Banking : Multiple choice questions quiz - 7

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Bank quiz

1. The one-rupee note bears the signature of____________.
(a) RBI Governor
(b) Deputy Governor
(c) Finance Secretary
(d) Finance Minister

2. If a customer does not get a satisfactory response to his grievance from the bank within _____ days, then he can approach the Banking Ombudsman.
(a) 60
(b) 90
(c) 30
(d) 15

3. Which of the following organizations is the Mutual Fund Market regulator?
(a) AMFI
(b) SEBI
(c) CIBIL
(d) CRISIL

4. Which among the following is an instrument of monetary policy used by the RBI?
(a) Base Rate
(b) PLR
(c) CRR
(d) BPLR

5. ________ is the organization that maintains the borrower’s history in India.
(a) CRISIL
(b) CIBIL
(c) CARE
(d) RBI

6. RBI has directed commercial banks to resolve ATM transaction-related complaints within seven working days. If a commercial bank is unable to do so then it has to pay Rs. ________ per day as compensation.
(a) 50
(b) 100
(c) 200
(d) 225

7. What does the term Open Market Operations refer to?
(a) Selling of equities in the open market
(b) Selling of commodities in the open market
(c) Buying and selling of government securities in the open market
(d) Buying and selling of products in the wholesale market

8. RBI has introduced “Marginal Standing Facility” with the objective of:
(a) Controlling Inflation
(b) Containing instability in long term inter-bank rates
(c) Containing instability in the overnight inter-bank rates
(d) All of the above

9. ________ are the beneficiaries of the “Reverse Mortgage Scheme”.
(a) Government employees
(b) Senior citizens
(c) Unemployed persons
(d) Persons of BPL category

10. RBI was nationalized in the year
(a) 1949
(b) 1952
(c) 1955
(d) 1964

Answers:

1. (c) Finance secretary.

2. (c) 30 days.

3. (b) SEBI is also known as Capital regulator or Mutual funds regulator or Market regulator. SEBI is also created investors protection fund and SEBI is the only organization which regulate the credit rating agencies in India such as CRISIL and CIBIL.

4. (c) CRR (Cash Reserve Ratio)

5. (b) CIBIL: Credit Information Bureau of India Limited. CIBIL is India’s first credit information bureau. Whenever a person apply for new Loans or Credit Card to a Financial Institution, they generate the CIBIL report of the said person or concern to judge the credit worthiness of the person and also to verify existing track record. CIBIL actually maintains the borrower’s history.

6. (b) Rs 100 per day.

7. (c) Open Market Operations. The buying and selling of government securities in the open market in order to expand or contract the amount of money in the banking system.

8. (c) Containing instability in the overnight inter-bank rates

9. (b)Senior citizens

10. (a) 1949