Banking MCQ Questions and Answers
11. Who was the Chief Guest of 21st World Congress of Accountants (WCOA) in November 2022?
- A) Narendra Modi
- B) Shri Om Birla
- C) Rishi Sunak
- D) Amit Shah
B) Shri Om Birla
Explanation: The 21st World Congress of Accountants (WCOA) in November 2022 had multiple distinguished guests rather than a single chief guest.
Shri Om Birla, the Speaker of Lok Sabha, India, inaugurated the event.
Smt. Nirmala Sitharaman, the Minister of Corporate Affairs & Finance of India, delivered a keynote address.
12. RBI issued ‘Acquisition and Holding of Shares or Voting Rights in Banking Companies Direction, 2023’ which allowed promoter to hold _ from the current 15%?
- A) 20%
- B) 26%
- C) 30%
- D) 35%
B) 26%
Explanation: The RBI’s new direction allows a promoter to hold up to 26% of shares or voting rights in banking companies, up from the previous limit of 15%.
13. Who chaired the 8 member committee on ‘One Nation, One Election’?
- A) Amit Shah
- B) Narendra Modi
- C) Ram Nath Kovind
- D) Arun Jaitley
C) Ram Nath Kovind
Explanation: The former President of India, Ram Nath Kovind, chaired the committee on ‘One Nation, One Election’ to explore the feasibility of simultaneous elections in the country.
14. Which company has introduced the Pincode on India’s Open Network for Digital Commerce (ONDC) platform?
- A) Amazon Pay
- B) GPay
- C) PayTM
- D) PhonePe
D) PhonePe
Explanation: PhonePe introduced the Pincode app on the ONDC platform to enable consumers to discover and buy products from a variety of sellers in a seamless manner.
15. Indian Origin Scientist Joyeeta Gupta honoured with NWO Spinoza Prize 2023 for which field?
- A) Physics
- B) Chemistry
- C) Environmental Science
- D) Climate Change
D) Climate Change
Explanation: Joyeeta Gupta, an Indian-origin scientist, was awarded the NWO Spinoza Prize 2023 for her significant contributions to the field of Climate Change. Her work focuses on understanding and addressing the impacts of climate change, and she has been recognized for her influential research and advocacy in this critical area.
16. Which country uses the Iron Dome defense system?
- A) USA
- B) Israel
- C) Russia
- D) China
B) Israel
xplanation: The Iron Dome is an advanced air defense system developed by Israel to intercept and destroy short-range rockets and artillery shells.
17. Who is the regulator of Public General Insurance companies?
- A) Reserve Bank of India
- B) Ministry of Finance
- C) Insurance Regulatory and Development Authority of India
- D) Securities and Exchange Board of India
C) Insurance Regulatory and Development Authority of India
Explanation: The Insurance Regulatory and Development Authority of India (IRDAI) is the regulator of public general insurance companies in India.
18. Which bank launched India’s First Numberless Credit Card?
- A) HDFC Bank
- B) ICICI Bank
- C) IDFC FIRST Bank
- D) Axis Bank
D) Axis Bank
Explanation: Axis Bank launched India’s first numberless credit card, which enhances security by not displaying the card number, expiry date, or CVV on the physical card.
19. At the time of periodical review, which of the following rates are reviewed by the Reserve Bank of India?
- A) Repo Rate
- B) Bank Rate
- C) Savings Bank Rate
- D) All of the above
D) All of the above
Explanation: During its periodical reviews, the Reserve Bank of India (RBI) assesses and adjusts various key rates as part of its monetary policy framework. This includes the Repo Rate, which is the rate at which the RBI lends to commercial banks; the Bank Rate, which is the rate charged by the RBI for long-term loans; and the Savings Bank Rate, which determines the interest rate on savings deposits. These rates are crucial for controlling inflation, managing liquidity, and guiding the overall economic policy.
20. Who was the first Indian Governor of RBI?
- A) C. D. Deshmukh
- B) R. K. Shanmukham Chetty
- C) S. Mukherjee
- D) I. G. Patel
A) C. D. Deshmukh
Explanation: C. D. Deshmukh was the first Indian to serve as the Governor of the Reserve Bank of India, holding office from 1943 to 1949.
