![Mcqmate logo](https://mcqmate.com/images/logos/logo-black.png)
![Mcqmate logo](https://mcqmate.com/images/logos/logo-white.png)
McqMate
1. |
Demand deposit also known as ---------------- . |
A. | Current a/c |
B. | Fixed Deposit a/c |
C. | Capital a/c |
D. | Recurring Deposit |
Answer» A. Current a/c |
2. |
Commercial banks to expand deposit through expanding their loans and advances is known as--------. |
A. | Credit creation |
B. | Trade discount |
C. | Deposit |
D. | Bank advances |
Answer» A. Credit creation |
3. |
Rediscounting and giving advance the central bank charges interest at a rate which is known as --------------. |
A. | CRR |
B. | SLR |
C. | Bank rate |
D. | Credit |
Answer» C. Bank rate |
4. |
The nationalization of 14 commercial bank was on -----------------------. |
A. | 19 July 1969 |
B. | 15 Aug 1972 |
C. | 15 April 1980 |
D. | 19 Jan 1959 |
Answer» A. 19 July 1969 |
5. |
The State Bank of India was established under the State Bank of India Act on ----------------. |
A. | 1935 |
B. | 1948 |
C. | 1955 |
D. | 1952 |
Answer» C. 1955 |
6. |
----------------commission recommended the formation of a central bank in 1926. |
A. | Narasimham Committee |
B. | Bretton Wood Committee |
C. | Hilton Young Committee |
D. | Banking Enquiry Committee |
Answer» C. Hilton Young Committee |
7. |
Overdraft is a credit facility granted by commercial bank to------------- holders. |
A. | Current a/c |
B. | Cash a/c |
C. | Capital a/c |
D. | Reserve Fund |
Answer» A. Current a/c |
8. |
Money at call and short notice is also known as----------------------. |
A. | Capital market |
B. | Interbank call money market |
C. | Financial system. |
D. | Financial call money |
Answer» B. Interbank call money market |
9. |
Creation of derivative deposit out of the money from primary deposit is called--------------------- |
A. | Cash credit |
B. | Lending money |
C. | Credit creation |
D. | Loan and advances |
Answer» C. Credit creation |
10. |
The first joint stock Bank in India? |
A. | IDBI |
B. | ICICI |
C. | Imperial Bank |
D. | Allahabad Bank |
Answer» C. Imperial Bank |
11. |
“Buy now pay latter” is the motto of a--------------------- |
A. | ATM |
B. | Debit card |
C. | Credit card |
D. | MICR |
Answer» C. Credit card |
12. |
E-purse is a prepaid card and is known as -----------------. |
A. | Stored value card |
B. | Electronic card |
C. | E-cash |
D. | Electronic credit card |
Answer» A. Stored value card |
13. |
----------------means the transfer of money from one bank a/c to another electronically |
A. | EFT |
B. | SWIFT |
C. | NEFT |
D. | E-purse |
Answer» A. EFT |
14. |
Bank a/c over the world are inter-linked through satellite provided by------------------. |
A. | PSAM |
B. | SWIFT |
C. | EFT |
D. | NEFT |
Answer» B. SWIFT |
15. |
In India , RTGS has been implemented on --------- . |
A. | 26 March 2004 |
B. | 26 March 1998 |
C. | 26 March 1994 |
D. | 26 March 2002 |
Answer» A. 26 March 2004 |
16. |
-------------is a funds transfer mechanism where account to another bank account is real time. |
A. | NEFT |
B. | EFT |
C. | ECS |
D. | RTGS |
Answer» D. RTGS |
17. |
MICR is a------------------digital code. |
A. | 9 |
B. | 11 |
C. | 7 |
D. | 13 |
Answer» A. 9 |
18. |
CTS was introduced RBI in-------. |
A. | February 1995 |
B. | January 2006 |
C. | July 2004 |
D. | February 2008 |
Answer» D. February 2008 |
19. |
------------------------ Conversion of physical cheque into electronic form for transmission to the paying bank. |
A. | CTS |
B. | ECS |
C. | RTGS |
D. | None of the above |
Answer» A. CTS |
20. |
CORE stands for---------------- . |
A. | Central operations of Exchange |
B. | Centralized Online Real time Exchange |
C. | Challenge of Online Real time Exchange |
D. | Centralized Online Real time Efficiency |
Answer» B. Centralized Online Real time Exchange |
21. |
