Dear Readers,
These Banking questions will help you in preparing for other upcoming banking recruitment examination.
Q1.
BCSBI was set up to ensure that the common person as a consumer of financial
services from the banking Industry is in no way at a disadvantageous position
and really gets what he/she has been promised. BCSBI stands for-?
(a)
Branch Codes and Standards Board of India
(b)
Banking Codes and Stability Board of India
(c)
Banking Codes and Standards Bank of Industry
(d)
Banking Codes and Society Board of Investment
(e)
Banking Codes and Standards Board of India
Q2.
When was the currency system in India converted into the decimal system?
(a)
April 01st 1959
(b)
April 01st 1957
(c)
April 01st 1955
(d)
April 01st 1953
(e)
April 01st 1951
Q3.
Which of the following field Dalal Street in Mumbai is famous?
(a)
NABARD
(b)
Stock Exchange
(c)
RBI
(d)
SEBI
(e)
Commerce and industry ministry
Q4.
Deposits which can be withdrawn by a customer without notice is called?
(a)
Time Deposits
(b)
Demand Deposits
(c)
Variable Deposits
(d)
Low-cost Deposits
(e)
None of the given options is true
Q5.
Which of the following is not e-banking software?
(a)
ECS
(b)
RTGS
(c)
PIPS
(d)
NEFT
(e)
M-Banking
Q6.
What is the full form of ‘FSDC’ which is used in financial sectors?
(a)
Financial Security and Development Council
(b)
Financial Stability and Development Council
(c)
Fiscal Security and Development Council
(d)
Fiscal Stability and Development Council
(e)
None of the given options is true
Q7.
An account for which a bank acts as an uninterested third party is termed as?
(a)
Savings Account
(b)
Current Account
(c)
Reserve Account
(d)
Escrow Account
(e)
Fixed Account
Q8.
A
signed undertaking from one party containing a promise to pay a stated sum
to a specified person or a company is known as ________
(a)
Power of Attorney
(b)
Promissory Note
(c)
Purchasing Power Parity
(d)
Plastic Notes
(e)
None of the given options is true
Q9.
Which of the following is defined as the difference between current assets and
current liabilities?
(a)
Venture Capital
(b)
Working Capital
(c)
Equitable Mortgage
(d)
Loss Assets
(e)
Profit and Loss Account
Q10.
A debt which is irrecoverable and is therefore written off as loss in the
accounts of an institution or bank is known as __________
(a)
external debt
(b)
good debt
(c)
bad debt
(d)
internal debt
(e)
None of the given options is true
Q11.
Many a time we read in the newspapers that RBI has changed or revised a
particular ratio/rate by a few basis points. What is basis point?
(a)
Ten percent of one-hundredth point
(b)
One hundredth of 1%
(c)
One hundredth of 10%
(d)
Ten per cent of 1000
(e)
None of the above
Q12.
Which of the following is not a type of cheque issued by an individual?
(a)
Bearer cheque
(b)
Order cheque
(c)
Crossed cheque
(d)
Savings cheque
(e)
None of the above
Q13.
What is Financial Inclusion?
(a)
To provide a permanent employment to the unemployment
(b)
To provide a 100 days job to all those who are in need of a job
(c)
Delivery of financial services at affordable costs to vast sections of
disadvantaged and low-income groups
(d)
To ensure that all financial transaction amounting Rs. 5,000/- and above are
done through banks.
(e)
None of the above
Q14.
Which of the following places in India does not have a stock Exchange?
(a)
Kolkata
(b)
Ahmedabad
(c)
Mumbai
(d)
Udaipur
(e)
None of the above
Q15.
Which of the following is the name of private sector Bank in India?
(a)
IDBI Bank
(b)
Axis Bank
(c)
Corporation Bank
(d)
UCO Bank
(e)
Dena Bank
Solutions:
1. Ans.(e)
Sol. In November
2003, Reserve Bank of India (RBI) constituted the Committee on Procedures and
Performance Audit of Public Services under the Chairmanship of Shri
S.S.Tarapore (former Deputy Governor) to address the issues relating to the
availability of adequate banking services to the common person. Therefore, the
Committee recommended setting up of the Banking Codes and Standards Board of
India (BCSBI). BCSBI was set up to ensure that the common person as a consumer
of financial services from the banking Industry is in no way at a
disadvantageous position and really gets what he/she has been promised.
2.
Ans.(b)
Sol.
The Indian currency system was converted into the decimal system by Indian
Coinage (Amendment) Act 1955 which brought into force from April 01st 1957.
3. Ans.(b)
Sol.
The Bombay Stock Exchange (BSE) is located at Dalal Street.
4. Ans.(b)
Sol.
A deposit of money that can be withdrawn without prior notice is known as
Demand Deposits, Ex:- in a current account.
5.
Ans.(c)
Sol.
ECS – Electronic Clearing Service.
RTGS
– Real Time Gross Settlement.
NEFT-
National Electronics Funds Transfer System.
Mobile
banking is a service provided by a bank or other financial institution that
allows its customers to conduct financial transactions remotely using a mobile.
PIPS
is not an e-banking software.
6.
Ans.(b)
Sol.
Financial Stability and Development Council (FSDC) is an apex-level body
constituted by the government of India. Chairperson: The Union Finance Minister
of India.
7.
Ans.(d)
Sol.
An escrow account is a temporary pass through the account held by a third party
during the process of a transaction between two parties. Definition: An escrow
account is a temporary pass through the account held by a third party during
the process of a transaction between two parties.
8.
Ans.(b)
Sol.
A promissory note is a legal instrument in which one party (the maker or
issuer) promises in writing to pay a determinate sum of money to the other (the
payee).
9.
Ans.(b)
Sol.
The capital of a business (working capital) which is used in its day-to-day
trading operations, calculated as the current assets minus the current
liabilities.
10.
Ans.(c)
Sol.
The term bad debts usually refer to accounts receivable (or trade accounts
receivable) that will not be collected.
11.
Ans.(b)
Sol.
A basis point is the smallest measure used in quoting yields on fixed income
products. Basis points also pertain to interest rates. One basis point is equal
to one one-hundredth of one percentage point (0.01%). Therefore, 100 basis
points would be equivalent to 1%.
12.
Ans.(d)
Sol.
Savings cheque is not a type of cheque issued by an individual
13.
Ans.(c)
Sol.
Financial inclusion may be defined as the process of ensuring access to
financial services and timely and adequate credit where needed by vulnerable
groups such as weaker sections and low-income groups at an affordable cost (The
Committee on Financial Inclusion, Chairman: Dr C. Rangarajan).
14.
Ans.(d)
Sol.
In Udaipur, Rajasthan does not have a Stock Exchange.
15.
Ans.(b)
Sol.
Axis Bank Ltd is one of the private-sector banks in India offering a
comprehensive suite of financial products. The bank has its head office in
Mumbai and Registered office in Ahmedabad
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