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.
| 2301. |
Which of the following apps allows UPI- based payments? |
| A. | ICICI Pockets |
| B. | PhonePe |
| C. | Airtel Money |
| D. | None of these |
| Answer» B. PhonePe | |
| 2302. |
Which of the following statements is/are correct about LIME app? I. It has been launched by HDFC Bank. II. It can be used to apply for home loans. III. It can run only on Android platform. |
| A. | III only |
| B. | I and II |
| C. | II and III |
| D. | I, II and III |
| E. | None of these |
| Answer» B. I and II | |
| 2303. |
Which of the following operating systems is/are supported by Airtel Money app? |
| A. | Android |
| B. | iOS and |
| C. | Windows |
| D. | All of the above |
| E. | None of these |
| Answer» E. None of these | |
| 2304. |
Which of the following statements is/are correct about PhonePe? I. It has been launched by Amazon. II. It works over Unified Payment Interface. III. It allows bank to bank payment transfers using Virtual Payment Address. |
| A. | I only |
| B. | I and II |
| C. | I, II and III |
| D. | II and III |
| E. | None of these |
| Answer» E. None of these | |
| 2305. |
Which of the following statements is/are correct about Ola Money? I. It can be used as a credit card to pay cab fare. II. It is available on only Android and Windows mobiles. |
| A. | I only |
| B. | II only |
| C. | Both I and II |
| D. | None of these |
| Answer» E. | |
| 2306. |
To use smart cards/ debit cards/ credit cards for the purchase of an item or for payment of a service of a merchant's store, the card has to be swiped in a terminal known as: |
| A. | Real time terminal |
| B. | Shopping terminal |
| C. | Point of Sale terminal |
| D. | All of the above |
| E. | None of these |
| Answer» D. All of the above | |
| 2307. |
BBPS stands for______. |
| A. | Broad Band Plug-in Spectrum |
| B. | Budgeting and Business Planning Security |
| C. | Bharat Bill Product System |
| D. | Bharat Bill Payment System |
| E. | None of these |
| Answer» E. None of these | |
| 2308. |
A bank or a financial organisation these days relies heavily on e-commerce for its transaction. As a part of system security, it introduces organisation's security awareness manual. This step of the bank/ organisation can be classified under which one of the following categories of measures for a business? |
| A. | Detective |
| B. | Compliance |
| C. | Corrective |
| D. | Preventive vigilance |
| E. | None of these |
| Answer» E. None of these | |
| 2309. |
IMPS is an instant interbank electronic fund transfer service through mobile phones. IMPS stands for |
| A. | Indian Mobile Payment Service |
| B. | Immediate Payment System |
| C. | Immediate Payment Service |
| D. | Immediate Product Service |
| E. | None of these |
| Answer» D. Immediate Product Service | |
| 2310. |
Which among the following products is not a product of NPCI? |
| A. | Unified Payments Interface (UPI) |
| B. | Bharat Interface for Money (BHIM) |
| C. | Single Euro Payments Area (SEPA) |
| D. | Bharat Bill Payment System (BBPS) |
| E. | None of these |
| Answer» D. Bharat Bill Payment System (BBPS) | |
| 2311. |
MICR code is used for |
| A. | Electronic Clearance of Cheques |
| B. | Electronic Funds Transfer |
| C. | Code Banking Solution |
| D. | Cheque Truncation Services |
| E. | None of these |
| Answer» B. Electronic Funds Transfer | |
| 2312. |
Which among the following benefits is/are associated with RuPay? |
| A. | International transactions lead to higher transactions costs. Such costs can be reduced by using RuPay card since processing will be done within the country. |
| B. | Users will get alerts for every transaction made through RuPay Card. |
| C. | Processing fees for RuPay card compared with regular debit/credit cards will be considerably lower. |
| D. | All of the above |
| E. | None of these |
| Answer» E. None of these | |
| 2313. |
Reserve Bank has permitted RRBs for opening/maintaining non-residents (ordinary/external) accounts in rupees and for acceptance of FCNR (2) deposits subjects to the condition that |
| A. | the bank should have a positive net worth and earned net profit during the preceding year |
| B. | the bank should not have defaulted in maintenance of CRR/SLR requirements on more than three occasions during the preceding 2 years. |
| C. | net NPA level of the bank should not exceed 5% of the outstanding advances as on 31st March of the preceding year |
| D. | Both [b] and [c] |
| E. | All of these |
| Answer» F. | |
| 2314. |
Which of the following statements is/are correct about Indian Postal payment Bank? (i) It is a Public Limited Company under the Department of Posts with 100% GOI equity. (ii) It offers demand deposits such as savings and current accounts up to a balance of Rs. 1 Lakh. |
