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.2Easy
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.3Easy
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.4Easy
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.
Q.5Easy
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.
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Q.6Easy
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.7Easy
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.8Easy
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.9Easy
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.
Q.10Easy
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.11Easy
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.12Easy
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.13Easy
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.14Easy
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.15Easy
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.16Easy
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.17Easy
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.18Easy
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.19Easy
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.20Easy
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.
