1. When was Reserve Bank of India established?
a) 1920
b) 1925
c) 1935
d) 1948

2. Imperial Banks were amalgamated and changed as _________?
a) Reserve Bank of India
b) State Bank of India
c) Subsidiary Banks
d) Union Bank of India

3. Who is the Governor of RBI?
a) Bimal Jalan
b) Y V Reddy
c) Raghuram Rajan
d) Ranga Reddy

4. A Bank is under a statutory obligations to honour its customer’s cheques vide School of Distance Education?
a) Section 10 of the Banking Regulation Act, 1949.
b) Section 3 of the R.B.I. Act, 1934.
c) Section 31 of the Negotiable Instruments Act, 1881.
d) None of these

5. When a drawer draws a cheque without keeping sufficient balance and if the cheque is bounced for insufficient funds. The drawer is punishable with imprisonment which may extend to and or a fine?
a) Two Months
b) One Year
c) Four Months
d) Six Months

6. “Customer” is defined in?
a) Banking Regulation Act
b) N.I. Act
c) R.B.I. Act
d) Nowhere it is defined

7. _______is a document issued by the bank acknowledge the receipt of a fixed sum of money on deposit?
a) Collection receipt
b) Withdrawal receipt
c) Fixed deposit receipt
d) Investment receipt

8. Pay order is issued by the banks for?
a) Local payments
b) Inter-state payments
c) Foreign payments
d) Scheduled Commercial Banks

9. A minor can open and operate an account in his own name if he has at-least attained the age of?
a) 12 years
b) 16 years
c) 15 years
d) 10 years

10.A minor cannot?
a) Accept a bill
b) Draw a bill
c) Endorse a cheque
d) Executor