MCQs on Banking Affairs -11

1. Banks are required to monitor transactions of suspicious nature for reporting to the authorities under anti- money laundering measures. The purpose of reporting is:
a) Combating finance of terrorism & to check hawala transactions
b) To check the inflow of crime money
c) To check inflow of the money earned out of sale of narcotics
d) All the above




2. Acceptance of deposits by non - banking financial companies is regulated by RBI under:
a) Non - banking financial companies acceptance of public deposits (Revenue Bank) directions 1998
b) Non - banking financial companies acceptance of government deposits (Revenue Bank) directions, 1998
c) Non - banking financial companies acceptance of public deposits (Revenue Bank) directions, 1998
d) Non- banking financial companies acceptance of deposits money lenders (RevenueBank) directions, 1998



3. If a company, which is not a non - banking financial company wants to collect public deposits, it is governed by ___ Act:
a) RBI Act 1934
b) Banking companies Act
c) Companies Act 1956
d) Central Government



4. Companies whose main business is not financing or lending are permitted to accept deposits under section 45(s) of RBI Act only from:
a) Public
b) Relatives in the from of loans
c) Friends
d) All of the above



5. Every Banking company is required to use the word Bank in its name and no company other than a Banking company can use the words Bank, Banker or Banking as a part of its name as per:
a) Section 7 of Banking Regulation Act
b) Section 7 of RBI Act
c) Section 7 of SEBI Act
d) Section 7 of Nationalization Act



6. In India, it is necessary to have license from the RBI for opening a new branch. This is a requirement under ____ Act
a) Section 22 of banking Regulation Act
b) Section 22 of RBI Act
c) Section 22 of NABARD
d) KYC Guidelines by RBI


7. If someone has a small business dealing in paper goods, what are the minimum and maximum help one can get from MUDRA?
a) smaller loans upto  100,000/ under the 'Shishu' category and beyond  100,000 and upto  10 lakh under the 'Kishor' category
b) smaller loans upto  200,000/ under the 'Shishu' category and beyond  200,000 and upto  10 lakh under the 'Kishor' category
c) smaller loans upto  100,000/ under the 'Shishu' category and beyond  100,000 and upto  5 lakh under the 'Kishor' category
d) Smaller loans upto  50,000/ under the 'Shishu' category and beyond  50,000 and upto  5 lakh under the 'Kishor' category


8. Which bank launches first homegrown economic index?
a) ICICI
b) BOB
c) SBI
d) PNB



9. What is the maximum deposit amount insured by the DICGC (Deposit Insurance and Credit Guarantee Corporation)?
a) Rupees One Lakh
b) Rupees Two Lakh
c) Rupees Three Lakh
d) Rupees Five Lakh



10. What does the DICGC insure?
a) Any amount due on account of any deposit received outside India.
b) Deposits of Central/State Governments;
c) Deposits of foreign Governments;
d) None of these.



11. Which is/ are the different categories under priority sector?
a) Social Infrastructure
b) Renewable Energy
c) Micro, Small and Medium Enterprises
d) All of these.



12. Which Bank launches voice password facility for users?
a) Axis
b) ICICI
c) HDFC
d) Kotak Mahindra Bank



13. Arvind Panagariya the Vice- Chairman of NITI Aayog, what is/ are the correct facts about him?
a) He was former Chief Economist with the Asian Development Bank.
b) He was an economics professor at Columbia University.
c) He also worked for World Bank.
d) All of these.



14. Which of the following became the first private bank in India to receive an in-principle approval from RBI?
a) Yes Bank
b) ICICI Bank
c) HDFC Bank
d) IndusInd Bank



15. Which of the following is not a contributing factor to micro-credits?
a) KYC norms
b) Collaterals
c) Pre-payment charges
d) EMI

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