McqMate
These multiple-choice questions (MCQs) are designed to enhance your knowledge and understanding in the following areas: Bachelor of Arts in Economics (BA Economics) .
| 51. |
MICR is a ________ digit code. |
| A. | 9 |
| B. | 11 |
| C. | 7 |
| D. | 13 |
| Answer» A. 9 | |
| 52. |
CTS was introduced RBI in _________ |
| A. | february 1995 |
| B. | january 2006 |
| C. | july 2004 |
| D. | february 2008 |
| Answer» D. february 2008 | |
| 53. |
________ 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 | |
| 54. |
CORE stands for ________ |
| A. | central operations of exchange |
| B. | centralized online real time exchange |
| C. | challenge of real time exchange |
| D. | centralized online real time efficiency |
| Answer» B. centralized online real time exchange | |
| 55. |
Banking services that increasingly rest on technology and communication systems is popularly known as ___________ |
| A. | hi-tech banking |
| B. | internet banking |
| C. | mobile banking |
| D. | all the above |
| Answer» A. hi-tech banking | |
| 56. |
_________ 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 | |
| 57. |
_________ banking implies co-operation among group of banks for various large scale banking operations and to enjoy the economics of scale. |
| A. | multiple banking |
| B. | consortium banking |
| C. | mixed banking |
| D. | social banking |
| Answer» B. consortium banking | |
| 58. |
In _______ banking, different banks provide different banking services to a single borrower without having a common arrangement or understanding between the lenders. |
| A. | mixed banking |
| B. | group banking |
| C. | multiple banking |
| D. | off-shore banking |
| Answer» C. multiple banking | |
| 59. |
_______ banking refers to the establishment of banking unite which deal only with foreign currency denominated assets & liabilities. |
| A. | unit banking |
| B. | off-shore banking |
| C. | foreign bank |
| D. | internet banking |
| Answer» B. off-shore banking | |
| 60. |
Indian banks were nationalised in the year |
| A. | 1949 |
| B. | 1969 |
| C. | 1959 |
| D. | 1979 |
| Answer» B. 1969 | |
| 61. |
Bankers are not only purveyors of money but also an important sense they are |
| A. | Consumers |
| B. | Manufacturers |
| C. | Lenders |
| D. | Borrowers |
| Answer» B. Manufacturers | |
| 62. |
Primary functions of a commercial banks are ........... and lending |
| A. | Honouring cheques |
| B. | Accepting deposits |
| C. | Issuing cheques |
| D. | Issuing DD |
| Answer» B. Accepting deposits | |
| 63. |
The total number of public sector banks in India is |
| A. | 14 |
| B. | 12 |
| C. | 28 |
| D. | 22 |
| Answer» C. 28 | |
| 64. |
Indian Institute of Bankers is registered as............. |
| A. | Trustee |
| B. | Association |
| C. | Joint Stock Company |
| D. | Co-op society |
| Answer» C. Joint Stock Company | |
| 65. |
The head quarters of National Housing Bank is |
| A. | New Delhi |
| B. | Mumbai |
| C. | Agra |
| D. | Hyderaba |
| Answer» B. Mumbai | |
| 66. |
The Head quarters of Allahabad Bank is |
| A. | Allahabad |
| B. | Mumbai |
| C. | Calcutta |
| D. | Delhi |
| Answer» C. Calcutta | |
| 67. |
The ‘Teller System’ has been introduced by banks to......... |
| A. | Canvas more customers |
| B. | Make quick payment of cheque |
| C. | Clarify enquiries |
| D. | Advice customers |
| Answer» B. Make quick payment of cheque | |
| 68. |
Money at call and short notice of a bank is ............ |
| A. | Secured advance |
| B. | Bankers second line of advance |
| C. | Widely distributed loans |
| D. | All the above |
| Answer» B. Bankers second line of advance | |
| 69. |
The terms drawer, drawee and payee are associated with; |
| A. | Cheques |
| B. | Promissory notes |
| C. | Delivery order |
| D. | Hundies |
| Answer» A. Cheques | |
| 70. |
Where the RBI has no branch the bank which can act as its agent is; |
| A. | Any commercial bank |
| B. | Any nationalised bank |
| C. | SBI |
| D. | Indian bank |
| Answer» C. SBI | |
| 71. |
Unless otherwise specified DD or cheques is valid for a period of; |
| A. | 6 months |
| B. | 1 year |
| C. | 3 months |
| D. | One month |
| Answer» C. 3 months | |
| 72. |
RBI was nationalised in the year |
| A. | 1941 |
| B. | 1949 |
| C. | 1943 |
| D. | 1935 |
| Answer» B. 1949 | |
| 73. |
The drawee of a cheque is always.......... |
| A. | Customer |
| B. | Minor |
| C. | Company |
| D. | Bank |
| Answer» D. Bank | |
| 74. |
Commercial banks in India was organised as....... |
| A. | Sole proprietorship |
| B. | Joint stock company |
| C. | Partnership |
| D. | Joint sector |
| Answer» B. Joint stock company | |
| 75. |
