Banking Awareness Quiz for Bank Exams 2021- 17th May

Q1. When MCLR implemented in India?
(a)1 April 2017
(b)1 April 2015
(c)1 April 2016
(d)1 April 2013
(e)1 April 2011

Q2. Full form of MCLR is………..
(a)Marginal Currency of Funds Based Lending Rate
(b)Marginal Cost of Funds Based Lending Rate
(c)Marginal Cost and Lending Rate
(d)Marginal Cost of Funds Based Liquid Rate
(e)None of these

Q3. MCLR is calculated internally by the bank on the basis of four components. Which is not the one of them?
(a) Marginal Cost of Funds
(b) Negative Carry on account of Cash Reserve Ratio (CRR),
(c) Tenure Premium
(d) Future Cost
(e)None of these

Q4. What is current repo rate?
(a)4 %
(b)3 %
(c)3.5 %
(d)5 %
(e)None of these

Q5. What is current bank rate?
(a)4.5 %
(b)3.5 %
(c)4.25 %
(d)5.25 %
(e)None of these

Q6. Marginal Cost of Funds based Lending Rate (MCLR) is……………………….
(a)The minimum lending rate below which a bank is permitted to lend
(b)The maximum lending rate below which a bank is not permitted to lend
(c)The minimum lending rate which is equal to repo rate
(d)The minimum lending rate below which a bank is not permitted to lend
(e)None of these

Q7. Which loans are related to MCLR rate?
(a)Floating rate loans
(b)Free rating loans
(c)Fast rating loans
(d)Formal rate loans
(e)None of these

Q8. What is full form of PLR?
(a)Price Lending Rate
(b)Prime Lending Rate
(c)Priority Lending Rate
(d)Prime Liquidity Rate
(e)None of these

Q9.What is the purpose of MCLR announced by RBI?
(a)To determine rates of interests for savings account
(b)To determine term deposit rate
(c)To determine rates of interests for loans
(d)All of these
(e)None of these

Q10. Which loans come under fixed rate loans?
(a)Gold loan
(b)Business loan
(c)Personal loans
(d)Car loans
(e)All of these

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Solutions

                                           

S1.Ans(c)
Sol. RBI implemented MCLR on 1 April 2016 to determine rates of interests for loans.

S2.Ans(b)
Sol. Marginal Cost of Funds Based Lending Rate (MCLR) is the minimum lending rate below which a bank is not permitted to lend.

S3.Ans(d)
Sol. MCLR is calculated internally by the bank on the basis of four components – Marginal Cost of Funds, Negative Carry on account of Cash Reserve Ratio (CRR), Tenure Premium and Operating Costs.

S4.Ans(a)
Sol. Current repo rate is 4 %.

S5.Ans(c)
Sol. Current bank rate is 4.25 %.

S6.Ans(d)
Sol. Marginal Cost of Funds based Lending Rate (MCLR) is the minimum lending rate below which a bank is not permitted to lend. MCLR replaced the earlier base rate system to determine the lending rates for commercial banks.

S7.Ans(a)
Sol. Floating rate loans are related to MCLR rate.

S8.Ans(b)
Sol. A prime lending rate is an interest rate used by banks, usually the interest rate at which banks lend to customers with good credit.

S9.Ans(c)
Sol. RBI implemented MCLR on 1 April 2016 to determine rates of interests for loans. It is an internal reference rate for banks to determine the interest they can levy on loans.

S10.Ans(e)
Sol. Personal loans, Business loan, Gold loan, Car loans all are the come under fixed rate loans.

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