Banking Awareness Quiz for Bank Exam: 15-June-2020

The Banking Awareness section constitutes a major part of a competitive examination and needs your undivided attention. With the increased competition in the field of Banking examinations, it has now become very important to cover up all the sections efficiently. One subject that can help you bagging graceful marks in the minimum time in these examinations is Banking Awareness. Banking Awareness Quiz not only helps you deal with the General Awareness Section of Banking Exams but also, the Personal Interview round of Banking or Insurance Recruitment.

To complement your preparation for General Awareness section of the upcoming exams like SBI Clerk Mains and RBI Assistant Mains we are providing you Banking Awareness Quiz of 15th June 2020 covering the following topics: CDR, Fixed Deposit, Banking Ombudsman, National Investment and Infrastructure Fund.

Q1. A savings as well as current account should be treated as inactive if there are no transactions in the account for over a period of _____ months.
(a) 24 months
(b) 30 months
(c) 12 months
(d) 06 months
(e) 36 months

Q2. CDR mechanism is a voluntary non statutory mechanism under which financial institutions and banks come together to restructure the debt of companies facing financial difficulties due to internal or external factors, in order to provide timely support to such companies. What is the meaning of “R” in CDR?
(a) Regulation
(b) Reserve
(c) Restructuring
(d) Ratio
(e) Reduce

Q3. What is the minimum amount required to open a Fixed Deposit (FD)?
(a) Rs. 1000
(b) Rs. 100
(c) Rs. 500
(d) Rs. 300
(e) No Limit

Q4. If one is not satisfied with the decision passed by the Banking Ombudsman, one can approach the appellate authority to _______.
(a) Governor of RBI
(b) Deputy Governor of the RBI
(c) Finance Secretary
(d) Finance Minister
(e) GM of the Concern Bank

Q5. Headquarters of National Investment and Infrastructure Fund (NIIF) is located at ________.
(a) New Delhi
(b) Hyderabad
(c) Mumbai
(d) Kolkata
(e) Chennai

Solutions

S1. Ans.(c)
Sol. If you have a current or a savings bank account and have not done any transactions through it for more than 12 months, then it will be classified as an inactive account. And if you don’t do any transactions from a bank account for 24 months, then it will be classified as dormant.

S2. Ans.(c)
Sol. Corporate Debt Restructuring (CDR) mechanism is a voluntary non statutory mechanism under which financial institutions and banks come together to restructure the debt of companies facing financial difficulties due to internal or external factors, in order to provide timely support to such companies.

S3. Ans.(a)
Sol. The minimum deposit required to open an FD varies from banks to banks and ranges between Rs. 1,000 to Rs. 10,000. There is no upper limit. For instance, the minimum amount that can be deposited in State Bank of India is Rs. 1,000.

S4. Ans.(b)
Sol. If one is not satisfied with the decision passed by the Banking Ombudsman, one can approach the appellate authority against the Banking Ombudsmen’s decision. Appellate Authority is vested with a Deputy Governor of the RBI.

S5. Ans.(c)
Sol. National Investment and Infrastructure Fund Limited (NIIFL) is an investor-owned fund manager, anchored by the Government of India (GoI) in collaboration with leading global and domestic institutional investors. The headquarters of NIIF is in Mumbai.

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