Banking Awareness Based on Remittances | Daily Banking Awareness Quiz

Banking Awareness Based on Remittances  | Daily Banking Awareness Quiz 

Banking Awareness is the most important subject in the mains examinations of bank and insurance exams.  Remittances Quiz is a very vital topic of the Banking awareness section. Remittances Quiz is a very scoring topic. We are providing  Remittances quiz based on the banking awareness syllabus. This  Remittances Quiz provided on our website can be helpful for different exams such as IBPS PO, SBI PO, RRB PO, IBPS clerk, SBI clerk. Remittances Quiz on our website comes with analysis and explanation highlighting important areas of Banking awareness.

Q1. Which out of the following is most popular channel of foreign inward remittances to India?
(a) Cheques and Drafts
(b) Direct transfers
(c) Rupee Drawing Arrangement (RDA)
(d) SWIFT
(e) None of these

Q2. What is the full form of LRS?
(a) Local Remittance Scheme
(b) Long distance Remittance Scheme
(c) Loan Remittance Scheme
(d) Liberalised Remittance Scheme
(e) None of these

Q3. How many remittances can be received by a single individual beneficiary under the scheme during a year?
(a) 30
(b) 35
(c) 40
(d) 45
(e) None of these

Q4. What is Money Transfer Service Scheme (MTSS)?
(a) transferring governmental remittances from India to beneficiaries in abroad
(b) transferring governmental remittances from abroad to beneficiaries in India
(c) transferring personal remittances from India to beneficiaries in Abroad
(d) transferring personal remittances from abroad to beneficiaries in India
(e) None of these

Q5. Liberalised Remittance Scheme (LRS) established by
(a) GoI
(b) RBI
(c) SEBI
(d) Foreign Exchange
(e) None of these

Q6. Which is mandatory for all transactions under Liberalised Remittance Scheme?
(a) IFSC Number
(b) Adhar card
(c) Swift Code
(d) PAN Card
(e) None of these

Q7. Liberalised Remittance Scheme of the Reserve Bank of India was introduced in
(a) 2002
(b) 2004
(c) 2006
(d) 2008
(e) None of these

Q8. Under IMPS, a given amount can also be remitted through ABR Service. What does ABRS stand for?
(a) Aadhaar Based Remittance Service
(b) Aadhaar Based Resource Scheme
(c) Aadhaar Based Refinance Service
(d) Aadhaar based Redevelopment Scheme
(e) None of these

Q9. How many remittances can be received by a single individual beneficiary under the scheme during a year?
(a) 20
(b) 25
(c) 30
(d) 35
(e) None of these

Q10. What is the maximum limit on cash payment that is to be made to the beneficiary under MTSS in India?
(a) Rs. 20,000
(b) Rs. 25,000
(c) Rs. 50,000
(d) Rs. 75,000
(e) None of these

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