Banking Awareness Quiz – Set 150

Hello Aspirants,
Welcome to Banking Awareness Quiz in AffairsCloud.com. Here we are creating quiz covering important questions which are common for all the bank exams and other competitive exams.

1. The Deposits shall be held at the credit of the declarant in BLA maintained with ________
   A. GOI
   B. RBI
   C. NABARD
   D. SEBI
   E. None of these
   
   Answer & Explanation

   B. RBI
   Explanation:
   The Deposits shall be held at the credit of the declarant in BLA maintained with RBI.
   
   
2. What is the interest rate of Pradhan Mantri Garib Kalyan Deposit Scheme (PMGKDS)?
   A. 6%
   B. 4%
   C. 5%
   D. 3%
   E. No Interest
   
   Answer & Explanation

   E. No Interest
   Explanation:
   No interest in Pradhan Mantri Garib Kalyan Deposit Scheme(PMGKDS)
   
   
3. In, Pradhan Mantri Garib Kalyan Deposit Scheme (PMGKDS), the repayment of the deposit will be made after a period of _____
   A. 2 years
   B. 3 years
   C. 4 years
   D. 5 years
   E. None of these
   
   Answer & Explanation

   C. 4 years
   Explanation:
   The repayment of the deposit will be made after a period of 4 years.
   
   
4. Nomination facility is available as per the provisions of the Government Securities Act 2006 and ___________
   A. Government Securities Regulations, 2007
   B. Government Securities Regulations, 2006
   C. Government Securities Regulations, 2005
   D. Government Securities Regulations, 2004
   E. None of these
   
   Answer & Explanation

   A. Government Securities Regulations, 2007
   Explanation:
   Nomination facility is available as per the provisions of the Government Securities Act 2006 and Government Securities Regulations, 2007.
   
   
5. BLA stands for ______
   A. Bond Ledger Account
   B. Bond Lending Account
   C. Basic Ledger Account
   D. Basic Lending Account
   E. None of these
   
   Answer & Explanation

   A. Bond Ledger Account
   Explanation:
   BLA – Bond Ledger Account
   
   
6. Sovereign Gold Bond (SGB) are sold through __________ either directly or through their agents.
   A. Scheduled Commercial Banks(excluding RRBs)
   B. SHCIL Offices
   C. Designated Post Offices
   D. All of these
   E. None of these
   
   Answer & Explanation

   D. All of these
   Explanation:
   Sovereign Gold Bond (SGB) are sold through Scheduled Commercial Banks(excluding RRBs), SHCIL Offices and  Designated Post Offices either directly or through their agents.
   
   
7. SGBs bear interest at the rate of ______ per annum on the amount of initial investment.
   A. 1.75%
   B. 1.25%
   C. 1.50%
   D. 2.75%
   E. None of these
   
   Answer & Explanation

   D. 2.75%
   Explanation:
   SGBs bear interest at the rate of 2.75% per annum on the amount of initial investment.
   
   
8. SGB Bonds are issued in denominations of _____ gram of gold.
   A. One
   B. Two
   C. Three
   D. Four
   E. All of these
   
   Answer & Explanation

   A. One
   Explanation:
   SGB Bonds are issued in denominations of one gram of gold.
   
   
9. In SGB Bonds Payment can be made through cash up to ______
   A. Rs. 5000
   B. Rs. 10000
   C. Rs. 20000
   D. Rs. 25000
   E. None of these
   
   Answer & Explanation

   C. Rs. 20000
   Explanation:
   Payment can be made through cash up to Rs. 20000.
   
   
10. Sovereign Gold Bonds can be held in ______ account.
    A. Current Account
    B. SB Account
    C. Term Deposits
    D. Demat
    E. None of these
    
    Answer & Explanation

    D. Demat
    Explanation:
    Sovereign Gold Bonds can be held in Demat account.