MCQOPTIONS
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MCQOPTIONS
This section includes 3653 Mcqs, each offering curated multiple-choice questions to sharpen your Banking And Financial Awareness knowledge and support exam preparation. Choose a topic below to get started.
| 2951. |
An ECS transaction gets bounced and you are unable to recover your money from your customer. Under which Act criminal action can be initiated? [IBPS PO 2012] |
| A. | Indian Penal Code |
| B. | Negotiable Instruments Act |
| C. | Criminal Procedure Code |
| D. | Payment and Settlements Act |
| E. | Indian Contract Act |
| Answer» E. Indian Contract Act | |
| 2952. |
In which of the following fund transfer mechanisms, can funds be moved from one bank to another and where the transaction is settled instantly without being bunched with any other transaction? [IBPS PO 2012] |
| A. | RTGS |
| B. | NEFT |
| C. | TT |
| D. | EFT |
| E. | MT |
| Answer» B. NEFT | |
| 2953. |
Banking Ombudsman Scheme is applicable to the business of [IBPS PO 2012] |
| A. | all scheduled commercial banks excluding RRBs |
| B. | all scheduled commercial banks including RRBs |
| C. | only public sector banks |
| D. | all banking companies |
| E. | all scheduled banks except private banks |
| Answer» E. all scheduled banks except private banks | |
| 2954. |
The YH Malegam Committee, which Submitted its report a few months back, was setup to report on further improvement of functioning of [RBI Grade B 2011] |
| A. | Micro Finance Institutions |
| B. | Stock Exchanges in India |
| C. | Cooperative Banks |
| D. | Regional Rural Banks |
| E. | Foreign Banks having offices in India |
| Answer» B. Stock Exchanges in India | |
| 2955. |
Many times we read a term CBS used in banking operations. What is the full form of the Letter C in the term 'CBS'? [Indian Overseas Bank 2011] |
| A. | Complete |
| B. | Credit |
| C. | Continuous |
| D. | Core |
| E. | None of these |
| Answer» E. None of these | |
| 2956. |
Which of the following banks have entered capital market in the wake of Narasimham Committee recommendations? |
| A. | State Bank of India |
| B. | Oriental Bank of Commerce |
| C. | Bank of India |
| D. | All of the above |
| E. | None of the above |
| Answer» E. None of the above | |
| 2957. |
Which of the following is/was not included in the agenda set for the banking reforms in India? [Andhra Bank 2011] |
| A. | Dismantling of administered interest rates |
| B. | Measures to strengthen risk management |
| C. | Promulgation of Sarfaesi Act |
| D. | Promotion of the concept of easy credit to all with a guaranteed subsidy from government |
| E. | Granting of operational autonomy to public sector banks and allowing them to raise capital from the open market |
| Answer» E. Granting of operational autonomy to public sector banks and allowing them to raise capital from the open market | |
| 2958. |
Which of the following is the popular name of the norms by which a bank satisfies itself about the customer's identity and activities? [Corporation Bank 2011] |
| A. | Basel norms |
| B. | KYC norms |
| C. | Service norms |
| D. | Lending norms |
| E. | None of these |
| Answer» C. Service norms | |
| 2959. |
Which of the following is the purpose of introducing 'Know Your Customer' norms by the banks? [SBI PO 2011] |
| A. | To bring more and more people under the banking net |
| B. | Identifying people who do not pay income tax |
| C. | To ensure that the money deposited in banks has come from genuine sources |
| D. | To ensure whether the money deposited in the & bank is of an India or a foreign national |
| E. | None of the above |
| Answer» D. To ensure whether the money deposited in the & bank is of an India or a foreign national | |
| 2960. |
