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BANKING & FINANCIAL OBJECTIVE FAQ

RBI/SBI/IBPS/RRB- PO & Assistant.

FAQ BANKING 25

PART I
YASHSHREE COMPETITION ZONE

BY- SUSHANT BHAGAT

www.yashshree.net

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BANKING TERMS
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/credit rating
agency 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?

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BANKING TERMS
(a) Base Rate (b) PLR (c) CRR (d) BPLR
15. Which among the following statements is incorrect in the context of
IMPS?
(a) Its 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 borrowers 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 does the term Open Market Operations refer to?
(a) Selling of equities in the open market
(b) Selling of commodities in the open
market
(c) Buying and selling of government securities in the open market
(d) Buying and selling of products in the wholesale market
23. Under which act does RBI issue directives to banks?
(a) PMLA Act, 2002
(b) RBI Act, 1934 (c) DICGC Act, 1961 (d) Banking Regulation
Act, 1949
24. Which committee recommended the change in the base year of the
Wholesale Price Index?
(a) Narsimhan committee (b) Vijay Kelkar committee (c) Srikrishna committee
(d)
Abhijit Sen committee
25. ____________is the base year of the New Consumer Price Index Series?
(a) 2009 (b) 2008 (c) 2006 (d) 2010
26. __________________isnt a method of measurement of National

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BANKING TERMS
Income?
(a) Value-added method
(b) Income method (c) Investment method
(d)
Expenditure method
27. Fastest mode of transfer of money is:?
(a) INB
(b) IMPS
(c) NEFT (d) RTGS
28. In India, the commercial banks are required to provide (ANBC (Adjusted
Net Bank Credit) to priority sector) & to maintain CASA A.c (under RBI guide
line) is _ ----%?
(a) 15
(b) 25
(c) 35
(d) 40
29. What does FSDC stand for?
(a) Financial Security and Development Council (b) Financial Stability and
Development Council
(c) Fiscal Security and Development Council
(d) Fiscal Stability and Development
Council
30. ___________________has was declared the first total banking state in
India, successfully implementing the total financial inclusion thereby
ensuring banking facility to all households?
(a) Maharashtra
(b) Kerala (Palakkad) (c) Himachal Pradesh
(d)
Uttarakhand
31. Since April 1, 2012__________has become the validity of cheques and
bank drafts.?
(a) 2 months (b) 3 months (c) 4 months (d) 6 months
32. On what basis is Ad Valorem Tax (is a tax based on the ?---------- of real
estate or personal property )levied?
(a) Volume (b) Value (c) Imports (d) Exports
33. RBI is coming up with the concept of____________to protect banks
against possible harmful effects arising from the operations of their nonbanking financial subsidiaries?
(a) Financial Holding Company
(b) Bank Holding Company
(c)
Bureau of Credit Union
(d) Financial Institutions Audit Cell
34. RBI has introduced Marginal Standing Facility with the objective of?
(a) Controlling Inflation
(b) Containing instability in long term inter-bank rates
(c) Containing instability in the overnight inter-bank rates (d) All of the above
35. _____________are the beneficiaries of the Reverse Mortgage Scheme?
(a) Government employees
(b) Senior citizens (c) Unemployed persons (d)
Persons of BPL category
36. RBI was nationalized in the year?
(a) 1949 (b) 1952 (c) 1955 (d) 1964
37. Which of the following is/are associated with the fiscal policy? 1.
Marginal Standing Facility 2. Devaluation of Currency 3. Market Stabilization
Scheme?
(a) 1 & 2
(b) Only 3
(c) 2 & 3
(d) Only 2

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BANKING TERMS
38. Parliament of India enacted for regulation and development
of securities market in India.
(a) 1988
(b) 1990
(c) 1992
(D) 1995
39. National income of India is estimated by?
(a) NCAER
(b) Ministry of Statistics (c) Central Statistical Office
(d) Ministry
of Finance
40. What is understood by Fiduciary Issue of currency?
(a) The issue of currency notes without keeping gold or silver as deposit
(b) The issue of currency notes keeping gold or silver as deposit
(c) The issue of currency notes with partial gold or silver deposits
(d) The issue of currency notes with comparative gold or silver deposits
41. _____________is the percentage of total deposits of a bank which it has
to keep with itself in the form of liquid assets?
(a) Statutory Liquidity Ratio (SLR) (b) Cash Reserve Ratio (CRR) (c) Statutory Reserve
Ratio
(d) Cash Ratio
42. The exchange rate in India is dependent upon: 1. Government policy 2.
Demand-supply forces 3. Monetary policy objectives?
(a) Only 2
(b) 2 & 3
(c) 1 & 2
(d) 1, 2 & 3
43. Collateralized Borrowing and Lending Obligation (CBLO) is a/an ?
(a) Money Market Instrument
(b) Instrument of Monetary Policy
(c) Type of Risk
Cover
(d) Stock Market Instrument
44. Often, we read in newspapers that the RBI has changed the Repo rate
and the Reverse Repo rate by a few basis points. What is a basis point?
(a) Ten % of one hundredth point (b) One hundredth of 1% (c) One tenth of 1%
(d) Ten % of 100
45. Banks generally dont pay interest on money deposited in which of the
following accounts?
(a) Savings account
(b) Current account
(c) Fixed deposit account (d)
None of these
46. Fiat Money is defined as the money which is ?
(a) Accepted internationally (b) Accepted temporarily in lieu of gold
(c) Issued by
keeping gold or silver as deposit
(d) declared as money by the government
47. Which of the following Rates Decided by Bank Individually?
(a) Bank Rate
(b) Base Rate
(c) PLR
(d) Interest on TDR E. more than
one
48. For obtaining which among the following does a customer not require a
bank account?
(a) A loan
(b) A cheque
(c) A bankers draft (d) A credit card
49. RBI isnt expected to perform the role of?
(a) Acting as a clearing house (b) Working as a banker to the government (c)
Managing forex

