Series-41 , Banking Questions and Answers with Fundamentals to Know.

BC / BF EXAM (IIBF) Series -41 (PROBABLE QUESTIONS AND ANSWERS)

Chapter-20; Payments Bank

Read the questions or statements carefully and choose the correct options.

1. How much amount of deposit can a Payments Bank accept?

A.      Rs 100000

B.      Rs 500000

C.      Rs 300000

D.      Rs 200000

2. Payments Bank cannot issue Credit Cards or Loans.

A.      True

B.      False

3. Payments Bank can take NRI deposits.

A.      True

B.      False

4. Who are the targeted clients of Payments Bank?

A.      small business owners

B.      migrant labor work force

C.      unorganized sector employees

D.      all of the above

5. A Payments Bank must have ________% of branches in rural areas.

INTERNATIONAL

A.      50

B.      25

C.      10

D.      75

6. The Section of Banking Regulation Act which controls Banking in India is ______________

A.      Section 31

B.      Section 15

C.      Section 22

D.      Section 27

7. The rate at which our banks borrow money from RBI in case they have any shortage of fund is called ________________

A.      CRR rate

B.      Repo rate

C.      Reverse Repo rate

D.      SLR rate

8. Payments Bank can invest money in Government securities and fixed deposits.

A.      True

B.      False

9. All transactions in Payments Bank can be done in offline mode.

A.      True

B.      False

10. _______________ is the interest rate charged by banks to their most creditworthy customers. It is usually adjusted at the same time and in correlation to the adjustments of the Fed Funds Rate.

A.      SLR

B.      PLR

C.      CRR

D.      RRR

Chapter-21; Digital Banking Products;

Read the questions or statements carefully and choose the correct options.

1. By using QSAM service one can check their aadhar seeding status with their bank account by dialing

A.      *99#

B.      *999*9#

C.      *99*99#

D.      *999#

2. IMPS stands for_________________________

A.      immediate payment service

B.      intermediate payment service

C.      interbank payment service

D.      none of the above

3. Under Pradhan Mantri Jan Dhan Yojana (PMJDY), the account holder is provided with a Rupay Debit Card with inbuilt accident insurance cover up to Rs____________________

A.      5 lakhs

B.      4 lakhs

C.      2 lakhs

D.      1 lakhs

4. LPG subsidy and MNREGA wages are disbursed by making use of ________________

A.      NACH Debit

B.      Aadhar payment bridge system(APBS)

C.      Aadhar enabled payment system(AEPS)

D.      National Financial Switch (NFS)

5. A the bank-led model which allows online financial inclusion transaction at Micro-ATM through the Business correspondent of any bank using the Aadhaar authentication is called ____________.

A.      NACH Debit

B.      Aadhar payment bridge system(APBS)

C.      Aadhar enabled payment system(AEPS)

D.      National Financial Switch (NFS)

6. Balance inquiry is a kind of ____________

A.      financial transaction

B.      non-financial transaction

C.      technical transaction

D.      none of these

7. ATMs established by non banking entities are called __________________

A.      green label ATMs

B.      white label ATMs

C.      blue label ATMs

D.      brown label ATMs

8. Which of the below facilities can be availed at an ATM machine?

A.      cash withdrawal

B.      update mobile number

C.      recharge mobile

D.      pay utility bills

E.       all of the above

9. Cards, that store data in integrated circuits are also called ______________

A.      smart cards

B.      magstripe cards

C.      both

D.      none

10. Which amongst the below mentioned forms of banking come under digital banking?

A.      branch banking

B.      mobile banking

C.      cheque deposit

D.      SMS banking

The bold option is the correct answer.