NEFT means [IBPS Clerk 2031] |
| A. | National Electronic Funds Transfer System |
| B. | Negotiated Efficient Fund Transfer System |
| C. | National Efficient Fund Transfer Solution |
| D. | Non-Effective Fund Transfer System |
| E. | Negotiated Electronic Foreign Transfer System |
| Answer» B. Negotiated Efficient Fund Transfer System | |
| 2961. |
Banks usually frame their KYC policies incorporating the following key elements I. Customer Policy; II. Customer Identification Procedures; III. Monitoring of Transactions; and IV. Risk management. Codes |
| A. | I, II and III |
| B. | II and IV |
| C. | I, III and IV |
| D. | I, II, III and IV |
| E. | II, III and IV |
| Answer» E. II, III and IV | |
| 2962. |
Consider the following statement(s) regarding Islamic Banking. I. It is based on the principles of Islamic law also known shariah. II. The Dubai Islamic Bank is the world's first full-fledged Islamic bank. III. Collecting interest is not permitted under Islamic law. Codes |
| A. | I and II |
| B. | II and III |
| C. | I and III |
| D. | I, II and III |
| E. | Only III |
| Answer» E. Only III | |
| 2963. |
Consider the following statement(s) regarding Bandhan Bank. I. Bandhan Bank started operating its banking services on 1st Oct, 2016. II. RBI gave its final nod for banking services in 2015. III. Head office of Bandhan Bank in Kolkata. Codes |
| A. | Only II |
| B. | II and III |
| C. | I and III |
| D. | I and II |
| E. | All of these |
| Answer» C. I and III | |
| 2964. |
Choose the correct statement(s). I. Deepak Mohanty is an economist. II. Deepak Mohanty Committee is constituted by RBI. III. Mohanty Committee was constituted on 15 July, 2015. Codes |
| A. | Only I |
| B. | I and II |
| C. | II and III |
| D. | I and III |
| E. | All of these |
| Answer» F. | |
| 2965. |
Choose the correct statement(s) regarding IDFC. I. IDFC started operating banking services on 1st Oct, 2015. II. IDFC is based in Mumbai. III. It is originally on investment finance company. Codes |
| A. | I and II |
| B. | II and III |
| C. | I, II and III |
| D. | I and III |
| E. | None of these |
| Answer» D. I and III | |
| 2966. |
Choose the correct statement(s) regarding Banking Regulation Act, 1949. I. Provide safety in the interest of depositors. II. Prevent misuse of powers by managers of banks. III. Act does not supersede. Codes |
| A. | Only II |
| B. | I and II |
| C. | I, II and III |
| D. | II and III |
| E. | Only III |
| Answer» D. II and III | |
| 2967. |
Consider the following statement(s) regarding IFRS. I. IFRS are issued by the International Accounting Standards Board. II. International Accounting Standards (IAS) was replaced by IFRS. III. RBI has started IFRS in year 2015. Codes |
| A. | Only II |
| B. | II and III |
| C. | I and II |
| D. | All of these |
| E. | None of these |
| Answer» D. All of these | |
| 2968. |
Consider the following statement(s) regarding IFSC. I. IFSC is an alphanumeric code. II. IFSC is a II digit code. III. IFSC is used by NEFT. Codes |
| A. | I and II |
| B. | II and III |
| C. | I and III |
| D. | I, II and III |
| E. | Only III |
| Answer» E. Only III | |
| 2969. |
Which of the following is not an act related to Banking regulation? |
| A. | Banking Laws Act, 1963 |
| B. | State Bank of India Act, 1963 |
| C. | RBI Amendment Act, 2006 |
| D. | a and b |
| E. | All of the above |
| Answer» C. RBI Amendment Act, 2006 | |
| 2970. |
Which of the following is not a electronic banking services? |
| A. | Mobile Banking |
| B. | PCS transfer |
| C. | Home Banking |
| D. | Home Loan |
| E. | PC Banking Services |
| Answer» E. PC Banking Services | |
| 2971. |
This committee recommended that the public sector bank should be free and autonomous |
| A. | Narsimham Committee |
