Banking Quiz

1. Finance Ministry advised RBI to allow common ATMs to be owned and managed by Non Banking Institutions. Such ATMs are called ________________
a) Third Party ATMs
b) White Label ATMs
c) NBFC ATMs
d) Off Site ATMs

2. If a Depositor is not a Senior Citizen and his Taxable Income is within the exempted limits then he has to submit ———————— to the Bank for not deducting tax at source
a) Form 10H
b) Form 17
c) Form 15G
d) Form 60

3. An ECS transaction gets bounced and you are unable to recover your money from your customer. Under which Act criminal action can be initiated?
a) Criminal Procedure Code
b) Payment and Settlement Act
c) Negotiable Instrument Act
d) Indian Penal Code

4. Indian commercial banks are categorised into _________________
a) Private Sector Banks
b) Foreign Banks
c) Public Sector banks
d) All of the above

5. Before approaching Ombudsman what should the complainant do?
a) Approach Lok Adalat
b) Can directly approach Banking Ombudsman
c) Take up the matter with concerned Bank Branch within 30 days of cause of action
d) Any of the above

6. Reverse Mortgage scheme is designed keeping which of the following groups of society in consideration?
a) Youngsters who just started earning
b) Dependent women
c) Defense personnel
d) Senior citizens

7. One rupee note and all coins will be issued by ________________
a) Central Government
b) State Bank of India
c) Reserve Bank of India
d) None of these

8. Increasing Cash Reserve Ratio from time to time by Reserve Bank of India leads to ______________
a) Increase in lendable resources
b) Decrease in lendable resources
c) Increasing in deposit
d) Decrease in deposit

9. With reference to a cheque which of the following is the ‘drawee bank’?
a) The endorsee’s bank
b) The bank that collects cheque
c) The bank of the Drawer of the Cheque
d) The payee’s bank

10. Expand CTS?
a) Cash Transfer System
b) Cheque Truncation System
c) Cheque Transfer System
d) Cash Transaction system (in banks)