Banking Awareness MCQ-4

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1)Banking Ombudsman is appointed by
a) SEBI
b) NABARD
c) RBI
d) None of these

2)Bank deposits that can be withdrawn without notice are called :
a) Demand Deposits
b) Fixed Deposits
c) On Demand and Time Deposits
d) Basic Savings Deposits

3)Mutilated Notes are ?
a) Notes which are in pieces and/or of which the essential portions are missing
b) Any bank note, which is wholly or partially, obliterated, shrunk
c) Notes which are washed, altered or indecipherable
d) Notes which are wholly or partially, obliterated, shrunk, washed, altered or indecipherable

4)FCCB stands for:
a) Finance and Currency Controller Board
b) Foreign Currency Convertible Bond
c) Foreign Collection for Cash Board
d) None of these

5)Those amounts due to vendors or suppliers that must be paid within one year is known as:
a) Loan Advances
b) Accounts Payable
c) Creditors
d) Debtors

6)The maximum compensation by Banking Ombudsman for a complaint is:
a) Rs.1 lakh
b) Rs.2 lakh
c) Rs.5 lakh
d) Rs.10 lakh

7)A money deposited in a bank that cannot be withdrawn for a preset fixed period of time is
known as:
a) Checking Account
b) Term Deposit
c) No Frills Account
d) None of These

8)RBI is lender of last resort which reveals:
a) RBI advances money to public whenever there is any emergency
b) Commercial banks give fund to the RBI
c) RBI advances necessary credit against eligible securities to financial institutions
d) All of the above

9)The securitization and Reconstruction of Financial Assets and Enforcement of Securities
Interest Act (SARFAESI) meant recovery of loans which have become NPA is not applicable
to:
a) Financial Institutes of Government
b) Non – Banking Financial Companies
c) Small & Cooperative Banks
d) None of These

10)”Microcredit” refers to:
a) Installments given by farmers against loans
b) Small credit given to poor
c) Credit given by government to improve industrialization
d) None of These

 

Answers:

1)c
2)a
3)a
4)b
5)b
6)d
7)b
8)c
9)b
10)b