1. The term of National Bank For Agriculture And Rural Development(NABARD) chairman is

A. 3 years B. 5 years C. 7 years D. 2 years

Answer: Option A
Explanation: The chairman of NABARD is appointed by GOI .The term of NABARD chairman is for three years.
2. Where is the headquarter of Bureau of International Settlemen (BIS)?

A. London, England B. Mumbai, India C. Basel, Switzwerland D. New York, USA

Answer: Option C
Explanation: The head office is in Basel, Switzerland and there are two representative offices: in the Hong Kong Special Administrative Region of the People's Republic of China and in Mexico City.
3. Dr. Harsh Kumar Bhanwala is the Chairman of which Financial/Banking institution in India?

A. SEBI B. NABARD C. PFRDA D. IRDA

Answer: Option B
Explanation: Dr. Harsh Kumar Bhanwala is the Chairman of National Bank for Agriculture and Rural Development (NABARD) since December 18, 2013.
4. How many Member countries are there in Bureau of International Settlemen (BIS)?

A. 60 B. 100 C. 80 D. 120

Answer: Option A
Explanation: In total BIS has 60 member countries from all over the world and covers approx 95% of the world GDP.
5. What is the minimum transaction value under Real Time Gross Settlement(RTGS)?

A. 1 lakh B. 2 lakh C. 3 lakh D. No minimum transaction value.

Answer: Option B
Explanation: RTGS is a centralized payment system through which inter bank payment instructions are processed and settled, on GROSS basis, in REAL TIME. Which simply means, that the transactions are settled as they happen. Minimum amount is Rs. 2 lacs and there is no limit to maximum amount.

1. The chairman of the Securities And Exchange Board Of India(SEBI) is appointed by

A. Government of India B. RBI C. President of India D. None is Correct

Answer: Option A
Explanation: chairman of the Securities And Exchange Board Of India(SEBI) is appointed by Finance Minstry, Government of India.
2. What is 'C' stand for in the CAMEL which is term often seen in news?

A. Capital B. Cost C. Core D. Charge

Answer: Option A
Explanation: The CAMELS rating system is a recognized international rating system that bank supervisory authorities use in order to rate financial institutions according to six factors represented by the acronym "CAMELS." Supervisory authorities assign each bank a score on a scale, and a rating of one is considered the best and the rating of five is considered the worst for each factor. CAMEL Stands for c = capital adequacy, A= asset quality, M=management, E= earning, L= liquidity, S= system and control.
3. Which of the following Banking/Fnancial institution in India issues Treasury Bills or T-Bills?

A. SBI B. IRDA C. RBI D. SEBI

Answer: Option C
Explanation: T-Bill is issued by RBI on behalf of Union Government.
4. What is the minimum transaction value under National Electronic Funds Transfer(NEFT)?

A. 1 lakh B. 2 lakh C. 3 lakh D. No minimum transaction value.

Answer: Option D
Explanation: There is no limit – either minimum or maximum – on the amount of funds that could be transferred using NEFT. However, maximum amount per transaction is limited to Rs.50,000/- for cash-based remittances within India and also for remittances to Nepal under the Indo-Nepal Remittance Facility Scheme.
5. When one bank borrow money from another bank(for one day only), then it is called

A. Call Money B. Recall Money C. Helicopter Money D. Easy Money

Answer: Option A
Explanation: Call Money, Notice Money and Term Money markets are sub-markets of the Indian Money Market. These refer to the markets for very short term funds. Call Money refers to the borrowing or lending of funds for 1 day. Notice Money refers to the borrowing and lending of funds for 2-14 days.

1. What is the maximum amount of transaction per account per day in AADHAR Enabled Payment System(AEPS)?

A. Rs. 25000 B. Rs. 50000 C. Rs. 1 lakh D. Rs. 2 lakh

Answer: Option B
Explanation: The maximum amount of transaction per account per day is Rs.50,000. These transactions are normally conducted by Business Correspondents (BCs) service centres.
2. What is 'T' stand for in the MTSS which is a term often seen in the banking sector news?

A. Transfer B. Transaction C. Tag D. Total

Answer: Option A
Explanation: Money Transfer Service Scheme(MTSS) is a system of money transfer for transferring personal remittances from abroad to beneficiaries in India. Through this, only inward remittances into India are permissible. No outward remittance allowed. A maximum of Rs.50,000 can be remitted inwards as per the money value. And a maximum of 30 transactions per the calendar year.
3. Which type of ATMs is set up, owned and operated by non-bank entities, which have been incorporated under Companies Act 1956, and after obtaining RBI’s approval?

A. Off-site ATM B. Onsite ATM C. Brown Label D. White Label

Answer: Option D
Explanation: Automated Teller Machines (ATMs) set up, owned and operated by non-bank entities are called "White Label ATMs" (WLAs). Non-bank entities that set up, own and operate ATMs are called "White Label ATM Operators" (WLAO). The WLAO's role is confined to an acquisition of transactions of all banks' customers by establishing technical connectivity with the existing authorised, shared ATM Network Operators / Card Payment Network Operators.
4. What is the minimum validity period of 'Commercial Paper' in India?

A. 7 days B. 14 days C. 21 days D. 1 month

Answer: Option A
Explanation: According to RBI, CP can be issued for maturities between a minimum of 7 days and a maximum of up to one year from the date of issue. However, the maturity date of the CP should not go beyond the date up to which the credit rating of the issuer is valid.
5. P- Note (Participatory Note) in India are issued on the recommendation of

A. RBI B. SEBI C. Finance Ministry D. EPFO

Answer: Option B