BANKING QUIZ

1. Under RBI NEFT system, what is the maximum limit of individual transaction presently?
a) Rs. 2 lac
b) Rs. 20 lac
c) Rs. 200 lac
d) Rs. 2000 lac
e) No ceiling

2. The transaction limit under mobile banking is Rs. _____ per customer for transactions involving purchase of goods and services and transfer of FUNDS .
a) 50000
b) 25000
c) 10000
d) bank discretion

3. The committee that is associated with EFT system of RBI
a) Rangarajan Committee
b) Saraf Committee
c) Shere Committee
d) Narasimham Committee
e) All of the above

4. The first committee (year 1985) that gave its recommendations relating to mechanization of banking system
a) Rangarajan Committee
b) Saraf Committee
c) Shere Committee
d) Narasimham Committee
e) All of the above

5. The committee that gave its recommendation for drawing a perspective plan of computerization for the period 1990-94
a) Shere Committee
b) Narasimham Committee
c) Rangarajan Committee
d) Saraf Committee
e) All of the above

6. The committee that recommended the introduction of electronic clearing services
a) Rangarajan Committee
b) Saraf Committee
c) Shere Committee
d) Kapoor Committee
e) None of the above

7. The committee that suggested the cheque truncation system for interbank transactions
a) Rangarajan Committee
b) Shere Committee
c) Vasudevan Committee
d) Saraf Committee
e) None of the above

8. 1998 Committee on Technology upgradation in Banking Sector is known as
a) Narasimham Committee
b) Vasudevan Committee
c) Shere Committee
d) Saraf Committee
e) Kapoor Committee

9. The software that is used for a centralised environment in banking operations is called
a) central branch solutions
b) core banking situations
c) centralized banking solutions
d) centralized business solutions
e) (a) and (c)

10. Which of the following kinds of environment is provided through Centralized Banking Solution software?
a) any time banking
b) any where banking
c) bank customer instead of branch customer
d) (a) and (b)
e) All (a), (b) and (c)

11. What is the maximum deposit amount insured by DICGC?
a) Rs 200000 per deposit per bank
b) Rs 200000 per depositors across all banks.
c) Rs 100000 per depositors per bank
d) Rs 100000 per depositors across all banks
e) None of the above

12. With reference to a cheque which of the following is the `drawee bank`?
a) The bank that collects the cheque
b) the payee`s bank
c) the endorsee`s bank
d) the endorser`s bank
e) The bank upon which the cheque is drawn

13. In which of the following fund transfer mechanisms, can funds be moved from one bank to another and where the transaction is settled instantly without being bunched with any other transaction?
a) RTGS
b) NEFT
c) TT
d) EFT
e) MT

14. Banking ombudsman scheme is applicable to the business of
a) All scheduled commercial banks excluding RRBs
b) All scheduled commercial banks including RRBs
c) Only public sector banks
d) All banking to masses
e) Encouragement of a new class of entrepreneurs

15. What is a `Debit card`?
a) It is a card issued by a rating agency
b) It is a card which can be used for withdrawing cash or making payment even in the absence of any balance in the account
c) It is a card which can be used for withdrawing cash or making payment if there is balance in the account
d) It is card which carries prepaid balance
e) It is a card which can be used for making STD calls

16. according to the reserve bank`s instructions on banking matters. The banks can accept interest free deposits in which of the following accounts?
a) Only savings account
b) Only current accounts
c) Savings and current accounts
d) Savings, current and RD accounts
e) None of the above

17. Which of the following is not helpful in controlling money supply?
a) Free market policy
b) CRR
c) Bank rate
d) Change in margin requirement
e) None of these

18. In which of the following situations the `investment` will increase?
a) increase in output and decrease in capital stock
b) decrease in output and increase in capital stock
c) Increase in output and increase in capital stock
d) Decrease in output and decrease in capital stock
e) None of the above

19. GDR means
a) Gross Domestic Ratio which is a macro aggregate
b) Global Depository Receipt which is the mechanism to raise funds from international market
c) Global development range which has been set up by UNO for developing countries
d) Geographically Developed Regions as defined by the UNDP
e) None of the above

20. which of the following is a fundamental commercial bank accounting identify?
a) Assets plus capital equals liabilities
b) Assets plus liabilities equals capital
c) Assets minus liabilities equals capital
d) Either 1 or 2