Tuesday, October 31, 2017

BANKING GK FOR RRB EXAMS QUESTIONS


1. What is the maximum amount that can be deposited in Sukanya Samridhi Account (SSA)?
1) Rs 1 lakh per annum
2) Rs 1.5 lakh per annum
3) Rs 10 lakh per annum
4) Rs 5 lakh per annum
5) No limit

2. Which of the following is an association of banks dealing in foreign exchange as a self regulatory body?
1) IBA
2) SEBI
3) FEMA
4) FEDAI
5) None of these

3. Which of the following statements is not correct?
1) Bank deposits are insured by DICGC for a maximum amount of Rs. 1 lakh per depositor per bank
2) Prakash Javadekar is the present Union Human Resources Development Minister
3) Pradhan Mantri Fasal Bima Yojana is a crop insurance scheme
4) International day of Yoga is celebrated on June 21
5) Bank of Baroda is the first public sector bank to offer wealth management service

4. Which is the sole reinsurance company in India?
1) Life Insurance Corporation
2) National Insurance Company
3) General Insurance Corporation
4) New India Assurance Company
5) None of these

5. The rate of interest on savings account deposits is decided by?
1) RBI
2) Ministry of Finance
3) IBA
4) Individual Banks
5) None of these

6. The Monetary Policy Committee (MPC) is headed by the?
1) Finance Minister
2) Vice Chairman of NITI Aayog
3) CEO of NITI Aayog
4) Finance Secretary
5) RBI Governor

7. How many entities were given licenses for setting up small finance banks by the Reserve Bank
of India out of a total of 72 applicants?
1) 15
2) 22
3) 25
4) 10
5) None of these

8. A Banking Ombudsman is appointed by the?
1) President of India
2) Finance Minister
3) RBI
4) Lead Bank of the State
5) None of these

9. What is the full form of MUDRA?
1) Micro Units Development and Regulating Agency
2) Micro Units Development and Registration Agency
3) Major Units Development and Refinance Agency
4) Micro Units Development and Refinance Agency
5) None of these

10. The Central Board of Direct Taxes (CBDT) has launched which of the following, for online redressal of taxpayers' grievances?
1) e - abhay
2) e - nivaran
3) e - tax
4) e - IT
5) e - grievances

11.
SETU (Self-Employment and Talent Utilization) is a program that supports all aspects of start up businesses and other selfemployment activities. It is established under?
1) NABARD
2) SIDBI
3) RBI
4) NITI Aayog
5) None of these

12. The Reserve Bank of India prepares Financial Stability Report every?
1) Three months
2) Six months
3) Year
4) Month
5) Two years

13. ONICRA is a leading?
1) Non Banking Financial Company
2) Credit and Performance Rating Agency
3) White Label ATM Operator
4) Asset Reconstruction Company
5) None of these

14. Which of the following is not a financial regulator in India?
1) RBI
2) SEBI
3) IRDA
4) PFRDA
5) IBA

15. When a bank returns a cheque unpaid, it is called?
a) Payment of the cheque
b) Drawing of the cheque
c) Cancelling of the cheque
d) Dishonour of the cheque
e) Taking of the cheque

16. RBI pays interest on CRR balances of banks at _____.
a) Bank Rate
b) Repo Rate
c) Bank Rate minus 2%
d) Zero %
e) None of the above

17. The Bank should comply and intimate the compliance of Award to Ombudsman within ______
a) 2 Months
b) 3 months
c) One month
d) One year
e) None of the above

18. What are the features of selective credit control?
a) They distinguish between essential and nonessential uses of Bank credit
b) Only nonessential uses are brought under the scope of Credit Bank controls
c) They affect not only the lenders but also the borrowers
d) All the above
e) None of the above

19. Which of the following are the targets for different categories of priority sector?
a) Overall target 40% of net Bank credit
b) Agriculture loans (direct and indirect) 18%
c) Priority sector target for foreign Banks is 32%
d) All of the above
e) None of the above

20. Which of the following can be called as intermediary in the Financial System?
a) Insurance companies
b) Banking companies
c) Mutual funds
d) All of the above
e) None of the above

21. A depositor wants to give nomination in favour of a Needy Charitable Trust. Is it acceptable to the banker?
a) Yes, anyone can be a nominee
b) No, only a blood relative should be a nominee
c) As per the discretion of the Branch Manager
d) No, as per Nomination Guide lines only Individuals can be nominated as Nominee and not institutions
e) None of the above

