What does the term 'Statutory Liquidity Ratio (SLR)' refer to?
Answer: B
SLR is the minimum percentage of deposits that commercial banks are required to maintain in the form of government securities and other approved securities with RBI.
Q.42Medium
Under the Pradhan Mantri Mudra Yojana (PMMY), who are the target beneficiaries?
Answer: B
PMMY targets non-corporate and non-farm small/micro businesses for collateral-free loans. It includes Shishu, Kishor, and Tarun loan schemes up to ₹10 lakh.
Q.43Medium
What is the significance of the CRR (Cash Reserve Ratio)?
Answer: B
CRR is the percentage of bank deposits that commercial banks are required to keep as cash reserves with the RBI without earning any interest.
Q.44Medium
What is the objective of the Pradhan Mantri Fasal Bima Yojana (PMFBY)?
Answer: B
PMFBY provides comprehensive crop insurance coverage to farmers against crop failure due to natural calamities, pests, and diseases at affordable premiums.
Q.45Medium
What is the current Inflation Target set by RBI for monetary policy?
Answer: B
RBI's inflation target is 4% (Consumer Price Index) with an upper tolerance of 6% and lower tolerance of 2%, as per the RBI Act amendment.
Advertisement
Q.46Medium
What is the full form of SWIFT?
Answer: B
SWIFT is the Society for Worldwide Interbank Financial Telecommunication, a secure international messaging system used for cross-border fund transfers.
Q.47Medium
Which of the following is NOT covered under the definition of a 'Non-Banking Financial Company' (NBFC)?
Answer: C
Commercial banks are not NBFCs. NBFCs are financial institutions that provide lending and other financial services but cannot accept deposits from the general public.
Q.48Medium
Which committee was constituted to review the regulatory framework for NBFCs in India?
Answer: B
The Usha Thorat Committee (2023) was constituted to review the regulatory framework for Non-Banking Financial Companies (NBFCs) in India.
Q.49Medium
As per DICGC norms (2024), what is the maximum deposit insurance coverage per depositor per bank?
Answer: A
The maximum deposit insurance coverage under DICGC is ₹5 lakhs per depositor per bank as per the current norms.
Q.50Medium
What does the term 'Statutory Liquidity Ratio (SLR)' refer to in banking?
Answer: A
SLR refers to the percentage of their deposits that commercial banks must maintain in the form of liquid assets like government securities.
Q.51Medium
Which of the following payment systems is operated by NPCI and is used for retail payments?
Answer: B
UPI (Unified Payments Interface) is operated by NPCI for retail payments. NEFT and RTGS are operated by RBI, while CHIPS is a US-based system.
Q.52Medium
What is the current policy repo rate set by RBI as of 2024-2025?
Answer: C
The RBI's policy repo rate stands at 6.5% as per the latest monetary policy decisions in 2024-2025.
Q.53Medium
What is the primary function of the Financial Intelligence Unit (FIU-IND) in India?
Answer: B
FIU-IND is India's financial intelligence unit responsible for combating money laundering and terrorist financing.
Q.54Medium
Under KYC norms, what is the maximum time within which a bank must complete customer verification?
Answer: C
As per RBI guidelines, banks must complete KYC verification within 30 days of opening an account.
Q.55Medium
Which of the following is covered under the Pradhan Mantri Jeevan Bima Yojana?
Answer: C
PMJBY provides accidental death insurance coverage to BPL families and unorganized sector workers at a minimal premium.
Q.56Medium
What does the term 'Non-Performing Asset (NPA)' mean in banking?
Answer: B
An NPA is a loan or advance where principal or interest payment is overdue by 90 days or more from the contractual due date.
Q.57Medium
Under the Pradhan Mantri Suraksha Bima Yojana (PMSBY), what is the coverage amount?
Answer: B
PMSBY provides accidental death insurance coverage of ₹2 lakhs to individuals aged 18-70 years at a nominal annual premium.
Q.58Medium
As per RBI's latest guidelines (2024), what is the minimum CRAR (Capital to Risk-Weighted Assets Ratio) requirement for Scheduled Commercial Banks?
Answer: B
RBI mandates a minimum CRAR of 10.5% for SCBs, comprising 5.5% Tier I capital and 5% Tier II capital as per Basel III framework.
Q.59Medium
The repo rate as of February 2024 is maintained at what level by RBI's Monetary Policy Committee?
Answer: B
As per RBI's latest monetary policy stance in 2024, the repo rate stands at 6.5% with a neutral policy stance.
Q.60Medium
Which RBI directive mandates banks to maintain Statutory Liquidity Ratio (SLR) at a minimum of what percentage of NDTL?
Answer: B
SLR is currently maintained at 21.5% of Net Demand and Time Liabilities (NDTL) as per RBI guidelines.