Banking services that increasingly rest on technology and communication system is popularly known as ---------------. |
A. | Hi-tech banking |
B. | Internet banking |
C. | Mobile banking |
D. | All the above |
Answer» A. Hi-tech banking |
22. |
----------- is also called Virtual Banking or anywhere banking. |
A. | Hi-tech banking |
B. | Off shore banking |
C. | Internet banking |
D. | None of the above |
Answer» C. Internet banking |
23. |
Deposit are secondary or derived from the primary deposits is known as-------------. |
A. | Credit creation |
B. | Multiple credit creation |
C. | Single credit creation |
D. | Derivative deposit |
Answer» D. Derivative deposit |
24. |
The Govt. delegates the right of--------------to the central bank. |
A. | Printing currency note |
B. | Coins |
C. | One Rupee note |
D. | All of these |
Answer» A. Printing currency note |
25. |
The deposit balances kept by all commercial banks with the central bank are known as---------. |
A. | Earning per share |
B. | Reserve |
C. | Cash reserve |
D. | General reserve |
Answer» C. Cash reserve |
26. |
----------lender of last resort. |
A. | Central Bank |
B. | Scheduled Bank |
C. | Commercial Bank |
D. | None of these |
Answer» A. Central Bank |
27. |
When customer offers immovable property like land and building as security for a loan, charge thereon is created by means of--------------. |
A. | Pledge |
B. | Hypothecation |
C. | Mortgage |
D. | None of these |
Answer» C. Mortgage |
28. |
The banking Ombudsman scheme was first introduced in-----------. |
A. | June 1994 |
B. | June 1995 |
C. | September 1998 |
D. | June 2002 |
Answer» B. June 1995 |
29. |
--------------is a quasi judicial authority appointed by the RBI to redress customer complaints against certain deficiency in banking services. |
A. | Banking Ombudsman |
B. | Consumer redressal |
C. | Adjudicating authority |
D. | None of these |
Answer» A. Banking Ombudsman |
30. |
To constitute a -----------there must be some recognizable course or habit of dealing in the regular banking business. |
A. | Banker |
B. | Customer |
C. | Creditor |
D. | Debtor |
Answer» B. Customer |
31. |
A fixed deposit is meant for those investors who want to deposit a ----------- of money for a fixed deposit. |
A. | Small amount |
B. | Interval |
C. | Lump sum |
D. | Maturity |
Answer» C. Lump sum |
32. |
Banks maintain customer’s a/c both for ----------- and -------------. |
A. | Loan and payment |
B. | Deposits and loans |
C. | Loans and interest |
D. | None of these |
Answer» B. Deposits and loans |
33. |
--------------are running a/c with unlimited operational facilities. |
A. | Demand deposit a/c |
B. | Cumulative deposit a/c |
C. | Savings a/c |
D. | Time deposit a/c |
Answer» A. Demand deposit a/c |
34. |
Current a/c are also called-------------. |
A. | Savings a/c |
B. | Time deposit a/c |
C. | Demand deposit a/c |
D. | Term deposit a/c |
Answer» C. Demand deposit a/c |
35. |
The minimum period for which a commercial bank can accept term deposit is ----------. |
A. | 8 days |
B. | 7 days |
C. | 30 days |
D. | 15 days |
Answer» B. 7 days |
36. |
Interest on fixed deposit is compounded-------------. |
A. | Monthly |
B. | Half yearly |
C. | Quarterly |
D. | Yearly basis |
Answer» C. Quarterly |
37. |
The minimum investment of recurring deposit varies---------. |
A. | 10000 |
B. | 1000 |
C. | 100 |
D. | 25000 |
Answer» C. 100 |
38. |
----------a/c is opened by NRIs in Indian Banks |
A. | NRO |
B. | NRI |
C. | NRE |
D. | RFC |
Answer» C. NRE |
39. |
------------ is an anti money laundering measure specified in the prevention of money laundering act 2002. |
A. | SAA |
B. | FCNR |
C. | KYC |
D. | NRE |
Answer» C. KYC |
40. |
A cheque is-------------------. |
A. | Instrument |
B. | Negotiable instrument |
C. | Transferred instrument |
D. | None of these |
