1. CTS-2010 is related to which of the following banking instrument?

A. ATMs B. Credit Cards C. Cheques D. Drafts

2. If any cheque issue by a holder to the payee for the upcoming withdrawn date, then that type of cheques are called _______.

A. Post Dated Cheques B. Anti Dated Cheques C. Stale Cheque D. Order Cheque

3. What percentage of FDI is allowed in Insurance Sector in India?

A. 26% B. 94% C. 51% D. 49%

4. What is ‘first I’ stand for in the FII ?

A. Index B. Institutional C. Investors D. Indirect

5. How many member nations are there in the Bank for International Settlements (BIS)?

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

Answers and Explanations
1. Answer - Option C
Explanation -
Cheques. CTS-2010 is a standard benchmark recommended by RBI for the standardization of: cheque forms (leaves) in terms of size, MICR band etc.
2. Answer - Option A
Explanation -
Post Dated Cheques. In banking, post-dated cheque is a cheque written by the drawer (payer) for a date in the future.
3. Answer - Option D
Explanation -
49%. Earlier, it was 26%.
4. Answer - Option B
Explanation -
Institutional. Foreign Institutional Investors (FIIs) are persons or companies incorporated outside India(companies can be Mutual funds, Pension funds, investment companies, foreign banks etc.).
5. Answer - Option A
Explanation -
In total BIS has 60 member countries from all over the world and covers approx 95% of the world GDP.

1. When was the first Basel norm introduced Basel Committee on Banking Supervision (BCBS)?

A. 1988 B. 1991 C. 2000 D. 2005

2. Which of the following is the oldest stock exchange of Asia?

A. NSE B. Hang Seng Index C. Nikkei 225 D. BSE

3. What is ‘B’ stand for in the FIPB which is a term related to FDI?

A. Bank B. Bureau C. Board D. Base

4. What is the ceiling limit of FII of paid-up capital of an Indian company(excluding PSU Banks)?

A. 24% B. 20% C. 49% D. 30%

5. Nikkei 225 is a famous stock exchange of which of the following country?

A. South Korea B. Japan C. Hong Kong D. China

Answers and Explanations
1. Answer - Option A
Explanation -
In 1988,The Basel Committee on Banking Supervision (BCBS) introduced capital measurement system called Basel capital accord, also called as Basel 1.
2. Answer - Option D
Explanation -
BSE is India’s and Asia’s oldest stock exchange, established in 1878.
3. Answer - Option C
Explanation -
The Foreign Investment Promotion Board (FIPB) is a national agency of Government of India, with the remit to consider and recommend foreign direct investment (FDI) which does not come under the automatic route.
4. Answer - Option A
Explanation -
There is a ceiling limit of 24% FII of paid-up capital of an Indian company, and 20% in case of PSU banks.
5. Answer - Option B
Explanation -
Nikkei 225 is from Japan.

1. The Reserve Bank of India has imposed a collective penalty of Rs 12 crore on 8 public sector banks. Bank of Baroda, Bank of India, Indian Overseas Bank and United Bank of India have been imposed with a penalty of?

A. Rs 5 crore B. Rs 50 crore C. Rs 20 crore D. Rs 1.5 crore

2. The Reserve Bank of India will make available the NEFT system on a 24×7 basis from December 2019 as per the Payment System Vision 2021 document. What is the full form of NEFT?

A. National Electronic Funds Transaction B. National Electronic Funds Treaty C. National Electronic Funds Transfer D. National Electronic Financial Transfer

3. Which card has announced the launch of Identity Check Express, a next-generation, mobile-first authentication solution that aims to redefine the e-commerce journey for Indian consumers?

A. RuPay B. Mastercard C. Visa D. Maestro

4. In its 3rd Bi-monthly Monetary Policy Committee meeting, RBI has reduced the real GDP growth for 2019-20 from 7% to-?

A. 6.9% B. 6.7% C. 8.6% D. 9.8%

5. United Bank of India is an Indian government-owned bank headquartered in-?

A. Chennai B. Kolkata C. Mumbai D. New Delhi

Answers and Explanations
1. Answer - Option D
Explanation -
Allahabad Bank and Bank of Maharashtra have been imposed a fine of ₹2 crore each, Bank of Baroda, Bank of India, Indian Overseas Bank and United Bank of India have been slapped with fines of ₹1.5 crore each, while Oriental Bank of Commerce has been imposed with a penalty of ₹1 crore.
2. Answer - Option C
Explanation -
National Electronic Funds Transfer
3. Answer - Option B
Explanation -
Mastercard announced the launch of Identity Check Express, a next-generation, mobile-first authentication solution that aims to redefine the e-commerce journey for millions of Indian consumers. The solution, will help eliminate unnecessary friction and enhance the security of online transactions.
4. Answer - Option A
5. Answer - Option B
Explanation -
United Bank of India (UBI) is an Indian government-owned bank headquartered in Kolkata, India. Presently the bank has a three-tier organisational setup consisting of its head office in Kolkata, 36 regional offices and 2054 branches spread all over India.