Top 350+ Solved Banking and Insurance MCQ Questions Answer

From 76 to 90 of 386

Q. The main objective of the Reserve Bank of India is:

a. accept deposits from the public

b. give loans and advances

c. maintain price stability

d. provide remittance facilities

  • c. maintain price stability

Q. Quantitative measure for credit control by the RBI includes:

a. Discriminatory Interest Rate

b. Ceiling on Credit

c. Cash Reserve Ratio

d. Directives

  • c. Cash Reserve Ratio

Q. There are three parties to a bank draft:

a. The drawer bank branch, The drawee bank branch, The payee

b. The drawee bank branch, the payee, the purchaser of the draft

c. The payee, the purchaser of the draft, the drawer bank branch

d. The drawer bank branch, the drawee bank branch, the purchaser of the draft

  • a. The drawer bank branch, The drawee bank branch, The payee

Q. The legal obligation to honour cheques is subject to:

a. The cheque being post-dated

b. The cheque being drawn on another bank

c. The cheque being drawn by the depositor

d. The cheque being drawn on the account where there is insufficient balance

  • c. The cheque being drawn by the depositor

Q. When the cash reserve ratio (CRR) is increased by the RBI, it will:

a. Increase the supply of money in the economy

b. Decrease the supply of money in the economy

c. No impact on the supply of money in the economy

d. Initially increase the supply but later on decrease automatically.

  • b. Decrease the supply of money in the economy

Q. Agency services rendered by a bank to its customers as their agent include:

a. Receipt of deposits

b. Act as executors of wills

c. Issue letters of credit

d. Purchase foreign exchange

  • b. Act as executors of wills

Q. Currency notes of Rupee 1 and its subsidiary coins are issued by the

a. RBI

b. SBI

c. Ministry of Finance, Government of India

d. Securities & Exchange Board of India.

  • c. Ministry of Finance, Government of India

Q. 14th Major commercial banks were nationalized in 19th July

a. 1959

b. 1969

c. 1979

d. 1989

  • b. 1969

Q. _________is an instrument which is used for transfer of funds

a. Cheque book

b. Demand draft

c. Pass book

d. None

  • b. Demand draft

Q. ___________are the banks whose main objectives is to provide financial assistance to economically weaker sections of the society.

a. Co-operative B

b. Commercial B

c. Industrial B

d. Development B

  • a. Co-operative B

Q. The RBI commenced its operation from 1st April

a. 1955

b. 1925

c. 1935

d. 1945

  • c. 1935

Q. Payment of cheque can be stopped by

a. Beneficiary

b. Nominee

c. Drawer of cheque

d. All of the above

  • c. Drawer of cheque

Q. Bank draft is issued by

a. Private Sector Bs

b. Regional Rural Bs

c. Public sector Bs

d. All of the above

  • d. All of the above
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