Banking Quiz for IBPS | SBI – 290

Banking Quiz for IBPS | SBI – 290

1. FINO stands for__________.
a) Financial Inclusion Network and Operations
b) First In Never Out
c) Financial Inclusion Network and Operations
d) None of these

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Answer a) Financial Inclusion Network and Operations

2. Normally Banks accepts Fixed Deposits for a maximum period of________.
a) 5 years
b) 10 years
c) 20 years
d) None of these

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Answer b) 10 years
Banks have defined a minimum and maximum period for which FD account can be opened with them. Usually, one can invest in an FD for a minimum 7 days and maximum of 10 years. You can choose the tenure within this range according to your needs.

3.________________is the rate at which commercial bank needs to maintain in the form of cash, or gold or government approved securities (Bonds) before providing credit to its customers.
a) Repo Rate
b) CRR Rate
c) SLR Rate
d) None of these

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Answer c) SLR Rate

4.As per the Banking Ombudsman Scheme, any person can file a complaint before the Banking
Ombudsman, if the satisfied reply is not received from the bank within a period of _________.
a) 1 months
b) 15 days
c) 2 months
d) None of these

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Answer a) 1 months
Approach the banking ombudsman. If your bank does not address your complaint within a month, you can approach the banking ombudsman.

5.A savings as well as current account should be treated as inoperative / inactive if there are no transactions in the account for over a period of _____ years.
a) 5
b) 3
c) 2
d) None of these

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Answer c) 2
RBI Ends Penalty For Dormant Accounts. The Reserve Bank of India has asked banks not to charge any penalty for non-maintenance of minimum balance in dormant accounts. … Savings accounts and current accounts are treated as dormant if there are no transactions for over two years.

6.What is the Stagflation?
a) deflation with growth
b) inflation after deflations
c) inflation with growth
d) None of these

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Answer b) inflation after deflations
stagflation is a situation in which the inflation rate is high, the economic growth rate slows, and unemployment remains steadily high. It presents a dilemma for economic policy, since actions intended to lower inflation may exacerbate unemployment, and vice versa.

7.Which of the following can issue commercial paper for raising short term funds?
a) Corporate
b) Primary Dealers
c) All-India Financial Institutions
d) All of the above

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Answer d) All of the above
A Commercial Paper is a money-market security issued (sold) by large corporations to obtain funds to meet short-term debt obligations (for example payroll), and is backed only by an issuing bank or company promise to pay the face amount on the maturity date specified on the note.

8.In India Mutual Funds are regulated by ________.
a) Securities and Exchange Board of India
b) Reserve Bank of India
c) Small Industrial Development Bank of India
d) None of these

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Answer a) Securities and Exchange Board of India
All Asset Management Companies (AMCs) are regulated by SEBI and/or the RBI (in case the AMC is promoted by a bank). In addition, every mutual fund has a board of directors that represents the unit holders interests in the mutual fund.

9.What is the full form of FCCB?
a) Financial Consortium and Credit Bureau
b) Future Credit and Currency Bureau
c) Foreign Currency convertible Bond
d) None of these

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Answer c) Foreign Currency convertible Bond
Foreign currency convertible bond (FCCB) is a type of convertible bond issued in a currency different than the issuer’s domestic currency. In other words, the money being raised by the issuing company is in the form of a foreign currency.

10.Which of the following is the most liquid money?
a) M1
b) M2
c) M3
d) None of these

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Answer a) M1
M1 is the money supply that includes physical currency and coin, demand deposits, travelers checks, other checkable deposits and negotiable order of withdrawal (NOW) accounts. The most liquid portions of the money supply are measured by M1 because it contains currency and assets that can be quickly converted to cash.

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