Thursday 29 June 2017

Banking Awareness


Q1. Interest on the savings bank accounts is compounded ____?
(a) Daily
(b) Yearly 
(c) Quarterly 
(d) Half-yearly
(e) All of the above

Q2. The Head of Reserve Bank of India is?
(a) Chief Executive Officer 
(b) Managing Director 
(c) Chief Banking Officer 
(d) Governor
(e) Other than the given options

Q3. Who supplies interest-charts for different maturities and for different rates of interest?
(a) IBA
(b) RBI
(c) Government of India
(d) IBRD
(e) Other than the given options

Q4. Rates of Interest on deposits are determined by ____?
(a) IBA 
(b) Ministry of Finance 
(c) The Bank Itself
(d) Government of India
(e) Other than the given options

Q5. Current account becomes dormant when there are no withdrawals for the last _____?
(a) 3 months
(b) 6 months
(c) 24 months
(d) 12 months 
(e) Other than the given options

Q6. _______________ is a standard format of Bank Identifier Codes (BIC) for banks to identify banks and financial institutions globally.
(a) RTGS
(b) IFSC
(c) NEFT
(d) SWIFT
(e) SEPA

Q7. Stock Holding Corporation of India Ltd (SHCIL) was established as a ________ company.
(a) Private Limited
(b) Unlimited
(c) Public limited
(d) Limited Liability Partnership
(e) Other than the given options

Q8. The National Stock Exchange (NSE) is the leading stock exchange in India and the fourth largest in the world by equity trading volume in 2015, according to World Federation of Exchanges (WFE). Where is the corporate office of NSE?
(a) Gurugram
(b) Chennai
(c) New Delhi
(d) Kolkata
(e) Mumbai

Q9. The Head Quarters of Society for Worldwide Interbank Financial Telecommunication (SWIFT) is located in ________
(a) Bern, Switzerland
(b) La Hulpe, Belgium
(c) Geneva, Switzerland
(d) New York, USA
(e) Vienna. Austria

Q10. How many codes are there in SWIFT code?
(a) 8
(b) 11
(c) 7
(d) Both (b) and (c)
(e) Both (a) and (b)

Q11. These days Banks are offering Loans against Property. Under which business segment, this activity may be categorized? 
(a) Corporate Banking  
(b) Personal Banking 
(c) Merchant Banking 
(d) Portfolio Management-Services 
(e) Other than the given options

Q12. What do we mean by “ECB” in financial terms?
(a) Essential Commercial Borrowings     
(b) Essential Credit & Borrowings  
(c) External Credit & Business 
(d) External Commercial Borrowings
(e) Other than the given options

Q13. “Currency Swap” is an instrument to manage ____?
(a) Currency Risk 
(b) Interest Rate Risk     
(c) Currency and Interest Rate Risk 
(d) Cash Flows in different currencies
(e) All of the above 

Q14. “Plastic Money” denotes ________?
(a) Bearer cheque
(b) Credit card   
(c) Demand Draft   
(d) Traveller’s cheque
(e) Gift cheque

Q15. RBI has recently introduced Cheque Truncation System, which means that ______?
(a) Physical movement of a cheque is stopped between banks and instead an electronic image be exchanged for clearance of funds  
(b) The physical movement of a cheque for clearance of funds be made more secure 
(c) Issue of cheques to customers be made more secure by introducing more enhanced security features 
(d) A new technology to process payments between Banks exclusively  
(e) Other than the given options

Solutions

S1. Ans.(a)
S2. Ans.(d)
S3. Ans.(a)
S4. Ans.(c)
S5. Ans.(c)
S6. Ans.(d)
S7. Ans.(c)
S8. Ans.(e)
S9. Ans.(b)
S10. Ans.(e)
S11. Ans.(b)
S12. Ans.(d)
S13. Ans.(d)
S14. Ans.(b)
S15. Ans.(a)

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