Description : Reserve Bank of India has granted in principle approval to the common service Centres to act as which operating unit to make bill payments in rural? A) Bharat Bill Payment B) National Bill Payment C) Non Banking Financial D) Mobile Banking Payment E) None of these
Last Answer : A) Bharat Bill Payment Explanation: Reserve Bank of India has granted in-principle nod to the common service centres RBI (CSCs) as Bharat Bill Payment Operating Unit to make bill payments at centres in rural bands.
Description : In which of the following types of banking, there is a direct execution of transaction between a bank and its consumers? A. Retail Banking B. Universal Banking C. Virtual Banking D. Unit Banking E. other than those given as options
Last Answer : A. Retail Banking Explanation: Retail banking also known as Consumer Banking is the provision of services by a bank to individual consumers, rather than to companies, corporations or other ... include savings and transactional accounts, mortgages, personal loans, debit cards, and credit cards.
Description : Which of the following banks is ready to acquire Microfinance Grama Vidiyal? A) Bandhan Bank B) Yes Bank C) Axis Bank D) Kotak Mahindra Bank E) IDFC Bank
Last Answer : E) IDFC Bank Explanation: Private sector lender IDFC Bank announced the acquisition of Tamil Nadu-based Grama Vidiyal Microfinance that will help it widen the reach.
Description : Which bank recently tied up with Chillr for cashless transactions? A) Federal Bank B) DCB Bank C) IDFC Bank D) Karnataka Bank E) IndusInd Bank
Last Answer : A) Federal Bank Explanation: Federal Bank announced its partnership with with Chillr, a mobile banking application, to provide cashless transactions. Chillr, India s first and only multi-bank ... making money transfer between bank accounts easier, faster and safer than sending a text message.
Description : Who among the following launched IDFC Bank? A. Narendra Modi B. Rajnath Singh C. Santosh Gangwar D. Arun Jaitley E. None of the Above
Last Answer : A. Narendra Modi Explanation: Prime Minister Narendra Modi formally launched IDFC Bank on 19 October 2015.
Description : IDFC Bank is headquartered in _______ A. Mumbai B. Kolkata C. Chennai D. Bangalore E. None of the Above
Last Answer : A. Mumbai Explanation: IDFC Bank is headquartered in Mumbai.
Description : Which of the following is/are the loan product(s) of Bandhan Bank? A. Agri loan B. MSME loan C. Retail loan D. Both (A) and (C) E. All of the Above
Last Answer : E. All of the Above Explanation: Products of Bandhan Bank includes Agri loan, MSME loan, Retail loan and Micro loan.
Description : Is it true Americans do not use bank debit cards in retail and for online banking?
Last Answer : Ummm, I’m in the United States and only use a debit card. It has the Visa logo so it works anywhere that takes Visa but it pulls the money straight from my account.
Description : A collection of non-bank financial intermediaries that provide services similar to traditional commercial banks is known as _________ A. Off-shore Banking B. Investment Banking System C. Shadow Banking System D. Conventional Banking E. Merchant Banking System
Last Answer : C. Shadow Banking System Explanation: A shadow banking system refers to the financial intermediaries involved in facilitating the creation of credit across the global financial system but ... oversight. The shadow banking system also refers to unregulated activities by regulated institutions.
Description : The Aadhaar-Enabled Payment Systems(AEPS) is a bank led model that facilitates banking facilities by allowing transactions at Point of Sale through the Business Correspondent (BC) using the Aadhaar ... . Cash Withdrawal C. Online Payment D. Cash Deposit E. Aadhaar to Aadhaar funds transfer
Last Answer : C. Online Payment Explanation: Services Offered by AEPS: Balance Enquiry Cash Withdrawal Cash Deposit Aadhaar to Aadhaar Fund Transfer Gateway Authentication Services
Description : A non performing Asset in Banking Business means ________ A. A fixed asset of Bank is not been utilized B. A portion of deposits not been utilized C. A loan asset on which interest and/or instalments remain unchanged. D. All of the Above E. None of the Above
Last Answer : C. A loan asset on which interest and/or instalments remain unchanged. Explanation: A nonperforming asset (NPA) refers to a classification for loans on the books of financial institutions that are in ... is classified as nonperforming when loan payments have not been made for a period of 90 days.