| B. | Nachiket Mor Committee |
| C. | Mohanty Committee |
| D. | Bimal Jalan Committee |
| E. | None of the above |
| Answer» B. Nachiket Mor Committee | |
| 2972. |
Banking Ombudsman deals with matters less than or equal to |
| A. | Rs. 2 lakh |
| B. | Rs. 10 lakh |
| C. | Rs. 50 lakh |
| D. | Rs. 2 crore |
| E. | Rs. 10 crore |
| Answer» C. Rs. 50 lakh | |
| 2973. |
Central Board of Banking Fraudulence was established by Finance Minister of India in year |
| A. | 1985 |
| B. | 1990 |
| C. | 1997 |
| D. | 2003 |
| E. | 2011 |
| Answer» D. 2003 | |
| 2974. |
IDFC stands for |
| A. | infrastructure Development and Finance Corporation |
| B. | Indian Development and Finance Corporation |
| C. | Indian Development and Finance Company |
| D. | infrastructure Development and Finance Company |
| E. | Infrastructure Deem and Finance Corporation |
| Answer» B. Indian Development and Finance Corporation | |
| 2975. |
Narsimham Committee recommended to reduce SLR and CLR to |
| A. | 25% and 3.5% respectively |
| B. | 24% and 3.5% respectively |
| C. | 25% and 3% respectively |
| D. | 20% and 5% respectively |
| E. | 25% and 5% respectively |
| Answer» B. 24% and 3.5% respectively | |
| 2976. |
Factoring process is very popular in |
| A. | Manufacturing industry |
| B. | IT industry |
| C. | Publication industry |
| D. | Software industry |
| E. | Medical industry |
| Answer» B. IT industry | |
| 2977. |
Banking Ombudsman Scheme was introduced by the RBI in |
| A. | 1975 |
| B. | 1980 |
| C. | 1995 |
| D. | 1998 |
| E. | 2005 |
| Answer» D. 1998 | |
| 2978. |
Which one of the following does not qualify as priority sector lending by commercial banks? |
| A. | Software industries |
| B. | Small business loans |
| C. | Education loans |
| D. | Small loans to rural educated unemployed |
| E. | None of the above |
| Answer» B. Small business loans | |
| 2979. |
Islamic banking is banking or banking activity that is consistent with the principles of |
| A. | Debit law |
| B. | Credit law |
| C. | Sharia |
| D. | Indian banking law |
| E. | Internation banking law |
| Answer» D. Indian banking law | |
| 2980. |
Smart cards can provide |
| A. | personal identification |
| B. | authentication |
| C. | data storage |
| D. | application processing |
| E. | All of the above |
| Answer» F. | |
| 2981. |
A mutual savings bank is setup specifically to be operated for the benefit of the |
| A. | client |
| B. | depositors |
| C. | friend |
| D. | creditor |
| E. | None of these |
| Answer» C. friend | |
| 2982. |
The Reserve Bank of India introduced KYC guidelines for all banks in |
| A. | 2002 |
| B. | 2007 |
| C. | 2009 |
| D. | 2010 |
| E. | 2011 |
| Answer» B. 2007 | |
| 2983. |
RBI allowed bank to merge, shift or close branches |
| A. | Rural areas |
| B. | Semi-rural areas |
| C. | Urban areas |
| D. | 1 and 3 |
| E. | None of these |
| Answer» D. 1 and 3 | |
| 2984. |
KYC is the process of a business verifying the identity of its clients. What is Y in KYC? |
| A. | Yield |
| B. | Young |
| C. | Your |
| D. | You |
| E. | Yes |
| Answer» D. You | |
| 2985. |
The report on Customer Service in Banks by a committee chaired by |
| A. | M Damodaran |
| B. | M V Nair |
| C. | Sudarshan Sen |
| D. | Nachiket Mor |
| E. | KM Chandrasekhar |
| Answer» B. M V Nair | |
| 2986. |
Reserve Bank panel headed by ...... has made some important recommendations on priority sector lending. |
| A. | M V Nair |
| B. | Sudarshan Sen |
| C. | Nachiket Mor |
| D. | KM Chandrasekhar |
| E. | MB Shah |
| Answer» B. Sudarshan Sen | |
| 2987. |
The Reserve Bank of India (RBI) panel on priority sector lending proposed increment in the target (priority sector) for foreign banks to |
| A. | 10% |
| B. | 20% |
| C. | 30% |
| D. | 40% |
| E. | 50% |
