Banking Awareness

1.With reference to the insurance and banking sector, which of the following is the most appropriate explanation of "PIN‟?

Postal Index Number Personal Index Number Personal Identification Number Personal Information Number

2.The rate at which the central bank of a country lends money to commercial banks in the event of any shortfall of funds is called

Call Rate CRR Bank Rate Repo Rate

3.In a bid to curtail domestic black money flow, the finance ministry has announced that it will be mandatory tofurnish permanent account number (PAN) for all transactions above Rs.________ through all payment modes with effect from January 1, 2016.

Rs. 1 lakh Rs. 2 lakh Rs. 3 lakh Rs. 4 lakh

4."Once a bearer is always a bearer " means that

Where a cheque is originally expressed to be the bearer to the bearer, the banker is discharged by payment in due course to the bearer. Banker can pay the cheque to the bearer irrespective of any endorsement whether in full or in blank appearing thereon, notwithstanding that any such endorsement purports to restrict or exclude further negotiation Both A and B None of the above

5.Banking Ombudsman entertains complaints involving

Delay in collection of cheques Deficiency in cash transactions Non-issue of demand drafts all of the above