22. Which of the following is not an India based credit rating agency?
a) CRISIL
b) CARE
c) Standard & Poor
d) ICRA
e) None of the above

23. SMERA is an SME Rating Agency in India meant for?
a) Rating on credit worthiness of MSME
b) Rating on Quality Management
c) Rating on Training System
d) Rating on Technology usage in the organization
e) None of the above

24. Which of the following is not insured by the DICGC?
a) All Indian commercial Banks
b) Foreign Banks branches functioning in India
c) Local Area Banks
d) Cooperative Banks
e) Primary cooperative societies

25. Which of the following is not a feature of Recurring Deposit Account?
a) Rate of interest will be higher than Savings Bank Account
b) Loan facility is available on Recurring Deposit
c) No TDS on the interest earned
d) Premature closure of the Recurring Deposit Account is not allowed
e) None of the above

26. Cash Reserve Ratio is to be maintained by banks with reference to which of the following?
a) Time liabilities
b) Demand liabilities
c) Time and demand liabilities
d) Net demand and time liabilities
e) None of the above

27. What is the minimum CRR as per the relevant Act?
a) No minimum
b) 4%
c) 3%
d) 6%
e) 8%

28. Which of the following is not true in case of SARFAESI Act 2002?
a) Banks can take action of recovery of loan, in case of NPA, without intervention of court
b) Minimum Rs 1.00 lakh overdue should be in the loan account
c) Sixty days notice to be given under the Act to the defaulted borrower
d) SARFAESI Act can be implemented even if one installment in term loan is overdue
e) All of the above

29. The main function of an Asset Management Company is:
a) Hold the securities of various schemes
b) Manage the funds by making investments in various types of securities
c) Hold its property for the benefit of the unit holders
d) Act on behalf of SEBI
e) All of the above

30. Which kind of assistance is provided by EXIM Bank to Indian Companies?
a) Direct loans to exporters
b) Technology services
c) Credit for export of capital goods
d) a and b
e) All of the above

31. Which of the following includes "banking business" as per Banking Regulation Act?
a) Acceptance of deposit
b) Collection of bills
c) Buying of foreign exchange
d) All of the above
e) None of the above

32. Which of the following acts deals with the Right of Appropriation?
a) Indian Contract Act
b) Companies Act
c) Negotiable Instruments Act
d) All of the above
e) None of the above

33. Depositories hold shares in _ form:
a) Physical
b) Dematerialized
c) Either a or b
d) Both a and b
e) None of the above

34. What is the full form of NBMSME?
a) National Bank for Micro, Small and Medium Enterprises
b) National Board for Micro, Small and Medium Enterprises
c) National Board for Micro, Selected Medium Enterprises
d) National Bank for Medium and selected Medium Entrepreneurs
e) None of the above

35. Mr Kanungo is appointed as RBI Deputy Governor (who is presently Executive Director in
the central bank) will replace Mr._______ , Deputy Governor.
a) Viral Achary
b) NS Vishwanathan
c) R.Gandhi
d) S.S.Mundra
e) None of the above

36. Which type of machine is used by Business Correspondents?
a) Micro ATMs
b) POS
c) Biometric Card Reader
d) Solar empowered
e) Water resistant

37. _____ provides Clearing House facilities for netting of Payments and Security delivery:
a) Primary dealers
b) Banks
c) Stock exchanges
d) All of the above
e) None of the above

38. ____ is the regulatory authority for Mutual funds:
a) IRDA
b) SEBI
c) RBI
d) Ministry of Corporate affairs
e) All of the above

39. The Main activity of the Financial Intelligence Unit India (FIUIND) is to control:
a) Tax Evasion
b) Money Laundering
c) Terrorism
d) Avoiding NPAs
e) Avoiding frauds in ATMs

40. Primary dealers deal in:
a) Shares
b) Insurance
c) Government securities
d) None of the above
e) All of the above

41. The main function of an Asset Management Company is to:
a) hold the securities of various schemes
b) manage the funds by making investments in various types of securities
c) hold its property for the benefit of the unit holders
d) act on behalf of SEBI
e) All the above

