Banking Awareness Practice Set
1. What is the minimum tenure of gold deposits under Gold Monetization Scheme, 2015?
Answer : One year
2. All Scheduled Commercial Banks excluding ________ are eligible to implement under Gold Monetization Scheme, 2015?
Answer : Regional Rural Banks
3. BSBDA is a simple, basic account for routine banking transactions without the need of minimum balance requirement. BSBDA stands for
Answer : Basic Savings Bank Deposit Account
4. Which rate has replaced the erstwhile Benchmark Prime Lending Rate system with effect from July 1, 2010?
Answer : Base Rate system
5. Banks cannot accept interest free deposits other than in
Answer : Current Account
6. Under which act NPCI was incorporated as a Section 8?
Answer : Companies Act 2013
7. Where is the head office of Bank for International Settlements (BIS)?
Answer : Basel, Switzerland
8. The Bank for International Settlements (BIS) is the world’s oldest international financial organisation. BIS was established on
Answer : 17th May 1930
9. In Which years NPCI was incorporated
Answer : December 2008
10. NPCI is an umbrella organization for all retail payments system in India. It was set up with the guidance and support of the Reserve Bank of India (RBI) and Indian Banks’ Association (IBA). What does NPCI stands for
Answer : National Payments Corporation of India
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