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Banking Awareness Quiz Set – 38

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Hello Aspirants. 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. It gives the right to retain possession only of goods in respect of which the dues have arisen and not for other dues.
    A. General Lien
    B. Particular Lien
    C. Specific Lien
    D. None of these
    B. Particular Lien
    Explanation:A lien is a right of any one person to retain that, which is in his possession, belonging to another, until certain demands of a person in possession are satisfied.

  2. ___________ can purchase immovable property in India.
    A. NRI
    B. PIO
    C. Both A & B
    D. None of these
    C. Both A & B
    Explanation:Person resident outside India is categorized as Non- Resident Indian (NRI) or a foreign national of Indian Origin (PIO) or a foreign national of non-Indian origin.

  3. NBFCs whose asset size is of __________ or more as per last audited balance sheet are considered as systemically important NBFCs.
    A. Rs.500 Crore
    B. Rs.100 Crore
    C. Rs.400 Crore
    D. Rs.200 Crore
    A. Rs.500 Crore
    Explanation:A non-banking institution which is a company and has principal business of receiving deposits under any scheme or arrangement in one lump sum or in installments by way of contributions or in any other manner, is also a non-banking financial company (Residuary non-banking company).

  4. CSGL account stands for
    A. Connected Subsidiary General Ledger account
    B. Corelated Sub General Ledger account
    C. Composite Subsidiary General Ledger account
    D. Constituents’ Subsidiary General Ledger account
    D. Constituents’ Subsidiary General Ledger account
    Explanation:CSGL, i.e. Constituents’ Subsidiary General Ledger account, means an SGL account opened and maintained with RBI by an agent on behalf of the constituents of such agent, i.e. a second SGL account opened by an agent with the RBI to hold the securities on behalf of their constituents. The constituents are known as the Gilt Account Holders (GAHs).

  5. Bond Ledger Account(BLA) means an account with RBI or an agency bank in which the Government securities are held in a __________ form to the credit of the holder.
    A. materialzied
    B. dematerialized
    C. balanced
    D. None of these

    Explanation:The investor in this case receives a Certificate of Holding or Certificate of Investment from RBI/Agency Banks.
    Dematerialization in short called as ‘demat is the process by which an investor can get physical certificates converted into electronic form maintained in an account with the Depository Participant.

  6. ATS stands for _________.
    A. Applied Tracking System
    B. Application Transferring System
    C. Application Tracking System
    D. Asynchronous Tracking System
    C. Application Tracking System
    Explanation:It is hosted on the public website of the Reserve Bank of India (RBI), which has been developed for members of the public to submit any individual application to RBI and keep track of the status of its disposal thereafter. An application can be any application, addressed to any department of RBI, through which members of the public can apply.

  7. Who decided the limits on cash withdrawal at ATMs and for purchase of goods and services?
    A. Issuer Bank
    B. RBI
    C. Government
    D. SEBI
    A. Issuer Bank
    Explanation:In case of cash withdrawal at other bank’s ATM, there is a limit of Rs 10,000/- per transaction. Cash withdrawal at POS has also been enabled by certain banks wherein, a maximum of Rs.1000/- can be withdrawn daily by using debit cards.

  8. What is the option for a card holder if his complaint is not redressed by the issuer bank within a maximum period of thirty days from the date of his lodging the complaint?
    A. Approach RBI Governor
    B. Approach Banking Ombudsman
    C. Approach Branch Manager
    D. Approach Executive Director
    B. Approach Banking Ombudsman
    Explanation:The Banking Ombudsman is a senior official appointed by the Reserve Bank of India to redress customer complaints against deficiency in certain banking services.

  9. The type of cards that can be used at an ATM/WLA ___________.
    A. Credit Cards
    B. Pre-paid Cards
    C. Debit Cards
    D. All of these
    D. All of these
    Explanation:The ATM/ATM cum debit cards, credit cards and open prepaid cards issued by banks can be used at ATMs/WLAs for various transactions. ATMs set up, owned and operated by non-banks are called White Label ATMs. Non-bank ATM operators are authorized under Payment & Settlement Systems Act, 2007 by the Reserve Bank of India.

  10. An Individual can have _____ number of ‘Basic Savings Bank Deposit Account’ in one bank?
    A. One
    B. Two
    C. Four
    D. Any
    A. One
    Explanation:Holders of ‘Basic Savings Bank Deposit Account’ will not be eligible for opening any other savings bank account in that bank. If a customer has any other existing savings bank account in that bank, he / she will be required to close it within 30 days from the date of opening a ‘Basic Savings Bank Deposit Account’.

  11. Whose signature is found on a 100 rupee currency note in India?
    A. Deputy Governor of RBI
    B. Finance Secretary
    C. RBI Governor
    D. None of these
    C. RBI Governor
    Explanation:Rupee one notes bearing the signature of Secretary, Ministry of Finance while other denominations bearing the signature of the Governor of Reserve Bank of India are Bank Notes.In any INDIAN note there are 15 Languages.