This quiz works best with JavaScript enabled. Home > Banking > Banking Affairs > Banking Affairs – Quiz 69 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Banking Affairs Quiz 69 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. .....is an agreement where by an issuing Bank at the request of the importer (Buyer) undertakes to make payment to the exportor (Beneficiary) against stipulated documents. A) Bills of exchange. B) Letter of exchange. C) Letter of credit. D) Bill of entry. Show Answer Correct Answer: C) Letter of credit. 2. Which of the following organisations/agencies is actively involved in drafting the Union Budget of India? A) The Planning Commission. B) The Comptroller and Auditor General. C) Administrative staff of the Lok Sabha. D) Ministry of Finance. Show Answer Correct Answer: C) Administrative staff of the Lok Sabha. 3. Which of the following statements is true regarding Ombudsman Scheme for NBFC? A) Section 45L of the RBI Act, 1934 confers powers on RBI to notify such scheme. B) NBFCs having customer interface, with assets size of one billion rupees or above are eligible to be. C) The scheme is initially being introduced at the four metro centers. D) All of the above. Show Answer Correct Answer: D) All of the above. 4. Which of the following is called the Bankers' Bank in India? A) State Bank of India. B) Central Bank of India. C) NABARD. D) Reserve Bank of India. Show Answer Correct Answer: D) Reserve Bank of India. 5. Which of the following Rates/Ratio is not covered under the Monetary and Credit policy of the RBI? A) Bank Rate. B) Repo Rate. C) Cash Reserve Ratio. D) Exchange Rate of Foreign Currencies. Show Answer Correct Answer: D) Exchange Rate of Foreign Currencies. 6. What percent of annual interest should be paid by issuer firm to investor in case of delay in listing? A) 5%. B) 1%. C) 10%. D) 20%. Show Answer Correct Answer: B) 1%. 7. Which bank has launched the country's first contact less debit and credit cards on 7 January 2015? A) HDFC. B) SBI. C) ICICI. D) Yes Bank. Show Answer Correct Answer: C) ICICI. 8. In the Union Budget 2014-15, the govt. announced setting up of a commission to bring in reforms related to spending for achieving maximum output. What is the name given to this commission? A) Expensable Management Committee. B) Expenditure Management Commission. C) Expedia Management Commission. D) Expenditure Maximum Commision. Show Answer Correct Answer: B) Expenditure Management Commission. 9. What minimum pension will be given to every labourer as announced in the Union Budget 2019-20? A) Rs 5, 000 per year. B) Rs 1, 000 per year. C) Rs 1, 000 per month. D) Rs 500 per month. Show Answer Correct Answer: C) Rs 1, 000 per month. 10. The union government has announced a nationwide scheme .Rashtriya Gokul Mission. which aims to A) Eliminate diseases of cattle. B) Increase milk production. C) Curb slaughtering of cattle. D) Protect the indigenous breed of cows. Show Answer Correct Answer: D) Protect the indigenous breed of cows. 11. Which of the following types of accounts are known as "Demat Accounts"? A) Zero Balance Accounts. B) Accounts which are opened to facilitate repayment of a loan taken from the bank. No other business can be conducted from there. C) Accounts in which shares of various companies are traded in electronic form. D) Accounts which are operated through internet banking facility. Show Answer Correct Answer: C) Accounts in which shares of various companies are traded in electronic form. 12. The idea of providing factoring services was first thought of in India by which of the followings? A) Tandem Committee. B) Patel Committee. C) Malhotra committee. D) Vaghul committee. Show Answer Correct Answer: D) Vaghul committee. 13. Which of the following term is not used in Banking/Finance? A) Revenue. B) Epicenter. C) Commercial Papers. D) Consolidated Fund. Show Answer Correct Answer: B) Epicenter. 14. Which of the following is not a party of Bill of Exchange? A) The drawer. B) The drawee. C) The payee. D) The endorser. Show Answer Correct Answer: D) The endorser. 15. When does the asset legally belong to the purchaser under a hire purchase agreement? A) Final installment is paid. B) Final installment is paid and purchaser agrees to a legal option to buy the asset. C) On date of first installment in repayment. D) Purchaser agrees to legal option to buy the asset. Show Answer Correct Answer: B) Final installment is paid and purchaser agrees to a legal option to buy the asset. 16. Finance Commisson is included in of Indian Constitution. A) Article 340. B) Article 280. C) Article 360. D) Article 390. Show Answer Correct Answer: B) Article 280. 17. Formal merchant banking activity in India was originated in which of the following years? A) 1978. B) 1969. C) 1769. D) 1987. Show Answer Correct Answer: B) 1969. 18. A Direct lease, a sale and leaseback, and a Leveraged lease are all examples of which of the followings? A) Operating Leases. B) Financial Leases. C) Full-service Leases. D) Off-Balance Sheet" methods of financing. Show Answer Correct Answer: B) Financial Leases. 19. Which public sector bank had the account of the famous Jalianwala Bagh Committee? A) State bank of India. B) Central Bank of India. C) Punjab National Bank. D) Bank of India. Show Answer Correct Answer: C) Punjab National Bank. 20. The approach of 'Micro-Credit' or 'Banking with the poor' is comparatively a new concept in the field of rural credit. This approach has been tried very successfully in which of the following countries? A) India. B) China. C) Japan. D) Bangladesh. Show Answer Correct Answer: D) Bangladesh. ← 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