| Answer» E. 50% | |
| 2988. |
The Reserve Bank of India (RBI) has setup an inter-regulatory working group to study the regulatory issues relating to Financial Technology (Fintech) and Digital Banking in India. The inter-regulatory working group will be headed by |
| A. | Shankar Acharya |
| B. | Rajiv Kumar |
| C. | Sudarshan Sen |
| D. | KM Chandrasekhar |
| E. | MB Shah |
| Answer» D. KM Chandrasekhar | |
| 2989. |
....... was included in the 4 member RBI panel led by Bimal Jalan which examine applications for new bank licenses. |
| A. | Rajiv Kumar |
| B. | Sudarshan Sen |
| C. | Nachiket Mor |
| D. | KM Chandrasekhar |
| E. | MB Shah |
| Answer» D. KM Chandrasekhar | |
| 2990. |
Prime Minister Narendra Modi's government has ordered the formation of a Special Investigation Team (SIT) to investigate black money. The SIT will be headed by retired Supreme Court judge |
| A. | Deepak Mohanty |
| B. | Shankar Acharya |
| C. | Rajiv Kumar |
| D. | KM Chandrasekhar |
| E. | MB Shah |
| Answer» F. | |
| 2991. |
Reserve Bank of India (RBI) has constituted a committee to prepare a 5 year action plan to spread the reach of financial services across country to unbanked population. The committee will be headed by RBI executive director |
| A. | Deepak Mohanty |
| B. | Shankar Acharya |
| C. | Rajiv Kumar |
| D. | KM Chandrasekhar |
| E. | PV Rajaraman |
| Answer» B. Shankar Acharya | |
| 2992. |
Which committee has been constituted to examine the feasibility of a new financial year? |
| A. | Shankar Acharya a committee |
| B. | Rajiv Kumar committee |
| C. | KM Chandrasekhar committee |
| D. | PV Rajaraman committee |
| E. | None of the above |
| Answer» B. Rajiv Kumar committee | |
| 2993. |
Which of the following acts is specially launched to facilitate banks in recovery of bad loans? |
| A. | RBI Act |
| B. | Banking Regulation Act |
| C. | Companies Act |
| D. | Income Tax Act |
| E. | SARFAESI Act |
| Answer» F. | |
| 2994. |
Which committee has been constituted to give recommendations on Fiscal Responsibility and Budget Management (FRBM)? |
| A. | Ajay Shankar committee |
| B. | NR Madhava Menon committee |
| C. | NK Singh committee |
| D. | H Devaraj committee |
| E. | G C Gupta |
| Answer» C. NK Singh committee | |
| 2995. |
Bandhan Bank Ltd. received the 'in-principle5 approval of the (RBI) for setting up a universal bank in |
| A. | April, 2011 |
| B. | April, 2012 |
| C. | April, 2013 |
| D. | April, 2014 |
| E. | April, 2015 |
| Answer» E. April, 2015 | |
| 2996. |
In........ Gujarat was the 1st Indian State to introduce a smart Card License system. |
| A. | 2011 |
| B. | 2012 |
| C. | 2013 |
| D. | 1999 |
| E. | 2000 |
| Answer» E. 2000 | |
| 2997. |
According to RBI, terms loans on which interest or instalment of principal remain overdue for a period of more than 90 days from the end of a particular quarter is called a |
| A. | IFSC |
| B. | ECS |
| C. | NPA |
| D. | CTS |
| E. | MICR |
| Answer» D. CTS | |
| 2998. |
The assets of the banks which do not perform are called |
| A. | Non-Performing Assets (NPA) |
| B. | Bad loans |
| C. | Fixed loans |
| D. | a and b |
| E. | All of the above |
| Answer» E. All of the above | |
| 2999. |
The Sarfaesi Act provides alternative methods for recovery of non-performing assets |
| A. | Securitisation |
| B. | Asset Reconstruction |
| C. | Enforcement of Security without the intervention of the Court |
| D. | a and b |
| E. | All of the above |
| Answer» F. | |
| 3000. |
The Sarfaesi Act amendment bill 2016 provides the facilities that the District Magistrate has to assist in the recovery process of the secured creditors and complete process within |
| A. | 10 days |
| B. | 30 days |
| C. | 45 days |
| D. | 50 days |
| E. | 55 days |
| Answer» C. 45 days | |