This quiz works best with JavaScript enabled. Home > Finance > Banking > Banking Affairs > Banking Affairs – Quiz 2 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Banking Affairs Quiz 2 (30 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. A cheque is considered as stale when if has been in circulation for A) More than forty eight hours. B) More than six months unless otherwise specified. C) More than one year. D) More than three months. Show Answer Correct Answer: D) More than three months. 2. What is the name of the new scheme announced by the Prime Minister Narendra Modi on Independence Day to help the poor in opening bank accounts, which will come with the facility of a debit card and an accidental insurance cover of Rs. 1 lakh? A) Prime Minister Poor Helping Hand Scheme. B) Pradhan Mantri Garibi Hatao Yojana. C) Pradhan Mantri Jan Dhan Yojana. D) Prime Minster Poor relief Yojana. Show Answer Correct Answer: C) Pradhan Mantri Jan Dhan Yojana. 3. 'The Decade of Action for Road safety' campaign by.....was launched in India recently. A) WTO. B) World Bank. C) UNO. D) SAARC Nations. Show Answer Correct Answer: C) UNO. 4. The type of lease that includes a third party, a lender, is called as which of the followings? A) Sale and leaseback. B) Leveraged lease. C) Direct leasing arrangement. D) Operating lease. Show Answer Correct Answer: B) Leveraged lease. 5. Who amongst the following is the Chairman of the 13th Finance Commission? [Vijaya Bank 2008] A) Vijay Kelkar. B) Bimal Jalan. C) Y V Reddy. D) C Rangarajan. Show Answer Correct Answer: A) Vijay Kelkar. 6. In India, the National Income is measured on the basis of A) Flow of goods only. B) Number of employed youth only. C) Volume of tax collected per annum. D) All of the above. Show Answer Correct Answer: D) All of the above. 7. The Economic Survey is compiled by the A) Central Board of Direct Taxes. B) Ministry of Home Affairs. C) Ministry of Finance. D) Ministry of Rural Development. Show Answer Correct Answer: C) Ministry of Finance. 8. When was the first phase of the India Post Payment bank inaugurated? A) 1st September 2018. B) 15th August 2017. C) 26th January 2018. D) 1st January 2017. Show Answer Correct Answer: A) 1st September 2018. 9. Which of the following terms is NOT used in Banking/Finance-related matters? A) Cheque Clearing. B) Letter of Credit. C) Discount Rate. D) Law of Motion. Show Answer Correct Answer: D) Law of Motion. 10. What do we call the banks which provide capital to the firms in the form of shares and engage in underwriting of stocks? A) Commercial Banks. B) Universal Banks. C) Merchant Banks. D) IFI. Show Answer Correct Answer: C) Merchant Banks. 11. A limited company is..... A) A registered company. B) In which shareholders possess the ownership limited to their paid up capital. C) In which shares are issued. D) A company of Govt. ownership. Show Answer Correct Answer: B) In which shareholders possess the ownership limited to their paid up capital. 12. Recently RBI issued new guidelines on loan restructuring of Non-banking Financial Companies (NBFCs). The guidelines were based on the recommendation of which Committee? A) Nachiket Mor Committee. B) Bimal Jalan Committee. C) Urijit Patel Committee. D) B. Mahapatra Committee. Show Answer Correct Answer: D) B. Mahapatra Committee. 13. With a view to facilitate payment of balance in the deposit account to the person named by the depositor without any hassles in the event of death of the account holder, the following facility was introduced for bank accounts in our country A) Indemnity. B) Guarantee. C) Nomination. D) Registration. Show Answer Correct Answer: C) Nomination. 14. Which of the following restrictions apply for opening BSBDA by banks for individuals? A) Age. B) Income. C) Amount. D) None of these. Show Answer Correct Answer: D) None of these. 15. Where does the headquarters of CRISIL situated? A) Delhi. B) Kolkata. C) Mumbai. D) Haryana. Show Answer Correct Answer: C) Mumbai. 16. Which of the following NBFCs are engaged in the principal business of financing physical assets? A) Investment Company. B) Asset Finance Company. C) Infrastructure Finance Company. D) Loan Companies. Show Answer Correct Answer: B) Asset Finance Company. 17. The main function of the IMF is A) To help solve balance-of-payments problems of member countries. B) To finance investment loans to developing countries. C) To act as private sector lending arm of the World Bank. D) To arrange international deposits from banks. Show Answer Correct Answer: A) To help solve balance-of-payments problems of member countries. 18. Credit rating is A) Not used in any bank. B) Used to rate the borrowers while giving advances. C) Used to calculate the number of excellent audit rated branches. D) Used to work out performance of the employees. Show Answer Correct Answer: A) Not used in any bank. 19. What is the maximum duration for which term money can be lent/borrowed? A) 15 days. B) 30 days. C) 1 day. D) 1 year. Show Answer Correct Answer: D) 1 year. 20. Maximum maturity days of holding commercial paper are A) 170 days. B) 5 days. C) 120 days. D) 270 days. Show Answer Correct Answer: D) 270 days. 21. Who is a very senior citizen? A) A person who is 65 years and above. B) A person who is 75 years and above. C) A person who is 80 years and above. D) A person who is 90 years and above. Show Answer Correct Answer: A) A person who is 65 years and above. 22. India's economic freedom score in 2014 stands at 5 5.7 and on the basis of it, India has been placed at.....rank in the list of Economic Freedom Index 2014. A) 121th. B) 120th. C) 118th. D) 119th. Show Answer Correct Answer: B) 120th. 23. Resident foreign currency account can open only for..... A) Regional Rural banks. B) Scheduled commercial banks. C) Public sector banks. D) Private sector Banks. Show Answer Correct Answer: B) Scheduled commercial banks. 24. Where is the headquarters of SIDBI located? A) Mumbai. B) Lucknow. C) Pune. D) Nagpur. Show Answer Correct Answer: B) Lucknow. 25. The panel headed by C. Rangarajan, former Chairman of PMEAC (Prime Minister's Economic Advisory Council), has dismissed the Suresh Tendulkar Committee report on estimating poverty. The report submitted by Rangarajan to Planning Minister Rao Inderjit Singh recently stated that the number of poor in India was much higher in 2011-12 at 29.5% of the population. What was the poverty figure stated for the same year in the Suresh Tendulkar Committee report, which was severely criticized for its findings? A) 20.25%. B) 38.20%. C) 21.90%. D) 29.50%. Show Answer Correct Answer: C) 21.90%. 26. Which among the following will settle the grievances of customers of banks? A) Local Courts. B) State Bank of India. C) Nationalised Banks. D) Banking Ombudsmen. Show Answer Correct Answer: D) Banking Ombudsmen. 27. Which Bank launches voice password facility for users? A) ICICI. B) Kotak Mahindra Bank. C) Axis. D) HDFC. Show Answer Correct Answer: A) ICICI. 28. Which of the following is not considered one among the loans under Retail Banking? A) Car loan. B) Housing loan. C) Personal loan. D) Infrastructure loan. Show Answer Correct Answer: D) Infrastructure loan. 29. Which one of the following is a source of non-tax revenue for Government of India? A) Entrance fee on museums. B) Excise duty on beverages. C) Octroi at cheek points on roads. D) Import duty on cars. Show Answer Correct Answer: A) Entrance fee on museums. 30. Banker-Customer relationship is often considered a fiduciary one. What is this relation based on? A) Contract. B) Faith. C) Commercial. D) Agent and principal. Show Answer Correct Answer: B) Faith. ← PreviousNext →Related QuizzesBanking QuizzesFinance QuizzesBanking Affairs Quiz 1Banking 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