42. What is the purpose of reduction in Cash Reserve Ratio (CRR)?
a) Reduce Credit Flow
b) Enhance Credit Flow
c) Enhance availability of cash
d) Reduce Cash transactions
e) None of the above

43. In India, conventionally, bonds are issued by institutions in ____ sector while debentures by corporate in ____ sector.
a) private, public
b) public, private
c) either a or b
d) cooperative, NBFC
e) None of the above

44. Who notifies Foreign Trade Policy?
a) RBI
b) DGFT
c) Govt. of India
d) ECGC
e) None of the above

45. Cash kept in the currency chest is owned by?
a) Currency Chest branch bank
b) State Bank of India
c) Central Government
d) Reserve Bank of India
e) None of the above

46. Expand the term LIBOR as used in financial banking sectors?
a) Local Indian Bank Offered Rate
b) London-India Bureau of Regulations
c) Liberal International Bank Official Ratio
d) London Inter Bank Offered Rate
e) None of the above

47. Which one of the following rates is NOT decided by the RBI?
a) Bank Rate
b) Repo Rate
c) Reverse Repo Rate
d) Income Tax Rates
e) Only a & b

48. When more than one bank is allowing credit facilities to one party in coordination with each
other under a formal arrangement, the arrangement is generally known as:
a) Participation
b) Consortium
c) Syndication
d) Multiple Banking
e) All the above

49. The headquarters of International Monetary Fund is ___
a) Geneva
b) Paris
c) London
d) Manila
e) Washington

50. Who is the new chairman of SEBI?
a) Ajay Yogi
b) UK Sinha
c) TS Vijayan
d) G Srinivasan
e) None of the above
51. Rural Infrastructure Development fund (RIDF) is maintained by?
a) Selected group of public Sector Banks
b) Ministry of Rural Development
c) Reserve Bank of India
d) NABARD
e) None of the above

52. The bank conducts Government business as an agent of ?
a) Union and state Government
b) Reserve Bank of India
c) State Bank of India
d) SIDBI
e) None of the above

53. Interest on the savings bank accounts is calculated on a ……………  product basis
a) Daily
b) Yearly
c) Quarterly
d) Half-yearly
e) All of the above

54. Rates of Interest on deposits are determined by?
a) IBA
b) Ministry of Finance
c) The Bank Itself
d) Government of India
e) Other than the given

55. Current account becomes dormant when there are no withdrawals for the last?
a) 3 months
b) 6 months
c) 24 months
d) 12 months
e) None of the above

56. “Plastic Money” denotes?
a) Bearer cheque
b) Credit card
c) Demand Draft
d) Traveller’s cheque
e) Gift cheque

57. National Income of India is estimated by?
a) Central Estimates Survey Committee
b) National Sample Survey Committee
c) Central Statistical Organization
d) Finance Ministry
e) Other than the given

58. Nomination facility is available to?
a) Individuals/Sole Proprietorship accounts/Private Limited Companies
b) Individuals/Sole Proprietorship Accounts/Partnership Accounts
c) Individuals/Sole Proprietorship Accounts
d) All of the above
e) Other than the given

59. If a currency note is demonetized, it takes away the ....... of that currency.
a) legal tender character
b) exchange rate
c) value
d) All of the above
e) Other than the given

60. Currency Note containing political slogan is not a legal tender as per:
a) Legal Tender (Inscribed Notes) Act, 1964
b) Negotiable Instruments Act, 1881
c) Reserve Bank of India Act
d) All of the above
e) Other than the given

61. Deposits under NRE/FCNB accounts are linked to?
a) Base Rate
b) SIBOR
c) LIBOR
d) All of the above
e) Other than the given

62. Electronic Fund Transfer scheme of RBI has been renamed as?
a) Clearing
b) Core Banking Solutions
c) Real Time Gross Settlement
d) National Electronic Fund Transfer
e) All of the above

63. Which private bank is recently merged with Kotak Mahindra Bank (KMB)?
a) ING Vysya Bank
b) KarurVysya Bank
c) Lakshmi Vilas Bank
d) Jammu and Kashmir Bank
e) Other than the given

64. Which two private sector banks have got license from RBI in 2014?
a) Bandhan and Yes Bank
b) Yes Bank and IDFC
c) IDFC Bank and Bandhan Bank
d) Axis Bank and ICICI
e) Other than the given

