Banking Awareness Quiz|6th March 2019

Banking Awareness Quiz for LIC AAO/SBI PO MAINS MAINS

Improve your Banking Awareness with Banking quiz. Banking Quiz to help you improve your score for exams like Bank, SSC, Railway and other Government exams.

Q1. Name the scheme which was announced in August 2014 to ensure comprehensive financial inclusion of all the households in the country by providing universal access to banking facilities with at least one basic bank account to every household, financial literacy, access to credit, insurance and pension facility?

(a) Pradhan Mantri Vaya Vandana Yojana

(b) Pradhan Mantri Mudra Yojana

(c) Pradhan Mantri Jan Dhan Yojana

(d) Pradhan Mantri Suraksha Bima Yojana

(e) Pradhan Mantri Jeevan Jyoti Bima Yojana

Q2. PMJDY offers unbanked persons easy access to banking services and awareness about financial products through financial literacy programmes. In addition, they receive a RuPay debit card, with inbuilt accident insurance cover of _____________, and access to overdraft facility upon satisfactory operation of account or credit history of ______________ months as on March 2018.

(a) 1 lakh, 6 months

(b) 7 lakh, 3 months

(c) 5 lakh, 4 months

(d) 3 lakh, 10 months

(e) 2 lakh, 5 months

Q3. In which year, all eligible account holders can access their bank accounts personal accident insurance cover under PMSBY, life insurance cover under PMJJBY, and guaranteed minimum pension to subscribers under APY.

(a) 9th May 2016

(b) 9th May 2014

(c) 9th May 2017

(d) 9th May 2015

(e) 9th May 2013

Q4. Which scheme is available to people in the age group of 18 to 50 years having a bank account who give their consent to join/enable auto-debit?

(a) PMVVY

(b) PMJJBY

(c) PMSBY

(d) APY

(e) PMMY

Q5. The risk coverage under the PMSBY scheme is __________ lakh for accidental death and full disability and Rs. 1 lakh for partial disability.

(a) Rs. 3 lakh

(b) Rs. 5 lakh

(c) Rs. 4 lakh

(d) Rs. 1 lakh

(e) Rs. 2 lakh

Q6. National Institute of Bank Management (NIBM) was established in _________________ by the Reserve Bank of India, in consultation with the Government of India, as an autonomous apex institution for research, training, education and consultancy in bank management.

(a) 1979

(b) 1949

(c) 1969

(d) 1959

(e) 1989

Q7. The Securities and Exchange Board of India (SEBI) is the regulator for the securities market in India. It was established on-

(a) 12th April 1992

(b) 12th April 1988

(c) 12th April 1990

(d) 12th April 1982

(e) 12th April 1999

Q8. Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL) was established by Reserve Bank of India (RBI) as its wholly owned subsidiary on-

(a) 03rd February 1991

(b) 03rd February 1992

(c) 03rd February 1997

(d) 03rd February 1999

(e) 03rd February 1995

Q9. In which year, CIBIL Limited (formerly Credit Information Bureau (India) Limited) was incorporated based on recommendations made by the RBI Siddiqui Committee?

(a) 2002

(b) 2000

(c) 2001

(d) 2004

(e) 2003

Q10. The Institute for Development & Research in Banking Technology (IBDRT) is a unique institution exclusively focused on Banking Technology. Established by the Reserve Bank of India in-

(a) 2001

(b) 1999

(c) 1992

(d) 1996

(e) 1989

Solutions

Ans.1.(c)

Exp. Hon’ble Prime Minister announced Pradhan Mantri Jan Dhan Yojana as the National Mission on Financial Inclusion in his Independence Day address on 15th August 2014, to ensure comprehensive financial inclusion of all the households in the country by providing universal access to banking facilities with at least one basic bank account to every household, financial literacy, access to credit, insurance and pension facility. 

Ans.2.(a)

Exp.PMJDY offers unbanked persons easy access to banking services and awareness about financial products through financial literacy programmes. In addition, they receive a RuPay debit card, with inbuilt accident insurance cover of Rs. 1 lakh, and access to overdraft facility upon satisfactory operation of account or credit history of six months as on March 2018. After 28th August 2018, under the expanded coverage from “every household to every adult”, accidental insurance cover for new RuPay card holders to be raised from Rs 1 lakh to Rs 2 lakh to new PMJDY accounts.

Ans.3.(d)

Exp. Prime Minister’s Social Security Schemes, launched by the Hon’ble Prime Minister Narendra Modi on 9th May 2015, all eligible account holders can access through their bank accounts personal accident insurance cover under Pradhan Mantri Suraksha Bima Yojana, life insurance cover under Pradhan Mantri Jeevan Jyoti Bima Yojana, and guaranteed minimum pension to subscribers under Atal Pension Yojana.

Ans.4.(b)

Exp. The PMJJBY is available to people in the age group of 18 to 50 years having a bank account who give their consent to join /enable auto-debit. Aadhar is the primary KYC for the bank account.

Ans.5.(e)

Exp. Pradhan Mantri Suraksha Bima Yojana (PMSBY) is available to people in the age group 18 to 70 years with a bank account who give their consent to join/ enable auto-debit on or before 31st May for the coverage period 1st June to 31st May on an annual renewal basis. Aadhar would be the primary KYC for the bank account. The risk coverage under the scheme is Rs. 2 lakh for accidental death and full disability and Rs. 1 lakh for partial disability.

Ans.5.(c)

Exp. National Institute of Bank Management (NIBM) was established in 1969 by the Reserve Bank of India, in consultation with the Government of India, as an autonomous apex institution for research, training, education and consultancy in bank management. Its mandate is to play a proactive role of “think-tank” of the banking system.

Ans.7.(a)

Exp. SEBI was established on 12th April 1992.

Ans.8.(e)

Exp. Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL) was established by Reserve Bank of India (RBI) as its wholly owned subsidiary on 3rd February 1995 with a view to augmenting the production of bank notes in India to enable the RBI to bridge the gap between the supply and demand for bank notes in the country.

Ans.9.(b)

Exp. TransUnion CIBIL Limited (formerly Credit Information Bureau (India) Limited) was incorporated based on recommendations made by the RBI Siddiqui Committee.

Ans.10.(d)

Exp. The Institute for Development & Research in Banking Technology is a unique institution exclusively focused on Banking Technology. Established by the Reserve Bank of India in 1996, the Institution works at the intersection of Banking and Technology.

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