1.What is the full form of CRR as used in banking sector?
a) Crucial Reserve Rate
b) Cash Reserve Ratio
c) Current Reserve Ratio
d) Core Current Ratio
2.What is the full form of LAF as used in the banking world very frequently ?
a) Liquid Advances Finance
b) Liquidity Adjustment Facility
c) Legal Adjournment Formality
d) Local Advance Finance
e) Late Arrival of Finance
3.Where is the headquarters of International Monetary Fund?
e) Washington DC
4. Many Regional Rural Banks are given licence to open branches in small cities and towns. These licences are given by:
a) Cabinet Committee on Economic Affairs
b) Reserve Bank Of India
d) Indian Banks’ Association
e) None of these
5. Which of the following organisations/agencies is not associated with the world of Banking and Finance?
6. Banks recover term loan from the parties in EMIs. What does the letter ‘E’ represent in the term?
7. What is the Bank Rate at Present?
e) None of these
8. Which of the following is not a scheduled commercial bank?
e) Kotak Mahindra Bank
9. Which of the following certainly is an effort in the direction of Financial Inclusion?
a) Internet Banking
b) Anywhere Banking
c) No-frills Account
d) Foreign Currency Accounts
e) All of these
10. Who amongst the following Padma Bhushan awardees is a famous Banker?
a) Azim H Premji
b) Kapila Vatsyayan
c) Chanda Kochhar
d) Waheeda Rahman
e) Brajesh Mishra
11. Which of the following Acts has specially been launched to facilitate banks in recovery of bad loans?
a) RBI Act
b) Banking Regulation Act
c) Companies Act
d) Income Tax Act
e) SARFAESI Act
12. The financial assistance or loans of Rs. 10,000 by a bank to a very small borrower will be called?
a) Business Finance
b) Govt. Finance
c) Micro Finance
d) Small Finance
e) KYC finance
13. Who amongst the following cannot work as a Business Correspondent as given in the scheme launched by the banks ?
a) Kirana Store
b) Post Office
c) Self Help Group
d) A Bank Officer
e) Co-operative Society
14. Some banks are financing big projects like construction of roads, bridges etc. Finacing such projects means banks are helping exactly in:
a) Infrastructural Development
b) Project Management
c) Developing Core Sector Industry
d) Financial Inclusion
e) All of these
15. As we know, a lot of new concepts are being used in the field of banking these days, which of the following is NOT one such concept/product directly associated with banks ?
b) SMS alert
c) Demat Account
d) ATM/Debit card
e) Number Portability
16. Which of the following is NOT a Nationalised bank?
a) Union Bank of India
b) Central Bank of India
c) YES Bank
d) Syndicate Bank
e) Indian Bank
17. Interest payable on savings bank accounts is?
a) De-regulated by RBI
b) Regulated by State Governments
c) Regulated by Central Govt
d) Regulated by RBI
e) Regulated by Finance Minister
18. The usual deposit accounts of banks are?
a) Current accounts, electricity accounts and insurance premium accounts.
b) Current accounts, post office savings, bank accounts and term deposit accounts.
c) Loan accounts, savings bank accounts and term deposit accounts.
d) Current accounts, savings bank accounts and term deposit accounts.
e) Current bill accounts and term deposit accounts.
19. Fixed deposits and recurring deposits are?
a) Repayable after an agreed period
b) Repayable on demand
c) Not repayable
d) Repayable after death of depositors
e) Repayable on demand or after an agreed period as per bank’s choice
20. Accounts are allowed to be operated by cheques in respect of?
a) Both savings bank accounts and fixed deposit accounts.
b) Savings bank accounts and current accounts.
c) Both savings bank accounts and loan accounts.
d) Both savings bank accounts and cash accounts only.
e) Both current accounts and fixed deposit accounts.
21. Which of the following is correct statement?
a) No interest is paid on current deposit accounts.
b) Interest is paid on current accounts at the same rate as term deposit accounts.
c) The rate of interest on current accounts and savings accounts are the same.
d) No interest is paid on any deposit by the bank.
e) Savings deposits are the same as current deposits.
22. Banking services delivered to a customer by means of a computer control system that does not directly involve banks branch is called?
a) Universal banking
b) Virtual banking
c) Narrow banking
d) Brick & Mortal banking
23. Financial inclusion means provision of ?
a) Financial services namely payments, remittances, savings, loans and insurance at affordable cost to persons not yet given the bank
b) Ration at affordable cost to persons not yet given the same
c) House at affordable cost to persons not yet given the same
d) Food at affordable cost to persons not yet given the same
e) Education at affordable cost to persons not yet given the same
24. When a bank returns a cheque unpaid, it is called?
a) Payment of the cheque
b) Drawing of the cheque
c) Canceling of the cheque
d) Dishonour of the cheque
e) Taking of the cheque
25. Who is the Chairman of the committee constituted by RBI to study issues and concerns in the Micro Finance Institutions (MFI) Sector?
a) YH Malegam
b) Dr. KC Chakraborty
c) C. Rangrajan
d) M. Damodaran
e) Usha Thorat
26. Which of the following types of accounts are known as ‘Demat Accounts’?
a) Accounts which are Zero Balance
b) Accounts which are opened to facilitate repayment of a loan taken from the bank. No other business can be conducted from there
c) Accounts in which shares of various companies are traded in electronic form
d) Accounts which are operated through internet banking facility
e) None of the above
27. NEFT means?
a) National Electronic Funds Transfer
b) Negotiated Efficient Fund Transfer system
c) National Efficient Fund Transfer solution
d) Non Effective Fund Transfer system
e) Negotiated Electronic Foreign Transfer system.
28. Distribution of insurance products and insurance policies by banks as corporate agents is known as?
a) General insurance
b) Non life insurance
d) Insurance Banking
e) Deposit Insurance
29. In respect of partnership business, LLP stands for:
a) Local Labour Promotion
b) Low Labour Projects
c) Limited Loan Partnership
d) Longer Liability Partnership
e) Limited Liability Partnership
30. What is a stale cheque?
a) A cheque issued without drawer’s signature.
b) A cheque with only signature of the drawer.
c) A cheque which has completed 3 months from the date of its issue.
d) Any one of the above.
31. Interest on savings 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
32. Largest shareholder (in percentage shareholding) of a Nationalized bank is ?
d) Govt of India