Q1. E-KYC is possible only for those who have _______
(a) PAN Card
(b) Driving License
(c) Ration Card
(d) Aadhaar Number
(e) None of the given options is true
S1. Ans.(d)
Sol. e-KYC is possible only for those who have Aadhaar numbers. While using e-KYC service, you have to authorise the Unique Identification Authority of India (UIDAI), by explicit consent, to release your identity/address through biometric authentication to the bank branches/business correspondent (BC).
(a) NEFT
(b) RTGS
(c) NPCI
(d) BHIM
(e) UPI
S2. Ans.(e)
Sol. Unified Payments Interface (UPI) is a system that powers multiple bank accounts into a single mobile application (of any participating bank), merging several banking features, seamless fund routing & merchant payments into one hood. It also caters to the “Peer to Peer” collect request which can be scheduled and paid as per requirement and convenience.
Sol. Unified Payments Interface (UPI) is a system that powers multiple bank accounts into a single mobile application (of any participating bank), merging several banking features, seamless fund routing & merchant payments into one hood. It also caters to the “Peer to Peer” collect request which can be scheduled and paid as per requirement and convenience.
Q3. Banks can not generally accept interest-free deposits. Which of the following is an exception to this rule?
(a) Current Account
(b) Savings Account of Minors
(b) Deposit from Minority groups
(c) BSBDA
(e) None of the given options is true
S3. Ans.(a)
Sol. Banks cannot accept interest-free deposits other than in current account.
Sol. Banks cannot accept interest-free deposits other than in current account.
Q4. Deposits under Foreign Currency Non-Resident (FCNR) scheme can be accepted for a minimum of-
(a) Six months
(b) Three months
(c) One year
(d) 15 days
(e) Five Years
S4. Ans.(c)
Sol. The deposits should be accepted under the Foreign Currency Non- Resident(FCNR) Scheme for the following maturity periods:
1. One year and above but less than two years
2. Two years and above but less than three years
3. Three years and above but less than four years
4. Four years and above but less than five years
5. Five years only
Sol. The deposits should be accepted under the Foreign Currency Non- Resident(FCNR) Scheme for the following maturity periods:
1. One year and above but less than two years
2. Two years and above but less than three years
3. Three years and above but less than four years
4. Four years and above but less than five years
5. Five years only
Q5. What is the meaning of a bond issued by an Indian company expressed in foreign currency, and the principal and interest in respect of which is payable in foreign currency?
(a) ECB
(b) FCCBs
(c) Automatic Route
(d) FCNR
(e) None of the given options is true
S5. Ans.(b)
Sol. FCCBs means a bond issued by an Indian company expressed in foreign currency and the principal and interest in respect of which is payable in foreign currency. The bonds are required to be issued in accordance with the scheme viz., "Issue of Foreign Currency Convertible Bonds and Ordinary Shares (Through Depositary Receipt Mechanism) Scheme, 1993”, and subscribed by a non-resident in foreign currency and convertible into ordinary shares of the issuing company in any manner, either in whole, or in part, on the basis of any equity related warrants attached to debt instruments.
Sol. FCCBs means a bond issued by an Indian company expressed in foreign currency and the principal and interest in respect of which is payable in foreign currency. The bonds are required to be issued in accordance with the scheme viz., "Issue of Foreign Currency Convertible Bonds and Ordinary Shares (Through Depositary Receipt Mechanism) Scheme, 1993”, and subscribed by a non-resident in foreign currency and convertible into ordinary shares of the issuing company in any manner, either in whole, or in part, on the basis of any equity related warrants attached to debt instruments.
Q6. ECGC Limited (Export Credit Guarantee Corporation of India Ltd) is a company wholly owned by?
(a) RBI
(b) Government of India
(c) IRDAI
(d) NABARD
(e) Finance Ministry
S6. Ans.(b)
Sol. ECGC Ltd. (Formerly Export Credit Guarantee Corporation of India Ltd.), wholly owned by Government of India, was set up in 1957 with the objective of promoting exports from the country by providing Credit Risk Insurance and related services for exports. It functions under the administrative control of Ministry of Commerce & Industry and is managed by a Board of Directors comprising representatives of the Government, Reserve Bank of India, banking, and insurance and exporting community. Over the years it has designed different export credit risk insurance products to suit the requirements of Indian exporters and commercial banks extending export credit.
Sol. ECGC Ltd. (Formerly Export Credit Guarantee Corporation of India Ltd.), wholly owned by Government of India, was set up in 1957 with the objective of promoting exports from the country by providing Credit Risk Insurance and related services for exports. It functions under the administrative control of Ministry of Commerce & Industry and is managed by a Board of Directors comprising representatives of the Government, Reserve Bank of India, banking, and insurance and exporting community. Over the years it has designed different export credit risk insurance products to suit the requirements of Indian exporters and commercial banks extending export credit.
