BANK MCQ Quiz Hub

1. Small Coins are -
Coins with denominations of Re. 1
Coins with denominations of more than Re. 1
Coins with denominations of less that Re. 1
None of the above

2. RBI currently follows which of the following system for issuance of currency?
Proportional Reserve System
Minimum Reserve System
Maximum Reserve System
None of the above

3. Volume and value of banknotes to be printed each year is determined by -
GDP growth
Inflation rate
Reserve Stock requirements
All of the above

4. Issue Offices of RBI are those places from where -
RBI issues coins to the bank branches
RBI issues banknotes to the bank branches
Both (a) and (b)
None of the above

5. Currency Chests are -
store houses of RBI for banknotes and small coins
store houses of RBI for banknotes and rupee coins
store houses of commercial banks for banknotes and small coins
store houses of commercial banks for banknotes and rupee coins

6. Small Coin Depots are -
store houses of RBI for banknotes
store houses of RBI for small coins
store houses of commercial banks for rupee coins
store houses of commercial banks for small coins

7. Which of the followings are against Clean Note Policy of RBI?
Banks not sorting notes into - Reissuables and Non-issuables - while issuing to public
Stapling and/or writing on notes
Issuing Soiled notes to public
All of the above

8. Which of the following is not a characteristic of a Soiled Note?
slightly cut
notes in more than two pieces
became dirty
notes in two pieces, but the cut is not passed through the number panels

9. What is the full form of TLR?
Two Lock Reception
Triple Lock Reception
Two Lock Receptacle
Triple Lock Receptacle

10. Excessively soiled, brittle or burnt notes can be exchanged on -
Issue Office of RBI
Commercial bank branches
Commercial bank headquarters
None of the above

11. Which of the following cooperative bank is considered as the first cooperative bank in India?
Anyonya Cooperative Bank
Amanath Cooperative Bank Limited
Abhyudaya Cooperative Bank Limited
Ahmedabad Mercantile Cooperative Bank Limited

12. According to the risk diversification principle of bank lending, diversification should be in terms of -
customer base
nature of business
geographic location
All of these

13. Axis bank is a
Gramin Bank
Foreign Bank
Cooperative Bank
Private Sector Bank

14. Savings account with zero balance can be opened for -
women customers
person of high net worth
weaker sections of society
employees of IT companies

15. Rupee coins are the legal tender in India under the provisions of -
Indian Coinage Act 1906
Banking Regulation Act 1949
Reserve Bank of India Act 1934
Negotiable Instruments Act 1881

16. As per the notification by Reserve Bank of India (RBI) on 6th Aug15, in which areas the banks are allowed to shift, merge or close branches without seeking its prior permission?
Rural Areas
Urban Areas
Semi-Rural Areas
Semi-Urban Areas

17. On 6th Aug15 the Lok Sabha adopted the Negotiable Instruments (Amendment) Bill 2015 that enables the _________.
Lift the penalty over bouncing cheques & Proposed to change the definition of Cheques
Proposed to change the definition of Cheques & Lift the penalty over bouncing cheques
Increase the penalty over bouncing cheques & Enable Cheque collections on Electronic Mode
Enable Cheque collections on Electronic Mode & Proposed to change the definition of Cheques

18. Which temple in India has opened up a Demat account to accept donations from devotees in the form of shares and securities?
Shirdi Sai Temple
Vaisho Devi Temple
Tryambkeshwar Temple
Tirumala Venkateswara Temple

19. Name the mobile banking app of Kotak Mahindra Bank (KMB) launched primarily for un-banked regions?
Bharat
Kotak India
Kotak Bharat
Indian Kotak

20. Which bank has launched the fist contactless debit, credit and multi-currency forex card?
SBI
Axis Bank
ICICI Bank
HDFC Bank

21. Name the initiative launched by the Finance Minister Arun Jaitely to revamp functioning of public sector banks, PSBs on 14th Aug 15?
BankNiti
Seven Plan
Maulik Niti
Indradhanush

22. Which of the following got accredited by the Green Climate fund as a national implementing entity for undertaking climate change related projects in India?
EPFO
SIDBI
MUDRA
NABARD

