MCQOPTIONS
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MCQOPTIONS
This section includes 3653 Mcqs, each offering curated multiple-choice questions to sharpen your Banking And Financial Awareness knowledge and support exam preparation. Choose a topic below to get started.
| 2251. |
Which of the following cities was/were exempted from the Lead Bank Scheme? |
| A. | Delhi |
| B. | Mumbai |
| C. | Varanasi |
| D. | both [a] and [b] |
| E. | None of these |
| Answer» E. None of these | |
| 2252. |
With reference to India, consider the following 1. Lead Bank Scheme 2. No-frills accounts 3. Differential Rate of Interest scheme 4. Teaser loans Which of the above can be considered as steps taken to achieve "financial inclusion" in India? |
| A. | 1, 3, 4 |
| B. | 2, 3, 4 |
| C. | 3, 4 |
| D. | All of the above |
| E. | None of these |
| Answer» E. None of these | |
| 2253. |
Cheque book can be issued on a Kisan Credit Card Account if the loan amount is above |
| A. | Rs. 25,000 |
| B. | Rs. 50,000 |
| C. | Rs. 1,00,000 |
| D. | Rs. 75,000 |
| Answer» B. Rs. 50,000 | |
| 2254. |
Which of the following focus areas is monitored by the Bank Board Bureau? |
| A. | Forming strict norms to stop NPA |
| B. | Implementation of BASEL norms on banking |
| C. | Appointment of top bank personal |
| D. | Attract financial inclusion plan |
| E. | None of these |
| Answer» D. Attract financial inclusion plan | |
| 2255. |
Loans of very small amounts given to low income groups are called |
| A. | Cash credit |
| B. | Simple overdraft |
| C. | No-frills loans |
| D. | All of the above |
| E. | None of these |
| Answer» E. None of these | |
| 2256. |
The Reserve Bank of India established which of the following boards to encourage transparency in lending and fair pricing |
| A. | Securities and Exchange Board of India |
| B. | Lending Standards Board |
| C. | Banking Codes and Standards Board of India |
| D. | Banks Board Bureau |
| E. | None of these |
| Answer» D. Banks Board Bureau | |
| 2257. |
Which of the following efforts fall under Financial Inclusion Plan (FIP) of RBI/ government? |
| A. | Nationalization of banks |
| B. | Priority Sector Lending (PSL) targets |
| C. | Zero balance accounts, like BSBDA, Jan-Dhan Account, Small Account |
| D. | All of the above |
| E. | None of these |
| Answer» E. None of these | |
| 2258. |
Which of the following policies of the financial sectors is basically designed to transfer local financial assets into foreign assets freely at market determined exchange rates? |
| A. | Capital account convertibility |
| B. | Financial deficit management |
| C. | Minimum support price |
| D. | Restrictive trade practices |
| E. | None of these |
| Answer» B. Financial deficit management | |
| 2259. |
Which of the following types of bank accounts provides a low-cost access to customers? |
| A. | No-frills accounts |
| B. | Savings account |
| C. | Current Accounts |
| D. | Both [b] and [c] |
| E. | None of these |
| Answer» B. Savings account | |
| 2260. |
Kisan Credit Cards are an effective way of reaching out to the farmers by the banks. What assistance does a farmer receive in this way? |
| A. | Credit facility for crops against an approved limit |
| B. | Short-term credit facility against value of his crops |
| C. | Long-term credit is provided against his land holdings |
| D. | Loan is permissible against crops sold/ but payment yet to be received by the farmer |
| E. | None of these |
| Answer» B. Short-term credit facility against value of his crops | |
| 2261. |
Which of the following is/are eligible for priority sector lending in the agricultural sector? |
| A. | Farm credit |
| B. | Agriculture infrastructure |
| C. | Ancillary activities |
| D. | All of the above |
| E. | None of these |
| Answer» E. None of these | |
| 2262. |
Which of the following is promoted through National Unified USSD Platform? |
| A. | Mobile banking |
| B. | Net banking |
| C. | Credit cards distribution |
| D. | Cyber security |
| E. | None of these |
| Answer» B. Net banking | |
| 2263. |
