Description : What does ECS in banking transactions stand for? (1) Excess Credit Supervisor (2) Extra Cash Status (3) Exchange Clearing Standard (4) Electronic Clearing Service
Last Answer : (4) Electronic Clearing Service Explanation: Electronic Clearing Service is a mode of electronic funds transfer from one bank account to another bank account using the services of a Clearing ... tax, etc or for loan installments of financial institutions/banks or regular investments of persons.
Description : Which of the following is not e-banking software? A. ECS B. RTGS C. PIPS D. IBR
Last Answer : C. PIPS Explanation: ECS – Electronic Clearing Service RTGS – Real Time Gross Settlement PIPS is not an e-banking software.
Description : "Smart Money" term is used for - (1) Credit Card (2) Internet Banking (3) eBanking (4) Cash with Public
Last Answer : (1) Credit Card Explanation: Credit cards are sometimes considered as smart money since they enable transactions without the need for physical cash and that, too, in a convenient manner. It ... pure economic terms, Smart Money refers to investments made by people experienced in matters of finance.
Description : ”Smart Money” term is used for (1) Credit Card (2) Internet Banking (3) eBanking (4) Cash with Public
Last Answer : Credit Card
Description : “Hawala transactions” in India are prohibited under the provision of which of the following acts? A. Banking Regulation Act B. Financial Action Task Force Act C. Foreign Exchange Management Act D. All of the Above E. None of the above
Last Answer : C. Foreign Exchange Management Act Explanation: ―Hawala transactions‖ in India are prohibited under the provision of Foreign Exchange Management Act.
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 commercial bank law creates credit only if it has - (1) Cash in the vault (2) Excess reserves (3) Permission of Reserve Bank of India (4) (4) Cooperation of other banks
Last Answer : (1) Cash in the vault Explanation: A commercial bank is a profitseeking business, dealing in money and credit. It is a financial institution dealing in money in the sense that it accepts deposits of ... received as the deposits to needy people. So it creates credit from the cash deposits with it.
Description : A commercial bank law creates credit only if it has (1) Cash in the vault (2) Excess reserves (3) Permission of Reserve Bank of India (4) Cooperation of other banks
Last Answer : Cash in the vault
Description : _______ is the process of updating the accounts of the trading parties. a. Underwriting b. Clearing c. Banking
Last Answer : b. Clearing
Description : Barter transactions means - (1) Goods are exchanged with gold. (2) Coins are exchanged for goods. (3) Money acts as a medium of exchange. (4) Goods are exchanged with goods.
Last Answer : (4) Goods are exchanged with goods. Explanation: Barter is a system of exchange where goods or services are directly exchanged for other goods or services without using a medium of exchange, ... crisis, such as when the currency may be either unstable or simply unavailable for conducting commerce,
Description : Barter transactions means (1) Goods are exchanged with gold. (2) Coins are exchanged for goods. (3) Money acts as a medium of exchange. (4) Goods are exchanged with goods.
Last Answer : Goods are exchanged with goods.
Description : In credit transactions, goods or services are purchased for cash only
Last Answer : State whether the following statement are true or false with reason : In credit transactions, goods or services are purchased for cash only
Description : (i) System in which entry is recorded for cash as well as credit transactions.
Last Answer : Give the word term or phrase which can substitute each of the following statement : (i) ... of goods or services for immediate cash payment.
Description : Which one of the following transactions changes the current ratio ? (A) Purchase of goods for cash (B) Plant acquired on account (C) Sold goods on credit (D) Debentures converted into equity capital
Last Answer : Answer: Plant acquired on account
Description : In Electronic cash payment a. a debit card payment system is used b. a customer buys several electronic coins which are digitally signed by coin issuing bank c. a credit card payment system is used d. RSA cryptography is used in the transactions
Last Answer : b. a customer buys several electronic coins which are digitally signed by coin issuing bank
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 : The permission given to a bank customer to draw cheques in excess of his current account balance is called - (1) a personal loan (2) an ordinary loan (3) discounting a bill of exchange (4) an overdraft
Last Answer : (4) an overdraft Explanation: Overdrafts is an extension of credit from a lending institution when an account reaches zero. An overdraft allows the individual to continue withdrawing money even if the ... available balance goes below zero. In this situation the account is said to be "overdrawn."
