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1In which section Non-Scheduled Commercial Banks are defined?
Clause (c) of section 6 of the Banking Regulation Act, 1949 (10 of 1949)
Clause (c) of section 5 of the Banking Regulation Act, 1949 (11 of 1949)
Clause (c) of section 5 of the Banking Regulation Act, 1949 (10 of 1949)
Clause (c) of section 6 of the Banking Regulation Act, 1949 (10 of 1949)
 

Right Answer: 3
Non-scheduled bank in India means a banking company as defined in clause (c) of section 5 of the Banking Regulation Act, 1949 (10 of 1949), which is not a scheduled bank.
Question ID: 109

2Pairs of Financial Institutions and year of establishments are given hereunder. Which of the following is wrongly paired?
RBI - 1949
IFCI - 1948
IDBI -1964
SIDBI - 1990
 

Right Answer: 1
Reserve Bank of India was establised in 1935 and nationalised in 1949. Others are correct.
Question ID: 122

3What is the full name of UPI, popular money transfer system in India?
Universal Payments Interface
Universal Payments on Internet
Unified Payments Interface
Unified Payments on Internet
 

Right Answer: 1
The unified payments interface or the UPI is an interface via which you can transfer money between bank accounts across a single window.
Question ID: 433

4When did the Government of India set up Regional Rural Banks (RRBs) by issuing oridinance?
February 2, 1975
August 15, 1976
October 2, 1975
September 26, 1976
 

Right Answer: 3
The Government of India set up Regional Rural Banks (RRBs) on October 2, 1975 by issuing oridinance. Later RRB act 1976 was passed by parliament on 26-09-1976.
Question ID: 110

5Which of the following is not an alternative delivery channel in banking?
UPI
Mobile Banking
Debit & Credit Cards
NPCI
 

Right Answer: 4
National Payments Corporation of India (NPCI), enabling digital payments and settlement systems in India, is an initiative of RBI and IBA.
Question ID: 464

6Which of the following statement is false?
Rupay Debit cards, prepaid cards are accepted at POS
Rupay Cards are accepted at ATMs and Mini ATMs
Rupay Cards are accepted for E.Commerce
Rupay Cards are expensive
 

Right Answer: 4
RuPay is the Indian domestic card payment network being set up by National Payments Corporation of India (NPCI) at the behest of banks in India. Rupay reduces overall transaction cost for the banks in India by introducing competition to international card
Question ID: 136

7Who was the first Indian appointed as the Governor of Reserve Bank of India?
M.Narasimham
Dr.Shanmugam Chettiyar
Sir.Benegal Rama Rau
Sir C.D.Desh Mukh
 

Right Answer: 4
Sir C.D. Deshmukh, CIE, ICS, was an Indian civil servant and the first Indian to be appointed as the Governor of the Reserve Bank of India in 1943 by the British Raj authorities.
Question ID: 528

8Which of the following institution has introduced Rupay Cards in India?
Reserve Bank of India
National Payment Corporation of India
State Bank of India
Indian Banker's Association
 

Right Answer: 2
RuPay is the Indian domestic card payment network being set up by National Payments Corporation of India (NPCI) at the behest of banks in India. This project had been conceived by Indian Banker's Association and has the approval of Reserve Bank of India.
Question ID: 134

9State Bank of India Day is observed on which of the following day?
30 April
1 July
25 October
30 November
 

Right Answer: 2
State Bank of India was founded on 1 July, 1955. State Bank of India observes July 1st as its Bank Day.
Question ID: 125

10Which of the following is not a Private Sector Bank?
ICICI
AXIS
Repco Bank
City Union Bank
 

Right Answer: 3
Repco Bank is a cooperative bank established by the Government of India in 1969 to improve financial needs of repatriates from neighbouring countries mainly from Sri Lanka and Burma.
Question ID: 116

11Which of the following is the role of NABARD?
Providing refinance to lending institutions in rural areas
Bringing about or promoting institutional development and
Evaluating, monitoring and inspecting the client banks
All the above
 

Right Answer: 4
National Bank for Agriculture and Rural Development is an apex supervisory body for overall supervision of regional rural banks and apex cooperative banks in India. It is under the jurisdiction of Ministry of Finance, Government of India.
Question ID: 121

12Where is Asian Development Bank headquartered in?
Tokyo
Manila
London
Dhaka
 

Right Answer: 2
The Asian Development Bank is a regional development bank established on 19 December 1966, which is headquartered in Metro Manila, Philippines.
Question ID: 137

13The acronym NEFT stands for
National Electrical Funds Transfer
National Electronic Funds Transaction
National Electronic Funds Transfer
National Electronic Financial Transfer
 

Right Answer: 3
National Electronic Funds Transfer (NEFT) NEFT is electronic funds transfer system, which facilitates transfer of funds to other bank accounts in other bank branches across the country.
Question ID: 142

14Where are the head quarters of Repco Bank?
Gauhathi
Chennai
Puducherry
Cochi
 

Right Answer: 2
Repco Bank is a cooperative bank established by the Government of India in 1969 to improve financial needs of repatriates from neighbouring countries mainly from Sri Lanka and Burma.
Question ID: 112

15Where is IDRBT located?
Hyderabad
Pune
Lucknow
Mangalore
 

Right Answer: 1
The Institute for Development & Research in Banking Technology (IDRBT) is an engineering training institution exclusively focused on banking technology. Established by the Reserve Bank of India (RBI) in 1996 at Hyderabad.
Question ID: 624

16Which of the following are not the Scheduled Commercial Banks?
Urban Co-Operative Banks
Regional Rural Banks
State Bank of India and Associates
Nationalised Banks
 

Right Answer: 1
Scheduled Banks in India constitute those banks which have been included in the Second Schedule of Reserve Bank of India(RBI) Act, 1934.
Question ID: 123

17Which of the following statement is not true in respect of Debit Card features?
Debit Cards can not be used at POS
Online payments can be made using Debit Cards
Debit Card holder has to maintain balance in the account.
Debit Card holder can draw cash from any ATM
 

Right Answer: 1
A debit card (also known as a bank card or check card) is a plastic payment card that provides the cardholder electronic access to his or her bank account(s) at a financial institution. Debit Cards can be used at Point of Sales (POS) for payments.
Question ID: 127

18Which of the following statement is false?
Banking Regulation Act, 1949
Negotiable Instrument Act, 1881
Reserve Bank Of India Act, 1935
State Bank of India Act, 1955
 

Right Answer: 3
Reserve Bank of India Act, 1934 is the legislative act under which the Reserve Bank of India was formed on 1st April, 1935.
Question ID: 126

19Which of the following is not a right combination?
GDP: Gross Domestic Product
CRR: Cash Reserve Ratio
NPCI: National Payment Corporation of India
SLR: Statutory Limit Ratio
 

Right Answer: 4
SLR: Statutory liquidity ratio refers to the amount that the commercial banks require to maintain in the form of gold or govt. approved securities before providing credit to the customers.
Question ID: 130

20Under which act, holidays are declared for Banking and Financial Institutions in India?
Banking Regulation Act, 1949
Reserve Bank Of India Act, 1935
Negotiable Instruments Act, 1881
None
 

Right Answer: 3
Bank holidays are declared as per Sec.25 of NI Act, 1881 with specific reference to payment of negotiable instruments to be paid on the previous working day.
Question ID: 140


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