New Student Offer - Use Code HELLO

Register Now

Financial Awareness Question Bank May 2024

Published on Monday, June 10, 2024

1 As per RBI latest guidelines, What is the maturity period of the Floating Rate Bonds (FRBs)?

  • A) Five years
  • B) Seven years
  • C) Ten years
  • D) Twelve years

2 What significant change did the Securities and Exchange Board of India (SEBI) make to the investment norms for non-resident Indians (NRIs) and Overseas Citizens of India (OCIs) on April 30, 2024?

  • A) They are now allowed to own up to 50% in global funds set up at the Gujarat International Finance Tec-City (GIFT City)
  • B) They are now allowed to own up to 100% in global funds set up at the Gujarat International Finance Tec-City (GIFT City)
  • C) They are now allowed to own up to 75% in global funds set up at the Gujarat International Finance Tec-City (GIFT City)
  • D) They are now allowed to own up to 25% in global funds set up at the Gujarat International Finance Tec-City (GIFT City)

3 Why did the Reserve Bank of India (RBI) cancel the license of Acemoney India Limited?

  • A) Due to successful business practices
  • B) Due to irregular lending practices and violation of RBI guidelines
  • C) Due to a change in the company’s management
  • D) Due to the company’s expansion into new markets

4 The Reserve Bank of India (RBI) recently released an updated Guidance Note on Operational Risk Management and Operational Resilience. What is the PRIMARY purpose of this update?

  • A) To replace outdated information on credit risk management
  • B) To introduce entirely new regulations for the banking sector
  • C) To emphasize the importance of lenders recovering from disruptions
  • D) To update information on managing a single type of operational risk

5 What is the aim of the partnership between NPCI International Payments Limited (NIPL) and Bank of Namibia (BoN)?

  • A) To develop a cryptocurrency for Namibia
  • B) To develop an instant payment system similar to India’s UPI for Namibia
  • C) To establish a new bank in Namibia
  • D) To introduce credit cards in Namibia

6 What is the purpose of the Integrated Pensioners’ Portal, also known as the Bhavishya Portal?

  • A) To provide job opportunities for retired government employees.
  • B) To streamline and simplify various pension-related services for retired government employees
  • C) To provide health insurance for retired government employees.
  • D) To provide financial advice for retired government employees

7 What is the purpose of the KAVACH system?

  • A) To prevent train collisions and enhance safety
  • B) To increase the speed of trains
  • C) To improve the comfort of train journeys
  • D) To reduce the cost of train tickets

8 What is the purpose of the recent amendments to the SEBI (Mutual Funds) Regulations, 1996?

  • A) To increase the profits of Asset Management Companies (AMCs)
  • B) To curb fraudulent practices in mutual funds
  • C) To promote the sale of mutual funds
  • D) To reduce the number of mutual funds in the market

9 According to the new rules, what is the maximum risk banks can take in the stock market in a day?

  • A) 10%
  • B) 30%
  • C) 20%
  • D) 40%

10 What tasks are delegated to Research Analysts and Investment Advisers Supervisory Bodies (RAASBs) and Investment Advisers Supervisory Bodies (IAASBs) under the new SEBI framework?

  • A) Initial application scrutiny and supervision
  • B) Registration and enforcement
  • C) Market analysis and prediction
  • D) Financial auditing

11 What was India’s rank in the World Press Freedom Index in 2024?

  • A) 158
  • B) 159
  • C) 160
  • D) 161

12 What is the purpose of REC Limited setting up a subsidiary in GIFT City?

  • A) To diversify its portfolio and explore new growth avenues
  • B) To provide financial services to rural areas
  • C) To comply with a new regulation by the RBI
  • D) To acquire another company

13 Which country is the Country Coordinator of India for ASEAN-India Dialogue Relations?

  • A) Malaysia
  • B) Indonesia
  • C) Singapore
  • D) Thailand

14 What is the name of the authority that permitted Foreign Portfolio Investors (FPIs) to issue derivative instruments with Indian securities?

  • A) Securities and Exchange Board of India (SEBI)
  • B) Reserve Bank of India (RBI)
  • C) International Financial Services Centres Authority (IFSCA)
  • D) Ministry of Finance, India

15 What tax benefits does the Promise4Growth plan offer?

  • A) Tax benefits only on benefits received.
  • B) Tax benefits only on premium paid.
  • C) Tax benefits on premium paid and benefits received as per prevailing tax laws under Income Tax Act, 1961.
  • D) No tax benefits.

16 Who is responsible for verifying merchant details for BHIM Aadhaar Pay according to the new guidelines issued by National Payments Corporation of India (NPCI)?

