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Q. Currency notes are issued by

Ans. RBI

 

Q. Coins are issued by

Ans. Government of India

 

Q. The Modern Bank Ltd., should have minimum of Rs.    Crores as   Tier I capital at the rate of minimum of % respectively as per RBI guidelines applicable to Indian Banks.

Ans. 2700,4.50%

 

Q. A firm has an opening of stock of Rs.70,000, Closing stock of Rs.90,000 and Cost of goods sold Rs.2,40,000. What the Inventory Turnover Ratio?

Ans. 3

 

Q. Which of the following statement is correct?

Ans. Foreign Exchange markets are dynamic and round the clock markets.

 

Q. Which of the following definitions is most correct? UCPDC 500 is :

Ans. Set of rules framed by ICC governing LC business globally .

 

Q. If market quotes USD/INR as 43.61/63, at what rate can you buy USD at the given       quote:

Ans. 43.63

 

Q. A correspondent in Japan wants to fund his Vostro account for Rs 10.00 million. At USD/INR at 63.56/57 and JPY at 109.60/70, how much JPY should the correspondent pay into your Nostro account with him, assuming no margins are loaded:

Ans. 251762

 

Q. We should keep our savings with banks because

Ans. All of above

 

Q. Bank does not give loan against

Ans. Lottery ticket

 

Q. Bank having maximum number of branches in India

Ans. State Bank of India

 

Q. 100/- Rupee note is signed by

Ans. RBI Governor

 

Q. ATM password should be kept in

Memory

 

Q. ATM password to be shared only with

Ans. None of above

 

Q. Nomination can be done in

Ans. All of above

 

Q. Who is the present Governor of RBI?

Ans. Shaktikanta Das

 

Q. Minimum age required to open SB account in the bank

Ans. 10 years

Q. Bank Pass Book is

Ans. All of above

Q. General Insurance relates to insurance against

Ans. All of above

 

Q. Aadhaar is

Ans. Both (a) & (b)

 

Q. E or S means

Ans. Either or Survivor

 

Q. Which is prohibited for writing on currency notes?

Ans. All of above

 

Q. PPF means

Ans. Public Provident Fund

 

Q. Highest denomination of currency notes issued by RBI is

Ans. Rs.1,000/-

 

Q. NRI means

Ans. Non Resident Indian

Q. Gold and silver ornaments should be kept in bank lockers

Ans. Both (a) & (b)

Q. PAN means

Ans. Permanent Account Number

 

Q. Who is the present Union Finance Minister of India?

Ans. Nirmala Sitharaman

 

Q. Bank provides loans for

Ans. All of above

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Q. Which currency note has security thread?

Ans. All of above

 

Q. The safest place for keeping money

Ans. Bank

 

Q. Banks pays interest on

Ans. Deposits

 

Q. Bank charges interest on

Ans. Loans

 

Q. Education Loans

Ans. All of above

 

Q. Business Correspondent means

Ans. An agent who provides banking services

 

Q. Internet banking refers to

Ans. Operation of account through internet

 

Q. Nomination once done can

Ans. Be cancelled

 

Q. The loans sanctioned by banks/ NBFCs/ MFIs on or after        upto `10 lacs for small business income generating activities are known as PMMY loans.

Ans. 08-Apr-15

 

Q. What is the amount of overdraft facility sanctioned under PMJDY is classified as MUDRA loans under PMMY?

Ans. 5,000/-

 

Q. Who is eligible to get the MUDRA Loans under PMMY out of following borrowers?

Ans. Small fruit vendors, vegetables sellers etc.

 

Q. Total loans sanctioned/ disbursed under PMMY is accessible to         for information of the Banks/ NBFCs / MFIs, General Public at large.

Ans. MUDRA Portal

 

Q. All PMMY loans will be governed by , formulated by MUDRA, in consultation with DFS, rating agencies, MFIN and Sa-Dhan and other stakeholders for adoption by all the lending institutions.