Q7. The Headquarters of Kotak Mahindra Bank is located in _______
(a) Mumbai
(b) Hyderabad
(c) Chennai
(d) Bengaluru
(e) New Delhi
S7. Ans.(a)
Sol. Kotak Mahindra Bank is an Indian private sector banking headquartered in Mumbai, Maharashtra.
Sol. Kotak Mahindra Bank is an Indian private sector banking headquartered in Mumbai, Maharashtra.
Q8. Minimum amount that can be invested in Kisan Vikas Patra (KVP) Certificate is _________
(a) Rs.100
(b) Rs.200
(c) Rs.500
(d) Rs.1000
(e) Rs.1500
S8. Ans.(d)
Sol. KVP certificates are available in the denominations of Rs 1000, Rs 5000, Rs 10000 and Rs 50000. The minimum amount that can be invested is Rs 1000. However, there is no upper limit on the purchase of KVPs.
Sol. KVP certificates are available in the denominations of Rs 1000, Rs 5000, Rs 10000 and Rs 50000. The minimum amount that can be invested is Rs 1000. However, there is no upper limit on the purchase of KVPs.
Q9. National Housing Bank (NHB), a wholly owned subsidiary of_________
(a) RBI
(b) Government of India
(c) IRDAI
(d) State Government
(e) NABARD
S9. Ans.(a)
Sol. National Housing Bank (NHB) is an apex level institution for housing. NHB was set up on July 9, 1988, under the National Housing Bank Act, 1987. NHB is wholly owned by Reserve Bank of India, which contributed the entire paid-up capital.
Sol. National Housing Bank (NHB) is an apex level institution for housing. NHB was set up on July 9, 1988, under the National Housing Bank Act, 1987. NHB is wholly owned by Reserve Bank of India, which contributed the entire paid-up capital.
Q10. Where is the corporate office of Micro Units Development and Refinance Agency (MUDRA) Bank?
(a) Kolkata
(b) Bengaluru
(c) Mumbai
(d) New Delhi
(e) Chennai
S10. Ans.(c)
Sol. Micro Units Development and Refinance Agency Bank (or MUDRA Bank) is a public sector financial institution has been the corporate office in Mumbai.
Sol. Micro Units Development and Refinance Agency Bank (or MUDRA Bank) is a public sector financial institution has been the corporate office in Mumbai.
Q11. Where is the headquarter of AU Small Finance Bank?
(a) Jalandhar, Punjab
(b) Ahmedabad, Gujarat
(c) Guwahati, Assam
(d) Bengaluru, Karnataka
(e) Jaipur, Rajasthan
S11. Ans.(e)
Sol. Jaipur, Rajasthan is headquartered of AU Small Finance Bank.
Sol. Jaipur, Rajasthan is headquartered of AU Small Finance Bank.
Q12. RBI was granted a licence to small Finance Banks for the commencement of banking business under Section ______ of the Banking Regulation Act, 1949.
(a) Section 38(3)
(b) Section 22(1)
(c) Section 47(4)
(d) Section 12(2)
(e) Section 27(5)
S12. Ans.(b)
Sol. RBI was granted a licence to small Finance Banks for the commencement of banking business under Section 22(1) of the Banking Regulation Act, 1949.
Sol. RBI was granted a licence to small Finance Banks for the commencement of banking business under Section 22(1) of the Banking Regulation Act, 1949.
Q13. The foreign shareholding in the small finance bank would be as per the FDI policy for _______________ as amended from time to time.
(a) Private Sector Banks
(b) Public Sector Banks
(c) Foreign Sector Banks
(d) Regional Rural Banks
(e) All of the above
S13. Ans.(a)
Sol. The foreign shareholding in the small finance bank would be as per the Foreign Direct Investment (FDI) policy for private sector banks as amended from time to time.
Sol. The foreign shareholding in the small finance bank would be as per the Foreign Direct Investment (FDI) policy for private sector banks as amended from time to time.
Q14. The promoter's minimum initial contribution to the paid-up equity capital of such small finance bank shall at least be ---------?
(a) 50 per cent
(b) 40 per cent
(c) 60 per cent
(d) 30 per cent
(e) 20 per cent
S14. Ans.(b)
Sol. The promoter's minimum initial contribution to the paid-up equity capital of such small finance bank shall at least be 40 per cent and gradually brought down to 26 per cent within 12 years from the date of commencement of business of the bank.
Q15. Small Finance Banks will be required to extend ________ of its ANBC to the sectors eligible for classification as priority sector lending (PSL) by the Reserve Bank.
(a) 55%
(b) 35%
(c) 75%
(d) 50%
(e) 10%
S15. Ans.(c)
Sol. The small finance banks will be required to extend 75 per cent of its Adjusted Net Bank Credit (ANBC) to the sectors eligible for classification as priority sector lending (PSL) by the Reserve Bank.
Sol. The small finance banks will be required to extend 75 per cent of its Adjusted Net Bank Credit (ANBC) to the sectors eligible for classification as priority sector lending (PSL) by the Reserve Bank.
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