Monday, 22 August 2016

Banking and Financial Awareness for RBI/IBPS Exams

Q1. Which of the following is considered an informal method of getting credit/finance?
(a) Internet banking
(b) Branch visits
(c) Going to moneylenders
(d) Telebanking
(e) None of teh above

Q2. Which of the following is NOT a Public Sector Unit/Undertaking/Agency? 
(a) ECGC 
(b) SEBI
(c) SIDBI 
(d) Axis Bank
(e) BHEL

Q3. Which of the following commissions setup by the President of India decides the distribution of tax incomes between the Central and State Governments?
(a) Central Law Commission
(b) Pay Commission for Government Employees
(c) Administrative Reforms Commission
(d) Planning Commission
(e) Finance Commission

Q4. Nationalization of banks aimed at all of the following except __________ .
(a) Provision of adequate credit for agriculture, SME and exports
(b) Removal of control by a few capitalists
(c) Provision of credit to big industries only
(d) Access of banking to masses
(e) Encouragement of a new class of entrepreneurs

Q5. Which of the following is NOT a foreign bank working in India?
(a) HSBC
(b) Barclays
(c) Standard Chartered
(d) Yes Bank
(e) All are foreign banks

Q6. Who amongst the following is the Chairman of the 14th Finance Commission?
(a) Bimal Jalan
(b) Y V Reddy
(c) C Rangarajan
(d) Vijay Kelkar
(e) None of the above

Q7. The branding line of Bank of Baroda is...........?
(a) International Bank of India
(b) India’s International Bank
(c) India’s Multinational Bank
(d) World’s local Bank
(e) None of the above

Q8. Which of the following is/are the major concepts visible in today’s banking industry in India?
(1) Risk Based management
(2) Growing competition
(3) IT initiatives
(a) Only (1) 
(b) Only (2)
(c) Only (3) 
(d) Both (2) & (3)
(e) All (1), (2) & (3)

Q9. What is the minimum value of stock of gold coins, bullion and foreign securities, which RBI has to maintain at any point of time?
(a) Rs. 200 cr
(b) Rs. 215 cr
(c) Rs. 115 cr
(d) Rs. 500 cr
(e) Rs. 1000 cr

Q10. What is the highest denomination bank note that RBI can issue as per provisions of RBI Act? 
(a) Rs. 1000
(b) Rs. 2000
(c) Rs. 5000
(d) Rs. 10000
(e) None of the above

Q11. What is meant by a scheduled bank?
(a) The bank functioning under provisions of Banking Reg. Act 1949
(b) A bank included in 2nd schedule of RBI Act, 1934
(c) The bank incorporated under Banking Companies Act 1956
(d) A bank authorised for banking functions 
(e) bank issued a license by RBI mentioning therein that it is a scheduled bank 

Q12. On the basis of powers drawn mainly in which of the following Acts, RBI regulates and controls the banks in India?
(a) Banking Regulation Act and RBI Act
(b) RBI Act and Companies Act 
(c) Banking Regulation Act and Companies Act 
(d) Banking Regulation Act, RBI Act and Negotiable Instruments Act 
(e) None of the above

Q13. Banking has been defined under ________ of.
(a) Banking Regulation Act Section 5(b)
(b) Banking Regulation Act Section 17
(c) RBI Act Section 2 (2)
(d) Negotiable Instruments Act Section 1 
(e) None of the above

Q14. Who among the following is only a holder and not a ‘holder’ in due course?
(a) Holder of a bearer cheque
(b) Holder of a crossed order cheque
(c) Holder of a Non-negotiable crossed cheque
(d) All of the above 
(e) None of the above

Q15. Where is the time for payment is not mentioned in a promissory note it is?
(a) invalid instrument 
(b) inchoate instrument 
(c) no payment can be demanded 
(d) payable on demand
(e) None of the above

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