Answer» B. Negotiable instrument |
41. |
As per the Act Negotiable instrument means-------- |
A. | Document |
B. | Transferred instrument |
C. | Exchange instrument |
D. | Promissory note |
Answer» A. Document |
42. |
Bill of exchange is a------------ |
A. | Printed form |
B. | Crossing |
C. | Need not be a printed form |
D. | Conditional order |
Answer» C. Need not be a printed form |
43. |
---------cheque is easily transferred from one person to another by mere delivery |
A. | Open cheque |
B. | Bearer cheque |
C. | Order cheque |
D. | Stale cheque |
Answer» B. Bearer cheque |
44. |
The payees name is written on the cheque is called-----------. |
A. | Multivalued cheque |
B. | Open cheque |
C. | Crossed cheque |
D. | Order cheque |
Answer» D. Order cheque |
45. |
-----------cheque cannot be transferred from one person to another person by mere delivery. |
A. | Open cheque |
B. | Crossed cheque |
C. | Order cheque |
D. | Stale cheque |
Answer» C. Order cheque |
46. |
A cheque can be crossed by drawing two transverse parallel lines through top left corner of cheque is called -------------. |
A. | General crossing |
B. | Special crossing |
C. | Crossed cheque |
D. | Post dated cheque |
Answer» C. Crossed cheque |
47. |
If a cheque is torn into two or more pieces and presented for payment is called a------------- |
A. | Mixed cheque |
B. | Mutilated cheque |
C. | Group cheque |
D. | Anyi-dated cheque |
Answer» B. Mutilated cheque |
48. |
Cheque in which the drawer mentions the date earlier to the date of presenting it for payment is called ----------- |
A. | Anti-dated cheque |
B. | Crossed cheque |
C. | Post dated cheque |
D. | None of these |
Answer» A. Anti-dated cheque |
49. |
If a cheque has bears a date which is yet to come is termed as a |
A. | Post dated cheque |
B. | Anti-date cheque |
C. | Marketting cheque |
D. | Stale cheque |
Answer» A. Post dated cheque |
50. |
-------------- is a person who became the possessor or payee of a negotiable instrument for a consideration. |
A. | Holder |
B. | Electronic cheque |
C. | Holder in due course |
D. | Holder of the instrument |
Answer» C. Holder in due course |
51. |
---------------cheque is generated written and signed electronically . |
A. | e-cheque |
B. | cheque truncation |
C. | Paperless cheque |
D. | Electronic cheque |
Answer» D. Electronic cheque |
52. |
The physical monument of a paper cheque is sued stop is |
A. | Electronic cheque |
B. | Marketing cheque |
C. | Cheque Truncation |
D. | Mutilated cheque |
Answer» C. Cheque Truncation |
53. |
In general crossing two ______ transverse lines are compulsory |
A. | Parallel |
B. | Vertical |
C. | Horizontal |
D. | Straight |
Answer» A. Parallel |
54. |
__________ means signing on the back of negotiable instrument with a view to transfer the title in the instrument to another person |
A. | Under writing |
B. | Document |
C. | Instrument |
D. | Endorsement |
Answer» D. Endorsement |
55. |
Cheque contains a previous date is_____________ |
A. | Stale cheque |
B. | Ante dated cheque |
C. | Post dated cheque |
D. | MICR cheques |
Answer» B. Ante dated cheque |
56. |
NABARD was set up on |
A. | 1962 |
B. | 1952 |
C. | 1982 |
D. | 1972 |
Answer» C. 1982 |
57. |
________ is one of the aspects of Micro Finance |
A. | Macro credit |
B. | Mobilization of credit |
C. | Micro credit |
D. | Micro debit |
Answer» C. Micro credit |
58. |
__________is the provision of credit service to poor clients |
A. | Micro credit |
B. | Micro finance |
C. | Macro credit |
D. | Macro finance |
Answer» A. Micro credit |
59. |
________ is the apex co-operative bank in a state |
A. | State co-operative Bank |
B. | District co-operative Bank |
C. | Co-operative Society Bank |
D. | Central Co-operative Bank |
Answer» A. State co-operative Bank |
60. |
