MCQs on Banking Affairs -2

1. The Reserve Bank of India has decided to help banks, as a temporary measure, by providing additional liquidity support under LAF. What is the full form of LAF?
(a) Loan Adjustment Fund
(b) Liquidity Adjustment Facility
(c) Long Awaited Funds
(d) Loan Against Funds



2. Which of the following is a measure of ‘narrow money’ in India?

(a) M0
(b) M1
(c) M2
(d) M3 




3. Who is primarily liable on a cheque?
(a) Drawer
(b) Paying banker
(c) Collection banker
(d) Everybody who touches the cheque



4.The effect of a crossing a cheque is
(a) The payee can obtain payment only through a bank account 
(b) The payee Is compelled to open an account 
(c) The payee will have to endorse the cheque to a bank 
(d) None


5.Truncation of cheques means
(a) scanning of the cheques and transmission of electronic image instead of physical cheque in the clearing cycle 
(b) debiting of drawer’s account through internet 
(c) Both of the above 
(d) none of the above



6. Who can file a criminal case against the drawer of a dishonoured cheque? 
(a) The payee 
(b) The holder in due course 
(c) Both  of the above 
(d) The paying banker



7. The drawer of a cheque is always a
(a) bank 
(b) company 
(c) Firm 
(d) customer 


8. A cheque is considered as stale when if has been in circulation for 
(a) more than forty eight hours 
(b) more than one year 
(c) more than six months unless otherwise specified 
(d) more than three months



9.Where the signature of the drawer of a cheque is not genuine , such a cheque is called

(a) post dated cheque 
(b) stale cheque 
(c) forged cheque 
(d) all


10. "Doing business report" published by – 

a) World Bank  
b) IMF  
c) ADB 
d) WTO 



11. Interest rate "Savings deposit" now a days is decided by – 

a) RBI  
b) SBI  
c) Respective Banks  
d) IBA 



12. "ASBA" stands for – 

a) Application supported by bank account  
b) Application supported by balance account 
c) Application supported by blocked account  
d) Application supported by blocked amount 



13. FCCB stands for –

a) Foreign currency convertible bonds  
b) Forex currency convertible bonds 
c) Form currency convertible bonds  
d) Future currency convertible bonds 


14. Banking ombudsman is appointed by – 

a) Union government  
b) RBI  
c) Respective state government  
d) Exim bank




15. How much quantity of coins to be minted decided by –
a) RBI
b) Union government
c) SBI
d) IRDA


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