This quiz works best with JavaScript enabled. Home > Finance > Banking > Banking Affairs > Banking Affairs – Quiz 59 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Banking Affairs Quiz 59 (30 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Which of the following name is used to refer to the RBI? A) Reserve Street. B) Credit Street. C) Mint Street. D) None of the above. Show Answer Correct Answer: C) Mint Street. 2. Co-operative development bank was set-up by A) Central Government. B) RBI. C) SBI. D) NABARD. Show Answer Correct Answer: D) NABARD. 3. How much amount has been allocated to for setting up 5 more IIMs and IITs? A) Rs. 500 Crore. B) Rs. 50 Crore. C) Rs. 100 Crore. D) Rs. 150 Crore. Show Answer Correct Answer: A) Rs. 500 Crore. 4. Which of the following organisations/agencies is not associated with the world of Banking and Finance? A) AMFI. B) RBI. C) SEBI. D) SPCA. Show Answer Correct Answer: D) SPCA. 5. What were the recommendation of Janak Raj Committee? A) Linking bank lending rates to a market benchmark. B) Merging all the Regional Rural banks. C) Dissolving all the Payments banks. D) None of the above. Show Answer Correct Answer: A) Linking bank lending rates to a market benchmark. 6. What is the full form of the term 'NPA' as used in banking environment? A) Not Profitable Assets. B) Non Performing Assets. C) Net Performing Assets. D) New Potential Accounts. Show Answer Correct Answer: B) Non Performing Assets. 7. Which of the following are among the Credit Bureaus present in India? A) Equifax. B) CRIF Highmark. C) Credit Information Bureau India Limited. D) All of the above. Show Answer Correct Answer: D) All of the above. 8. Who is the present CEO of UIDAI? A) Ajay Bhushan Pandey. B) J Satyanarayana. C) Anand Deshpande. D) Ajay Singh Natwar. Show Answer Correct Answer: A) Ajay Bhushan Pandey. 9. Where is located India's first operational special economic zone (SEZ)? A) Indore. B) Jaipur. C) Surat. D) Ahmedabad. Show Answer Correct Answer: A) Indore. 10. Which section of PSS Act, 2007 defines a payment system? A) Section 2(1). B) Section 2(3). C) Section 1. D) Section 3(1). Show Answer Correct Answer: A) Section 2(1). 11. Which of the following is the function of Issue log? A) Keeps a record of all issues within a project. B) Minimize the impact that issues have on your project. C) Track the actions taken to resolve issues. D) All of the above. Show Answer Correct Answer: D) All of the above. 12. Which of the following best define the term Relationship discount? A) It is given to the couple applying for personal loans. B) It is an additional benefit by banks. C) It is given to a prospective applicant if they have a pre-existing relationship with the lender. D) Both b and c. Show Answer Correct Answer: D) Both b and c. 13. When was the State Bank of India nationalised? A) 1955. B) 1964. C) 1959. D) 1956. Show Answer Correct Answer: A) 1955. 14. Under which among the following acts, Hawala transactions are banned in India? A) AFSPA. B) FEMA. C) FRBMA. D) FERA. Show Answer Correct Answer: B) FEMA. 15. The type of note issue system followed in India is A) Fixed Fiduciary System. B) Minimum Fiduciary System. C) Proportional Fiduciary System. D) Minimum Reserve System. Show Answer Correct Answer: A) Fixed Fiduciary System. 16. What is the maximum population limit for a commercial bank branch to be declared as rural branch? A) 2 lac. B) 4 lac. C) 5 lac. D) 1 lac. Show Answer Correct Answer: D) 1 lac. 17. In case of default, what is the minimum percent of additional interest is paid by issuer company? A) 5%. B) 15%. C) 2%. D) 1%. Show Answer Correct Answer: C) 2%. 18. Many a times we read in the news paper about CASA deposits of banks. CASA deposits are A) Demand deposits. B) Term deposits. C) Hybrid deposits. D) Recurring deposits. Show Answer Correct Answer: A) Demand deposits. 19. In terms of Section 5(1) (5) of the Banking Regulation Act, 1949, a 'banking company' means any company which A) Accepts deposits from the public. B) Undertakes lending of money. C) Transacts the business of banking in. D) All of the above. Show Answer Correct Answer: C) Transacts the business of banking in. 20. Which one of the following deficits deducted the interest payments to internal and external debt from the fiscal deficit to calculate the deficit of an economy? A) Revenue deficit. B) Budgetary deficit. C) Primary deficit. D) Twin deficit. Show Answer Correct Answer: C) Primary deficit. 21. A banker is expected to honour the cheques within the specified banking hours as per section of Negotiable Instrument Act, 1881. A) 30. B) 65. C) 25. D) 22. Show Answer Correct Answer: B) 65. 22. In our country, now a cheque remains valid for payment for.....from the date of issue. A) 12 months. B) 9 months. C) 6 months. D) 3 months. Show Answer Correct Answer: D) 3 months. 23. The main function of Central Statistical Organisation is..... A) To collect employment details. B) To determine prices. C) To determine the money supply. D) To publish national income estimates. Show Answer Correct Answer: D) To publish national income estimates. 24. In Union Budget 2014-15, the exemption on income for senior citizens has been raised to . A) Rs. 3 lakh per annum. B) Rs. 3.5 lakh per annum. C) RS. 2.5 lakh per annum. D) Rs. 2 lakh per annum. Show Answer Correct Answer: A) Rs. 3 lakh per annum. 25. Which of the following was first bank managed by Indians? A) Bank of India. B) Central Bank of India. C) Punjab National Bank. D) Bank of Baroda. Show Answer Correct Answer: C) Punjab National Bank. 26. The merit of issuing notes with RBI can be seen is A) Uniformity. B) Stability in currency. C) Control of credit. D) All of these. Show Answer Correct Answer: D) All of these. 27. A bank is under a statutory obligations to honour its customer's cheques vide A) Section 10 of the Banking Regulation Act, 1949. B) Section 3 of the RBI Act, 1934. C) Section31 ofthe Negotiable Instruments Act, 1881. D) All of the above. Show Answer Correct Answer: C) Section31 ofthe Negotiable Instruments Act, 1881. 28. Which of the following rates is not determined by RBI? A) Bank Rate. B) CRR. C) PLR. D) SCR. Show Answer Correct Answer: C) PLR. 29. The currency notes of which of the following denominations are not printed in India? A) Rs. 50. B) Rs. 10. C) Rs. 2500. D) Rs. 5. Show Answer Correct Answer: C) Rs. 2500. 30. What is the type of banking where banks operate only from a single branch called as? A) Narrow banking. B) Unit Banking. C) Shadow Banking. D) None of the above. Show Answer Correct Answer: B) Unit Banking. ← 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