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BANKING TERMS
(d) Accepting deposits from general public
50. Prior to RBI which of the following Bank was known as Regulator of
Money Market?
(a) Bank of Bengal (B) Imperial Bank (C) Audh Commercial Bank
D) None
51. A bank draft can be defined as a/an?
(a) Letter from commercial bank
(b) Cheque drawn on the bank itself (c) Direction
to a banker to collect a customers debt
(d) Instruction to dishonour a stop
payment
52. When RBI sells government securities, its result is that?
(a) The liquidity in the banking system increases
(b) The liquidity in the banking
system remains unchanged (c) The liquidity in the banking system gets diminished
(d) None of the above
53. It has been made mandatory for NBFCs to get themselves registered with
before July 8, 1997?
(a) RBI
(b) SEBI
(c) Ministry of Finance
(d) CBDT
54. Which of the following is not an instrument in the hands of the RBI to
check inflation in our country?
(a) Open Market Operations (OMO) (b) Special Drawing Rights (SDR) (c) Bank Rate
(BR)
(d) Cash Reserve Ratio (CRR)
55. In India, which among the following is/are a part of Legal Tender
Money?
(a) Both coins and currency notes (b) Both coins and bank drafts (c) Both currency
notes and SDRs
(d) Only currency notes issued by RBI
56. __________has become the first state in India to launch RBIs epayment system for commercial tax payers?
(a) Goa
(b) Kerala
(c) Karnataka (d) Maharashtra
57. In which among the following types occurs the Interest Rate Risk?
(a) Credit risk
(b) Market risk
(c) Operational risk (d) All the above
58. DICGC Was established in which year?
(a) 1961
(b) 1971
(c) 1981
(d) 1991
59. Which of the following organization was established with purpose of
providing insurance of deposits and guaranteeing of credit facilities?
(a) Public sec Bank (b) Nabard Bank (c) IRDA
(d) DICGC
60. ____________is an agreement under which an issuing bank at the
request of the importer undertakes to make payment to the exporter against
certain specified documents?
(a) Bill of exchange (b) Letter of exchange (c) Letter of credit (d) Bill of entry
61. ____________is the duty applied by a government to control the exports

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BANKING TERMS
of an article of trade, so that the article of trade can be used by the local
markets rather than in foreign countries?
(a) Customs duty
(b) Excise duty
(c) Anti-dumping duty
(d) Dumping
duty
62. DICGC insures all bank deposits, such as saving, fixed, current, recurring
deposits for up to the limit of Rs?
(a) 50000
(b) 1,00,000
(c) 10,00,000
(d) 10,000
63. Which among the following is not incorrect?
(a) Money market provides long term source of finance
(b) Recession in the industrial sector in India is normally due to a fall in exports
(c) Ways and means advances given by RBI are nowhere related to the states revenue
(d) Exchange rate is fixed by RBI
64. We have read in the newspapers that the Government of India has signed
a DTAA to broaden the scope of article of exchange of information to include
exchange of banking information. What does DTAA stand for?
(a) Double taxation article agreement
(b) Double taxation avoidance agreement
(c) Double taxation avoidance arrangements (d) Dual tax agreement arrangement
65. Which of the statements mentioned below is/are correct?
1. T-bills are issued by the Government of India on behalf of the RBI
2. T-bills are short-term money market instruments
3. T-bills cannot be purchased by a resident of India
(a) All are correct
(b) 2 & 3 are correct
(c) Only 2 is correct (d) Only 3 is correct
66. Which of the following is an incorrect statement?
(a) Reverse Repurchase operation by RBI is aimed at increasing the liquidity in the
banking system
(b) Special Drawing Rights (SDR) are issued by IMF
(c) Rupee appreciation results in decrease in imports
(d) Increase in the inflation rate leads to decline in real interest rate
67. What purpose does the MICR number, which is present on a cheque,
serve?
(a) It is used to identify the genuineness of the cheque
(b) It is used to identify the bank branch
(c) It is nothing but a type of cheque number
(d) Both (a) and (b)
68. In TRIPS, what does I stand for?

