Banking Awareness MCQ

Test your knowledge with important Banking Awareness MCQ and their applications. These MCQs are beneficial for competitive exams too. Explore 30+ more Banking Awareness MCQs on Bissoy. Bissoy App

• "Sub Prime lending" is a term applied to the loans made to
  ক

  Those borrows who do not have a good credit history

  খ

  Those who wish top take loan against the mortgage of tangible assets

  গ

  Those who have a good credit history and are know to bank since 10 years

  ঘ

  Those borrowers who are most preferred customers of the bank
• The SecuritisationAnd Reconstruction of Financial Assets and Enforcement of Security Interests Act (SARFAESI Act) at present, is not applicable to
  ক

  Public Sector Banks

  খ

  Financial Institutes of the Govt.

  গ

  Private Banks

  ঘ

  Non Banking Financial Companies
• Enumerate the main functions of a banker as per banking regulations act. 1949?
  ক

  Accepting deposit of money

  খ

  Advancing of loans

  গ

  Issuance of letters of credits

  ঘ

  Above all
• The commercial banking system in India comprises of
  ক

  Scheduled and non-scheduled banks

  খ

  Nationalised banks and private sector banks

  গ

  Regional rural banks, cooperative banks

  ঘ

  Land development banks
• How many banks in India have joined the international telecommunication network of SWIFT?
  ক

  249

  খ

  46

  গ

  28

  ঘ

  19
• The society for world-wide inter-bank financial telecommunication (SWIFT)
  ক

  was registered as a company in Belguim

  খ

  is a bank-owned non-profit co-operative society

  গ

  became operational in May 1977

  ঘ

  None of these
• Reserve bank of India, in regard to RTGS, has decided that
  ক

  There would be accessible to all retail customers.

  খ

  There would be no floor ceiling for routing transactions through RTGS

  গ

  Settlement of transactions of the clearing corporations of India and the stock market would be conducted through RTGS.

  ঘ

  All of the above
• RTGS stands for
  ক

  Real Time Gross Settlement

  খ

  Real type General scheme

  গ

  Real Type gross settlement system

  ঘ

  Real time Gross system
• Full form of ERNET is
  ক

  England’s Remote Network

  খ

  Engineering and Research Network

  গ

  Educational and Research Network

  ঘ

  External and Regular Network
• Insurance Regulatory and Development Authority
  ক

  is a society registered under the societies Registration Act

  খ

  is a company registered under the Companies Act. 1956

  গ

  is an NGO

  ঘ

  was constituted by an act of parliament under the IRDA Act. 1999
• Insurance business in India is regulated by
  ক

  Life Insurance Corporation of India

  খ

  Reserve Bank of India

  গ

  Insurance Regulatory and Development Authority (IRDA)

  ঘ

  SEBI
• Bancassurance means
  ক

  Distribution of Insurance policies both life and non-life, by banks as corporate agents through their branches.

  খ

  Assurance given by banks to its customers.

  গ

  Life policy issued to the bank on the life of their staff

  ঘ

  Assurance given to bank by general insurance companies for insuring assets of the banks.
• Banks do not purchase/ discount
  ক

  Documentary Bills

  খ

  Clean Bills

  গ

  Accommodation Bills

  ঘ

  Usance Bills
• ________ is India’s largest Wide Area Network.
  ক

  RBINET

  খ

  NICNET

  গ

  INET

  ঘ

  Bank Net
• Digital signature are
  ক

  legally valid signatures as per the information technology act. 2000 and acceptable in Indian courts at par with paper signatures

  খ

  required for authentication of e-mail and SFMS

  গ

  required for authentication of settlement applications of clearing coupan of India Ltd.

  ঘ

  all of the above
• What do you mean by home banking?
  ক

  Home banking is an extended version of tele banking.

  খ

  in home banking the customer is able to access his personal account from his home for availing a variety of services which is made available.

  গ

  home banking is availed through the customer’s personal computer attached to a telephone line and modem

  ঘ

  All of the above
• What are the various facilities offered by banks through Tele banking?
  ক

  Balance enquiries and Transfer of funds

  খ

  Enquiries about collection or specific credits/debits transaction

  গ

  Request for statement of accounts

  ঘ

  All of the above
• CBS stands for
  ক

  Core Banking solution

  খ

  Centralized based system

  গ

  Computer based system

  ঘ

  None of these
• In banking services, which are the major characteristics affecting the channel selection
  ক

  Intangibility

  খ

  Inseparability

  গ

  Perish ability

  ঘ

  All of the above
• Which of the following are intermediaries are not working for Banks?
  ক

  Direct sales agents

  খ

  Automatic dealers

  গ

  Whole sellers

  ঘ

  Merchant establishments
• What is international banking?
  ক

  Providing of variety of financial services to the customers who are living outside their home country

  খ

  Providing of financial services to the customers who are living in home country

  গ

  Banking between two countries

  ঘ

  All of the above
• Which of the following was set up as a exclusive data communication network for banks in terms of recommendations of committee on communication network of banks?
  ক

  BANKNET

  খ

  SWIFT

  গ

  MICR

  ঘ

  None of these
• Tele banking is attracting the fancy of urban customer due to
  ক

  Non-availability of time to visit bank branches

  খ

  Transport bottlenecks

  গ

  Traffic Jams

  ঘ

  All of the above
• In India, which among the following is/are a part of Legal Tender Money?
  ক

  Both coins and currency notes

  খ

  Both coins and bank drafts

  গ

  Both currency notes and SDRs

  ঘ

  Only currency notes issued by RBI
• Any note, which is wholly or partially, obliterated, shrunk, washed, altered or indecipherable is a/an
  ক

  Mutilated note

  খ

  Imperfect note

  গ

  Soiled note

  ঘ

  Mismatched note
• The one-rupee note bears the signature of ____________.
  ক

  RBI Governor

  খ

  Deputy Governor

  গ

  Finance Secretary

  ঘ

  Finance Minister
• At present, the RBI issue notes in the denominations of Rs.
  ক

  1, 2, 5, 10, 20, 50, 100 and 500

  খ

  1, 2, 5, 10, 20, 50, 500 and 1000

  গ

  2, 5, 10, 20, 50, 100, 500 and 1000

  ঘ

  2, 5, 10, 20, 50, 100, 1000 and 10000
• Under which Section of the Reserve Bank of India Act, the Reserve Bank has the sole right of note issue?
  ক

  20

  খ

  22

  গ

  25

  ঘ

  28
• For issuing notes, RBI has required to hold the minimum reserve of Rs. 200 crore of which not lesss than Rs. ______ crore to be hold in gold.
  ক

  85

  খ

  100

  গ

  115

  ঘ

  125
• Which of the following statements is correct about soiled/mutilated note?
  ক

  All banks are authorized to accept soiled notes across their counters and pay the exchange vale

  খ

  All public senor bank branches and currency chest branches of private sector banks are authorised to adjudicate and pay value in respect of mutilated notes

  গ

  The RBI has also authorised all Commercial Bank branches to treat certain notes in ‘two pieces’ as soiled notes and pay exchange value

  ঘ

  All of the above