How many 'Basic Savings Bank Deposit Accounts (BSBDA)' can be opened by an individual? |
| A. | One |
| B. | Three |
| C. | Two |
| D. | Four |
| E. | None of these |
| Answer» B. Three | |
| 2264. |
Which of the following statements is/are correct about National Rural Financial Inclusion Plan? I. It focuses on providing credit to at least 50% of financially excluded households. II. Commercial Banks and Regional Rural Banks have been selected for the implementation of the plan. |
| A. | I only |
| B. | II only |
| C. | Both I and II |
| D. | None of these |
| Answer» D. None of these | |
| 2265. |
Which of the following promote(s) financial inclusion? |
| A. | Business correspondent mechanism |
| B. | No-frills accounts |
| C. | Lead Bank Schemes |
| D. | All of the above |
| E. | None of these |
| Answer» E. None of these | |
| 2266. |
Financial inclusion creates a platform for |
| A. | money saving |
| B. | providing formal credit avenues |
| C. | promoting transparency in public subsidies and welfare programmes |
| D. | All of the above |
| Answer» E. | |
| 2267. |
Committee on Financial Inclusion headed by Dr. C. Rangarajan was set up in |
| A. | 2004 |
| B. | 2006 |
| C. | 2009 |
| D. | 2002 |
| E. | None of these |
| Answer» C. 2009 | |
| 2268. |
Khan Commission was set up in 2004 to |
| A. | review monetary policy |
| B. | introduce loan schemes |
| C. | prepare report on financial inclusion |
| D. | review the financial status of public sector banks |
| E. | None of these |
| Answer» D. review the financial status of public sector banks | |
| 2269. |
Which of the following statements is/are correct about Basic Savings Bank Deposit Account? I. It has been introduced by RBI with an aim to promote financial inclusion. II. It allows opening of a bank account with Rs. 500 as minimum balance. III. All the existing 'No-frills' accounts opened by the banks are converted into BSBDA. |
| A. | I only |
| B. | I and III |
| C. | II and III |
| D. | I, II and III |
| E. | None of these |
| Answer» C. II and III | |
| 2270. |
Which of the following is not a feature of the Pradhan Mantri Jan Dhan Yojana? |
| A. | No provision of minimum balance accounts |
| B. | Accidental insurance cover of Rs. 3 lakh |
| C. | Issuance of RuPay debit cards |
| D. | All of the above |
| E. | None of these |
| Answer» C. Issuance of RuPay debit cards | |
| 2271. |
Which of the following banking concepts emphasizes on the delivery of banking services at an affordable cost? |
| A. | Social Banking |
| B. | Mass Banking |
| C. | Financial Inclusion |
| D. | None of these |
| Answer» D. None of these | |
| 2272. |
Which of the following does not qualify as priority sector lending? |
| A. | Agricultural lending |
| B. | Education loans |
| C. | Auto loans |
| D. | Loans to small scale sector |
| E. | Housing loan |
| Answer» D. Loans to small scale sector | |
| 2273. |
In banking parlance, 'Sub-prime' refers to |
| A. | landing by banks at rates below PLR |
| B. | funds raised by banks at sub-libor rates |
| C. | group of banks which are not rated as prime banks as per bankers almanac |
| D. | lending done by banks / FIs to customers not meeting with normally required credit appraisal standards |
| E. | None of the above |
| Answer» E. None of the above | |
| 2274. |
In case where the loan is sanctioned by the bank against the borrower submitting the fake/forged documents and thus, playing fraud on the bank, such a loan is to be treated in the bank's books as a ?........ asset, even when there is recovery in the account as per the repayment schedule approved by the bank at the time of sanctioning the loan. |
| A. | standard |
| B. | sub-standard |
| C. | doubtful |
| D. | loss |
| E. | None of these |
| Answer» E. None of these | |
| 2275. |
Which of the following is a payment and settlement system' used by the banks in India? |
| A. | Liquidity adjustment facility |
| B. | Real time gross settlement |
| C. | Forward rate agreements |
| D. | Central depository service |
| E. | Negotiated dealing system |
| Answer» C. Forward rate agreements | |
