Banking Awareness Questions For NICL AO Mains Exam 2017

Just a few days are left for NICL AO Exam. It is time to pace up your preparation of Banking Awareness for NICL AO Mains Exam. These Banking questions will also help you in preparing for other upcoming banking recruitment examination.

Q1. Who among the following regulates the Indian Corporate Debt Market?

(a) RBI

(b) NABARD

(c) SIDBI 

(d) SEBI

(e) PFRDA

Q2. _______ is integrated bill payment systems which will offer interoperable bill payment service to customers online as well as through a network of agents on the ground.

(a) BBPS

(b) IMPS

(c) AEPS

(d) APBS

(e) None of the given options is true

Q3. To become BBPOUs, Banks and non-bank entities are mandatorily required to apply for approval/authorisation to Reserve Bank of India under ________

(a) Payment and Settlement Systems (PSS) Act 2007

(b) Foreign Exchange Management Act, 1999

(c) Banking Regulation Act, 1949

(d) SARFAESI Act, 2002

(e) None of the given options is true

Q4. Which of the following will function as the Bharat Bill Payment Central Unit (BBPCU), single authorised entity operating the BBPS?

(a) RBI

(b) NPCI

(c) GOI

(d) SEBI

(e) NABARD

Q5. As per the Reserve Bank of India, BBPS will initially accept utility bill payments such as-

(a) Telephone Bill

(b) Electricity Bill

(c) DTH services

(d) All of the Above

(e) None of the given options is true

Q6. ___________ to provide guaranteed clearing and settlement functions for transactions in Money, G-Secs, Foreign Exchange and Derivative markets.

(a) NPCI

(b) SEBI

(c) GOI

(d) RBI

(e) CCIL

Q7. _________ will be authorised operational entities, adhering to the standards for facilitating bill payments online as well as through a network of agents, on the ground.

(a) BBPCU

(b) BBPOU

(c) Biller Payment

(d) Creditor

(e) Assets and Liabilities

Q8. ___________ a/an electronic trading platform, operated by the Reserve Bank of India, used to facilitate the exchange of government securities and other money market instruments. 

(a) Delivery versus Payment (DvP)

(b) Negotiated Dealing System (NDS)

(c) Risk Mitigation

(d) Competition Commission of India (CCI)

(e) None of the given options is true

Q9. The Clearing Corporation of India Ltd. (CCIL) was set up in-

(a) December 2010

(b) February 1995

(c) September 2006

(d) April 2001

(e) March 1999

Q10. Which of the following is the mode of settlement of securities wherein the transfer of securities and funds happen simultaneously?

(a) Delivery versus Payment (DvP)

(b) Negotiated Dealing System

(c) Clearing Corporation of India Ltd. (CCIL)

(d) All of the Above

(e) None of the given options is true

Q11. How many module/modules have Negotiated Dealing System (NDS)?

(a) Five

(b) One 

(c) Three

(d) Six

(e) Two

Q12. The monetary ceiling of the amount for settlement through Lok Adalat is?

(a) 5 lakh

(b) 10 lakh

(c) 15 lakh

(d) 20 lakh

(e) 25 lakh

Q13. EEFC is an account maintained in foreign currency with an Authorised Dealer Category. EEFC stands for- 

(a) Exchange Effective’ Foreign Cash Account

(b) Exchange Earners’ Financial Currency Account

(c) Exchange Earners’ Foreign Core Amount

(d) Electronic Earners’ Foreign Currency Account

(e) Exchange Earners’ Foreign Currency Account

Q14. Under the provisions of Section _______ of the Banking Regulation Act, 1949 (As Applicable to Cooperative Societies), primary (urban) cooperative banks are required to obtain permission from the Reserve Bank of India for opening branches.

(a) Section 25

(b) Section 45

(c) Section 52

(d) Section 23

(e) Section 35

Q15. An EEFC account can be held only in the form of a-

(a) Saving Account

(b) Current Account

(c) Recurring Deposit Account

(d) Loan Account

(e) Dematerialised (Demat) Account

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