Tuesday, 6 August 2019

Banking Questions and Answers with Fundamentals to Know. Series -29

Q. 1 For whom Current The account is not generally opened? *
a) Individuals
b) Illiterate Persons
c) Blind Person
d) None of the above
Q. 2 The relationship between the bank and the hirer of the Locker is that of a Lessor and lessee? *
a) True
b) False
Q. 3 E or S Means *
a) East or South Zone
b) Easy and Swift
c)Either or Survivor
d) None of the above
Q. 4 What is the full name of MUDRA, launched by Govt in April 2015 *
a) Micro Units Development and Refinance Agency Ltd
b) Micro and Small Development Refinance Ltd.
c)Micro Units Department and refinance Agency Ltd
d) Micro Development and Refinance Agency Ltd
Q. 5 SHG Stands for? *
a) Society Housing Group
b) Society Household Group
c) Self house Group
d) Self Help Group
Q. 6 An Individual who are above..... years of age being a sound mind can open a deposit account *
a) 16
b) 18
c) 21
d) 25
Q. 7 If the Balance in Savings Bank Account falls below the minimum level stipulated by Banks, banks levy penalty. *
a) True
b) False
Q. 8 In NEFT the settlement of transactions is done in batches. How many batches are held on weekdays and Saturdays? *
a) 6 Batches on weekdays and 3 batches on Saturdays.
b) From July 10th, 2017 settlement of funds transfer requests in NEFT is done on a half-yearly basis. There are twenty-three half-hourly settlement batches run from 8 am to 7 pm on all working days of the week (except 2 & 4 Saturday)
c) 5 batches on weekdays and 2 batches on Saturdays.
d) 6 batches on weekdays and 4 batches on Saturdays
Q. 9 What is validity period of cheque? *
a) 4 Months from date of issue
b) 3 Months from date of issue
c) 1 Month from the date of issue
d) Unlimited
Q. 10 Which of The following is not True about. Credit Cards? *
a) Different types of Credit Cards are offered by different Banks
b) Card limits vary with Individuals
c) Free Credit Period is not allowed and payment is instantaneous.
d) Allows purchases at one point and payment to be made subsequently.
Q 11 What is the Amount of Overdraft facility sanctioned under PMJDY is classified as MUDRA loans under PMMY? *
a) 5000/-
b) 10000/-
c) 15000/-
Q. 12 What The relationship is created when the bank collects a cheque in the clearing ? *
a) Clearing Member and Principle
b) Agent and Principle
c) Collecting bank and holder
d) None of Above
Q. 13 The single most important skill financial counselors have in their technical expertise *
a) True
b) False
Q. 14 PPF means ... *
a) Pension Planning Funds
b) Person having pension facilities
c) Public Provident Fund
d) permanent Practitioners Forum
Q. 15 The banker customer relationship comes to an end on the happening of the following event. *
a) Death/ Insolvency / Lunacy of the depositor
b) Arrest/imprisonment of the depositor.
c) Migration of the Depositor to a foreign country.
d) All the Above.
Q. 16 POS machine is a small device installed at almost business centers to facilitate cashlessly purchase to their customers. POS stands for ...... *
a) Payment or Sale
b) Point of Sale
c) Point or Settlement
d) Purchase and Sale
Q. 17 The upper value limit of an individual national electronic funds transfer (NEFT) transaction is *
a) Rs. 20,000
b) Rs. 50,000
c) Rs. 1 Lakh
d) No Upper Limit.
Q. 18 In a deposit account the relationship between bank and customers. *
a) Ballee and Ballor
b) Debtor and Creditor
c) Principle and agent
d) Trustee and Beneficiary
Q. 19 An Amount of 40,000 for 3 years fetches a simple interest(SI) of 11% p.a. The SI at the end of 3 years is.. *
a) 8,800
b) 13,200
c) 14,400
d) 10,200
Q. 20 What is the tagline of Pradhan Mantri Jan Dhan Yojna ( PMJDY)? *
a) Bank Khata he Bhagya Laxmi
b) Bank Khata Khole Bhagya ki Dewar Khole
c) Mera Khata Bhagya Vidhata
d) Mera Khata Meri Jama Punji
Q. 21 Which of the following is not true regarding Micro- ATMs? *
a) Micro- ATMs are biometric authentication enables the handheld device
b) In Order to make the ATMs viable rural / semi-urban centers, low-cost Micro ATM would be deployed at each of the bank Mitra location.
c) This device is not based on a mobile phone connection
d) This would enable a person to instantly deposit or withdraw funds regardless of the bank associated with a particular bankMitra/business corresponded
Q 22 Account Payee cheques can be paid *
a) At cash counter of the bank
b) At ATM
c) By deposit in Bank account
d) None of the above
Q. 23 The game for coverage for under the scheme of the insurance cover under PMJDY is.*
a) The age group of 21 to 59
b) The age group of 18 to 59
c) The age group of 21 to 60
d) The age group of 18 to 58
Q. 24 Crossing is of two types, General or special. General Crossing is governed under sec....of N.I Act and Special Crossing is governed under section... of N.I Act. *
a) 123, 124
b) 124, 125
c) 125, 126
d) 127, 128
Q. 25 Which of the following can benefit from SARFAESI 2002? *
a) Bank
b) Financial Institutions
c) Both the above.
d) None of the above.

Bold option is correct answer.

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