a) December 1994
b) November 1994
c) September, 1994
d) October, 1994
e) None of These
2. Which Union Territory recently presented a tax free budge of Rs.6100 Crore for its self:
a) Chandigarh
b) Puducherry
c) Dadra Nagar Haweli
d) Mumbai
e) None of these
3. What is the maximum age for retirement for MD/CEO of all private banks is
a) 60 years
b) 62 years
c) 65 years
d) 70 years
e) None of these
4. 'Financial Exclusion' is:
a) Exclude the Finance
b) Lack of Access to Financial Services
c) Instability of Financial Services
d) Instability Service
d) None of these
5. What EBT stands for
a) Electronic Beginning Transaction
b) Electronic Benefit Transfer
c) Electric Belated Transfer
d) Electrical Balance Transaction
d) None of these
6. "Bank of Rajasthan" merged with which bank of the following banks?
a) Global Trust Bank
b) ICICI Bank
c) Axis Bank
d) HDBI Bank
e) None of these
7. 'Drawee’ in the bank cheque is:
a) Who rejects the payment of cheques
b) Who encash the cheques
c) Always the Banker
d) Who receives the cheques
e) None of these
8. Biggest tax paying sector in India is:
a) Agricultural Sector
b) Banking Sector
c) Industrial Sector
d) Communication Sector
e) None of these
9. Which of the following is correct about ATM:
a) ATM is a computer which is dedicated to perform certain specific Jobs only
b) ATM is a user friendly machine and the customer does not require any training to use it
c) ATM is totally menu driven which displays instructions to the customers step by step for
operating the same
d) All of the above
e) None of these
10. "Hum Hai Na" is slogan of which of the following banks:
a) ICICI Bank
b) Punjab National Bank
c) Vijaya Bank
d) Allahbad Bank
e) None of these
11. KYC is:
a) Know Your Customer ID
b) Know Your Customer
c) Know Your Cheque
d) Keep Your Cash
e) None of these
12. MICR (Magnetic Ink Character Recognition) code consist of
a) 11 character
b) 9 character
c) 14 character
d) 12 character
e) None of these
13. Name the four entities which are authorised by RBI to operate as WLAs ?
a) National Payment Corporation of India,VakrangeeLtd.,Tata Communications Payment
Solutions and Prizm Payment Services Pvt. Ltd.
b) VakrangeeLtd.,Tata Communications, Prizm Payment Solution,Reliance and
c) Tata Communications,Prizm Payment Services,Muthoot Finance and Vakrangee Ltd
d) Reliance, Tata Communications ,Muthoot Finance and Vakrangee ltd.
e) None of these
14. The Mutilated Notes are
a) Notes which are in pieces and/or of which the essential portions are missing
b) Any bank note, which is wholly or partially, obliterated, shrunk
c) Notes which are washed, altered or indecipherable
d) Notes which are wholly or partially, obliterated, shrunk, washed, altered or indecipherable
e) None of these
15. Reduction in general level of prices in an economy is known as:
a) Who rejects the payment of cheques
b) Who encash the cheques
c) Always the Banker
d) Who receives the cheques
e) None of these
8. Biggest tax paying sector in India is:
a) Agricultural Sector
b) Banking Sector
c) Industrial Sector
d) Communication Sector
e) None of these
9. Which of the following is correct about ATM:
a) ATM is a computer which is dedicated to perform certain specific Jobs only
b) ATM is a user friendly machine and the customer does not require any training to use it
c) ATM is totally menu driven which displays instructions to the customers step by step for
operating the same
d) All of the above
e) None of these
10. "Hum Hai Na" is slogan of which of the following banks:
a) ICICI Bank
b) Punjab National Bank
c) Vijaya Bank
d) Allahbad Bank
e) None of these
11. KYC is:
a) Know Your Customer ID
b) Know Your Customer
c) Know Your Cheque
d) Keep Your Cash
e) None of these
12. MICR (Magnetic Ink Character Recognition) code consist of
a) 11 character
b) 9 character
c) 14 character
d) 12 character
e) None of these
13. Name the four entities which are authorised by RBI to operate as WLAs ?
a) National Payment Corporation of India,VakrangeeLtd.,Tata Communications Payment
Solutions and Prizm Payment Services Pvt. Ltd.
