Description : Which of the following will function as the Bharat Bill Payment Central Unit (BBPCU), single authorized entity operating the BBPS? A. RBI B. NPCI C. GOI D. All of the Above E. None of the Above
Last Answer : B. NPCI Explanation: National Payments Corporation of India (NPCI) will function as the authorized Bharat Bill Payment Central Unit (BBPCU), which will be responsible for setting business ... BBPCU, will also undertake clearing and settlement activities related to transactions routed through BBPS.
Description : Who finalises the value and volume of the notes to be printed every year? A. Independently by Ministry of Finance B. Independently by Ministry of Government of India C. Committee of Bank Heads D. With Mutual Consultation of the GOI and Bank Heads E. With Mutual Consultation of the RBI and GOI
Last Answer : E. With Mutual Consultation of the RBI and GOI Explanation: The Reserve Bank based on the demand requirement indicates the volume and value of banknotes to be printed each year to the ... the demand for banknotes, GDP growth, replacement of soiled banknotes, reserve stock requirements, etc.
Description : Which of the following institutions is responsible for the supervision of RRBs? A. RBI B. SEBI C. NABARD D. GOI E. Both (A) and (C)
Last Answer : E. Both (A) and (C) Explanation: NABARD has been sharing with the Reserve Bank of India certain supervisory functions in respect of cooperative banks and Regional Rural Banks (RRBs).
Description : As per RBI said in its statement, banks have to seek whose permission before selling stake in stressed companies? A) GOI B) CVC C) RBI D) CBI E) Both B and D
Last Answer : E) Both B and D Explanation: Following the central bank s directive to banks to ensure that stake sales in stressed companies under the strategic debt restructuring (SDR) does not get ... the Central Vigilance Commission (CVC) before closing such deals, people familiar with the development said.
Description : Bank Holidays are covered by which of the following? A. As per the order of the GOI B. As per the order of the IBA C. Negotiable Instruments Act D. RBI Act E. Other than those given as options
Last Answer : C. Negotiable Instruments Act Explanation: Bank Holidays are declared by Central/State Governments/ Union Territory under the Negotiable Instruments (NI) Act, 1881.
Description : Spurious coins detected at the counter are sent to _____ A. RBI B. GOI C. IBRD D. Mint E. None of the Above
Last Answer : D. Mint Explanation: when Spurious coins tendered over the counter, it should be cut and handed over to the tenderer. If the tenderer disputes it, the coins should be sent to the mint at his cost, for examination.
Description : Which of the following is/are share holders of CERSAI? A. GOI B. RBI C. PSBs D. NHB E. (A), (C) and (D)
Last Answer : E. (A), (C) and (D) Explanation: The Company is a Government Company with a shareholding of 51% by the Central Government and select Public Sector Banks and the National Housing Bank are also shareholders of the Company.
Description : Which of the following provides license to a credit bureau? A. SEBI B. SIDBI C. NABARD D. RBI E. GOI
Last Answer : D. RBI Explanation: A Credit Bureau is licensed by the RBI.
Description : Which of the following contributed the entire paid-up capital in National Housing Bank(NHB)? A. GOI B. RBI C. SEBI D. NABARD E. None of the Above
Last Answer : B. RBI Explanation: RBI contributed the entire paid-up capital in National Housing Bank(NHB).
Description : NHB is wholly owned by ______ A. GOI B. RBI C. SEBI D. NABARD E. None of the Above
Last Answer : B. RBI Explanation: NHB is wholly owned by Reserve Bank of India.
Description : Which of the following is an Association of Commercial Banks, Financial Institutions and Primary Dealers? A. GOI B. RBI C. PSBs D. FEDAI E. FIMMDA
Last Answer : E. FIMMDA Explanation: FIMMDA stands for The Fixed Income Money Market and Derivatives Association of India (FIMMDA). It is an Association of Commercial Banks, Financial Institutions and Primary Dealers. FIMMDA is a voluntary market body for the bond, Money And Derivatives Markets.
Description : Who among the following appoints the “Authorized Dealers” for foreign exchange transactions? A. GOI B. RBI C. PSBs D. FEDAI E. FIMMDA
Last Answer : D. FEDAI Explanation: Foreign Exchange Dealer s Association of India (FEDAI) was set up in 1958 as an Association of banks dealing in foreign exchange in India (typically called Authorised Dealers - ... among banks vis-à-vis public and liaison with RBI for reforms and development of forex market.
Description : Which of the following is the clearing agency for Government securities? A. RBI B. GOI C. CCIL D. SEBI E. None of the Above
Last Answer : C. CCIL Explanation: The CCIL is the clearing agency for Government securities. It acts as a Central Counter Party (CCP) for all transactions in Government securities by interposing itself between two counter parties.