Description : The permission given to a bank customer to draw cheques in excess of his current account balance is called (1) a personal loan (2) an ordinary loan (3) discounting a bill of exchange (4) an overdraft
Last Answer : an overdraft
Description : Retailing is BEST characterised or define A)as transactions in which the buyer intends to consume the product through personal,family, or household use. B)by arrangements whereby a supplier grants a ... business operations. D)by exchanges that take place only in a store or service establishment.
Last Answer : A)as transactions in which the buyer intends to consume the product through personal,family, or household use.
Description : The reserves held by Commercial Banks over and above the statutory minimum, with the RBI are called - (1) Cash reserves (2) Deposit reserves (3) Excess reserves (4) Momentary reserves
Last Answer : (3) Excess reserves Explanation: In banking, excess reserves are bank reserves in excess of the reserve requirement set by a central bank. They are reserves of cash more than the required ... is that doing so may provide enhanced liquidity and therefore more smooth operation of payment system.
Description : The reserves held by Commercial Banks over and above the statutory minimum, with the RBI are called (1) Cash reserves (2) Deposit reserves (3) Excess reserves (4) Momentary reserves
Last Answer : Excess reserves
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 : Which one of the following is not a dimension of human development, index? (1) Life expectancy (2) Knowledge (3) Social status (4) Standard of living
Last Answer : (3) Social status Explanation: Social Status is not a dimension of Human Development Index
Description : Which one of the following is not a dimension of human development index ? (1) Life expectancy (2) Knowledge (3) Social status (4) Standard of living
Last Answer : Social status
Description : The date of credit of cheque in case of RD/PPF account will be the date of a) Presentation of cheque b) Receipt of the cheque from postmaster c) Receipt of the cheque from HO d) The date clearing
Last Answer : d) The date clearing
Description : An ECS transaction gets bounced and you are unable to recover your money from your customer. Under which Act criminal action can be initiated? A. Negotiable Instrument Act 1881 B. Criminal Procedure Code C. Payment and Settlement Systems Act 2007 D. Indian Companies Act 1956
Last Answer : C. Payment and Settlement Systems Act 2007 Explanation: Under the Section 25 of Payment and Settlement Systems (PSS) Act, 2007, dishonour of an electronic fund transfer instruction due to insufficiency ... fine or both, similar to the dishonour of a cheque under the Negotiable Instruments Act 1881.
Description : Which of the following is not the name of charging station? • Electric vehicle charging station • EVSE • ECS • ESSV
Last Answer : • ESSV
Description : What controls cabin pressurisation? a. ECS pack mass flow controller b. Outflow valve c. Engine bleed valve d. Inflow valve
Last Answer : b. Outflow valve
Description : ___________ can be used as a standard to measure the efficiency of an economy 1. Cash reserve ratio 2. Exchange rate ratio 3. Incremental capital output ratio 4. Profit ratio 5. None of these
Last Answer : Incremental capital output ratio
Description : For which function money is accepted as a unit of account? (a) Measure of value. (b) Store of value. © Medium of exchange. (d) Standard of deferred payment.
Last Answer : (a) Measure of value.
Description : Is snow clearing after a snow storm an essential service?
Last Answer : Depends on the city and the amount of snow and weather prediction. Personally, I like my city to do nothing and let people have a break from routine until it melts, since snow rarely lasts more than a day or two here.
Description : Check supervisor in RMS the standard for test sorting will be a) 500 article per hour b) 800 article per hour c) 1000 article per hour d) 1200 article per hour
Last Answer : a) 500 article per hour
Description : t is permissible to allow trainee welder to carry out production welding? a) Never b) Yes as long as the supervisor is happy with his workmanship standard c) Yes as long as he has the approved ... cover the intended scope of work d) Yes as long as no NDT is required on the finished weld
Last Answer : a) Never
Description : In International Banking terms,”Appreciation” of Rupee means ________ A. Excess of exports over imports B. Purchasing power of rupee has come down C. Availability of less foreign currency vis-a-vis rupee D. Excess of imports over exports E. Availability of more foreign currency vis-a-vis rupee
Last Answer : C. Availability of less foreign currency vis-a-vis rupee Explanation: Currency Appreciation refers to increase in the value of domestic currency in terms of foreign currency. The domestic currency becomes more valuable and less of it is required to buy the foreign currency.
