1. Which Organisation/Ministry is the Custodian of Foreign Reserves in India?

A. Finance Ministry B. Foreign Ministry C. Reserve Bank of India(RBI) D. None is Correct

Answer: Option C
Explanation: RBI has the power of custodian regarding foreign exchange. RBI maintains the record of all transactions done in foreign exchange, also keep an eye on CAD (Current Account Deficit).
2. Who was the First Deputy Governor of Reserve Bank of India (RBI)?

A. Osborne Smith B. HO Hume C. Lord Canning D. James B.Taylor

Answer: Option A
Explanation: First Governor of Reserve Bank of India (RBI) – Osborne Smith First Deputy Governor of Reserve Bank of India (RBI) – James B.Taylor
3. Which organisation/ministry is the nodal agency to provide licenses to e-commerce companies?

A.. Finance Ministry B. Corporate Ministry C.. Reserve Bank of India(RBI) D.. Department of Industrial Policy and Promotion (DIPP)

Answer: Option D
Explanation: Department of Industrial Policy and Promotion (DIPP) is the nodal agency to provide licenses to e-commerce companies.
4. National Investment and Infrastructure Fund(NIIF) is recently established by the Union Government. It is an Alternate investment Fund (AIF) of

A. category I B. category II C. category III D. category IV

Answer: Option B
Explanation: NIIF is established by the Union government as a category II Alternative Investment Fund (AIF).
5. Which of the following test(in Banking) is a measure to prove that the jewellery was handed over from the past generation?

A. Heredity Test B. Ancestral Test C. Heirloom Test D. All of the Above

Answer: Option C
Explanation: It is a measure to prove that the jewellery was handed over from the past generation.

1. The applicable interest rate per annum for Kisan Credit Cards is 9%, for a maximum credit limit of

A. Rs. 1 lakh B. Rs. 2 lakh C. Rs. 3 lakh D. Rs. 4 lakh

Answer: Option C
Explanation: Kisan Credit Card interest rates, as well as credit limits, varies from bank to bank. Generally, the applicable interest rate per annum for Kisan Credit Cards is 9%, for a maximum Rs. 3 Lakh as a credit limit.
2. Which Organisation/Government is the administrator of Financial Inclusion Fund (FIF)?

A. Reserve Bank of India(RBI) B. NABARD C. Union Government of India D. Particular Government of the related State

Answer: Option C
Explanation: NABARD maintains the funds of FIF. GOI administers the FIF.
3. A reverse mortgage is a special kind of home loan for

A. Government Employees without any security. B. Senior Citizens C. Beneficiaries under Below Poverty Line Criteria. D. All of the Above

Answer: Option B
Explanation: A reverse mortgage is a special kind of home loan for senior citizens who are above the age of 60. This type of loan does not need any payments on a monthly basis but still, the people who opt for such a loan have to take care of property taxes and homeowner's insurance. Reverse mortgage loans help senior citizens to defer or postpone payment of the home loan till their death or when they sell or move out just because they have accessed the home equity that has been built up in their houses.
4. ‘Open Market Operations’ is related to which of the following organisation?

A. Reserve Bank of India(RBI) B. SEBI C. Department of Investment and Public Asset Management(DIPAM) D. None is Correct

Answer: Option A
Explanation: The buying & selling of government securities by the RBI directly in the open market is known as ‘Open Market Operations’. During inflation, the securities are sold in the market by the central bank. While in the deflation period, the RBI buys the bills from the market & pays cash to the commercial banks.
5. What is 'B' stands for in "CIBIL"(related to credit ratings)?

A. Bureau B. Base C. Bank D. Benchmark

Answer: Option A
Explanation: "CIBIL" stands for 'Credit Information Bureau India Limited'. It is India's first Credit Information Company(CIC).

1. Karnataka Bank has launched co-branded credit cards with which of the following Public Sector Bank(PSB)?

A. Punjab National Bank B. State Bank of India C. Bank of Baroda D. Canara Bank

Answer: Option B
Explanation: Karnataka Bank and SBI Card have launched co-branded credit cards for the customers of Karnataka Bank. Through this alliance Karnataka Bank and SBI Card will launch two variants of the co-branded credit card – ‘Karnataka Bank Platinum SBI Card’ and ‘Karnataka Bank SimplySAVE SBI Card’.
2. Who is appointed as the new MD and CEO of IDBI bank?

A. Rakesh Sethi B. Ravindra Prabhakar Marathe C. Ashwani Kumar D. Mahesh Kumar Jain

Answer: Option D
Explanation: IDBI has appointed Mahesh Kumar Jain as the Managing Director & CEO with immediate effect. Before his role in IDBI, Jain was the Managing Director & Chief Executive Officer of Indian Bank. He was also a member of the steering committee on Risk Management of IBA and a member of the IBA working group on risk management and implementation of Basel II and III. He was also the secretary & coordinator to Basant Seth Committee on Review & revamp of internal & concurrent audit system in PSBs.
3. Country's second-largest private sector lender HDFC Bank has launched its unified payment interface(UPI) app on

A. Chillr B. Truecaller C. FYERS D. Capital Float

Answer: Option A
Explanation: HDFC Bank has launched its unified payment interface app on the fintech startup Chillr. The UPI on Chillr is in addition to the same facility available on the bank's mobile banking application.
4. Canara Bank has partnered with which of the following telecom company to upgrade bandwidth at all of its branches?

A. Bharti Airtel B. BSNL C. Reliance Jio D. IDEA

Answer: Option B
Explanation: Canara Bank, a public sector bank, has embarked upon an ambitious project of upgrading the bandwidth at all its branches to 2 Mbps in partnership with BSNL.
5. Fino Paytech(a payment Bank) has inked a deal with which of the following bank to distribute insurance products?

A. Bank of Baroda B. HDFC Bank C. State Bank of India D. ICICI

Answer: Option D
Explanation: Fino Paytech, which just received the Reserve Bank of India's license to launch a payments bank, has inked a deal with ICICI group companies to distribute insurance products and tied up with Exide Life insurance to sell products via its distribution channel. Fino Payments Bank will sell life and general insurance products of ICICI Prudential and ICICI Lombard.