Q.61
Easy
Which organization regulates insurance companies in India?
A
RBI
B
SEBI
C
IRDA (IRDAI)
D
Ministry of Finance
Correct Answer:
C. IRDA (IRDAI)
Explanation:
Insurance Regulatory and Development Authority of India (IRDAI) regulates and supervises insurance companies operating in India.
Q.62
Easy
What is the full form of RTGS?
A
Real Time Gross Settlement
B
Rapid Transfer and Global System
C
Real Time Global Settlement
D
Regulated Transaction Gross System
Correct Answer:
A. Real Time Gross Settlement
Explanation:
RTGS (Real Time Gross Settlement) is a system for real-time transfer of funds and securities between banks in India.
Q.63
Easy
What does KYC stand for in banking?
A
Know Your Client
B
Know Your Country
C
Know Your Capital
D
Keep Your Code
Correct Answer:
A. Know Your Client
Explanation:
KYC (Know Your Client) is a mandatory procedure for banks to verify customer identity and assess their financial profile to prevent fraud and money laundering.
Q.64
Easy
What is the maximum period for which a bank can classify an account as NPA (Non-Performing Asset)?
A
30 days of non-payment
B
90 days of non-payment
C
180 days of non-payment
D
365 days of non-payment
Correct Answer:
B. 90 days of non-payment
Explanation:
RBI guidelines classify an account as NPA after 90 days of non-payment. This is the standard threshold for identifying non-performing assets in Indian banking.
Q.65
Easy
Which rate does the RBI use as the benchmark for transmission of monetary policy?
A
Reverse Repo Rate
B
Repo Rate
C
Base Rate
D
MCLR (Marginal Cost of Funds Based Lending Rate)
Correct Answer:
B. Repo Rate
Explanation:
The Repo Rate is the primary instrument used by RBI for monetary policy transmission. Banks' lending rates are benchmarked against this rate.
Q.66
Easy
What does CASA stand for in banking terminology?
A
Current Account and Savings Account
B
Customer Asset and Secured Account
C
Corporate Account and Savings Account
D
Current and Secured Assets Account
Correct Answer:
A. Current Account and Savings Account
Explanation:
CASA represents Current Account and Savings Account deposits, which are low-cost funding sources for banks and crucial for profitability metrics.
Q.67
Easy
Under the Pradhan Mantri Jan Dhan Yojana (PMJDY), what is the overdraft limit for eligible beneficiaries?
A
Rs. 5,000
B
Rs. 10,000
C
Rs. 15,000
D
Rs. 20,000
Correct Answer:
B. Rs. 10,000
Explanation:
PMJDY provides an overdraft facility of up to Rs. 10,000 to eligible account holders after 6 months of satisfactory operation of the account.
Q.68
Easy
What is the tenure for which RBI Governor is appointed?
A
3 years
B
5 years
C
4 years
D
6 years
Correct Answer:
C. 4 years
Explanation:
The RBI Governor is appointed for a tenure of 4 years, after which reappointment is possible. The current Governor is Sanjay Malhotra (appointed December 2023).
Q.69
Easy
What is the primary objective of the Pradhan Mantri Mudra Yojana (PMMY)?
A
To provide retail deposits to individuals
B
To provide collateral-free loans to micro and small enterprises
C
To regulate non-banking financial companies
D
To encourage foreign direct investment
Correct Answer:
B. To provide collateral-free loans to micro and small enterprises
Explanation:
PMMY aims to provide collateral-free loans to micro and small enterprises for business purposes, with loans up to Rs. 10 lakh under the scheme.
Q.70
Easy
As per the latest RBI guidelines (2024), what is the Statutory Liquidity Ratio (SLR) minimum requirement for Scheduled Commercial Banks?
Explanation:
As of 2024, the SLR minimum requirement is 18% of the bank's Net Demand and Time Liabilities (NDTL).
