Banking Awareness Quiz – Set 95

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. Which of the following is an independent banking industry watchdog that protects consumers of banking services in the country?
   A. BBB
   B. IBA
   C. BCSBI
   D. IBRD
   E. None of the Above
   
   Answer & Explanation

   C. BCSBI
   Explanation:
   The Banking Codes and Standards Board of India (BCSBI) is an independent banking industry watchdog that protects consumers of banking services in India.
   
   
2. Which of the following is the headquarters of BCSBI?
   A. Chennai
   B. New Delhi
   C. Mumbai
   D. Hyderabad
   E. None of the Above
   
   Answer & Explanation

   C. Mumbai
   Explanation:
   Headquarters of BCSBI is located in Mumbai.
   
   
3. BCSBI is governed by a _______ governing Council including one Chairman.
   A. six-member
   B. Four-member
   C. Five-member
   D. Three-member
   E. None of the Above
   
   Answer & Explanation

   A. six-member
   Explanation:
   The board is governed by a six-member governing Council including one Chairman.
   
   
4. BCSBI registered as an independent and autonomous body under ________
   A. RBI Act 1934
   B. Societies Registration Act, 1860
   C. Banking Regulation Act, 1949
   D. The Companies Act, 1956
   E. Both (B) and (C)
   
   Answer & Explanation

   B. Societies Registration Act, 1860
   Explanation:
   BCSBI is an independent and autonomous body, registered as a separate society under the Societies Registration Act, 1860.
   
   
5. Which of the following is/are non-banking subsidiary of the State Bank of India?
   A. SBI Capital Markets Ltd.
   B. SBI General Insurance Company Limited.
   C. SBI Funds Management Pvt Ltd.
   D. All of the Above
   E. None of the Above
   
   Answer & Explanation

   D. All of the Above
   Explanation:
   SBI has the following Non-Banking Subsidiaries in India:
   SBI Capital Markets Ltd.
   SBI Funds Management Pvt Ltd.
   SBI Global Factors Ltd.
   SBI Cards & Payments Services Pvt. Ltd. (SBICPSL)
   SBI DFHI Ltd.
   SBI General Insurance Company Limited.
   SBI Pension Funds Pvt Ltd (SBIPFPL)
   
   
6. The International Bank for Reconstruction and Development(IBRD) is an international financial institutions that offer loans to _____
   A. Multinational Banks
   B. Multinational Financial Institutions
   C. Middle Income Developing Countries
   D. Non Government Organizations
   E. None of the Above
   
   Answer & Explanation

   C. Middle Income Developing Countries
   Explanation:
   The International Bank for Reconstruction and Development (IBRD) is an international financial institution that offers loans to middle-income developing countries.
   
   
7. The “in-principle” approval for setting up ‘small finance banks’ granted by RBI will be valid for ______
   A. 12 Months
   B. 24 Months
   C. 10 Months
   D. 18 Months
   E. None of the Above.
   
   Answer & Explanation

   D. 18 Months
   Explanation:
   The “in-principle” approval granted will be valid for 18 months to enable the applicants to comply with the requirements under the Guidelines and fulfil other conditions as may be stipulated by the RBI.
   
   
8. Which of the following is an independent commodity exchange based in Mumbai?
   A. MGEX
   B. MCE
   C. MDEX
   D. MCX
   E. MEX
   
   Answer & Explanation

   D. MCX
   Explanation:
   Multi Commodity Exchange of India Ltd (MCX) (BSE: 534091) is an independent commodity exchange based in India. It was established in 2003 and is based in Mumbai.
   
   
9. Which of the following state is known as “Cradle of Indian Banking”?
   A. Kerala
   B. Maharashtra
   C. Tamil Nadu
   D. Karnataka
   E. Uttar Pradesh
   
   Answer & Explanation

   D. Karnataka
   Explanation:
   The state of Karnataka, particularly the region comprising the coastal districts of Dakshina Kannada and Udupi is called as the cradle of banking in India. This is because seven of the country’s leading banks, Canara Bank, Syndicate Bank, Corporation Bank, Vijaya Bank, Karnataka Bank, Vysya Bank and the State Bank of Mysore originated from this state.
   
   
10. Which of the following is a pension scheme focused on the workers in the unorganiaed sector?
    A. SSY
    B. AMRUT
    C. APY
    D. PMAY
    E. None of the Above
    
    Answer & Explanation

    C. APY
    Explanation:
    Atal Pension Yojna (APY) a guaranteed pension scheme administered by PFRDA and established by Government of India. This scheme mainly for workers in unorganised sector.