This quiz works best with JavaScript enabled. Home > Banking > Banking Affairs > Banking Affairs – Quiz 61 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Banking Affairs Quiz 61 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. How many Local Area banks exist at present? A) 10. B) 4. C) 7. D) 34. Show Answer Correct Answer: B) 4. 2. The balance of trade is given by A) Income receipts minus income payments on investments. B) The balance of unilateral transfers. C) Merchandise exports plus service exports minus the sum of merchandise and service imports. D) The balance on current account. Show Answer Correct Answer: D) The balance on current account. 3. Which among the following NBFC are not excluded from the Ombudsman scheme for NBFC? A) Deposit accepting NBFCs. B) NBFC-IFC. C) Core Investment Company. D) IDF-NBFC. Show Answer Correct Answer: A) Deposit accepting NBFCs. 4. From the given options, bring out the one which is not a function/power of Reserve Bank of India? A) To assume the responsibility meeting directly or indirectly all reasonable demands for accommodation. B) To hold cash reserves of the commercial banks and make available financial accommodation to them. C) To enjoy monopoly of the note issue. D) To assume responsibility of all banking operations of the government. Show Answer Correct Answer: A) To assume the responsibility meeting directly or indirectly all reasonable demands for accommodation. 5. The earliest efforts in the direction of setting up special land mortgage banks were made in A) WestBengal when thefirst 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 these. Show Answer Correct Answer: B) In Punjab when the first Co-operative Land Mortgage Bank was organised in Jhang in 1920. 6. Public Credit Registry will have data loans granted by which of the following institutions? A) NBFC. B) MFI. C) Loans form Domestic Market. D) All of the above. Show Answer Correct Answer: D) All of the above. 7. A loan granted for short-term crops will be treated as NPA, if the instalment of principal or interest thereon or both remain overdue for.....crop season(s). A) One. B) Two. C) Three. D) Four. Show Answer Correct Answer: B) Two. 8. Which of the following is another name for Bank of Sweden Prize? A) Noble Prize for Literature. B) Noble Prize for Peace. C) Man Booker Prize. D) None of these. Show Answer Correct Answer: D) None of these. 9. The rate at which Banks borrow money from the Reserve Bank is called..... A) Repo rate. B) Reverse repo rate. C) Bank rate. D) Base rate. Show Answer Correct Answer: A) Repo rate. 10. When did the Banking Regulation Act, 1949 become applicable to the state of Jammu & Kashmir? A) 1949. B) 1970. C) 1956. D) 1966. Show Answer Correct Answer: C) 1956. 11. The provisions contained in section 138 of the negotiable instruments act 1881 shall A) Be attracted whether the cheques is ante-dated or post-dated provided it is presented within 3 months of the date of cheques or the period of validity, whichever, is earlier. B) Not be attracted if the cheques is ante-dated. C) Not be attracted if the cheques is post-dated. D) All of the above. Show Answer Correct Answer: A) Be attracted whether the cheques is ante-dated or post-dated provided it is presented within 3 months of the date of cheques or the period of validity, whichever, is earlier. 12. Which of the following are the chacteristics of a Mortgage Loan? A) It is secured against, immovable or fixed property. B) It is a long-term loan in nature. C) It is repaid in small monthly installments along with interest. D) All of the Above. Show Answer Correct Answer: D) All of the Above. 13. The Reserve Bank of India has directed all the banks to ensure that the names of their customers, individuals or corporates, do not appear in any list published by the Security Council Committee. This act/directive of the RBI is to ensure which of the following? A) To ensure that the bank loans/advances taken by the individuals/organizations are used only in those activities for which they are taken. B) To ensure that money deposited in the bank has not come from unknown and unauthorized sources. C) To ensure that no one visits a foreign nation for any illegal activity by purchasing foreign currency from a bank. D) To ensure that Indians do not go to a nation where they are being targeted for racial discrimination. Show Answer Correct Answer: C) To ensure that no one visits a foreign nation for any illegal activity by purchasing foreign currency from a bank. 14. Which one among the following has not started commercial banking? A) ICICI. B) SIDBI. C) IDBI. D) UTI. Show Answer Correct Answer: B) SIDBI. 15. A significant decrease in the demand for loans will force Banks to..... A) Adjust their portfolios. B) Sell securities to the central Bank. C) Resort to borrowings. D) Raise the prime lending rate. Show Answer Correct Answer: A) Adjust their portfolios. 16. Government securities are considered liquid because they are . A) Backed by the government treasury . B) Convertible into the other types of saving deposits. C) Stable in value. D) Quickly & easily Marketable. Show Answer Correct Answer: C) Stable in value. 17. Stock exchange securities do not include..... A) Debentures of companies. B) Small debentures issued by port trusts. C) Government promissory note. D) Participation certificates. Show Answer Correct Answer: D) Participation certificates. 18. Who amongst the following is the Chairman of the 13th Finance Commission? A) Bimal Jalan. B) Y V Reddy. C) C Rangarajan. D) Vijay Kelkar. Show Answer Correct Answer: D) Vijay Kelkar. 19. When did Payment and Settlement Systems Act, 2007 (PSS Act, 2007) came into force? A) 12th August 2008. B) 12th September 2008. C) 12th August 2009. D) 12th December 2007. Show Answer Correct Answer: A) 12th August 2008. 20. SWIFT is a network for banks to exchange information. What is the expanded form? A) Safe window for international transactions. B) Secured worldwide international transactions. C) Society for worldwide interbank financial telecommunications. D) All of the above. Show Answer Correct Answer: C) Society for worldwide interbank financial telecommunications. ← 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