Which organization regulates insurance companies in India?
Answer: C
Insurance Regulatory and Development Authority of India (IRDAI) regulates and supervises insurance companies operating in India.
Q.62Easy
What is the full form of RTGS?
Answer: A
RTGS (Real Time Gross Settlement) is a system for real-time transfer of funds and securities between banks in India.
Q.63Easy
What does KYC stand for in banking?
Answer: A
KYC (Know Your Client) is a mandatory procedure for banks to verify customer identity and assess their financial profile to prevent fraud and money laundering.
Q.64Easy
What is the maximum period for which a bank can classify an account as NPA (Non-Performing Asset)?
Answer: B
RBI guidelines classify an account as NPA after 90 days of non-payment. This is the standard threshold for identifying non-performing assets in Indian banking.
Q.65Easy
Which rate does the RBI use as the benchmark for transmission of monetary policy?
Answer: B
The Repo Rate is the primary instrument used by RBI for monetary policy transmission. Banks' lending rates are benchmarked against this rate.
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Q.66Easy
What does CASA stand for in banking terminology?
Answer: A
CASA represents Current Account and Savings Account deposits, which are low-cost funding sources for banks and crucial for profitability metrics.
Q.67Easy
Under the Pradhan Mantri Jan Dhan Yojana (PMJDY), what is the overdraft limit for eligible beneficiaries?
Answer: B
PMJDY provides an overdraft facility of up to Rs. 10,000 to eligible account holders after 6 months of satisfactory operation of the account.
Q.68Easy
What is the tenure for which RBI Governor is appointed?
Answer: C
The RBI Governor is appointed for a tenure of 4 years, after which reappointment is possible. The current Governor is Sanjay Malhotra (appointed December 2023).
Q.69Easy
What is the primary objective of the Pradhan Mantri Mudra Yojana (PMMY)?
Answer: B
PMMY aims to provide collateral-free loans to micro and small enterprises for business purposes, with loans up to Rs. 10 lakh under the scheme.
Q.70Easy
As per the latest RBI guidelines (2024), what is the Statutory Liquidity Ratio (SLR) minimum requirement for Scheduled Commercial Banks?
Answer: B
As of 2024, the SLR minimum requirement is 18% of the bank's Net Demand and Time Liabilities (NDTL).
Q.71Easy
Which government scheme aims to provide social security coverage to unorganized workers?
Answer: A
PMJJBY provides life insurance coverage to unorganized workers at minimal premium, protecting their families.
Q.72Easy
Which banking service allows customers to access their bank account through mobile devices using Internet banking?
Answer: B
Mobile banking enables customers to perform banking transactions through smartphones via internet or mobile apps.
Q.73Easy
What does NEFT stand for in the context of banking?
Answer: A
NEFT is a system for transferring funds electronically between banks, processing transactions in batches at predetermined intervals.
Q.74Easy
What is the tenure period for the current Governor of the Reserve Bank of India as of 2024-2025?
Answer: C
The RBI Governor's tenure is typically 6 years or until the age of 65 years, whichever is earlier.
Q.75Easy
Which banking regulation framework replaced the Basel II framework?
Answer: B
Basel III replaced Basel II framework with stricter capital requirements and liquidity standards implemented post-2008 financial crisis.
Q.76Easy
What does NEFT stand for?
Answer: A
NEFT stands for National Electronic Fund Transfer, a system for electronic transfer of funds between banks in India.
Q.77Easy
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.78Easy
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.79Easy
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.80Easy
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.