65. Refinance facility is provided by NABARD. Which institutions can avail this facility?
a) State cooperative banks
b) Regional rural banks
c) Commercial bank
d) All of the above
e) Other than the given

66. Which of the following is true?
a) NBFCs can accept deposits from the public
b) NBFCs cannot offer deposit schemes to the public
c) Deposits of NBFCs are insured with DICGC
d) NBFCs can accept deposits from public if they are registered and permitted by RBI
e) Other than the given

67. Commercial banks are the largest category of financial intermediaries; others include?
a) Life-insurance companies
b) Pension funds
c) Savings and loan institutions
d) All of the above
e) None of the above

68. An average citizen cannot open a Savings account in which of the following?
a) Commercial bank
b) Post office
c) Co-operative bank
d) RBI
e) Other than the given

69. card is basically a payment mechanism which allows the holder to make purchase without any immediate cash outflows either physically or through his accounts?
a) Debit
b) Smart
c) Credit
d) ATM
e) Kisan Credit

70. The Negotiable Instruments Act deals with?
a) Cheques, demand drafts, banker’s cheques
b) Promissory notes, bills of exchange and cheques
c) Bills of exchange, Cheques and demand drafts
d) Cheques, demand drafts and saving bank withdrawal forms
e) None of the above

71. has been declared the first ‘total banking state’ in India, successfully implementing the total financial inclusion thereby ensuring banking facility to all households.
a) Maharashtra
b) Kerala
c) Himachal Pradesh
d) Uttarakhand
e) None of the above

72. What do you understand by the term ‘Mortgage’?
a) Sale of moveable security in the event of default by the borrower
b) Registration of charge with the Registrar of Companies
c) Making the security of immovable property avail able as a cover for a home loan by the borrower
d) Registration of charge with the Regional Transport Authority
e) Returning of the security to borrower by the bank of receipt of full payment

73.Which of the following acts is useful in controlling HAWALA transactions?
a) FEMA Act
b) RBI Act
c) DICGC Act
d) Banking Regulation Act
e) None of the above

74.CAMELS’ is a type of Bank Rating System. In CAMELS, what does ‘C’ stand for?
a) Currency
b) Compensation
c) Capital Adequacy
d) Capitalisation
e) None of the above

75. The main function of SIDBI is:
a) Promotion of agricultureb) Finance of SSI
c) Development of SSI
d) All of the above
e) None of the above


FOR ANSWERS SEE THE SIMILAR SECTION BELOW





BANKING GK FOR RRB EXAMS



1. What is the maximum amount that can be deposited in Sukanya Samridhi Account (SSA)?
1) Rs 1 lakh per annum
2) Rs 1.5 lakh per annum
3) Rs 10 lakh per annum
4) Rs 5 lakh per annum
5) No limit

2. Which of the following is an association of banks dealing in foreign exchange as a self regulatory body?
1) IBA
2) SEBI
3) FEMA
4) FEDAI
5) None of these

3. Which of the following statements is not correct?
1) Bank deposits are insured by DICGC for a maximum amount of Rs. 1 lakh per depositor per bank
2) Prakash Javadekar is the present Union Human Resources Development Minister
3) Pradhan Mantri Fasal Bima Yojana is a crop insurance scheme
4) International day of Yoga is celebrated on June 21
5) Bank of Baroda is the first public sector bank to offer wealth management service

4. Which is the sole reinsurance company in India?
1) Life Insurance Corporation
2) National Insurance Company
3) General Insurance Corporation
4) New India Assurance Company
5) None of these

5. The rate of interest on savings account deposits is decided by?
1) RBI
2) Ministry of Finance
3) IBA
4) Individual Banks
5) None of these

6. The Monetary Policy Committee (MPC) is headed by the?
1) Finance Minister
2) Vice Chairman of NITI Aayog
3) CEO of NITI Aayog
4) Finance Secretary
5) RBI Governor

7. How many entities were given licenses for setting up small finance banks by the Reserve Bank
of India out of a total of 72 applicants?
1) 15
2) 22
3) 25
4) 10
5) None of these

8. A Banking Ombudsman is appointed by the?
1) President of India
2) Finance Minister
3) RBI
4) Lead Bank of the State
5) None of these

9. What is the full form of MUDRA?
1) Micro Units Development and Regulating Agency
2) Micro Units Development and Registration Agency
3) Major Units Development and Refinance Agency
4) Micro Units Development and Refinance Agency
5) None of these

