Quest For Clerk Mains: Banking Quiz

1. Collateral securities can be _______?

(a) Tangible 

(b) Intangible in the shape of personal guarantee of a third party 

(c) None of the above

(d) Both of the above 

2. The Definition of ‘Banking’ is given in

(a) Negotiable Instrument Act, 1881 

(b) RBI Act, 1934 

(c) The Banking Regulation Act, 1994 

(d) Contract Act 

(e) None of the above

3. Many a times we read about Special Drawing Rights (SDR) in newspapers. As per its definition, SDR is a monitory unit of reserve asset of which the following organization/agency?

(a) World Bank

(b) International Monitory Fund (IMF) 

(c) Asian Development Bank (ADB)

(d) Reserve Bank of India (RBI)

(e) None of the above

4. Who supplies interest-charts for different maturities and for different rates of interest?

(c) Government of India

(e) None of the above

5. Bank conducts Government business at its branches as an agent of _____?

(c) Government of India 

(d) State Government  

(e) None of the above

6. Foreign exchange Reserves of India are kept in the custody of ______?

(a) World Bank

(b) International Monetary Fund 

(c) Prime Minister Rahat Kosh 

(d) Reserve Bank of India 

(e) None of the above

7. What measure RBI usually takes to control Inflation in India?

(a) RBI decrease the Repo Rate

(b) RBI ask the Central Government to increase the Repo Rate 

(c) RBI cancels the option of Repo Rate 

(d) RBI declares Repo Rate as Zero Percent 

(e) RBI increase the Repo Rate 

8. Reverse Repo Rate means that _____?

(a) the rate at which RBI borrows money from Central Government.  

(b) the rate at which state governments borrows money from banks.

(c) the rate at which RBI borrows money from banks. 

(d) the rate at which RBI borrows money from State Government. 

(e) the rate at which RBI borrows money from World bank.

9. Lead Bank Scheme was introduced in ______?

(e) None of the above

10. In the case of FCNR accounts the payment of interest is effected in ______?

(a) Indian Rupee 

(b) Only in Pound

(c) Same currency in which deposit stands 

(e) None of above

Answers will be provided soon

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