N.Rangarajan's Model Online Test - Latest In Indian Banking
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This test is based on latest developments in Banking in�India between Jan 2009 to April 2010 based on the regulatory guidelines (RBI) The basic reference material is the Monthly Credit Information Review Published by Reserve Bank of India and available in their website. The Test is designed with a view to help aspiring promotees of Indian Public Sector Banks from clerical to Officer cadre as well as for grade promotion exams for the officers. The Test template is identical to the one adopted by IBPS for their online tests. This Test will be useful as a practice test for such Banking Personnel from India. �Errors and mistakes that might have crept in by oversight, may please be excused. Please take Quiz Password by e Mailing to [email protected] C
- 1.Identify the Financial Inclusion Initiatives of Reserve Bank
- A.
No Frill Accounts
- B.
General Purpose Credit Card
- C.
Smart Card with Biometric solutions
- D.
Appointment of Business Facilitators and Correspondents
- E.
All the above
- 2.What is FLCC?
- A.
Financial Literacy and Credit Counselling
- B.
Financial Leverage and Credit Control
- C.
Financial Legacy Coverage Concept
- D.
Factoring Liquidity to Core Credit
- E.
Fiduciary Line of Customers Credit
- 3.Which of the following is not the objective of FLCC?
- A.
Provide financial counselling services through face-to-face interaction as well as through other available media like e-mail, fax, mobile, etc., education on responsible borrowing, proactive and early savings, and offer debt counselling to individuals who are indebted to formal and/ or informal financial sectors
- B.
Arrange for debt swap and loan takeover
- C.
Educate people in rural and urban areas regarding the various financial products and services available from the formal financial sector
- D.
Formulate debt restructuring plans for borrowers in distress and recommend them to formal financial institutions, including cooperatives, for consideration
- E.
Take up any such activity that promotes financial literacy, awareness of banking services, financial planning and amelioration of debt-related distress of individuals
- 4.What is the additional security architecture prescribed by RBI for online debit/credit card transactions?
- A.
Verified by Visa
- B.
A system of providing for additional authentication/ validation based on information not visible on the cards for all on-line ‘card not present’ transactions except interactive voice recognition (IVR) transactions
- C.
A system of ';Online Alerts'; to the cardholder for all 'card not present' transactions of the value of Rs. 5,000 and above
- D.
Verisign Certification/Appending Digital signature
- E.
B & C above
- 5.What is FSF?
- A.
Factoring Services Force
- B.
Final Systems Figure
- C.
Fractional Segregation Finance
- D.
Financial Stability Forum
- E.
Futuristic Services Finance
- 6.In ATM Transactions,where account is debited but cash not dispensed,the amount should be reimbursed within ________ days
- 7.The current Bank rate is (as on 01.05.2010)
- A.
3%
- B.
4%
- C.
5%
- D.
6%
- E.
10%
- 8.What is the maximum period for which Bank Guarantees can be issued
- A.
3 years
- B.
5 Years
- C.
7 Years
- D.
10 Years
- E.
No Ceiling at present.
- 9.The nominee’s name in the pass book/statement of accounts/fixed deposit receipt, in case the customer is _____________ to the same, as this would be helpful to the customers/nominees
- 10.Who will be permitted to issue Pre Paid Instruments by Reserve Bank of India?
- A.
Banks which comply with the eligibility criteria would be permitted to issue all categories of pre-paid payment instruments.
- B.
Non-banking financial companies (NBFCs) and other persons would be permitted to issue only semi-closed system payment instruments.
- C.
Only banks which have been permitted to provide mobile banking transactions by the Reserve Bank would be permitted to launch mobile based pre-paid payment instruments (mobile wallets and mobile accounts)
- D.
Banks and NBFCs which comply with the capital adequacy requirements prescribed by the Reserve Bank, would be permitted to issue pre-paid payment instruments. All other persons should have a minimum paid-up capital of Rs 100 lakh and positive net owned funds
- E.
All the above
- 11.How many types of Pre Paid Instruments are at present permitted?
- A.
Semi-closed system payment Instruments up to Rs 1000
- B.
Pre-paid payment instruments up to Rs 5000
- C.
No Classification/No Ceiling
- D.
A & B above
- E.
None of the above.
- 12.Say " True" or "False""More than one active instrument under Semi Closed System Payment Instrument" can be issued to the same holder by the same issuer.
- A.
True
- B.
False
- C.
Partly True
- D.
Partly False
- 13.Cash withdrawal _______ ____ ___ ___________________ under Pre-paid payment instruments up to Rs 5000
- 14.If it is only for payment of utility Bills, what is the maximum value upto which Semi-closed system payment instruments can be issued?
- A.
1000
- B.
5000
- C.
10000
- D.
50000
- E.
No Limit
- 15.What is the prescribed validity period of a prepaid instrument?
- A.
6 Months from the date of activation/issuance to the holder
- B.
12 months
- C.
18 months
- D.
24 months
- E.
None of the above
- 16.When the holder of pre paid instrument will forfeit his unutilised amount?
- A.
Automatically a reloaded new instrument will be issued
- B.
On the date of expiry of validity
- C.
If the holder is cautioned at least 15 days in advance regarding the expiry of the validity.
- D.
None of the above
- E.
