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.262Hard
Which international standard governs anti-money laundering and counter-terrorist financing?
Answer: B
The Financial Action Task Force (FATF) establishes international standards for combating money laundering and terrorist financing. India complies with FATF recommendations.
Q.263Medium
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.
Q.264Hard
Under Basel III norms, what is the minimum Common Equity Tier-1 (CET-1) ratio requirement for banks?
Answer: A
Basel III prescribes a minimum CET-1 ratio of 4.5% of risk-weighted assets. India has implemented Basel III norms with additional conservation buffers.
Q.265Medium
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.
Advertisement
Q.266Medium
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.267Hard
What does the term 'Liquidity Coverage Ratio (LCR)' measure?
Answer: A
LCR under Basel III measures a bank's ability to survive a severe liquidity stress scenario lasting 30 days by maintaining sufficient high-quality liquid assets.
Q.268Easy
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.269Easy
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.270Medium
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.271Easy
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.272Medium
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.273Easy
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.
Q.274Medium
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.275Medium
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.276Medium
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.277Hard
Which act governs the functioning of cooperative banks in India?
Answer: D
Cooperative banks are governed by the Banking Regulation Act 1949, State Cooperative Societies Acts, and the Multi-State Cooperative Societies Act 2002.
Q.278Hard
What is the maximum tenure for which RBI issues Treasury Bills?
Answer: C
RBI issues Treasury Bills with a maximum tenure of 364 days. T-Bills are issued at 14-day, 91-day, 182-day, and 364-day intervals.
Q.279Easy
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.280Medium
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.
