General AwarenessNRI Bankingmixed

NRI Banking Quiz

Practice quiz on NRI Banking (General Awareness). 10 exam-style questions with explanations.

10
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10
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About This Quiz

Practice quiz on NRI Banking (General Awareness). 10 exam-style questions with explanations. NRI Banking Quiz is a free, 10-minute, 10-mark practice quiz on AajExam rated at mixed difficulty, designed to help candidates preparing for SSC, UPSC, Banking, Railway and State PSC government competitive exams sharpen their command of NRI Banking (General Awareness). Every question on this quiz ships with a detailed step-by-step solution so you don't just learn the right answer — you learn the reasoning and shortcuts top scorers use to crack similar questions faster on the actual exam day. Why NRI Banking Quiz matters in your preparation: government exam-conducting bodies repeatedly draw questions from the same chapters and the same skill-clusters across recruitment cycles. By attempting focused topic-wise quizzes like this one, you build pattern recognition — the ability to spot which formula, rule or trick applies the moment you see a question. Toppers consistently report that 5-10 quizzes on a single topic delivers more exam-day score gain than 20+ unfocused full-length mocks, because targeted drilling exposes your specific sub-topic weaknesses with surgical precision. How to use this quiz effectively: attempt it in one sitting under the 10-minute timer, without referring to notes or external resources — simulate exam-day conditions exactly. After submission, review the auto-generated analytics to see your accuracy, time per question and section-wise performance. Then go through every wrong and skipped question with the explanation, mentally tagging the underlying concept rather than just memorising the answer. Revisit this quiz after 7-10 days; your second attempt should be 15-20% faster with noticeably better accuracy. After mastering this quiz, explore the 1 related quizzes linked below to broaden your topic coverage. AajExam quiz design principles: every quiz on the platform is curated by subject experts using the actual question formats, difficulty distributions and time pressures of the target government exams. We deliberately avoid generic "textbook" questions in favour of exam-replicating ones. Solutions are written in plain English (and Hindi where source material was bilingual), with step-by-step working for quantitative problems, grammar rules for English questions, and direct reference statements for general awareness items. Performance analytics after each attempt include accuracy, attempt rate, time spent per question, and an estimated all-India percentile so you know exactly where you stand against other candidates. This quiz is completely free to attempt. You only need a free AajExam account to track your performance across attempts, view detailed solutions and unlock the platform-wide analytics dashboard. The platform is mobile-friendly and works seamlessly on smartphones, tablets and desktops — so you can sharpen your NRI Banking (General Awareness) skills in any spare 15-minute window.
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NRI Banking Quiz — Questions with Solutions

All 10 questions from this quiz with the correct answer and explanation. Attempt them yourself first, then open each solution to check your reasoning.

  1. Q1.NRE stands for

    • A.New Rupee Exchange
    • B.Non-Resident Estate
    • C.Non-Resident (External)
    • D.National Rupee Equivalent
    Show answer

    Answer: C. Non-Resident (External)

    NRE.

  2. Q2.Funds in an NRE account are

    • A.Freely repatriable
    • B.Not repatriable
    • C.Frozen
    • D.Taxed in the USA
    Show answer

    Answer: A. Freely repatriable

    Fully repatriable.

  3. Q3.NRO account is used to

    • A.Buy shares abroad
    • B.Manage income earned in India
    • C.Pay US taxes
    • D.Hold foreign currency only
    Show answer

    Answer: B. Manage income earned in India

    Rupee account for Indian income.

  4. Q4.FCNR deposits are held in

    • A.Gold
    • B.Indian rupees
    • C.Land
    • D.Foreign currency
    Show answer

    Answer: D. Foreign currency

    Foreign Currency Non-Resident.

  5. Q5.An NRI is a person of Indian origin

    • A.Living in Delhi
    • B.Residing outside India
    • C.Born in India only
    • D.Working in a bank
    Show answer

    Answer: B. Residing outside India

    Resident abroad.

  6. Q6.Remittances sent by NRIs are called

    • A.Inward remittances
    • B.Subsidies
    • C.Outward remittances
    • D.Exports
    Show answer

    Answer: A. Inward remittances

    Remittances to India.

  7. Q7.India receives the world's highest remittances, mainly from

    • A.Africa
    • B.Antarctica
    • C.Russia only
    • D.The Gulf and the USA
    Show answer

    Answer: D. The Gulf and the USA

    Gulf and US.

  8. Q8.PIO stands for

    • A.Person in Office
    • B.Public Investment Office
    • C.Person of Indian Origin
    • D.Personal Income Order
    Show answer

    Answer: C. Person of Indian Origin

    PIO.

  9. Q9.OCI stands for

    • A.Ordinary Citizen of India
    • B.Overseas Citizen of India
    • C.Overseas Commerce Index
    • D.Office of Central India
    Show answer

    Answer: B. Overseas Citizen of India

    OCI.

  10. Q10.FEMA stands for

    • A.Foreign Exchange Management Act
    • B.Financial Exchange Market Act
    • C.Federal Exchange Management Authority
    • D.Foreign Exports Management Act
    Show answer

    Answer: A. Foreign Exchange Management Act

    FEMA 1999.

Frequently Asked Questions

Is NRI Banking Quiz free to attempt on AajExam?

Yes. NRI Banking Quiz is completely free. You only need a free AajExam account to track your score, view detailed solutions and unlock cross-attempt analytics.

How long does it take to complete NRI Banking Quiz?

NRI Banking Quiz runs on a 10-minute timer in real exam-style conditions. The clock starts the moment you click Start, mirroring the time pressure of the actual exam.

Are detailed solutions provided?

Yes. Every question on NRI Banking Quiz ships with a complete step-by-step solution, the underlying concept, and (where applicable) shortcut tricks. You can also discuss any question with the AajExam community.

Can I attempt NRI Banking Quiz multiple times?

Yes. You can attempt this quiz as many times as you like. Each attempt is recorded separately so you can track improvement in score, accuracy and time-management.

Which government exams does this quiz prepare me for?

NRI Banking questions appear regularly in SSC CGL, CHSL, MTS, GD; IBPS PO, Clerk; SBI PO, Clerk; RRB NTPC, Group D; UPSC prelims and most State PSC exams. The specific weightage varies by exam — check the exam pattern on the corresponding AajExam exam page for details.

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