Description : ________ have been awarded the license by the Central Bank to operate Bharat Bill Payment System (BBPS) recently. A. Common Service Centres (CSC) B. Financial Institutions C. Only (A) D. Both (A) and (B) E. None of the Above
Last Answer : A. Common Service Centres (CSC) Explanation: over 1.5 Lakh common service centres (CSC) or Digital Seva Kendres have been awarded the license by the Central Bank to operate Bharat Bill Payment System (BBPS).
Description : The rules framed in the Clayton‟s case have been incorporated in _________ A. Banking Regulation Act, 1949 B. Reserve Bank of India Act, 1934 C. Negotiable Instruments Act, 1881 D. Indian Contract Act, 1872 E. None of the Above
Last Answer : D. Indian Contract Act, 1872 Explanation: The rules framed in the Clayton‘s case was incorporated in Section 59 of the Indian Contract Act, 1872.
Description : In UPI, we can Send money to any bank account through mobile without entering ____________ A. debit/credit card details B. net banking/wallet password C. receiver‘s account number. D. All of the Above E. None of the Above.
Last Answer : D. All of the Above Explanation: Send money up to Rs 1 lakh to any bank account through the mobile without entering debit/credit card details, net banking/wallet password or even knowing the receiver‘s account number.
Description : Marketing is complex in Banks compared to other commercial concerns. Which among the following justifies this statement ? 1. Bank marketing is a service Marketing 2. The focus of the bank marketing ... . The Bank marketing is doubly oriented 4. Banking products are intangible 5. None of these
Last Answer : The Bank marketing is doubly oriented
Description : What is the difference between corporate and retail banking?
Last Answer : Retail banking directly deals with the individual end users , whereas corporate banking mainly deals with companies.
Description : Which allows banks and other financial institution to auction residential or commercial properties to recover loans? A. Industrial Disputes Act 1947 B. Foreign Exchange Management Act, 1999 C. Banking Regulation Act, 1949 D. SARFAESI Act, 2002 E. None of the Above
Last Answer : D. SARFAESI Act, 2002 Explanation: The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (also known as the SARFAESI Act) is an ... allows banks and other financial institution to auction residential or commercial properties to recover loans.
Description : Which of the following institutions do not hold a banking license? A. Small Banks B. Foreign Banks C. Commercial Banks D. NBFCs
Last Answer : D. NBFCs Explanation: Non-banking financial companies, or NBFCs, are financial institutions that provide banking services, but do not hold a banking license. These institutions are not allowed to take deposits from the public.
Description : Ken Adams tells the loan officer at Allied Irish Bank that Cork really needs a shop that offers high -quality fishing gear to sports enthusiasts and provides the service and advice that so ... such a retail operation. A)product assortment B)location analysis C)product mix depth D)retail positioning
Last Answer : D)retail positioning
Description : 10) First National Bank launches an innovative in-home banking system tied to personal computers. The product is not widely accepted because bank customers don't see the need ... B)Organisation structure C)Top management commitment D)Technological advance E)Scanning corporate capabilities
Last Answer : A)Establishment of a customer information system
Description : What is the purpose of KYC in banking? A. It is used for customer identification B. It is used for increasing the CRR of banks C. It is used against money laundering D. It is used by the central bank to control liquidity E. Both (A) and (C)
Last Answer : E. Both (A) and (C) Explanation: Know your customer (KYC) is the process of a business verifying the identity of its clients. Know your customer policies are becoming much more important globally to prevent identity theft, financial fraud, money laundering and terrorist financing.
