Banking And Financial Awareness MCQ - Set 29

Banking And Financial Awareness MCQ - Set 29

Dear Readers,

Solve the Banking And Financial Awareness MCQ/ Quiz  on a regular basis from Achiever's Rule . You must follow the Banking Articles,  Daily Current Affairs Update, Current Affairs Articles to prepare for the upcoming IBPS, RBI, SBI Exams. You may download the available PDFs.

Q1.Who is appointed as the part-time member of IRDA ?
A]Pramukh Jadeja
B]Sanjeev Khurana
C]Ravi Mittal
D]Ashok Nanda
E]None of them

Q2.Which of the following statements is/are true about the Cyber Audit planned by RBI ?
A]The new Cyber Audit will be applicable for all banks.
B]The banks not having the security measures as per RBI standards will have to comply within certain time.
C]It will initiate action against the banks which will not have the essential security measures even after warning.
D]It will analysis the gap on the basis of the reports.
E]All of these

Q3.Airtel Payment Bank has tied up with which of the following ?
A]BSNL
B]HPCL
C]NMDC
D]BHEL
E]None of these

Q4.Which of the following statements is/ are true about the APA scheme ?
A]The Central Board of Direct Taxes has entered into the 9 unilateral Advanced Pricing Agreements(APA) scheme with the tax payers.
B]It provides the certainty to the tax payers in transfer pricing domain by specifying the methods of pricing.
C]It will determine the price of Arm's length of International transactions in advance for maximum period of 5 years.
D]18 UAPAs have been signed in the current financial year.
E]All of these

Q5.Who is appointed as the head of the Supervision Department ?
A]Vikash Singh
B]Akash Sharma
C]S S Mundra
D]N S Viswanathan
E]None of them

Q6.RBI has imposed a fine on which of the following banks for the non-compliance of the Know-Your-Customers norms ?
A]United Bank of India
B]Union Bank of India
C]State Bank of India
D]Dena Bank
E]Vijaya Bank

Q7.Who is the Secretary General of Federation of Indian Chambers of Commerce and Industry ?
A]Sanjaya Baru
B]Didar Singh
C]Satish Mehra
D]Asutosh Jain
E]None of them

Q8.What is the recent Repo Rate imposed by RBI ?
A]5.75%
B]6%
C]6.25%
D]6.5%
E]7%

Q9.Who is the new chairman of Bombay Stock Exchange ?
A]Raghubir Mishra
B]Dhirendra Swarup
C]Asutosh Jindal
D]Ravi Mehra
E]None of them

Q10."Where Service is a Way of Life" is the tagline of which bank ?
A]Punjab National Bank
B]Punjab and Sindh Bank
C]Dena Bank
D]Vijaya Bank
E]None of them

Q11.SBI Credit Cards are integrated with of the following ?
A]PayPal
B]Samsung Pay
C]Paytm
D]Digi Pay
E]None of these

Q12.AFC stands for which of the following ?
A]Adequate Finance Company
B]Alternate Finance Company
C]Asset Finance Company
D]Amount Finance Company
E]None of them

Q13.Which is the regulator for the Housing Finance Company ?
A]RBI
B]NHB
C]SBI
D]GOI
E]None of these

Q14.MGC stands for which of the following ?
A]Mutual Guarantee Companies
B]Multi Guarantee Companies
C]Marketing Guarantee Companies
D]Mortgage Guarantee Companies
E]None of them

Q15.The Head Quarters of Bank for International Settlements is situated in which country ?
A]USA
B]Switzerland
C]Italy
D]Germany
E]England

Explanation

Explanation 1. Ravi Mittal is appointed as the part-time member of IRDA (Insurance Regulatory and Development Authority). He is the additional secretary of Ministry of Finance.

Explanation 2. The new Cyber Audit planned by RBI will be applicable for all banks.The banks not having the security measures as per RBI standards will have to comply within certain time.It will initiate action against the banks which will not have the essential security measures even after warning. It will analysis the gap on the basis of the reports.

Explanation 3. Airtel Payment Bank has tied up with HPCL ( Hindustan Petroleum Corporation Limited) to provide boost to digital payments in India. All of the 14000 HPCL fuel stations will act as the banking points for Airtel Payments Bank. Bank customers can make digital payments by using mobile phones for fuel purchase.

Explanation 4. The Central Board of Direct Taxes has entered into the 9 unilateral Advanced Pricing Agreements (APA) scheme with the tax payers.It provides the certainty to the tax payers in transfer pricing domain by specifying the methods of pricing. It will determine the price of Arm's length of International transactions in advance for maximum period of 5 years. 18 UAPAs have been signed in the current financial year.

Explanation 5. N S Viswanathan is appointed as the head of the Supervision Department. He is appointed in the post after the retirement of is appointed as the head of the Supervision Department. He will be the in charge of banking, non- banking and co-operative banking .

Explanation 6. RBI has imposed a fine on Union Bank of India for the non-compliance of the Know-Your- Customers norms. KYC is the process by which banks can obtain information about the identity and address of customers.

Explanation 7. Sanjaya Baru is the Secretary General of Federation of Indian Chambers of Commerce and Industry. He was the media advisor of Prime Minister Manmohan Singh. He was the Principal Advisor to FICCI President.

Explanation 8. The recent Repo Rate imposed by RBI is 6%. The Reverse Repo Rate is 5.75%.

Explanation 9. Dhirendra Swarup is the new chairman of Bombay Stock Exchange. He is the former Chairman of PFRDA and has approximately 40 years experience of finance, budgeting and public debt management.

Explanation 10. "Where Service is a Way of Life" is the tagline of Punjab and Sindh Bank. The Bank is founded in 1908 by Vir Singh.

Explanation 11. SBI Credit Cards are integrated with the Samsung Pay. It works on point-of-sale terminals through the magnetic secured transmission technology. It allows payments by waiving Samsung Smart Phone near cash counter instead of swapping a card.

Explanation 12. AFC stands for Asset Finance Company. It is the financial institution of financing of the physical assets which supports the productive or economic activity.

Explanation 13. National Housing Bank regulates, registers and supervises the Housing Finance Companies. It is a wholly owned subsidiary of Reserve Bank of India.

Explanation 14.MGC stands for Mortgage Guarantee Companies.It is the joint venture which combines the developmental procedures of the National Housing Bank.

Explanation 15. The Head Quarters of Bank for International Settlements is situated in Basel of Switzerland.