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Banking Awareness Quiz - Part 117

Published on Thursday, March 24, 2016
1. Authority to prescribe retention period of records of banks vests with:
    (a) IBA
    (b) RBI
    (c) GOI
    (d) SEBI
    (e) None of these

2. Ceiling for settlement through Lok Adalats is:
    (a) Rs. 10 lakh
    (b) Rs. 15 lakh
    (c) Rs. 20 lakh
    (d) Rs. 25 lakh
    (e) None of these

 3. If a bank wants to introduce a new deposit scheme, the same is now approved by:
    (a) RBI
    (b) IBA
    (c) respective Bank's Board
    (d) Both A and B
    (e) None of these

4. The main watchdog of international trade is:
     (a) IMF
     (b) World Bank
     (c) GATT
     (d) IFC
     (e) None of these

 5. Which one of the following has largest network, accounts and annual deposits:
    (a) IDBI
    (b) ICICI
    (c) Post office saving bank
    (d) IOB
    (e) None of these

6. The Interest Rate Policy is a component of:
    (a) Fiscal Policy
    (b) Monetary Policy
    (c) Trade Policy
    (d) Direct Control
    (e) None of these

7. Credit Guarantee Fund Trust for Small Industries has been set up on the recommendations of:
    (a) Narasimham Committee
    (b) Ghosh Committee
    (c) Chore Committee
    (d) Kapoor Committee
    (e) None of these

8. In respect of composite term loans granted to village industries, refinance is obtained from:
    (a) NABARD
    (b) SIDBI
    (c) IDBI
    (d) RBI
    (e) None of these

9. RBI had introduced Advanced Approaches for Basel II Framework in India. Accordingly, the three Approaches are:
    (a) Standardized Approach
    (b) Basic Indicator Approach
    (c) Standardized Duration Approach
    (d) All of the above
    (e) None of these

10. Which Act confers on banks their Right of set off:
      (a) Banking Regulation Act, 1949
      (b) Reserve Bank of India Act, 1934
      (c) Negotiable Instruments Act, 1881
      (d) Indian Contract Act, 1872
      (e) None of these

11. Which Committee was formed to review the system of lending under Consortium Arrangement:
      (a) Kapoor Committee
      (b) Khan Committee
      (c) J.V. Shetty Committee
      (d) Share Committee
      (e) None of these

12. Which of the following cannot issue a commercial Paper:
      (a) Companies
      (b) Primary Dealers
      (c) Commercial Banks
      (d) All India Financial Institutions
      (e) None of these

13. The Bond can be:
      (a) Zero Coupon Bond
      (b) Deep Discount Bond
      (c) Floating Rate Bond
      (d) Any of these
      (e) None of these

14. "Refund Banker Scheme" has been launched by:
      (a) IBA
      (b) RBI
      (c) SEBI
      (d) Income Tax Department
      (e) None of these

15. Bank can issue a duplicate of a lost demand draft at the request of the:
      (a) Payee
      (b) holder
      (c) Purchaser
      (d) Either A or C
      (e) None of these


1. RBI
2. Rs. 20 lakh
3. respective Bank's Board
4. IMF
5. Post office saving bank
6. Monetary Policy
7. Kapoor Committee
9. All of the above
10. Indian Contract Act, 1872
11. J.V. Shetty Committee
12. Commercial Banks
13. Any of these
14. Income Tax Department
15. Either A or C


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Ramandeep Singh

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I'm Ramandeep Singh, your guide to banking and insurance exams. With 14 years of experience and over 5000 successful selections, I understand the path to success firsthand, having transitioned from Dena Bank and SBI. I'm passionate about helping you achieve your banking and insurance dreams.

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