Dear Readers,
1-What is the name of the new online banking platform launched by the Reserve Bank of India (RBI) in 2023?
(A) BHIM UPI
(B) RTGS+
(C) e-RUPI
(D) Cheque truncation system
(E) National Financial Registry
Answer: (C)
2-Which of the following banks was recently merged with HDFC Bank?
(A) Punjab National Bank
(B) Central Bank of India
(C) Bank of Baroda
(D) IDBI Bank
(E) YES Bank
Answer: (D)
3-What is the maximum amount that can be transferred through NEFT (National Electronic Funds Transfer) transaction?
(A) ₹2 lakhs
(B) ₹5 lakhs
(C) ₹10 lakhs
(D) ₹25 lakhs
(E) No limit
Answer: (E)
4-What is the acronym for the term "Real Time Gross Settlement"?
(A) NEFT
(B) RTGS
(C) IMPS
(D) ECS
(E) SI
Answer: (B)
5-What is the full form of the term "Basic Savings Bank Deposit (BSBD)"?
(A) Basic Account for Students and Dependents
(B) Basic Banking for Senior Citizens
(C) Pradhan Mantri Jan Dhan Yojana (PMJDY) Account
(D) Jan Dhan-Aadhaar Linkage (JD-AL) Scheme
(E) None of the above
Answer: (A)
6-What is the name of the digital currency launched by the Reserve Bank of India (RBI) in 2022?
(A) BHIM UPI
(B) RTGS+
(C) e-RUPI
(D) Central Bank Digital Currency (CBDC) or "e₹"
(E) National Financial Registry
Answer: (D)
7-Which of the following is not a type of bank account?
(A) Savings account
(B) Current account
(C) Fixed deposit account
(D) Mutual fund account
(E) Demat account
Answer: (D)
8-What is the purpose of a credit score?
(A) To track your spending habits
(B) To determine your eligibility for loans and credit cards
(C) To calculate your monthly EMI payments
(D) To provide you with investment advice
(E) To protect you from identity theft
Answer: (B)
9-What is the difference between a debit card and a credit card?
(A) A debit card is linked to your savings account, while a credit card has a pre-approved credit limit.
(B) A debit card allows you to spend only the amount available in your account, while a credit card allows you to borrow money and pay it back later.
(C) A debit card transaction is processed immediately, while a credit card transaction takes a few days to clear.
(D) A debit card is safer than a credit card because you cannot overspend.
(E) All of the above
Answer: (B)
10-What is the importance of financial literacy?
(A) It helps you make informed financial decisions.
(B) It protects you from financial scams and frauds.
(C) It enables you to plan for your future financial goals.
(D) All of the above
(E) None of the above
Answer: (D)
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MAHENDRA GURU