1. Which of the following is the name of IDBI's Mobile App?

A. Maha Mobile B. Star Connect Mobile Banking C. Go Mobile D. PatMate

Answer: Option C
Explanation: Go Mobile was launched by IDBI Bank.
2. What is 'A' stands for in LAF(related to RBI)?

A. Asset B. Adjustment C. Audit D. Adequacy

Answer: Option B
Explanation: Liquidity Adjustment Facility (LAF)
3. State Bank of India was Set up on the recommendations of

A. A C Shah Committee B. Gorwala committee C. Abid Hussain Committee D. B Sivaraman Committee

Answer: Option B
Explanation: SBI was established on 1st July, 1955 under the recommendations of “Gorwala committee".
4. In which type of Banking, all the operations are performed from a single branch?

A. Unit Banking B. Islamic Banking C. Chain Banking D. Para Banking

Answer: Option A
Explanation: USA is where such type of banking was first introduced. In such a type of banking all the operations are performed from a single branch. A customer having an account in a specified branch has to undergo all banking activities through that branch.
5. Which of the following Banks in India represents 'Unit Banking'?

A. All Small Finance Banks B. All Payment Banks C. Regional Rural Banks D. None of the Above

Answer: Option C
Explanation: Regional Rural Banks and Local Area Banks.

1. In BHIM App, what is the limit of total transaction per day?

A. 10,000 INR B. 20,000 INR C. 30,000 INR D. 50,000 INR

Answer: Option B
Explanation: For now, the maximum limit for every transaction has been set at 10,000 INR and a total transaction of 20,000 INR per day. The limits are expected to change in future.
2. Nidhi Company is also known as

A. Equipment Leasing Company (EL) B. Non-Banking Finance Company(NBFC) C. Residuary non banking companies(RNBC) D. Miscellaneous Non- Banking Company (MNBC)

Answer: Option C
Explanation: Any company which is notified by the central Government as a Nidhi Company under section 620A of the companies Act, 1956. It is a NBFC(and MBFC in particular) doing the business of lending and borrowing with its members or shareholders.
3. The NPCI (National Payment Corporation of India) has developed the BHIM App in association with which of the following?

A. Paytm B. Juspay C. SBI D. None of the Above

Answer: Option B
Explanation: This app has been developed by the NPCI (National Payment Corporation of India) in association with Juspay. This app is now readily available on play store which is the android platform the and same for the iOS platform is expected to be launched soon.
4. What is the share of Central Government in Regional Rural Banks(RRBs)?

A. 50 % B. 40 % C. 45 % D. 60%

Answer: Option A
Explanation: Every RRB is owned by 3 entities with their respective shares as follows: Central Government -50% State government-15% Sponsor bank -35%
5. Every bank Maintain a certain % of their total deposits with RBI in the form of Cash and

A. Gold B. Government Securities C. Bonds D. Net demand & Time liabilities

Answer: Option D
Explanation: Every bank Maintains a certain % of their total deposits with RBI in the form of Cash and Net demand & Time liabilities. The current CRR is 4%. Every bank has to pay the amount to RBI every 15 Days.

1. Which of the following monetary is also termed as 'Discount Rate'?

A. Bank Rate B. MSF (Marginal Standing Facility) C. Repo Rate D. Reverse Repo Rate

Answer: Option A
Explanation: Bank rate is also termed as “Discount Rate” The rate through which RBI charges certain % for providing money to other banks without any security for Long period of time for 90 Days & Current Bank Rate is 6.75%.
2. Which of the following is not an Indirect Instrument of Monetary Policy of RBI?

A. Bank Rate B. Repo Rate C. Statutory Liquidity Ratio (SLR) D. MSF (Marginal Standing Facility)

Answer: Option C
Explanation: Statutory Liquidity Ratio (SLR) and Cash Reserve Ratio are Direct Instruments of Monetary Policy of RBI
3. What is 'P' stands for in 'FPO'(related to shares)?

A. Payment B. Public C. Purchase D. Post

Answer: Option B
Explanation: A follow-on public offer (FPO) is an issuing of shares to investors by a public company that is already listed on an exchange. An FPO is essentially a stock issue of supplementary shares made by a company that is already publicly listed and has gone through the IPO process.
4. BHIM app is based on which of the following technologies?

A. EMV B. Point of Sales(PoS) C. Unified Payment Interface(UPI) D. None of the Above

Answer: Option C
Explanation: Bhim app is an application for payment through smartphones which is based on the technology of UPI (Unified Payment Interface). After selecting the account the user has to enter a 4 digit code (UPI PIN) to make transactions through the app.
5. For availing Differential rate of Interest, a rural family income must not exceed

A. Rs. 18000 B. Rs. 20000 C. Rs. 50000 D. Rs. 30000

Answer: Option A
Explanation: Individuals whose family income does not exceed Rs. 18000 per annum in Rural areas and Rs. 24000 per annum in Urban and Semi Urban Areas.