What is the tenure of the current Governor of RBI (as of 2024)?
Answer: C
The RBI Governor's tenure is 6 years or until age 65, whichever is earlier.
Q.22Easy
What is the minimum amount required to open a Sukanya Samriddhi Account?
Answer: C
The minimum opening balance for Sukanya Samriddhi Account is ₹1,000 as per 2024 guidelines.
Q.23Easy
What is the current Repo Rate as per RBI's monetary policy (as of 2024)?
Answer: A
As of 2024, RBI has maintained the Repo Rate at 6.50% in its monetary policy stance. The Repo Rate is the rate at which RBI lends to commercial banks.
Q.24Easy
Which bank has the highest number of branches as of 2024?
Answer: A
State Bank of India (SBI) has the largest branch network among all banks in India, with over 20,000 branches across the country.
Q.25Easy
Which of the following banks is NOT a public sector bank?
Answer: C
Axis Bank is a private sector bank. Punjab National Bank, Canara Bank, and Indian Bank are all public sector banks promoted by the Government of India.
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Q.26Easy
Which of the following is the regulatory body that oversees the payment and settlement systems in India?
Answer: C
The Reserve Bank of India (RBI) oversees payment and settlement systems in India. NPCI is a subsidiary of RBI that operates retail payment systems.
Q.27Easy
What is the full form of RTGS, which is used for large value fund transfers in India?
Answer: A
RTGS stands for Real Time Gross Settlement, which is used for settlement of large value transactions on a real-time basis.
Q.28Easy
What is the primary objective of the Deposit Insurance and Credit Guarantee Corporation (DICGC)?
Answer: B
DICGC's primary objective is to insure deposits of depositors and guarantee credits of banks up to specified limits.
Q.29Easy
Which of the following is NOT a function of the RBI?
Answer: C
Stock exchanges are regulated by SEBI, not RBI. RBI issues currency, regulates monetary policy, and acts as banker to the government.
Q.30Easy
Which of the following is a features of a current account opened in banks?
Answer: D
Current accounts have no transaction limits and overdraft facilities. However, they do not earn interest on deposits.
Q.31Easy
Which of the following is a feature of digital banking in India's financial inclusion drive?
Answer: D
Digital banking provides reduced costs, 724 access, and enables financial inclusion for unbanked populations through mobile and internet banking.
Q.32Easy
Which of the following is NOT a type of deposit account offered by commercial banks?
Answer: C
Perpetual Deposit Account is not a standard deposit category. Banks offer Savings, Current, Fixed, and Recurring deposits.
Q.33Easy
What is the primary objective of the Pradhan Mantri Jan Dhan Yojana (PMJDY)?
Answer: B
PMJDY aims at financial inclusion by providing zero-balance bank accounts and access to banking services for all.
Q.34Easy
What is the full form of SWIFT in banking operations?
Answer: B
SWIFT is the Society for Worldwide Interbank Financial Telecommunication, used for secure international fund transfers.
Q.35Easy
In banking terminology, what does 'Amortization' refer to?
Answer: B
Amortization is the process of gradually paying off a loan through regular, scheduled installments over time.
Q.36Easy
What is the coverage amount under the Deposit Insurance and Credit Guarantee Corporation (DICGC) scheme as of 2024?
Answer: C
DICGC provides deposit insurance coverage of ₹5 lakhs per depositor per bank to ensure depositor security.
Q.37Easy
Which of the following is the regulator of payment systems in India?
Answer: A
The RBI is the central bank and primary regulator of payment systems in India, including NEFT, RTGS, and UPI.
Q.38Easy
What is the full form of KYC in banking?
Answer: A
KYC (Know Your Client) is a mandatory process for banks to verify customer identity and assess potential risks of illegal activities.
Q.39Easy
Which digital payment system is promoted by RBI and developed by NPCI?
Answer: B
UPI is a real-time payment system developed by NPCI and promoted by RBI for seamless fund transfers.
Q.40Easy
Which RBI scheme was introduced to address financial inclusion and reduce digital divide?
Answer: A
Pradhan Mantri Jan Dhan Yojana targets financial inclusion by opening basic bank accounts for all citizens, especially the unbanked.
