MCQ Test: RBI Circulars- 2 - Bank Exams MCQ

According to the given context, the merger of L&T Finance Holdings Limited's subsidiaries with RBI is subject to various statutory and regulatory approvals. The central bank, RBI, has already provided a 'no objection' for the scheme through a letter, but the merger is still subject to other approvals. Therefore, the regulatory approval required for the merger is from the Reserve Bank of India (RBI).

According to the given context, the Board of Directors of L&T Finance Holdings Limited approved the collaboration of its subsidiaries through a merger by way of a scheme of arrangement. This scheme of arrangement is carried out under Section 52 of the Companies Act, 2013. Therefore, Section 52 of the Companies Act, 2013, allows the collaboration of L&T Finance Holdings Limited's subsidiaries through a merger.

The given information states that Karur Vysya Bank was penalized by the RBI for non-compliance with certain provisions related to fraud and complaints. The bank failed to report certain accounts as frauds to the RBI within a week of the respective Joint Lenders' Forum decisions. Therefore, the correct answer is B) Failure to report accounts as frauds.

As per the given information, the RBI imposed a penalty of Rs. 30 lakh on Karur Vysya Bank for non-compliance with certain provisions related to fraud and complaints. Therefore, the correct answer is C) Rs. 30 lakh.

The purpose of the 5-day Variable Rate Repo auction conducted by the Reserve Bank of India is to provide liquidity in the banking system when it is in deficit.

The reversal of funds for the 5-day Variable Rate Repo auction conducted by the Reserve Bank of India will take place on March 29.

The information states that term deposits have been estimated to be at 13.2% on a year-on-year basis. This indicates an increase in the interest rates for term deposits.

The information mentions that banks have revised their repo rate and benchmark prime lending rates by 250 bps in line with the increases in the policy repo rate since May last year. This indicates a significant increase in the repo rate by the RBI.

According to the given data, the deal involves Yes Bank selling its stressed assets worth ₹48,000 crore to JC Flowers.

The data states that JC Flowers will pay only 15% upfront of the ₹12,000 crore offer it made for Yes Bank's stressed assets. The remaining 85% payment will be staggered over the years.

According to the given context, the RBI launched the digital rupee in the wholesale segment on November 1st, 2022, while the retail segment was launched later on December 1st, 2022.

As per the provided information, the total digital rupee in circulation in the retail segment is Rs. 4.14 crores, while in the wholesale segment, it is Rs. 126.27 crores.

According to the given information, HDFC, ICICI, Axis Bank, Federal Bank, Bandhan Bank, and IDFC First Bank, all led by SBI, purchased stocks in Yes Bank in March 2020.

As per the provided data, SBI's stake in Yes Bank changed from 30% to 26.14% between June and December 2022.

The information states that daily UPI transactions increased by 50% from 24 crore in February 2022. Therefore, the increase in daily transactions is: 24 crore * 50% = 12 crore.

The information mentions that RBI governor Shaktikanta Das praised various digital payment initiatives, including NEFT, RTGS, IMPS, Bharat Bill Payment System, and Aadhaar-enabled Payment System. UPI is also mentioned as one of the most popular modes of digital payments in India.

The theme of the Vision 2025 associated with RBI's 'Har Payment Digital' mission is "E-Payments for Everyone, Everywhere and Everytime." This theme reflects the objective of the mission to make every citizen a user of digital payments and facilitate the onboarding of new consumers into the digital payment system.

The purpose of the 'Har Payment Digital' mission launched by RBI is to make every citizen a user of digital payment by reinforcing its ease and convenience. The mission aims to promote digital payments and facilitate the onboarding of new consumers into the digital payment system. This initiative reflects the growing trend and benefits of digital payments in terms of enhancing financial inclusion, reducing cash dependence, and promoting transparency, as stated by the RBI Governor.

The Reserve Bank of India (RBI) has imposed a penalty of over Rs 3.06 crore on Amazon Pay (India) for non-compliance with certain rules related to Prepaid Payment Instruments (PPIs) and Know Your Customer (KYC) direction.

While the exact reason for Amazon Pay's failure to comply with the rules is not clear from the available sources, possible factors could include challenges in verifying customer identities, neglecting to report transactions or customer data, and violating provisions of the Master Directions on PPIs issued by the RBI in 2021.