Banking and Financial Awareness for SBI PO - Part 3

1. What does ‘Kite Flying’ refers to in the banking terminology?

a. The practice of depositing and with drawing frequently in a bank account.
b. Opening of multiple accounts with different names by any individual
c. Doing unauthorized business
d. Permitting drawls against unclear cheques
e. With the help of banking doing import and export

2. After the recommendations of which of the following committees the Universal Banking got its real existence in India?

a. C Rangarajan Committee
b. Narasimham Committee
c. Rakesh Mohan Committee
d. RH Khan Committeee
e. R Chelliah Committee

3. Raghu deposited Rs. 50,000 in Canara Bank and got Demand Draft. He wants to cancel the Demand Draft. Then?

a. Once Demand Draft issued, it cannot be cancelled
b. Demand Draft can be cancelled by Canara Bank. However the cancellation charges may be there.
c. He can approach any public sector bank to cancel the Demand Draft, as Canara Bank is also a Public Sector Bank.
d. Only after 90 days the Demand Draft can be cancelled, as the Demand Drafts cannot be cancelled during the valid date period.
e. Raghu should get permission form RBI to get the cancellation of Demand Draft.

4. Name the organization which is the part of the World Bank that helps the world’s poorest countries. Overseen by 173 shareholder nations, aims to reduce poverty by providing loans (called “credits”) and grants for programs that boost economic growth, reduce inequalities, and improve people’s living conditions?

a. IMF
b. IBRD
c. IDA
d. ADB
e. None

5. Export Import Bank of India is the premier export finance institution in India, established in which year under the Export Import Bank of India Act?

a.1949
b.1972
c.1992
d.1956
e.none

6. Coins are minted at ?

a. Mumbai
b. Hyderabad
c. Noida
d. Kolkatta
e. All of these

7. Who is the Chairman of the committee set up to scrutinize applications for new Bank licenses?

a. Usha Thorat
b. Bimal Jalan
c. C B Bhave
d. S Damodaran
e. Dr. Nachiket Mor

8. Which of the following is a measure taken by the Reserve Bank of India to control inflation in our country?

a. Increasing the CRR
b. Increasing the SLR
c. Contraction of supply of currency
d. Raising Repo / Reverse Repo Rate
e. Decreasing the SLR

9. What type of loan is granted by banks for purchase of white goods?

a. Consumption loan
b. Mortgage loan
c. Consumer durables loan
d. Home loan
e. Personal loan

10. Which of the following institutions is an asset reconstruction company?

a. CIBIL
b. DICGC
c. BCSBI
d. ARCIL
e. IRDA

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Answers:

1. Permitting drawls against unclear cheques

2. Narasimham Committee

3. Demand Draft can be cancelled by Union Bank of India. However the cancellation charges may be there

4. IDA (international development association)

5. none (1982)

6. All of these

7. Bimal Jalan

8. Raising Repo / Reverse Repo Rate

9. Consumer durables loan

10. ARCIL

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