  • A) The merchants themselves
  • B) The Reserve Bank of India
  • C) The acquiring member banks
  • D) The National Payments Corporation of India

17 Which city tops the list in the World’s Wealthiest Cities Report 2024?

  • A) London
  • B) Tokyo
  • C) New York City
  • D) San Francisco

18 According to the World’s Wealthiest Cities Report 2024 by Henley & Partners, New York City tops the list.

  • A) Within 7 working days from the end of the half-yearly period
  • B) Within 15 days from the date of issuance of the circular by the supervisory body
  • C) Within 30 days from the end of the half-yearly period
  • D) Within 10 days from the date of issuance of the circular by the supervisory body

19 What is the Annual Investment Meeting (AIM) Congress?

  • A) A global platform for discussing investment trends, challenges, and opportunities.
  • B) A local event for discussing investment trends.
  • C) A global platform for discussing only challenges in investment.
  • D) A local event for discussing only opportunities in investment.

20 What is the global rank of India in terms of net gain in average annual forest area between 2010 and 2020?

  • A) First
  • B) Second
  • C) Third
  • D) Fourth

21 Who became India’s largest trading partner in the fiscal year 2023-24?

  • A) United States
  • B) Australia
  • C) Japan
  • D) China

22 Who has been appointed as the new Executive Director of the Reserve Bank of India (RBI) effective from May 10, 2024?

  • A) Shri R. Lakshmi Kanth Rao
  • B) Shri S. Venkataraman
  • C) Shri P. Raghuram Rajan
  • D) Shri K. C. Chakrabarty

23 What is the aim of the Drone Didi Yojana?

  • A) To train 15,000 women to operate drones for agricultural purposes
  • B) To train 15,000 women to operate drones for military purposes
  • C) To train 15,000 women to operate drones for entertainment purposes
  • D) To train 15,000 women to operate drones for transportation purposes

24 Which Indian company signed the deal with the Port & Maritime Organisation of Iran for the operations of the Chabahar Port?

  • A) Reliance Ports
  • B) Adani Ports
  • C) Indian Ports Global Limited (IPGL)
  • D) Essar Ports

25 Which bank became the first to join the India International Bullion Exchange (IIBX) as a Trading-cum-Clearing Member (TCM)?

  • A) HDFC Bank
  • B) ICICI Bank
  • C) Punjab National Bank
  • D) State Bank of India (SBI)

26 What is the new method for calculating the market capitalization of listed companies under the Listing Obligations and Disclosure Requirements (LODR) Regulations?

  • A) Single day’s market cap
  • B) Average Market Capitalization over a defined period
  • C) Total assets of the company
  • D) Total number of shares issued by the company

27 How many independent directors must be on the board of insurers according to the new IRDAI regulations?

  • A) One
  • B) Two
  • C) Four
  • D) Three

28 What is the name of the platform recently launched by the RBI to facilitate regulatory approvals for individuals and entities?

  • A) PRAVAAH
  • B) Retail Direct mobile app
  • C) FinTech Repository
  • D) G-sec app

29 Under the Foreign Exchange Management (Deposit) (Fourth Amendment) Regulations, 2024, which of the following non-residents can open interest-bearing accounts in India?

  • A) All non-resident individuals
  • B) All non-resident individuals
  • C) Non-resident individuals with a permitted derivative contract with an authorized dealer in India
  • D) Non-resident corporations with investments in India

30 According to the RBI circular, which banks can issue Irrevocable Payment Commitments (IPCs)?

  • A) Any commercial bank
  • B) Only custodian banks
  • C) Only custodian banks
  • D) Both custodian and investment banks

31 What additional clause must be included in a client agreement before a custodian bank issues an IPC?

  • A) A clause outlining the client's investment goals
  • B) A clause specifying the interest rate on the IPC
  • C) A clause granting the bank an inalienable right over received securities
  • D) A clause detailing the repayment schedule for the IPC

32 How is the risk exposure from issuing IPCs categorized for custodian banks?

  • A) As operational risk
  • B) As credit risk
  • C) As Capital Market Exposure (CME)
  • D) Not categorized as a separate risk

33 What is the maximum intraday risk exposure allowed for Capital Market Exposure (CME) arising from issuing Irrevocable Payment Commitments (IPCs)?

  • A) 10% of the settlement amount
  • B) 20% of the settlement amount
  • C) 30% of the settlement amount
  • D) 40% of the settlement amount

34 How can a client further reduce the risk exposure for the custodian bank when issuing an Irrevocable Payment Commitments IPC?

  • A) By increasing the interest rate on the IPC
  • B) By providing a margin in the form of cash or permitted securities
  • C) By shortening the settlement period for the IPC
  • D) By providing a detailed investment strategy document

35 Effective from July 1, 2024, what is the minimum percentage of foreign currency notes that FFMCs/ADs Cat-II must sell to the public (for permitted purposes) on a quarterly basis compared to what they purchase from other FFMCs/ADs?

