Banking Awareness Quiz

1. Which of the following has been renamed as “Annual Policy Statement” by the Reserve Bank of India?

a) Busy season banking policy

b) slack season banking policy

c) monetary and credit policy

d) annual statistical report;

e) none of the above

2. Which is the monitoring and reviewing authority regarding fair practices code as per recent annual policy statement of Reserve Bank of India?

a) Banking codes and standards Board of India

b) Banking Ombudsman

c) Institute for development in banking technology

d) debt recovery tribunal

e) none of the above

3. Which committee has recommended introduction of smart card?

a) Rangarajan committee

b) Saraf committee

c) Nayak committee

d) Pannirselvan committee

e) None of the above

4. Providing banking services to a customer without his entrance in the bank’s branch is called as:

a) Virtual banking

b) relationship banking

c) universal banking

d) mobile banking

e) none of the above

5. Where is the headquarters of “Society for worldwide Interbank Financial Telecommunication – SWIFT”?

a) New York

b) Los Angels

c) Brussels

d) Hague

e) None of the above

6. What do you mean by universal banking?

a) Provision of all financial services in one country

b) provision of all financial services in one bank

c) provision of all financial services at a branch

d) provision of all financial services at any of the counters of a branch of a bank

e) none of the above

7. Basel II accord is mostly concerned with:

a) Central vigilance commission

b) non performing assets

c) capital adequacy ratio

d) foreign direct investment

e) none of the above

8. Which bank has changed its name to AXIS bank limited?

a) Centurion bank

b) Times bank

c) Bank of Punjab Limited

d) Bank of Karad

e) UTI bank limited

9. Cheque truncation means:

a) Tearing a cheque into two or more pieces

b) sending the photostat copy of a cheque in collection

c) using the electronic image of a cheque

d) keeping the Photostat copy of a cheque with collecting bank before sending the original cheque to the drawee branch

e) none of the above

10. What do you mean by risk?

a) Loss

b) depreciation of capital

c) decrease in profitability

d) possible loss that depends upon occurrence and non occurrence of an incident

e) none of the above

Answers:

1. c

2. a

3. b

4. a

5. b

6. b

7. c

8. e

9. c

10. d