Banking Awareness MCQ-7 For SBI PO/Syndicate Bank Exam

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1.Which of the following statement is true?
(1) Banks cannot accept demand and time deposits from public.
(2) Banks can accept only demand deposits from public.
(3) Banks can accept only time deposits from public.
(4) Banks can accept both demand and time deposits from public.
(5) Banks can accept demand and time deposits only from government.

2. Which of the following is the correct statement?
(1) State bank of india is the sole authority to issue and manage currency in india.
(2)A Nationalized bank is the sole authority to issue and manage currency in india.
(3)A cooperative bank is the sole authority to issue and manage currency In india.
(4)RBI is the sole authority to issue and mange currency in india.
(5) None of these

3. Accounts are allowed to be operated by cheques in respect of
(1)Both Savings bank accounts and fixed deposit accounts
(2) Savings bank accounts and current accounts
(3) Both Savings bank accounts and loan accounts
(4) Both Savings bank accounts and cash accounts only.
(5) Both Current accounts and fixed deposit accounts.

4.Many times we read a term CBS used in banking operations. What is the full form of the letter ‘C’ in the term ‘CBS’?
(1) Complete
(2) Credit
(3) Continuous
(4) Core
(5) None of these

5.Which of the following schemes is launched specifically for helping senior citizens to avail loan by mortgage of their residential property?
(1) English mortgage scheme
(2) Senior Capital loan scheme
(3) Reverse Mortgage loan scheme
(4) Senior Citizen personal loan scheme
(5) None of these

6.SEBI is a
(1) Advisory body (2) Statutory body
(3) Constitutional body
(4) Non-statutory body
(5) Registered as a Society

7. A WorldWide financial messaging network which exchanges messages between banks and financial institutions is known as-
(1) CHAPS
(2) SWIFT
(3) NEFT
(4) SFMS
(5) CHIPS

8.Which among the following schemes is related exclusively to Financial inclusion?
(1) Swawlamban
(2) Swadeshi
(3) Swabhiman
(4) SGSY
(5) None of these

9. For which one of the following reasons Basel II norms are to be followed by commercial Banks?
(1) Risk management
(2) Adoption of international accounting standards
(3) Restriction on bonus payments to bank executives
(4) Transparency in disclosures
(5) None of these

10.What is the full form of term LIBOR as used in financial/banking sectors?
(1) Local Indian Bank offered Rate
(2) London- India Bureau of Regulations
(3) Liberal international Bank official Ratio
(4) London Inter Bank offered Rate
(5) None of these