a means of financing traders and manufactures by taking over their receivables

a means of providing post-shipment finance to exporters

a type of agriculture financing

an embedded circuit with micro processor chip embedded in it so that it could perform calculations maintain records and act as electronic pursue.

built in facility for protection against fraudulent operations

can either be rechargeable or exchangeable

Practice Banking Awareness Miscellaneous Multiple Choice Questions Quiz-16

Q.1

Idea of insuring deposits kept with banks received attention for the first time in the year 1948 after the banking crises in?

Maharashtra
Karnataka
AP
Bengal

Q.2

Which committee first time in India supported the concept of Insuring Deposits?

Rural Banking Deposit Committee
Urban Banking Enquiry Committee
Rural Banking Enquiry Committee
SBI Rural Banking Enquiry Committee

Q.3

Ultimate controller of Bank Deposits is?

RBI
Finance Secretary
Ministry of Finance
Controller of Deposits

Q.4

In period of depression when the Reserve Bank desires to encourage the banking system to create more credit it

reduces the bank rate
raises the bank rate
permits the bank rate to be decided by market forces
All of the above

Q.5

Which of the following fall under the qualitative method of credit control adopted by RBI?

Selective credit control
Moral suasion
Credit authorization scheme
All of the above

Q.6

Scheduled bank refers to a bank

authorized by central government to transaction government business
registered with ministry of finance , govt. of India
Which is included in the second schedule to the RBI act, 1934
incorporated as a cooperative society

Q.7

Factoring is

a means of financing traders and manufactures by taking over their receivables
a means of providing post-shipment finance to exporters
a type of agriculture financing
None of these

Q.8

Smart card can be

an embedded circuit with micro processor chip embedded in it so that it could perform calculations maintain records and act as electronic pursue.
built in facility for protection against fraudulent operations
can either be rechargeable or exchangeable
All of the above

Q.9

Commercial banking system means

Scheduled and non-Scheduled banks
Private sector and public scheduled banks
Both (a) and (b)
Regional rural banks, co-operative banks and NBFCs

Q.10

The Deposit Insurance Act came in to force in on 1st January

1954
1948
1979
1962

Q.11

Each depositor in a bank is insured up to a maximum of ....... by Deposit Insurance and Credit Guarantee Corporation (DICGC)?

Rs. 2 lakh
Rs.3 lakh
Rs.5 lakh
Rs.1 lakh

Q.12

DICGC is the wholly owned subsidiary of?

SBI
NABARD
Union Government
RBI

Q.13

Banks usually collect penal rate of interest on ____ for the premature withdrawal of fixed deposits?

Principal
Rate of interest
Minimum deposit amount
Maturity amount

Q.14

Fixed deposits can have

Nomination facility
Nomination facility with the permission of Bank Chairman
Nomination facility by taking special permission from bank
Nomination facility on the day of closing

Q.15

As per the direction of RBI on 29 October 2013, the banks can pay rate of interest on Fixed deposits'?

At intervals shorter than quarterly intervals also
Pay on quarterly basis alone
On half yearly basis only
As per the direction of government of India

Q.16

Smart card has been introduced on the recommendations of which committee among the following?

Rangarajan committee
Panneerselvam committee
Saraf committee
Nayak committee

Q.17

Which of the following is NOT a source of funds of a commercial bank?

Borrowings from RBI
Call money
Deposits
Cash reserves with RBI