Banking Awareness Quiz | 14 - 08 - 17

1. Banks have launched a service through which money can be transferred using mobile phones. This service is known as-

(a) MMTF (Mobile Money Transfer Facility)

(b) MTMT (Mobile To Mobile Transfer)

(c) IMPS (immediate Payment Service)

(d) IBMPS (Internet Banking Mobile Payment Service)

2. Which among the following statements in an instrument of monetary policy used by the RBI?

(a) Base Rate 

(b) PLR

(c) CRR 

(d) BPLR

3. _________ is the organization that maintains the borrower's history in India.

(a) CRISIL 

(b) CIBIL 

(c) CARE 

(d) RBI

4. RBI has directed commercial banks to resolve ATM transaction-related complaints within seven working days. If a commercial bank is unable to do so then it has to pay Rs. -------------- per days as compensation.

(a) 50 

(b) 100 

(c) 200 

(d) 225

5. RTGS as well as NEFT uses

(a) UTR Number 

(b) MICR 

(c) IFSC 

(d) DNS

6. What does liquidity means?

(a) It means how cash is converted into gold

(b) It means how cheaply and quickly an asset is converted into cash

(c) It means how cash is converted into SDR (Special Drawing Rights)

(d) It means how uncertain the money market conditions are

7. SWIFT is a commonly used acronym in the banking industry. The 'I' IN SWIFT stands for ----------. 

(a) Interbank

(b) International

(c) Intercom 

(d) Indian

8. What does the term Open Market Operations refer to?

(a) Selling of equities in the open market

(b) Selling of commodities in the open market

(c) Buying and selling of government securities in the open market

(d) Buying and selling of products in the wholesale market.

9. Under which act does RBI issue directives to banks?

(a) PMLA act, 2002 

(b) RBI act, 1934 

(c) DICGC act, 1961 

(d) Banking Regulation act, 1949

10. ____________ isn't a method of measurement of National Incomes.

(a) Value-added method

(b) Income method

(c) Investment method

(d) Expenditure method

Answers:

      

1. (c) IMPS (immediate Payment Service)
2. (c) CRR 
3. (b) CIBIL 
4. (b) 100
5. (c) IFSC
6. (b) It means how cheaply and quickly an asset is converted into cash
7. (a) Interbank
8. (c) Buying and selling of government securities in the open market
9. (d) Banking Regulation act, 1949
10. (c) Investment method