The nationalization of 14 major commercial bank was in June 1969 & six more banks were nationalized in April |
A. | 1972 |
B. | 1980 |
C. | 1979 |
D. | 1984 |
Answer» B. 1980 |
61. |
Demand deposits are those which can be withdrawn ------------------ |
A. | On demand |
B. | At any future date |
C. | After one year |
D. | After 5 years |
Answer» A. On demand |
62. |
Current deposits are not entitled to-------------------. |
A. | Cheque book |
B. | Statements |
C. | Customer services |
D. | Interest |
Answer» D. Interest |
63. |
Introduction in all deposits account is ----------------. |
A. | Optional |
B. | Compulsory |
C. | Discretion of the bank |
D. | None of these |
Answer» B. Compulsory |
64. |
Sec 138 state that drawer of a cheque is liable to be punished if the cheque is bounded for-----------. |
A. | Not crossing |
B. | Alteration in figures |
C. | Being post dated |
D. | Insufficient fund |
Answer» D. Insufficient fund |
65. |
When a drawer draws a cheque without keeping sufficient balance and if the cheque is dishonored for insufficient funds, the drawer is punishable with and imprisonment which may extend to -------- and or a fine. |
A. | 2 months |
B. | 4 months |
C. | 1 year |
D. | 2 year |
Answer» C. 1 year |
66. |
Where the signature of the drawer of a cheque is not genuine such a cheque is called -------------- |
A. | Post dated cheque |
B. | Forged cheque |
C. | Clearing cheque |
D. | Stale cheque |
Answer» B. Forged cheque |
67. |
A banker on whom a cheque is drawn by the customer is-----------------------. |
A. | Collecting banker |
B. | Paying banker |
C. | Advising banker |
D. | Confirming banker |
Answer» B. Paying banker |
68. |
A banker who collects a cheque for and on behalf of his customer is-----------------. |
A. | Collecting banker |
B. | Paying banker |
C. | Advising banker |
D. | Confirming banker |
Answer» A. Collecting banker |
69. |
When a banker makes payment of a cheque after making hour he will be held ---------. |
A. | Liable |
B. | Reasonable |
C. | Acceptable |
D. | None of these |
Answer» A. Liable |
70. |
One of the conditions to honour the cheque by the paying banker is that amount in figures and words should---------. |
A. | Differ |
B. | Tally |
C. | Be clear |
D. | Not be clear |
Answer» B. Tally |
71. |
Where a customer by a letter has advised the bank directing the banker not to honour/pay a particular cheque such a letter is called |
A. | A letter of authority |
B. | Letter of credit |
C. | Stop payment letter |
D. | Letter of credit |
Answer» C. Stop payment letter |
72. |
Where a customer has issued a cheque date of which is yet to come such a cheque is called ---------. |
A. | Stale cheque |
B. | Post dated cheque |
C. | Crossed cheque |
D. | Stolen cheque |
Answer» B. Post dated cheque |
73. |
Promissory notes, bills of exchange and cheque are together defined as--------------. |
A. | Negotiable instrument |
B. | Transferred instrument |
C. | Trust receipts |
D. | Documents of title to goods |
Answer» A. Negotiable instrument |
74. |
N1 are easily ----------. |
A. | Transferrable |
B. | Gifted |
C. | Sold |
D. | None of these |
Answer» A. Transferrable |
75. |
A cheque is drawn on a -----------------. |
A. | Owner of a ship |
B. | An agent of a principal |
C. | Bank |
D. | Any person |
Answer» C. Bank |
76. |
A cheque is payable on----------------- |
A. | Demand |
B. | After certain date |
C. | On a fixed future date |
D. | None of these |
Answer» A. Demand |
77. |
Two parallel transfers lines across the cheque is called --------------. |
A. | Endorsement |
B. | Transfer |
C. | Assignment |
D. | Crossing |
Answer» D. Crossing |
78. |
Crossing is a direction to the---------------bank to pay the cheque to the payee through a bank. |
A. | Drawer |
B. | Payee |
C. | Paying |
D. | collecting |
Answer» C. Paying |
79. |
