Friday, 23 September 2016


1. Interest payable on savings bank accounts is?
a) De-regulated by RBI           
b) Regulated by State Governments          
c) Regulated by Central Govt             
d) Regulated by RBI       
 e) Regulated by Finance Minister

2. The usual deposit accounts of banks are?
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.
e) Current bill accounts and term deposit accounts.

3. Fixed deposits and recurring deposits are?
 a) Repayable after an agreed period           
b) Repayable on demand           
c) Not repayable      
 d) Repayable after death of depositors    
e) Repayable on demand or after an agreed period as per banks choice

4. Accounts are allowed to be operated by cheques in respect of?
 a) Both savings bank accounts and fixed deposit accounts.                  
 b) Savings bank accounts and current accounts.    
 c) Both savings bank accounts and loan accounts.
d) Both savings bank accounts and cash accounts only.  
e) Both current accounts and fixed deposit accounts.

5. Which of the following is correct statement?
a) No interest is paid on current deposit accounts
b) Interest is paid on current accounts at the same rate as term deposit accounts
c) The rate of interest on current accounts and savings accounts are the same.
d) No interest is paid on any deposit by the bank.       
e) Savings deposits are the same as current deposits.

6. Banking services delivered to a customer by means of a computer
    control system that does not directly involve banks branch is called?
a) Universal banking      
 b) Virtual banking   
c) Narrow banking   
d) Brick & Mortal banking  
 e) None

7. Financial inclusion means provision of?
a) Financial services namely payments, remittances, savings,
     loans and insurance at affordable cost to persons not yet given the bank             
b) Ration at affordable cost to persons not yet given the same
c) House at affordable cost to persons not yet given the same
d) Food at affordable cost to persons not yet given the same
e) Education at affordable cost to persons not yet given the same

 8. When a bank returns a cheque unpaid, it is called?
a) Payment of the cheque               
b) Drawing of the cheque           
c) Canceling of the cheque
d) Dishonour of the cheque           
e) Taking of the cheque

9. Who is the Chairman of the committee constituted by RBI to study issues
 and concerns in the Micro Finance Institutions (MFI) Sector?
a) YH Malegam         
 b) Dr. KC Chakraborty     
c) C. Rangrajan           
 d) M. Damodaran      
e) Usha Thorat

10. Which of the following types of accounts are known as 'Demat Accounts'?
a) Accounts which are Zero Balance                     
b) Accounts which are opened to facilitate repayment of a loan taken from the bank.
No other business can be conducted from there
c) Accounts in which shares of various companies are traded in electronic form
d) Accounts which are operated through internet banking facility                      
 e) None of the above

11. NEFT means?
 a) National Electronic Funds Transfer                             
 b) Negotiated Efficient Fund Transfer system
c) National Efficient Fund Transfer solution                    
d) Non Effective Fund Transfer system
e) Negotiated Electronic Foreign Transfer system.

12. Distribution of insurance products and insurance policies by
banks as corporate agents is known as?
a) General insurance
b) Non life insurance                  
  c) Bancassurance         
 d) Insurance Banking                     
e) Deposit Insurance

13. In respect of partnership business, LLP stands for:
a) Local Labour Promotion   
b) Low Labour Projects                  
c) Limited Loan Partnership
d) Longer Liability Partnership        
 e) Limited Liability Partnership

14. What is a stale cheque?            
 a) A cheque issued without drawer's signature              
b) A cheque with only signature of the drawer
c) A cheque which has completed 3 months from the date of its issue 
d) any one of the above     e) none

15. Interest on savings bank account is now calculated by banks on?
a) Minimum balance during the month                             
  b) Minimum balance from 7th to last day of the month
c) Minimum balance from 10th to last day of the month  
 d) Maximum balance during the month                                
e) Daily product basis

16. Largest shareholder (in percentage shareholding) of a nationalized bank is?
a) RBI                        
b) NABARD               
 c) LIC              
d) Govt of India                    
 e) IBA

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