10. The Central Board of Direct Taxes (CBDT) has launched which of the following, for online redressal of taxpayers' grievances?
1) e - abhay
2) e - nivaran
3) e - tax
4) e - IT
5) e - grievances

11.
SETU (Self-Employment and Talent Utilization) is a program that supports all aspects of start up businesses and other selfemployment activities. It is established under?
1) NABARD
2) SIDBI
3) RBI
4) NITI Aayog
5) None of these

12. The Reserve Bank of India prepares Financial Stability Report every?
1) Three months
2) Six months
3) Year
4) Month
5) Two years

13. ONICRA is a leading?
1) Non Banking Financial Company
2) Credit and Performance Rating Agency
3) White Label ATM Operator
4) Asset Reconstruction Company
5) None of these

14. Which of the following is not a financial regulator in India?
1) RBI
2) SEBI
3) IRDA
4) PFRDA
5) IBA

15. When a bank returns a cheque unpaid, it is called?
a) Payment of the cheque
b) Drawing of the cheque
c) Cancelling of the cheque
d) Dishonour of the cheque
e) Taking of the cheque

16. RBI pays interest on CRR balances of banks at _____.
a) Bank Rate
b) Repo Rate
c) Bank Rate minus 2%
d) Zero %
e) None of the above

17. The Bank should comply and intimate the compliance of Award to Ombudsman within ______
a) 2 Months
b) 3 months
c) One month
d) One year
e) None of the above

18. What are the features of selective credit control?
a) They distinguish between essential and nonessential uses of Bank credit
b) Only nonessential uses are brought under the scope of Credit Bank controls
c) They affect not only the lenders but also the borrowers
d) All the above
e) None of the above

19. Which of the following are the targets for different categories of priority sector?
a) Overall target 40% of net Bank credit
b) Agriculture loans (direct and indirect) 18%
c) Priority sector target for foreign Banks is 32%
d) All of the above
e) None of the above

20. Which of the following can be called as intermediary in the Financial System?
a) Insurance companies
b) Banking companies
c) Mutual funds
d) All of the above
e) None of the above

21. A depositor wants to give nomination in favour of a Needy Charitable Trust. Is it acceptable to the banker?
a) Yes, anyone can be a nominee
b) No, only a blood relative should be a nominee
c) As per the discretion of the Branch Manager
d) No, as per Nomination Guide lines only Individuals can be nominated as Nominee and not institutions
e) None of the above

22. Which of the following is not an India based credit rating agency?
a) CRISIL
b) CARE
c) Standard & Poor
d) ICRA
e) None of the above

23. SMERA is an SME Rating Agency in India meant for?
a) Rating on credit worthiness of MSME
b) Rating on Quality Management
c) Rating on Training System
d) Rating on Technology usage in the organization
e) None of the above

24. Which of the following is not insured by the DICGC?
a) All Indian commercial Banks
b) Foreign Banks branches functioning in India
c) Local Area Banks
d) Cooperative Banks
e) Primary cooperative societies

25. Which of the following is not a feature of Recurring Deposit Account?
a) Rate of interest will be higher than Savings Bank Account
b) Loan facility is available on Recurring Deposit
c) No TDS on the interest earned
d) Premature closure of the Recurring Deposit Account is not allowed
e) None of the above

26. Cash Reserve Ratio is to be maintained by banks with reference to which of the following?
a) Time liabilities
b) Demand liabilities
c) Time and demand liabilities
d) Net demand and time liabilities
e) None of the above

27. What is the minimum CRR as per the relevant Act?
a) No minimum
b) 4%
c) 3%
d) 6%
e) 8%

28. Which of the following is not true in case of SARFAESI Act 2002?
a) Banks can take action of recovery of loan, in case of NPA, without intervention of court
b) Minimum Rs 1.00 lakh overdue should be in the loan account
c) Sixty days notice to be given under the Act to the defaulted borrower
d) SARFAESI Act can be implemented even if one installment in term loan is overdue
e) All of the above

29. The main function of an Asset Management Company is:
a) Hold the securities of various schemes
b) Manage the funds by making investments in various types of securities
c) Hold its property for the benefit of the unit holders
d) Act on behalf of SEBI
e) All of the above