| A. | i only |
| B. | ii only |
| C. | Both i and ii |
| D. | None of these |
| Answer» E. | |
| 2315. |
Primary (Urban) Co-operative Banks (UCBs) have been permitted to close unremunerative branches/extension counters without the Reserve Bank's prior permission provided |
| A. | the bank has not been placed under any directions under Section 35A of the Banking Regulation Act, 1949. |
| B. | the bank's board should take the decision of closing down the extension counter/branch and the decision should be properly minuted in the official record of proceedings of the Board Meeting. |
| C. | the bank should give proper notice to all existing depositors/clients of the branch through a press release in local leading newspapers as also through a circular to each constituent of the branch, well in advance of the closure of the branch. |
| D. | All of the above |
| E. | None of these |
| Answer» E. None of these | |
| 2316. |
The RBI has prescribed that all SGBs should maintain their SLRs in |
| A. | dated securities notified by RBI |
| B. | T-bills of Government of India |
| C. | state development loans |
| D. | All of the above |
| E. | None of these |
| Answer» E. None of these | |
| 2317. |
National Federation of Sate Co-operative Banks |
| A. | provides a common forum to the member banks |
| B. | promotes and protects the interests of the member banks |
| C. | co-ordinate and liaison with Government of India and RBI |
| D. | provide research and consultancy inputs to the member banks |
| E. | All of the above |
| Answer» F. | |
| 2318. |
Which of the following is true about Co-operative Banks? |
| A. | They are established under the Co-operative Societies Act |
| B. | They have profit as their main motive |
| C. | All are scheduled banks |
| D. | All of the above |
| E. | None of these |
| Answer» B. They have profit as their main motive | |
| 2319. |
The earliest efforts in the direction of setting up special land mortgage banks were made in |
| A. | West Bengal when the first Co-operative Land Mortgage Bank was organised in 24 Parganas in 1884 |
| B. | In Punjab when the first Co-operative Land Mortgage Bank was organised in Jhang in 1920 |
| C. | Orissa when the first Co-operative Land Mortgage Bank was organised in Jhang in 1834 |
| D. | All of the above |
| E. | None of these |
| Answer» C. Orissa when the first Co-operative Land Mortgage Bank was organised in Jhang in 1834 | |
| 2320. |
According to the guidelines, the Reserve Bank of India will consider proposals for merger and amalgamation of urban cooperative banks when |
| A. | the net worth of the acquired bank is positive and the acquirer bank assures to protect entire deposits of all the depositors of the acquired bank |
| B. | the net worth of acquired bank is negative, but the acquirer bank on its own assures to protect deposits of all the depositors of the acquired bank |
| C. | the net worth of the acquired bank is negative and the acquirer bank assures to protect the deposits of all the depositors with financial support from the State Government extended up front as part of the process of merger |
| D. | All of the above |
| E. | None of these |
| Answer» E. None of these | |
| 2321. |
Which of the following measures have been taken to enlarge resources available to RRBs? |
| A. | Lines of credit at a reasonable rate of interest from sponsor banks |
| B. | Access to inter-RRB term money/ borrowings |
| C. | Access to repo/CBLO markets |
| D. | All of the above |
| E. | None of these |
| Answer» E. None of these | |
| 2322. |
Which of the following Co-operative Banks is considered as the first Co-operative Bank in India? |
| A. | Greater Bombay Co-operative Bank Limited |
| B. | Abhyudaya Co-operative Bank Limited |
| C. | Ahmedabad Mercantile Co-operative Bank Limited |
| D. | Amanath Co-operative Bank Limited |
| E. | Anyonya Co-operative Bank |
| Answer» F. | |
| 2323. |
Which of the following year marked the beginning of the history of agricultural cooperative banks in India? |
| A. | 1904 |
| B. | 1905 |
| C. | 1906 |
| D. | 1907 |
| E. | 1908 |
| Answer» B. 1905 | |
| 2324. |
The State Co-operative Bank, being the Apex Bank at the state level |
| A. | operates as a balancing centre for the movement of the resources in the entire state |
| B. | acts as the custodian of the surplus resources and the reserves of the central co-operative banks and supplements them by attracting sizeable deposits and by obtaining loans from RBI. |
| C. | provides the link between the RBI and the money market on one hand and the entire co-operative credit structure, on the other |
| D. | All of the above |
