Which banking service allows customers to access their bank account through mobile devices using Internet banking?
Mobile banking enables customers to perform banking transactions through smartphones via internet or mobile apps.
What does NEFT stand for in the context of banking?
NEFT is a system for transferring funds electronically between banks, processing transactions in batches at predetermined intervals.
Under the 2024 RBI guidelines, what is the minimum Capital Adequacy Ratio (CAR) required for Scheduled Commercial Banks?
RBI mandates a minimum CAR of 10.5% for SCBs (including Tier-1 and Tier-2 capital), exceeding Basel III minimum of 8%.
Which international financial organization publishes the Basel Accords that guide banking regulations?
BCBS, established in 1974, develops banking regulations and prudential standards, publishing Basel I, II, and III accords.
What is the purpose of the Marginal Standing Facility (MSF) introduced by RBI?
MSF allows scheduled banks to borrow funds overnight from RBI at a penal rate against eligible securities when other liquidity sources are exhausted.
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Which committee was constituted to review the regulation of shadow banking in India?
The Nayak Committee (2013) examined shadow banking entities and recommended a regulatory framework for NBFCs engaged in banking activities.
What is the tenure period for the current Governor of the Reserve Bank of India as of 2024-2025?
The RBI Governor's tenure is typically 6 years or until the age of 65 years, whichever is earlier.
Under which facility can banks borrow money from RBI on a temporary basis to manage short-term liquidity mismatches?
LAF allows banks to borrow through Repo (overnight) or Reverse Repo to manage short-term liquidity needs.
Which of the following is a regulatory tool used by RBI to control inflation and manage money supply?
OMO involves buying and selling government securities to regulate liquidity and money supply in the banking system.
What does CASA ratio indicate in banking?
CASA (Current Account Saving Account) ratio measures the proportion of low-cost deposits, indicating deposit quality and profitability.
Which act governs the regulation of microfinance institutions in India?
The Microfinance Institutions (Development and Regulation) Act, 2006 specifically regulates MFIs, focusing on transparency and consumer protection.
What is the primary role of the Financial Stability and Development Council (FSDC)?
FSDC, chaired by the Finance Minister, coordinates between RBI, SEBI, IRDA, and other financial regulators to ensure financial stability.
As per RBI's 2024 guidelines, what is the maximum Loan-to-Value (LTV) ratio for housing loans?
RBI guidelines specify 80% as the maximum LTV ratio for housing loans to manage systemic risk.
Which banking regulation framework replaced the Basel II framework?
Basel III replaced Basel II framework with stricter capital requirements and liquidity standards implemented post-2008 financial crisis.
What does NEFT stand for?
NEFT stands for National Electronic Fund Transfer, a system for electronic transfer of funds between banks in India.
Under which Act is the Payment and Settlement Systems regulated in India?
The Payment and Settlement Systems Act, 2007 provides the legal framework for regulating payment systems in India.
What is the tenure of the current Governor of RBI (as of 2024)?
The RBI Governor's tenure is 6 years or until age 65, whichever is earlier.
Which committee was set up to review the monetary policy framework in India?
The Urjit Patel Committee (2014) reviewed the monetary policy framework and recommended an inflation-targeting approach.
What is the current Statutory Liquidity Ratio (SLR) as per RBI's latest directive?
As of 2024, the SLR is set at 19.5% of Net Demand and Time Liabilities (NDTL).
Which of the following is an example of a non-bank financial institution (NBFI)?
Housing Finance Companies are regulated NBFIs that provide financing for housing but are not classified as banks.
