This quiz works best with JavaScript enabled. Home > Finance > Banking > Banking Affairs > Banking Affairs – Quiz 51 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Banking Affairs Quiz 51 (30 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Corporation tax..... A) Is levied and appropriated by the states. B) Is levied by the union and collected and appropriated by the states. C) Is leveid by the union and shared by the union and the states. D) Is levied by the union and belongs to it exclusively. Show Answer Correct Answer: D) Is levied by the union and belongs to it exclusively. 2. The Purchasing Managers' Index (PMI) is a venture of? A) EXIM Bank of India. B) HDFC. C) ICICI. D) HSBC. Show Answer Correct Answer: D) HSBC. 3. Who or what is a person or institution designated by a bond issuer as the official representative of the bondholders? A) Debt trustee. B) Debenture. C) Bond trustee. D) None of the above. Show Answer Correct Answer: C) Bond trustee. 4. Interest payable on savings bank accounts is [IBPS 2011] A) Regulated by RBI. B) Regulated by State Governments. C) Regulated by Central Government. D) Not regulated by RBI. Show Answer Correct Answer: A) Regulated by RBI. 5. Which of the following statement is/are true about fiat money? A) Fiat money includes physical token like certificates. B) Fiat money's value is not derived from any intrinsic value are relative value is based only on government order. C) Fiat money can be converted in to valuable commodity (like gold). D) None of these. Show Answer Correct Answer: B) Fiat money's value is not derived from any intrinsic value are relative value is based only on government order. 6. Foreign Exchange Rates in India are determined by..... A) RBI. B) SEBI. C) Planning Commission. D) Market Forces of demand/supply. Show Answer Correct Answer: D) Market Forces of demand/supply. 7. The Deposit insurance facility provided by the DICGC is not available for which of the following A) GIC. B) NBFCs. C) SIDBI. D) LIC. Show Answer Correct Answer: B) NBFCs. 8. Who amongst the following has suggested to the banks in India to give details of fund transfers to customers via SMS/E-mails? A) Reserve Bank of India (RBI). B) India Banks Association (IBA). C) Indian Institute of Banking and Finance. D) Securities and Exchange Board of India. Show Answer Correct Answer: A) Reserve Bank of India (RBI). 9. Credit which is available at low rates of Interest is defined as..... A) Fiat money. B) Hot money. C) Token money. D) Cheap money. Show Answer Correct Answer: D) Cheap money. 10. To use smart cards/debit cards/credit cards for the purchase of an item or for payment of a service at a merchant's store, the card has to be swiped in a terminal known as A) Point of sale terminal. B) Real time terminal. C) Shopping terminal. D) All of the above. Show Answer Correct Answer: A) Point of sale terminal. 11. When was UPI service launched? A) 2019. B) 2018. C) 2017. D) 2016. Show Answer Correct Answer: D) 2016. 12. The Bank of Japan (BOJ) and the Reserve Bank of India (RBI) recently agreed to expand the amount of the Bilateral Swap Agreement (BSA) to A) 15 billion dollars. B) 75 billion dollars. C) 50 billion dollars. D) 35 billion dollars. Show Answer Correct Answer: C) 50 billion dollars. 13. Which of the following efforts fall under Financial inclusion plan of RBI/Government? A) Nationalization of banks. B) Public Sector Lending targets. C) Zero Balance accounts. D) All of the above. Show Answer Correct Answer: D) All of the above. 14. National Food for Work Programme was launched in..... A) 2010. B) 2001. C) 2008. D) 2004. Show Answer Correct Answer: D) 2004. 15. Which of the following is NOT a source of funds of a commercial bank? A) Capital. B) Call money. C) Deposits. D) Cash reserves with RBI. Show Answer Correct Answer: D) Cash reserves with RBI. 16. The first public sector bank in India which obtained license for Internet Banking from RBI is..... A) Corporation Bank. B) Oriental Bank of Commerce. C) State Bank of India. D) Punjab National Bank. Show Answer Correct Answer: D) Punjab National Bank. 17. These days RBI uses Selective credit control measures rather infrequently because of: A) Deregulation of functions. B) Autonomy given to banks. C) Comfortable liquidity. D) All the above. Show Answer Correct Answer: D) All the above. 