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.
Q.82Easy
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.83Easy
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.84Easy
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.85Easy
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.
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Q.86Easy
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.87Easy
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.88Easy
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.89Easy
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.90Easy
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.91Easy
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.92Easy
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.93Easy
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.94Easy
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.95Easy
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.96Easy
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.
Q.97Easy
Which of the following is a negotiable instrument used in banking?
Answer: B
A Promissory Note is a negotiable instrument that represents a written promise to pay a specified sum to a creditor.
Q.98Easy
What does KYC stand for in banking terminology?
Answer: A
KYC (Know Your Client) is a mandatory compliance process to verify customer identity and assess their financial profile.
Q.99Easy
Which scheme provides crop insurance coverage to farmers in India?
Answer: A
Pradhan Mantri Fasal Bima Yojana (PMFBY) provides crop insurance protection to farmers against crop failure due to natural calamities.
Q.100Easy
What is the full form of NPA in banking context?
Answer: A
NPA (Non-Performing Asset) refers to a loan or advance where interest and principal payments are overdue for 90 days or more.