Description : Which bank has launched USSD based mobile app for basic banking needs with NPCI A) United Bank of India B) Union Bank of India C) UCO Bank D) Indian Bank E) Indian Overseas Bank
Last Answer : B) Union Bank of India Explanation: National Payments Corporation of India (NPCI), the umbrella organisation for all retail payments system in the country has partnered with Union Bank of India to ... customers and can be used even without any internet connection as it does not require any data.
Description : Kotak Mahindra Bank has enabled which of the following banks online shopping portal on its mobile banking app to provide seamless shopping experience for its customers? A) Flipkart B) Snapdeal C) Amazon India D) Ebay India E) Mytra
Last Answer : A) Flipkart Explanation: Private sector lender Kotak Mahindra Bank has enabled online shopping portal Flipkart in its mobile banking application in order to ensure a seamless shopping experience for its ... mode. Through this integration the bank will try to solve that problem for our customers.
Description : The Overseas Principal should obtain necessary authorisation from the Reserve Bank of India under the provisions of which Act to commence/ operate a payment system? A. Reserve Bank of India Act-1934 B. Banking ... , 1949 D. Payment and Settlement Systems Act (PSS Act), 2007 E. None of the Above
Last Answer : D. Payment and Settlement Systems Act (PSS Act), 2007 Explanation: The Overseas Principal should obtain necessary authorisation from the Department of Payment and Settlement Systems, Reserve Bank of India ... Payment and Settlement Systems Act (PSS Act), 2007 to commence/ operate a payment system.
Description : Co-operative banks are regulated by the Reserve Bank of India under _________ A. Banking Regulation Act, 1949 B. Banking Laws (Application to Co-operative Societies) Act, 1965 C. Both (A) and (B) D. Negotiable Instrument Act–1881 E. None of the Above
Last Answer : C. Both (A) and (B) Explanation: Co-operative banks are regulated by the Reserve Bank of India under the Banking Regulation Act, 1949 and Banking Laws (Application to Co-operative Societies) Act, 1965
Description : A Shareholder has been defined by ________ A. Banking Regulation Act, 1949 B. Reserve Bank of India Act, 1934 C. Negotiable Instruments Act, 1881 D. Indian Contract Act, 1872 E. The companies act, 1956
Last Answer : E. The companies act, 1956 Explanation: The Companies Act, 1956 ―Small Shareholder‖ means a shareholder holding shares of nominal value of twenty thousand rupees or less in a public company to which section 252 of the Act applies.
Description : SMERA has been registered under _______ A. Securities and Exchange Board of India Act, 1992 B. Reserve Bank of India Act, 1934 C. Banking Regulation Act, 1949 D. Securities and Exchange Board of India (Credit Rating Agencies) Regulations, 1999 E. None of these
Last Answer : D. Securities and Exchange Board of India (Credit Rating Agencies) Regulations, 1999 Explanation: SMERA has been registered under Securities and Exchange Board of India (Credit Rating Agencies) Regulations, 1999.
Description : A Credit Bureau is governed by _________ A. Securities and Exchange Board of India Act, 1992 B. Reserve Bank of India Act, 1934 C. Banking Regulation Act, 1949 D. Securities and Exchange ... of India (Credit Rating Agencies) Regulations, 1999 E. Credit Information Companies (Regulation) Act of 2005
Last Answer : E. Credit Information Companies (Regulation) Act of 2005 Explanation: A Credit Bureau is governed by the Credit Information Companies (Regulation) Act of 2005.