If the holder is repeatedly cautioned at least 30 days in advance regarding the expiry of the validity.
- 17.From April 1, 2010, scheduled commercial banks would calculate payment of interest on savings bank accounts on a _____ product basis.
- 18.Say " True" or "False"" The permission/license of Reserve Bank of India is required to install Off Site ATMs.
- A.
True
- B.
False
- 19.What is the cash withdrawal per day permitted by RBI for all debit cards issued in India @ Point of Sale (POS) terminals?
- A.
Rs 500
- B.
Rs 1000
- C.
Rs 2500
- D.
Rs 5000
- E.
Rs 250
- 20.What is the Time Schedule for Advanced Approaches of Basel II Framework under Standardised Approach for operational risk?
- A.
March 31, 2011
- B.
April 1, 2012
- C.
March 31, 2014
- D.
September 30, 2010
- E.
None of the above
- 21.What is the new short term instrument issued by Government of India to meet the temporary cash flow mismatches of the Government?
- A.
Cash Management Bills
- B.
Tresury Bills
- C.
Dated Securities
- D.
Indian Depository Receipts
- E.
Gilt Edged Securities
- 22.What is the tenor of Cash Management Bills?
- A.
91 days
- B.
Less than 91 days
- C.
90 days
- D.
60 days
- E.
30 days
- 23.The definition of Commercial Real Estate (CRE) by Resrve Bank of India is closely aligned to ________ ___ guidelines
- 24.Loans granted by banks for retail trade [i.e., advances granted to retail traders dealing in essential commodities (fair price shops), consumer cooperative stores and advances granted to private retail traders with credit limits not exceeding Rs. 20 lakh] would henceforth be part of the ______ _______ _____________ .
- 25.The subordinated debt as Tier II capital can now be issued by Schdeuled Commercial Banks to shore up their capital adequacy with special features such as
- A.
Call Option
- B.
Step Up Option
- C.
Put Option
- D.
A & B above
- E.
A & C above
- 26.The Deposit Insurance and Credit Guarantee Corporation Act, 1961 grants protection to depositors of all commercial banks (including regional rural banks and cooperative banks) which are registered as insured banks. Each depositor of an insured bank which goes in liquidation is entitled to receive from the Corporation, an amount of _________________
- A.
Rs.1,00,000
- B.
Rs 2,00,000
- C.
Rs 5,00,000
- D.
Rs 10,00,000
- E.
None of the above
- 27.Interest Subvention Scheme for Short-term Crop Loans to farmers is available on
- A.
Production Credit
- B.
Investment Credit
- C.
A & B above
- D.
Agri Project Credit
- E.
Non Fund Based facilities to Agriculturist
- 28.The ceiling amount of loan under Short Term agricultural interest subvention is
- A.
Rs 1 lac
- B.
Rs 1.50 lacs
- C.
Rs 2.00 lacs
- D.
Rs 2.50 lacs
- E.
Rs 3.00 lacs
- 29.What is the one more sector for which interest subvention is allowed upto 31.03.2010?
- A.
MSME Sector
- B.
Rupee Export Credit
- C.
Infrastructure Sector
- D.
CRE
- E.
Housing
- 30.The provisioning requirement for advances to the CRE sector classified as ‘standard assets’ has been increased from ___ per cent to ___ per cent
- A.
0.25 , 1.00
- B.
0.25 , 0.40
- C.
0.40 , 0.50
- D.
0.40, 1.00
- E.
1.00 to 2.00
- 31.Savings as well as current account should be treated as inoperative/dormant if there are no transactions in the account for a period over ____ years.
- A.
One
- B.
Two
- C.
Three
- D.
Four
- E.
Five
- 32.What is the amximum time upto which RTGS transactions for customers can be conducted from Monday to Friday?
- A.
16.30 hrs
- B.
15.30 hrs
- C.
14.30 hrs
- D.
16.00 hrs
- E.
None of the above
- 33.What is the maximum time limit for Inter Bank Transactions on Saturday?
- A.
13.00 hrs
- B.
15.00 hrs
- C.
16.00 hrs
- D.
16.30 hrs
- E.
18.00 hrs
- 34.The Reserve Bank has introduced/advised Banks to switch over to a new type of Pricing Mechanism on aasset products of commercial Banks
- A.
Administered Rates
- B.
PLR
- C.
BPLR
- D.
LIBOR/SIBOR
- E.
Base Rate
- 35.What are the latest KYC guidelines in respect of New Accounts opened for Proprietary concern?
- A.
Proof of the name, address and activity of the concern, like registration certificate (in the case of a registered concern), certificate/licence issued by the municipal authorities under the shops and establishment act, sales and income tax returns, central sales tax/value added tax certificate, certificate/registration document issued by sales tax/service tax/professional tax authorities, licence issued by the registering authority like certificate of practice issued by Institute of Chartered Accountants of India, Institute of Cost Accountants of India, Institute of Company Secretaries of India, Indian Medical Council, Food and Drug Control Authorities, etc
- B.
Any two of the above documents in (A) would suffice. These documents should be in the name of the proprietary concern.
- C.
A & B above
- D.
As per existing practice only
- E.
In addition to KYC of te firm,the KYC of Individual Proprietor should be complied with
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