When a cheque is drawn on a bank, the banker is called the___________ |
A. | Drawer |
B. | Endorser |
C. | Acceptor |
D. | Drawee |
Answer» D. Drawee |
80. |
The crossing ina crossed cheque can be cancelled by-------------------------- |
A. | Drawer |
B. | Endorser |
C. | Acceptor |
D. | Drawee |
Answer» A. Drawer |
81. |
Acts done honestly is called the acts done |
A. | Without negligence |
B. | Rashly |
C. | Mollified |
D. | In good faith |
Answer» D. In good faith |
82. |
Mere signature of the payee on the reverse of the instrument is called ___________endorsement |
A. | Full |
B. | Blank |
C. | Conditional |
D. | Restrictive |
Answer» B. Blank |
83. |
“ Sans resource” means________________ |
A. | I am not afraid |
B. | Do not touch me |
C. | Ask the drawer |
D. | Without liability to me |
Answer» D. Without liability to me |
84. |
Garnishee order is issued by__________ |
A. | Police officer |
B. | Revenue Authority |
C. | Enforcement Authority |
D. | Court of law |
Answer» D. Court of law |
85. |
Mandate is----------------- |
A. | Stamped agreement |
B. | Order of the court of law |
C. | Memorandum of understanding |
D. | Stamped documents |
Answer» D. Stamped documents |
86. |
Reserve bank was constituted under |
A. | BR act |
B. | RBI act |
C. | Companies act |
D. | Income Tax act |
Answer» B. RBI act |
87. |
Banking companies are licensed by _______________ |
A. | Reserve bank |
B. | Registrar of Companies |
C. | Company Law board |
D. | None of these |
Answer» A. Reserve bank |
88. |
E banking customers need not visit the bank , to meet cash requirement of self through |
A. | Electronic funds transfer |
B. | Tele Banking |
C. | On- line banking |
D. | ATM |
Answer» D. ATM |
89. |
Tele-Banking services function is available with bank computers , based on |
A. | Virtual banking |
B. | Voice processing |
C. | Brick and Mortar processing |
D. | None of these |
Answer» B. Voice processing |
90. |
Benefits of e-banking to consumer |
A. | Anywhere banking |
B. | Anytime banking |
C. | Reduction in cost |
D. | All of the above |
Answer» D. All of the above |
91. |
Banking regulation act was passed in ………………….. |
A. | 1959 |
B. | 1969 |
C. | 1949 |
D. | 1939 |
Answer» C. 1949 |
92. |
Which of the following limits the power of credit creation by commercial banks |
A. | Fiscal policy |
B. | Monetary policy |
C. | Business pessimism |
D. | None of these |
Answer» B. Monetary policy |
93. |
The institution that provides long term loan to industries |
A. | Industrial bank |
B. | Commercial Bank |
C. | Exchange bank |
D. | Central bank |
Answer» A. Industrial bank |
94. |
The banks which are owned and controlled by government |
A. | Government banks |
B. | Public sector banks |
C. | New generation banks |
D. | None of these |
Answer» B. Public sector banks |
95. |
How many banks were nationalized in 1969 |
A. | 12 |
B. | 14 |
C. | 15 |
D. | 13 |
Answer» B. 14 |
96. |
HDFC bank is an example of ……………………………………… |
A. | Private sector Indian bank |
B. | Private sector foreign bank |
C. | Public sector bank |
D. | Nationalized bank |
Answer» A. Private sector Indian bank |
97. |
……………………………… is the central bank of India |
A. | RBI |
B. | Imperial bank |
C. | SBI |
D. | None of these |
Answer» A. RBI |
98. |
Accepting deposits and lending money is the ………………………………………….function of commercial banks |
A. | Primary |
B. | Secondary |
C. | General utility |
D. | Agency functions |
Answer» A. Primary |
99. |
CRR stands for ………………………………………………. |
A. | Current Reserve Ration |
B. | Cash Reserve Ration |
C. | Cumulative Reserve Ration |
D. | None of these |
Answer» B. Cash Reserve Ration |
100. |
EMI stands for ……………………………………………… |
A. | Equated Monthly Installment |
B. | Earning Monthly Interest |
C. | Equally Money Investment |
D. | None of these |
Answer» A. Equated Monthly Installment |
Done Reading?