Description : Which of the following is the Regulator of the credit rating agencies in India ? A. RBI B. SEBI C. SIDBI D. GOI E. None of the Above
Last Answer : B. SEBI Explanation: The capital market regulator regulates rating agencies in most regions. In India, the capital markets regulator, the Securities and Exchange Board of India (SEBI), regulates the rating agencies in the country.
Description : Which of the following does not guarantee the repayment of deposits accepted by NBFCs? A. RBI B. GOI C. SEBI D. NABARD E. None of the Above
Last Answer : A. RBI Explanation: RBI does not guarantee the repayment of deposits accepted by NBFCs.
Description : Banking Code & Standards Board of India(BCSBI) set up by ________ A. SEBI B. Ministry of Finance C. RBI D. GOI
Last Answer : C. RBI Explanation: The Banking Codes and Standards Board of India (BCSBI) is an independent banking industry watchdog that protects consumers of banking services in India. The board oversee compliance with the ―Code of Bank‘s Commitment to Customers‖
Description : An open source platform for mobile-to-mobile fund transfers without account details launched by NPCI was ________ A. Unified Payment Interface B. Union of Payment Interface C. Payment Interface D. Unique Payment Interface E. People‘s Payment Interface
Last Answer : A. Unified Payment Interface Explanation: UPI allows you to pay directly from your bank account to different merchants without the hassle of typing your card details, or netbanking/wallet password.
Description : Which bank has launched USSD based mobile app for basic banking needs with NPCI A) United Bank of India B) Union Bank of India C) UCO Bank D) Indian Bank E) Indian Overseas Bank
Last Answer : B) Union Bank of India Explanation: National Payments Corporation of India (NPCI), the umbrella organisation for all retail payments system in the country has partnered with Union Bank of India to ... customers and can be used even without any internet connection as it does not require any data.
Description : Which of the following is a USSD based mobile banking service from NPCI that brings together all the Banks and Telecom Service Providers?. A. WAP B. QSAM C. NUUP D. Both (A) and (B) E. Both (B) and (C)
Last Answer : C. NUUP Explanation: NUUP (National Unified USSD Platform) is a USSD based mobile banking service from NPCI that brings together all the Banks and Telecom Service Providers.
Description : Authorised capital of National Payments Corporation of India (NPCI) is _________ and paid up capital is _______ A. Rs 300 crore and Rs 100 crore B. Rs 350 crore and Rs 50 crore C. Rs 200 crore and Rs 100 crore D. Rs 100 crore and Rs 50 crore
Last Answer : A. Rs 300 crore and Rs 100 crore Explanation: National Payments Corporation of India (NPCI) was incorporated in December 2008 and the Certificate of Commencement of Business was issued in ... dimension and operate on high volume resulting payment services at fraction of the present cost structure.
Description : The Headquarters of National Payments Corporation of India(NPCI) is ________ A. New Delhi B. Hyderabad C. Mumbai D. Chennai
Last Answer : C. Mumbai Explanation: National Payments Corporation of India (NPCI), Mumbai is an umbrella organization for all retail payments system in India. It was set up with the guidance and ... varying service levels into nation-wide uniform and standard business process for all retail payment systems.
Description : Axis Bank has tied up with which payments company to operate its Unified Payments Interface (UPI) enabled app? A) PayU B) Paytm C) Freecharge D) Mobikwik E) Oxigen
Last Answer : C) Freecharge Explanation: Country‘s third largest private sector lender Axis Bank said it is ready with a Unified Payments Interface (UPI) app, while it also announced a tie-up with digital payments company Freecharge for it.
Description : For customers of how many banks, the UPI mobile application is going to launch in the first phase? A) 21 B) 19 C) 15 D) 25 E) None of these
Last Answer : A) 21 Explanation: According to NPCI, the UPI application of 19 banks can be downloaded from Google Play Store in next two to three working days. The list of banks providing the app on Google ... k The customers of IDBI Bank and RBL Bank can download any UPI enabled apps and link their account.
Description : UPI will eliminate the need of entering ________ details A. Bank Account Number B. IFSC Code C. CVV code D. All of the Above E. None of the Above.
Last Answer : D. All of the Above Explanation: UPI can be used for shopping at the supermarket, or online shopping as well. It will eliminate the need of entering card details such as number, expiry date, CVV code and OTP.
Description : Unified Payment System (UPI), a common platform which links your _________ to a virtual payment address, effectively making money transfer as easy as an SMS. A. Bank Account Number B. IFSC Code C. Virtual Address D. All of the Above E. None of the Above.
Last Answer : A. Bank Account Number Explanation: Unified Payment System (UPI), a common platform which links your bank account number to a virtual payment address, effectively making money transfer as easy as an SMS.
