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.
| 2451. |
Name the body of 'eminent' professionals and officials, which will replace the Appointments Board for appointment of Whole-time Directors as well as non- Executive Chairman of Public Sector Banks.? |
| A. | NITI Aayog |
| B. | NIYATAM |
| C. | Bank Board Bureau |
| D. | Bureau of Banking Standards |
| E. | None of these |
| Answer» D. Bureau of Banking Standards | |
| 2452. |
Banking Ombudsman is appointed for |
| A. | handling and redressal of banks complaints against customers' behaviour |
| B. | handling and redressal of customers' complaints against deficiency in certain banking services |
| C. | providing decision on important banking operations like - CRR, SLR and MSF etc. |
| D. | All of the above |
| E. | None of these |
| Answer» C. providing decision on important banking operations like - CRR, SLR and MSF etc. | |
| 2453. |
The Banking Ombudsman Scheme was introduced under: |
| A. | Banking Regulation Act, 1935 |
| B. | Banking Regulation Act /1949 |
| C. | Banking Regulation Act, 1985 |
| D. | Banking Regulation Act, 1998 |
| E. | None of these |
| Answer» C. Banking Regulation Act, 1985 | |
| 2454. |
The first regional rural bank was |
| A. | Prathama Grameen Bank |
| B. | Allahabad UP Gramin Bank |
| C. | Arunachal Pradesh Rural Bank |
| D. | Assam Gramin Vikash Bank |
| E. | None of these |
| Answer» B. Allahabad UP Gramin Bank | |
| 2455. |
Which of the following is a primary function of banks? |
| A. | Collection and payment of cheques, rent, interest etc on behalf of their customers |
| B. | Buying, selling and keeping in safe custody, the securities on behalf of their customers |
| C. | Acting as trustee and executors of the property of their customers on their advice |
| D. | Remitting money from one place to the other through bank drafts or mailor telegraphic transfers |
| E. | Accepting deposits |
| Answer» F. | |
| 2456. |
Transfer of any instrument to another person by signing on its back or face or on a slip of paper attached to it is known as |
| A. | promissory note |
| B. | bill of lading |
| C. | bill of exchange |
| D. | endorsement |
| E. | None of these |
| Answer» E. None of these | |
| 2457. |
When banks accept fixed sum of money from an individual for a definite term and pay on maturity with interest, the deposit is known? |
| A. | Term deposit |
| B. | Demand deposit |
| C. | Bond |
| D. | Mortagage |
| E. | Advance |
| Answer» B. Demand deposit | |
| 2458. |
How many banks are there in public sector at present? |
| A. | 28 |
| B. | 27 |
| C. | 19 |
| D. | 20 |
| E. | None of these |
| Answer» C. 19 | |
| 2459. |
The main function of IMF is to |
| A. | give financial investment loans to developing countries |
| B. | act as a private sector lending arm of the World Bank |
| C. | help of solve balance of payment problems of member countries |
| D. | arrange international deposits from banks |
| E. | None of these |
| Answer» D. arrange international deposits from banks | |
| 2460. |
Which of the following methods is being adopted by Banks for calculating and applying interest on Savings Bank accounts? |
| A. | On monthly products based on minimum balance between 10th and last working day. |
| B. | Daily balance is counted and interest is paid accordingly |
| C. | On average quarterly balance. |
| D. | On average half yearly balance. |
| E. | None of the above. |
| Answer» C. On average quarterly balance. | |
| 2461. |
For availment of refinance from National Housing Bank, scheduled commercial bank has to satisfy which of the following conditions? |
| A. | The capital adequacy ratio of the banks should be as per the norms prescribed by the Reserve Bank of India |
| B. | The net non-performing assets to the net advances of the bank should not exceed 10% |
| C. | The scheduled commercial bank has earned profit for the last 2 years |
| D. | All of the above |
| E. | None of these |
