Banking Awareness Quiz (Set - 18)

Mentor for Bank Exams
Banking Awareness Quiz (Set - 18)
1. The Indian Financial System Code (IFS Code) is an alphanumeric code that uniquely identifies a bank-branch participating in the two main Electronic Funds Settlement Systems in India. IFSC code consists of how many alphanumeric codes?
a) 10
b) 11
c) 9
d) 12
e) 8
Answer: b)
2. Which among the following committee constituted on Payment Banks license?
a) Dr. Nachiket Mor
b) Deepak Mohanty
c) A C Shan
d) B D Thakar
e) None of these
Answer: a)
3. SARFAESI Act 2002 related to _________.
a) Acquisition of small banks
b) Fixation of interest rates
c) Recovery of bad loans
d) Regulation of foreign exchange
e) None of these
Answer: c)
4. NDTL stands for _______.
a) Net Demand and Term Liability
b) Net Demand and Time Liquidity
c) Net Demand and Trade Liquidity
d) Net Demand and Time Liability
e) None of these
Answer: d)
5. Magnetic Ink Character Recognition (MICR) is a 9 digits code is used mainly by the banking industry to ease the processing and clearance of cheques and other documents. The first three digits represent the ________.
a) Bank
b) City
c) State
d) Branch
e) None of these
Answer: b)
6. A savings as well as current account should be treated as inoperative / inactive if there are no transactions in the account for over a period of _____ years.
a) 5
b) 3
c) 1
d) 2
e) 4
Answer: d)
7. In CDR, “R” stands for ______.
a) Regulation
b) Reserve
c) Restructuring
d) Ratio
e) Reduce
Answer: c)
8. What is the minimum amount required to open a Fixed Deposit (FD)?
a) Rs. 1000
b) Rs. 100
c) Rs. 500
d) Rs. 10000
e) No Limit
Answer: a)
9. If one is not satisfied with the decision passed by the Banking Ombudsman, one can approach the appellate authority to _______.
a) Governor of RBI
b) Deputy Governor of the RBI
c) Finance Secretary
d) Finance Minister
e) GM of the Concern Bank
Answer: b)
10. Headquarters of National Investment and Infrastructure Fund (NIIF) is located at ________.
a) New Delhi
b) Hyderabad
c) Mumbai
d) Kolkata
e) Bangalore
Answer: c)
11. According to the proposal on PSL, what sub target is to be created for Micro Enterprises in India by March 2017?
a) 7 %
b) 7.5 %
c) 8 %
d) 8.5 %
e) None of the above
Answer: b)
12. What is “Stagflation”?
a) inflation with growth
b) deflation with growth
c) inflation after deflations
d) inflation with depression
e) None of the above
Answer: c)
13. Which bank has become the first private sector bank to sell Indian gold coins?
a) Dhanlaxmi Bank
b) Federal Bank
c) ICICI Bank
d) IndusInd Bank
e) Karur Vysya Bank
Answer: b)
14. Which of the following can issue commercial paper for raising short term funds?
a) Corporate
b) Primary Dealers
c) All-India Financial Institutions
d) Both (B) and (C)
e) All of the Above
Answer: e)
15. Section 80E of the Income Tax Act provides for deduction of interest paid on Education or study loan taken for higher education. Deduction under section 80E is available for _____
a) 2 years
b) 4 years
c) 8 years
d) 10 years
e) None of these
Answer: c)
16. What is the full form of FCCB?
a) Foreign Currency convertible Bond
b) Foreign Currency credit Bond
c) Financial Consortium and Credit Bureau
d) Future Credit and Currency Bureau
e) None of the Above
Answer: a)
17. Which of the following institutions is responsible for the supervision of RRBs?
a) RBI
d) GOI
e) Both (a) and (c)
Answer: e)
18. With which article of the Indian Constitution is Money Bill related?
a) Article 110
b) Article 109
c) Article 108
d) Article 107
e) None of the Above
Answer: a)
19. RBS Bank has been headquartered in __________
a) Glasgow, United Kingdom
b) Edinburgh, United Kingdom
c) Skye, United Kingdom
d) Aberdeen, United Kingdom
e) None of these
Answer: b)
20. National Housing Bank (NHB), a wholly owned subsidiary of _________
a) RBI
b) Government Of India
d) State Government
e) None of these
Answer: a)