MCIR June 2020

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MCIR June 2020 Quiz

Test your knowledge on the recent developments in the banking and financial sector with our MCIR June 2020 Quiz. This quiz comprises a variety of questions that cover crucial topics like the Reserve Bank of India's regulations, housing finance companies, digital transaction security, and more.

11 thought-provoking questions
Multiple choice format to challenge your understanding
Learn important financial concepts

11 Questions3 MinutesCreated by FinanceGuru527

The Reserve Bank on June 26, 2020, keeping in view the continuing hardships faced by banks in terms of social distancing of staff and consequent strains on reporting requirements, decided to extend the relaxation of the minimum daily maintenance of the Cash Reserve Ratio (CRR) of 80 per cent for a further period of three months, I.e., up to September 25, 2020. In the above context, assume that the NDTL of a bank is Rs. 100 crore and CRR required to be maintained is 3%, then which of the following is true:

A. The bank should maintain CRR of Rs. 2.4 crore (80%) for full fortnight

B. The bank should maintain minimum CRR of Rs. 2.4 crore (80%) on daily basis for full fortnight

C. The bank should maintain minimum CRR of Rs. 2.4 crore (80%) on daily basis and hence on some days of the fortnight, the bank can keep CRR of Rs. 2.4 crore but on some of the days, the bank has to keep higher CRR so that the average CRR for the fortnight should come to 3%.

D. The bank should maintain CRR of Rs. 80 crore.

Which of the following is true about Housing Finance Companies (HFCs)

A. Regulation and Supervision of HFC is now with RBI

B. Regulation is now with RBI but a Supervision is with NHB

C. Regulation and Supervision of HFC is with NHB

D. Regulation is with NHB and Supervision of HFC is now with RBI

The Reserve Bank advised member lending institutions to ensure that they assign zero per cent risk weight on credit facilities extended under the Emergency Credit Line Guarantee Scheme (ECLGS) to the extent of guarantee coverage. In the above context, what is the meaning of zero per cent risk weight

A. If a loan is granted under this scheme, then a bank need not keep any additional capital for this loan.

B. If a loan is granted under this scheme, then RBI will reimburse the loss in case of default by borrower.

C. If a loan is granted under this scheme, then the rate of interest for loans under this scheme will be zero percent.

D. If a loan is granted under this scheme, then the profit to the bank will be zero.

The Reserve Bank on June 22, 2020, with the objective to promote safe digital transactions, advised the general public to take the following precautions while carrying out digital transactions:

A. Not sharing with anyone their ATM/Card (Debit/ Credit/Prepaid) details;

B. Not sharing their Password, PIN, OTP, CVV, UPIPIN;

C. Avoid undertaking banking or other financial transactions through public, open or free wifi networks

D. All are true

XYZ NBFC is registered with RBI. XYZ has given loan to a customer through an outsourced lending platform ABC. The customer wants to avail moratorium on his loan and has sent a complaint to CEPC. To whom will you send the complaint for comments:

A. The complaint will be sent to ABC

B. The complaint will be sent to XYZ as ABC has only provided the platform.

C. The customer has not dealt with the RBI regulated entity and hence complaint will not be entertained.

FIDD, CO brought out the third edition of Financial Awareness Message (FAME) Booklet keeping in view the emerging developments in the financial services landscape. The updated FAME booklet comprises of 20 important messages across four themes. Which of the following is not part of four themes

A. Basic Banking,

B. Banking for Senior Citizens

C. Digital Financial Literacy

D. Consumer Protection.

Hyderabad Office conducted the 19th Empowered Committee meeting on Micro Small and Medium Enterprises (MSMEs) for Telangana State through video conference on July 20, 2020. The meeting in an RO is headed by

A. Regional Director

B. CGM FIDD, CO

C. GM / DGM in charge of Dept of Supervision

D. GM / DGM in charge of FIDD

Shri Shaktikanta Das, Governor delivered a speech on ‘’Are Dynamic Shifts Underway in the Indian Economy?’’ at the Confederation of Indian Industries (CII) National Council, Mumbai on July 27, 2020. In this speech, the Governor said that the country has now become a power surplus country.

A. The above statement is True

B. The above statement is False

Shri Shaktikanta Das, Governor delivered a speech on ‘’Are Dynamic Shifts Underway in the Indian Economy?’’ Shri Das remarked that India is now one of the leading producers of milk, cereals, pulses, vegetables, fruits, cotton, sugarcane, fish, poultry and livestock in the world.

A. The above statement is True

B. The above statement is False

Which of the following will be a new inclusion in Priority Sector Lending

MSME

Loan to Small and Marginal Farmers

Loan to startups

Education loans

Name:

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