| Answer» E. None of these | |
| 2462. |
Travellers cheque is |
| A. | a supplementary credit card |
| B. | a cheque issued by a bank or finance institution which functions as capital |
| C. | a certificate issued by a bank or finance institution in lieu of cash |
| D. | a cheque issued by a bank or finance institution which functions as a bond |
| E. | a prepaid instrument issued by a bank or finance institution which can be substitute of cash |
| Answer» F. | |
| 2463. |
An account in which trading of shares in their electronic form is done, is known as |
| A. | D-mat account |
| B. | NRI account |
| C. | NRIO account |
| D. | Current account |
| E. | None of these |
| Answer» B. NRI account | |
| 2464. |
Which of the following cannot be called as a value added service offered by a bank? |
| A. | Special accounts for poor sections of society |
| B. | Accident insurance cover |
| C. | Instant credit of outstation cheques |
| D. | Free cheque books |
| E. | All of these |
| Answer» C. Instant credit of outstation cheques | |
| 2465. |
In a bank which of the following are the usual types of Deposits accounts? |
| A. | Savings accounts. Electricity accounts and Insurance Premium accounts |
| B. | Fixed deposits. Post office Savings Bank accounts and Current Deposit accounts |
| C. | Current Accounts, Saving Bank accounts and Term Deposit accounts |
| D. | Loan accounts. Savings Bank accounts and Term Deposit accounts |
| E. | Current Bill accounts and Term Deposits accounts |
| F. | None of these |
| Answer» D. Loan accounts. Savings Bank accounts and Term Deposit accounts | |
| 2466. |
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 |
| E. | None of these |
| Answer» B. Instrument of Monetary Policy | |
| 2467. |
External Commercial Borrowings (ECBs) form part of |
| A. | Current Account |
| B. | Capital Account |
| C. | Balance of Payments |
| D. | None of these |
| Answer» C. Balance of Payments | |
| 2468. |
Which of the following bodies is the regulator of Capital Market? |
| A. | Reserve Bank of India (RBI) |
| B. | Securities and Exchange Board of India (SEBI) |
| C. | SBI |
| D. | NABARD |
| E. | None of these |
| Answer» D. NABARD | |
| 2469. |
Zero balance account is generally allowed to be opened for |
| A. | salaried class |
| B. | businessmen |
| C. | foreign customers |
| D. | children |
| E. | senior citizens |
| Answer» B. businessmen | |
| 2470. |
The rate of interest payable on a bank deposits is determined by |
| A. | Indian Bank's Association |
| B. | the bank concerned |
| C. | RBI |
| D. | Finance Ministry |
| E. | None of these |
| Answer» C. RBI | |
| 2471. |
The maximum period for which a fixed deposit can be accepted by a commercial bank is |
| A. | 10 years |
| B. | 15 years |
| C. | No limit |
| D. | 8 years |
| E. | None of these |
| Answer» B. 15 years | |
| 2472. |
Which of the following statements about: UCBs undertaking insurance business is/ are correct? |
| A. | No UCB should undertake insurance agency business without obtaining its prior permission |
| B. | The Reserve Bank has allowed all primary (Urban) co-operative banks to undertake insurance business on a referral basis, without any risk participation through their network of branches |
| C. | The banks need not obtain prior approval of the Reserve Bank to undertake referral business |
| D. | All of the above |
| E. | None of these |
| Answer» F. | |
| 2473. |
In July 1969, how many commercial banks were nationalised? |
| A. | 13 |
| B. | 14 |
| C. | 15 |
| D. | 16 |
| E. | 20 |
| Answer» C. 15 | |
| 2474. |
Small savings Scheme like National Savings Certificates, Public Provident Fund, and Monthly Income Schemes are popular among the salaried people. Which financial institutions manage these schemes? |
| A. | Public sector banks |
| B. | Commercial banks |
| C. | Post offices |
| D. | Co-operative banks |
| E. | Private sector bank |
| Answer» D. Co-operative banks | |
| 2475. |
