Banking Quiz – 121

Banking Quiz

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

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Answer c) 1935

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

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Answer b) State Bank of India

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

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Answer c) Raghuram Rajan

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

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Answer c) Section 31 of the Negotiable Instruments Act, 1881.

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

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Answer b) One Year

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

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Answer 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

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Answer c) fixed deposit receipt

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

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Answer a) Local payments

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

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Answer a) 12 years

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

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Answer a) Accept a bill

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