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1. MICR code consists of how many digits? 15. PIN is a number allocated to an individual and used to
Ans: 9 digits. validate electronic transactions. Expand PIN:
(First three digits denotes city, next three digits Ans: Personal Identification Number
representing the bank and the last three digits 16. What is Repo rate?
representing the bank branch) Ans: It is the rate is the rate at which RBI lends money
2. What is the minimum limit in RTGS system? to the commercial banks.
Ans: 2 lakhs (there is no upper limit in RTGS) 17. What is Stale Cheque?
3. What is full form of CTS? Ans: A cheque which is presented to a bank after 3
Ans: Cheque Truncation System months from date of issue is considered as stale cheque
4. Under which service, customers may access their bank and will often not be honored for cash or deposit at a
account and perform basic transactions from any of the bank.
member branch offices. 18. What is Bancassurance?
Ans: Core Banking Solution (CBS) Ans: The selling of life assurance and other insurance
5. Exchange of cash flow in different currency is known products and services by banking institutions.
as: 19. The objective of KYC guidelines is to prevent banks
Ans: Currency Swap from being used, intentionally or unintentionally, by
6. Assets or loans which stop performing after 90 days is criminal elements for money laundering or terrorist
known as: financing activities. What is the full form of KYC?
Ans: Non Performing Asset (NPA) Ans: Know Your Customer (KYC)
7. Who controls the Monetary Policy in India? 20. Know Your Customer (KYC) guidelines are issued
Ans: RBI (Reserve Bank of India) under:
8. Which card is issued by NPCI (National Payments Ans: Section 35A of the Banking Regulation Act,
Corporation of India)? 1949
Ans: RuPay Card 21. In BSBDA (Basic Savings Bank Deposit Account) the
9. Definition of Current Account deficit: credits in a financial year does not exceed rupees:
Ans: A measurement of a country's trade in which the Ans: Rs. 1 lakh
value of goods and services it imports exceeds the value 22. In BSBDA (Basic Savings Bank Deposit Account) the
of goods and services it exports. balance at any point of time does not exceed rupees:
10. Full form IFSC – Ans: Rs. 50,000
Ans: Indian Financial System Code 23. In BSBDA (Basic Savings Bank Deposit Account) the
11. Commercial paper can be issued for a maximum period withdrawals and transfers in a month does not exceed
of: rupees:
Ans: 365 days or 1 year. Ans: Rs. 10,000
12. The Mutual funds in India follow accounting standards 24. At which rate RBI give loans to commercial banks?
laid by: Ans: Repo rate
Ans: SEBI (Securities and Exchange Board of India) 25. Full form of CASA:
13. Minimum amount for Certificate of Deposit has been Ans: Current Account Saving Account
fixed at: 26. In what denominations Commercial Paper (CP) can be
Ans: Rs. 1 Lakh issued?
14. AML is a term mainly used in the financial and legal Ans: Rs. 5 lakh
industries. Expand the term AML:
Ans: Anti Money Laundering 27. What is the minimum denomination of Treasury bills to
issue in India?
61. How much fee charged to file a complaint under Ans: Marginal Standing Facility (MSF)
Banking Ombudsman? 76. Who issues Treasury bills (T-bills) in India?
Ans: Banking Ombudsman does not charge any fee Ans: Government of India
62. Who is the appellate authority in Banking 77. Treasury bills are available for a minimum amount of:
Ombusdsman? Ans: Rs. 25,000
Ans Deputy Governor of RBI 78. Minimum & Maximum Limit of NEFT:
63. If any customer is not satisfied by the decision of Ans: no limit
Banking Ombudsman, customer can appeal against the 79. What is the rate of interest rate on provident fund for
award before the appellate authority within how many the current fiscal?
days from the date of receipt? Ans: 8.75%
Ans 30 days 80. Govt. to implement GST (Goods & Services Tax) new
64. ATMs or Cash Dispensing machine which are owned indirect tax regime from:
and operated by Non-Banking Financial Companies are Ans: 1st April 2016
called: 81. RBI extends deadline for exchanging pre-2005
Ans: White Label ATMs. currency from June 30, 2015 to
65. RBI gave in-principle for Banking license to: Ans: December 31, 2015
Ans: IDFC and Bandhan 82. How much amount RBI allows in 'Tap and pay'
66. Minimum capital requirement for new banks in private transactions without PIN?
sector is: Ans: Rs. 2000
Ans: Rs. 500 crore 83. RBI lifted a ban on carrying Indian bank notes of Rs
67. A Non-Banking Financial Company (NBFC) is a 1,000 and Rs. 500 denominations to and from:
company registered under the: Ans: Nepal and Bhutan
Ans: Companies Act, 1956 84. C stands for in "KYC":
68. Minimum capital requirement for Non-Banking Ans: Customer
Financial Company (NBFC) is: 85. Pension scheme for unorganized sector:
Ans: Rs. 500 crore Ans: Swavalamban
69. The NBFCs are allowed to accept/renew public 86. Full form of REIT:
deposits for a minimum period of: Ans: Real State Investment Trust
Ans: 12 months ( and maximum period of 60 months) 87. Forward Market Commission merge with:
70. A NBFCs cannot offer interest rates higher than the Ans: SEBI
ceiling rate prescribed by RBI? What is the present 88. Purpose of starting Minor account for 10 years
ceiling? children:
Ans: 12.5 per cent per annum Ans: Financial inclusion
71. Minimum capital requirement for Foreign banks that 89. Full form of CVV:
want to set up operations in India is: Ans: Card Verification Value
Ans: Rs. 500 crore 90. Bank of International Settlement headquarter:
72. What is the minimum paid-up capital requirement of Ans: Switzerland
both small banks and payments banks in India? 91. Who appoints Banking Ombudsman officer?
