R4RIN – MCQs, Mock Tests | BANK Bank Mcq Question Set 8

Bitcoin is a_________.

1. Payment system
2. Internet Service Provider
3. Term used in share market
4. None of these

✅ Correct Answer: 1

A draft issued by the bank has been lost by the payee. He sends a letter to the issuing bank to stop payment. Bank will:

1. Stop payment
2. Performs no action
3. Not act on the request
4. Note caution and will advice the payee to contact purchaser of the draft

✅ Correct Answer: 4

Mutual funds are required to be registered with:

1. RBI
2. SEBI
3. AMFI
4. NABARD

✅ Correct Answer: 2

What is Yield Curve Risk?

1. Yield curve changes its slope and shape from time to time
2. It is a line of graph plotting the yield of all maturities of a particular instrument
3. Yield curve can be twisted to the desired direction through the intervention of RBI
4. All of the above

✅ Correct Answer: 4

The biggest international financial centre in the world:

1. Paris
2. London
3. Geneva
4. New York

✅ Correct Answer: 2

The expansion of BIFR, in the context of the Indian Industry is:

1. Board for Industrial and Financial Reconstruction
2. Bureau for Industrial and Financial Reconstruction
3. Board for Investment and Financial Reconstruction
4. Bureau for Investment and Financial Reconstruction

✅ Correct Answer: 1

The largest financial conglomerate of India is:

1. SBI
2. IFCI
3. ICICI Bank
4. HDFC Bank

✅ Correct Answer: 1

First bank in India to launch its interactive banking service through Dish TV:

1. HSBC
2. Axis Bank
3. HDFC Bank
4. ICICI Bank

✅ Correct Answer: 3

CGTMSE (Credit Guarantee Fund Trust for Micro and Small Enterprises) has been set up on the recommendations of:

1. Chore Committee
2. Ghosh Committee
3. Kapoor Committee
4. Krishna Committee

✅ Correct Answer: 4

The primary relationship between the banker and the customer is that of:

1. Lesser and lessee
2. Principal and agent
3. Debtor and Creditor
4. Trustee and beneficiary

✅ Correct Answer: 3

A debt becomes time-barred after:

1. One year
2. Two years
3. Three years
4. Four years

✅ Correct Answer: 3

In the matter of handling bills of exchange for collection, the relationship between customer and the bank is:

1. Bailor and bailee
2. Principal and agent
3. Trustee and the beneficiary
4. All of the above

✅ Correct Answer: 2

Hypothecation is:

1. A transaction of conditional sale
2. Transfer of ownership by the borrower to the lender
3. Either a or b
4. A legal transaction whereby goods may be made available as security for a debt

✅ Correct Answer: 4

�Payment of a cheque may be countermanded by the ___

1. Payee
2. Drawer
3. Drawee
4. True owner

✅ Correct Answer: 2

J.S. Verma Committee Report relates to:

1. Bank Mechanization
2. Corporate Governance
3. Strengthening of weak banks
4. All of the above

✅ Correct Answer: 3

Which of the following is a reason for inflation?

1. Deficit financing
2. Structural deficiencies
3. Growth in per capita income
4. All of the above

✅ Correct Answer: 4

Nainital Bank is a subsidiary of which of the following banks?

1. Syndicate Bank
2. Bank of Baroda
3. State Bank of India
4. Reserve Bank of India

✅ Correct Answer: 2

What do you mean by Mortgage?

1. A security created on movable property for a loan given by a bank
2. A security created on immovable property for a loan given by a bank
3. A facility created on movable property for a deposit received by a bank
4. A security created on immovable property for a deposit received by a bank

✅ Correct Answer: 2

Maximum amount of Cheque

1. Rs.1 crore
2. Rs.150 crore
3. Rs.200 crore
4. No limit

✅ Correct Answer: 4

What happens if a crossed cheque is presented for payment?

1. It cannot be paid at all
2. It can be paid only through a banker
3. It can be paid across the counter in another bank
4. None of the above

✅ Correct Answer: 2

From 25th September 1975, Rupee was de-linked from pound sterling and was linked to________.

1. Gold
2. Dinar
3. US Dollar
4. Basket of Currencies

✅ Correct Answer: 4

On 1st March, 1992, Reserve Bank of India announced a new system of exchange rates known as_______.

1. Partial Convertibility
2. Liberalized Exchange rate system
3. Both (a) and (b)
4. None of these

✅ Correct Answer: 3

In India, Fixed Fiduciary System of note issue was in force from________.

1. 1816 to 1920
2. 1890 to 1950
3. 1920 to 1947
4. 1947 to 1954

✅ Correct Answer: 1

Which among the following statements is correct about soiled/mutilated note?

1. Banks are expected to offer this service even to non-customers
2. All banks are authorized to accept soiled notes across their countries and pay exchange value
3. The RBI has also authorized all commercial bank branches to treat certain notes in �two pieces� as soiled notes and pay exchange value
4. All of the above

✅ Correct Answer: 4

�Among the following which were the first rulers in India to issue coins which can be definitely attributed to the kings?

1. Shakas
2. Kushans
3. Parthians
4. Indo-Greeks

✅ Correct Answer: 4

The decimal system of note and coin issue was started in India in______ .

1. 1950
2. 1957
3. 1961
4. 1972

✅ Correct Answer: 2

Under which section of the Reserve Bank of India Act, the RBI has the sole right of note issue?

1. Section 21
2. Section 22
3. Section 23
4. Section 24

✅ Correct Answer: 2

RBI has the legal right to issue bank notes, under which act?

1. RBI Act
2. Coinage Act
3. Companies Act
4. Banking Regulation Act

✅ Correct Answer: 1

Who is responsible for minting coins in India, and under which act?

1. RBI, RBI Act
2. RBI, Coinage Act
3. Government of India, Coinage Act
4. Government of India, Banking Regulation Act

✅ Correct Answer: 3

What is the maximum denomination of currency note that can be issued by RBI?

1. Rs. 1,000
2. Rs. 5,000
3. Rs. 10,000
4. Rs. 50,000

✅ Correct Answer: 3