a) Vaidyanathan Committee
b) Tarapurwala Committee
c) Goiporia Committee
d) Swaminathan Committee
e) Kelkar Committee
2. The Banking Companies (Nomination) Rules are framed in which year ?
a) 1991
b) 1985
c) 1979
d) 1969
e) 1980
3. In terms of which Section of the Negotiable Instruments Act, 1881, the expression "public holiday" includes Sunday and any other day declared by the Central Government by notification in the Official Gazette to be a public holiday?
a) Section 5
b) Section 25
c) Section 40
d) Section 21
e) None of these
4. Government has announced the target of Rs 25 trillion (US$ 376.53 billion) investment in infrastructure over a period of how many years?
a) three years
b) 2 years
c) five years
d) four years
e) None
5. India jumped 19 places in World Bank's Logistics Performance Index (LPI) 2016, to rank _____ amongst 160 countries.
a) 29th
b) 35th
c) 40th
d) 45th
e) None
6. Infrastructure like ports, roads and airports together form one of the _____ parameters for the index.
a) two
b) six
c) three
d) four
e) None
7. Financial securities include which of the following?
a) equities
b) bonds
c) mutual funds
d) PMS structured products
e) All the above
8. With a SIP, we can invest fixed amounts at regular pre-determined intervals (monthly or quarterly) in which scheme?
a) a mutual fund scheme
b) insurance
c) bond scheme
d) dividend scheme
e) None of these
9. Although mutual funds are professionally managed and most fund houses have robust risk management policies, investing in mutual funds is risky in terms of which of the following?
a) interest gaining
b) possibility of a financial loss
c) profit gaining
d) dividend getting
e) None of these
10. Equity oriented mutual funds predominantly invest in _______ which are inherently volatile in the short term and hence returns from such schemes could be volatile.
a) bonds
b) equity stocks
c) guilt edged bonds
d) debentures
e) None of these
11. The RBI notified the Banking Ombudsman Scheme in which year, under Section 35 of the Banking Regulation Act 1949?
a) 1985
b) 1986
c) 1995
d) 1975
e) None
12. In the abbreviation SWIFT, the letter S stands for what ?
a) Small
b) Society (SWIFT:Society for Worldwide Interbank Financial Telecommunication)
c) Sure
d) Severe
e) Size
13. A firm can avail fund based working capital credit facilities in the form of Secured Overdraft (SOD). It can avail non-fund based facilities in which form with bank 'A'?
a) Commercial Paper
b) Bank Guarantee (BG)
c) Promissory note
d) DD
e) None of these
14. What is the objective of Banking Ombudsman Scheme (BoS)?
a) The objective of the BOS is to facilitate amicable settlement of dispute by conciliation and mediation so that the relationship between the customer and the banker is maintained. The Scheme follows a non-disruptive mode of resolution of complaints to the extent possible.
b) To extract money
c) to punish the criminals
d) to harm the business
e) None of these
15. The Scheme has undergone several revisions during the years. Presently which Banking Ombudsman Scheme (BOS), is in operation?
a) 2006, (BOS) as amended up to February 3, 2009
b) 2002
c) 2001
d) 2000
e) None of these
16. Foreign Account Tax Compliance Act (FATCA) enacted by which country ?
a) Russia
b) USA. (In 2010, USA enacted a law known as "Foreign Account Tax Compliance Act" (FATCA) with the objective of tackling tax evasion through obtaining information in respect of offshore financial accounts maintained by USA residents and citizens)
c) Switzerland
d) France
e) Sweden
17. All authorised entities/banks issuing PPIs in India are advised to carry out a special audit by whom?
a) empanelled auditors of Indian Computer Emergency Response Team (CERT-In) on a priority basis and take immediate steps thereafter to comply with the findings of the audit report.
b) company secretaries
c) chartered accountants
d) cost accountants
e) None of these
18. As per the revised Kisan Credit Card (KCC) Scheme, the short term credit limit is fixed for the first year taking into account which of the following?
a) the scale of finance for the crop (as decided by District Level Technical Committee) x Extent of area cultivated
b) plus 10% of limit towards post-harvest/ household/consumption requirements
c) plus 20% of limit towards repairs and maintenance expenses of farm assets
d) plus crop insurance, Personal Accident Insurance Scheme (PAIS) and asset insurance
e) All the above
19. Under Pradhan Mantri Jan Dhan Yojana (PMJDY), 25.68 crore accounts have been opened across the country till 23.11.2016 and out of which how many accounts have been seeded with Aadhaar?
a) 12 crores
b) 13.85 crore
c) 10 crores
d) 2 crores
e) 4 crores
20. Under which scheme, Business Correspondent (BC) was visiting only on fixed days ? Under PMJDY, Fixed Point Bank Mitra (Business Correspondent) in each Sub Service Area comprising of 1000-1500 household (3 to 4 villages on an average) are available on every day of the week. They also visit other villages in the SSA on fixed days.
