Banking and Economy

1."Primary Deficit" refers to

Fiscal Deficit minus Interest Payments Budget Deficit minus Interest Payments Monetary Deficit minus Interest Payments Deficit Financing by 91 -day ad hoc treasury bills

2.Banker may reduce lending risk by

Ensuring that there will be no default on account of lack of willingness to pay on the part of the borrower Ensuring that there will be no problem of liquidity with the borrower Obtaining adequate security all of the above

3.Bankers have to maintain secrecy of customers accounts as per the provisions of

Banking Companies Act, 1970 Negotiable Instruments Act, 1881 Banking Regulation Act, 1949 None of the above

4.Banking Code & Standards Board of India (BSSBI) has been set up for providing details of banking and to create awareness of banking. BCSBI has been set up by

SBI RBI Ministry of finance None of these

5.A mortgage involves

transfer of ownership transfer of possession transfer of interest All of the above

Banking Awareness Questions

1.The definition of “Customer" is available under

Negotiable Instruments Act, 1881 Consumer Protection Act, 1986 Banking Regulation Act, 1949 KYC Guidelines

2.The Law relating to appropriation of payments is contained in

The Negotiable Instruments Act, 1881 The Banking Regulation Act 1949 The Contract Act, 1872 The Companies Act, 1956

3.Teller System has been introduced in almost all the banks. Its purpose is

to create more jobs to improve public relations to slash down the waiting time for encasing cheques to eliminate duplication of work

4.Which of the following types of companies /organisation issue "ULIP‟?

Insurance Companies Banks NABARD RBI

5.Which of the following is not a term related to banking/finance operations?

Provision Coverage Ratio Securitization Consolidation Commodification

Banking and Economy

1.The full form of RBS is

Risk Based Supervision Rating by System Role Based supervision Rating Bank security

2.State Bank of India has........ circles.

9 12 14 16

3.Under hire -purchase system, the buyer becomes the owner of goods immediately after the

delivery of goods down Payment signing of the of the agreement payment of the last instalment

4.Under hire -purchase system, the asset can be got ensured by

Buyer Seller Both A and B None of these

5.National Income of India's estimated by

Central Estimates Survey Committee National sample Survey Committee Central Statistical Organization Finance Ministry

General Knowledge

1.Banks stipulate interest rate on loss and advances based on

Borrower's experience Track record Credit rating None of these

2.Expand 'VIRUS" in computer parlance.

Variable Integrated Risks under Surveillance vital Information Resource Under Siege Very Independent Resource Under Seizure None of the above

3.Expand “SHIPI ".

State Bank Heritage Private Institute SBI Handicapped Standards Board Self Help Promotion Institution None of the above

4.Expand IASB.

International Accounting standards Board Indian Accounting Standards Boards Internal Accounting Standards bureau Indian accounts Standards Board

5.INFINET Stands for

Internal Financial Networking International Financial Networking Indian Financial Network Inland Financial Network

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