MCQs on Banking Affairs -25

1.Which of these should be practiced when using a credit card?
(a) Pay only the minimum balance since it is allowed 
(b) Throw away the receipt signed by you immediately afterreceiving from the cashier
(c) Memories your PIN number and do not leave your PIN number in your wallet
(d) Maintain as many cards as possible for convenience  5.None of these



2.In India, the Chit funds are governed / regulated by ___.
(a) RBI
(b) Central Government           
(c) State Governments
(d) Local Bodies



3.Which of the statement on Islamic banking is incorrect?  
(A)  Islamic banking is only for Muslims   
(B)  Islamic banking activity do not allow paying and receiving of interest   
(C)  Islamic banking promotes the principle of profit sharing between banking institution and depositor

(a) Only A
(b) Only B
(c) Only C
(d) Both B and C



4.A joint account mandates both account holders to sign,it means that -  
(A)  Any deposit made must be signed by both parties   
(B)  Any withdrawal made must be signed by both parties   
(C)  Any deposit and withdrawal made must be signed by both parties

(a) Only A
(b) Only B
(c) Only C
(d) Both B and C



5.What is the role of the Credit Bureau?   
(A)  Blacklist borrowers with bad credit record.
(B)  Collects credit information on borrowers and supplies the information back to lenders 
(C)  Gives credit assessment of borrowers  
(D)  Dictates credit decisions of financial institutions

(a) Only A
(b) Only B
(c) Only C
(d) Only D



6.Which of the following will not help you in reducing your budget deficit?
(A)Trimming of unnecessary expenses 
(B) Creating a spending plan and monitoring expenses
(C)Borrow from friends to meet daily expenses  
(D)Taking a money management course

(a) Only A
(b) Only B
(c) Only C
(d) Only D



7.Which one of the following was the purpose of the appointment of Rangachary committee?
(a)Taxation of software Development Centres & IT Sector
(b)Taxation of Biotechnology and Pharmacy sector
(c)Taxation of MSME sector
(d) None of the above


8.Once a Budget has been presented in the Parliament, the government has to get all money bills related to the union budget passed within ________.
(a) 30 Days
(b) 60 Days
(c) 75 Days
(d) 90 Days



9.The difference between the outflow and inflow of foreign currency is known as ___
(A)  Foreign Exchange Reserves 
(B)  Current Account Deficit
(C)  Fiscal Deficit
(D)  Balance of Payments 

(a) Only A
(b) Only B
(c) Only C
(d) Only D


10.The network for common data communication for banks and FIs launched by RBI
(a) BANKNET
(b) INFINET
(c) SWIFT
(d) INTERNET


11. Banking sector comes under which sector?
(a) Services sector
(b) Manufacturing sector
(c) Realty sector
(d) Industrial sector


12. What is ‘STT’?
(a) Standard Transaction Tax
(b) Securities Transaction tax
(c) Securities Transfer tax
(d) Standard Transfer tax



13. Where is the headquarters of World Bank situated?
(a) Paris
(b) New York
(c) Basel
(d) Washington D.C.



14. Which of the following scheme is related to Financial Inclusion?
(a) AADHAR
(b) AAY
(c) Swabhiman
(d) Swavalamban


15. Which of the following is not a credit rating agency?
(a) WADA
(b) Fitch
(c) CRISIL
(d) Moody

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