General Awareness
Q.101
Hard
Which act governs the functioning of cooperative banks in India?
A
Banking Regulation Act, 1949
B
State Cooperative Societies Act
C
Multi-State Cooperative Societies Act, 2002
D
All of the above
Correct Answer:
D. All of the above
Explanation:
Cooperative banks are governed by the Banking Regulation Act 1949, State Cooperative Societies Acts, and the Multi-State Cooperative Societies Act 2002.
Q.102
Hard
What is the maximum tenure for which RBI issues Treasury Bills?
A
30 days to 90 days
B
90 days to 180 days
C
30 days to 364 days
D
180 days to 1 year
Correct Answer:
C. 30 days to 364 days
Explanation:
RBI issues Treasury Bills with a maximum tenure of 364 days. T-Bills are issued at 14-day, 91-day, 182-day, and 364-day intervals.
Q.103
Easy
Which of the following is a features of a current account opened in banks?
A
No limit on number of transactions
B
Earns interest on deposits
C
Overdraft facilities available
D
Both A and C
Correct Answer:
D. Both A and C
Explanation:
Current accounts have no transaction limits and overdraft facilities. However, they do not earn interest on deposits.
Q.104
Medium
What is the primary function of the Financial Intelligence Unit (FIU-IND) in India?
A
To monitor banking sector stability
B
To investigate financial crimes and money laundering
C
To regulate stock markets
D
To supervise cooperative banks
Correct Answer:
B. To investigate financial crimes and money laundering
Explanation:
FIU-IND is India's financial intelligence unit responsible for combating money laundering and terrorist financing.
Q.105
Medium
Under KYC norms, what is the maximum time within which a bank must complete customer verification?
A
7 days
B
14 days
C
30 days
D
90 days
Correct Answer:
C. 30 days
Explanation:
As per RBI guidelines, banks must complete KYC verification within 30 days of opening an account.
Q.106
Medium
Which of the following is covered under the Pradhan Mantri Jeevan Bima Yojana?
A
Life insurance for BPL families
B
Health insurance for senior citizens
C
Accident insurance for BPL families
D
Property insurance for farmers
Correct Answer:
C. Accident insurance for BPL families
Explanation:
PMJBY provides accidental death insurance coverage to BPL families and unorganized sector workers at a minimal premium.
Q.107
Medium
What does the term 'Non-Performing Asset (NPA)' mean in banking?
A
Assets that are performing above expectations
B
Assets on which principal or interest is overdue by 90 days or more
C
Assets held by non-banking financial companies
D
Assets under management by investment funds
Correct Answer:
B. Assets on which principal or interest is overdue by 90 days or more
Explanation:
An NPA is a loan or advance where principal or interest payment is overdue by 90 days or more from the contractual due date.
Q.108
Hard
Which international regulatory framework prescribes capital adequacy standards for banks?
A
Basel I
B
Basel II
C
Basel III
D
All of the above
Correct Answer:
D. All of the above
Explanation:
Basel I, II, and III are progressive international regulatory frameworks for capital adequacy. Currently, Basel III is the most advanced framework.
Q.109
Hard
What is the significance of the Marginal Standing Facility (MSF) rate in RBI's monetary policy?
A
It is the minimum lending rate for banks
B
It is the rate at which banks can borrow from RBI against approved securities
C
It is the rate paid on savings accounts
D
It is the maximum deposit interest rate
Correct Answer:
B. It is the rate at which banks can borrow from RBI against approved securities
Explanation:
MSF is the rate at which scheduled commercial banks can borrow from RBI against approved securities for short-term liquidity needs.
Q.110
Medium
Under the Pradhan Mantri Suraksha Bima Yojana (PMSBY), what is the coverage amount?
A
₹1 lakh
B
₹2 lakhs
C
₹5 lakhs
D
₹10 lakhs
Correct Answer:
B. ₹2 lakhs
Explanation:
PMSBY provides accidental death insurance coverage of ₹2 lakhs to individuals aged 18-70 years at a nominal annual premium.