a) KCC
b) Swabhimaan
c) GCC
d) HSG
e) None of these
21. What is 'Money Laundering'?
a) Money Laundering is the process by which criminals attempt to hide and disguise the true origin and ownership of the proceeds of their criminal activities, thereby avoiding prosecution, conviction and
confiscation of the criminal funds. The term 'Money Laundering' is also used when the funds are used for terrorist financing, though the origin of the funds may be legitimate
b) money donating
c) money making
d) money lending
e) None of these
22. Why KYC/AML Policy is recommended for Banks?
a) To prevent criminal elements from using the Banking system for money laundering activities
b) To enable the Bank to know/understand the customers and their financial dealings better, which in turn would help the Bank to manage risks prudently.
c) To put in place appropriate controls for detection and reporting of suspicious activities
in accordance with applicable laws/laid down procedures.
d) To comply with applicable laws and regulatory guidelines and to take necessary steps
to ensure that the concerned staff is adequately trained in KYC/AML procedures.
e) All the above
23. What are suspicious transactions in a bank?
a) A transaction whether or not made in cash which, to a person acting in good faith gives rise to a reasonable ground of suspicion that it may involve the proceeds of crime;
b) A transaction appears to be made in circumstances of unusual or unjustified complexity;
c) A transaction appears to have no economic rationale or bonafide purpose;
d) A transaction gives rise to a reasonable ground of suspicion that it may involve financing of activities relating to terrorism
e) All the above
24. What is Electronic Clearing Services (ECS)?
a) It is a mode of electronic funds transfer from one bank account to another bank account using the services of a Clearing House.
b) This is normally for bulk transfers from one account to many accounts or vice-versa
c) This can be used both for making payments like distribution of dividend, interest, salary, pension etc. by institutions or for collection of amounts for purposes such as payments to utility companies like telephone, electricity, or charges such as house tax, water tax, etc. or for loan installments
of financial institutions/banks or regular investments of persons
d) All the above
e) None of these
25. What is MPIN?
a) MPIN is a 4 digit password that allows you to log on to SIB M-Passbook app. An MPIN keeps your application secure and prevents unauthorized access to your SIB MPassbook
b) Money PIN
c) More PIN
d) Most PIN
e) None of these
26. Cardholder is liable entirely for which of the following?
a) for maintaining the confidentiality of the registration information viz. image, phrase, PIN and other verification information used on the RuPay PaySecure solution
b) money deposited
c) money drawn
d) money borrowed
e) None of these
27. What is Pay Secure?
a) PaySecure is a payment service that allows you to use Bank RuPay Debit card for online purchases. It uses a simplified yet secure architecture offering additional security. It allows you to use your ATM PIN to make online payment with additional validation by selecting an image and phrase.
b) Salary security
c) cheque security
d) DD security
e) None of these
28. What if password is forgotten what is to be done?
a) you may reset your password (create a new password)
b) If you are credit card holder, enter your credit card number, date of birth, name on the card and card expiry.
c) If you are debit card holder, enter your debit card number, ATM PIN and card expiry
d) Following any one of the above
e) None of these
29. According to Section 24 (2-A) of the Banking Regulation Act, 1949, all Scheduled Commercial Banks in India are required to maintain SLR in which of the following?
a) in cash,
b) in gold valued at a price not exceeding the current market price
c) unencumbered approved securities valued at a price as specified by the RBI from time to time
d) All the above
e) None of these
30. LCR's emphasis on which of the following?
a) pre-empting net cash outflows on an ongoing basis
b) gold
c) maintaining a static stock of assets out of a stock of liabilities
d) silver
e) platinum
31. How much value currency notes in Circulation during 2015-16 in India (Value: Rs.in Billion)?
a) 16,512.44
b) 10,000
c) 12,000
d) 11,642.37
e) None of these
a) ATMs
b) Cash Deposit Machines, Cash Recyclers,.
c) Coin Vending Machines, any other cash dispensing/receiving machine,
d) CIT Companies and Business Correspondents attached to the branch & White Label ATMs
e) All the above
33. The committee formed by Finance Ministry to boost Digital Payment system in India submitted its report recently. The Committee was headed by
a) Ratan P Watal
b) Arvind Subramanian
c) Arvind Mayaram
d) Rajiv Mehrishi
e) Hasmukh Adhia
34. A nationwide toll-free helpline number '14444' will be launched shortly to educate people and provide support related to _______
a) startups
b) women's education
c) child abuse
d) cashless mode of transactions
e) cleanliness drive
35. Who will extend a support aggregating about Rs 120 cr to banks for deployment of two Point-of-Sale (PoS) devices per village in one lakh villages having a population of up to 10,000 ?
a) NABARD
b) SIDBI
c) NHB
d) IBA
e) SBI
