GENERAL BANKING AWARENESS
(1). Which Organisation/Ministry is the Custodian of Foreign Reserves in
India?
(a) Finance Ministry
(b) Foreign Ministry
(c) Reserve Bank of India(RBI)
(d) None is Correct
(2). Who was the First Deputy Governor of Reserve Bank of India (RBI)?
(a) Osborne Smith
(b) HO Hume
(c) Lord Canning
(d) James B.Taylor
(3). Which organisation/ministry is the nodal agency to provide licenses to e-commerce companies?
(a) Finance Ministry
(b) Corporate Ministry
(c) Reserve Bank of India(RBI)
(d) Department of Industrial Policy and Promotion (DIPP)
(4). National Investment and Infrastructure Fund(NIIF) is recently established by the Union Government. It is an Alternate investment Fund (AIF) of
(a) category I
(b) category II
(c) category III
(d) category IV
(5). Which of the following test(in Banking) is a measure to prove that the jewellery was handed over from the past generation?
(a) Heredity Test
(b) Ancestral Test
(c) Heirloom Test
(d) All of the Above
(6). The applicable interest rate per annum for Kisan Credit Cards is 9%, for a maximum credit limit of
(a) Rs. 1 lakh
(b) Rs. 2 lakh
(c) Rs. 3 lakh
(d) Rs. 4 lakh
(7). Which Organisation/Government is the administrator of Financial Inclusion Fund (FIF)?
(a) Reserve Bank of India(RBI)
(b) NABARD
(c) Union Government of India
(d) Particular Government of the related State
(8). A reverse mortgage is a special kind of home loan for
(a) Government Employees without any security.
(b) Senior Citizens
(c) Beneficiaries under Below Poverty Line Criteria.
(d) All of the Above
(a) Finance Ministry
(b) Foreign Ministry
(c) Reserve Bank of India(RBI)
(d) None is Correct
(2). Who was the First Deputy Governor of Reserve Bank of India (RBI)?
(a) Osborne Smith
(b) HO Hume
(c) Lord Canning
(d) James B.Taylor
(3). Which organisation/ministry is the nodal agency to provide licenses to e-commerce companies?
(a) Finance Ministry
(b) Corporate Ministry
(c) Reserve Bank of India(RBI)
(d) Department of Industrial Policy and Promotion (DIPP)
(4). National Investment and Infrastructure Fund(NIIF) is recently established by the Union Government. It is an Alternate investment Fund (AIF) of
(a) category I
(b) category II
(c) category III
(d) category IV
(5). Which of the following test(in Banking) is a measure to prove that the jewellery was handed over from the past generation?
(a) Heredity Test
(b) Ancestral Test
(c) Heirloom Test
(d) All of the Above
(6). The applicable interest rate per annum for Kisan Credit Cards is 9%, for a maximum credit limit of
(a) Rs. 1 lakh
(b) Rs. 2 lakh
(c) Rs. 3 lakh
(d) Rs. 4 lakh
(7). Which Organisation/Government is the administrator of Financial Inclusion Fund (FIF)?
(a) Reserve Bank of India(RBI)
(b) NABARD
(c) Union Government of India
(d) Particular Government of the related State
(8). A reverse mortgage is a special kind of home loan for
(a) Government Employees without any security.
(b) Senior Citizens
(c) Beneficiaries under Below Poverty Line Criteria.
(d) All of the Above
(9). ‘Open Market Operations’ is related to which of the following
organisation?
(a) Reserve Bank of India(RBI)
(b) SEBI
(c) Department of Investment and Public Asset Management(DIPAM)
(d) None is Correct
(10). What is 'B' stands for in "CIBIL"(related to credit ratings)?
(a) Bureau
(b) Base
(c) Bank
(d) Benchmark
(a) Reserve Bank of India(RBI)
(b) SEBI
(c) Department of Investment and Public Asset Management(DIPAM)
(d) None is Correct
(10). What is 'B' stands for in "CIBIL"(related to credit ratings)?
(a) Bureau
(b) Base
(c) Bank
(d) Benchmark
ANSWER AND EXPLANATION:
(1). Answer Key: (c)
RBI has the power of custodian regarding foreign exchange. RBI maintain the record of all transactions done in foreign exchange , also keep an eye on CAD (Current Account Deficit).
(2). Answer Key: (a)
First Governor of Reserve Bank of India (RBI) – Osborne Smith
First Deputy Governor of Reserve Bank of India (RBI) – James B.Taylor
(3). Answer Key: (d)
Department of Industrial Policy and Promotion (DIPP) is the nodal agency to provide licenses to e-commerce companies.
(4). Answer Key: (b)
NIIF is established by the Union government as a category II Alternate investment Fund (AIF).
(5). Answer Key: (c)
It is a measure to prove that the jewellery was handed over from the past generation.
(6). Answer Key: (c)
Kisan Credit Card interest rates, as well as credit limits, varies from bank to bank. Generally, the applicable interest rate per annum for Kisan Credit Cards is 9%, for a maximum Rs. 3 Lakh as a credit limit.