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BANKING TERMS
(a) Intellectual
(b) Information (c) Indian
(d) Infra
69. Insurance companies use the bank sales channels to sell their products.
Which of the following terms describes this selling process?
(a) Scheduled banking
(b) Scheduled Insurance (c) Bankinsuring
(d)
Bancassurance
70. Which of the following acts is useful in controlling HAWALA transactions?
(a) FEMA Act
(b) RBI Act
(c) DICGC Act
(d) Banking Regulation Act
71. What does the term SME stand for?
(a) Small and Micro Enterprises
(b) Small and Medium Enterprises (c) State and
Medium Economy (d) Small and Medium Economy
72. CAMELS is a type of Bank Rating System. In CAMELS, what does C
stand for?
(a) Currency
(b) Compensation (c) Capital Adequacy (d) Capitalisation
73. A Eurobond is ?
(a) A bond released in a currency of the European countries
(b) A bond released in an Indian currency in European nations
(c) A bond released in Euro in our country
(d) A bond released in a currency other than the currency of the country in which it is
issued
74. In banking parlance, NPA stands for?
(a) Non Performing Asset (b) Net Producing Asset (c) Net Performing Asset
(d)
Not Promoting Asset
75. LAF is an indirect instrument of monetary policy, which is used by \RBI to
regulate the liquidity in banking system. LAF stands for?
(a) Liquidity Adjustment Facility (b) Liquidity Account Facility
(c) Liquidity
Allotment Facility
(d) Long Adjustment Facility
76. On the basis of which commission was RBI established?
(a) Hilton Young Commission (b) British Commission (c) Federal Commission (d)
Federation Commission
77. Life insurance and general insurance companies like LIC, ICICI
Prudential, ICICI Lombard, National Insurance etc. are regulated by which
organisation?
(a) RBI
(b) PFRDA
(c) IRDA
(d) IBA
78. Bank rate is defined as the?
(a) Rate of interest charged by commercial banks from borrowers
(b) Rate of interest at which RBI lends money to banks against government securities

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BANKING TERMS
(c) Rate of interest allowed by commercial banks on their deposits
(d) Rate at which RBI purchases or rediscounts bills of exchange of commercial banks
79. An IDR (Indian Depository Receipt) is ?
(a) An instrument of monetary policy used by RBI
(b) A deposit account with a
depository in India
(c) An instrument in the form of depository receipt created by an Indian depository
against underlying equity shares of the issuing company (d) An instrument in the form
of deposit receipt issued by an Indian depository
80. Fiscal deficit is?
(a) total income less government borrowing (b) total payments less total receipts
(c) total payments less capital receipts
(d) total expenditure less total receipts
excluding borrowing
81. _____________are NOT a part of the Scheduled Banking structure in
India?
(a) Money lenders
(b) Public sector banks
(c) Private sector banks
(d)
Regional rural banks
82. MAT is an acronym which stands for?
(a) Maximum Alternate Tax (b) Minimum Alternate Tax (c) Minimum Affordable Tax
(d) Maximum Affordable Tax
83. Often, we read in the newspapers that several Indian companies are
taking the FCCB route to raise capital. What does the term FCCB stand for?
(a) Foreign Currency Convertible Bond
(b) Foreign Convertible Credit Bond
(c)
Financial Consortium and Credit Bureau
(d) Future Credit and Currency Bureau
84. Which of the following interest rates signifies RBIs long term stance of
monetary policy?
(a) Repo Rate
(b) CRR
(c) Bank Rate
(d) Reserve Repo Rate
85. DICGC do not cover which org?
(a) Nationalised Banks
(b) Private Banks (c) Co-Operative Banks
(d) Primary
Credit Society
86. ________________was the main objective of the Fiscal Responsibility
and Budget Management Act, 2003?
(a) Achieving fiscal surplus
(b) Eliminating revenue deficit
(c) Eliminating
fiscal deficit
(d) Stopping money laundering
87. Minimum Age which required for Saving A/c in Banks by RBI is?
(a) 10 Years (b) 18 Years (c) 21 Years (d) 25 Years

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88. Amortizing In Banking is used for?
(a) a loan where the principal of the loan is paid down over the life of the loan. (b) A
loan paid By co Borrower after death of actual Borrower (c) Interest of loan paid by
borrower (d) none
89. In capital markets, the term arbitrage is used in reference to the ?
(a) purchase of securities to cover the sale (b) sale of securities to reduce the loss on
purchase
(c) concomitant sale and purchase of securities to make profits from price
(d)
variation in different markets
90. If RBI wants to limit the capital outflows and control currency
depreciation, which of the following would be the most viable action?
(a) Increase interest rates
(b) Decrease interest rates
(c) Purchase
government bonds (d) Decrease statutory liquidity ratio
91. The buying of shares and bonds of Indian firms by foreign institutional
investors is known as?
(a) FDI
(b) Portfolio investment (c) NRI investment (d) Foreign
indirect investment
92. The Financial Sector Assessment Program (FSAP) is a comprehensive and
in-depth analysis of a countrys financial sector. Which among the following
bodies conducts this programme?
(a) International Monetary Fund
(b) G-20
(c) World Economic Forum
(d) World Bank
93. The ability of commercial banks to increase their deposits by expanding
their loans and advances is known as?
(a) Capital expansion
(b) Credit expansion (c) Credit control
(d) Credit
creation
94. Which among the below mentioned is/are dealt by the Indian Capital
Market?
1. Short-term funds
2. Medium-term funds
3. Long-term funds
(a) 1 & 2
(b) 2 & 3
(c) 1 & 3
(d) 1, 2 & 3
95. Net Interest Income is defined as the?
(a) Interest earned on advances
(b) Interest earned on investments
(c)
Total interest earned on advances on advances and investment
(d) Difference
between interest earned and interest paid
96. KYC (Know Your Customer) norms were implemented in the Indian
banking system in 2002 as per the directive of ?

