Banking Awareness Quiz for Bank Exam: 16-July-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 16th July 2020 covering the following topics: Priority sector lending, PSLCs, Golf-centric credit card, Mobile payment solution.

Q1. Which of the following Act provides provisions for regulation of credit information companies?
(a) Companies Act, 1956
(b) Credit Information (Companies Regulation Act, 2005)
(c) Information Technology Act, 2000
(d) Banking Regulation Act, 1949
(e) None of the given options is true

Q2. __________ are certificates issued by banks that have overreached their priority sector lending targets.
(a) Commercial Papers
(b) Certificate of Deposits
(c) Treasury Bills
(d) Priority Sector Lending Certificates
(e) None of the given options is true

Q3. How many types of PSLCs can be issued by the Banks?
(a) Four
(b) Five
(c) Six
(d) Eight
(e) Ten

Q4. Which bank has launched India’s first golf-centric credit card?
(a) SBI
(b) UBI
(d) PNB
(d) RBL
(e) ICICI

Q5. Which bank has launched India’s first contact less mobile payment solution?
(a) ICICI
(b) Kotak Mahindra Bank
(c) Indusind Bank
(d) South Indian Bank
(e) Axis Bank

Solutions

S1. Ans.(b)
Sol. Credit Information (Companies Regulation Act, 2005) provides for regulation of credit information companies and to facilitate efficient distribution of credit and for matters connected therewith or incidental thereto.

S2. Ans.(d)
Sol. Domestic banks as well as foreign banks have to lend of their total loans to priority sectors which consist of agriculture, micro credits, education, social infrastructure and housing so that these unprivileged sections can get credit. To encourage lending to the priority sector, the central bank has introduced the concept of Priority Sector Lending Certificates (PSLC).

S3. Ans.(a)
Sol. There are only four eligible categories of PSLCs i.e. PSLC General, PSLC Small and Marginal Farmer, PSLC Agriculture & PSLC Micro Enterprises.

S4. Ans.(d)
Sol. RBL Bank (formerly Ratnakar Bank) has launched India’s first golf-centric credit card. The card based on the premium MasterCard World platform was launched in association with the Indian Golf Union (IGU).

S5. Ans.(a)
Sol. ICICI Bank has unveiled the country’s first contactless mobile payment solution to enable its credit and debit customers make in-store contactless payments by just waving their smartphones near an NFC-enabled merchant terminal. The mobile payment solution available in the Bank’s ‘Pockets’ app, provides improved convenience of ‘Touch & Pay’ as customers are no longer required to carry physical card or cash to pay in stores.

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