Previous Year Solved Question Papers

Previous Year Solved Question Papers

MCQs on Banking Affairs -18

1. The Reserve Bank of India (RBI) acts as a bankers’ bank. This would imply which of the following?
1 Other bank retains their deposits with the RBI.
2 The RBI lends funds to the commercial banks in times of need.
3 The RBI advises the commercial banks on monetary matters.
Select the correct answer using the codes given below:
a) 2 and 3 only
b) 1 and 2 only
c)1 and 3 only
d)1, 2 and 3

2. The basic aim of Lead Bank Scheme is that
a) big banks should try to open offices in each district
b) there should be stiff competition among the various nationalized banks
c) individual banks should adopt particular districts for intensive development
d) all the banks should make intensive efforts to mobilize deposits.

3. Which of the following measures would result in an increase in the money supply in the economy?
1. Purchase of govt securities from the public by the central bank
2. Deposit of currency in commercial banks by the public
3 .borrowing by the govt. from the central bank
4 .Sale of govt. securities to the public by the central bank

Select the correct answer using the codes given below:
a) 1
b) 2 and 4 only
c) 1 and 3
d) 2, 3 and 4

4. With effect from 1st July 2010, interest rates of Banks are linked to which of the following?
a) Base Rate
b) Benchmark Prime Lending Rate
c) Bank Rate 
d) Repo Rate

5. Action under Sarfaesi Act can be taken by a bank in respect of which of the following types of advances?
a) Only Standard Assets
b) Only Sub Standard Assets
c) All NPAs
d) All NPAs except loss accounts

6. Royal Bank of Scotland based in London opens an account with State Bank of India in Mumbai in Indian Rupees. For SBI this account will be treated as_____.
a) Nostro account 
b) Vostro account
c) Loro account 
d) All of these

7. Which of the following is correct regarding Operating Hours of NEFT?
a) NEFT operates in hourly batches - there are twelve settlements from 8 am to 7 pm on week days and six settlements from 8 am to 1 pm on Saturdays.
b) NEFT operates in batches of 2 hours each – there are seven settlements from 9 am to 5 am on week days and five settlements from 9 am to 1 pm on Saturdays.
c) NEFT operates in batches of one hour and two hour – there are nine settlements from 9 am to 5 am on week days and three settlements from 9 am to 12 pm on Saturdays.
d) 24*7

8.  For coverage under Priority Sector, how much maximum amount can be granted as educational loan for education in India and education abroad?
a) Rs 10 lakh, Rs 20 lakh
b) Rs 10 lakh, Rs 10 lakh
c) Rs 4 lakh, Rs 10 lakh
d) Rs 7.5 lakh, Rs 15 lakh

9. What is the maximum charge excluding service tax and time varying tariff that can be charged by a bank for remittance of more than Rs 5 lakh through RTGS?
a) Rs 25 
b) Rs 50
c) Rs 100 
d) All of these

10. As per RBI directives, the limit for not obtaining collateral security in case of advance to micro and small enterprises is Rs______.
a) Rs 1 lac
b) Rs 2 lac
c) Rs 5 lac
d) Rs 10 lac

11. In the case of agricultural advances, banks shall not obtain collateral security for loans up to ________.
a) Rs 25,000 
b) Rs 50,000
c) Rs 100,000 
d) Rs 200,000

12. In case of short term production credit to farmers up to Rs 3 lac, what is the rate of interest subvention for 2014-15?
a) 1.5% 
b) 2.5%
c) 2% 
d) 3%

13. Interest on Saving Bank deposits is calculated on the basis of ____________with effect from 1st April 2010.
a) Daily Product basis
b) Minimum balance between 5th and last day of the month.
c) Minimum balance between 10th and last day of the month.
d) Monthly Product basis

14. Which type of crossing restricts transferability of a cheque?
a) Special Crossing
b) Not Negotiable Crossing
c) Account Payee Crossing
d) Both (b) and (c) only

15. Which of the following is not true about Equitable Mortgage?
a) It is created by Deposit of title deeds.
b) Title Deeds can be deposited by Mortgagor or his authorized agent.
c) Title Deeds can be deposited at Mumbai, Kolkata, Chennai or any other place notified by State Government.
d) It can be only in respect of property located in urban areas

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