18. All Inter-Bank Funds Transfer System, where funds are transferred as and when the transactions are triggered, is called A) Bill payment service. B) Mobile banking. C) Real time gross settlement. D) Internet banking. Show Answer Correct Answer: C) Real time gross settlement. 19. Mortgage is a [IBPS 2011] A) Facility on immovable property for a loan given by a bank. B) Security on movable property for a loan given by a bank. C) Concession on immovable property for a loan given by a bank. D) Security on immovable property for a loan given by a bank. Show Answer Correct Answer: D) Security on immovable property for a loan given by a bank. 20. MSME is defined under which act? A) MSME Act, 2001. B) MSMED Act, 2006. C) MSMED Act, 1999. D) MSME Act, 2004. Show Answer Correct Answer: B) MSMED Act, 2006. 21. The usual deposit accounts of banks are [IBPS 2011] A) Current accounts, electricity accounts and insurance premium accounts. B) Current accounts, post office savings bank accounts and term deposit accounts. C) Loan accounts, savings bank accounts and term deposit accounts. D) Current accounts, savings bank accounts and term deposit accounts. Show Answer Correct Answer: D) Current accounts, savings bank accounts and term deposit accounts. 22. Non Performing Assets are those assets which are overdue for a period of more than? A) 90 days in interest and/or installment in term of loan. B) 90 days out of order in case of over draft/cash credit. Bills purchased and Bills discounted. C) 2 harvest seasons for advances for cultivation of short duration crops. D) All of the above. Show Answer Correct Answer: D) All of the above. 23. What was the primary objective of Sukhmoy Chakravarty Committee formed in 1982? A) To form guidelines for opening of Private Sector Banks. B) To consider merging of all cooperative banks. C) To assess the functioning of the Indian Monetary system. D) None of the above. Show Answer Correct Answer: C) To assess the functioning of the Indian Monetary system. 24. Bank draft is a..... A) Instruction to a banker to collect a customer's debt. B) Cheque which a bank draws itself. C) Instruction not to honour a stop payment. D) Letter from the bank. Show Answer Correct Answer: B) Cheque which a bank draws itself. 25. When banks make advances to limited companies against their assets, the required forms are to be presented to the Registrar companies within.....from the date of execution. A) 1 month. B) 2 months. C) 30 days. D) 21 days. Show Answer Correct Answer: C) 30 days. 26. Banking Ombudsman is a senior official appointed by the RBI to redress customer complaint specified under which clause of the Banking Ombudsman Scheme 2006? A) Clause 6. B) Clause 8. C) Clause 5. D) Clause 7. Show Answer Correct Answer: B) Clause 8. 27. Which of the following are loans of very small amounts given to low income groups or poor household? A) Simple credit. B) Rural credit. C) No Frills Loan. D) Micro credit. Show Answer Correct Answer: D) Micro credit. 28. What is the primary objective of DICGC? A) Protect the interest of small depositors. B) Protect the bank to fail. C) Protect the large corporate from going bankrupt. D) All of the above. Show Answer Correct Answer: A) Protect the interest of small depositors. 29. The basic aim of Lead Bank Scheme is that A) Big banks should try to open offices in each district. B) There should be stiff competition among the various nationalised banks. C) Individuals banks should adopt particular districts for intensive development. D) All the banks should make intensive efforts to mobilise deposits. Show Answer Correct Answer: C) Individuals banks should adopt particular districts for intensive development. 30. Which one of the following is not an objective of fiscal policy of Indian Government? A) Regulation of Inter-State-trade. B) Equitable distribution of wealth & income. C) Price stability. D) Full employment. Show Answer Correct Answer: A) Regulation of Inter-State-trade. ← PreviousNext →Related QuizzesBanking QuizzesFinance QuizzesBanking Affairs Quiz 1Banking Affairs Quiz 2Banking Affairs Quiz 3Banking Affairs Quiz 4Banking Affairs Quiz 5Banking Affairs Quiz 6Banking Affairs Quiz 7Banking Affairs Quiz 8 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books