In India ............. banks are nationalised in the year 1969 |
| A. | 16 |
| B. | 19 |
| C. | 14 |
| D. | 22 |
| Answer» C. 14 | |
| 76. |
Second nationalisation of commercial banks (6 banks)was in the year |
| A. | 1979 |
| B. | 1980 |
| C. | 1984 |
| D. | 1976 |
| Answer» B. 1980 | |
| 77. |
Cooperative banks are registered under............. |
| A. | RBI Act |
| B. | Banking Regulation Act |
| C. | Co-operative societies act |
| D. | Any of the above |
| Answer» C. Co-operative societies act | |
| 78. |
The first Regional Rural Bank came into existence on |
| A. | 1972 |
| B. | 1964 |
| C. | 1975 |
| D. | 1977 |
| Answer» C. 1975 | |
| 79. |
The largest public sector bank in India is |
| A. | RBI |
| B. | SBI |
| C. | Canara Bank |
| D. | Indian Overseas Bank |
| Answer» B. SBI | |
| 80. |
RRB Act was enacted in the year |
| A. | 1974 |
| B. | 1979 |
| C. | 1975 |
| D. | 1976 |
| Answer» C. 1975 | |
| 81. |
............. is the apex institution for rural development and rural credit |
| A. | RBI |
| B. | IDBI |
| C. | NABARD |
| D. | IRBI |
| Answer» D. IRBI | |
| 82. |
RBI was established in the year |
| A. | 1949 |
| B. | 1935 |
| C. | 1964 |
| D. | 1947 |
| Answer» B. 1935 | |
| 83. |
Medium term loans are meant for a period |
| A. | 3-5 years |
| B. | 5-10 years |
| C. | Over 10 years |
| D. | 1-3 years |
| Answer» A. 3-5 years | |
| 84. |
Possession of a security practically with the banker is in the case of |
| A. | Mortgage |
| B. | Pledge |
| C. | Hypothecation |
| D. | Hire purchase |
| Answer» B. Pledge | |
| 85. |
Maximum number of withdrawals permitted per half year weather by cheque or otherwise in saving bank account |
| A. | 100 |
| B. | 200 |
| C. | 50 |
| D. | No limit |
| Answer» C. 50 | |
| 86. |
The banker’s obligation to pay his customers cheque is a duty towards............ |
| A. | The drawee |
| B. | The drawer |
| C. | The holder |
| D. | The payee |
| Answer» B. The drawer | |
| 87. |
Collateral security means |
| A. | Advance against supply bills |
| B. | Share and debentures |
| C. | Goods pledged to the bank |
| D. | Additional security |
| Answer» D. Additional security | |
| 88. |
RBI issues currency notes on the basis of............ |
| A. | Minimum reserve |
| B. | General reserve |
| C. | Proportional reserve |
| D. | Gold reserve |
| Answer» A. Minimum reserve | |
| 89. |
The term “Reserve” in Reserve bank of India indicates |
| A. | Reserved for govt. Business alone |
| B. | It keeps reserves of all commercial banks |
| C. | No special significance |
| D. | It keeps foreign currency |
| Answer» B. It keeps reserves of all commercial banks | |
| 90. |
SBI was established in the year |
| A. | 1954 |
| B. | 1956 |
| C. | 1955 |
| D. | 1964 |
| Answer» C. 1955 | |
| 91. |
For opening new branch of a bank should obtain the sanction of.......... |
| A. | Central government |
| B. | State government |
| C. | RBI |
| D. | All the above |
| Answer» C. RBI | |
| 92. |
Negotiable Instrument Act was passed in the year |
| A. | 1856 |
| B. | 1875 |
| C. | 1881 |
| D. | 1882 |
| Answer» C. 1881 | |
| 93. |
NABARD is administered by |
| A. | RBI |
| B. | SBI |
| C. | Board of Directors |
| D. | Central govt. |
| Answer» C. Board of Directors | |
| 94. |
A depositor can withdraw money from the bank any number of time in............. |
| A. | Fixed deposit |
| B. | Savings bank |
| C. | Current a/c |
| D. | Recurring deposit |
| Answer» C. Current a/c | |
| 95. |
A cheque is deemed stale after |
| A. | One month |
| B. | 3 months |
| C. | 6 months |
| D. | One year |
| Answer» B. 3 months | |
| 96. |
Bank rate policy is aimed at |
| A. | Development of banks |
| B. | Helping loan takers |
| C. | Stabilising internal price level |
| D. | None of these. |
| Answer» C. Stabilising internal price level | |
| 97. |
Bank of England was established in the year |
| A. | 1586 |
| B. | 1612 |
| C. | 1694 |
| D. | 1656 |
| Answer» C. 1694 | |
| 98. |
Garnishee order is to restrain a banker from |
| A. | Receiving deposit |
| B. | Making payment |
| C. | Accepting bills |
| D. | Crossing of cheques |
| Answer» B. Making payment | |
| 99. |
A banker need not bother too much to open an account in the name of a person when receiving......... |
| A. | Term deposit |
| B. | Demand deposit |
| C. | Saving deposit |
| D. | Call deposit |
| Answer» A. Term deposit | |
| 100. |
Primary relationship between banker and customer is that of |
| A. | Dealer and customer |
| B. | Principal and agent |
| C. | Debtor and creditor |
| D. | Vender and buyer |
| Answer» C. Debtor and creditor | |
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