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
d) NABARD
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)
