Banking Awareness Quiz

Banking Awareness Quiz

1) What is the name of the new payment interface that was launched as its most ambitious project by the National Payments Corporation of India Ltd (NPCI)  and is expected to bring about a significant shift in the way mobile banking transactions are conducted?

Unified Payments Interface (UPI).Unified Payments Interface (UPI) is the name of the revolutionary payments interface that was made live by the National Payments Corp. of India Ltd (NPCI) from 11 April 2016.

2) What important step pertaining Category-I banks so as to improve the ease of doing business in India was taken by the Union Govt. ?

It empowered authorised Category-I banks to approve establishment of branch office by foreign entities in India in most sectors

3) Which country became the 189th and the latest member of the IMF and the World Bank?

Nauru..Nauru applied for membership in the Washington-based IMF and World Bank in April 2014, after joining the United Nations in 1996 as the world’s smallest independent republic.

4) The New Development Bank (NDB) of BRICS countries approved its first package of loans worth $811 million for four renewable energy projects in four member countries – Brazil, China, South Africa and India. Out of this $250 million was handed to India. Which Indian bank became the first bank in India to receive this loan?

Canara Bank.The New Development Bank (NDB) of BRICS countries handed out $250 million to India’s Canara Bank for renewable energy projects as part of its first set of loans amounting to $811 million.

5) What important monetary measure was announced in first bi-monthly monetary policy review meet of the RBI’s for 2016-17 that was held on 5 April 2016?

Repo Rate was reduced by 25 basis points.

A reduction in all-important Repo Rate had been widely expected, although the quantum of his reduction had had mixed backers. The rate cut also suggested that the RBI has taken note of the central government’s commitment to fiscal discipline, freeing it up to infuse more liquidity into the system.

6) Which entity became the latest entity to enter India’s mutual fund business as during April 2016 it filed papers with the SEBI for launching at least four mutual fund schemes?

Mahindra Asset Management Company (Mahindra AMC).

7) Which domestic bank from April 2016 started first-of-its-kind Aadhaar-based ATM usage facility wherein a customer can transact using his biometric details instead of the PIN?

DCB Bank.The user can key-in the 12-digit Aadhaar number or swipe the card at an automated teller machine (ATM) to start a transaction, but at the stage of confirming the identity, it requires biometric details rather than the PIN.

8) By starting its operations , which stock exchange became the newest stock exchange in Asia?

Yangon Stock Exchange (Myanmar).

9) Prime Minister Narendra Modi  launched an online portal for trading in agriculture produce that is expected to liberate farmers from the clutches of middle-men and realise fair market value for their yields. What is the name of this portal?

National Agriculture Market portal (e-NAM).The idea behind the online portal (e-NAM) is to provide transparency in pricing by removing the information asymmetry between sellers and buyers and enable farmers to benefit from price discovery.

10) Which state  became the first in India to have passed a landmark legislation providing statutory backing to land records, effectively guaranteeing land and property ownership?

Rajasthan. The Vasundhara Raje-led Rajasthan Govt created history of sorts as it passed the Rajasthan Urban Land (Certification Of Titles) Bill, 2016 in the state assembly through a voice vote on 4 April 2016. With this Rajasthan became the first state in India to pass a landmark land titling law.



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