(7). Answer Key: (c)
NABARD maintains the funds of FIF. GOI administers the FIF.
(8). Answer Key: (b)
A reverse mortgage is a special kind of home loan for senior citizens who are above the age of 60. This type of loan does not need any payments on a monthly basis but still the people who opt for such a loan have to take care of property taxes and homeowner's insurance. Reverse mortgage loans help senior citizens to defer or postpone payment of the home loan till their death or when they sell or move out just because they have accessed the home equity that has been built up in their houses.
(9). Answer Key: (a)
The buying & selling of government securities by the RBI directly in the open market is known as ‘Open Market Operations’. During inflation, the securities are sold in the market by the central bank. While in the deflation period, the RBI buys the bills from the market & pays cash to the commercial banks.
(10). Answer Key: (a)
"CIBIL" stands for 'Credit Information Bureau India Limited'. It is India's first Credit Information Company(CIC)
RBI has the power of custodian regarding foreign exchange. RBI maintain the record of all transactions done in foreign exchange , also keep an eye on CAD (Current Account Deficit).
(2). Answer Key: (a)
First Governor of Reserve Bank of India (RBI) – Osborne Smith
First Deputy Governor of Reserve Bank of India (RBI) – James B.Taylor
(3). Answer Key: (d)
Department of Industrial Policy and Promotion (DIPP) is the nodal agency to provide licenses to e-commerce companies.
(4). Answer Key: (b)
NIIF is established by the Union government as a category II Alternate investment Fund (AIF).
(5). Answer Key: (c)
It is a measure to prove that the jewellery was handed over from the past generation.
(6). Answer Key: (c)
Kisan Credit Card interest rates, as well as credit limits, varies from bank to bank. Generally, the applicable interest rate per annum for Kisan Credit Cards is 9%, for a maximum Rs. 3 Lakh as a credit limit.
(7). Answer Key: (c)
NABARD maintains the funds of FIF. GOI administers the FIF.
(8). Answer Key: (b)
A reverse mortgage is a special kind of home loan for senior citizens who are above the age of 60. This type of loan does not need any payments on a monthly basis but still the people who opt for such a loan have to take care of property taxes and homeowner's insurance. Reverse mortgage loans help senior citizens to defer or postpone payment of the home loan till their death or when they sell or move out just because they have accessed the home equity that has been built up in their houses.
(9). Answer Key: (a)
The buying & selling of government securities by the RBI directly in the open market is known as ‘Open Market Operations’. During inflation, the securities are sold in the market by the central bank. While in the deflation period, the RBI buys the bills from the market & pays cash to the commercial banks.
(10). Answer Key: (a)
"CIBIL" stands for 'Credit Information Bureau India Limited'. It is India's first Credit Information Company(CIC)
11. Which among the following is the oldest Public Sector Bank of India?
a) Punjab National Bank
b) Central Bank of India
c) Allahabad Bank
d) Bank of Baroda
e) State Bank of India
a) Punjab National Bank
b) Central Bank of India
c) Allahabad Bank
d) Bank of Baroda
e) State Bank of India
Ans: c) Allahabad Bank
12. Name the 5 cities where RBI issued plastic notes ?
a) Kochi,Patna,Delhi,Ahmadabad and Chennai
b) Jaipur,Shimla,Delhi,Patna and Mimbai
c)Mumbai,Shimla,Jaipur,Patna and Chennai
d) Jaipur,Shimla,Kochi,Mysore and Mumbai
e) Kochi,Mysore,Jaipur,Bhubhaneswar and Shimla
a) Kochi,Patna,Delhi,Ahmadabad and Chennai
b) Jaipur,Shimla,Delhi,Patna and Mimbai
c)Mumbai,Shimla,Jaipur,Patna and Chennai
d) Jaipur,Shimla,Kochi,Mysore and Mumbai
e) Kochi,Mysore,Jaipur,Bhubhaneswar and Shimla
Ans: e) Kochi,Mysore,Jaipur,Bhubhaneswar and Shimla
13. Which country issued first purely plastic note ?
a) New Zealand.
b) Mexico,
c) Singapore,
d) Fiji and Canada
e) Australia
Ans: e) Australia
14. Rate of interest is determined by :
a) Commercial Bank
b) Public Bank
c) Private Bank
d) RBI
e) None of these
Ans: a) Commercial Bank
15. India's first non-bank owned ATM (White Label ATMs) open in ?
a) Delhi
b) Bihar
c) Uttar-Pradesh
d) Maharashtra
e) Gujarat
Ans: d) Maharashtra
16. What is White Label ATM ?
a) Owned by Bank
b) Owned by RBI
c) Owned by State
d) Owned by Center
e) None of these
Ans: e) None of these
15. India's first non-bank owned ATM (White Label ATMs) open in ?
a) Delhi
b) Bihar
c) Uttar-Pradesh
d) Maharashtra
e) Gujarat
Ans: d) Maharashtra
16. What is White Label ATM ?
a) Owned by Bank
b) Owned by RBI
c) Owned by State
d) Owned by Center
e) None of these
Ans: e) None of these
17. Name the four entities which are authorised by RBI to operate as WLAs ?
a)National Payment Corporation of India,Vakrangee Ltd.,Tata Communications Payment Solutions and Prizm Payment Services Pvt. Ltd.