In case a depositor is a sole proprietor and holds deposits in the name of the proprietory concern as well as in the individual capacity, the maximum insurance cover is available up to |
| A. | Rs. 100000 |
| B. | Rs. 200000 |
| C. | Rs. 500000 |
| D. | All of these |
| E. | None of these |
| Answer» B. Rs. 200000 | |
| 2476. |
In case of FCNR (2) Scheme, the period for fixed deposits is |
| A. | as applicable to resident accounts |
| B. | for terms not less than 1 year and not more than 5 years |
| C. | for terms not less than 2 years and not more than 6 years |
| D. | at the discretion of the bank |
| E. | None of the above |
| Answer» C. for terms not less than 2 years and not more than 6 years | |
| 2477. |
A bank's 'fixed deposit' is also referred to as |
| A. | term deposit |
| B. | saving bank deposit |
| C. | current deposit |
| D. | demand deposit |
| E. | None of these |
| Answer» B. saving bank deposit | |
| 2478. |
Money deposited with the bank becomes a debt due |
| A. | from the banker |
| B. | from the customer |
| C. | to the customer |
| D. | Either [a] and [b] |
| E. | None of these |
| Answer» C. to the customer | |
| 2479. |
An institution which accepts deposits, makes business loans and offers related services is called |
| A. | Saving bank |
| B. | Commercial bank |
| C. | Investment bank |
| D. | Development bank |
| E. | Central bank |
| Answer» C. Investment bank | |
| 2480. |
The commercial banking system in India consists of |
| A. | nationalised banks and private sector banks |
| B. | scheduled and non-scheduled banks |
| C. | regional rural banks. Co-operative banks land development banks |
| D. | All of the above |
| E. | None of these |
| Answer» C. regional rural banks. Co-operative banks land development banks | |
| 2481. |
While discussing investments, there is mention of short-term government security. What is this type of investment known as? |
| A. | Debenture |
| B. | Mutual fund |
| C. | Treasury bill |
| D. | Share |
| E. | All of these |
| Answer» D. Share | |
| 2482. |
Under Banking Companies Acts of 1970 and 1980, what percentage of equity shares can be offered by public sector banks to public? |
| A. | 50 |
| B. | 52 |
| C. | 49 |
| D. | 53 |
| E. | 54 |
| Answer» D. 53 | |
| 2483. |
A money deposited in a bank that cannots be withdrawn for a present fixed period of time is known as a |
| A. | term deposit |
| B. | checking account |
| C. | savings bank deposit |
| D. | no frills account |
| E. | current deposit |
| Answer» B. checking account | |
| 2484. |
Mahesh and Suresh are friends aged 14 and 15 respectively. They want to open a joint account in your bank. You will |
| A. | allow them to open a joint account to be operated jointly |
| B. | allow them to open a joint account with operating instructions either or survivor |
| C. | allow them to open a joint account with operating instructions former or survivor |
| D. | allow them to open a joint account with operating instructions any one or survivor |
| E. | None of these |
| Answer» B. allow them to open a joint account with operating instructions either or survivor | |
| 2485. |
Which of the following statements is incorrect regarding a minor? |
| A. | A minor is a person who has not attained the gas of 18 |
| B. | Minor does not have legal capacity to enter into a contract |
| C. | A current account in the name of minor can be opened when guardian of the minor operates this account |
| D. | A minor's account should never be allowed to be overdrawn |
| E. | In the event of death of a minor, the money will be payable to the guardian |
| Answer» D. A minor's account should never be allowed to be overdrawn | |
| 2486. |
Consider the following statements: I. If the beneficiary of a cheque has lost the cheque he can instruct the paying bank to stop payment of the cheque without waiting for the account holder's instruments. II. While outsourcing the only consideration should be cost savings. Which of the statements given above is/are correct? |