| E. | None of these |
| Answer» E. None of these | |
| 2325. |
The general approach to the loaning policies and procedures of co-operative banks has been to |
| A. | implement the crop loan system in all its aspects |
| B. | allow only long-term loans to the farmers extending beyond 20 years for development on land |
| C. | finance for research and upgradation of agricultural inputs like seeds/ manure, implements etc. |
| D. | provide a window for marketing of agricultural produce |
| E. | All of the above |
| Answer» B. allow only long-term loans to the farmers extending beyond 20 years for development on land | |
| 2326. |
Banks recover term loan from the parties in EMIs. What the letter 'E' represents in the term? |
| A. | Easy |
| B. | Effective |
| C. | Equated |
| D. | Essential |
| E. | Economical |
| Answer» D. Essential | |
| 2327. |
Which of the following is not an organised sector in India? |
| A. | Nationalised Banks |
| B. | Regional Rural Banks |
| C. | Cooperative Banks |
| D. | Chits and Money Lenders |
| E. | Industrial Bank |
| Answer» E. Industrial Bank | |
| 2328. |
With a view to enlarge resources available to RRBs for a variety of purposes, especially in the context of programme of financial inclusion, general credit card etc. Reserve Bank advised that |
| A. | Sponsor banks should provide them lines of credit at a reasonable rate of interest |
| B. | RRBs may borrow from/or place funds with other RRBs, including those sponsored by other banks, subject to counter party Credit Risk Policy and limits |
| C. | RRBs may enter into ready forward transactions in government securities with Subsidiary General Ledger (SGL), Constituent Subsidiary General Ledger (CSGL) account holders |
| D. | Both [b] and [c] |
| E. | All of the above |
| Answer» F. | |
| 2329. |
The main objective(s) of the Export-Import Bank (EXIM Bank) is/are (i) to ensure an integrated and coordinated approach to solving the problems of exporters. (ii) to provide special attention to capital goods export and export of technical services. (iii) to tap domestic and overseas markets for resources, undertake development and finance activities in the areas of exports. |
| A. | (i) and (ii) |
| B. | (i), (ii) and (iii) |
| C. | (i) and (iii) |
| D. | (ii) only |
| E. | None of these |
| Answer» C. (i) and (iii) | |
| 2330. |
Which nationalised bank was the first to sponsor a Regional Rural Bank (RRB) in India? |
| A. | Syndicate Bank |
| B. | Bank of India |
| C. | Union Bank of India |
| D. | Central Bank of India |
| E. | None of the above |
| Answer» B. Bank of India | |
| 2331. |
The duration of fundraising from the commercial banks for RIDFs in agricultural lending is |
| A. | daily |
| B. | weekly |
| C. | monthly |
| D. | yearly |
| E. | None of these |
| Answer» E. None of these | |
| 2332. |
With a view to increase their resource base, RRBs have been permitted to |
| A. | issue of credit/debit cards and setting- up of ATMs |
| B. | open currency chests |
| C. | handle pension and other government business as sub-agents of those banks which are authorised to conduct government business |
| D. | Both [a] and [b] |
| E. | All of the above |
| Answer» E. All of the above | |
| 2333. |
For the purpose of Income Tax Act, 1961, the Regional rural banks (RRBs) are treated as |
| A. | scheduled commercial banks |
| B. | non-scheduled banks |
| C. | nationalised banks |
| D. | co-operative banks |
| E. | None of these |
| Answer» D. co-operative banks | |
| 2334. |
Which of the following is not a recommendation of the Narasimham Committee, 1991? |
| A. | Reduction of CRR and SLR |
| B. | Phasing out directed Credit Programme |
| C. | Reduction of capital adequacy ratio |
| D. | Establishment of ARP fund |
| E. | Autonomy to public sector bank |
| Answer» D. Establishment of ARP fund | |
| 2335. |
Regional Rural Banks (RRBs) are empowered to transact the business of banking as denned under |
| A. | Banking Regulation Act, 1949 |
| B. | Negotiable Instruments Act, 1881 |
| C. | Regional Rural Banks Act, 1976 |
| D. | the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 |
| E. | None of these |
| Answer» B. Negotiable Instruments Act, 1881 | |
| 2336. |
RRBs are permitted to undertake corporate agency business, without risk participation, for distribution of all types of insurance products including health and animal insurance subject to the condition that |
| A. | the bank should comply with the Insurance Regulatory and Development. Authority (IRDA) regulations for acting as 'composite corporate agent' |
| B. | the bank should not adopt any restrictive practice of forcing its customers to go in only for a particular insurance company in respect of assets financed by the bank |
