Banking Awareness MCQ-8 For SBI PO 2017

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1.What is the minimum and maximum limit (in rupees) prescribed for RTGS transactions?
(a) The minimum prescribed limit is Rs. 1 lac. and maximum Rs. 10 lacs.
(b) The minimum prescribed limit is Rs. 25000 and maximum Rs. 1 lac
(c) The minimum prescribed limit is Rs. 2 lacs and there is no maximum limit
(d) The minimum limit is Rs. 25000 and there is no maximum limit prescribed
(e) The minimum is Rs. 10 lacs and maximum limit is Rs. 100 lacs.

2. The Banking Ombudsman-
(a) is in charge of bank loans for buses
(b) fixes the rates of interest for loans
(c) resolves complaints of customers
(d) issues licences for new bank branches
(e) is the head of all nationalised banks

3.The Forward Markets commission is responsible for regulation of which type of trading in india?
(a) Commodities futures Trading
(b) Currency futures Trading
(c) Equity futures Trading
(d) Derivative futures Trading
(e) All of these

4. Money laundering means-
(a) Hiding of income source mainly to avoid income Tax
(b) Money acquired through criminal source.
(c) Money acquired from undisclosed sources and deposited in foreign banks
(d) Process of conversion of money obtained illegally to appear to have originated from legitimate sources
(e) Money acquired from drug trafficking

5. Bank branches which can undertake foreign exchange business directly are Known as in foreign exchange.
(a) Authorized dealers
(b) Foreign dealers
(c) Overseas branches
(d) Approved dealers
(e) Exchange branches

6. Which of the following represents correct meaning of ‘REPO RATE’?
(a) Rate on which RBI sells Government Securities to Banks
(b) Rate for borrowing rupees by banks from RBI
(c) Rate offered by banks to their prime customers
(d) Rate applicable for grant of priority sector loans
(e) None of these

7. When a banker talks about CDR ,what is he talking about?
(a) Corporate Debt Restructuring
(b) Corporate Debt Rollover
(c) Company Debt Rollover
(d) Corporate Deposit Restructuring
(e) Company Deposit Re-structuring

8. Savings bank accounts are opened by-
(a) Trading entities, manufacturing entities and individuals for savings purposes
(b) Traders and manufactures for business purposes
(c) Individuals for savings purposes
(d) Limited companies and partnerships for savings purposes
(e) Cooperative banks for savings

9. Cash Reserve Ratio (CRR) and Statutory Liquidity Ratio (SLR) are terms most closely related to which of the following industries/markets?
(a) Capital market
(b) Banking industry
(c)Commodities market
(d) Money Market
(e) Mutual fund industry

10. What is maximum period for which domestic term deposits are normally accepted by banks in our country?
(a) 3 years
(b) 5 years
(c) 7 years
(d) 10 years
(e) 12 years