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BANKING TERMS
(a) SEBI
(b) RBI
(c) IBA
(d) IRDA
97. ___________ has got RBIs nod to issue prepaid card to its clients?
(a) LIC
(b) SIDBI (c) NABARD
(d) GIC
98. If there is an inflationary trend in the economy, what would be the trend
in the pricing of banking services?
(a) Increasing trend (b) Decreasing trend (c) Constant trend (d) There is no
relevance of inflation in pricing of the banking products
99. Which bank known as lender of the last resort?
(a) RBI
(B) NABARD (C) NHB
(d) SIDBI
100. Inflation happens when there are
(a) fewer goods and more buyers (b) more goods and fewer buyers
goods and fewer buyers (d) more goods and more buyers

(c) fewer

101. The largest revenue in India is obtained from ?


(A) Railways(B) Excise Duty(C) Sales Tax(D) Corporation Tax
102. The tax levied by Central Government and collected by State Governmentis ?
(A) Stamp Duty

(B) Excise Duty

(C) Income Tax

(D) Gift Tax

103. The tax levied by Local Governments i.e. Municipal Corporations is ?


(A) Income Tax

(B) Wealth Tax

(C) House Tax

(D) Gift Tax

104. The tax collected by the State Governments and given to local bodies is ?
(A) Income Tax

(B) Wealth Tax

(C) House Tax

(D) Professional Ta

(C) 15 to 30 Days

(D) One Month (E) None

105.. The period for Call Money is?


(A) 10 to 15days

(B) 1 to 14 Days

106. Who regulates the money circulation in India?


(A) State Bank of India (B) Reserve Bank of India

(C) NABARD

(D) Commercial

Banks
107. Which of the following is not an organized sector in India?
(A) Nationalised Banks

(B) Regional Rural Banks

(C) Cooperative Banks (D) Chits

and Money lenders


108. Who will settle the grievances of customers of banks?

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BANKING TERMS
(A) Reserve Bank of India (B) State Bank of India

(C) Local Courts

(D) Ombuds

Men
109. Who introduced the Banking Ombudsmen Scheme?
(A) RBI

(B) SBI

(C) Ministry of Finance

(D NABARD

110. When was OMBUDS MEN SCHEME first introduced?


(A) November 2006 B) October 1981 (C) June 1995 (D) January 1999
111. Which was the firth Bank corporated by the Indians?
(A) Imperial Bank of India (B) State Bank of India (C) Avadh Commercial Bank (D)
Reserve Bank of India
112. When was the Avadh Commercial Bank established?
(A) 1881

(B) 1894

(C) 1898

(D) 1899

113. When was Indian Banking Act come into force?


(A) 1948

(B) 1949

(C) 1950

(D) 1951

114. When was Imperial Bank was Changed as State Bank of India?
(A) January 1st 1935

(B) Feb 26 1947

(C) July 1st 1955

(D) July 1st 1959

115. How many banks were first nationalised?


(A) 10 (B) 12 (C) 14 (D) 16
116. When was the second phase of nationalisation done?
(A) 9th July 1969

B) 10th July 1968

(C) 16th August 1985

(D) 15th April, 1980

117. How many banks were in second phase of nationalisation?


(A) 4 (B) 5 (C) 6 (D) 7
118. Who will act as the banker to the Government of India?
(A) State Bank of India (B) Reserve Bank of India

(C) NABARD (D) Nationalised

Banks
119. Where is the Head Quarter of Reserve Bank of India?
(A) Mumbai (B) Delhi

(C) Kolkotta

(D) Ahmedabad

120. Who was first governor of Reserve Bank of India?


(A) K. A. Narasimham (B) V. K. Malhotra (C) A. K. Vadia (D) A. B. A Smith

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BANKING TERMS
121. When was Lead Bank Scheme introduced?
(A) 1967 (B) 1968 (C) 1969 (D) 1977
122.what is CRR?
a) Cash Reserve Ratio b) Current Ratio Rate

c) Review Report

d) Credit Rating Record


123.. The first development financial institution in India that has got merged
with a bank is?
a) IDBI

b) ICICI c) IDFC d) UTI

e) None of these

124. Which of the following NBFC converted itself into a commercial bank?
a) Tata Finance b) Reliance Capital Trust

c) Birla Mutual

d) Kotak Mahindrae) None of these


125. The rate of which discounting the bills of first class banks is done byRBI
is called?
a) Bank Rate b) Prime Lending Rate

c) Loan Rate

d) Discounting Rate

126. Banking ombudsman has been constituted under which act?


a) Banking Regulation Act b) RBI Act

c) SBI Act

d) COPRA

127. Which was first finance company has been given banking licence by
RBI?
a) Kotak Mahindra b) Ashok Leyland & Finance

c) TVS Finance d) Tata Finance

128. Indian Banks Association (IBA) has a common net working system for
sharing the ATM facilities in Mumbai, which is known as?
a) ATM Network b) Shared Payment Network System c) Cash Network
d) None of these
129. Arbitrage is?
a) Buying and selling in two markets simultaneously b) A rate of interest c) A Fee
d) Arbitrage is a dispute e) None of these