Description : Which of the following is/are non-banking subsidiary of the State Bank of India? A. SBI Capital Markets Ltd. B. SBI General Insurance Company Limited. C. SBI Funds Management Pvt Ltd. D. All of the Above E. None of the Above
Last Answer : D. All of the Above Explanation: SBI has the following Non-Banking Subsidiaries in India: SBI Capital Markets Ltd. SBI Funds Management Pvt Ltd. SBI Global Factors Ltd. SBI Cards & Payments ... (SBICPSL) SBI DFHI Ltd. SBI General Insurance Company Limited. SBI Pension Funds Pvt Ltd (SBIPFPL)
Description : To become BBPOUs, Banks and non-bank entities are mandatorily required to apply for approval / authorisation to Reserve Bank of India under ________ A. Payment and Settlement Systems (PSS) Act 2007. B. Foreign ... Act, 1999 C. Banking Regulation Act, 1949 D. SARFAESI Act, 2002 E. None of the Above
Last Answer : A. Payment and Settlement Systems (PSS) Act 2007. Explanation: To become BBPOUs, Banks and non-bank entities are mandatorily required to apply for approval / authorisation to Reserve Bank of ... PSS) Act 2007. Bharat Bill Payment Operating Units (BBPOUs) will be the authorised operational units.
Description : The first Indian RRB that has achieved Core Banking Solution(CBS) is ________ A. Rushikulya Gramya Bank (RGB) B. Pallavan Bank C. Bangiya Gramin Vikash Bank D. Allahabad UP Gramin Bank E. None of the Above
Last Answer : A. Rushikulya Gramya Bank (RGB) Explanation: The Rushikulya Gramya Bank (RGB), a regional rural bank (RRB) operating in south Orissa, has become the first RRB in the state to have placed all its branches on the Core Banking Solutions (CBS) platform.
Description : Reserve Bank of India has made it mandatory on the banks to discontinue the practice of stapling the currency note packets under _______ of the Banking Regulation Act, 1949 A. Section 35A B. Section 25A C. Section 15A D. Section 30A E. None of the Above
Last Answer : A. Section 35A Explanation: The Reserve Bank of India has made it mandatory on the banks to discontinue the practice of stapling the currency note packets. It has issued a directive to banks under Section 35A of the Banking Regulation Act, 1949.
Description : Alfa Company Limited acquired the business of M/s Bharat Traders. The valuation of the items acquired was-building Rs. 1,20,000; machinery Rs. 80,000 and stock-in-trade Rs. 30,000. The company issued in lieu of the above items 800, ... ) Rs. 2,30,000 (B) Rs. 1,00,000 (C) Rs. 50,000 (D) Rs. 30,000
Last Answer : Answer: Rs. 30,000
Description : When Nike first opened its company -owned retail stores to sell its shoes and sportswear, this move exemplified which type of business -unit strategy? A)Concentric diversification B)Market development C)Product development D)Conglomerate diversification E)Forward integration
Last Answer : E)Forward integration
Description : When more than one bank is allowing credit facilities to one party in coordination with each other under a formal arrangement, the arrangement is generally known as___________ A. Consortium B. Syndication C. Multiple Banking D. Participation
Last Answer : A. Consortium Explanation: A banking syndicate formed by multiple banks, often from different countries, for the singular purpose of financing a specific project that is too large for any individual ... in the risk and the profits. Upon completion of the project the consortium bank is disbanded.
Description : C) Doha Bank Explanation: A Qatar-based Indian banker has been awarded for his contribution in environment friendly activities and for promoting green economy for nearly two decades. R Seetharaman, ... Visionary award at the 2016 Union of Arab Banks International Banking Summit held in Rome.
Last Answer : The Department of Posts launched a logo and tagline design contest for its soon-tobe set up India Post Payments Bank on which of the following website? A) GovPost B) IndianPost C) MyGov D) PayPost E) None of these
Description : Which of the following company has changed its name to Bharat Financial Inclusion Ltd.? A) SKS Microfinance Ltd B) Spandana Sphoorty Financial Ltd C) Bhartiya Samruddhi Finance Limited D) Cashpor Micro Credit E) None of these
Last Answer : A) SKS Microfinance Explanation: The company had said the decision to change the name was taken as its core had undergone a transformation, equipping it to play a major role in fulfilling the ... presence across 18 states covering 1,00,000 villages, catering to its 63.65 lakh women members.
