Banking Quiz for IBPS | SBI – 292

                      Banking Quiz for IBPS | SBI – 292

 

1.Bill of Exchange, Promissory Notes and Cheques are defined as
a) Trust Receipts
b) Documents of Title to goods
c) Negotiable Instruments
d) None of these

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Answer c) Negotiable Instruments
Bill of exchange is a negotiable instrument that is issued when an order needs to be given to the debtor to pay the due amount to the creditor within a stipulated period of time.

2.In which bond an Indian rupee denominated bond issued outside India ?
a) Uridashi bond
b) Samurai bond
c) Masala bond
d) None of these

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Answer c) Masala bond
Masala bonds are bonds issued outside India but denominated in Indian Rupees, rather than the local currency. Masala is an Indian word and it means spices. The term was used by the International Finance Corporation (IFC) to evoke the culture and cuisine of India.

3.(FCNR )Foreign Currency Non Resident Account (banks) accounts are maintained in the form of
a) Bank accounts
b) Currents accounts
c) Term deposits (except recurring deposits)
d) All of the above

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Answer d) All of the above
An FCNR account is a term deposit account that can be maintained by NRIs and PIOs in foreign currency. Thus, FCNRs are not savings accounts but fixed deposit accounts.

4. On the basis of which commission was RBI established?
a) Hilton Young Commission
b) British Commission
c) Federation Commission
d) None of these

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Answer a) Hilton Young Commission
The Reserve Bank of India was set up on the basis of the recommendations of the Hilton Young Commission. The Reserve Bank of India Act, 1934 (II of 1934) provides the statutory basis of the functioning of the Bank, which commenced operations on April 1, 1935.

5. Who covered the Export Credit Packing Advance sanctioned to SSI exporters under the credit guarantee scheme?
a) ECGC
b) DRI
c) GIC
d) None of these

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Answer a) ECGC
Export Finance Guarantee covers post-shipment advances granted by banks to exporters against export incentives receivable in the form of duty drawback, etc. rupee or in foreign currency. The credit is granted under the Rediscounting of Export Bills Abroad Scheme (EBR) at LIBOR linked interest rates.

6. What is the ―USP in a Savings Bank account of a Bank over another Bank?
a) Low risk transaction
b) Banking channels and branches
c) Higher rate of interest
d) None of these

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Answer c) Higher rate of interest

7.Bureau of Indian Standards (BIS) has its headquarters in-
a) New Delhi
b) Kolkata
c) Bhubaneswar
d) None of these

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Answer a) New Delhi
The Bureau of Indian Standards (BIS) is the national Standards Body of India working under the aegis of Ministry of Consumer Affairs, Food & Public Distribution, Government of India. It is established by the Bureau of Indian Standards Act, 1986 which came into effect on 23 December 1986.

8. If the Statuary Liquidity Ratio (SLR) is increased, what will be the effect on Bank‘s credit situation?
a) It will remain unaffected
b) It will be increased
c) It will be reduced
d) None of these

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Answer c) It will be reduced

9.Bank holidays under Section 25 of the Negotiable Instruments Act, 1881 are declared by-
a) Banking Operations Department
b) RBI
c) Central Government
d) None of these

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Answer b) RBI

10. Which of the following maintains TIN?
a) RBI
b) National Securities Depository Ltd.
c) National Securities Defense Ltd.
d) None of these

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Answer b) National Securities Depository Ltd.

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