BANK MCQ Quiz Hub

1. The basic functions of the bank are?
Lending or investing the funds so collected from the customers
Acceptance of Deposits from the public
Both (a) and (b)
Lending to customers

2. Functions of Banks are governed by?
FEMA
Traditions in India
Indian Contract Act
Banking Regulation Act

3. Electronic banking has opened new banking channels like?
ATM banking
Internet banking
Telephone banking
All of these

4. Illiterate Persons are allowed to open?
Current account
Savings account
Not allowed to open bank account
Only savings account (without cheque facility) or fixed deposit account

5. The effect of a valid nomination is that?
on death of the sole depositor, the amount will be returned to the nominee
on death of the sole depositor /all depositors, the amount will be returned to the nominee after further legal formality.
on death of the sole depositor / all depositors, the amount will be returned to the nominee without any further legal formality.
none of these

6. Fixed deposits cannot be
Transferred to third parties
Pre-paid before the maturity date
Renewed for a further period on maturity date
None of these

7. Minimum period of fixed deposit is_________days and maximum period for which a bank can accept a deposit presently is___________years?
7--10
7--20
7--30
7--40

8. Flexi deposits means?
Call Deposit
Fixed deposits
Hybrid deposits
Floating Rate of Interest deposits

9. When the bank lends money to the customer, the relationship, of the customer and banker is___.
Principle - Agent
Creditor and Debtor
Debtor and Creditor
All of these

10. Debt refers to?
Outstanding Loan Balance
Present and future dues from customer of any nature say locker rent
a sum of money owed by one person or entity (Creditor) to another person or entity (Debtor)
a sum of money owed by one person or entity(debtor) to an-other person or entity (creditor)

11. Know Your Customer (KYC) guidelines expect banks to?
know the family details of the customer
know the financial details of the customer
know the locational details of the customer
know the educational details of the customer

12. The Smart Card?
contains an IC Chip
appears very smart
issued to smart account holders
issued to account holders having balance in lakhs

13. �The first Indian bank to open a branch outside India, in London in 1946 is -
BOI
BOB
PNB
SBI

14. Coins are minted at ?
Hyderabad
Kolkatta
Mumbai
All of these

15. Which of the following is not a function of commercial bank?
Selling mutual funds
Providing project finance
Settlement of payments on behalf of the customers
Deciding policy rates like CRR, Repo rates/SLR etc.

16. Chairman of Banks are decided by
RBI
Finance Ministry
Corporate Ministry
Commerce Ministry

17. A customer desiring to do permitted banking transactions through ATM needs to have
Personal identification number (PIN), allotted by the bank while issuing ATM /Debit card/credit card
ATM card or debit card/credit card (if compatible with the ATM function)
Both (a) and (b)
Smartphone

18. Which of the following steps is not required by the user for withdrawing money from ATM?
Entering PIN
Entering account no
Inserting ATM card in the card slot
All of the above

19. Credit cards are cards which are also known as
Card money
Plastic cards
Plastic cards full of money
All of the above

20. What is the full form Of FEMA
Foreign Exchange Money Act
Full Exchange money Agency
Foreign Exchange Money Agency
Foreign Exchange Management Act

21. �A money Bill can originate-
Only in Lok Sabha
Only in Rajya Sabha
Only in a joint sitting of 2 houses
In either house of the parliament

22. Headquarters of World Bank
Vienna
Geneva
New York
Washington DC

23. Which one of the following is not an electronic banking delivery channel?
ATM
Mobile Vans
Internet Banking
Mobile Phone Banking

24. �A centralized database with online connectivity to branches, internet as well as ATM- network which has been adopted by almost all major banks of our country is known as?
Core Banking
Mobile Banking
National Banking
Investment Banking

25. Where is the head office of Syndicate Bank located?
Mumbai
Kolkata
Manipal
Bangalore

26. NABARD support lending to farmers, rural artisans and other non farmers in rural areas through___________.
Co-operative �Banks
Regional Rural Banks
Land Development Banks
All the Above

