Banking Awareness for RBI Assistant Mains 2017

Q1. RRB is established in _________.
(a) 5 Oct 1936
(b) 7 Oct 1935
(c) 4 Oct 1965
(d) 2 Oct 1975
(e) None of the above

Q2. Foreign Currency which has a tendency of quick migration is called-
(a) Fiat Currency
(b) Soft Currency
(c) Token Currency
(d) Hot Currency
(e) None of the above

Q3. The banker is under an obligation to take utmost care in keeping secrecy of the details of the customer. However, the obligation of secrecy is not considered essential when
(a) a banker is required to give evidence in the court
(b) there is national emergency and disclosure is essential in the public interest
(c) there are clear proofs of reason to the state and when consent is given by the customer to provide information for the     preparation of balance sheet
(d) All of the above
(e) None of the above

Q4. Which of the following is the Central Bank of the country?
(a) RBI
(b) SBI
(c) RRB 
(e) SEBI

Q5. Which of the following is NOT a Govt. sponsored organization?
(c) NHB
(d) ICICI Bank
(e) None of the above

Q6. When a corporate entity wishes to raise money from the market it can do that by issuing _________.
(a) Commercial Papers
(b) Treasury Bills
(c) KisanVikas Patra
(d) National Savings Certificates
(e) None of the above

Q7. 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

Q8. With reference to a cheque which of the following is the “drawee bank”?
(a) The bank that collects the cheque
(b) The payee’s bank
(c) The endorsee’s bank
(d) The endorser’s bank
(e) The bank upon which the cheque is drawn

Q9. Which of the following is not a party of bill of exchange? 
(a) The drawer
(b) The drawee
(c) The payee
(d) The endorser
(e) None of the above

Q10. Where 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

Q11. Bank Rate is __________
(a) Rate at which commercial banks borrow long term funds from central Bank.
(b) Rate at which commercial banks borrow short term funds from central Bank.
(c) Currently Bank rate is 6.75%
(d) Both (a) and (c)
(e) None of the above

Q12. In which year Public Debt Act was passed?
(a) 1938
(b) 1940
(c) 1944
(d) 1948
(e) None of the above

Q13. Non-Agricultural Market Access (NAMA) word is related to which organization?
(a) WTO
(c) IMF
(d) World Bank
(e) NDB

Q14. SEBI is related to _________.
(a) Bank 
(b) Government of India
(c) Share Market
(d) State Government
(e) None of the above

Q15. “Micro Credit” means?
I. Loan of very small amount 
II. Loans to Corporate Sector
III. Loans amounting Rs 50 lakhs to Rs 5 crores to Medium and small Industries Units 
(a) Only (I)
(b) Only (II)
(c) Only (I) and (II)
(d) All of the above 
(e) None of the above