Finance Literacy Quiz

The word 'bank' came from the middle German word banca. What does that mean?

• Borrow

• Transaction

• Bench

• Office

What does a bank refer to before giving a loan to an individual?

• His/Her Account Balance

• Credit Report

• Do ground research about that person

• His/Her Previous Loans

Which is the largest private sector bank in India?

• HDFC Bank

• ICICI Bank

• Kotak Mahindra Bank

• Axis Bank

When was GST launched?

• 2015

• 2016

• 2019

• 2017

What was the motto of GST?

If the Reserve Bank of India wants to increase the flow of money in the economy,

Hint: Repo rate is the rate at which commercial banks borrow money from RBI​

• it will decrease the Reverse Repo Rate

• it will increase the Repo Rate

• it will decrease the Repo Rate

• it will increase the Reverse Repo Rate

Kumar invests Rs.9000 in a bank at 8% annual interest, compounded quarterly. At the end of the year, how much interest has his investment earned?

Hint: Use Compound Interest Formula

• Rs. 747.5

• Rs.800.05

• Rs.741.89

• Rs.734

Whether Cryptocurrency & digital money we use for daily transactions the same?

• True

• False

When was Bitcoin launched?

• 2008

• 2009

• 2010

• 2011

Which was the first city in the world to install a Bitcoin cash machine, aka, ATM?

• Vancouver

• San Fransisco

• London

• Berlin