Banking Awareness MCQ-117

Banking Aptitude Test IBPS PO mains,Bank Exams,LIC ADO,SBI Clerks

Regional Rural Banks are empowered to transact the business of banking as defined under

[A] Regional Rural Banks Act, 1976
[B] Negotiable Instruments Act, 1881
[C] Banking Regulation Act, 1949
[D] The Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970
[E] None of the above

FINO stands for______.

[A] Financial Investment Network and Operations
[B] Farmers Investment in National Organization
[C] Farmers Inclusion News and Operations
[D] Financial Inclusion Network and Operations
[E] None of these

What is the expanded form ECS as used in banking sector?

[A] Effective Clearing Service
[B] Enabled Clearing System
[C] Electronic Clearing Service
[D] Electronic Confirmation System
[E] None of these

What does the acronym IFCI mean?

[A] International Finance Corporation of India
[B] Industrial Finance Corporation of India
[C] Institute of Financial Consultants of India
[D] Industrial Finance Council of India
[E] None of these

SMERA has been registered under ____

[A] Securities and Exchange Board of India Act, 1992
[B] Reserve Bank of India Act, 1934
[C] Banking Regulation Act, 1949
[D] Securities and Exchange Board of India (Credit Rating Agencies) Regulations, 1999
[E] None of these

Among the banks in our country, which of the following is not a foreign bank?

[B] Standard Chartered Bank
[C] BNP Paribas
[D] Citi Bank
[E] Ing Vysya Bank

Which among the following is at times mentioned as a kind of Direct Debit Facility?

[E] None of these

Which of the following statements is TRUE about National Federation of State Co-Operative Banks?

[A] Provides research and consultancy inputs to the member banks
[B] Promotes and protects the interests of the member banks
[C] Provides a common forum to the member banks
[D] All of the above
[E] None of these

Currently banks claim that they have achieved 100% CBS. What are they referring to?

[A] It means all their branches are technology driven with core banking solutions
[B] It suggests complete banking services
[C] It is an indication of customized banking services
[D] None of the above
[E] All of these

Inflation pressure on an economy essentially signifies ____.
I. Absence of growth impulses in the economy
II. A disequilibrium between exports and imports in. Inflation is higher in economy

[A] Only I
[B] Only III
[C] I and III
[D] Only II
[E] None of these

The rate at which banks borrows from the RBI is called

[B] Repo Rate
[C] Reverse repo rate
[D] Bank rate
[E] None of these

What does “I” stand for in ULIP?

[A] Investment
[B] Inflation
[C] Insurance
[D] Instrument
[E] Index

An NBFC-MFI is defined as a non-deposit taking NBFC (other than a company licensed under Section 25 of the Indian Companies Act, 1956 with Minimum Net Owned Funds of _____

[A] Rs.5 crore
[B] Rs.4 crore
[C] Rs.3 crore
[D] Rs.2 crore
[E] None of the Above

Under which of the following type of account is a specified amount deposited every month for a specified period, says, 12, 24,36 and 60 months?

[A] Fixed Deposit Account
[B] Saving Bank Account
[C] Current account
[D] Recurring Account
[E] None of these

When banks accept a fixed sum of money from an individual for a definite term and pay on maturity with interest, the deposit is known as

[A] demand deposit
[B] term deposit
[C] bond
[D] mortgage
[E] advance