1. Which is the only country to which remittances can be sent using NEFT?

A. Nepal B. Canada C. United States D. Sri Lanka E. Mauritius

2. Which among the following is true regarding the Bankers’ Cheque?

A. Bankers’ Cheques are issued by a bank to the individual. B. The fund is withdrawn directly from the account of the bank. C. The fund is payable within the same city in which it has been issued. D. All (A), (B), (C) E. Only (A) and (B)

3. To become BBPOUs, Banks and non-bank entities are mandatorily required to apply for approval / authorisation to Reserve Bank of India under ________

A. Payment and Settlement Systems (PSS) Act 2007. B. Foreign Exchange Management Act, 1999 C. Banking Regulation Act, 1949 D. SARFAESI Act, 2002 E. None of these

4. Name the First Bank to introduce Mutual Fund.

A. ICICI Bank B. SBI C. Central Bank of India D. Bank of Baroda E. None of these

5. NEER and REER are the terms associated with which of the following?

A. Treasury Bill Market B. Basel norms C. Foreign Exchange Market D. Inter-Bank Call Money Market E. None of these

Answers and Explanations
1. Answer - Option A
Explanation -
The money can be transferred using NEFT to Nepal under the Indo-Nepal Remittance Facility Scheme. It is not possible to send money abroad to any other country using NEFT. The maximum amount per transaction is limited to ₹ 50,000/- for cash-based remittances to Nepal under the Indo-Nepal Remittance Facility Scheme.
2. Answer - Option D
Explanation -
Bankers’ Cheque is issued by a bank to the individual for payments within the same city in which it has been issued. The fund is withdrawn directly from the accounts of the bank. The validity of this instrument is three months from the date of issue.
3. Answer - Option A
Explanation -
To become BBPOUs, Banks and non-bank entities are mandatorily required to apply for approval / authorisation to Reserve Bank of India under Payment and Settlement Systems (PSS) Act 2007. Bharat Bill Payment Operating Units (BBPOUs) will be the authorised operational units.
4. Answer - Option B
Explanation -
The mutual fund industry in India originally began in 1963 with the Unit Trust of India (UTI) as a Government of India and the Reserve Bank of India initiative. Launched in 1987, SBI Mutual Fund became the first non-UTI mutual fund in India.
5. Answer - Option C
Explanation -
Nominal Effective Exchange Rate (NEER) is a multilateral rate representing the price of a representative basket of foreign currencies, each weighted by its importance to the domestic country in international trade (the average of export and import shares is taken as an indicator of this). The Real Effective Exchange Rate (REER) is calculated as the weighted average of the real exchange rates of all its trade partners, the weights being the shares of the respective countries in its foreign trade. It is interpreted as the number of domestic goods required to purchase one unit of a given basket of foreign goods.

1. Davis cup is related with which sport?

A. Badminton B. Tennis C. Football D. Basketball E. Hockey

2. Khoria Dance is a popular folk dance form of which state?

A. Haryana B. Assam C. Goa D. Rajasthan E. Kerala

3. Valley of flowers is paradise on earth and is situated in

A. Uttarakhand B. Jammu and Kashmir C. New Delhi D. Haryana E. Uttar Pradesh

4. Tiger Woods is a well known name related to which of the following sports?

A. Polo B. Basketball C. Football D. Golf E. Cricket

5. Kaiga atomic power plant is located in which state of India?

A. Rajasthan B. Karnataka C. Madhya Pradesh D. Kerala E. Uttarakhand

Answers and Explanations
1. Answer - Option B
Explanation -
The Davis Cup is the premier international team event in men’s tennis. It is run by the International Tennis Federation (ITF).
2. Answer - Option A
Explanation -
Khoria Dance, a variety of Jhumar Dance, is popular in the central areas of Haryana.
3. Answer - Option A
Explanation -
Sprawled across 87 sq. km in Chamoli District, Uttarakhand, Valley of flowers is paradise on earth and is situated at the conversion point of Eastern and Western Himalayas and Zanskar ranges.
4. Answer - Option D
Explanation -
Eldrick Tont “Tiger” Woods is an American professional golfer who is generally considered one of the greatest golfers of all time. Following an outstanding junior, college, and amateur golfing career, Woods turned professional in 1996 at the age of 20.
5. Answer - Option B
Explanation -
Kaiga Generating Station is a nuclear power generating station situated at Kaiga, near the river Kali, in Uttar Kannada district of Karnataka, India. The plant has been in operation since March 2000 and is operated by the Nuclear Power Corporation of India.

1. RBI issued short-term debt management instruments known as CMBs. What does ‘B’ stand for in the same?

A. Bills B. Bonds C. Banks D. Branch E. Board

2. Which of the following auctions the G-sec?

A. Central Government B. Finance Ministry C. RBI D. SEBI E. None of the above

3. ________ is an account maintained in foreign currency with an Authorised Dealer Category – I bank.

A. FCNR B. Current Account C. SB Account D. EEFC E. None of these

4. Which of the following allowed Non-Resident Indians (NRI) to subscribe to NPS?

A. SEBI B. EXIM Bank C. GOI D. RBI E. None of these

5. ‘Dachigam National Park’ is located in which state of India?

A. Karnataka B. Himachal Pradesh C. Meghalaya D. Jammu and Kashmir E. Tripura

Answers and Explanations
1. Answer - Option A
Explanation -
CMBs stand for Cash Management Bills. These are short-term instruments issued by the RBI on behalf of the central government to meet the temporary mismatches in the cash flow of the Government of India. These are issued for maturities less than 91 days.
2. Answer - Option C
Explanation -
G-Sec is the Government Security auctioned by the RBI on the behalf of the government of India. These are tradable instruments that represent the government’s debt obligation and offer assured returns. Examples of G-Sec are Treasury Bills (T-bills), Cash Management Bills (CMBs), Dated G-Secs, and State Development Loans (SDLs).
3. Answer - Option D
Explanation -
Exchange Earners’ Foreign Currency Account (EEFC) is an account maintained in foreign currency with an Authorised Dealer Category – I bank.
4. Answer - Option D
Explanation -
RBI allowed Non-Resident Indians (NRI) to subscribe to NPS
5. Answer - Option D
Explanation -
Dachigam national park is located in Jammu & Kashmir state of India.