This quiz works best with JavaScript enabled. Home > Banking > Banking Affairs > Banking Affairs – Quiz 15 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Banking Affairs Quiz 15 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. The first decimal issues of coins in 1950 in India consisted of A) 1, 2 and 5 paise. B) 1, 2, 5 and 10 paise. C) 1, 2, 5, 10 and 25 paise. D) 1, 2, 5, 10, 25 and 50 paise along with Rs. 1. Show Answer Correct Answer: D) 1, 2, 5, 10, 25 and 50 paise along with Rs. 1. 2. Which of the following is issued by RBI? A) Currency notes. B) Coins. C) Both 1 and 2. D) None of the above. Show Answer Correct Answer: A) Currency notes. 3. What is full form of SIP in mutual funds? A) Seller Investment Plan. B) Systematic Investment Plan. C) System Involvement Plan. D) None of the Above. Show Answer Correct Answer: B) Systematic Investment Plan. 4. When did RBI demonetise 25 paise coins in the country? (Vijaya Bank 2008) A) 2010. B) 2008. C) 2011. D) 2009. Show Answer Correct Answer: C) 2011. 5. Every Banking company is required to use the word Bank in its name and no company other than a Banking company can use the words Bank, Banker or Banking as a part of its name as per: A) Section 7 of Banking Regulation Act. B) Section 7 of RBI Act. C) Section 7 of SEBI Act. D) Section 7 of Nationalization Act. Show Answer Correct Answer: A) Section 7 of Banking Regulation Act. 6. RBI Provides.....for meeting day-to-day receipt and expenditure mismatch to both Central and State Governments. A) Treasury bills. B) Ways and Means advance. C) Date and securities. D) None of these. Show Answer Correct Answer: B) Ways and Means advance. 7. NEFT means A) National Electronic Funds Transfer system. B) Negotiated Efficient Fund Transfer system. C) National Efficient Fund Transfer solution. D) Non Effective Fund Transfer system. Show Answer Correct Answer: A) National Electronic Funds Transfer system. 8. Which of the following is NOT a Public Sector Unit? [Indian Overseas Bank 2011] A) HPCL. B) Yes Bank. C) HAL. D) SAIL. Show Answer Correct Answer: B) Yes Bank. 9. The concept of micro finance was launched in which of the following countries initially? A) Bangladesh. B) India. C) Egypt. D) Israel. Show Answer Correct Answer: A) Bangladesh. 10. Near Money is defined as an..... A) Asset which is not usable as a medium of exchange but has as store of value. B) Asset that serves as a temporary medium of exchange and has a store of value. C) Asset which adequately fulfill Store of value function and is readily convertible into a medium of exchange but is not itself a medium of exchange. D) Asset which has a store of value & 100% liquidity. Show Answer Correct Answer: C) Asset which adequately fulfill Store of value function and is readily convertible into a medium of exchange but is not itself a medium of exchange. 11. What are the advantages of BBPS? A) Multiple Payment Modes. B) Payment of bill anywhere and anytime. C) Timely & guaranteed settlements between parties. D) All of the above. Show Answer Correct Answer: D) All of the above. 12. Which Bank is the apex bank of USA? A) Citi Bank. B) Bank of America. C) Federal Reserve. D) Central Bank of USA. Show Answer Correct Answer: C) Federal Reserve. 13. Which of the following terms is not related with banking/finance? A) Call Option. B) Coupon. C) Stock Splits. D) Ablation. Show Answer Correct Answer: D) Ablation. 14. Validity period of "Demand draft" is A) 6 months. B) 12 months. C) 3 months. D) 8 months. Show Answer Correct Answer: C) 3 months. 15. Which of the following is one of the measures of economic growth of a country? A) Volume of direct investment made by foreign countries. B) Number of companies listed on the stock exchange. C) Gross domestic product of the nation. D) Number of foreign nationals working in a country. Show Answer Correct Answer: C) Gross domestic product of the nation. 16. Increase in Fiscal Deficit leads to..... A) No change in BOP. B) Increase in Balance of Payments. C) Reduction in Balance of Payments. D) A and B. Show Answer Correct Answer: C) Reduction in Balance of Payments. 17. State Bank of India started merchant banking in whichof the following years? A) 1974. B) 1978. C) 1973. D) 1980. Show Answer Correct Answer: C) 1973. 18. Which of the following schemes has been launced specifically for helping Senior Citizens to avail loan by mortgage of their residential property? A) English Mortgage Scheme. B) Senior Capital Loan Scheme. C) Reverse Mortgage Loan Scheme. D) DEMAT Account Scheme. Show Answer Correct Answer: C) Reverse Mortgage Loan Scheme. 19. On 20 August 2014 the Finance Ministry ordered a forensic audit to be done at the branches of two banks in view of the reports of misappropriation of funds worth Rs. 436 crore. Which two banks are involved in this matter? A) Allahabad bank and Dena Bank. B) Dena Bank and Oriental Bank of Commerce (OBC). C) Punjab National Bank and Punjab Sindh Bank. D) Union Bank of India and Oriental Bank of Commerce (OBC). Show Answer Correct Answer: B) Dena Bank and Oriental Bank of Commerce (OBC). 20. The RBI's methods of credit control may be broadly divided into..... A) Quantitative and Qualitative. B) Open and Close. C) Monetary and Fiscal. D) Rural and Urban. Show Answer Correct Answer: A) Quantitative and Qualitative. ← PreviousNext →Related QuizzesBanking QuizzesBanking Affairs Quiz 1Banking Affairs Quiz 2Banking Affairs Quiz 3Banking Affairs Quiz 4Banking Affairs Quiz 5Banking Affairs Quiz 6Banking Affairs Quiz 7Banking Affairs Quiz 8Banking Affairs Quiz 9 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books