Description : In UPI, we can Send money to any bank account through mobile without entering ____________ A. debit/credit card details B. net banking/wallet password C. receiver‘s account number. D. All of the Above E. None of the Above.
Last Answer : D. All of the Above Explanation: Send money up to Rs 1 lakh to any bank account through the mobile without entering debit/credit card details, net banking/wallet password or even knowing the receiver‘s account number.
Description : Which of the following is the format of Virtual Address in UPI? A. [name] @ [bank name] B. [Phone number] @ [bank name] C. [name] @ [bank branch name] D. Both (A) and (B) E. Both (B) and (C)
Last Answer : D. Both (A) and (B) Explanation: Instead of account details, the receiver can share a virtual address, which can be your name, or your phone number and the sender can ... your phone number is 1234567890, then your virtual address could be 1234567890@axisbank or 1234567890@icicibank and so on.
Description : What is the upper transaction limit of UPI system? A. 1 lakh B. 2 lakh C. 5 lakh D. 10 lakh E. No limit
Last Answer : A. 1 lakh Explanation: The upper transaction limit of UPI is Rs.1 lakh.
Description : Customers using the UPI system only share _____ A. Bank Account Number B. IFSC Code C. Virtual Address D. All of the Above E. None of the Above.
Last Answer : C. Virtual Address Explanation: Customers using the system do not have to disclose any sensitive information such as bank account numbers or IFSC codes during a financial transaction. It is safe as the customers only share a virtual address and provide no other sensitive information.
Description : Which of the following is the Slogan of UPI(Unified Payment Interface)? A. Less Amount More Digital B. Less Cash More Transaction C. Less Cashflow More Digital D. Less Circulation More Digital E. Less Cash More Digital
Last Answer : E. Less Cash More Digital Explanation: Less cash more digital is the Slogan of UPI(Unified Payment Interface)
Description : Which organisation collects data for the unorganised sector ? (1) NSSO (2) CSO (3) ASI (4) RBI
Last Answer : NSSO
Description : Long-term debt securities issued by the GOI or any of the State Government‟s or undertakings owned by them or by development financial institutions are called as ________ A. Shares B. Debentures C. Bonds D. Both (A) and (C) E. None of the Above
Last Answer : C. Bonds Explanation: Long-term debt securities issued by the Government of India or any of the State Government‘s or undertakings owned by them or by development financial institutions are called as bonds.
Description : Authorised Collection Center(ACC) is an agent appointed by SHCIL? A. SU-UTI B. GOI C. GIC D. SHCIL E. All of the Above
Last Answer : D. SHCIL Explanation: ACC means Authorised Collection Center (ACC). Its an agent appointed by SHCIL. ACC is the intermediary between the CRA and Stamp Duty payer.
Description : UPI is the abbreviation of: A. United Press of India B. United Press of Indonesia C. United Press International D. None of these
Last Answer : A. United Press of India
Description : What is referred to as “Kissa-goi”? -SST 10th
Last Answer : Kissa-goi is the traditional art of storytelling.
Description : Govt fixes MSP for various .agri.commodities on the recommendation of a.CACP b.MoA c.GOI d. MoE
Last Answer : a.CACP
Description : The RBI has allowed Axis Bank to raise shareholding to up to ____ from the earlier limit of 49%. A) 54% B) 62% C) 59% D) 64% E) 70%
Last Answer : B) 62% Explanation: The Reserve Bank of India (RBI) allowed the bank to raise foreign shareholding limit to 62%, from the earlier limit of 49%. Foreign institutional investors (FIIs)/registered foreign ... 49% up to 62%of the paid-up capital of Axis Bank under the Portfolio Investment Scheme (PIS)
Description : RBI‟s which deputy governor/s is going to get retired on July 7 this year? A) Urjit Patel B) SS Mundra C) R Gandhi D) HR Khan E) All of the above
Last Answer : D) HR Khan Explanation: Khan is due to retire on July 7 as he turns
Description : Who is the head of committee which has been made to select the next RBI governor, as present RBI Governor Mr. Raghuram Rajan‟s term will end in closer to September 2016? A) PK Mishra B) Urjit Patel C) R Gandhi D) P K Sinha E) None of these
Last Answer : D) P K Sinha Explanation: The committee route would be in sync with PM Narendra Modi‘s remark that the appointment is an ―administrative decision‖ that will be taken closer to September when Rajan‘s term ends. PK Sinha is the Cabinet Sectretary.
Description : Which of the following has decided to block LPG subsidy and PAN of the tax defaulters? A) RBI B) SBI C) Income Tax Department D) Govt. of India E) Finance Ministry
Last Answer : C) Income Tax Department Explanation: Income Tax Department is set to block Permanent Account Number (PAN) of wilful defaulters and their LPG subsidy and take measures to ensure that they are not sanctioned loans.
