BANK MCQ Quiz Hub

1. According to the Socio Economic and Caste Census (SECC) which among the following states in India has highest per cent of Urban BPL households?
Bihar
Sikkim
Manipur
Jharkhand

2. Payment of a cheque may be countermanded by the ___
Payee
Drawer
Drawee
True owner

3. Union Government has decided to set up a Bank Board Bureau (BBB) to monitor key performance indicators of two dozen public sector banks (PSBs). BBB will start functioning from ___.
31st December 2015
1st January 2016
31st March 2016
1st April 2016

4. A fixed deposit receipt is kept with the bank for its safety, is known as _____________
Locker
Safe custody
Safe deposit
Valid safe deposit

5. Simply click a card launched by SBI special for ____.
Cash Transfer
Pay Utility Bills
Online Shopping
For Home Loans

6. Banking Companies are prohibited under Sec 8 of banking Regulation Act to sell and purchase securities. Yet Banks are selling securities (of the customer) which are under pledge as permitted by:
SARFAESI Act
Indian Contract Act
Banking Regulation Act
Government Notification

7. Hypothecation is:
A legal transaction whereby goods may be made available as security for a debt
Transfer of ownership by the borrower to the lender
Atransaction of conditional sale
None of the above

8. Mortgage is a:
Facility on immovable property
Security on movable property for a loan
Security on immovable property for a loan
Security on loan sanctioned against fixed deposits

9. What is the minimum amount to be invested under Sukanya Samriddhi Scheme?
Rs. 500
Rs. 1000
Rs. 1500
No ceiling

10. The Main activity of the Financial Intelligence Unit India (FIUIND) is to control:
Terrorism
Tax Evasion
Money Laundering
Avoiding frauds in ATMs

11. The SARFAESI Act 2002 empowers Banks / Financial Institutions to recover their non-performing assets (bad loans) without the intervention of the Court. In "SARFAESI" second "S" stands for ____.
Share�
Saving
Security�
Securitisation

12. The main function of an Asset Management Company is to:
act on behalf of SEBI
hold the securities of various schemes
hold its property for the benefit of the unit holders
manage the funds by making investments in various types of securities

13. The Banking Codes and Standards Board of India was registered on 18th February, 2006 under which of the following RBI Act?
Banking Regulation Act
Cooperative Societies Act
The Societies Registration Act, 1860
None of these

14. As per the Banking Ombudsman Scheme, any person can file a complaint before the Banking Ombudsman, if the satisfied reply is not received from the bank within a period of ____.
one month
two months
three months
six months

15. CIBIL as a credit bureau caters to:
Consumer segments
Commercial segments
Nationalized Banks only
Both commercial and consumer segments

16. Infusion of liquidity, by RBI, is done through _____ from / to banks under a _____ transaction.
lending, repo
borrowing, repo
lending, reverse repo
borrowing, reverse repo

17. �Some banks are financing big projects like construction of roads, bridges etc. Financing such projects means banks are helping exactly in:
Financial Inclusion
Project Management
Infrastructural Development
Developing core sector Industry

18. A rate of exchange established between any two currencies on the basis of the respective quotation of each currency in terms of a third currency is known as:
Wash rate
Cross rate
Merchant rate
Composite rate

19. Crossing denotes
that the cheque will be paid through clearing only
that the cheque cannot be transferred by the payee named therein
a direction to the paying bank to make payment of the cheque through a bank
that the cheque will not be paid across the counter but will be credited to the account of the holder

20. Who is primarily liable on a cheque?
Payee
Drawer
Drawee banker
Collecting banker

21. In the case of a demand draft
Drawer, drawee and payee are different
Drawer, drawee and payee are the same
Drawer and payee are the same but the drawee is different
Drawer and drawee are the same but he payee is different

22. Demand draft is a
negotiable instrument
not negotiable instrument
not transferable instrument
quasi-negotiable instrument

23. The Kisan Credit Card Scheme is being implemented by all -
Regional Rural Banks
Public Sector Commercial Banks
State Cooperative Banks/DCCBs/PACS nad Scheduled Primary Cooperative Banks
All of the above

24. The following are main objectives of the SEBI :-
to regulate the security market
to protect interest of investors
to promote the development of security market
all of the above

25. Capital market can be divided into:-
gilt edged market
industrial securities market
both (a) and (b)
personal securities market

