Banks Special - Banking Awareness
1. In case of dishonour of cheques on financial grounds, the holder is required to issue notice to the drawer within ________ days to claim remedy under section 138 of NI Act?
Ans. 30 days
2. National Payment Corporation of India (NPCI) has set up payment network to enable the member banks to issue Domestic Payment Cards with a brand________
Ans. RuPay
3. Permanent Account Number(PAN) is mandatory for
A) Bank transactions of Rs. 50,000/-& above
B) Purchase and sale of shares/debentures/bonds of Rs.50,000/-&above
C) Purchase and sale of immovable property where the value of the property is Rs.5lakh above
D) All of the above
Ans. D
4. High Debt Service Coverage Ratio (DSCR) indicates
Ans. Able to meet payment of installments comfortably
5. Which of the following statement is not true with regard to Capital Gains Peposit Scheme?
A) Income Tax Assess who are eligible for exemption under section 54 of the IT Act are alone can open account with Banks
B) Accounts can be opened nder Savings,Fixed and Term Deposits
C) Cheque book can be issued to eligible accounts
D) None
Ans. C
6. Which of the following statement is not correct with regard to Tax Saver Scheme of Banks?
A) Tax exemption is available for the deposit amount under section 80C of IT Act
B) Period of deposit s allowed up to 5 years
C) Maximum amount of deposit allowed is Rs.5 lakhs
D) B&C
Ans. C
7. Financial statements includes
A) Balance Sheet
B) P & L
C) Cash & Funds Flow
D) A,B&C
Ans. D
8. Banks are permitted to take over borrowal accounts from other Banks & Financial insitutions provided
A) Account should be Standard Asset with positive net worth
B) Copy of the borrowal account for preceding 12 months is to be obtained
C) P&C report is to be obtained from other bank before disbursement
D) Branch to take approval from next sanctioning authority
E) All of the above
Ans. E
9. RBI extending incentives to Banks for the following services
A) Adjudication of Mutilated Bank Notes
B) Exchange of Soiled Notes
C) Distribution of coins over the counter
D) Establishment of Coin vending Machines
E) All of the above
Ans. E
10. Which agency is enabling th etransfer of subsides directly to benificiary accounts through Aadhar Enabled Payment Bridge(APB)?
Ans. NPCI
1. In case of dishonour of cheques on financial grounds, the holder is required to issue notice to the drawer within ________ days to claim remedy under section 138 of NI Act?
Ans. 30 days
2. National Payment Corporation of India (NPCI) has set up payment network to enable the member banks to issue Domestic Payment Cards with a brand________
Ans. RuPay
3. Permanent Account Number(PAN) is mandatory for
A) Bank transactions of Rs. 50,000/-& above
B) Purchase and sale of shares/debentures/bonds of Rs.50,000/-&above
C) Purchase and sale of immovable property where the value of the property is Rs.5lakh above
D) All of the above
Ans. D
4. High Debt Service Coverage Ratio (DSCR) indicates
Ans. Able to meet payment of installments comfortably
5. Which of the following statement is not true with regard to Capital Gains Peposit Scheme?
A) Income Tax Assess who are eligible for exemption under section 54 of the IT Act are alone can open account with Banks
B) Accounts can be opened nder Savings,Fixed and Term Deposits
C) Cheque book can be issued to eligible accounts
D) None
Ans. C
6. Which of the following statement is not correct with regard to Tax Saver Scheme of Banks?
A) Tax exemption is available for the deposit amount under section 80C of IT Act
B) Period of deposit s allowed up to 5 years
C) Maximum amount of deposit allowed is Rs.5 lakhs
D) B&C
Ans. C
7. Financial statements includes
A) Balance Sheet
B) P & L
C) Cash & Funds Flow
D) A,B&C
Ans. D
8. Banks are permitted to take over borrowal accounts from other Banks & Financial insitutions provided
A) Account should be Standard Asset with positive net worth
B) Copy of the borrowal account for preceding 12 months is to be obtained
C) P&C report is to be obtained from other bank before disbursement
D) Branch to take approval from next sanctioning authority
E) All of the above
Ans. E
9. RBI extending incentives to Banks for the following services
A) Adjudication of Mutilated Bank Notes
B) Exchange of Soiled Notes
C) Distribution of coins over the counter
D) Establishment of Coin vending Machines
E) All of the above
Ans. E
10. Which agency is enabling th etransfer of subsides directly to benificiary accounts through Aadhar Enabled Payment Bridge(APB)?
Ans. NPCI
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