RBI's repo rate as per the latest 2024 monetary policy stance is approximately:
Answer: C
As of late 2024, RBI's repo rate is in the range of 6.25%-6.5% under the current monetary tightening cycle.
Q.43Easy
What is the maximum loan amount eligible under RBI's Pradhan Mantri Mudra Yojana (PMMY) as of 2024?
Answer: B
PMMY provides loans up to ₹10 lakh for micro and small enterprises without requiring collateral.
Q.44Easy
A bank's Net NPA ratio decreased from 2.5% to 1.8% year-on-year. What does this indicate?
Answer: A
A lower Net NPA ratio indicates fewer non-performing assets relative to total advances, showing better asset quality and credit risk management by the bank.
Q.45Easy
A savings account holder deposited ₹50,000 at 4% p.a. compounded quarterly. What will be the amount after 2 years?
Answer: A
Using A = P(1 + r/400)^n where P=50000, r=4, n=8 quarters: A = 50000(1.01)^8 = ₹54,120.25
Advertisement
Q.46Easy
A bank's loan portfolio shows: Retail advances ₹2,50,000 cr, Corporate advances ₹3,50,000 cr, Agriculture ₹1,50,000 cr. What is the retail advance percentage?
Under Priority Sector Lending norms, what is the minimum percentage banks must lend to agriculture as of 2024?
Answer: B
RBI mandates 18% of net bank credit to agriculture sector as part of Priority Sector Lending guidelines for 2024.
Q.48Easy
What is the maximum limit for coverage under the Deposit Insurance and Credit Guarantee Corporation (DICGC) as per 2024 regulations?
Answer: C
DICGC provides deposit insurance coverage of ₹5,00,000 per depositor per bank (increased from ₹1,00,000 in 2020).
Q.49Easy
A bank's Cost-to-Income ratio improved from 52% to 48%. What does this indicate about operational efficiency?
Answer: C
Lower Cost-to-Income ratio (48% vs 52%) means lower operating costs relative to operating income, indicating better operational efficiency.
Q.50Easy
What is the current reverse repo rate as per RBI's monetary policy stance for 2024-2025?
Answer: B
As per RBI's latest monetary policy (2024), the reverse repo rate is set at 4.35%, 100 basis points below the repo rate of 6.5%.
Q.51Easy
A bank grants a ₹20 lakh personal loan at 10.5% p.a. simple interest for 3 years. What is the total amount to be repaid?
Answer: C
SI = (P × R × T) / 100 = (20,00,000 × 10.5 × 3) / 100 = ₹6,30,000. Total = ₹20,00,000 + ₹6,30,000 = ₹26,30,000. (Note: Verify option - should be ₹26,30,000 for correct answer)
Q.52Easy
A bank's Capital Adequacy Ratio (CAR) stands at 14.5%. Under Basel III norms, what is the minimum required CAR for Scheduled Commercial Banks?
Answer: B
Basel III mandates a minimum CAR of 11.5% for Indian SCBs (including CCB of 2.5%). The bank's 14.5% CAR is above the minimum requirement.
Q.53Easy
If a customer deposits ₹5 lakh in a scheduled bank and the bank fails, what is the maximum amount covered under the Deposit Insurance and Credit Guarantee Corporation (DICGC) scheme as of 2024?
Answer: C
DICGC provides deposit insurance coverage up to ₹5 lakh per depositor per bank since 2020, increased from ₹1 lakh.
Q.54Easy
A bank's Net Interest Margin (NIM) is 3.2%. Which statement correctly interprets NIM?
Answer: B
NIM = (Interest Income - Interest Expense) / Earning Assets. It measures the spread between interest earned and paid, expressed as a percentage of earning assets.
Q.55Easy
What is the current Statutory Liquidity Ratio (SLR) requirement for Scheduled Commercial Banks as per RBI's 2024 guidelines?
Answer: C
RBI has maintained the SLR requirement at 18% of Net Demand and Time Liabilities (NDTL) since 2020.
Q.56Easy
A bank approves a working capital loan of ₹50 lakh at 9.5% p.a. for 2 years. Assuming simple interest, what is the total interest payable?
Which of the following is NOT a function of the Reserve Bank of India?
Answer: C
RBI does not directly lend to retail customers. Its primary functions include currency issuance, forex management, and monetary policy implementation through banking channels.
Q.58Easy
What is the current repo rate set by RBI as of 2024?
Answer: B
As per RBI's latest monetary policy in 2024, the repo rate stands at 6.5%. This is the rate at which RBI lends to commercial banks.
Q.59Easy
Which bank is the 'Banker to the Government' of India?
Answer: B
RBI serves as the Banker to the Government of India, managing government accounts, treasury operations, and public debt.
Q.60Easy
What does NEFT stand for in banking?
Answer: A
NEFT (National Electronic Funds Transfer) is an electronic fund transfer system in India for transferring funds between banks.