Ans. MUDRA Loan Charter

 

Q. MUDRA scheme is applicable to which type of MSE businesses under Income Generation purpose

Ans. Both a) and b)

 

Q. The Basel Committee has defined gross income as net interest income and plus net non-interest income and has allowed each relevant national supervisor to define gross income in accordance with the prevailing accounting practices. Accordingly the Reserve Bank of India in the draft guidelines issued on 11.03.2005 for implementation of the new capital adequacy framework has modified the Gross Income definition slightly. The Net Interest Income has been replaced by

Ans. Net Profit

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Q. Based on the Gross Income given above, the likely Capital Charge for Modern Bank Ltd., as on March 31, 2007 to cover Operational Risk under Basic Indicator Approach shall be

Ans. 450 crores

 

Q. The Modern Bank Ltd., will require total Capital Funds for covering Credit Risk. As on March31,2007 to comply Basel II norms of Rs.      crores.

Ans. 5400 crore

 

Q. Payment of cheque can be stopped by

Ans. Drawer of cheque

 

Q. Account payee cheques can be paid

Ans. By deposit in Bank account

 

Q. In Recurring Deposits,

Ans. All of above

 

Q. Interest on Savings Bank Deposits is paid

Ans. Half yearly

 

Q. Mutilated notes

Ans. Can be exchanged at Bank

 

Q. ATM can be used for

Ans. All of above

 

Q. Upon detection of a counterfeit note at the counter, Bank

Ans. Impound the Note and issue receipt

 

Q. Fixed Deposit can

Ans. Withdrawn before maturity

 

Q. Interest on FDRs is compounded on

Ans. Quarterly basis

 

Q. Contents of locker are

Ans. Only known to hirer

 

Q. If locker rent is not paid, Bank can

Ans. All of above

 

Q. MGNREGS stands for

Ans. Mahatma Gandhi National Rural Employment Guarantee Scheme

 

Q. Net Interest income is

Ans. Difference between interest earned and interest paid

 

Q. Interest rate risk is a type of

Ans. Market risk

 

Q. European option can be exercised on any day at the option of the buyer on or before the expiry of the option.

Ans. False

 

Q. If the volatility per annum is 25% and the number of trading days per annum is 252, find the volatility per day.

Ans. 1.58%

 

Q. As per Reserve Bank of India directives the Minimum Capital Adequacy Ratio and minimum Tier I capital the Modern Bank is required to maintain as on 31.03.2007 should be             respectively.

Ans. 9% and 4.5%

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Q. Maximum tenure of Fixed Deposit is

Ans. 10 years

 

Q. What is RuPay Debit Card?

Ans. All of above

 

Q. To whom Overdraft facility of Rs.5,000/- in PMJDY Account is available?

Ans. All of above

 

Q. What is Direct Benefit Transfer?

Ans. Transfer of social benefits / subsidies directly in Bank accounts of beneficiaries

 

Q. What is meant by Aadhaar seeding?

Ans. Linking of Aadhaar with Bank account

 

Q. What are the benefits attached to PMJDY?

Ans. All of above

 

Q. Who can open an account under PMJDY?

Ans. All of above

 

Q. Who is Bank Mitra?

Ans. Banking Correspondents engaged by Banks

 

Q. What is the maximum amount of deposits acceptable in Small accounts?

Ans. Rs.50,000/-

 

Q. What kinds of services are available free in ‘Basic Savings Bank Deposit Account’?

Ans. All of above

 

Q. What is the minimum deposit required while opening a BSBD Account?

Ans. No minimum deposit required

 

Q. What is Atal Pension Yojana (APY)?

Ans. All of above

 

Q. What is Pradhan Mantri Suraksha Bima Yojana (PMSBY)?

Ans. Accidental insurance cover

 

Q. What is Pradhan Mantri Jivan Jyoti Bima Yojana (PMJJBY)?

Ans. Covers life insurance up to Rs.2 lac

 

Q. Which type of deposits earns higher interest rate?

Ans. Fixed Deposits

 

Q. Under PMSBY, accidental death claim is available for:

Ans. Rs.2 lac

 

Q. What is validity period of cheque?

Ans. 3 months from date of issue

 

Q. Under PMSBY, partial disability claim is available for:

Ans. Rs.1 lac

 

Q. Can illiterate person be issued Debit card?

Ans. Yes

 

