Friday, 16 August 2019

Banking Questions and Answers with Fundamentals to Know. Series-37


Chapter-11; Asset Classification and Methods of Recovery
1. DRTs can entertain cases for recovery for Rs ______.
A.      20 lakhs and above
B.      20 lakhs only
C.      50 lakhs only
D.      100 lakhs only
2. Loans up to Rs _______ can be settled through Lok Adalats.
A.      2 lakh
B.      5 lakh
C.      10 lakh
D.      20 lakh
3. SARFAESI Act is applicable for loans outstanding up to Rs ___________
A.      10 lakh
B.      5 lakh
C.      2 lakh
D.      1 lakh
4. A substandard asset is one which has remained NPA for a period less than or equal to ___________.
A.      12 months
B.      6 months
C.      90 days
D.      180 days
5. Charging of interest at monthly rests would/would not change overdue under NPA.
A.      would make overdue of 90days from monthly interest debiting
B.      would make overdue 90days from the previous quarter ending
C.      both of the above
D.      none of the above
6. When will a loan be NPA?
A.      interest and/or loan installments overdue for more than 90 days
B.      A/c is out of order for more than 90 days in case of overdraft/cash credit
C.      Bill remains overdue for more than 90 days in BP/BD
D.      All of the above
7. A "Standard Asset" of a bank is defined as an asset which is ______________
A.      not a non-performing asset (NPA)
B.      a doubtful asset
C.      a loan asset
D.      none of these
8. A loan or advance of a bank is defined as "Doubtful" when it has remained in Sub-standard category for a period of at least:
A.      6 months
B.      12 months
C.      3 months
D.      18 months
9. A loan or advance of a bank is defined as "Non-Performing Asset"(NPA) when it remains overdue or out of order for a period of:
A.      90 days
B.      less than 90 days
C.      more than 90 days
D.      more than 180 days
10. Loans and advances of banks appear in their balance sheets on the side of :
A.      liabilities
B.      assets
C.      income
D.      expenses
Chapter-12; Grievance Redressal Mechanism in Mechanism in Banks and Banking Ombudsman
1. ____________is responsible for resolution of grievances at the branch level.
A.      BC Agent
B.      Designated Counter Clerk
C.      Sub Staff
D.      Branch Manager
2. Parties can resolve their differences peacefully through the _______________
A.      Banking Ombudsman
B.      Grievance Redressal procedure
C.      Consumer Courts
D.      Civil Courts
3. Customer's Day is observed on _____________.
A.      5th of every month
B.      10th of every month
C.      15th of every month
D.      20th of every month
4. The Bank's Model Policy on Grievance Redressal is based on certain principals. Which of these is NOT correct?
A.      Customers will be fully informed of avenues to escalate their complaints within the organization.
B.      Complaints raised by customers will be dealt with courtesy and in time
C.      Customers will be treated fairly at all times
D.      Bank will treat all complaints efficiently and fairly as they can damage the bank's reputation and business.
5. If not satisfied by the decision/award, either bank or customer can appeal to the Deputy Governor, RBI, and the Appellate Authority within_________ days from the date of receipt of the Award.
A.      45
B.      30
C.      15
D.      10
6. The Banking ____________ Scheme is an effective alternative for quick, impartial, expert and cost-effective method for settling disputes between the banker and the customer.
A.      Redressal
B.      Ombudsman
C.      Protection
D.      Civil
7. Banking Ombudsman should settle the dispute within ______ months from the date of receipt of the complaint.
A.      3
B.      2
C.      1
D.      4
8. A full-fledged Customer Service Section is functioning at the Head Office of most banks, overseen by General Manager.
A.      True
B.      False
9. Providing prompt and efficient service is essential for opening a new account with large funds from customers.
A.      True           B.False
10. What is the amount of AWARD money if the Banking Ombudsman fails to solve customer complaints within 2 months?
A.      15 lakhs
B.      20 lakhs
C.      10 lakhs
30 lakhs

The bold option is the correct answer.

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