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BANKING TERMS
130. Consortium Advances refer?
toa) Concurrent borrowingsb) Multiple financingc) Joint Financing by more than one ban
kd) Financing of consignment businesse) None of these
131. NABARD refinance for financing Self Help Groups is to the extent of?
a) 25%

b) 50%

c) 75%

d) 100%

132. The term Allonge refers to?


a) The stamps affixed on document
b) A sheet of paper attached to mortgage deed for the purpose of witnessc) A sheet of
papers attached to a negotiable instrument for the purposeof making endorsement
thereof when there is no space in the instrument d) None
133. The provision of Consumer Protection Act, 1986 are applicable to the
services rendered by the Banks?
a) To the customers of the bank onlyb) To the customers and the users of services
irrespective of against consideration or free services
c) To the customers and any user of Banks services against
considerationd) None of these
134. As per section 16 of the Banking Regulation Act, 1949 a person can be
appointed as a director of how many banking companies?
a) Three

b) Two

c) One

d) Four e) None of these

135. Banking ombudsman means?


a) Person appointed to recover dues from defaulting borrowersb) A person to
whom customer can approach for redress of his
grievancesc) A person appointed to settle dispute between employees andmanagement
d) A person appointed by RBI to oversee the functioning of Foreign
Bankse) None of these
136. NGO is the term associated with?
a) SHGb) PMRYc) SEEUYd) Agri. Advancese) None of these

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137. Full form of Full form of SLR?
a) Statutory Liquidity Ratiob) State Level Recoveryc) Sundry Leverage Ratiod) State Liq
uidity Reserve
138. C.R.A. in banking parlance stands for?
a) Credit Rating Association

b) Credit Rating Agency c) Credit Risk Assessment

d) None of these
139. E.P.S. in share market stands?
a) Earning per shareb) Electronic Payment Systemc) Employee Pension Scrolld) Equated
Payment Systeme) None of these
140. The Securitization and Reconstruction of Financial Asset and enforceof
Security Interest Act came into force from?
a) 21.08.02 b) 21.06.02

c) 21.07.02

d) 21.12.02

e) None of these

141. The powers of the Board of Directors to borrow from the bank are
mentioned ?a) Article of Association b) Memorandum of Association
c) Special Resolution d) A & B
142. . Who is authorized to permit premature closer of PPF A/c?
a)RBI b) Ministry of finance Department of Economic affairs
c) Chairman of concerning Bank d) None
143. According to RBI guideline how much Percetage of CASA should have
with commercial banks?
a) 40% b) 50%

c) 60%

d) 70%

144. To be categorized as a schedule Bank the minimum capital & reservere


quired a) Rs. 10 lacs

b) Rs. 5 lacs

c) Rs. 20 lacs

d) Rs. 7 lacs

e) None of these
145. The objective of Government to appoint Narsimhan Committee
a) To strengthen the banking system b) To improve customer service
c) To strengthen the credit portfol

d) None of these

146. The full form of RBS is?

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BANKING TERMS
a)Risk Based Supervision

b)Rating by System

c)Role Based Supervision

d)Rating Bank Security


147. Who can fix the interest rates of NRE & FCNB deposits ?
a) RBI

b) Banks, as per the directive of RBI

c) Govt. of India

d) IBA

148. The following is not a housing finance intermediary agency?


a) HDFC

b) HUDCO

c) NHB

d) SICOM

149. Who is authorised to issue coin in India?


a) RBI

b) Ministry of Finance

c) SBI

d) None of these

150. Bank can change interest rate without reference to its Base Rate in the
following?
a)Housing loans

b) NRE/ FCNB deposits

c) Personal loans

d)Educational loans
151. To which category of customers are banks prohibited to sanctionloans
against shares and debentures?
a) Institutionsb) PSUs

c) Banksd) Trust and endowments

152. What should be the method of valuation for advances


againstshares/debentures?
bonds?a) Face valueb) Market pricec) Book Valued) Average Value
153. What action is taken if one of the customers tenders forged note?
a) He is sent to prisonb) Note is returned with remark, forged notec) Note is impounded
d) Note is torn
154. A contract of insurance is a contract of?
a) Indemnity b) Pledge

c) Guarantee d) Hypothecation

155. Where is the headquarters of SWIFT?


a) Hong Kong

b) Brussels

c) London

d) Mumbai

156. Which of these is not a credit rating agency?


a) Moody\s b) Standard & Poors
ICRAe) None of these

c) Price water house

d)

157. Who is the Governor of RBI?

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BANKING TERMS
a) Bimal Jalan
b) Y V Reddy c) K J Udeshi d) Ranga Reddy
e) None of these
158. The VSAT communication network for banks and financial institutions
launched by RBI is known as?
a) SWIFTb) SBI NETc) BANK NETd) INFINET
159. What is a Repo Rate?
(A) It is a rate at which RBI sell government securities to banks (B) It is a rate at
which banks borrow rupees from RBI
(C) It is a rate at which RBI allows small loans
in the market
(D) It is a rate which is offered by Banks to their most valued
customers or prime customers
160. In economics it is generally believed that the main objective of a Public
Sector Financial Company like Bank is to?
(A) Employ more and more people (B) Maximize total profits (C) Maximize total
production
(D) Provide financial service to the people of the nation of its origin across the country
161. Which of the following cannot be called as a Debt Instrument as
referred in financial transactions?
(A) Certificate of Deposits (B) Bonds (C) Stocks (D) Commercial Papers (E) Loans
162. The government formed the panel after many ex-servicemen returned
their medals to protest the rejection of their one rank one pension demand.
Who is heading this panel?
(A) K.M. Chandrasekhar (B) R Balakrishanan (C) B S Padmanabham (D) T. Raja
Shekhar
163. Whenever RBI does some Open Market Operation Transaction, actually
it wishes to regulate which of the following?
(A) Inflation only (B) liquidity in economy (C) Borrowing powers of the banks (D) Flow
of Foreign Direct Investments (E) None of these
164. The maximum amount of the total Revenue earned by the government
of India comes from:
(A) Income Tax (B) Customs Duty (C) Excise Duty (D) Value Added Tax E)
Corporate Tax
165. Which was the first Indian Bank to introduce credit card?
(A) State Bank of India (B) Central Bank of India (C) Union Bank of India (D) ICICI
166. Capital Market Regulator is
(A) RBI (B) IRDA (C) NSE (D) BSE (E) SEBI
167. FDI refers to?
(A) Fixed Deposit Interest (B) Fixed Deposit Investment (C) Foreign Direct Investment
(D) Future Derivative Investment (E) None of these
168. What is Call Money?

