Banking Awareness Practice Set
1. The Reserve Bank of India has granted “in-principle” approval to the following ______________ applicants to set up payments banks under the Guidelines for Licensing of Payments Banks issued on November 27, 2014.
Answer : 11
2. The promoter’s minimum initial contribution to the paid-up equity capital of such payments bank shall at least be ___________ for the first five years from the commencement of its business.
Answer : 40%
3. The foreign shareholding in the payments bank would be as per the FDI policy for private sector banks as amended from time to time. FDI stands for
Answer : Foreign Direct Investment
4. Scheduled commercial bank can take equity stake in a payments bank to the extent permitted under Section 19 (2) of the
Answer : Banking Regulation Act, 1949
5. The payments bank should have a leverage ratio of not less than ____________ that is its outside liabilities should not exceed 33.33 times its net worth (paid-up capital and reserves).
Answer : 3 percent
6. What is the interest rate of KVP as on 01st January 2018?
Answer : 7.3% compounded annually
7. Sukanya Samriddhi Accounts can be opened up to age of _______ years only from the date of birth.
Answer : 10 years
8. If minimum Rs __________is not deposited in a financial year, account will become discontinued and can be revived with a penalty of Rs 50/- per year with minimum amount required for deposit for that year in Sukanya Samriddhi Accounts?
Answer : Rs 1000/-
9. Sukanya Samriddhi Accounts can be closed after completion of
Answer : 21 years
10. What is the interest rate of Sukanya Samriddhi Accounts as on 01st January 2018?
Answer : 8.1% Per Annum
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