Description : What is it that can act as a medium of exchange in transactions? -SST 10th
Last Answer : It is money that can act as a medium of exchange in transactions.
Description : Who among the following appoints the “Authorized Dealers” for foreign exchange transactions? A. GOI B. RBI C. PSBs D. FEDAI E. FIMMDA
Last Answer : D. FEDAI Explanation: Foreign Exchange Dealer s Association of India (FEDAI) was set up in 1958 as an Association of banks dealing in foreign exchange in India (typically called Authorised Dealers - ... among banks vis-à-vis public and liaison with RBI for reforms and development of forex market.
Description : A primary objective of dual exchange rates is to allow a country the ability to insulate its balance of payments from net: A. Current account transactions B. Unilateral transfers C. Merchandise trade transactions D. Capital account transactions
Last Answer : D. Capital account transactions
Last Answer : D. Capital account transaction
Description : Which exchange-rate mechanism is intended to insulate the balance of payments from short-term capital movements while providing exchange rate stability for commercial transactions? A. Dual ... Floating Exchange Rates C. Adjustable Pegged Exchange Rates D. Crawling Pegged Exchange Rates
Last Answer : A. Dual Exchange Rates
Description : 20) Use Accounting Equation to show the effect of the following transactions of Ram Traders.a) Started business with cash ₹ 1,00,000.b) Bought goods for cash \( ₹ 20,000 \).c) Cash sales ₹ \( 60,000 . \)
Last Answer : 20) Use Accounting Equation to show the effect of the following transactions of Ram Traders. a) Started ... 000 . c) Cash sales ₹ 60,000 .
Description : In cash transactions, goods or services are purchased for a certain value to be paid in the future.
Last Answer : State whether the following statement are true or false with reason : In cash transactions, goods or ... a certain value to be paid in the future.
Description : Most of the independent auditor's work in formulating an opinion on financial statements consists of a. Studying and evaluating internal control b. Obtaining and examining evidential matter c. Examining cash transactions d. Comparing recorded accountability with assets
Last Answer : Obtaining and examining evidential matter
Description : Which of the following statements is not correct? A. For the purpose of Funds Flow Statement, the term 'fund ' generally refers to net working capital B. Funds flow is a wider concept than ... business D. The capitalisation of reserves by the issue of bonus shares also involves flow of funds
Last Answer : D. The capitalisation of reserves by the issue of bonus shares also involves flow of funds
Description : The law regarding negotiable instruments is contained in __________ A. The Bill of exchange Act 1881 B. The Banking Regulation Act 1949 C. Cheques Act, 1881 D. The Negotiable Instruments Act, 1881
Last Answer : D. The Negotiable Instruments Act, 1881 Explanation: The Negotiable Instruments Act, 1881 – An Act to define and Law relating to negotiable instruments which are Promissory Notes, Bills of Exchange and cheques.
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 : 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 : Is it possible to have a baby after eating MM kit ? After 1 day of eating MM kit, bleeding stopped and there was excess pain in the lower abdomen. I took painkillers and the pain did not subside ... Kit cause any problem for mother and baby. Please give me the correct answer I am under extra stress.
Last Answer : Usually when the fetal age is maximum 9 weeks or 63 days, it can be destroyed by using MM kit. But if it is more than that, abortion can no longer be done with MM kit It may be more or less , ... will not be harmed. There will be no problem in having a baby in the future or in the present baby.
Description : The main cause of meandering is (A) Presence of an excessive bed slope in the river (B) Degradation (C) The extra turbulence generated by the excess of river sediment during floods (D) None of the above
Last Answer : Answer: Option C