| A. | Only I |
| B. | Only II |
| C. | Both I and II |
| D. | Neither I nor II |
| E. | Either I or II |
| Answer» E. Either I or II | |
| 2487. |
Which of the following is not required for opening a bank account? |
| A. | Identity proof |
| B. | Address proof |
| C. | Recent photographs |
| D. | Domicile certificate |
| E. | None of the above |
| Answer» E. None of the above | |
| 2488. |
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. | maximise total profits |
| C. | maximise total production |
| D. | sell the goods at subsidised cost |
| E. | All of these |
| Answer» E. All of these | |
| 2489. |
Kisan Credit Card is an effective way of reaching out to the farmers by the banks. What assistance does the farmer receive in this way? |
| A. | Credit facility for crops etc 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 | |
| 2490. |
'Unit Banking System' is that system where an individual bank undertakes the banking business |
| A. | through a single office |
| B. | through a few branches operating within a limited area |
| C. | All of the above |
| D. | None of these |
| Answer» D. None of these | |
| 2491. |
BCSBI stands for |
| A. | Banking Codes and Standards Board of India |
| B. | Banking Credit and Standards Board of India |
| C. | Banking Codes and Service Board of India |
| D. | Banking Credit and Service Board of India |
| E. | None of the above |
| Answer» B. Banking Credit and Standards Board of India | |
| 2492. |
Which of the following is not the part of the scheduled banking structure in India? |
| A. | Moneylenders |
| B. | Public sector banks |
| C. | Private sector banks |
| D. | Regional rural banks |
| E. | State co-operative banks |
| Answer» B. Public sector banks | |
| 2493. |
Which of the following are the scheduled banks? |
| A. | State Bank of Mauritius Limited |
| B. | HDFC Bank Limited |
| C. | ICICI Bank |
| D. | None of the above |
| E. | All of the above |
| Answer» F. | |
| 2494. |
Match the following: List I List II A. Allahabad Bank 1. Delhi B. Central Bank of India 2. Kolkata C. Indian Overseas Bank 3. Mumbai D. Punjab National Bank 4. Chennai Codes: |
| A. | A-2 B-3 C-4 D-1 |
| B. | A-4 B-3 C-2 D-1 |
| C. | A-4 B-3 C-2 D-1 |
| D. | A-4 B-1 C-3 D-2 |
| E. | A-1 B-2 C-3 D-4 |
| Answer» C. A-4 B-3 C-2 D-1 | |
| 2495. |
How many banks are presently nationalized banks in India? |
| A. | 14 |
| B. | 15 |
| C. | 19 |
| D. | 20 |
| E. | 6 |
| Answer» E. 6 | |
| 2496. |
The paid-up capital of non-scheduled bank is less than |
| A. | Rs. 5 lakh |
| B. | Rs. 10 lakh |
| C. | Rs. 12 lakh |
| D. | Rs. 15 lakh |
| E. | None of these |
| Answer» B. Rs. 10 lakh | |
| 2497. |
Special drawing right is an international practice of drawing funds. Which of the following institutions control this special finding facility? |
| A. | World Bank |
| B. | Asian Development Bank |
| C. | Federal Reserve |
| D. | European Common Market |
| E. | All of the above |
| Answer» B. Asian Development Bank | |
| 2498. |
How many banks are presently associates of State Bank of India? |
| A. | 8 |
| B. | 7 |
| C. | 6 |
| D. | 5 |
| E. | 4 |
| Answer» E. 4 | |
| 2499. |
Which of the following can be identified as a demat account? |
| A. | Accounts which can have zero balance |
| B. | Accounts opened to facilitate repayment of loan |
| C. | Accounts in which shares of companies are traded in electronic form |
| D. | Accounts maintained by mutual fund companies for investors |
| E. | None of the above |
| Answer» D. Accounts maintained by mutual fund companies for investors | |
| 2500. |
Match the following: List I List II A. Agricultural Sector 1. Unit Fund B. Industrial Sector 2. Enacted by Parliament in 1976 C. Unorganised Sector 3. NABARD D. RRB 4. Public Issue Codes: |
| A. | A-3 B-4 C-1 D-2 |
| B. | A-4 B-3 C-2 D-1 |
| C. | A-1 B-2 C-3 D-4 |
| D. | A-3 B-2 C-4 D-1 |
| E. | A-2 B-3 C-1 D-4 |
| Answer» B. A-4 B-3 C-2 D-1 | |