b) VakrangeeLtd.,Tata Communications, Prizm Payment Solution,Reliance and
c) Tata Communications,Prizm Payment Services,Muthoot Finance and Vakrangee Ltd
d) Reliance, Tata Communications ,Muthoot Finance and Vakrangee ltd.
e) None of these
14. The Mutilated Notes are
a) Notes which are in pieces and/or of which the essential portions are missing
b) Any bank note, which is wholly or partially, obliterated, shrunk
c) Notes which are washed, altered or indecipherable
d) Notes which are wholly or partially, obliterated, shrunk, washed, altered or indecipherable
e) None of these
15. Reduction in general level of prices in an economy is known as:
a) Inflation
b) Shortage of Goods
c) Deflation
d) Supply Shortage
e) None of These
16. Those amounts due to vendors or suppliers that must be paid within one year is known as:
a) Loan Advances
b) Accounts Payable
c) Creditors
d) Debtors
e) None of These
17. Which of the following banks first time introduce the merchant banking in India is:
a) Imperial Bank of India
b) Grindlays Bank
c) United Bank
d) London Bank
e) None of These
18. What does Public Sector Banks refers to:
a) More people visit these banks
b) RBI or Government of India or both have at least 51% shares in the Bank
c) Bank run by the government having the directors elected by the public
d) All of the Above
e) None of These
19. "Rupiya" in our country was introduced by:
a) Akbar
b) Prithvi Raj Chouhan
c) Chandra GuptMoryaa
d) Sher Shah Suri
e) None of These
20. Who is the first Indian businessman who found place in the cover story of Forbes magazine
a) Aniil Ambani
b) Dr. Reddy
c) Azim Hasham Premji
d) Narayana Murthy
e) Anurag Mathur
b) Shortage of Goods
c) Deflation
d) Supply Shortage
e) None of These
16. Those amounts due to vendors or suppliers that must be paid within one year is known as:
a) Loan Advances
b) Accounts Payable
c) Creditors
d) Debtors
e) None of These
17. Which of the following banks first time introduce the merchant banking in India is:
a) Imperial Bank of India
b) Grindlays Bank
c) United Bank
d) London Bank
e) None of These
18. What does Public Sector Banks refers to:
a) More people visit these banks
b) RBI or Government of India or both have at least 51% shares in the Bank
c) Bank run by the government having the directors elected by the public
d) All of the Above
e) None of These
19. "Rupiya" in our country was introduced by:
a) Akbar
b) Prithvi Raj Chouhan
c) Chandra GuptMoryaa
d) Sher Shah Suri
e) None of These
20. Who is the first Indian businessman who found place in the cover story of Forbes magazine
a) Aniil Ambani
b) Dr. Reddy
c) Azim Hasham Premji
d) Narayana Murthy
e) Anurag Mathur
Answers With Explanation
1. Ans: B. November, 1994
The Board of Financial Supervision (BFS) was constituted in November 1994 as a committee of the Central Board of Directors. Its objective is to undertake consolidated supervision of the financial sector comprising commercial banks, financial institutions and non-banking finance companies.2. Ans: B. Puducherry
Puducherry Chief Minister V. Narayanasamy on Thursday presented a tax-free budget of Rs. 6,945 crore for 2017-18.