23. How many payment banks received in-principle approval by the Reserve bank of India?
10
11
12
13

24. The soon to be set up proposed Micro Units Development Refinance Agency (Mudra) Bank will be first set up as a subsidiary of the -
SBI
SIDBI
NABARD
EXIM bank

25. Out of 27 Public Sector Banks (PSBs), Govt of India controls 22 banks through majority holding and which of the following state-run entities holds majority stake in the remaining 5 banks?
SBI
LIC
SIDBI
NABARD

26. An Individual can have what number of Basic Savings Bank Deposit Account in one bank?
Only one
Only two
Only three
Only four

27. Which of the following institutions issues a 3-digit number ranging from 300-900 which reflects the credit profile of individuals?
CARE
CIBIL
CRISIL
CAMELS

28. What is the term used for a deposit with a bank that locks up money for a certain period but also provides an option of premature withdrawal which may attract a penalty?
Term deposit
Current deposit
Recurring deposit
Savings bank deposit

29. What is a Repo Rate?
It is a rate at which banks borrow rupees from RBI
It is a rate at which RBI allows small loans in the market
It is a rate at which RBI sell government securities to banks
It is a rate which is offered by Banks to their most valued customers or prime customers

30. SEBI has been imposed a restriction on money flow in equity through P-notes. What is the full form of P-notes?
private notes
purchase notes
permanent notes
participatory notes

31. Which was the first Indian Bank to introduce credit card?
ICICI
State Bank of India
Union Bank of India
Central Bank of India

32. Which bank began its operations in Oct 2015 ?
IDLI
IDFC
Bandhan bank
Shreeram Financers

33. �Which became the first bank globally to launch m-Visa. A service in which a person can transit cardless
SBI
IOB
ICICI
HDFC

34. Government increased the maturity period on G-Sec bonds to -
10 years
20 years
30 years
40 years

35. What does the section 85 of The Negotiable Instruments Act, 181 deal with?
Discharge from liability
Cheque payable to order
When cheque not duly presented and drawer damaged thereby
Discharge by allowing drawer more than forty eight hours to accept

36. RBI can carry out inspection of any bank under section ____ of Banking Regulation Act.
31
33
35
37

37. A banker lien is governed by
Banking Regulation Act
Negotiable Instrument Act
Transfer of Property Act
Bankers Books Evidence Act

38. A cheque is payable on
demand
a fixed future date
happening of certain event
24 hours after presentation

39. Bill of Exchange, Promissory Notes and Cheques are defined as -
Trust Receipts
Negotiable Instruments
Documents of Title of Goods
All of these

40. An award of Banking Ombudsman is
an arbitrary order
a judicial decision
an order on the Bank
an appeal to the bank

41. Nomination was introduced in banks by amendment in which of the following act.
RBI Act
Companies Act
Banking Regulation Act
Negotiable Instruments Act

42. Loan taken by the person, not telling the purpose of taking loan is called ?
NPA
Personal Loan
Concealed Loan
Impersonal Loan

43. Public Sector Banks include ?
14 Nationalized Banks + 6 SBI Associates + 7 Private Banks
19 Nationalized Banks + State Bank of India + 6 SBI Associates
20 Nationalized Banks + 6 Private Banks
20 Nationalized Banks + State Bank of India + 5 SBI Associates + IDBI

44. The formal way of lending includes lending from ?
RRB
Co-operative Banks
Public Sector Banks and Private Sector Banks
All of the above

45. The co-operative bank is governed by the banking regulation Act 1949 and co-operative societies Act of
1955
1965
1975
1985

46. A scheduled bank must be
An institution notified by GOI
A company as defined by companies act, 2013
A corporative or company incorporated by any law in force in any place in India
All of the above

47. Kapoor committee, 1999 is related to ____.
Micro-finance
Restructuring of RRBs
Capital Account convertibility
Co-operative Banking Reforms

48. Which of the following institution is meant for small and medium enterprises?
RBI
IFCI
SIDBI
NABARD

49. Co-operative banks are ____?
Joint-sector banks
Public sector banks
Private sector banks
All of the above

50. Certificate of Deposit can be issued by _____?
Reserve Bank, NABARD and Exim Bank only
Commercial banks and term lending institutions
Scheduled commercial banks excluding regional rural banks
All of the above