1st+2nd Week Current Static Banking Flashcards
- What is the Tagline of the Bank of India?
1) Always You First
2) Relationship Beyond Banking
3) We value you
4) We Understand Your World
5) Support All the Way
Answer- 2) Relationship Beyond Banking
Explanation:
About Bank of India (BoI):
MD & CEO – Rajneesh Karnatak
Headquarters – Mumbai, Maharashtra
Tagline – Relationship Beyond Banking
- Which among the following are the first payment banks of India?
1) Paytm Payments Bank
2) Airtel Payments Bank
3) Fino Payments Bank
4) India Post Payment Bank
5) Jio Payments Bank
Answer- 2) Airtel Payments Bank
Explanation:
Airtel Payments Bank Limited is India’s first payment bank,with its license issued on April 11, 2016
and operational since January 2017.
• Payment banks are a new type of financial institution in India. They provide basic banking
services to people who are currently unbanked or underbanked. Payment banks cannot offer
loans or credit cards.
• They can only offer savings accounts, current accounts, and mobile banking services. The
introduction of payment banks is a significant development in the Indian financial sector.
- Magnetic Ink Character Recognition (MICR) is a _______ digit unique code used to identify the
particular branch of a particular bank.
1) 8
2) 9
3) 11
4) 12
5) 10
Answer- 2) 9
Explanation:
Magnetic Ink Character Recognition (MICR) is a unique code used to identify the particular branch of a
particular bank. It is used mainly by the banking industry to ease the processing and clearance of
cheques and other documents. It is a 9-digit code.
i. The first three digits represent the city code of the bank branch – generally the pin code initials, The
next three digits represent the bank code, and The last three digits represent the bank branch.
- Which of the following is ‘Not’ a type of prospectus according to the companies act 2013?
1) Abridged Prospectus
2) Deemed Prospectus
3) Red Herring Prospectus
4) Shelf Prospectus
5) Statutory Prospectus
Answer- 5) Statutory Prospectus
Explanation:
The prospectus is a legal document for market participants and investors to pursue, detailing the
features, prospects, and promise of a financial product. It is mandated by the law to be supplied to
prospective customers.
i. According to the companies act 2013, there are four types of prospectus, Abridged Prospectus,
Deemed Prospectus, Red Herring Prospectus, and Shelf Prospectus.
- What is the share of sponsor banks in the regional rural banks?
1) 15%
2) 35%
3) 20%
4) 50%
5) 25%
Answer- 2) 35%
Explanation:
National Bank for Agriculture & Rural Development (NABARD) is an apex Development Bank by the
Government of India. In RRBs, 15% share is held by the State Government, 50% by the Central
Government, and 35% by the Sponsor Bank.
- Which of the following Small Finance Bank (SFB) was the 1st Small Finance Bank in India?
1) Jana SFB
2) Utkarsh SFB
3) Capital SFB
4) Ujjivan SFB
5) AU SFB
Answer- 3) Capital SFB
Explanation:
Capital Small Finance Bank (erstwhile Capital Local Area Bank) is India’s first small finance bank
founded in April 2016 as a microfinance lender, with its headquarters in Jalandhar, India.
- Scheduled Commercial Banks are included under __________ (schedule) of the Reserve Bank of
India Act, 1934.
1) 5th
2) 4th
3) 2nd
4) 1st
5) 3rd
Answer- 3) 2nd
Explanation:
Scheduled Commercial Banks and Scheduled Co-operative Banks which are included in the Second Schedule to the Reserve Bank of India Act, 1934.
- “Yogakshemam Vahamyaham” is the tagline of ______________ (organization).
1) Reserve Bank of India
2) Securities and Exchange Board of India
3) Life Insurance Corporation of India
4) Insurance Regulatory and Development Authority of India
5) National Bank for Agriculture and Rural Development
Answer- 3) Life Insurance Corporation of India
Explanation:
“Yogakshemam Vahamyaham” is the tagline of Life Insurance Corporation of India (LIC). “Your
welfare is our responsibility” is the English translation of the tagline.
- In which year India’s 1st ATM was introduced by HSBC?
1) 1967
2) 1969
3) 1987
4) 1976
5) 1992
Answer- 3) 1987
Explanation:
First ATM in India was introduced by HSBC in 1987. The first ATM was launched by Barclays Bank in
1967 in London.
- Which of the following is not a Negotiable Instrument as per the Negotiable Instrument Act,
1881?
1) Bank Note
2) Fixed Deposit Receipt
3) Bill of exchange
4) Promissory Note
5) Cheque
Answer- 2) Fixed Deposit Receipt
Explanation:
A negotiable instrument is a piece of paper that entitles a person to a sum of money and which is
transferable from one person to another under the Negotiable Instrument Act 1881. A negotiable
instrument means a promissory note, bill of exchange, Cheque. Bank Note, Bank Draft, Circular Note,
Dividend Warrant.
- MCLR is the minimum lending rate below which a bank is not permitted to lend.
What does ‘L’ Stand for?
1) Lending
2) Linking
3) Liquidity
4) Loan
5) Listed
Answer- 1) Lending
Explanation:
Marginal Cost of Funds based Lending Rate (MCLR) is the minimum lending rate below which a
bank is not permitted to lend.
i. MCLR replaced the earlier base rate system to determine the lending rates for commercial banks.
ii. RBI implemented MCLR on 1 April 2016 to determine rates of interest for loans.
- Name the Insurance company that has recently (in Nov ‘23) partnered with the Finconvenio
Services Private Limited to provide easy access to get health insurance.
1) Star Health and Allied Insurance
2) Aditya Birla Health Insurance
3) HDFC ERGO General Insurance
4) Niva Bupa Health Insurance
5) Max Life Insurance
Answer- 1) Star Health and Allied Insurance
Explanation:
Star Health and Allied Insurance has announced a partnership with Finconvenio Services Private
Limited, (Finequs) a technology-driven financial services distribution company, to enhance its
presence across India.
• This partnership would provide easy access to standalone health insurer’s products to people
living in small towns and cities, empower over a million local kirana and neighborhood retail
stores owners to provide health insurance to their customers.
• This tie-up would provide easy access to health insurance in more than 2,500 pin codes in the
country
- What is the Full form of ‘LTRO’?
1) Liquidity Term Reserve Operations
2) Liquidity Time Repo Operations
3) Long-Term Repo Operations
4) Long-Term Reserve Operations
5) Long-Time Repo Operations
Answer- 3) Long-Term Repo Operations
Explanation:
LTRO is Long-Term Repo Operations.
• LTRO is a tool that allows banks to borrow one to three years of funds from the Central Bank at
the Repo rate. It is called ‘Targeted’ LTRO if the Central Bank wants banks opting for funds
under this option to be specifically invested in investment-grade corporate debt.
• LTRO was first introduced by the European Central Bank (ECB) during its sovereign debt crisis
that began in 2008.
- What is the Tagline of IndusInd Bank?
1) Be A Step Ahead Of Life
2) We Make You Feel Richer
3) Good People to Grow With
4) Your Perfect Banking Partner
5) We understand your world
Answer- 2) We Make You Feel Richer
Explanation:
About IndusInd Bank:
Establishment – 1994
Headquarters – Mumbai, Maharashtra
MD & CEO – Sumant Kathpalia
Tagline – We Make You Feel Richer