3. Ans: D. 70 years
RBI said in the light of the provisions of the Companies Act, 2013, the upper age limit for Managing Director & Chief Executive Officer (MD & CEO) and other Whole Time Directors (WTDs) of banks in the private sector should be 70 years.4. Ans: B. Lack of Access to Financial Services
Financial exclusion is a reality for many European citizens. Two in ten adults in the EU15 and almost half in the EU10 (47%) do not have a bank account, and many more have no savings or access to credit. Financial exclusion significantly increases the risk of social exclusion and poverty.5. Ans: B. Electronic Benefit Transfer
Electronic benefit transfer (EBT) is an electronic system that allows state welfare departments to issue benefits via a magnetically encoded payment card, used in the United States. The average monthly EBT payout is $125 per participant.6. Ans: B. ICICI Bank
Bank of Rajasthan (BoR) is set to merge with ICICI Bank, the country's largest private sector lender. Under the deal, ICICI Bank would give 25 shares for 118 shares (1:4.72) of BoR. The proposal was approved in principle by the boards of the two banks.7. Ans: C. Always the Banker
Drawee is a legal and banking term used to describe the party that has been directed by the depositor to pay a certain sum of money to the person presenting the check or draft. A typical example is if you are cashing a paycheck. The bank that cashes your check is the drawee, your employer who wrote the check is the drawer, and you are the payee.8. Ans: C. Industrial Sector
9. Ans: D. All of the above
An automated teller machine, also known in the United States of America as an automatic teller machine10. Ans: A. ICICI Bank
11. Ans: B. Know Your Customer
Know your customer (KYC) is the process of a business identifying and verifying the identity of its clients. The term is also used to refer to the bank and anti-money laundering regulations which govern these activities.12. Ans: B. 9 character
The MICR is a device that can recognise human readable characters printed on documents such as cheques using a special magnetic ink. The reader reads these characters by examining their shapes. Characters are printed in a special font. Each character is formed by a 7 x 10 matrix. The MICR has a magnetic head which can detect the magnetic pattern for each character.13. Ans: C. Tata Communications,Prizm Payment Services,Muthoot Finance and Vakrangee Ltd
Automated Teller Machines (ATMs) set up, owned and operated by non-bank entities are called "White Label ATMs" (WLAs). They provide the banking services to the customers of banks in India, based on the cards (debit/credit/prepaid) issued by banks.Non-bank entities that set up, own and operate ATMs are called "White Label ATM Operators" (WLAO). The WLAO's role is confined to acquisition of transactions of all banks' customers by establishing technical connectivity with the existing authorized, shared ATM Network Operators / Card Payment Network Operators.
14. Ans: A. Notes which are in pieces and/or of which the essential portions are missing
Mutilated banknote is a banknote, of which a portion is missing or which is composed of more than two pieces.15. Ans: C. Deflation
In economics, deflation is a decrease in the general price level of goods and services. Deflation occurs when the inflation rate falls below 0% (a negative inflation rate). Inflation reduces the real value of money over time, but deflation increases it. This allows one to buy more goods and services than before with the same amount of money. Deflation is distinct from disinflation, a slow-down in the inflation rate, i.e. when inflation declines to a lower rate but is still positive.16. Ans: B. Accounts Payable
17. Ans: B. Grindlays Bank
A merchant bank is historically a bank dealing in commercial loans and investment. In modern British usage it is the same as an investment bank. Merchant banks were the first modern banks and evolved from mediaeval merchants who traded in commodities, particularly cloth merchants. Historically, merchant banks' purpose was to facilitate and/or finance production and trade of commodities, hence the name "merchant". Few banks today restrict their activities to such a narrow scope.18. Ans: B. RBI or Government of India or both have at least 51% shares in the Bank
Public Sector Banks (PSBs) are banks where a majority stake (i.e. more than 50%) is held by a government.The shares of these banks are listed on stock exchanges. There are a total of 21 PSBs in India.19. Ans: D. Sher Shah Suri
The rupee is the common name for the currencies of India, Pakistan, Indonesia, Maldives, Mauritius, Nepal, Seychelles, Sri Lanka, and formerly those of Afghanistan, Tibet, Burma and British East Africa, German East Africa and Trucial States.20. Ans: C. Azim Hasham Premji
Azim Hasham Premji is the chairman of Wipro Limited. He is informally known as the Czar of the Indian IT Industry.He was responsible for guiding Wipro through four decades of diversification and growth to finally emerge as one of the global leaders in the software industry.
In 2010, he was voted among the 20 most powerful men in the world by Asiaweek. He has twice been listed among the 100 most influential people by TIME Magazine, once in 2004 and more recently in 2011.Premji owns 73% percent of Wipro and also owns a private equity fund, PremjiInvest, which manages his $2 billion worth of personal portfolio.