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BANKING TERMS
(A) Money borrowed or lent for a day or over night (B) Money borrowed for more
than one day but upto 3 days (C) Money borrowed for more than one day but upto 7
days (D) Money borrowed for more than one day but upto 14 days
169. Which is the first Indian company to be listed in NASDAQ ?
(A) Reliance (B) TCS (C) HCL (D) Infosys (E) None of these
170. Which among the following decides the oil Prices in India?
(A) Government of India (B) Government of Respective states (C) Ministry of
Petroleum (D) Oil Companies (E) None of these
171. SEBI has been imposed a restriction on money flow in equity through
P-notes. What is the full form of P-notes?
(A) Promissory notes (B) purchase notes (C) participatory notes (D) private notes
172. Which of the following is known as plastic money?
(A) bearer cheques (B) credit cards (C) demand drafts (D) gift cheques
173. Who is known as the Father of Economics?
(A) Adam Smith (B) Marshall (C) J.M. Keynes (D) Pareto
(E) None of these
174. Which sister organization of the World Bank provides long term loans at
zero interest to the poorest developing countries?
(A) Asian Development Bank (B) IMF (C) International Developmental Association (D)
International Finance Corporation
175. When there is an inflationary trend in the economy what would be trend
in the pricing of the Bank products ?
(A) Increasing trend (B) Decreasing trend (C) Constant trend (D) There is no
relevance of the inflation in pricing of the Banking Products
176. Banks in our country normally publicize that additional interest rate is
allowed on retail domestic term deposits of?
a) Minors b) Married Women c) Senior citizens d) Government Employees e) Rural
residents
177. When the rate of inflation increases?
a) Purchasing power of money increases b) Purchasing power of money decreases
c) Value of money increases d) Purchasing power of money remains unaffected
178. A centralized database with online connectivity to branches, internet as
well as ATM-network which has been adopted by almost all major banks of
our country is known as?
a) Investment Banking b) Core Banking c) Mobile Banking d) National Banking e)
Specialized Banking
179. Which of the following is NOT considered a money market instrument?
a) Treasury Bills b) Repurchase Agreement c) Commercial Paper d) Certificate of
Deposit
e) Shares and Bonds
180. Which of the following is necessary while opening deposit accounts in
banks?
a) Will b) Registration c) Identity d) Indemnity e) Guarantee

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BANKING TERMS
181. Which of the following is not a banking term?
a) Letter of credit b) MIBOR c) Factoring services d) Entry load e) None of these
182. Which of the following organizations issue the rules of global trade?
a) IMF
b) World Trade Organization c) Foreign trade d) G-20
183. One single statement that depicts the financial position of a Bank and /
or Business enterprise at a given point of time is called?
a) Statement of product details b) Foreign exchange c) Balance Sheet d) Balance of
payment
184. The Reverse Mortgage scheme is launched to give benefit to which of
the following groups of society?
a) Persons below 60 yrs b) Senior Citizens c) Unemployed youth d) Orphan e) All
185. One of the major challenges banking industry is facing these days is
curbing deliberate effortsof some people to bring money earned through
illegal activities in circulation. Which of the following act is passed to prevent
this activity?
a) Payment & settlements Act b) Control money supply Act c) Narcotics and
Psychotropic substance Act d) Prevention of Money laundering Act
186. Which of the following scheme is not meant for investment purposes?
a) National saving certificate b) Infrastructure bonds c) Mutual funds d) Letter of
credit e) None of these
187. Basel norms which are important regulatory stipulations are meant for
which sector?
a) Insurance b) Banking c) Micro finance d) Pension funds
e) None
188. Systematic investment Plans relates to?
a) Mutual Funds b) Life Insurance Companies
c) Commercial Banks d) Post office
savings schemes
189. Euro money is the official currency of?
a) NATO b) UN c) European d) Germany and England
190. Which of the following is an example of cash less purchase?
a) Debit card
b) Credit card
c) ATM withdrawal d) All of the above
191. Whose signature appears on Indian Rs. 100 note?
a) Finance Minister b) RBI Governor c) Finance Secretary d) Chairman, Planning
Commission
192. While discussing investments there is a mention of short term
government security. What is this investment?
a) Debenture b) Mutual funds c) Treasury bill d) Share e) None of these
193. NBFCs are an important part of the Indian financial system. what is
meant by this term?
a) New Banking Financial Companies b) Non Banking Financial Companies
c) Neo Banking Financial Confederation d) Non banking Fiscal corporation
194. Banking loan against property requires the asset to be free from
encumbrances. What does it mean?

