Q.371
Medium
The RBI's 'Insolvency Resolution and Debt Restructuring (IRDR) Framework' primarily focuses on which aspect?
A
Promoting cryptocurrency trading
B
Resolving stressed assets and restructuring debt of borrowers
C
Increasing bank profitability
D
Regulating foreign exchange markets
Correct Answer:
B. Resolving stressed assets and restructuring debt of borrowers
Explanation:
The IRDR Framework provides a structured approach for banks to resolve stressed assets and restructure debts to promote financial stability.
Q.372
Medium
Which of the following is a key feature of Unified Payments Interface (UPI) 2.0 launched in 2024?
A
Support for offline transactions and voice-enabled payments
B
Integration with cryptocurrency exchanges
C
Mandatory use of biometric authentication
D
Restriction on international transfers
Correct Answer:
A. Support for offline transactions and voice-enabled payments
Explanation:
UPI 2.0 introduced features like offline transaction capability and voice-enabled payments to enhance accessibility and user experience.
Q.373
Hard
Under the RBI's directive, what is the maximum tenure for which a bank can provide a Masala Bond?
A
2 years
B
5 years
C
10 years
D
No fixed maximum tenure specified
Correct Answer:
D. No fixed maximum tenure specified
Explanation:
Masala Bonds are rupee-denominated bonds issued overseas with no fixed maximum tenure restriction, governed by FEMA guidelines.
Q.374
Hard
As per the latest RBI guidelines on cyber security (2024), what is the minimum frequency for conducting security audits by banks?
A
Annually
B
Semi-annually
C
Quarterly
D
Bi-annually at minimum
Correct Answer:
A. Annually
Explanation:
RBI mandates that banks conduct comprehensive security audits at least annually, with more frequent assessments for critical systems.
Q.375
Hard
Which Indian bank was accorded the status of a 'Domestic Systemically Important Bank' (D-SIB) in the latest RBI classification (2024)?
A
ICICI Bank, HDFC Bank, Axis Bank, State Bank of India
B
Only SBI and HDFC Bank
C
IDBI Bank and Union Bank of India
D
All Scheduled Commercial Banks
Correct Answer:
A. ICICI Bank, HDFC Bank, Axis Bank, State Bank of India
Explanation:
ICICI Bank, HDFC Bank, Axis Bank, and State Bank of India are classified as D-SIBs and required to maintain higher capital buffers due to systemic importance.
Q.376
Medium
The RBI's 'Retail Direct Scheme' allows individual investors to directly purchase government securities. What is a key benefit of this scheme?
A
Eliminates the role of brokers and reduces transaction costs
B
Provides guaranteed returns on investment
C
Allows unlimited investment without KYC requirements
D
Permits investment in corporate bonds exclusively
Correct Answer:
A. Eliminates the role of brokers and reduces transaction costs
Explanation:
The Retail Direct Scheme enables individuals to open accounts with RBI and purchase government securities directly, reducing intermediation costs.
Q.377
Easy
Which of the following is the regulatory body for banks in India?
A
Reserve Bank of India
B
State Bank of India
C
Securities and Exchange Board of India
D
Insurance Regulatory and Development Authority
Correct Answer:
A. Reserve Bank of India
Explanation:
RBI is the central bank and primary regulator of all banks in India.
Q.378
Easy
What is the current repo rate as per RBI's latest monetary policy (2024-2025)?
A
5.75%
B
6.50%
C
6.25%
D
5.50%
Explanation:
RBI has set the repo rate at 6.50% in its latest policy review of 2024-2025.
Q.379
Easy
Which bank is the largest public sector bank in India by asset size?
A
HDFC Bank
B
ICICI Bank
C
State Bank of India
D
Axis Bank
Correct Answer:
C. State Bank of India
Explanation:
State Bank of India (SBI) is the largest public sector bank in India.
Q.380
Easy
What does SWIFT stand for in banking?
A
Standard Wire for International Financial Transfer
B
Society for Worldwide Interbank Financial Telecommunication
C
Secure Wireless International Financial Transaction
D
System for World Integration of Financial Technology
Correct Answer:
B. Society for Worldwide Interbank Financial Telecommunication
Explanation:
SWIFT is the standard international system for financial messaging between banks.
