Banking & Financial Awareness Quiz: Part 26

1. When was the first Regional Rural Bank established?

a. 2nd October 1976

b. 2nd October 1978

c. 2nd October 1975

d. 2nd October 1979

2. Which bank sponsored the Regional Rural Bank?

a. Syndicate Bank

b. Bank of India

c. State Bank of India

d. Bank of Baroda

3. In which year was MUDRA (Micro Units Development and Refinance Agency) launched?

4. Which of the following pin is used by Unified Payment Interface (UPI) customer to send money directly from the bank account?

5. Which of the following was the first universal bank of India?

a. Indian Overseas Bank

b. Canara Bank

c. HDFC Bank

d. ICICI Bank

6. The maximum compensation a Banking Ombudsman can help a complainant to get is

a. 15 Lakh

b. 10 Lakh

d. 12 Lakh

7. Head Office of Bank for International Settlements is located in

a. Austria

c. Switzerland

d. Germany

8. Which of the following banks headquarter is not located in New Delhi?

a. Punjab National Bank

b. Punjab and Sindh bank

c. Oriental Bank of Commerce

d. Indian Overseas Bank

9. How many digits are there in MICR (Magnetic Ink Character Recognition) code printed on the bank cheques?

10. On which of the following committees' recommendations was National Bank for Agriculture and Rural Development (NABARD)?

a. A C Shah Committee

b. Adhyarjun Committee

c. Sivaraman Committee

d. Bhave Committee

Answers With Explanation

1. 2nd October 1975
First Regional Rural Bank (RRB) was Prathama Grameen Bank which was set up on 2nd October 1975 at Moradabad City (U.P.). It was sponsored by Syndicate Bank.

2. Syndicate Bank
First Regional Rural Bank (RRB) was Prathama Grameen Bank which was set up on 2nd October 1975 at Moradabad City (U.P.). It was sponsored by Syndicate Bank.

3. 2015
MUDRA (Micro Units Development and Refinance Agency) was launched on 8 April 2015 with an initial corpus of 20,000 crore.

4. M-pin
Unified Payment Interface (UPI), an initiative taken by National Payment Corporation of India (NPCI), allows a customer to send money directly from the bank account through the use of virtual address and M-pin.

5. ICICI Bank
Industrial Credit and Investment Corporation of India (ICICI) was the first universal bank of India as well as the first bank to be listed in New York Stock Exchange.

6. 10 Lakh
The maximum compensation a Banking Ombudsman can help a complainant to get is Rs 10 lakh.

7. Switzerland
BIS stand for Bank for International Settlements and its Head Office is in Basel, Switzerland.

8. Indian Overseas Bank
Punjab National Bank, Punjab and Sindh bank, Oriental Bank of Commerce and Bharatiya Mahila Bank have their Headquarters in New Delhi. Indian Overseas Bank's headquarters is in Chennai

9. 9
MICR (Magnetic Ink Character Recognition) is a 9 digit numeric code printed on the bank cheques and is used to identify the location of bank branch.

10. Sivaraman Committee
National Bank for Agriculture and Rural Development (NABARD) was established on 12 July 1982 on the recommendation of Sivaraman Committee.