Banking Quiz for IBPS | SBI – 298
1.FIMMDA‘s general principles and procedures are applicable to _________?
a) Fixed Income Markets
b) Money Markets
c) Derivatives Markets
d) All of the above
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Answer d) All of the above
2.Cash Reserve Ratio (CRR) is to be maintained on Net Demand and Time Liabilities (NDTL). SLR is thus required to be maintained on ________?
a) Total Demand and Time Liabilities
b) Net Demand and Time Liabilities
c) Total Demand and Time Assets
d) None of these
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Answer a) Total Demand and Time Liabilities
Statutory liquidity ratio (SLR) is the Indian government term for the reserve requirement that the commercial banks in India are required to maintain in the form of cash, gold reserves, RBI approved securities before providing credit to the customers. Statutory liquidity ratio is determined by Reserve Bank of India maintained by banks in order to control the expansion
The SLR is determined by a percentage of total demand and time liabilities.
3.The main foreign exchange reserves in the country are:-
a) Foreign Currency assets
b) Gold Stock
c) Special Drawing Rights
d) All of the above
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Answer d) All of the above
Foreign exchange reserves are assets held on reserve by a central bank in foreign currencies, which can include bonds, treasury bills and other government securities. Most foreign exchange reserves are held in U.S. dollars, with China being the largest foreign currency reserve holder in the world.
4.Which of the following type of budgeting being used in India?
a) Balanced Budget
b) Zero base Budget
c) Receipts Budget
d) All of the above
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Answer d) All of the above
The budget is the plan which intends to figure out expected operations revenue and expenses of an organization for a future time period. In other words for a business entity budgeting is the process of preparing detailed statement of financial results that are projected for a certain period of time.
5. The tax levied by Local Governments i.e. Municipal Corporations and municipalities is _______.
a) Wealth Tax
b) House Tax
c) Gift Tax
d) None of these
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Answer b) House Tax
6. For which of the following bank account there is no deduction of TDS?
a) Saving Bank accounts
b) Recurring Deposit accounts
c) Term deposit Accounts
d) Both A & B
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Answer d) Both A & B
7.What is the full from of AMFI?
a) Association of Manual Funds in India
b) Association of Mutual Funds in India
c) Action of Mutual Funds in India
d) None of these
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Answer b) Association of Mutual Funds in India
The Association of Mutual Funds in India (AMFI) is dedicated to developing the Indian Mutual Fund Industry on professional, healthy and ethical lines and to enhance and maintain standards in all areas with a view to protecting and promoting the interests of mutual funds and their unit holders.
8.IFSC in a cheque means:-
a) Indian Financial System Code
b) It has 11 digits alpha numeric
c) This code is used in remitting funds through RTGS
and NEFT
d) All the above
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Answer d) All the above
IFSC (Indian Financial System Code) is an 11-digit alphanumeric code that helps to identify different bank branches that deal with online fund transfers either via NEFT (National Electronic Funds Transfer), IMPS (Immediate Payment Service) or RTGS (Real Time Gross Settlement).
9.Safe deposit locker – a product offered in the Indian retail banking segment under: –
a) Retail loan products
b) Retail deposit products
c) Retail services
d) None of these
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Answer c) Retail services
Retail Banking is also termed as consumer banking. As the name suggests, it is a part of the commercial banking system associated with the general public and individual customers. Retail banking systems aim to provide banking services like checking accounts, opening accounts, savings accounts, loans, debit cards, and more to the citizens.
10.New and re-issuable currency notes are stored in _____________maintained by the banks as agents of Reserve Bank of India.
a) Currency chests
b) Treasuries
c) Branches
d) None of these
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Answer a) Currency chests