Description : Name the newly appointed deputy governor of RBI. A) NS Vishwanathan B) KR Subramaniam C) Sarvesh Rana D) NS Iyer E) None of these
Last Answer : A) NS Vishwanathan Explanation: The Union Government has appointed NS Vishwanathan as deputy governor of the Reserve Bank of India (RBI). His appointment was approved by the Appointments Committee of the Cabinet (ACC) presided by Prime Minister Narendra Modi in New Delhi.
Description : Who has been appointed as the head of Working Group on Fin Tech and Digital Banking by RBI? A) NS Vishwanathan B) KR Subramaniam C) Sarvesh Rana D) NS Iyer E) Sudarshan Sen
Last Answer : E) Sudarshan Sen Explanation: The Reserve Bank of India (RBI) has set up an inter-regulatory Working Group to study the regulatory issues relating to Financial Technology (Fintech) and Digital ... Working Group will be headed by RBI s Executive Director Sudarshan Sen and consist of 12 members.
Description : Sudarshan Sen has been appointed as the Executive Director of RBI. He replaced A) NS Vishwanathan B) KR Subramaniam C) Sarvesh Rana D) NS Iyer E) None of these
Last Answer : A) NS Vishwanathan Explanation: The Union Government has appointed NS Vishwanathan as deputy governor of the Reserve Bank of India (RBI). His appointment was approved by the Appointments Committee of the ... Prime Minister Narendra Modi in New Delhi. In his place, Sudarshan Sen has been appointed.
Description : What is the initial minimum paid-up equity capital required for new on-tap license to set up private bank as announced by RBI? A) Rs 5 crore B) Rs 100 crore C) Rs 500 crore D) Rs 50 crore E) Rs 200 crore
Last Answer : C) Rs 500 crore Explanation: The Reserve Bank of India released norms for on-tap permits for private sector banks and said the validity of the in-principle approval issued by the RBI will be 18 months from the date of granting in-principle approval.
Description : Recently, Yeldi Softcom received a licence for RBI to set up which of the following? A) open wallet B) semi-closed wallet C) closed wallet D) semi-open wallet E) None of these
Last Answer : B) semi-closed wallet Explanation: Yeldi Softcom received its semi-closed wallet license on Wednesday from the Reserve Bank of India. This opens up a new league of possibilities in terms ... set of merchants that have been contracted specifically by the issuer of the semi-closed wallet.
Description : RBI has imposed a fine of Rs 1 crore on which of the following banks for flouting bill discounting norms? A) Syndicate Bank B) United Bank of India C) Indian Overseas Bank D) UCO Bank E) Vijaya Bank
Last Answer : D) UCO Bank Explanation: Reserve Bank of India has told state-run Uco Bank to pay Rs 1 crore penalty for flouting bill discounting norms which allowed current account holders siphon out funds.
Description : RBI has imposed how much fine on 13 banks for violation of FEMA and lapses in know your client (KYC) rules? A) Rs 24 crore B) Rs 25 crore C) Rs 27 crore D) Rs 28 crore E) Rs 29 crore
Last Answer : C) Rs 27 crore Explanation: The Reserve Bank of India has come down hard on 13 banks and fined them for Rs 27 crore for violation of FEMA and lapses in know your client (KYC) rules.
Description : The structure of the registry which will enable quick sharing of information about unstructured borrowers and help banks fight bad loans. The registry is called _______ A. CIBIL B. Fraudelent Borrowers List C. RBI wilful Defaulter List D. Central Fraud Registry E. None of the Above
Last Answer : D. Central Fraud Registry Explanation: The Reserve Bank of India has operationalised a Central Fraud Registry (CFR). The registry will make available more information to banks at the time of starting a ... of an account. The CFR is a centralised searchable database which can be accessed by banks.
Description : The largest shareholder of a nationalized bank is_______ A. RBI B. Government of India C. NABARD D. All of the Above E. None of the Above
Last Answer : B. Government of India Explanation: Public Sector Banks (PSBs) are banks where a majority stake (i.e. more than 50%) is held by a government.The shares of these banks are listed on stock ... 2011 IDBI bank and in 2014 Bharatiya Mahila Bank were nationalized with a minimum capital of Rs 500 crore.
Description : The Foreign exchange of India is kept with _________ A. SBI B. ECGC C. RBI D. NABARD E. other than those given as options
Last Answer : C. RBI Explanation: Reserve Bank of India accumulates foreign currency reserves by purchasing from authorized dealers in open market operations. Foreign exchange reserves of India act as a cushion against rupee ... Currency Assets (b) Gold (c) SDRs (d) Reserve Tranche Position in the IMF.