Banking Awareness Quiz for Bank Exam: 27-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.

Banking Affairs 27th July 2020 Quiz

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 27th July 2020 covering the following topics: Fiscal policy, Demat Account, FDI, CRR, SLR, Small Finance Banks.

Q1. Fiscal policy is concerned with which of the following?
(a) Public revenue and Expenditure
(b) Issue of Currency
(c) Export Import
(d) Population Control
(e) Education for all

Q2. In which of the following types of banking, there is a direct execution of transaction between a bank and its consumers?
(a) Retail Banking
(b) Universal Banking
(c) Virtual Banking
(d) Unit Banking
(e) None of the given options is true

Q3. Loans against the security of shares, debentures and bonds should not exceed the limit of Rupees ____________ per individual if the securities are held in physical form.
(a) two lakhs
(b) five lakhs
(c) ten lakhs
(d) fifteen lakhs
(e) twenty lakhs

Q4. In case of failed ATM transactions, if the amount is not credited to customer’s account within 7 working days from the date of receipt of the complaint. Banks have to pay compensation at the rate of Rs.________ per day.
(a) 150
(b) 200
(c) 100
(d) 10
(e) 50

Q5. Which of the following is known as “Demat” account?
(a) Account in which shares are held in electronic form
(b) Account opened with zero balance
(c) Account allowed to be operated by guardian of minor
(d) Account operated by business correspondents in rural centres.
(e) None of the given options is true

Solutions

S1. Ans.(a)
Sol. Fiscal policy is the policy relating to government revenues from taxes and expenditure on various projects. Monetary Policy, on the other hand, is mainly concerned with the flow of money in the economy.

S2. Ans.(a)
Sol. Retail banking also known as Consumer Banking is the provision of services by a bank to individual consumers, rather than to companies, corporations or other banks. Services offered include savings and transactional accounts, mortgages, personal loans, debit cards, and credit cards.

S3. Ans.(c)
Sol. Loans against the security of shares, debentures and bonds should not exceed the limit of Rupees ten lakhs per individual if the securities are held in physical form and Rupees twenty lakhs per individual if the securities are held in dematerialised form. Such loans are meant for genuine individual investors, and banks should not support collusive action by a large group of individuals belonging to the same corporate or their inter-connected entities to take multiple loans in order to support particular scrip or stock-broking activities of the connected firms.Such finance should be reckoned as an exposure to capital market.

S4. Ans.(c)
Sol. Effective from July 1, 2011, banks have to pay compensation of Rs. 100/- per day for delays in re-crediting the amount beyond 7 working days from the date of receipt of complaint for failed ATM transactions. The compensation has to be credited to the account of the customer without any claim being made by the customer. If the complaint is not lodged within 30 days of transaction, the customer is not entitled for any compensation for delay in resolving his / her complaint.

S5. Ans.(a)
Sol. A Dematerialized account (Demat Account) is opened by the investor while registering with an investment broker (or sub-broker). Account in which shares are held in electronic form is known as Dematerialized account.

Start Your Preparation for RBI Assistant Mains? Fill this form to get free Study Material

Attempt More Quizzes Here:

You may also like to read:

• Current Affairs & Daily GK Updates 2020
• Latest GK and Current Affairs Questions With Answers For All Bank Exam
• SBI Clerk Result 2020
• Bihar Board 12th Result 2020
• NEET Admit Card 2020

27th July Current Affairs 2020 | Current Affairs Today | Daily Current Affairs 2020

Click Here to Register for Bank Exams 2020 Preparation Material

Visit Achieversadda.com and participate in discussions with other aspirants and achievers. Get answers to your queries and connect with others on Achieversadda.com

All the Best BA’ians for RBI Assistant Mains!