Banking Awareness Quiz – Set 135

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Welcome to Banking Awareness Quiz in AffairsCloud.com. Here we are creating quiz covering important questions which are common for all the bank exams and other competitive exams.

1. In ‘Small Accounts’ balance in such accounts at any point of time should not exceed ________
   A. Rs.50,000
   B. Rs.1,00,000
   C. Rs.10,000
   D. Rs.25,000
   E. None of these
   
   Answer & Explanation

   A. Rs.50,000
   Explanation:
   In ‘Small Accounts’ balance in such accounts at any point of time should not exceed Rs.50,000
   
   
2. In ‘Small Accounts’ total credits in one year should not exceed ________
   A. Rs.50,000
   B. Rs.1,00,000
   C. Rs.10,000
   D. Rs.25,000
   E. None of these
   
   Answer & Explanation

   B. Rs.1,00,000
   Explanation:
   In ‘Small Accounts’ total credits in one year should not exceed Rs.1,00,000
   
   
3. In ‘Small Accounts’ total withdrawal and transfers in a month should not exceed ______ 
   A. Rs.50,000
   B. Rs.1,00,000
   C. Rs.10,000
   D. Rs.25,000
   E. None of these
   
   Answer & Explanation

   C. Rs.10,000
   Explanation:
   In ‘Small Accounts’ total withdrawal and transfers in a month should not exceed Rs.10,000.
   
   
4. A transfer of money from a migrant worker to their families or other individuals in their home countries is known as _________
   A. Inward Remittance
   B. Foreign Remittance
   C. Commercial banking
   D. Wholesale banking
   E. None of these
   
   Answer & Explanation

   B. Foreign Remittance
   Explanation:
   A transfer of money from a migrant worker to their families or other individuals in their home countries is known as Foreign Remittance
   
   
5. The process of remitting foreign money to a country is called ______
   A. Inward Remittance
   B. Foreign Remittance
   C. Commercial banking
   D. Wholesale banking
   E. None of these
   
   Answer & Explanation

   A. Inward Remittance
   Explanation:
   The process of remitting foreign money to a country is called Inward Remittance.
   
   
6. Which of the following was the first development finance institution established by the Indian government after independence?
   A. PFC
   B. ICRA
   C. IDFC
   D. IFCI
   E. All of these
   
   Answer & Explanation

   D. IFCI
   Explanation:
   Industrial Finance Corporation of India, was the first development finance institution established by the Indian government after independence
   
   
7. Industrial Finance Corporation of India, is an Indian government owned ______
   A. Private Bank
   B. Scheduled Bank
   C. Development Bank
   D. All of these
   E. None of these
   
   Answer & Explanation

   C. Development Bank
   Explanation:
   Industrial Finance Corporation of India, is an Indian government-owned Development Bank.
   
   
8. Which of the following is the type of industrial finance?
   A. Short Term Industrial Finance
   B. Medium Term Industrial Finance
   C. Long Term Industrial Finance
   D. All of these
   E. None of these
   
   Answer & Explanation

   D. All of these
   Explanation:
   Types:
   Short Term Industrial Finance
   Medium Term Industrial Finance
   Long Term Industrial Finance
   
   
9. Short-term industrial finance refers to the funds required for a period of less than ________
   A. 1 year
   B. 2 years
   C. 3 years
   D. 4 years
   E. None of these
   
   Answer & Explanation

   A. 1 year
   Explanation:
   Short-term industrial finance refers to the funds required for a period of less than one year.
   
   
10. Medium-term industrial finance refers to the funds required for a period of one year to ________
    A. 6 years
    B. 2 years
    C. 3 years
    D. 4 years
    E. 5 years
    
    Answer & Explanation

    E. 5 years
    Explanation:
    Medium-term industrial finance refers to the funds required for a period of one year to 5 years