  • A) 50%
  • B) 75%
  • C) 90%
  • D) There is no minimum requirement.

36 What is the purpose of the ‘Bima Central’ platform?

  • A) To provide car insurance
  • B) To aggregate and manage insurance portfolios
  • C) To offer banking services
  • D) To sell insurance policies

37 What is the purpose of the MoU signed between The Federation of Indian Chambers of Commerce (FICCI) and the India Electronics and Semiconductor Association (IESA)?

  • A) To promote innovation and support the semiconductor and electronics industry
  • B) To strengthen supply chains and foster the development of the ecosystem in India with global impact
  • C) Both A and B
  • D) None of the above

38 What is the aim of the MoU signed between Agriculture Insurance Company of India Ltd (AIC) and CSC e-Governance Services India Ltd (CSC)?

  • A) To provide health insurance to rural India
  • B) To provide life insurance to rural India
  • C) To expand the reach of AIC’s cattle insurance product, “Sampoorna Pashudhan Kawach”, across rural India
  • D) Total of shares issued by the companumberny

39 What is India’s rank in the World Economic Forum’s Travel & Tourism Development Index (TTDI) 2024?

  • A) 54th
  • B) 26th
  • C) 39th
  • D) 18th

40 Which award did POWERGRID receive in 2024?

  • A) ATD Best Award
  • B) ATD Excellence Award
  • C) ATD Innovation Award
  • D) ATD Leadership Award

41 What is the target of headline retail inflation as per the RBI’s State of the Economy Report?

  • A) 3%
  • B) 4%
  • C) 5%
  • D) 6%

42 What is the main purpose of the PRAVAAH portal launched by the RBI?

  • A) To provide a secure platform for online banking transactions
  • B) To offer financial education and resources to the public
  • C) To streamline the application process for RBI authorizations, licenses, and regulatory approvals
  • D) To facilitate international trade and finance operations

43 What percentage was the Contingent Risk Buffer (CRB) increased to for FY 2023-24?

  • A) 5.50%
  • B) 6.00%
  • C) 7.00%
  • D) 6.50%

44 What is the purpose of the Indian Army’s initiative with the green hydrogen fuel cell bus?

  • A) To promote diesel technology for heavy-duty e-mobility
  • B) To promote hydrogen and fuel cell technology for heavy-duty e-mobility
  • C) To promote solar power for heavy-duty e-mobility
  • D) To promote wind energy for heavy-duty e-mobility

45 Which organizations are required to disclose their annual activities on the Social Stock Exchange (SSE) for FY24?

  • A) Only for-profit social enterprises
  • B) Only government organizations
  • C) Not-for-profit organizations (NPOs) registered on the Social Stock Exchange (SSE)
  • D) All publicly listed companies

46 What is the primary objective of the MoU signed between MEA, MeitY, and CSC e-Governance Services India Ltd?

  • A) To provide financial assistance to migrant workers
  • B) To facilitate eMigrate services through CSCs for blue-collar workers
  • C) To offer free travel to ECR countries
  • D) To create job opportunities in foreign countries

47 Which was the highest-ranked Indian institution in the THE Asia University Rankings 2024?

  • A) Indian Institute of Technology, Delhi
  • B) Indian Institute of Science, Bengaluru
  • C) University of Delhi
  • D) Jawaharlal Nehru University

48 What is the purpose of the issuance of subordinate units by privately placed Infrastructure Investment Trusts (InvITs) as notified by SEBI?

  • A) To bridge the valuation gaps that may arise due to the difference in the valuation of an asset assessed by the Sponsor and the InvIT
  • B) To increase the market capitalization of InvITs
  • C) To raise funds through public issues
  • D) To provide voting rights to the sponsor

49 Who is the target group for the Maha Krishi Samrudhi Yojana (MKSY)?

  • A) Urban Real Estate Developers
  • B) Retail Traders
  • C) IT and Software Companies
  • D) Food and Agro-Based industries & Agri Infrastructure Projects including Startups

50 What was the net income of the Reserve Bank of India (RBI) for the year 2023-24?

  • A) 87,420 crore
  • B) 1.87 lakh crore
  • C) 2.11 lakh crore
  • D) 70.48 lakh crore
ebook store

About us

ramandeep singh

Ramandeep Singh, your guide to banking and insurance exams. With 14 years of experience and 5000+ selections, Ramandeep understands the path to success, having transitioned himself from Dena Bank and SBI. He's passionate about helping you achieve your banking and insurance dreams.

  • Follow me:
Close Menu
Close Menu