Dear Readers,
Welcome to the world of Banking and Financial Awareness. With SBI PO Prelims round the corner, it should be your priority to cover every aspect of Banking and Financial Awareness on daily basis. Let us see how many questions you attempt accurately.
Q1. Interest on the savings bank accounts is compounded ____?
(a) Daily
(b) Yearly
(c) Quarterly
(d) Half-yearly
(e) All of the above
Q2. The Head of Reserve Bank of India is?
(a) Chief Executive Officer
(b) Managing Director
(c) Chief Banking Officer
(d) Governor
(e) Other than the given options
Q3. Who supplies interest-charts for different maturities and for different rates of interest?
(a) IBA
(b) RBI
(c) Government of India
(d) IBRD
(e) Other than the given options
Q4. Rates of Interest on deposits are determined by ____?
(a) IBA
(b) Ministry of Finance
(c) The Bank Itself
(d) Government of India
(e) Other than the given options
Q5. The Current account becomes dormant when there are no withdrawals for the last _____?
(a) 3 months
(b) 6 months
(c) 24 months
(d) 12 months
(e) Other than the given options
Q6. If a bank is unable to refund the short term deposits as funds are locked in long term loans, it involves?
(a) Interest Rate Risk
(b) Operational Risk
(c) Liquidity Risk
(d) Market Risk
(e) Other than the given options
Q7. If a cheque presented to the Clearing House is returned unpaid for any reason, the banker has to enclose the cheque to a Returning Memo while returning the instrument to the customer. This provision has been prescribed under…?
(a) Negotiable Instruments Act, 1881
(b) Reserve Bank of India Act, 1934
(c) Banking Regulation Act, 1949
(d) RBI Clearing House Rules
(e) Other than the given options
Q8. If a currency note is demonetized, it takes away the ________ of that currency.
(a) legal tender character
(b) exchange rate
(c) value
(d) All of the above
(e) Other than the given options
Q9. If credit facility applied for is rejected, the reasons, therefore should be briefly mentioned in the-
(a) Loan Applications Received and Disposal Register
(b) Opinion Reports
(c) Loan Rejection Register
(d) All of the above
(e) Other than the given options
Q10. In the case of Term Loans, the period of limitation is calculated as three years from?
(a) Date of documents
(b) Date of sanction
(c) Date of default
(d) Due date of each installment
(e) Other than the given options
Q11. These days Banks are offering Loans against Property, under which business segment, this activity may be categorized?
(a) Corporate Banking
(b) Personal Banking
(c) Merchant Banking
(d) Portfolio Management-Services
(e) Other than the given options
Q12. What do we mean by “ECB” in financial terms?
(a) Essential Commercial Borrowings
(b) Essential Credit & Borrowings
(c) External Credit & Business
(d) External Commercial Borrowings
(e) Other than the given options
Q13. “Currency Swap” is an instrument to manage ____?
(a) Currency Risk
(b) Interest Rate Risk
(c) Currency and Interest Rate Risk
(d) Cash Flows in different currencies
(e) All of the above
Q14. “Plastic Money” denotes ________?
(a) Bearer cheque
(b) Credit card
(c) Demand Draft
(d) Traveller’s cheque
(e) Gift cheque
Q15. RBI has recently introduced Cheque Truncation System, which means that ______?
(a) Physical movement of a cheque is stopped between banks and instead an electronic image be exchanged for clearance of funds
(b) The physical movement of a cheque for clearance of funds be made more secure
(c) Issue of cheques to customers be made more secure by introducing more enhanced security features
(d) A new technology to process payments between Banks exclusively
(e) Other than the given options
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