Banking Awareness

Topics: Monetary policy, Bank, Central bank Pages: 38 (9858 words) Published: August 20, 2013
BANKING AWARENESS
1.  On the recommendation of which committee was NABARD established? (a)    Shivraman    (b) Rangarajan
(c)    Malegam      (d) Vijay Kelkar

2.  ‘Swabhiman’, the financial inclusion scheme, comes under the purview of which ministry? (a) Ministry of Commerce  (b) Ministry of Home Affairs
(c) Ministry of Finance      (d) Ministry of External Affairs

3.  RBI was established on ___________.
(a) April 1, 1925     (b) April 1, 1935
(c) April 1, 1945     (d) April 1, 1955   

4.  The one-rupee note bears the signature of____________.
(a) RBI Governor           (b) Deputy Governor
(c) Finance Secretary     (d) Finance Minister

5.  Which among the following does the RBI not decide?
(a) CAR     (b) CRR    (c) Base Rate     (d) Bank Rate

6.  What does ‘T’ in RTGS stand for?
(a) Transaction    (b) Transfer    (c) Tax    (d) Time

7.  In banking, IFSC code stands for_________________.
(a) International Format System Code
(b) Indian Function System Code
(c) International Forex System Code
(d) Indian Financial System Code

8.  If a customer does not get a satisfactory response to his grievance from the bank within _____ days, then he can approach the Banking Ombudsman. (a) 60    (b) 90    (c) 30    (d) 15 

9.  Which of the following organizations is the Mutual Fund Market regulator? (a) AMFI     (b) SEBI    (c) CIBIL    (d) CRISIL

10.   Which of the following statements is incorrect regarding RTGS system? (a) The transactions take place in real time
(b) The system operates on DNS (Deferred Net Settlement) basis (c) The minimum amount that can be remitted is Rs. 2 lakh
(d) Service charges for RTGS transactions vary from one bank to another

11. Banks have recently launched a service through which money can be transferred using mobile phones. This service is known as (a) MMTF (Mobile Money Transfer Facility)
(b) MTMT (Mobile To Mobile Transfer)
(c) IMPS (Inter Bank Mobile Payment Service)
(d) IBMPS (Internet Banking Mobile Payment Service)

12. Which among the following is at times mentioned as a kind of Direct Debit Facility? (a) ECS    (b) RTGS    (c) IMPS    (d) UTR  

13. The discounting rate at which RBI borrows government securities from commercial banks is known as (a) Repo Rate        (b) Reverse Repo
(c) Deposit Rate     (d) Base Rate        

14. Which among the following is an instrument of monetary policy used by the RBI? (a) Base Rate    (b) PLR    (c) CRR    (d) BPLR

15.  Which among the following statements is incorrect in the context of IMPS? (a) It’s a mobile-to-mobile fund transfer facility
(b) For this facility we need a GPS-enabled mobile phone
(c) Both the sender and the receiver must have an account in the same bank (d) Both the customers must have an MMID (Mobile Money Identifier Number) number

16. ________is the organization that maintains the borrower’s history in India. (a) CRISIL    (b) CIBIL    (c) CARE    (d) RBI

17.  RBI has directed commercial banks to resolve ATM transaction-related complaints within seven working days. If a commercial bank is unable to do so then it has to pay Rs.________per day as compensation. (a) 50     (b) 100     (c) 200     (d) 225

18. RTGS as well as NEFT uses
(a) UTR Number    (b) MICR    (c) IFSC    (d) DNS

19. Which of the following statement is incorrect about SEBI? (a) SEBI is a capital market regulator
(b) SEBI is the mutual fund regulator
(c) SEBI also regulates the credit rating agencies in India
(d) None of them is wrong

20. What does liquidity mean?
(a) It means how cash is converted into gold
(b) It means how cheaply and quickly an asset is converted into cash (c) It means how cash is converted into SDR (Special Drawing Rights) (d) It means how uncertain the money market conditions are

21. SWIFT is a commonly used acronym in the banking industry. The ‘I’ in SWIFT stands for_____________. (a) Interbank    (b) International   
(c) Intercom     (d) Indian

22. What...
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