Banks questions and answer current affairs

51. Fixed Deposit (FD)Account may be opened for a
minimum period of:
Ans: 7 days

52. What is the minimum amount required to open
a Fixed Deposit (FD)?
Ans: Rs.1000

53. The Banks has converted all ‘no - frills'
accounts’ into:
Ans: Basic Savings Bank Deposit Accounts

54. 'Pradhan Mantri Jan Dhan Yojana' is a Scheme
for:
Ans: Financial inclusion

55. How much overdraft facility to be provided in
'Pradhan Mantri Jan Dhan Yojana' scheme?
Ans: Rs. 5,000

56. In CBS, C stands for:
Ans: Core

57. In CRAR, A stands for:
Ans: Assets (Capital to Risk Weighted Assets Ratio)

58. IMPS - Immediate Payment Service is an
interbank electronic instant mobile money transfer
service through mobile phones in India, the facility
is provided by:
Ans: NPCI (National Payment Corporation of India)

59. The Central Bank of India has adopted new
measure of inflation:
Ans: Consumer Price Index (CPI)

60. When a cheque is torn into two or more pieces
and presented for payment, such a cheque is
called:
Ans: mutilated cheque

61. How much fee charged to file a complaint
under Banking Ombudsman? Ans: Banking
Ombudsman does not charge any fee

62. Who is the appellate authority in Banking
Ombusdsman?
Ans Deputy Governor of RBI 63. If any customer is
not satisfied by the decision of Banking
Ombudsman, customer can appeal against the
award before the appellate authority within how
many days from the date of receipt?
Ans 30 days

64. ATMs or Cash Dispensing machine which are
owned and operated by Non-Banking Financial
Companies are called:
Ans: White Label ATMs.

65. RBI gave in-principle for Banking license to:
Ans: IDFC and Bandhan

66. Minimum capital requirement for new banks in
private sector is:
Ans: Rs. 500 crore

67. A Non-Banking Financial Company (NBFC) is a
company registered under the:
Ans: Companies Act, 1956

68. Minimum capital requirement for Non-Banking
Financial Company (NBFC) is:
Ans: Rs. 500 crore

69. The NBFCs are allowed to accept/renew public
deposits for a minimum period of:
Ans: 12 months ( and maximum period of 60
months)

70. A NBFCs cannot offer interest rates higher
than the ceiling rate prescribed by RBI? What is
the present ceiling?
Ans: 12.5 per cent per annum

71. Minimum capital requirement for Foreign banks
that want to set up operations in India is:
Ans: Rs. 500 crore

72. What is the minimum paid-up capital
requirement of both small banks and payments
banks in India?
Ans: Rs. 100 crore

73. RBI extended the timeline for full
implementation of Basel III norms till:
Ans: 31 March 2019

74. SLR ((Statutory Liquidity Ratio)is the amount
a commercial banks needs to maintain in the form
of _______before providing credit to its
customers.
Ans: cash, or gold, or govt. approved securities
(Bonds)

75. _______ is the rate at which banks borrow
funds overnight from the Reserve Bank of India
(RBI) against approved government securities.
Ans: Marginal Standing Facility (MSF)

76. Who issues Treasury bills (T-bills) in India?
Ans: Government of India

77. Treasury bills are available for a minimum
amount of:
Ans: Rs. 25,000

78. Minimum & Maximum Limit of NEFT:
Ans: no limit

79. What is the rate of interest rate on provident
fund for the current fiscal?
Ans: 8.75%

80. Govt. to implement GST (Goods & Services Tax)
new indirect tax regime from:
Ans: 1st April 2016

81. RBI extends deadline for exchanging pre-2005
currency from June 30, 2015 to
Ans: December 31, 2015

82. How much amount RBI allows in 'Tap and pay'
transactions without PIN?
Ans: Rs. 2000

83. RBI lifted a ban on carrying Indian bank notes
of Rs 1,000 and Rs. 500 denominations to and
from:
Ans: Nepal and Bhutan

84. C stands for in "KYC":
Ans: Customer

85. Pension scheme for unorganized sector:
Ans: Swavalamban

86. Full form of REIT:
Ans: Real State Investment Trust

87. Forward Market Commission merge with:
Ans: SEBI

88. Purpose of starting Minor account for 10 years
children:
Ans: Financial inclusion

89. Full form of CVV:
Ans: Card Verification Value

90. Bank of International Settlement headquarter:
Ans: Switzerland

91. Who appoints Banking Ombudsman officer?
Ans: RBI

92. IFRS full form:
Ans: International Financial Reporting Standards.

93. Corporate Social Responsibility committee
headed is by Ans: Anil Baijal

94. Which is the Regulatory body for RRBs?
Ans: NABARD

95. RBI policy related to money laundering?
Ans: Know Your Customer

96. Mutual funds regulated by:
Ans: SEBI (Securities and Exchange Board of India)

97. What is the full form of MTSS?
Ans: Money Transfer Service scheme

98. How much amount of money can RBI lend to a
bank?
Ans: 2% of NDTL

99. What RBI does to Increase its Monetary Base?
Ans: OMO Open Market Operations
100. Which rate does RBI Reduces to Increase
liquidity in market?
Ans: Repo Rate

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