What is the primary objective of the Digital Payment Index (DPI) launched by RBI?
Answer: B
The Digital Payment Index measures and monitors the progress of digital payments in the country across various segments.
Q.242Hard
Which framework governs Systemically Important Non-Banking Financial Companies (Si-NBFCs)?
Answer: C
RBI has a dedicated regulatory framework for NBFCs, with stricter norms for Si-NBFCs to maintain systemic stability.
Q.243Easy
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.244Medium
Under the Pradhan Mantri Jan Dhan Yojana (PMJDY), what is the overdraft limit allowed?
Answer: B
PMJDY accounts are eligible for an overdraft facility up to ₹10,000 after maintaining the account properly.
Q.245Hard
Which of the following is a Tier 1 capital component for banks?
Answer: B
Common Equity Tier 1 (CET1), consisting of paid-up capital and retained earnings, is the highest quality Tier 1 capital.
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Q.246Medium
What is the role of the Insolvency and Bankruptcy Board of India (IBBI)?
Answer: B
IBBI, established under the Insolvency and Bankruptcy Code 2016, regulates insolvency professionals and the resolution process.
Q.247Medium
Under Know Your Customer (KYC) norms, what is the validity period for re-KYC for high-risk customers?
Answer: A
As per RBI's 2024 KYC guidelines, high-risk customers require re-KYC verification every 2 years.
Q.248Hard
Which international agreement sets standards for combating financial crime and terrorism financing?
Answer: B
FATF recommendations are international standards for combating money laundering and terrorism financing.
Q.249Medium
What is the current base rate structure replaced with?
Answer: A
RBI replaced the Base Rate system with MCLR in 2016 to make lending rates more transparent and responsive to policy changes.
Q.250Hard
Which of the following banks is the oldest operating bank in India?
Answer: A
Bank of India, established in 1906, is one of the oldest operating banks. State Bank of India traces back to 1806 through Imperial Bank.
Q.251Easy
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.252Easy
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.
Q.253Medium
What is the maximum limit of deposits insured under DICGC?
Answer: B
The Deposit Insurance and Credit Guarantee Corporation (DICGC) provides deposit insurance coverage of up to ₹5 lakh per depositor per bank, increased from ₹1 lakh in 2020.
Q.254Medium
Which committee is responsible for reviewing the regulatory framework for banks in India?
Answer: C
The Basel Committee on Banking Supervision sets international standards for bank capital adequacy. Basel III norms have been implemented in India by RBI for regulatory framework.
Q.255Medium
What is the primary role of the Monetary Policy Committee (MPC)?
Answer: B
The Monetary Policy Committee, headed by the RBI Governor, is responsible for fixing the Repo Rate and conducting monetary policy to achieve inflation control and growth.
Q.256Easy
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.257Medium
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.258Medium
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.259Medium
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.260Hard
Which of the following is a characteristic of Tier-2 capital for banks?
Answer: B
Tier-2 capital includes subordinated debt, revaluation reserves, and general loan loss provisions. It supplements Tier-1 capital for meeting capital requirements.