| C. | the risks, if any, involved in insurance agency should, not get transferred to the business of the bank |
| D. | Both [a] and [c] |
| E. | All of the above |
| Answer» F. | |
| 2337. |
At present, the formula for subscription to RRBs capital has been fixed at |
| A. | Central Government 50%, State Government 35% and Sponsor Bank 15% |
| B. | Central Government 60%, State Government 20% and Sponsor Bank 20% |
| C. | Central Government 30%, State Government 30% and Sponsor Bank 40% |
| D. | Central Government 35%, State Government 35% and Sponsor Bank 30% |
| E. | Central Government 50%, State Government 25% and Sponsor Bank 25% |
| Answer» C. Central Government 30%, State Government 30% and Sponsor Bank 40% | |
| 2338. |
The Basel III capital regulation has been/ will be fully implemented as on |
| A. | 31st March, 2020 |
| B. | 31st March, 2019 |
| C. | 31st March, 2017 |
| D. | 31st March, 2018 |
| Answer» C. 31st March, 2017 | |
| 2339. |
The term 'Ways and Means Advances' refers to |
| A. | The temporary advance made to the government by its Bankers to reduce the gap between expenditure and the flow of receipt of revenues |
| B. | the advance given by the Banks to the poorest of the society |
| C. | lending made under PMRY scheme |
| D. | All of the above |
| Answer» B. the advance given by the Banks to the poorest of the society | |
| 2340. |
Which committee has recommended the setting up of Special Tribunals to reduce the time required for settling cases? |
| A. | Kelkar committee |
| B. | Justice Reddy committee |
| C. | Rangarajan Committee |
| D. | Narasimham Committee |
| Answer» E. | |
| 2341. |
RBI has decided to help banks as a temporary measure by providing additional liquidity support under LAF. What is the full form of LAF? |
| A. | Loan Adjustment Fund |
| B. | Liquidity Adjustment Facility |
| C. | Long Awaited Funds |
| D. | Loan against Funds |
| E. | None of the above |
| Answer» C. Long Awaited Funds | |
| 2342. |
For which of the following reasons RBI has planned to undertake mid-quarter policy reviews? |
| A. | To re-align its policies |
| B. | To ensure smooth flow of credit |
| C. | To provide guidance to the economy |
| D. | All of the above |
| Answer» E. | |
| 2343. |
An open source platform for mobile-to- mobile fund transfers without account details launched by NPCI is |
| A. | Unified Payment Interface |
| B. | Union of Payment Interface |
| C. | Payment Interface |
| D. | Unique Payment Interface |
| Answer» B. Union of Payment Interface | |
| 2344. |
In the summit of which of the following groups of nations, it was decided that all members should enforce Budget Discipline? |
| A. | G-8 |
| B. | OPEC |
| C. | European Union |
| D. | SAARC |
| Answer» B. OPEC | |
| 2345. |
AIIB is a new multilateral financial institution established to bring countries together to address the infrastructure needs across Asia. AIIB stands for |
| A. | Asian Infrastructure Investment Bureau |
| B. | Asian Infrastructure Investment Bank |
| C. | Association Infrastructure Investment Bank |
| D. | Asian International Investment Bank |
| Answer» B. Asian Infrastructure Investment Bank | |
| 2346. |
Which of the following regulators has directed banks to swap customer related information so that the frauds and defaults may be prevented in future? |
| A. | Bombay Stock Exchange (BSE) |
| B. | Indian Bank's Association (IBA) |
| C. | Securities & Exchange Board of India (SEBI) |
| D. | Reserve Bank of India (RBI) |
| Answer» E. | |
| 2347. |
"Doing Business" report is released by which of the following organisations every year? |
| A. | Asian Development Bank (ADB) |
| B. | World Bank |
| C. | International Monetary Fund (IMF) |
| D. | World Trade Organisation (WTO) |
| Answer» C. International Monetary Fund (IMF) | |
| 2348. |
The concept of Universal Banking was implemented in India after the recommendations of |
| A. | R.H. Khan Committee |
| B. | Dutta Committee |
| C. | P. Selvam Commttee |
| D. | None of the above |
| Answer» B. Dutta Committee | |
| 2349. |
By launching its initial public offering (IPO) on 23 January 2017, which of the following became India's first stock exchange to enter into the capital market? |
| A. | Bombay Stock Exchange |
| B. | National Stock Exchange of India |
| C. | India International Exchange |
| D. | None of the above |
| Answer» B. National Stock Exchange of India | |
| 2350. |
Which of the following states were exempted from mandatory investment norms for the National Small Savings Fund (NSSF) as announced by the Union Government on 18January, 2017? |
| A. | Arunachal Pradesh |
| B. | Delhi |
| C. | Kerala |
| D. | Uttar Pradesh |
| Answer» E. | |