Current Banking Awareness Quiz – Set 1

Hello Aspirants. Welcome to Current 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. RBI lowers repo rate by ___ basis points to 6.75 per cent
   a. 50
   b. 20
   c. 10
   d. 40
   
   Answer

   a. 50
   * Repo rate is the rate at which the central bank of a country (RBI in case of India) lends money to commercial banks in the event of any shortfall of funds.
   
   
2. RBI approves ___ entities to set up Small Finance Banks
   a. 30
   b. 40
   c. 10
   d. 60
   
   Answer

   c. 10
   * Small finance banks are a type of niche banks in India. Banks with a small finance bank license can provide basic banking service of acceptance of deposits and lending.
   
   
3. _____ state tops in ease of doing business in India: World Bank Report
   a. Gujarat
   b. Uttar pradesh
   c. Jammu and kashmir
   d. Tamil Nadu
   
   Answer

   a. Gujarat
   
   
4. Union Cabinet allows ____ per cent FDI under automatic route for white label ATMs
   a. 100
   b. 90
   c. 80
   d. 70
Answer
a. 100
* FDI is allowed under the automatic route without prior approval either of the Government or the Reserve Bank of India in all activities/sectors as specified in the consolidated FDI Policy, issued by the Government of India from time to time.


5. _____ launches IndPay mobile app service
   a.Indian Bank
   b. SBI
   c. RBI
   d. PNB
   
   Answer

   a. Indian Bank
   * Indian Bank customers can operate their banking accounts anytime and anywhere using the recently launched IndPay mobile app. The app is compatible with Android, Windows and iOS mobile operating systems.
   
   
6. _______, first micro finance company to start operation as a commercial bank
   a. Bandhan
   b. SBI
   c. RBI
   d. PNB
   
   Answer

   a. Bandhan
   * The microfinance activities are carried on by Bandhan Financial Services Pvt. Ltd
   
   
7. _______ of RBI recommends conversion of UCBs into regular banks
   a. R Gandhi Commitee
   b. S Gandhi commitee
   c. I Gandhi Commitee
   d. SRR Commmitee
   
   Answer

   a. R Gandhi Commitee
   
   
8. Government launched _______ loan portal for students seeking loans
   a. Education
   b. Home
   c. Personal
   d. Marriage
   
   Answer

   a. Education
   * Vidya Lakshmi Portal is the first of its kind portal providing single window for students to access information and make applications for educational loans provided by banks as also government scholarships
   
   
9. Reserve Bank of India granted ‘in-principle’ approval to __ applicants to start a payments bank
   a. 12
   b. 11
   c. 10
   d. 9
   
   Answer

   b. 11
   * Who has Reserve Bank granted in-principle approval to be a payment bank?
   -Aditya Birla Nuvo Ltd
   -Airtel M Commerce Services Ltd
   -Cholamandalam Distribution Services Ltd
   -Department of Posts
   -Fino PayTech Ltd
   -National Securities Depository Ltd
   -Reliance Industries Ltd
   -Dilip Shantilal Shanghvi
   -Vijay Shekhar Sharma
   -Tech Mahindra Ltd
   -Vodafone m-pesa Ltd
   
   
   
10. ____ Bank launches ‘Smart Vault’ digital locker facility
    a. ICICI
    b. PNB
    c. SBI
    d. RBI
    
    Answer

    a. ICICI
    * ICICI Bank, India’s largest private sector bank, has launched the ‘Smart Vault’, a fully automated locker available 24×7, including weekends and after banking hours. The ‘Smart Vault’ uses robotic technology to access lockers from the safe vault. It enables customers to access their lockers in a secure lounge where the locker automatically comes up to the customer.