Dear BA'ians,
Whatever is the count for the Banking Awareness Questions in the PO Mains and other upcoming exams, every single question is important to get through and yes of course, these will will help all of you to revise some of the basics. So, we are providing the banking awareness questions recalled from RRB exams 2015. Just go through them and revise your basics..
These questions are shared by AK Gupta Sir, Ex- Chief Manager, Punjab National Bank.
1. The right of creditor to retain possession of goods and securities of the debtor till creditor’s dues are paid by the debtor is called: Lien
Whatever is the count for the Banking Awareness Questions in the PO Mains and other upcoming exams, every single question is important to get through and yes of course, these will will help all of you to revise some of the basics. So, we are providing the banking awareness questions recalled from RRB exams 2015. Just go through them and revise your basics..
These questions are shared by AK Gupta Sir, Ex- Chief Manager, Punjab National Bank.
QUESTIONS PART 1 -
1. The right of creditor to retain possession of goods and securities of the debtor till creditor’s dues are paid by the debtor is called: Lien
2. When nomination is made by a depositor who is literate, witness is required from how many persons: None. No witness is required for nomination in case of deposit accounts of literates. (For illiterates 2 witnesses are required)
3. What is the rate of interest given by RBI on CRR Balance: Nil
4. Appeal against the award of the Ombudsman can be made by a customer within how many days?: 30 days from receipt of copy of the award.
5. What is the relationship between a bank and a customer in case of deposit accounts? Debtor and
6. If counterfeit notes up to ____ are detected in a single cash deposit in the bank branch, bank is not required to lodge FIR with police. Instead, bank should send a consolidated report and send such notice to police at the end of the month?: 4
7. An account was opened on 24.11.2007 and the cheque book was issued on 30.11.2007. Two cheques dated 18.11.2007 & 26.11.2007 are presented for payment on 08.12.2007. What should the bank do?: The cheques can be passed if otherwise in order.
8. Validity period by reduced to three months by RBI in case of – Cheques, Demand Draft and Pay Order
9. When Pan no. is not given by a person from whose tax is to be deducted at source, how much tax will be deducted by bank from sums payable to him?: 20%
10. A customer has long overdue overdraft of Rs 10000 recoverable from a borrower. The same customer has a saving and current account with the bank. Bank wants to combine the deposit account of a customer with overdue overdraft account of the same customer for recovery of its dues. Bank can do so by exercising right of: Set Off
11. What is the Bank Rate at present : 8.25%
12. A manufacturing unit will be classified as small manufacturing enterprise provided original investment in plant and machinery does not exceed: Rs 5 crore
13. Rate at which RBI lends to a commercial bank against Govt security is called: Repo Rate
14. Rate at which RBI rediscounts bills of commercial banks is called: Bank Rate
15. When a security is hypothecated in favour of the bank, which of the following will happen?: Both ownership and possession remain with the borrower.
16. In Standard assets other than direct agriculture, SME , Commercial Real Estate and Housing Loan at Teaser Rate what is the rate of provision?: 0.4% of outstanding.
17. For calculating working capital requirement of a firm as per Turnover method, these are worked out at ______% of Projected annual sales: 25%.
18. Banks are required to maintain SLR as per: Section 24 of B R Act
19. Which ratio is calculated to ensure firm’s ability to pay interest and instalment of term loan: Debt Service Coverage Ratio.
20. Crop loan given for short duration crop becomes NPA when it is overdue for: 2 crop seasons.
21. Banks can finance a Self Help Group after: 6 months of its formation.
22. Who decides interest rate on Saving Bank Deposits?: Banks themselves.
23. Penalty for delay is _____ per day if information is not furnished within prescribed time under Right to Information (RTI) Act: Rs.250.
24. What is Operational risk?: Risk due to failure or inadequacy of internal system procedure, people.
25. As per Turnover Method for assessing working capital requirements and as suggested by Nayak Committee, length of operating cycle is assumed at: 3 months.
