Banking Affairs Quiz 121 (20 MCQs)

Quiz Instructions

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1. Which one of the following factors is taken into account to calculate the Balance of Payment (BoP) of a country?

Correct Answer: D) All of these.

2. Which of the following means 'indorsement in blank' of an instrumentnder section 16 of the Negotiable Instrument Act?

Correct Answer: B) Where the indorser writes his name only on the instrument.

3. The one-rupee note bears the signature of.....

Correct Answer: C) Finance Secretary.

4. Who among the following is the primary regulator of Banking business?

Correct Answer: A) Reserve Bank of India.

5. The arrangement under which banks sell insurance products acting as the agents of the respective companies is called the

Correct Answer: B) Bancassurance Model.

6. What does FSDC stand for?

Correct Answer: B) Financial Stability and Development Council.

7. .....has been set up for exchange of credit information among its members?

Correct Answer: B) CIBIL.

8. Which committee proposed to raise the compulsory insurance of bank deposits up to 5 Lakhs?

Correct Answer: C) Damodaran.

9. Indian Commercial Banks are categorized into

Correct Answer: D) All of the above.

10. Which one of the following institutions publish the report of 'World Economic Outlook'?

Correct Answer: A) IMF.

11. Which one of the following items is not included in the current account of India's balance of payments?

Correct Answer: A) Short-term commercial borrowings.

12. What is 'STT'?

Correct Answer: B) Securities Transaction tax.

13. Which of these committees reviewed the financial position of all RRBs in 2010 and recommended for recapitalization?

Correct Answer: D) Chakrabarty Committee.

14. Which was the first RRB to be set up in the Eastern Region of India?

Correct Answer: B) Gour Gramin Bank.

15. In Negotiable Instruments Act, the Bill of Exchange is covered under which section?

Correct Answer: D) Section 5.

16. A foreign bank is one

Correct Answer: C) Which is incorporated outside India.

17. The main business of banks is to accept deposits from the public. However, a bank can refuse to permit opening an account on behalf of.....:

Correct Answer: A) Undesirable persons.

18. Goods and Services Tax (GST) would replace which of the following taxes levied at present?

Correct Answer: D) Value added tax (VAT).

19. What does the letter V denotes in the term VAT as used in banking world?

Correct Answer: D) Value.

20. Which was the first Cooperative Bank established in India?

Correct Answer: C) Anyonya Co-operative Bank Limited.