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Banking Awareness Quiz : Part 113

Published on Friday, March 11, 2016
Banking Awareness Quiz
1. Concept of "Service Area Approach" was recommended by :
    (a) R.V. Gupta
    (b) A.D. Gorawala
    (c) Dr. P.D. Ojha Committee
    (d) Dr. Kalia
2. Electronic Fund Transfer scheme of RBI has been renamed as :
    (a) Clearing
    (b) Core Banking Solutions
    (c) Real Time Gross Settlement
    (d) National Electronic Fund Transfer
    (e) None of these

3. External Commerical Borrowings (ECBs) form part of :
    (a) Current Account
    (b) Capital Account
    (c) Either A or B
    (d) Balance of Payments
    (e) None of these

4. RBI absorbs liquidity in the system through :
    (a) Repo
    (b) Reverse Repo
    (c) Both A and B
    (d) Either A or B
    (e) None of these

5. Mutual Funds are required to be registered with :
    (a) AMFI
    (b) SEBI
    (c) IBA
    (d) RBI
    (e) None of these

6. Reserve Bank of India has not authorized banks to approve limits relating to :
    (a) Cash Reserve Ratio
    (b) Statutory Liquidity Ratio
    (c) Foreign Exchange Operations
    (d) All of the above
    (e) None of the above

 7. The type of charge created on LIC Policy is :
    (a) pledge
    (b) hypothecation
    (c) assignment
    (d) All of these
    (e) None of these

8. Usually, the validity period of an Income Tax Refund Order is :
    (a) 1 months
    (b) 2 months
    (c) 3 months
    (d) 15 months
    (e) None of these

9. What is " Stagflation":
    (a) inflation with growth
    (b) deflation with growth
    (c) inflation after deflations
    (d) inflation with depression
    (e) None of these

 10. Which is the first bank in India to launch its interactive banking service through Dish TV:
      (a) SBI
      (b) ICICI Bank
      (c) HDFC Bank
      (d) Axis Bank
      (e) None of these

11. Where the signature of the drawer of a cheque is not genuine, such a cheque is called:
      (a) post dated cheque
      (b) stale cheque
      (c) forged cheque
      (d) All of these
      (e) None of these

12. Account payee crossing is addressed to:
      (a) collecting banker
      (b) paying banker
      (c) payee
      (d) All of these
      (e) None of these

13. Payment of a cheque may be countermanded by the:
      (a) payee
      (b) drawer
      (c) true owner
      (d) drawee
      (e) None of these

14. A Usance Bill when presented for acceptance has to be accepted/dishonoured within:
      (a) 24 hours
      (b) 36 hours
      (c) 48 hours
      (d) 60 hours
      (e) None of these

15. For violation of FEMA, prosecution is done by:
      (a) RBI
      (b) DGFT
      (c) FEDAI
      (d) Enforcement Directorate
      (e) None of these


1. R.V. Gupta
2. National Electronic Fund Transfer
3. Capital Account
4. Reverse Repo
6. None of the above
7. assignment
8. 3 months
9. inflation after deflations
10. ICICI Bank
11. forged cheque
12. collecting banker
13. drawer
14. 48 hours
15. Enforcement Directorate


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