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BANKING TERMS
a) The asset to be free from any liability b) The asset to be properly registered
c) The property to be fully constructed d) The asset should not have multiple owners
195. RBI stipulates a healthy mix of CASA in the business figures of banks.
What is CASA?
a) Customer Analysis and Savings Pattern b) Cost Appreciation and selling Analysis
c) Current Account and saving Account d) Credit and savings Aggregate
196. Which one of the following is not an electronic banking delivery
channel?
a) Mobile Vans d) Mobile Phone Banking c) Internet Banking d) Tele Banking e) ATM
197. The Rate at which the domestic currency can be converted into foreign
currency and viceversa is known as the?
a) Exchange rate b) MIBOR c) Inter bank Call money rate d) Base rate e) LIBOR
198. Now-a-days Banks are selling third party products. Example of third
party product is?
a) Mutual funds b) Term deposits c) Credit cards d) All of these
199. Electronic Clearing Service in banks can be availed only by?
a) Individuals b) Corporates c) Senior Citizens d) All of these e) None
200. The usual deposit accounts of banks are?
a) Current accounts, electricity accounts and insurance premium accounts.
b) Current accounts, post office savings, bank accounts and term deposit accounts.
c) Loan accounts, savings bank accounts and term deposit accounts.
d) Current accounts, savings bank accounts and term deposit accounts.
e) Current bill accounts and term deposit accounts.
201. Fixed deposits and recurring deposits are?
a) Repayable after an agreed period b) Repayable on demand c) Not repayable d)
Repayable after death of depositors e) Repayable on demand or after an agreed
period as per banks choice
202. Accounts are allowed to be operated by cheques in respect of?
a) Both savings bank accounts and fixed deposit accounts. b) Savings bank accounts
and current accounts. c) Both savings bank accounts and loan accounts. d) Both
savings bank accounts and cash accounts only. e) Both current accounts and fixed
deposit accounts.
203. Which of the following is correct statement?
a)No interest is paid on current deposit accounts. b)Interest is paid on current
accounts at the same rate as term deposit accounts. c) The rate of interest on current
accounts and savings accounts are the same.
d) No interest is paid on any deposit by the bank. e) Savings deposits are the same as
current deposits.
204. Banking services delivered to a customer by means of a computer
control system that does not directly involve banks branch is called?
a) Universal banking b) Virtual banking c) Narrow banking d) Brick & Mortal banking
e) None

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BANKING TERMS
205. Financial inclusion means provision of ?
a) Financial services namely payments, remittances, savings, loans and insurance at
affordable cost to
persons not yet given the bank b) Ration at affordable cost to persons not yet given
the same
c) House at affordable cost to persons not yet given the same d) Food at affordable
cost to persons not yet given the same e) Education at affordable cost to persons not
yet given the same
206. When a bank returns a cheque unpaid, it is called?
a) Payment of the cheque b) Drawing of the cheque c) Canceling of the cheque d)
Dishonour of the cheque e) Taking of the cheque
207. Who is the Chairman of the committee constituted by RBI to study
issues and concerns in the
Micro Finance Institutions (MFI) Sector?
a) YH Malegam b) Dr. KC Chakraborty c) C. Rangrajan d) M. Damodaran e) Usha
Thorat
208. Which of the following types of accounts are known as Demat
Accounts?
a) Accounts which are Zero Balance b) Accounts which are opened to facilitate
repayment of a loan taken from the bank. No other business can be conducted from
there c) Accounts in which shares of various companies are traded in electronic form
d) Accounts which are operated through internet banking facility e) None of the above
209. NEFT means?
a) National Electronic Funds Transfer b) Negotiated Efficient Fund Transfer system c)
National Efficient Fund Transfer solution d) Non Effective Fund Transfer system e)
Negotiated Electronic Foreign Transfer system.
210. In respect of partnership business, LLP stands for?
a) Local Labour Promotion b) Low Labour Projects c) Limited Loan Partnership d)
Longer Liability Partnership e) Limited Liability Partnership
211. What is a stale cheque?
a) A cheque issued without drawers signature. b) A cheque with only signature of the
drawer. c) A cheque which has completed 3 months from the date of its issue. d)
Any one of the above. e) None
212. Largest shareholder (in percentage shareholding) of a Nationalized
bank is ?
a) RBI
b) NABARD
c) LIC
d) Govt of India
e) IBA
213. Banking Ombudsman is appointed by?
A. Reserve Bank of India B. Government of India C. Concerned State Govt, where
RBI office is located D. Finance Minister E. None of the above
214. Before approaching Ombudsman what should the complainant do?

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BANKING TERMS
A. Take up the matter with State Government B. Take up the matter with concerned
Bank Branch within 30 days of cause of action C. Approach Lok Adalat D. Can
directly approach Banking Ombudsman
215. What is the maximum period within which the aggrieved customer can
approach
OMBUSAMAN?
A. Within 2 year
B. Within 1 year C. Within one month D. No such limitation
period
E. None of the above
216. What is the maximum amount for which the Award Can be given by
OMBUDSMAN?
A. Rs 1,00,000
B. Rs 2,00,000 C. Rs 5,00,000 D. Rs 10,00,000
E. No
limit
217. Who will be appointed as Banking Ombudsman?
A. CGM or GM of RBI
B. Deputy Governor of RBI
C. Governor RBI I is
an ex-officio Ombudsman
D. Finance Secretary E. None of the above
218. KYC norms are liberalized in case of following accounts?
A. Current Account B. Savings Account C. Term Deposit Account D. No Frills
Account.
219. The KYC does not include obtaining the following ?
A. Identity Proof
B. Address Proof C. Customer Profile
D. Vehicle details of the
customer
220. AML Stands for?
A. Anti Monitory Limit
B. Anti Money Laundering C. Always money laundering D.
Anytime Money Laundering E. None of the above
221. KYC Know Your Customer is to identify the Customer, whereas AMLAnti Money Laundering is to identify the Source of Income?
A. False B. True C. True only in case of small amounts D. Not necessary in all cases
E. Any of the above
222. If a Depositor is not a Senior Citizen and his Taxable Income is within
the exempted limits then he has to submit to the Bank for not
deducting tax at source?
A. Form 15G B. Form 15 H C. Form 61 D. Form 60 E. None of the above
223. In case the prospective customer whose income comes from only
Agriculture sources then he has to give a declaration in Form 61?
A. True
B. False
C. He has to submit form 60 D. No such requirement E.
None of the above
224. Nomination is available for?
A. Deposit accounts
B. Safe custody articles
C. Lockers. D. Partnership
firms E. Only A B C
225. Nomination can be given only for?
A. Individuals B. Joint Individuals
C. Limited Companies
D. Only A, and B