b) Vakrangee Ltd.,Tata Communications, Prizm Payment Solution,Reliance and
c) Tata Communications,Prizm Payment Services,Muthoot Finance and Vakrangee Ltd
d) Reliance, Tata Communications , Muthoot Finance and Vakrangee ltd.
e) None of these
Ans: c) Tata Communications,Prizm Payment Services,Muthoot Finance and Vakrangee Ltd
18. India s largest commercial Bank is : ?
a) Bank of Baroda
b) State Bank of India
c) ICICI
d) Punjab National Bank
e) Central Bank of India
Ans: b) State Bank of India
19. A bank account which does not require any minimum balance is termed as
(a) Nil balance account
(b) Zero balance account
(c) Frill account
(d) No Frill account
(e) None of these
Ans: (b) Zero balance account
20. Bank deposits that can be withdrawn without notice are called :
a) Demand Deposits
b) Fixed Deposits
c) On Demand and Time Deposits
d) Basic Savings Deposits
e) None of these
Ans: a) Demand Deposits
21. Contemporary Currency notes have ___ languages on the panel which appear on the reverse of the note.
a) 14 languages
b) 12 languages
c) 16 languages
d) 14 languages
e) 15 languages
Ans: e) 15 languages
22. Mutilated Notes are ?
22. Mutilated Notes are ?
a) Notes which are in pieces and/or of which the essential portions are
missing
b) Any bank note, which is wholly or partially, obliterated, shrunk
c) Notes which are washed, altered or indecipherable
d) Notes which are wholly or partially, obliterated, shrunk, washed, altered or indecipherable
b) Any bank note, which is wholly or partially, obliterated, shrunk
c) Notes which are washed, altered or indecipherable
d) Notes which are wholly or partially, obliterated, shrunk, washed, altered or indecipherable
e) None of these
Ans: a) Notes which are in pieces and/or of which the essential portions
are missing
23. Minimum Limit for sending money to Nepal through NEFT(National Electronic Fund Transfer) in a single day ?
a ) 10 thousand
b) 50 thousand
c) No limit
d) 2 Lakh
e) None of these
Ans: b) 50 thousand
24. Notice Money is a money lend for a period of ?
a) Between 2 and 14 days
b) exceeding 14 days
c) 1 day
d) 2 day
e) None of these
23. Minimum Limit for sending money to Nepal through NEFT(National Electronic Fund Transfer) in a single day ?
a ) 10 thousand
b) 50 thousand
c) No limit
d) 2 Lakh
e) None of these
Ans: b) 50 thousand
24. Notice Money is a money lend for a period of ?
a) Between 2 and 14 days
b) exceeding 14 days
c) 1 day
d) 2 day
e) None of these
Ans: a) Between 2 and 14 days
25. Which is incorrect about NBFC (Non-Banking Financial Company) ?
a) It cannot accept demand deposits
b) deposit insurance facility of Deposit Insurance and Credit Guarantee Corporation is not available to depositors of NBFCs, unlike in case of banks.
c) NBFCs do not form part of the payment and settlement system and cannot issue cheques drawn on itself
d) NBFCs cannot offer interest rates higher than the ceiling rate prescribed by RBI from time to time. The present ceiling is 12.5 per cent per annum
25. Which is incorrect about NBFC (Non-Banking Financial Company) ?
a) It cannot accept demand deposits
b) deposit insurance facility of Deposit Insurance and Credit Guarantee Corporation is not available to depositors of NBFCs, unlike in case of banks.
c) NBFCs do not form part of the payment and settlement system and cannot issue cheques drawn on itself
d) NBFCs cannot offer interest rates higher than the ceiling rate prescribed by RBI from time to time. The present ceiling is 12.5 per cent per annum
e) The deposits with NBFCs are not insured.
Ans: e) The deposits with NBFCs are not insured.
26. The definition of "
Customer" is available under :
(a) Negotiable Instruments Act, 1881
(b) Consumer Protection Act, 1986
(c) Banking Regulation Act, 1949
(d) KYC Guidelines
Ans: (d) KYC Guidelines
27.
The full form of RBS is :
(a) Risk Based Supervision
(b) rating by System
(c) Role Based supervision
(d) Rating Bank security
Ans: (a) Risk Based
Supervision
.
28. INFINET
Stands for :
(a)
Internal Financial Networking
(b)
international Financial Networking
(c)
Indian Financial Network
(d)
Inland Financial Network
Ans(c) Indian Financial Network
29. Expand " SHIPI " :
(a) State Bank Heritage Private Institute
(b) SBI Handicapped Standards Board
(c) Self Help Promotion Institution
(d) None of the above
Ans: (c) Self Help Promotion
Institution
