Banking Awareness Questions and Answers

MICR code consists of how many digits?
Ans: 9 digits. (First three digits denotes city, next three digits representing the bank and the last three digits representing the bank branch)

Minimum limit on investment in Kisan Vikas Patra?
Ans Rs 1,000

What is the minimum limit in RTGS system?
Ans: 2 lakhs (there is no upper limit in RTGS)

What is Full form IFSC
Ans: Indian Financial System Code

Fastest mode of transaction:

What is IMPS?
Ans: –
Immediate Payment Service is an interbank electronic instant mobile money transfer service through mobile phones in India, the facility is provided by NPCI (National Payment Corporation of India)

Which is the Regulatory body for RRBs?

“Fixed deposit” is also referred to as:
Ans: Term Deposit

The sole authority to issue and manage currency in India:
Ans: RBI

RBI nationalized in ?
Ans: 1949


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