Banking Quiz – 70

1. The network for common data communications for banks and FIs launched by RBI
a) BANKNET
b) INFINET
c) NICENET
d) SWIFT
e) INTERNET

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Answer a) BANKNET

2. Which of the following is the instrument of payment called Plastic Money?
a) identity card
b) plastic card
c) debit card
d) greeting card
e) banker’s cheque

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Answer c) debit card

3. Which of the following can be considered as part of the batch processing system?
a) RTGS
b) salary payment rolls
c) airlines reservations
d) railway reservations
e) all the above

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Answer b) salary payment rolls

4. The term EFT means
a) electronic foreign transfers
b) electronic financial transfers
c) electronic funds transfers
d) electrical funds transfers
e) Any of the above

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Answer c) electronic funds transfers

5. INFINET stands for
a) International Financial network
b) Indoor Financial network
c) Indian Financial network
d) Internet Financial network
e) None of these

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Answer a) International Financial network

6. What is the minimum value of stock of gold coins, bullion and foreign securities, which RBI has to maintain at any point of time?
a) Rs. 200 cr
b) Rs. 215 cr
c) Rs. 115 cr
d) Rs. 500 cr
e) Rs. 1000 cr

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Answer c) Rs. 115 cr

7. Who conducts integrated supervision over commercial banks, FIs and NBFCs and other para-banking financial institutions, in India
a) Security Exchange Board of India
b) Ministry of Finance, Govt. of India
c) FCMD of RBI
d) Dept. Of Banking Operations, RBI
e) None of these

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Answer c) FCMD of RBI

8. Banks disclose the information about their borrowers to RBI under Provisions of
a) Directives of RBI
b) Section 45-C, RBI Act
c) Section 45 of Banking Regulation Act
d) Directions of Finance Ministry
e) None of these

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Answer b) Section 45-C, RBI Act

9. What is the highest denomination bank note that RBI can issue as per provisions of RBI Act?
a) Rs. 1000
b) Rs. 2000
c) Rs. 5000
d) Rs. 10000
e) None of these

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Answer d) Rs. 10000

10. What is meant by Scheduled Bank?
a) The bank functioning under provisions of Banking Reg. Act 1949
b) A bank included in 2nd schedule of RBI Act
c) The bank incorporated under Banking Companies Act 1956
d) A bank authorised for banking functions
e) Bank issued a license by RBI mentioning therein that it is a scheduled bank

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Answer b) A bank included in 2nd schedule of RBI Act

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