Ans: Rs. 100 crore Ans: RBI
73. RBI extended the timeline for full implementation of 92. IFRS full form:
Basel III norms till: Ans: International Financial Reporting Standards.
Ans: 31 March 2019 93. Corporate Social Responsibility committee headed is by
74. SLR ((Statutory Liquidity Ratio)is the amount a Ans: Anil Baijal
commercial banks needs to maintain in the form of 94. Which is the Regulatory body for RRBs?
_______before providing credit to its customers. Ans: NABARD
Ans: cash, or gold, or govt. approved securities 95. RBI policy related to money laundering?
(Bonds) Ans: Know Your Customer
75. _______ is the rate at which banks borrow funds 96. Mutual funds regulated by:
overnight from the Reserve Bank of India (RBI) against Ans: SEBI (Securities and Exchange Board of India)
approved government securities. 97. What is the full form of MTSS?
Ans: Money Transfer Service scheme 117. Mobile banking fund transfer limit in a day:
98. How much amount of money can RBI lend to a bank? Ans: Rs. 50,000
Ans: 2% of NDTL 118. The seed capital of Bhartiya Mahila Bank is:
99. What RBI does to Increase its Monetary Base? Ans: Rs.1000 crore
Ans: OMO Open Market Operations 119. “Lender of the Last Resort” by Banks is known as:
100. Which rate does RBI Reduces to Increase liquidity in Ans: RBI
market? 120. “Fixed deposit” is also referred to as:
Ans: Repo Rate Ans: Term Deposit
101. After completion of 15 years, Public Provident Fund 121. The holidays for the banks are declared as per:
(PPF) can be extended up to how many years? Ans: Negotiable Instruments Act
Ans: 5 years 122. In banking business, when the borrowers avail a term
102. Short term Money lending process is known as: Loan, initially they are given a repayment holiday and
Ans: Call Money this is referred as:
103. Treasury bill tenure: Ans: Moratorium
Ans: 91 days, 182 days, 364 days 123. Regulator of Micro, Small and Medium enterprises in
104. Minimum limit for medium scale enterprises is Rs. 5 India:
Cr. what is maximum limit? Ans: SIDBI (Small Industries Development Bank of
Ans: 10 Cr. India)
105. Prime Lending Rate is replaced by: 124. A worldwide financial messaging network which
Ans: Base rate exchanges between banks and financial institutions is
106. Banks cannot grant Loan below which rate: known as:
Ans: Base Rate Ans: Structured Financial Messaging System (SFMS)
107. If RBI reduces CRR, what happens: 125. The term “Smart Money” refers to:
Ans: Credit Supply increases, loans get cheaper. Ans: Credits Card
108. Name the scheme to include every people under 126. The maximum deposit amount insured by DICGC?
banking system: Ans: Rs. 1 lakh per depositors across all banks
Ans: Financial Inclusion 127. With reference to a cheque which is the ‘drawee
109. Special Drawing Right (SDR) is a monetary unit of: bank’?
Ans: IMF Ans: The bank upon which the cheque is drawn
110. Cheque which is not crossed is called: 128. In which of the following fund transfer mechanisms,
Ans: Open cheque can funds be moved from one bank to another and
111. Teaser rates are related to which type of loans: where the transaction is settled instantly without being
Ans: Home loans bunched with any other transaction?
112. What is Teaser loan? Ans: RTGS
Ans: If a bank offers a slightly lower rate in the initial 129. Bad advances of a Bank are called:
years and higher rate in later years, it is called a teaser Ans: Non – performing Asset
loan. 130. By increasing repo rate, the economy may observe the
113. The RBI policy rate which is purely an indicative rate following effects:
used by RBI to signal long – term outlook on interest Ans: rate of interest on loans and advances will be
rates is: costlier
Ans: Bank rate 131. Increased interest rates, as is existing in the economy
114. The term ‘pre – shipment’ finance relates to: at present will:
Ans: export credit Ans: mean higher cost of raw materials
132. The sole authority to issue and manage currency in
115. A receipt listed in India and traded in rupees declaring India:
ownership of shares of a foreign company: Ans: RBI
Ans: Indian Depository Receipt (IDR) 133. In India, one- rupee coins are issued by:
116. With effect from July 2012, for calculating of lending Ans: Govt. of India
rates, the RBI has advised banks to switch over to the: 134. Fixed deposits and recurring deposits are:
Ans: Base Rate systems Ans: repayable after an agreed period