Top 1000+ Solved Banking Awareness MCQ Questions Answer
Q. The tax payers data flows directly from banksto Tax Information Network (TIN). Who maintains TIN?
a. RBI
b. National Securities Depository Ltd.
c. National Securities Defense Ltd.
d. Enforcement Directorate
e. None of these
Q. When were banknotes in the Mahatma Gandhi Series introduced?
a. 1991
b. 1995
c. 1996
d. 2000
e. None of these
Q. Consider these statements:-Statement I – RBI decides volume and value of banknotes to be Statement II – RBI decides volume and value coins to be minted.
a. Both are true.
b. Both are false.
c. Statement I is true, but statement II is false.
d. Statement I is false, whereas II is true.
e. None of these
Q. When a cheque is drawn on a bank, the bank is called the ?
a. Payee
b. Drawee
c. Drawer
d. Endorsee
e. None of the above
Q. Balance in a current account is classified as
a. Hybrid Deposit
b. Term Deposit
c. Demand Deposit
d. Flexi Deposit
e. None of the above
Q. Capital adequacy is worked out based on?
a. Total demand and time liabilities
b. Net demand and time assets
c. Risk weighted assets
d. Risk weighted liabilities
e. None of the above
Q. In which of the following types of banking, there is a direct execution of transaction between a bank and its consumers?
a. Retail Banking
b. Universal Banking
c. Virtual Banking
d. Unit Banking
e. None of the above
Q. Which of the following instruments is not a Negotiable Instrument, as per NI Act, 1881?
a. Bills of Exchange
b. Letter of credit
c. Bank Draft
d. Promissory Notes
e. Cheque
Q. Deposits under Foreign Currency Non- Resident(FCNR) scheme can be accepted for a minimum of
a. 15 days
b. 3 months
c. 6 months
d. 1 year
e. 7 days
Q. One of the State Government avails of a temporary financial assistance from Reserve Bank of India. This type of finance is called ?
a. Overdraft
b. Temporary loan
c. Short term finance
d. Ways and Means advance
e. None of the above
Q. Which of the following forms of securing a loan is the safest one?
a. Lien
b. Assignment
c. Pledge
d. Hypothecation
e. Mortgage
Q. Nationalized Bank is also known as .
a. Private Sector Banks
b. Self help Groups
c. Cooperative Banks
d. Grameena Banks
e. Public Sector Banks
Q. In which of the following accounts, operation by cheques is permitted?
a. Savings bank accounts and fixed deposit accounts
b. Current accounts and fixed deposit accounts
c. Savings bank accounts and floating loan accounts
d. Savings bank accounts and cash accounts
e. Savings banks accounts and current accounts
Q. Which of the following is NOT comes under the functions of Banks?
a. Accept demand and time deposits from the public
b. Accept items for keeping in safe custody
c. Sell gold coins
d. Buy commodities for trading
e. Accept foreign currency for selling to money changers