| 2276. |
'Sub-prime lending' is a term applied to the loans made to |
| A. | these borrowers who do not have a good credit history |
| B. | those who wish to take loan against the mortgage of tangible assets |
| C. | those who have a good credit history and are known to bank since 10 years |
| D. | Both [a] and [b] |
| E. | None of the above |
| Answer» B. those who wish to take loan against the mortgage of tangible assets | |
| 2277. |
Which of the following products of a bank is specifically designed to provide financial help to children in their higher studies in India or in a foreign nation? |
| A. | Personal loan |
| B. | Corporate loan |
| C. | Educational loan |
| D. | Mortgage loan |
| E. | None of these |
| Answer» D. Mortgage loan | |
| 2278. |
Loans and advances a bank, provides come under which of the following category? |
| A. | Assets |
| B. | Liabilities |
| C. | Costs |
| D. | All of these |
| E. | None of these |
| Answer» B. Liabilities | |
| 2279. |
Life insurance in its modern form came to India from England in the year |
| A. | 1818 |
| B. | 1896 |
| C. | 1905 |
| D. | 1907 |
| E. | 1919 |
| Answer» B. 1896 | |
| 2280. |
Which of the following is a retail banking product? |
| A. | Home loans |
| B. | Working capital finance |
| C. | Corporate term loans |
| D. | Infrastructure financing |
| E. | Export credit |
| Answer» B. Working capital finance | |
| 2281. |
E-KYC is possible only for those who have. |
| A. | PAN Card |
| B. | Driving License |
| C. | Aadhaar Number |
| D. | All of the these |
| E. | None of these |
| Answer» D. All of the these | |
| 2282. |
Which of the following challenges fall into the category of mobile banking solutions? (i) To offer a common mobile banking solution to various types of devices. (ii) Security of financial transactions is the most complicated challenge. (iii) The customer may be sitting in any part of the world so banks need to ensure that the systems are up and running in a true \[24\times 7\] fashion. |
| A. | (i) only |
| B. | (ii) only |
| C. | All of the above |
| D. | None of these |
| Answer» D. None of these | |
| 2283. |
(i) e-wallet refers to an electronic, internet based payment system which stores financial value as well as personal identity related information. (ii) It requires the use of a physical card for undertaking transactions/remittances. (iii) Such electronic payment systems enable a customer to pay online for the goods and services. (iv) It also transfers funds to others, by using a mobile or computer. |
| A. | (i) only |
| B. | (ii) only |
| C. | (i), (iii) & (iv) |
| D. | All of the above |
| E. | None of these |
| Answer» D. All of the above | |
| 2284. |
NFS is the largest network of shared automated teller machines (ATMs) in India. NFS stands for- |
| A. | National Financial Service |
| B. | National Financial Switch |
| C. | National Financial Stand |
| D. | National Financial Security |
| E. | None of these |
| Answer» C. National Financial Stand | |
| 2285. |
Which of the following statements is correct with RuPay? (i) International transactions lead to higher transactions costs. Such costs can be reduced by using RuPay card since processing will be done within the country. (ii) Transactions will be faster. (iii) Users cannot get alerts for every transaction made through RuPay Card. (iv) Processing fee for RuPay card compared with regular debit/credit cards will be considerably lower. |
| A. | (i) only |
| B. | (i) and (ii) |
| C. | (i), (ii) and (iv) |
| D. | All of the above |
| E. | None of these |
| Answer» D. All of the above | |
| 2286. |
Which of the following statements is/are correct about PayZapp? I. It has been launched by ICICI Bank. II. It can run on Android and iOS phones. III. It needs to be registered with Aadhar. |
| A. | I and II |
| B. | II and III |
| C. | I, II and III |
| D. | II only |
| E. | None of these |
| Answer» E. None of these | |
| 2287. |
Select the option due to which credit theft is impossible with smart card |
| A. | Key to unlock encrypted information required |
