Banking Awareness MCQ-138

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

Which of the following statement is/are not correct?

[A] Interest on term deposit is payable at quarterly or longer rests
[B] Banks are free to determine their savings bank deposit interest rate, subject to a few conditions
[C] Banks cannot accept interest-free deposits for current accounts
[D] With effect from April 1, 2010, Payment of interest on savings bank accounts by scheduled commercial banks would be calculated on daily product basis
[E] All of the above correct

An Asset Reconstruction Company(ARC) in India is associated with _______

[D] All of the above
[E] None of the Above

From which of the following financial organizations of the world, India had taken soft loan for recapitalization of banks?

[A] Asian Development Bank
[B] International Monetary Fund
[C] International Donors’ Group
[D] World Bank
[E] Bank of China

In the case of a demand draft

[A] Drawer, drawee and payee are the same
[B] Drawer, drawee and payee are different
[C] Drawer and drawee are the same but he payee is different
[D] Drawer and payee are the same but the drawee is different
[E] none of the above

NAMA word is related to which organisation

[A] World Trade Organisation
[C] International Monetary Fund
[D] World Bank
[E] None of these

What does FCCB stand for?

[A] Foreign Currency Convertible Bond
[B] France Currency Convertible Bond
[C] Freight Currency Convertible Bond
[D] All of these
[E] None of the Above

Which of the following institutions is involved in granting Housing Loans?


Which of the following banks recently launched ‘Mingle’, a social media banking platform for Facebook and Twitter users?

[A] HDFC Bank
[B] ICICI Bank
[C] Axis Bank
[E] Federal Bank

IFSC in a cheque means:

[A] Indian Financial System Code
[B] It has 11 digits alpha numeric
[C] First 4 digits represent Bank Name
[D] This code is used in remitting funds through RTGS and NEFT
[E] All the above

MICR stands for ______.

[A] Magnetic Ink Character Recognition
[B] Maximum Individual Cancer Risk
[C] Michigan Incident Crime Reporting
[D] Magnetic Ink Check Reader
[E] None of these

Sovereign Gold Bond(SGB) will be tradable on_____

[D] Stock Exchange
[E] None of these

Among the following which is NOT a source of funds of a commercial bank?

[A] Deposits
[B] Call money borrowings
[C] Loans
[D] Borrowing from RBI
[E] None of these

Many times we read in newspapers that the RBI has revised certain rates/ ratios under LAP. What is the full form of LAF?

[A] Liquidity Adjustment Facility.
[B] Legal Adjustment Facility
[C] Long-term Achievement Facility
[D] Legal Adjustment Formality
[E] None of these

What is the maximum period for which domestic term deposits are normally accepted by banks in our country?

[A] 3 years
[B] 5 years
[C] 7 years
[D] 10 years
[E] None of these

The Imperial Bank of India was renamed as?

[A] Reserve Bank of India
[C] Union Bank of India
[D] State Bank of India
[E] None of these