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BANKING TERMS
226. Money deposited at a bank that cannot be withdrawn for at fixed period
of time is known as a?
A. Demand Deposit B. Checking Account C. Saving Bank deposit D. Time Deposit
227. With reference to a cheque which of the following is the drawee bank?
A. The bank that collects cheque. B. The payees bank. C. The endorsees bank. D.
The bank of the Drawer of the Cheque
228. Base Rate is the rate below which no Bank can allow their lending to
anyone. Who will fix this Base Rate for Banks?
A. Individuals Banks Board B. Ministry of Commerce
C Ministry of Finance D. RBI
229. Expand NPA?
A. No Provision Account B. Non Performing Asset (An asset which ceases to generate
income) C. No Profit Account D. Non-Personal Accounts E. None of the above
230. Finance Ministry advised RBI to allow common ATMs to be owned and
managed by Non Banking Institutions. Such ATMs are called?
A. NBFC ATMs B. Off Site ATMs
C. Third Party ATMs D. White Label ATMs
231. An ECS transaction gets bounced and you are unable to recover your
money from your customer. Under which Act criminal action can be
initiated?
A. Indian Penal Code B. Negotiable Instrument Act C. Criminal Procedure Code D.
Payment and Settlement Act E. Indian Contract Act
232. What is CTS?
A. Cash Transaction system (in banks) B. Cheque Transfer System C. Cheque
Truncation System
D. Cash Transfer System E. None of the above
233. The headquarters of European Union is situated in which of the
following countries?
A. UK
B. Germany C. France D. Belgium
E. Netherlands
234. Bharat Ratna was instituted in?
A. 1954
B. 1955
C. 1961
D. 1969
E.
1960
235. The USP of a Current account is?
A. High minimum balance B. No restrictions on transactions C. No interest payable
D. Restricted deposits E. None of these
236. Leads for Home Loans can be obtained from?
A. Traders
B. Trusts C. Builders
D. Cooperative societies
E.
None of these
237. The target group for SME loans is?
A. Students
B. Housewives C. Entrepreneurs
D. Salaried persons E.
Government undertakings
238. Which of the following terms is used in the field of finance and
banking?

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BANKING TERMS
A. Metabolism B. Genetic process C. Centrifugal force D. Debt instrument E.
Experimental error
239. The National Social Security Fund (NSSF) helps which of the following
groups of society?
A. Bank employees
B. Central government employees
C. Workers in the
unorganized sector D. Workers in the textile industry
E. Women employees
240. Which of the following tools is used by the RBI to control credit and
monetary situations of the
markets?
A. RTGS
B. NEFT
C. ECS
D. CRR
E. Balance of trade
241. Which of the following countries is located in South America?
A. South Sudan
B. South Korea
C. Uganda D. Angola
E. Uruguay
242. Which of the following is the currency of Myanmar?
A. Taka
B. Dinar C. Kyat D. Yen
E. Dollar
243. Which of the following terms is not used in the field of Economics?
A. Net income
B. Cost of project
C. Flow of fund
D. Balance sheet
E. Cold chain
244. What happens when an economy is in recession?
A. GDP growth slows down B. Unemployment rate rises C. Bankruptcies rise D.
Both A & B
E. All A, B & C
245. Retail investors means which of the following types of stock market
investors?
A. Mutual funds B. Corporate bodies C. Promoters of companies D. Individuals E.
FIIs
246. Functions of Reserve Bank are?
A. Bankers bank
B. Banker to Government
C. Lender of last resort
D. Controlling financial requirements of banks through Repo/Reverse Repo
E. All the above
247. Reverse Repo Rate has the following characteristic?
A. Borrowing by RBI from banks B. Borrowing with government security as
collateral
C. Short Term Borrowing D. All the above
248. Indian commercial banks are categorized into?
A. Public Sector banks
B. Foreign Banks
C. Private Sector Banks D. All the
above
249. Regional Rural Banks have been set up with the basic objective of:
A. Providing credit to semi-urban and urban population B. providing deposits
facilities to farmers
C. Providing credit and deposit facilities to rural areas D. Providing credit, deposit
and other banking facilities to people in rural areas E. None of the above

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BANKING TERMS
250. The following is a mechanism for injecting liquidity by RBI to the
financial system?
A. Reverse Repo B. Hike in CRR
C. Hike in interest rate
D. Decreased in
Repo Rate
E. None of the above

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