Showing 321–330 of 494 questions
Q.321
Medium
General Awareness
What does SWIFT code in banking stand for?
A
Society for Worldwide Interbank Financial Telecommunications
B
System for Web-based International Fund Transfer
C
Secure Wireless International Transaction Format
D
Standard Worldwide International Fund Transfer
Correct Answer:
A. Society for Worldwide Interbank Financial Telecommunications
Explanation:
SWIFT is a global standard for secure international fund transfers and messaging between banks worldwide.
Q.322
Hard
General Awareness
Which RBI initiative aims to provide a framework for facilitating cross-border payments in rupees?
A
International Monetary Fund
B
Rupee Trade Corridor
C
Global Financial System
D
Internationalization of the Rupee
Correct Answer:
D. Internationalization of the Rupee
Explanation:
RBI has been promoting the internationalization of the rupee to facilitate cross-border payments and reduce dependence on foreign currencies.
Q.323
Medium
General Awareness
A customer's bank account becomes inoperative if no transaction occurs for how long?
A
6 months
B
12 months
C
24 months
D
36 months
Correct Answer:
B. 12 months
Explanation:
As per RBI guidelines, a savings or current account becomes 'inoperative' if there is no transaction for 12 consecutive months.
Q.324
Medium
General Awareness
Which of the following correctly defines 'Bancassurance'?
A
Insurance provided by banks to their employees only
B
Distribution of insurance products through bank branches and channels
C
Life insurance exclusively for senior bank officials
D
Insurance against bank fraud and cyber attacks
Correct Answer:
B. Distribution of insurance products through bank branches and channels
Explanation:
Bancassurance is the delivery and distribution of insurance products through banking channels to customers.
Q.325
Easy
General Awareness
Which of the following is a negotiable instrument used in banking?
A
Bearer Bond
B
Promissory Note
C
Stock Certificate
D
Insurance Policy
Correct Answer:
B. Promissory Note
Explanation:
A Promissory Note is a negotiable instrument that represents a written promise to pay a specified sum to a creditor.
Q.326
Easy
General Awareness
What does KYC stand for in banking terminology?
A
Know Your Client
B
Keep Your Capital
C
Key Yearly Calculation
D
Knowledge Yield Certificate
Correct Answer:
A. Know Your Client
Explanation:
KYC (Know Your Client) is a mandatory compliance process to verify customer identity and assess their financial profile.
Q.327
Medium
General Awareness
What is the current statutory liquidity ratio (SLR) requirement set by RBI for banks?
Explanation:
As per RBI guidelines, banks must maintain a minimum SLR of 18% of their net demand and time liabilities.
Q.328
Medium
General Awareness
Which RBI framework regulates digital lending operations in India?
A
Digital Banking Directive 2020
B
Guidelines on Digital Lending Operations 2023
C
E-Lending Authorization Act
D
Cyber Banking Regulation 2022
Correct Answer:
B. Guidelines on Digital Lending Operations 2023
Explanation:
RBI issued Guidelines on Digital Lending Operations in 2023 to regulate fintech lending platforms and digital lenders.
Q.329
Medium
General Awareness
What is the minimum Capital Adequacy Ratio (CAR) required for Scheduled Commercial Banks under Basel III framework?
Explanation:
Under Basel III, the minimum CAR for Scheduled Commercial Banks is 11.5%, comprising 9.5% for common equity and 1% for additional tier-1 capital.
Q.330
Easy
General Awareness
Which scheme provides crop insurance coverage to farmers in India?
A
Pradhan Mantri Fasal Bima Yojana
B
Pradhan Mantri Kisan Samman Nidhi
C
Pradhan Mantri Mudra Yojana
D
Pradhan Mantri Suraksha Bima Yojana
Correct Answer:
A. Pradhan Mantri Fasal Bima Yojana
Explanation:
Pradhan Mantri Fasal Bima Yojana (PMFBY) provides crop insurance protection to farmers against crop failure due to natural calamities.
