Current Banking Awareness Quiz – Set 25

Hello Aspirants. Welcome to Current Banking Awareness Quiz in AffairsCloud.com. Here we are covering some important Banking Awareness Questions. Do study this banking quiz thoroughly as it may prove to be helpful in upcoming exams.

1. RBI has set which date as the deadline to exchange pre-2005 notes?
   A) May 30, 2016
   B) May 15, 2016
   C) June 01, 2016
   D) June 30, 2016
   E) None of these
   
   Answer & Explanation

   D) June 30, 2016
   Explanation:
   Earlier the date was set to December 31, 2015. In December, Reserve Bank extended the deadline for exchanging pre-2005 currency notes of various denominations, including Rs 500 and Rs 1,000, by another six months to June 30, 2016.
   
   
2. From which date, guidelines to change the method for calculating base rate based on the marginal cost of funds came into effect?
   A) May 1, 2016
   B) April 1, 2016
   C) February 1, 2016
   D) June 1, 2016
   E) March 1, 2016
   
   Answer & Explanation

   B) April 1, 2016
   Explanation:
   All rupee loans sanctioned and credit limits renewed w.e.f. April 1, 2016 will be priced with reference to the Marginal Cost of Funds based Lending Rate (MCLR) which will be the internal benchmark for such purposes.
   
   
3. What is the target for Regional Rural Banks to give to Priority Sector lending?
   A) 65%
   B) 60%
   C) 70%
   D) 50%
   E) 75%
   
   Answer & Explanation

   E) 75%
   Explanation:
   Earlier the target was 60% for RRBs. Now with effect from January 2016, it is 75% as per revised norms.
   
   
4. In March, 2016, the International Finance Corporation (IFC), the investment arm of the World Bank launched its first Uridashi Masala Bonds. To which country do they belong?
   A) Japan
   B) China
   C) Russia
   D) Slovakia
   E) None of these
   
   Answer & Explanation

   A) Japan
   Explanation:
   International Finance Corporation (IFC) today launched its first Uridashi Masala Bonds (Japanese bonds) to mobilise Rs 30 crore from Japanese retail investors.
   Like Masala Bonds are for Indians.
   
   
5. Which of the following banks has tied up with online payment solutions startup Click&pay?
   A) Bandhan Bank
   B) IDFC bank
   C) Yes bank
   D) RBL bank
   E) None of these
   
   Answer & Explanation

   C) Yes bank
   Explanation:
   Private sector lender Yes Bank, has partnered with Click&pay, T-Hub’s portfolio company and a mobile-based payment solutions enterprise, to facilitate cashless, secure and flexible transactions for customers. As a part of this alliance, Click&pay will issue Yes Bank sponsored mobile wallets and employ Yes Bank’s immediate payments service (IMPS) payments platform which will help Click&pay to process instant proximity transactions with merchants and person to person.
   
   
6. Which currency is going to be added in IMF’s SDR basket effective from October 1, 2016?
   A) Yen
   B) Renminbi
   C) Ruble
   D) Dinar
   E) Indian Rupee
   
   Answer & Explanation

   B) Renminbi
   Explanation:
   According to the last SDR review in 2010, the use of the Chinese renminbi (RMB) in international payments has risen substantially, and also China continues to meet the export criterion for SDR inclusion, so Chinese renminbi (RMB) is also going to be added in SDRs basket.
   
   
   
7. BankBazaar.com launched a new ‘One Loan Two Homes’ program to help the residents of which city?
   A) Chennai
   B) Bengaluru
   C) Srinagar
   D) Pune
   E) Amritsar
   
   Answer & Explanation

   A) Chennai
   Explanation:
   BankBazaar.com, an online financial marketplace, has launched a new ‘One Loan Two Homes’ program to help the flood-affected citizens of Chennai.
   
   
8. Which committee submitted its report on Insolvency and Bankruptcy Code 2015?
   A) Anand Sharma
   B) Bhupender Yadav
   C) Naresh Gujral
   D) Praful Patel
   E) None of these
   
   Answer & Explanation

   B) Bhupender Yadav
   Explanation:
   Officials from the ministries of finance and corporate affairs briefed a Parliamentary panel on the Insolvency and Bankruptcy Code, 2015, which seeks to provide an easy exit option for insolvent and sick firms.
   
   
9. The National Payments Corporation of India has announced to launch which of the following product by the year-end?
   A) Debit Card
   B) Platinum Card
   C) Smart Card
   D) Credit Card
   E) None of these
   
   Answer & Explanation

   D) Credit Card
   Explanation:
   After the Rupay Debit Card which belongs to India, NPCI has decided to launch its much-delayed credit card before the year-end.
   
   
10. Which bank has asked central government help for backup on Winsome Group, India’s second largest ‘willful defaulter’?
    A) South Indian Bank
    B) Standard Chartered
    C) Saraswat Bank
    D) Punjab National Bank
    E) Deutsche Bank
    
    Answer & Explanation

    B) Standard Chartered
    Explanation:
    Winsome Group is in India’s largest defaulter after Vijay Mallya’s Kingfisher Airlines. It owes Rs 6,800 crore to 15 banks in India. The 15 lenders are led by Standard Chartered.