30. Which kind of assistance is provided by EXIM Bank to Indian Companies?
a) Direct loans to exporters
b) Technology services
c) Credit for export of capital goods
d) a and b
e) All of the above

31. Which of the following includes "banking business" as per Banking Regulation Act?
a) Acceptance of deposit
b) Collection of bills
c) Buying of foreign exchange
d) All of the above
e) None of the above

32. Which of the following acts deals with the Right of Appropriation?
a) Indian Contract Act
b) Companies Act
c) Negotiable Instruments Act
d) All of the above
e) None of the above

33. Depositories hold shares in _ form:
a) Physical
b) Dematerialized
c) Either a or b
d) Both a and b
e) None of the above

34. What is the full form of NBMSME?
a) National Bank for Micro, Small and Medium Enterprises
b) National Board for Micro, Small and Medium Enterprises
c) National Board for Micro, Selected Medium Enterprises
d) National Bank for Medium and selected Medium Entrepreneurs
e) None of the above

35. Mr Kanungo is appointed as RBI Deputy Governor (who is presently Executive Director in
the central bank) will replace Mr._______ , Deputy Governor.
a) Viral Achary
b) NS Vishwanathan
c) R.Gandhi
d) S.S.Mundra
e) None of the above

36. Which type of machine is used by Business Correspondents?
a) Micro ATMs
b) POS
c) Biometric Card Reader
d) Solar empowered
e) Water resistant

37. _____ provides Clearing House facilities for netting of Payments and Security delivery:
a) Primary dealers
b) Banks
c) Stock exchanges
d) All of the above
e) None of the above

38. ____ is the regulatory authority for Mutual funds:
a) IRDA
b) SEBI
c) RBI
d) Ministry of Corporate affairs
e) All of the above

39. The Main activity of the Financial Intelligence Unit India (FIUIND) is to control:
a) Tax Evasion
b) Money Laundering
c) Terrorism
d) Avoiding NPAs
e) Avoiding frauds in ATMs

40. Primary dealers deal in:
a) Shares
b) Insurance
c) Government securities
d) None of the above
e) All of the above

41. The main function of an Asset Management Company is to:
a) hold the securities of various schemes
b) manage the funds by making investments in various types of securities
c) hold its property for the benefit of the unit holders
d) act on behalf of SEBI
e) All the above

42. What is the purpose of reduction in Cash Reserve Ratio (CRR)?
a) Reduce Credit Flow
b) Enhance Credit Flow
c) Enhance availability of cash
d) Reduce Cash transactions
e) None of the above

43. In India, conventionally, bonds are issued by institutions in ____ sector while debentures by corporate in ____ sector.
a) private, public
b) public, private
c) either a or b
d) cooperative, NBFC
e) None of the above

44. Who notifies Foreign Trade Policy?
a) RBI
b) DGFT
c) Govt. of India
d) ECGC
e) None of the above

45. Cash kept in the currency chest is owned by?
a) Currency Chest branch bank
b) State Bank of India
c) Central Government
d) Reserve Bank of India
e) None of the above

46. Expand the term LIBOR as used in financial banking sectors?
a) Local Indian Bank Offered Rate
b) London-India Bureau of Regulations
c) Liberal International Bank Official Ratio
d) London Inter Bank Offered Rate
e) None of the above

47. Which one of the following rates is NOT decided by the RBI?
a) Bank Rate
b) Repo Rate
c) Reverse Repo Rate
d) Income Tax Rates
e) Only a & b

48. When more than one bank is allowing credit facilities to one party in coordination with each
other under a formal arrangement, the arrangement is generally known as:
a) Participation
b) Consortium
c) Syndication
d) Multiple Banking
e) All the above

49. The headquarters of International Monetary Fund is ___
a) Geneva
b) Paris
c) London
d) Manila
e) Washington

50. Who is the new chairman of SEBI?
a) Ajay Yogi
b) UK Sinha
c) TS Vijayan
d) G Srinivasan
e) None of the above
51. Rural Infrastructure Development fund (RIDF) is maintained by?
a) Selected group of public Sector Banks
b) Ministry of Rural Development
c) Reserve Bank of India
d) NABARD
e) None of the above

52. The bank conducts Government business as an agent of ?
a) Union and state Government
b) Reserve Bank of India
c) State Bank of India
d) SIDBI
e) None of the above

