1. Which of the following is an example of cash less purchase?
I. Internet Banking
II. Credit Card
Only I and II
All of the above
2. Through which of the following Indians are not authorized for banking?
3. The term “Balance of Trade” means?
A point where the values of imports and exports are equal A point where the values of imports and exports are equal
the term is used with reference to bilateral trade agreements with countries of CIS Block
the difference between the value of the imports and exports of a country
the difference between the total of transactions with foreign countries in trade, services and capital
4. The term “bank money” is used to denote?
loans and advance granted by the commercial banks
demand deposits used as money, i.e. deposits withdrawable by cheques
loans granted by the Reserve Bank of India to the commercial banks
money provided by the Reserve Bank of India to the Government
5. Which of the following is NOT the name of a multinational bank?
British Bank of Middle East
Standard Chartered Bank
6. In order to avoid crowding of customers wanting to withdraw cash in the branches, banks have provided many delivery channels. Which of the following is one of the most popular channels of getting instant hard cash?
Core Banking Solution
Automated Teller Machines
7. When someone wants to open a new savings banks account, the bank asks him/her to bring various documents. Which of the following is one of these documents?
Certificate of medical fitness
Proof of Residence & Identity
None of the above
8. As we all know, when we deposit a cheque issued in our name in the bank, the bank always checks if the cheque has been crossed or not. Why is this done?
It ensures that the money is deposited only in the account of the person in whose name the cheque has been drawn
It is a process by which the person who has issued the cheque comes to know whether the cheque is encashed or not.
The bank insists on it only when the party wants the payment immediately and that too in cash only
This is the instruction of RBI that all the cheques of the amount of Rs. 10,000/- should be accepted only if they crossed.
9. Which of the following terms is NOT associated with banking operations?
Prime Lending Rate
10. A student has got admission to a foreign university. From where can he/she get the foreign currency?
From the Bank of that country only
From the Ministry of Foreign Affairs
From office of the Consulate General of the country
From an authorized foreign exchange dealer