| B. | There is no external account number on the card |
| C. | All of the above |
| D. | None of these |
| Answer» D. None of these | |
| 2288. |
Which of the following is not correct about e-commerce? |
| A. | It is a powerful tool for customer relationship building |
| B. | It can help reduce operation costs |
| C. | It increases the net cost per contact |
| D. | It offers greater flexibility in meeting customer needs |
| E. | None of these |
| Answer» D. It offers greater flexibility in meeting customer needs | |
| 2289. |
Which of the following is a cultural constraint from the digital marketing macro-environment? |
| A. | Taxation at source of purchase |
| B. | Propensity for consumers to purchase online |
| C. | Opt-in to e-mail required to avoid SPAM |
| D. | Likelihood of fraudulent transactions |
| E. | None of these |
| Answer» C. Opt-in to e-mail required to avoid SPAM | |
| 2290. |
Digital Wallets are related to |
| A. | RBI Act, 1934 |
| B. | Banking Regulation Act |
| C. | Payment and Settlement System Act |
| D. | SARFAESI Act |
| Answer» D. SARFAESI Act | |
| 2291. |
Which of the following statements is/are correct about Unified Payment Interface? I. It allows a customer to pay directly from a bank account to different merchants using IFSC code. II. No charges are applicable for making fund transfer. |
| A. | I only |
| B. | II only |
| C. | Both I and II |
| D. | None of these |
| Answer» E. | |
| 2292. |
Which of the following inputs is required for a customer to do a transaction with AEPS? |
| A. | Issuer Identification Number |
| B. | Finger Print |
| C. | Aadhar Number |
| D. | All of the above |
| E. | None of these |
| Answer» E. None of these | |
| 2293. |
Which of the following aimed at promoting inter-operable financial inclusion? |
| A. | Aadhaar Enabled Payment System |
| B. | Bharat Interface for Money |
| C. | Digital wallet |
| D. | None of these |
| Answer» B. Bharat Interface for Money | |
| 2294. |
Which of the following statements is/are correct about BBPS? I. The policy guidelines for the implementation of BBPS were issued by the Reserve Bank of India. II. It offers interoperable bill payment ser- vice to customers. |
| A. | I only |
| B. | II only |
| C. | Both I and II |
| D. | None of these |
| Answer» D. None of these | |
| 2295. |
Which of the following statements is/are correct? I. In new Unified Payments Interface (UPI) based payment model/ money transfer is possible in send mode only. II. There is a limit of Rs. 1 lakh per transaction through the UPI platform. |
| A. | I only |
| B. | II only |
| C. | Both I and II |
| D. | None of these |
| Answer» C. Both I and II | |
| 2296. |
Which of the following statements is/are correct about BHIM app? I. The app is inter-operable with Unified Payment interface (UPI) but does not connect directly to your bank account. II. There is limit of 50,000 rupees transaction in 24 hours. III. It uses Immediate Payment Service (IMPS) system. |
| A. | II only |
| B. | I and III |
| C. | I, II and III |
| D. | II and III |
| E. | None of these |
| Answer» D. II and III | |
| 2297. |
_________ is a standard format of Bank Identifier Codes (BIC) for banks to identify banks and financial institutions globally, |
| A. | RTGS |
| B. | IFSC |
| C. | NEFT |
| D. | SWIFT |
| E. | None of these |
| Answer» E. None of these | |
| 2298. |
Which of the following channels can be used for transactions with RuPay card? |
| A. | ATMs |
| B. | Point of Sales (PoS) |
| C. | Aadhaar-based micro ATM |
| D. | All of the above |
| E. | None of these |
| Answer» E. None of these | |
| 2299. |
Which of the following agencies developed the Unified Payments Interface? |
| A. | RBI |
| B. | National Payments Corporation of India |
| C. | Department of Electronics & Information Technology |
| D. | None of these |
| Answer» C. Department of Electronics & Information Technology | |
| 2300. |
Which of the following apps is available in 13 Indian languages? |
| A. | PayZapp |
| B. | State Bank Buddy |
| C. | LIME |
| D. | None of these |
| Answer» C. LIME | |