26. In which type of crossing, a holder of a cheque shall not get a better title than that of the transferor: Not negotiable
27. Which of the following is not a material alteration? Converting a bearer cheque to payable to order
28. In case bank’s name other than of drawee bank is written on the face of the cheque without two parallel lines, then it will be treated as what type of crossing?: Special crossing
29. Loan against Life Insurance Policy is granted on the basis of: Surrender Value.
QUESTIONS PART 2 -
1. Total number of Banking Ombudsman in India: 15
2. Agency which purchases NPA from banks is called: Asset Reconstruction Company
3. What is guarantee corpus in MUDRA bank or funds allocated for MUDRA: Rs 20,000 crores
4. Maximum deposit for allocating a locker: 3 year advance rent plus locker breaking charges
5. Maximum deposit in PPF in a FY: Rs 1,50,000
6. When a farmer in addition to agriculture is engaged in rearing of farm stock, it is called: Mixed farming
7. What is full form of USB: Ultra Small branch
8. Bhartiya Mahila Bank is a – nationalized bank, Gramin bank, Public sector bank, Private Bank: Public Sector Bank
9. Minimum and maximum period for FCNR(B) accounts: 1 year and 5 year.
10. In which currency, FCNR(B) can be opened: In any freely convertible foreign currency
11. What is Deferred Payment Guarantee?: Guarantee issued when payment by applicant of guarantee is to be made in instalments over a period of time.
12. Target for weaker section loan are ____% of ANBC: 10%
13. What is the date for final implementation of Basel III?: 31.03.2019
14. Safe custody of Articles comes under which act: Indian Contract Act
15. Loan to MSME without Collateral : Rs.10.00 Lac
16. CGTMSE set up by: Govt of India and SIDBI
17. CGTMSE cover eligible for loan upto: Rs.100.00 Lac
18. OD in PMJDY account upto: Rs.5,000/-
19. Post Harvest Loan against Pledge or Hypothecation of crop produce provided for____ months: Loan upto Rs.50.00 Lac period not extending 12 months
20. Debt Swap meaning: To extend finance to farmers for repayment of loan taken from non-institution lenders.
21. Shortfall in PS advance target, amount to be deposited in: RIDF
22. Minimum deposit to open BSBDA account:NIL
23. Long duration crop means a crop with crop season of: more than 12 months
24. Provision on secured Sub Standard Loan: 15% of outstanding
25. Maximum amount of Claim that can be filed Lok Adalat: Rs.20.00 Lac
26. Eligible Amount of suit in DRT: Rs.10.00 Lac & above
27. Time Limit for registration of equitable mortgage with CERSAI: 30 days from date of deposit of title deeds
28. Full form of USSD: Unstructured Supplementary Service Data
29. A housing loan in metro area will be classified as Priority Sector, provided maximum amount of loan is up to _______ and maximum cost of house is up to: Rs 28 lac; Rs 35 lac.
30. Personal Accident cover for death and permanent disability in PMJDY: Rs.1.00 Lac
31. Current ratio indicates: Liquidity of the firm
32. Networking capital: Current Assets minus Current Liabilities
33. Under LRS scheme any resident individual can remit abroad upto : $2,50,000 per person per financial year
34. Monthly consolidated report to Police in case of how many counterfeit notes?: Detected upto 4 piece in a single deposit.
35. Rate of Interest in Sukanya Samridhi Account for 2015-16: 9.20%
36. Interest paid by RBI on cash deposit by banks with RBI as CRR requirement: NIL
37. Net Interest Income is Equal to: Interest received on assets - Interest payments on liabilities
38. Standby LC is similar to: Bank Guarantee
39. Pledge is: Bailment of Goods to secure payment of a debt.
40. If Interest and Principal of FD is Rs.20,000 or above it will be paid: by credit to account or account payee cheque and not in cash.
41. Differential rate of interest can be paid on fixed deposit if deposit is for: Rs.1.00 crore and above
42. When banks purchase Govt Security form RBI, it is called: Reverse Repo
43. What is incorrect about RTI?: Reason to be mentioned in RTI application
44. BC agent uses which machine for transactions? : Biometric Machine
45. Minimum Net worth for installing White Label ATMs by a company: Rs.100.00 crore
46. Premium under PM Jeevan Jyoti Bima Yojna: Rs.330/-p.a.
47. Premium under PM Suraksha Bima Yojna: Rs.12/-p.a.
48. Charge of transaction above free transactions while using ATM Card in other bank’s ATM:Rs.20/- per transaction.
49. Minimum Lock in period for Tax saver FDR: 5 Years
50. In which type of charge both possession and ownership are with borrower: Hypothecation
51. Customer day is to be observed on which day of the month: 15th of every month
Dear BA'ians,
As notified earlier, we are providing you the "Corrected Banking Awareness Compendium"with this post in which answers for some of the questions have been rectified .
To download the Updated "Banking Awareness Compendium", Click here
ll the best!
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