Q. Under APY, fixed pension can be chosen from:

Ans. Rs.1,000/-, Rs.2,000/-, Rs.3,000/-, Rs.4,000/-, Rs.5,000/-

 

Q. PMJDY LIC Insurance of Rs.30,000/- is available for first time accounts opened         

Ans. Between 15th August 2014 and 26th January 2015

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Q. Bank does not provide loans for

Ans. Drinking & Gambling

 

Q. KYC means

Ans. Know your customer

 

Q. Loans from money lenders are

Ans. All of above

 

Q. ATM means

Ans. Automated Teller Machine

 

Q. Timely repayment of loans results

Ans. All of above

 

Q. Defaulter of loan means

Ans. Not paying loan installments

 

Q. Life insurance means

Ans. Insurance of human

 

Q.         are not covered under PMJDY Life Insurance Scheme of Rs.30,000/-

Ans. All of above

 

Q. What does PMMY Stand for?

Ans. Pradhan Mantri Mudra Yojana

 

Q. What is the maximum loan amount available under PMMY?

Ans. 10.00 lacs

 

Q. How much loan can be availed under "Shishu" Category?

Ans. 50,000/-

 

Q. Loan of ` 5 lacs is covered under which category?

Ans. Kishore

 

Q. What is the purpose for which MUDRA loan can be availed for carrying on any activity related to          ?

Ans. Manufacturing, Processing, Trading, Services

 

Q. Who can open bank account?

Ans. All of above

 

Q. PAN number is required for

Ans. Deposits Rs.50,000/- & above

 

Q. TDS means

Ans. Tax Deducted at Source

 

Q. Maximum amount of Cheque

Ans. No limit

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Q. Bank draft is issued by

Ans. All of above

 

Q. Self Help Group involves

Ans. All of above

 

Q. PMMY Loan is given for which purpose?

Ans. Income Generation Purpose

 

Q. What are the Collateral /securities to be kept with Banks for getting loans for MSE under PMMY?

Ans. NIL

 

Q. Who can avail the PMMY loan?

Ans. Both (a) and (b)

 

Q. From where the PMMY loan can be availed?

Ans. Public Sector Banks, Private Sector Banks, Foreign Banks, Cooperative Banks,

 

Q. PMMY Loan can be availed from the bank in which     ?

Ans. Both a) and b) c)

 

Q. What is the role of MUDRA under PMMY Loans?

Ans. Acts as a Refinance Agency and refinances to all banks, NBFCs, MFIs for onward lending to customers under different categories of PMMY loans, as per need of the customer.

 

Q.  The borrowers can avail the credit in a hassle free and flexible manner with the MUDRA CARD which is a       

Ans. Debit Card with Sanctioned limit

 

Q. MUDRA Card is a debit card on which payment platform?

Ans. RuPay

 

Q. What is the use of MUDRA Card? And how it can be used?

Ans. Both of above

 

Q. Who issue the MUDRA Card to customer?

Ans. Banks either directly or in association with MFIs

 

Q. PMMY loans are applicable to           ?

Ans. all banks all over India

 

Q. What are the Interest rates of the PMMY loans extended by banks, NBFCs, MFIs to the borrowers?

Ans. Reasonable rates decided by lending banks, NBFCs, MFIs that should fall within the overall RBI Guidelines

 

Q. PPMY Loans are provided for what Tenure?

Ans. Depends on cash flows of the business and decided by the lending Institution

 

Q. What is the grievance redressal mechanism available against bank officials, in the event of non-sanction of loan?

Ans. Both of above

 

Q. What are the documents that are required to be submitted for availing loans under MUDRA?   

Ans. Both of above

 

Q. Who monitors the implementation of PMMY progress at National level?

Ans. MUDRA/Department of Financial Services

 

Q. Where are the Frequently Asked Questions (FAQs) on PMMY Loans available for information of the Lending Institutions/public?

Ans. MUDRA website

 

Q. Sample Project Profiles for running or setting up of micro/small enterprises is available at                   .

Ans. MUDRA website

 

Q. MUDRA has been set up by whom?  

Ans. Government of India