53. Interest on the savings bank accounts is calculated on a ……………  product basis
a) Daily
b) Yearly
c) Quarterly
d) Half-yearly
e) All of the above

54. Rates of Interest on deposits are determined by?
a) IBA
b) Ministry of Finance
c) The Bank Itself
d) Government of India
e) Other than the given

55. Current account becomes dormant when there are no withdrawals for the last?
a) 3 months
b) 6 months
c) 24 months
d) 12 months
e) None of the above

56. “Plastic Money” denotes?
a) Bearer cheque
b) Credit card
c) Demand Draft
d) Traveller’s cheque
e) Gift cheque

57. National Income of India is estimated by?
a) Central Estimates Survey Committee
b) National Sample Survey Committee
c) Central Statistical Organization
d) Finance Ministry
e) Other than the given

58. Nomination facility is available to?
a) Individuals/Sole Proprietorship accounts/Private Limited Companies
b) Individuals/Sole Proprietorship Accounts/Partnership Accounts
c) Individuals/Sole Proprietorship Accounts
d) All of the above
e) Other than the given

59. If a currency note is demonetized, it takes away the ....... of that currency.
a) legal tender character
b) exchange rate
c) value
d) All of the above
e) Other than the given

60. Currency Note containing political slogan is not a legal tender as per:
a) Legal Tender (Inscribed Notes) Act, 1964
b) Negotiable Instruments Act, 1881
c) Reserve Bank of India Act
d) All of the above
e) Other than the given

61. Deposits under NRE/FCNB accounts are linked to?
a) Base Rate
b) SIBOR
c) LIBOR
d) All of the above
e) Other than the given

62. Electronic Fund Transfer scheme of RBI has been renamed as?
a) Clearing
b) Core Banking Solutions
c) Real Time Gross Settlement
d) National Electronic Fund Transfer
e) All of the above

63. Which private bank is recently merged with Kotak Mahindra Bank (KMB)?
a) ING Vysya Bank
b) KarurVysya Bank
c) Lakshmi Vilas Bank
d) Jammu and Kashmir Bank
e) Other than the given

64. Which two private sector banks have got license from RBI in 2014?
a) Bandhan and Yes Bank
b) Yes Bank and IDFC
c) IDFC Bank and Bandhan Bank
d) Axis Bank and ICICI
e) Other than the given

65. Refinance facility is provided by NABARD. Which institutions can avail this facility?
a) State cooperative banks
b) Regional rural banks
c) Commercial bank
d) All of the above
e) Other than the given

66. Which of the following is true?
a) NBFCs can accept deposits from the public
b) NBFCs cannot offer deposit schemes to the public
c) Deposits of NBFCs are insured with DICGC
d) NBFCs can accept deposits from public if they are registered and permitted by RBI
e) Other than the given

67. Commercial banks are the largest category of financial intermediaries; others include?
a) Life-insurance companies
b) Pension funds
c) Savings and loan institutions
d) All of the above
e) None of the above

68. An average citizen cannot open a Savings account in which of the following?
a) Commercial bank
b) Post office
c) Co-operative bank
d) RBI
e) Other than the given

69. card is basically a payment mechanism which allows the holder to make purchase without any immediate cash outflows either physically or through his accounts?
a) Debit
b) Smart
c) Credit
d) ATM
e) Kisan Credit

70. The Negotiable Instruments Act deals with?
a) Cheques, demand drafts, banker’s cheques
b) Promissory notes, bills of exchange and cheques
c) Bills of exchange, Cheques and demand drafts
d) Cheques, demand drafts and saving bank withdrawal forms
e) None of the above

71. has been declared the first ‘total banking state’ in India, successfully implementing the total financial inclusion thereby ensuring banking facility to all households.
a) Maharashtra
b) Kerala
c) Himachal Pradesh
d) Uttarakhand
e) None of the above

72. What do you understand by the term ‘Mortgage’?
a) Sale of moveable security in the event of default by the borrower
b) Registration of charge with the Registrar of Companies
c) Making the security of immovable property avail able as a cover for a home loan by the borrower
d) Registration of charge with the Regional Transport Authority
e) Returning of the security to borrower by the bank of receipt of full payment

73.Which of the following acts is useful in controlling HAWALA transactions?
a) FEMA Act
b) RBI Act
c) DICGC Act
d) Banking Regulation Act
e) None of the above

