Banking Awareness Quiz (Set - 16)

Mentor for Bank Exams
Banking Awareness Quiz (Set - 16)
1. Banking Ombudsman Scheme is applicable to the business of_______.
a) All scheduled commercial banks excluding RRBs
b) All scheduled commercial banks including RRBs
c) Only Public Sector Banks
d) Only Private Sector Banks
e) All scheduled banks except private banks
Answer: b)
2. Which of the following functions are not being performed by the Reserve Bank of India?
a) Regulation of Banks in India
b) Regulation of Foreign Direct Investment inIndia
c) Foreign Currency Management in India
d) Currency Management in India
e) Control and Supervision of Money Supply
Answer: b)
3. A bank is called as “Scheduled Bank” when_________.
a) Its business has crossed Rs. 1000 crore mark
b) Its branch network is over 100
c) It is included in the second Schedule of the RBI Act
d) When it complies with all the three above
e) None of these
Answer: c)
4. Which of the following organization/agencies has sought an emergency fund of Rs. 1000 crore from banks to tackle acute liquidity crisis, which is coming in the way to give loans to micro borrowers?
a) Micro Finance Institutions
b) Regional Rural & Cooperative Banks
c) RBI
e) None of these
Answer: d)
5. What is the upper limit prescribed for RTGS transaction?
a) Rs. 5 lacs
b) Rs. 1 lacs
c) Rs. 25 lacs
d) Rs. 50 lacs
e) No upper limits is prescribed
Answer: e)
6. Distribution of insurance products and insurance policies by banks as corporate agents is known as_________.
a) General Insurance
b) Non-life Insurance
c) Bancassurance
d) Insurance Banking
e) Deposit Insurance
Answer: c)
7. Which of the following committees/ Task Forces was set up to suggest reforms in Banking Sector?
a) Swaminathan Committee
b) Narasimham Committee
c) Rajinder Sachar Committee
d) Task Force on Infrastructure
e) None of these
Answer: b)
8. FINO stands for__________.
a) Financial Investment Network and Operations
b) Farmers Investment in National Organization
c) Farmers Inclusion News and Operations
d) Financial Inclusion Network and Operations
e) None of these
Answer: d)
9. When the rate of inflation increases_________.
a) Value of money increases
b) Purchasing power of money decreases
c) Purchase power of money increases
d) Purchasing power of money remains unaffected
e) Amount of money in circulation decreases
Answer: b)
10. Which of the following is the main advantage of “ASBA” with the applicants for share allotment?
a) ASBA applicant has got certain preference in allotment of shares as compared to general applicants
b) ASBA applicants need not remit the fund for allotment of shares, he/she will do after shares are allotment to him/her
c) ASBA applicant has got secured allotment of shares
d) ASBA applicants deposit/OD account is not debited, only the funds are blocked for the same and he/she continues to avail interest till the shares are allotted to him/her.
e) None of these
Answer: d)
11.  Interest on saving bank account is now calculated by banks on________.
a) Minimum balance during the month
b) Minimum balance from 7th to last day of the month
c) Minimum balance from 10th to last day of the month
d) Maximum balance during the month
e) Daily product basis
Answer: e)
12.  A centralized database with online connectivity to branches, internet as well as ATM-network which has been adopted by almost all major banks of our country is known as __________.
a) Investment banking
b) Core banking
c) Mobile banking
d) National banking
e) Specialized banking
Answer: b)
13.  Which of the following is not considered a money market instrument?
a) Treasury bills
b) Repurchase Agreement
c) Commercial Paper
d) Certificate of deposit
e) Shares and bonds
Answer: e)
14.  Which of the following is not a part of the scheduled banking structure in India?
a) State Co-operative Banks
b) Public Sector Banks
c) Private Sector Banks
d) Regional Rural Banks
e) Money Lenders
Answer: e)
15.  Which of the following is known as Plastic money?
i) Demand Draft
ii) Credit Card
iii) Debit Card
a) Only i)
b) Only ii)
c) Only iii)
d) Both ii) and iii)
e) All i), ii) and iii)
Answer: d)
16.  Which of the following terms is used in the field of finance and banking?
a) Guage Pressure
b) Quantum number
c) Adjustment Credit
d) Absolute Zero
e) Single bond
Answer: c)
17.  Goods and Services Tax (GST), would replace which of the following taxes level at present?
a) Income tax
b) Corporate tax
c) Capital gains tax
d) Value-added tax (VAT)
e) All of these
Answer: d)
18.  Normally Banks accepts Fixed Deposits for a maximum period of________.
a) 5 years
b) 3 years
c) 7 years
d) 20 years
e) 10 years
Answer: e)
19.  IFRS stands for________.
a) International Financial Reporting Standards
b) Indian Financial Rating Standards
c) International Financial Rating Standards
d) Indian Functional Reporting Standards
e) None of these
Answer: a)
20.  KYC guidelines followed by the Banks have been framed on the recommendations of the_________.
a) Ministry of Home Affairs
b) Ministry of Rural Development
c) Indian Banks Association
d) Financial Intelligence Unit
e) Reserve Bank of India
Answer: e)