26. Which of the following is correct statement in respect of debit cards :-
This facility is not extended to cash credit/loan account holders
Debit card facility is provided to those having savings bank account/current account accounts of individuals, firms and cooperates
Both (a) and (b)
Debit card is issued to all the persons who visit the branch

27. What are the facilities available to the customers through ATM :-
Cash deposit
Balance enquiry
Cash withdrawal subject to a predetermined limit per day
All of the above

28. By crossing we mean :-
two horizontal lines on a cheque
one straight line across the cheque
two lines across the cheque making X
two transverse parallel lines on a cheque

29. Section 9 of the Banking Regulation Act prohibits the banking Companies from holding any immovable property except for its own use for a period of not more property. The RBI may extend this period for
1 year
3 years
5 years
7 years

30. Which of the following stock exchange is derecognized by SEBI on 19.11.2014 on the allegations of serious irregularities in its functioning?
Delhi Stock Exchange
Bombay Stock Exchange
Calcutta Stock Exchange
Bangalore Stock Exchange

31. Which of the following is not a function of General Insurance?
Fire Insurance
Crop Insurance
Cattle Insurance
Medical Insurance

32. Minimum cash reserves fixed by law constitute ___
A percentage of capital & reserves of the bank
A percentage of aggregate deposits of the bank
A percentage of aggregate loans and advances of the bank
All of the above

33. Which of the following organizations/ agencies has sought an emergency fund of Rs.1000 crore from banks to tackle acute liquidity crisis, which is coming in the way to give loans to micro borrowers?
RBI
NABARD
Micro Finance Institutions
Regional Rural & Cooperative Banks

34. PAN number is required for all transactions above -
Rs. 25,000
Rs. 1 lac
Rs. 2.5 lac
Rs. 4 lac

35. �Which of the following types of ATMs eliminates the need for PIN entry and authenticated customer transactions by thumb impressions?
Off-site ATMs
On-site ATMs
Biometric ATMs
White Label ATMs

36. Which agency is exclusively concerned with the credit needs of all types of agricultural and rural development?
NABARD
State Bank of India
Reserve Bank of India
Industrial Development Bank of India

37. What is the name of technology given to the recently introduced computerised clearance of cheques:
MICR
Special clearning
Speedline System
Automatic clearance

38. Ways and Means advances are provided by Reserve Bank of India only to:
State Government
Central Government
Both (a) and (b)
None of these

39. Micro Credits are loans:
not exceeding Rs. 50,000 per borrower provided by banks
granted to distressed persons (other than farmers) to pre-pay their debt to non-institutional lenders against appropriate collateral or group security
both (a) and (b)
not exceeding Rs. 20,000 per borrower provided by banks

40. Rural Infrastructure Development Fund (RIDF) is financed by:
NABARD
Reserve Bank of India
Ministry of Rural Development
Selected group of Public Sector Banks

41. Which of the following is not included in CAMELS:
Liquidity and Systems
Employees Performance
Capital Adequacy and Asset Quality
Management and Earing Performance

42. The term Merchant Banking denotes-
Telegraphic transfers effected by merchants
Catering to the needs of corporate customers raising finance
Services rendered by banks for merchants and traders capital requirements to merchants covered under DICGC Guarantee Scheme
All of the above

43. RBI grants in-principle approval to Reliance Industries Limited to set up Payments Banks in the country. To which among the following RIL has partnered with for Payment Bank Licence?
SBI
LIC
Bajaj Capital
Apollo Munich

44. National Electronic Funds Transfer (NEFT) is a nationwide payment system facilitating one-to-one funds transfer. What is the limit on the amount that could be transferred using NEFT?
Rs. 1 lakh
Rs. 2 lakh
Rs. 5 lakh
No limit

45. What is the maximum value to be stored in a prepaid card?
Rs. 5,000
Rs. 10,000
Rs. 50,000
No limit

46. Reserve Bank of India (RBI) has constituted a committee to prepare a 5 year action plan to spread the reach of financial services across country to unbanked population. The committee will be headed by
Urjit Patel
Anand Siha
Deepak Mohanty
KC Chakraborty

47. Money lent for one day is called:
Term Money
Call money
Notice money
All of the above

48. Treasury bills or T-bills, which are money market instruments, are short term debt instruments issued by ____.
IRDA
Government of India
Reserve Bank of India
Corporate & Financial Institutions