This quiz works best with JavaScript enabled. Home > Finance > Banking > Banking Affairs > Banking Affairs – Quiz 70 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Banking Affairs Quiz 70 (30 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Regional Rural Banks (RRBs) are managed by A) The State Government. B) A Board of Directors. C) The sponsor bank. D) Reserve Bank of India. Show Answer Correct Answer: B) A Board of Directors. 2. Which of the following is incorrect about Non-banking Financial Companies (NBFCs)? A) NBFC cannot accept demand deposits. B) NBFC is not a part of the payment and settlement system. C) NBFC can issue cheques drawn on itself. D) NBFCS are fast emerging segment of Indian financial system. Show Answer Correct Answer: C) NBFC can issue cheques drawn on itself. 3. What is the maturity period of Treasury Bill? A) 91 Days. B) 364 Days. C) Both A and B. D) None of these. Show Answer Correct Answer: A) 91 Days. 4. The rules for how to deal with leases and hire purchase contracts is dealt with in which accounting standard? A) FRS 16. B) SSAP 21. C) FRS 19. D) SSAP 20. Show Answer Correct Answer: B) SSAP 21. 5. Which of the following is not a Banking/Economy Term? A) Insider Trading. B) Blue Chip. C) Factoring. D) Digital Signature. Show Answer Correct Answer: D) Digital Signature. 6. The largest Nationalized Commercial Bank in India at present is..... A) Central Bank of India. B) State Bank of India. C) Reserve Bank of India. D) Bank of India. Show Answer Correct Answer: B) State Bank of India. 7. The Vedic word Kusidin refers to.....? A) A banker. B) A farmer. C) An usurer. D) A trader. Show Answer Correct Answer: C) An usurer. 8. The bank rate means [BOB 2008] A) Rate of interest charged by commercial banks from borrowers. B) Rate of interest at which commercial banks discounted bills of their borrowers. C) Rate of interest allowed by commercial banks on their deposits. D) Rate at which RBI purchases or rediscounts bills of exchange of commercial banks. Show Answer Correct Answer: D) Rate at which RBI purchases or rediscounts bills of exchange of commercial banks. 9. Which of the following is popular 'saving bank' among the poor children? A) Core banking. B) Piggy banking. C) Credit banking. D) Debit banking. Show Answer Correct Answer: B) Piggy banking. 10. Bank rate as fixed by RBI, means A) Rate of interest charged by banks from borrowers. B) Rate of interest charged by RBI on its loans to banks. C) Rate of interest on inter-bank loans. D) Rate of interest on bank deposits. Show Answer Correct Answer: B) Rate of interest charged by RBI on its loans to banks. 11. RRBs are owned by A) Central Government. B) State Government. C) Sponsor Bank. D) All of the above. Show Answer Correct Answer: B) State Government. 12. ACH is a nationwide automated electronic system that monitors and administers the process of cheques and fund clearance between banks. Expand ACH. A) Automatic Check Clearing House. B) Automated Check House. C) Automated Clearing House. D) Automatic Clearing House. Show Answer Correct Answer: C) Automated Clearing House. 13. Which of the following deposit accounts caters to professionals and businessmen alike? A) Current Account. B) Fixed Deposit Account. C) Savings Bank Account. D) Recurring Account. Show Answer Correct Answer: A) Current Account. 14. Reverse Repo is a tool used by RBI to [Indian Overseas Bank 2011] A) Inject liquidity. B) To keep the liquidity at one level. C) Increase the liquidity with banking system. D) Absorb liquidity. Show Answer Correct Answer: D) Absorb liquidity. 15. Which is the latest round of NELP unveiled by the government for the auction? A) NELP-IX. B) NELP-X. C) NEP-XIII. D) NELP-XI. Show Answer Correct Answer: B) NELP-X. 16. Which of the following is also known as Additional State Pension? A) Basic state pension. B) State First Related Pension. C) State Earnings-Related Pension. D) None of the above. Show Answer Correct Answer: C) State Earnings-Related Pension. 17. What is the minimum limit of CRR that can be set by the RBI? A) 12%. B) No Limit. C) 15%. D) 20%. Show Answer Correct Answer: B) No Limit. 18. Headquarters of Reserve Bank of India is in A) Kolkata. B) New Delhi. C) Chennai. D) Mumbai. Show Answer Correct Answer: D) Mumbai. 19. Which of the following banks is the first to provide Mobile ATM? A) HSBC. B) Axis Bank. C) SBI. D) ICICI BANK. Show Answer Correct Answer: D) ICICI BANK. 20. Which of the following is the Capital Market regulator? A) RBI. B) SEBI. C) NSE. D) BSE. Show Answer Correct Answer: B) SEBI. 21. A customer does not require a bank account to obtain..... A) An overdraft. B) A cheque. C) A loan. D) A banker's draft. Show Answer Correct Answer: D) A banker's draft. 22. The ability of a commercial Bank to increase its loans and Investment depends on its..... A) Holding of government securities. B) Cash position. C) Excess Cash reserves. D) Outstanding loans and investments. Show Answer Correct Answer: C) Excess Cash reserves. 23. When was Krishna Bhima Samruddhi Local Area Bank Ltd established? A) 2004. B) 2000. C) 2002. D) 2001. Show Answer Correct Answer: D) 2001. 24. What happens if in an instrument the amount undertaken or ordered to be paid is stated differently in figures and in words? A) The instrument is void due to uncertainty. B) The amount stated in figure shall be the amount undertaken or ordered to be paid. C) The amount stated in words shall be the amount undertaken or ordered to be paid. D) None of the above. Show Answer Correct Answer: A) The instrument is void due to uncertainty. 25. Annual PPF ceiling to be enhanced to from Rs 1 lakh A) Rs. 2 lakh. B) Rs. 1.5 lakh. C) Rs. 3 lakh. D) Rs. 3.5 lakh. Show Answer Correct Answer: B) Rs. 1.5 lakh. 26. Main functions of Money? A) Medium of Exchange. B) Unit of Account. C) Store of Value. D) A, B and C of the above. Show Answer Correct Answer: D) A, B and C of the above. 27. In which year the Regional Rural Banks Act was passed? A) 1976. B) 1992. C) 1988. D) 1986. Show Answer Correct Answer: A) 1976. 28. The Holidays for the Banks are declared as per.....[SBI Bank 2013] A) Reserve Bank Act. B) Banking Regulation Act. C) Negotiable Instruments Act. D) Securities and Exchange Board of India Act. Show Answer Correct Answer: C) Negotiable Instruments Act. 29. In which of the following bills, the payment is to be made immediately by means of Bill of Exchange? A) Ready Bill. B) Term Bill. C) Faster Bill. D) Sight Bill. Show Answer Correct Answer: D) Sight Bill. 30. NEFT works on the principle of which of the following? A) Domain Net Settlement. B) Gross Batch Settlement. C) Priority Net Settlement. D) Deferred Net Settlement. Show Answer Correct Answer: D) Deferred Net Settlement. ← 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