIL
Explanation:
The Stock Holding Corporation of India Limited(SHCIL) is authorized by RBI as Agency Bank for the investments in Inflation Indexed National Saving Securities – Cumulative (IINSS-C) with nationalized banks.

Question 19) The premature redemption is allowed in the Inflation Indexed National Saving Securities – Cumulative (IINSS-C) scheme after_____ year for the senior citizens above 65 years.
A) 2
B) 3
C) 4
D) 1
E) None of these
Answer – D) 1
Explanation:
The premature redemption is allowed in the Inflation Indexed National Saving Securities – Cumulative (IINSS-C) scheme after 1 year for the senior citizens above 65 years.

Question 20) The premature redemption is allowed in the Inflation Indexed National Saving Securities – Cumulative (IINSS-C) scheme after _____ for others.
A) 2 years
B) 3 years
C) 4 years
D) 5 years
E) None of these
Answer – B) 3 years
Explanation:
The premature redemption is allowed in the Inflation Indexed National Saving Securities – Cumulative (IINSS-C) scheme after 3 years for others.

This quiz must have given you a glimpse of our in-depth expertise in the domain of Banking Preparation. Nonetheless, those of you, who may still be wondering why students consider us the Best Bank Coaching in Delhi region, are requested to pay a visit to our study centres and interact with our expert faculty. Doing so will help you understand and experience the quality of our teaching methodology firsthand.

Summary
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