Banking & Financial Awareness Quiz: Part 27

1. Which bank is the first bank to be set up in the eastern part of India after independence?

a. Bank of India
b. Bandhan Bank
c. Indian Bank
d. Union Bank

2. Which of the following companies became the first Indian company to issue masala bonds to raise Rs 3000 crore?
a. Tata Consultancy
b. Infosys
c. Housing Development and Finance Corporation
d. Industrial Credit and Investment Corporation of India

3. Fixed deposit (FD) can be done for a maximum period of
a. 10 Years
b. 20 Years
c. 15 Years
d. 25 Years

4. Which of the following banks launched the first talking ATM for differently-abled persons?
a. UCO Bank
b. Union Bank
c. ICICI Bank
d. HDFC Bank

5. Which of the following act as the Issuing and Paying Agent (IPA) for commercial papers?
a. Development Banks
b. Corporative Banks
c. Non-Scheduled Banks
d. Scheduled bank

6. Under which section of Foreign Exchange Management Act, 1999 areAauthorised Money Changers (AMCs) authorised under RBI?
a. Section 10
b. Section 11
c. Section 12
d. Section 09

7. How many remittances can be received by a single individual beneficiary under the scheme during a calendar year?
a. 20
b. 30
c. 15
d. 25

8. Which of the following banks does not have its headquarter in Kolkata?
a. Andhra Bank
b. United bank of India,
c. UCO bank
d. Allahabad Bank

9. Tagline of Canara Bank is
a. One Family One Bank
b. Relationships beyond Banking
c. Together We Can
d. Your Perfect Banking Partner

10. The minimum amount that could be transferred using RTGS is
a. 4 Lakh
b. 8 Lakh
c. 5 Lakh
d. 2 Lakh

Answers with Explanation

1. b. Bandhan Bank

Kolkata-headquartered Bandhan Bank is the first bank to be set up in the eastern part of India after independence.

2. c. Housing Development and Finance Corporation

Housing Development and Finance Corporation (HDFC) became the first Indian company to issue masala bonds to raise Rs 3000 crore.

3. a. 10 Years

Fixed deposit (FD) can be done for a maximum period of 10 years.

4. b. Union Bank

Union Bank of India was the first bank who launched talking ATM for the differently abled person.

5. d. Scheduled bank

Commercial Paper (CP) is an unsecured money market instrument issued in the form of promissory note. Corporates, primary dealers (PDs) and the All-India Financial Institutions (FIs) can issue CP but only a scheduled bank can act as an Issuing and Paying Agent (IPA). 6. a. Section 10
Authorized Money Changers (AMCs) are those entities which are authorised by the Reserve Bank under Section 10 of the Foreign Exchange Management Act, 1999 to deal in foreign exchange for specified purposes. An AMC is a Full Fledged Money Changer (FFMC). 7. b. 30

Thirty remittances can be received by a single individual beneficiary under the scheme during a calendar year and Amount up to Rs. 50,000 may be paid in cash to a beneficiary in India.

8. a. Andhra Bank
Andhra Bank has its headquarters in Hyderabad 9. c. Together We Can 10. d. 2 Lakh

Real Time Gross Settlement (RTGS) is meant for large scale transaction. The minimum amount that could be transferred using RTGS is Rs. 2 lakh which there is no upper limit.