Banking And Financial Awareness MCQ- Set 24

Banking And Financial Awareness MCQ- Set 24

Dear Readers,

Follow the  Daily Current Affairs Update, Current Affairs Articles, Banking Articles from Achiever's Rule to complete your preparation for the upcoming IBPS, RBI, SBI Exams. You must solve the Banking And Financial Awareness MCQ/ Quiz on a daily basis. You may download the available PDFs.

Q1.Who is appointed as the MD and CEO of Oriental Bank of Commerce ?
A]Animesh Chauhan
B]Arvind Mehta
C]Mukesh Kumar Jain
D]Pulkit Mishra
E]None of them

Q2.Who is appointed as the MD and CEO of National Stock Exchange of India ?
A]Harsh Bhatt
B]Vikram Limaye
C]Rahul Kumar
D]Arjun Chandela
E]Ashish Srivastav

Q3.Which of the following organizations has filed an Initial Public Offering ?
A]Bajaj Allianz General Insurance Co. Ltd.
B]Bharti Axa General Insurance Co. Ltd.
C]Cholamandalam MS General Insurance Co. Ltd.
D]ICICI Lombard General Insurance
E]None of these

Q4.What is percentage of rise in transaction through cards post demonetization ?
A]5%
B]6%
C]7%
D]8%
E]10%

Q5.Which Bank has received $150 mn from OPIC to fund SME lending ?
A]Dena Bank
B]Axis Bank
C]ICICI Bank
D]HDFC Bank
E]Yes Bank

Q6.Who has been Conferred the "Personality Of The Year" Award by Skoch Consultancy Services?
A]Mukesh Kumar Jain
B]Urjit Patel
C]Arundhuti Bhattacharya
D]Kishore Sansi
E]None of them

Q7."Your Family Bank, Across India" is the tagline of which of the following Banks ?
A]Karnataka Bank
B]Dena Bank
C]Vijaya Bank
D]Punjab And Sind Bank
E]None of these

Q8.What is/are the function(s) of EXIM Bank ?
A]To pay special attention to the export of capital goods
B]To extend customer's credit and credit lines
C]To project export
D]To solve the problems of the exporters
E]All of these

Q9.Who generally pays for the loss in case of an insurance arrangement ?
A]Agent
B]Insurer
C]Insured
D]Broker
E]None of these

Q10.FSDC stands for which of the following ?
A]Financial Stability And Development Council
B]Fundamental Stability And Development Council
C]Fiscal Stability And Developed Council
D]Financial Security And Debt Council
E]None of these

Q11.Who are benefited by the Reverse Mortgage Scheme ?
A]Students
B]Govt. Pension Holders
C]Farmers
D]Senior Citizens
E]Unemployed person

Q12.What is Fiat Money ?
A]The money which is temporarily accepted by Govt. keeping Gold as deposit
B]The money which decreed by the Govt. as money
C]The money which is temporarily accepted by Govt. keeping Silver as deposit
D]The money which is accepted internationally
E]None of these

Q13.What is the motto of Marginal Standing Facility introduced by RBI ?
A]Controls Bad Debt
B]Controls Inflation
C]Controls Deflation
D]Contains instability in the overnight inter-bank rates
E]None of these

Q14.In which year SBI has merged with the Bharatiya Mahila Bank ?
A]2015
B]2017
C]2012
D]2014
E]2011

Q15.What do you mean by Cryptocurrency ?
A]Plastic Money
B]Digital Currency
C]Paper Money
D]All of these
E]None of these

Explanation

Explanation 1. Mukesh Kumar Jain is the MD and CEO of Oriental Bank of Commerce for the 3 years. He was the Executive Director of Punjab And Sind Bank.

Explanation 2. Vikram Limaye is appointed as the MD and CEO of National Stock Exchange of India. He was a member in the Committee of Administrators of the Board of Control for Cricket in India.

Explanation 3. ICICI Lombard General Insurance has filed an Initial Public Offering(IPO) . It is First Non life Insurance Company to file for a public offering.

Explanation 4. According to the Govt. Officials there is an increase of 7% in case of the transactions through Credit and Debit cards after Demonetization. Highest Rise is seen in case of transactions through UPI.

Explanation 5. Yes Bank has received $150 mn from OPIC to fund SME lending.It is the third installment of funding the bank has received from Overseas Private Investment Corporation (OPIC), US.

Explanation 6. MD and CEO of Vijaya Bank Kishore Sansi gets the "Personality Of The Year" Award by Skoch Consultancy Services.This award is a part of Skoch Banking And Financial Leadership Series.

Explanation 7. "Your Family Bank, Across India" is the tagline of Karnataka Bank.It was established in 1924.Its head office is situated in Mangalore.

Explanation 8. The EXIM(Export Import Bank of India) Bank was established in 1982. the head office is situated at Mumbai. The objectives of the Bank are pay special attention to the export of capital goods, extend customer's credit and credit lines, export projection and problem solving of the exporters.

Explanation 9. According to the rule of Insurance, An Insurer must pay for the loss in case of insurance arrangement.

Explanation 10. FSDC stands for Financial Stability And Development Council which is an Apex Body contitued by Govt. of India. It provides financial stability, Financial Literacy, financial inclusion etc.

Explanation 11. Reverse Mortgage Scheme will benefit the Senior Citizens.It is opposite of a general home loan scheme.Borrower receives the loan in installment and loan must be payed at one time.

Explanation 12. The money which decreed by the Govt. as money, is called as Fiat Money. It acts as the alternative of commodity money and representative money.

Explanation 13. Marginal Standing Facility introduced by RBI Contains instability in the overnight inter-bank rates.Bank can borrow upto 2% of the time liabilities and respective net demand.

Explanation 14. The SBI and Bhartiya Mahila Bank are merged on 01st April 2017. SBI is the largest Public lender of India.

Explanation 15. Cryptocurrency is a digital currency. In it encryption techniques are used to control the generation of currency and verify fund transfer.