27. Identify the macro economic policy/ policies of India ___________.
Fiscal policy
Monetary policy
Both (a) and (b)
Regulatory policy

28. RBI uses bank rate in order to control ___________.
Liquidity
Cash holdings of banks
Financial position of banks
Money supply, volume of bank credit and cost of bank credit

29. What are the steps taken by RBI, in order to meet demand and time liabilities of banks in time?
Banks are asked to maintain CRR
Banks are asked to keep mandatory regulatory cash reserve with RBI
Both (a) and (b)
None of these

30. Identify the difference between commercial paper and certificate of deposit ___________.
Certificate of deposit is issued at discount while commercial paper at face value
Certificate of deposit is a financial instrument while commercial paper is a financial statement
Certificate of deposit is issued by banks while commercial paper is issued by firms or public limited companies
All of the above

31. If a bank needs to attract Provident Fund Deposits, what are the criteria that banks must possess?
Capital adequacy of 9%
Profitability in preceding 3 years
Minimum of Rs.200 crores as net worth
All of the above

32. If the stock markets are declining then it is called as ___________.
Stage
Bull run
Bear run
Down run

33. A promissory note that is not secured by any collateral or not secured by a mortgage or lien marked on any property is ___________instrument.
Debenture
Currency bill
Commercial bill
Bill of exchange

34. What does RBI do if a Re.1 note is issued by Government of India?
RBI put into circulation
RBI object the issuance
RBI asks banks to not to support for circulation
RBI converts Re.1 in to higher denomination of Rs.10 and more

35. RBI issue currency rupee notes on bases of ___________.
By holding minimum value of gold coins and bullion
By holding minimum foreign securities as a part of the total approved assets
Both (a) and (b)
By holding minimum amount of commodities which are trading in commodity exchanges

36. Which of the following entities are applicable for the new listing obligations and disclosure requirements of SEBI regulations, 2014?
Listing of bonds
All listed companies
Listing of debentures
All of the above

37. National Payments Corporation of India (NPCI) is being used by banks for ___________.
Remittance
Advisory service
Clearing and settlement
Payments and settlements

38. What kind of Treasury Bills (T-Bills) is/ are issued by State Government?
91 - days
182 - days
364 - days
No Treasury Bills issued by State Government

39. Pick the odd one out from the following about Bharat Bill Payment System (BBPS).
BBPS is a unified bill payment system across the country.
It will be setting up the standards in operations related to payments, clearance, and settlements.
Payment gateways, service providers, banks, and agents will be participants in this system.
None of these

40. Electronic fund transfers like RTGS and NEFT are operated and maintained by ___________.
Reserve Bank of India (RBI)
Bharat Bill Payment System (BBPS)
Clearing Corporation of India Limited (CCIL)
National Payments Corporation of India (NPCI)

41. Identify the Basel III norms from following that, recently RBI has extended the timeline for implementation for banks in India ___________.
Market discipline
Leverage ratio to 3%
Minimum regulatory capital requirement
All of the above

42. Identify the odd one out from the following benefits of RTGS.
Settlement is immediate
Lowers the settlement risk
Avoids credit risk while settlement
Suited for only lower value transactions

43. Who all can hire a locker in a bank?
Individuals
Two persons jointly
Limited companies and societies
All of the above

44. Expand IFSC ___________.
Interbank Fund Service Code
Indian Financial System Code
Indian Financial Services Code
International Financial Service Code

45. Which among the following is known as prepaid negotiable instrument?
Bankers cheque/ Pay order
Promissory note
Fixed deposit
Cheque

46. Which of the following is a part of the core sector?
Textiles
Chemicals
Real Estate
Machine Manufacturing

47. Accounts are allowed to be operated by cheques in respect of
Saving bank accounts and current accounts only
Both saving bank account and cash accounts only
Both current accounts and fixed deposits accounts
Both saving bank accounts and fixed bank accounts