74.CAMELS’ is a type of Bank Rating System. In CAMELS, what does ‘C’ stand for?
a) Currency
b) Compensation
c) Capital Adequacy
d) Capitalisation
e) None of the above

75. The main function of SIDBI is:
a) Promotion of agricultureb) Finance of SSI
c) Development of SSI
d) All of the above
e) None of the above








Monday, October 30, 2017

BANKING GK



1.  LAF stands for…………………………..  (Liquidity Adjustment Facility)

2.  Validity of a cheque in India is …………….. months from the date of cheque.  (3)

3.  Right of a banker to retain goods and securities until the discharge of debt is called …………   (lien)

4.  Income tax, sales tax and wealth tax authorities issue ……………..  attachment order  (revenue)

5.  In India, a minor can open and transact alone if his age is more than ………..  years (10)

6.  If an account is not operated for a period of …………. months, it is classified as a dormant or an inoperative account.  (24)

7.  Placement, Layering and integration are the three stages in ………….  (money laundering)


8.  The Main activity of the Financial Intelligence Unit India (FIUIND) is to control……  (money laundering)

9.  Any utility bill (electricity, telephone bill etc.,) can be accepted by a banker as proof of address provided that it should not be more than ……..  months old   (2)

10.  TDS is applicable if the annual income from all term deposits of a person exceeds Rs…………….  Per year  (10000)

11.  PAN has …………….  alphabetical characters in it.  (6)

12.  Max. per bank, per party insurance coverage available for deposits is for Rs…………….  (10000)

13.  For bank deposits, insurance coverage is extended by ………………  (DICGC)

14.  Minimum period for which term deposit can be made in Indian banks is …………..  (7 days)

15.  Cash transaction repot includes all single transactions amounting to above Rs.10 lacs and cumulative of all transactions in a month if it exceeds ……………  lacs   (10)

16.  Chief regulator of insurance sector in India is ……………….  (IRDA)

17.  Appelate authority in Banking Ombudsman scheme is …………………….  (Deputy Governor, Banking division, RBI)

18.  In banking, an unclaimed deposit is one which is not operated for ………….. years from the date of deposit in case of demand liabilities and from the date of maturity in case of term liabilities.

19.  The central board of RBI has …………….  members in it.  (21)

20.  Urjit patel, the present Governor of RBI is its……………..th Governor.  (24)

21.  RBI stipulated banks to extend interest in SB accounts on a ……………  basis  (quarterly)

22.  Taking away of legal tender character of a currency is called …….  (demonetization) 

23.  Central govt. has …………..  percentage share in the authorized capital of RRBs (50)

24.  GST at a rate of  ……………  percent is applicable to all banking services.  (18)

25.  Max. limit fixed for NEFT transaction is ………………  (no limit)

26.  Rupay card is issued by ………………..   (National Payment corporation of India)

27.  Banks transfer unclaimed deposit to a fund named …………….  maintained with RBI  (DEAF)

28.  Priority sector target for RRBs is ……………..  percentage of their total advances   (75)

29.  For those savings bank accounts, classified as ‘small’, the max. per month transactions available is ….  (4)

30.  Expanded form of the fund named DEAF is ……………. (Depositor Education and Awareness Fund)

31.  Currently, denominations of Rs.2000/- are printed at presses set up by …… (Bharatiya Reserve bank Note Mudran Pvt. Ltd)

32.  RIDF is maintained with ………………….  (NABARD)

33.  In case of accounts maintained by NRIs, the type of account, the interest income from which comes under income tax bracket is ……………  (NRO)

34.  Foreign banks with branches 20 or more have to achieve priority sector target of 40% by …………….  (March 2018)

35.  Bulk deposits are amounting to more than ………………  (1 crore)

36.  If loan is granted on deposits, the max. interest rate can be ……………. Percent above the deposit rate.  (2)

37.  For tax saver deposit in banks, its period of deposit is …………..  years  (5)

38.  The initial period of deposit of a PPF account is  …….. years (15)

39.  The  ……………… of a company is known as the character of the company which specifies its name, authorized capital, registered office, address, objects etc.,  (memorandum of association)

40.  A person seeking an information as per RTI, 2005 has to pay a fee of …………..  (Rs.10/-)