Description : Which of the following will function as the Bharat Bill Payment Central Unit (BBPCU), single authorized entity operating the BBPS? A. RBI B. NPCI C. GOI D. All of the Above E. None of the Above
Last Answer : B. NPCI Explanation: National Payments Corporation of India (NPCI) will function as the authorized Bharat Bill Payment Central Unit (BBPCU), which will be responsible for setting business ... BBPCU, will also undertake clearing and settlement activities related to transactions routed through BBPS.
Description : The largest number of commercial bank‟s offices are located in ______ A. Kerala B. Karnataka C. Uttar Pradesh D. Tamil Nadu
Last Answer : C. Uttar Pradesh Explanation: Uttar Pradesh has the largest number of commercial bank‘s offices.
Description : How do they section grapefruit for commercial retail sale?
Last Answer : They do that in Canada. You can buy liquid segmented grapefruit in a jar. Unfortunately they don’t taste that good… it has a bite. The white part is healthy for you. It is high in fiber.
Description : Bull and bear are related to which commercial activity ? (1) Banking (2) E-commerce (3) International trade (4) Stock market
Last Answer : Stock market
Description : Arun and Bharat started a business with investments of Rs.10000 and Rs.15000 respectively. Arun being a working partner gets Rs.100 every month as salary from the profit. At the end of one year the business makes a ... the total share of Arun out o this amount (in Rs.) a)2880 b)2640 c)3240 d)2760
Last Answer : b)2640
Description : Bull and bear are related to which commercial activity? (1) Banking (2) Ecommerce (3) International trade (4) Stock market
Last Answer : (4) Stock market Explanation: Both the terms are related to stock market. Investors who take a bull approach purchase securities under the assumption that they can be sold later at a higher price. A ... believe that the value of a specific security or an industry is likely to decline in the future
Description : A CPA who has been retained by a client that operates in an industry totally new to him a. May not accept such an engagement. b. May accept the engagement only if the ... to commercial banking. d. May accept the engagement because training as a CPA transcends unique industry characteristics
Last Answer : May accept the engagement after attaining a suitable level of understanding of the transactions and accounting practices unique to commercial banking.
Description : In the question below is given a statement followed by several assumptions. Find which of the assumption implicit in the statement. Statement: Bank A' has announced reduction of half percentage on the interest rate on ... Implicit (c) If either I or II is Implicit (d) If both I and II are implicit
Last Answer : (b) If only assumption II is Implicit
Description : Which are defined as total assets other than cash and bank balances and money market instruments? A. Net Assets B. Qualifying Assets C. Commercial Papers D. Both(A) and (C) E. All of the Above
Last Answer : A. Net Assets Explanation: ―Net assets‖ are defined as total assets other than cash and bank balances and money market instruments.
Description : Who among the following inaugurates Bandhan Bank as full-fledged scheduled commercial bank? A. Narendra Modi B. Rajnath Singh C. Santosh Gangwar D. Arun Jaitley E. None of the Above
Last Answer : D. Arun Jaitley Explanation: Union Finance Minister Arun Jaitley officially inaugurated the bank in Kolkata. Initially it opened with 501 branches across India.
Description : Who was the first musician to be felicitated with ‘Bharat Ratna’ ? (1) Lata Mangeshkar (2) M.S. Subbulakshmi (3) Pt. Ravi Shankar (4) Pt. Bhimsem Joshi
Last Answer : M.S. Subbulakshmi
Description : Who, out of the following, was the first recipient of Bharat Ratna Award ? (1) B.C. Roy (2) S. Chandrasekhar (3) C.V. Raman (4) Gobind Ballabh Pant
Last Answer : C.V. Raman
Description : Who among the following had got the Bharat Ratna Award before becoming the President of India ? (1) Dr. Zakir Hussain (2) Dr. Rajendra Prasad (3) Dr. S. Radhakrishnan (4) V.V. Giri
Last Answer : Dr. S. Radhakrishnan