Thursday, 8 August 2019

Banking Questions and Answers with Fundamentals to Know. Series -32

1. A bank is a financial institution which acts as an ____________________ between savers and investors or users of funds.
A.      transaction
B.      intermediary
C.      investments
D.      depository
2. Private banks came into existence with the Financial Reforms of 1991-92. State TRUE or FALSE.
A.      True
B.      False
3. Which of these are services offered by a bank?
A.      savings
B.      remittance
C.      credit
D.      insurance
E.       all of these
4. The share of ownership/capital by Central Government in Regional Rural Banks is _______
A.      60%
B.      40%
C.      50%
D.      20%
5. After the merger of RRBs, the number has been reduced from 196 to ______ as on 31st March, 2017.
A.      76
B.      96
C.      56
D.      46
6. What is the upper limit of the amount per customer to be accepted by Payment Banks?
A.      Rs 10 lacs
B.      Rs 1 lac
C.      Rs 5 lacs
D.      Rs 3 lacs
7. Apart from Bandhan Bank, which bank was given license by RBI in 2014?
8. In the case of Small Finance Banks, at least 50% of their loans must be below Rs ______lakhs 
A.      50
B.      75
C.      25
D.      10
9. Mobile Banking through mobile wallet was launched in ___________.
A.      2010
B.      2012
C.      2014
D.      2016
10. Banks lend in the form of ____________
A.      cash credits
B.      overdrafts
C.      demand loans
D.      term loans
E.       all of these
11. Loans and advances which remains overdue for more than a stipulated period is known as _________
A.      NPA
B.      TPA
C.      UPA
D.      MPA
12. The Reserve Bank of India was established on April 1, ______________ as the central bank of the country.
A.      1955     
B.      1945
C.      1935
D.      1925
13. When did NABARD come into existence?
A.      12 july, 1982
B.      14 july, 1984
C.      16 july, 1986
D.      18 july, 1988
14. RTGS and NEFT systems come under ____________________
A.      remittance of funds
B.      financial inclusion
C.      universal banking
D.      operational freedom
15. IDBI is a _________________
A.      private bank
B.      nationalised bank
C.      public sector bank
D.      development bank
1. In saving account deposits, interest is paid on _______________balance in the account.
A.      maximum
B.      average
C.      daily             D.last balance at the end of the month
2. Current account deposits are not entitled to _______________
A.      cheque book above 100 leaves
B.      monthly statements
C.      cash payments
D.      interest
3. Demand deposits are those which can be withdrawn;
A.      on request
B.      on sanction by manager
C.      on demand
D.      on persuasion
4. Interest on savings bank can be paid;
A.      on any interval as per bank's own approved policy
B.      on half-yearly intervals only
C.      on yearly intervals only
D.      on quarterly intervals only
5. A Recurring Deposit account requires the customer to ______________
A.      deposit any amount at specified intervals for a specified period
B.      deposit a fixed the amount at will for a specified period
C.      deposit a fixed the amount at specified intervals for any period
D.      deposit a fixed the amount at specified intervals for a specified period
6. Fixed deposits cannot be ________________
A.      renewed for a further period on the maturity date
B.      transferred to third parties
C.      pre-paid before the maturity date
D.      cannot be pledged to the bank as security
7. A bank's Fixed Deposits is characterized by ______________
A.      interest rate as agreed with the customer at the time of the deposit
B.      the fixed period of the deposit
C.      periodical payment of the interest
D.      all of the above
8. Savings account contain some restrictions regarding _________________
A.      number of withdrawals per quarter
B.      amount of withdrawals per transaction in ATM
C.      number of deposits into the account per quarter
D.      both (a) and (b) above
9. "SWIFT" is a term associated with ___________( Society for Worldwide Interbank Financial Telecommunication )
A.      electronic fund transfer
B.      banker's drafts
C.      remittance of funds
D.      deposits
10. Banks should ensure that demand drafts of Rs ____________ and above are issued invariably with account payee crossing.
A.      10000/-
B.      50000/-
C.      20000/-

D.      30000/-

Bold option is correct answer.

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