Banking & Financial Awareness Quiz: Part 24

(1). A cheque which is payable to any person who presents it for payment at the bank counter is called
(a) Crossed Cheque
(b) Bearer Cheque
(c) Order Cheque
(d) Stale Cheque



(2). In which type of foreign direct investment, a parent company starts a new venture in a foreign country by constructing new operational facilities from the ground up?
(a) Greenfield Investment
(b) Brownfield Investment
(c) Foreign Institutional Investment(FII)
(d) None of the Above 

(3). What is a 'Blue Chip' in the USA companies system?
(a) Stock
(b) Debenture
(c) Mutual Fund
(d) None of the Above 

(4). A debenture is a
(a) Mutual fund
(b) Negotiable Instrument
(c) Bills of exchange
(d) Document which either creates a debt 

(5). All revenues raised by the government, money borrowed and receipts from loans given by the government flow into the
(a) Consolidated fund of India
(b) Contingency Fund
(c) Public Account
(d) None of the Above 

(6). Who is the new Chief Operating Officer(COO) of the 'Ola'?
(a) Rakesh Kumar
(b) Ajit Pai
(c) Vishal Kaul
(d) Vishal Sikka 

(7). What is 'Wave N Pay', recently launched by the Punjab National Bank(PNB)?
(a) Contactless Credit Card
(b) Contactless Debit Card
(c) Mobile Payment Wallet
(d) Mobile Banking Platform 

(8). What is 'first C' Stands for in 'CCI', a government agency?
(a) Credit
(b) Central
(c) Competition
(d) Core 

(9). Which Bank has launched the ATM facility onboard premier warship INS Vikramaditya?
(a) SBI
(b) ICICI
(c) HDFC
(d) Bank of Baroda 

(10). Which Bank will provide the technology platform for the pilot launch of India Post Payments Bank (IPPB).?
(a) Bank of Baroda
(b) Punjab National Bank
(c) SBI
(d) ICICI 


EXPLANATION:

(1). Answer Key: (b)
A cheque which is payable to any person who presents it for payment at the bank counter is called Bearer cheque‟. A bearer cheque can be transferred by mere delivery and requires no endorsement.

(2). Answer Key: (c)
Brownfield investment happens, when a company or government entity purchases or leases existing production facilities to launch a new production activity.

(3). Answer Key: (a)
According to the New York Stock Exchange, a blue chip is a stock in a corporation with a national reputation for quality, reliability and the ability to operate profitably in good times and bad. The most popular index which follows US blue chips is the Dow Jones Industrial Average.

(4). Answer Key: (d)
A debenture is a document which either creates a debt or acknowledges it. Debenture issued by a company is in the form of a certificate acknowledging indebtedness. The debentures are issued under the Company's Common Seal.

(5). Answer Key: (a)
All government expenditure is made from this fund, except for exceptional items met from the Contingency Fund or the Public Account. Importantly, no money can be withdrawn from this fund without Parliament‟s approval.

(6). Answer Key: (c)
India's largest cab aggregator Ola has named Vishal Kaul, a former PepsiCo executive as its chief operating officer, a trend that is picking up among large Indian start-ups of bringing experienced hands to run operations as investors look at returns.

(7). Answer Key: (a)
This card could be used by just waving it across the terminal and the transaction will be through. There is no need to enter any PIN for transactions up to Rs 2,000. The cardholder has full charge back rights on the misuse.

(8). Answer Key: (c)
The Competition Commission of India (CCI).

(9). Answer Key: (a)
This was made possible after the Navy approached SBI, the country's largest bank. The cash dispensing machine will operate via a satellite communication link and the facility would be inaugurated on Saturday in Karwar.INS Vikramaditya is based in Karwar and the jetty is located quite far away from the town. The topography of the area is such that travelling either from the jetty to the town or from the sailors' colony to the town can be an arduous task.

(10). Answer Key: (b)
State-owned Punjab National Bank (PNB) will provide the technology platform for the pilot launch of India Post Payments Bank (IPPB). The memorandum of understanding (MoU) in this regard was signed between PNB and IPPB.
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