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Banking Quiz Set- 107

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Q1. Small and marginal farmers get special treatment from banks. Who ae these marginal farmers?
(a) Those who have land for cultivation up to 1 acre
(b) They are paid daily wages of Rs. 100/- for working on the land
(c) They have land holdings upto 2 acres
(d) All of the above
(e) None of the given options is true

Q2. MFIs currently operate in 29 States, 4 Union Territories and 588 districts in India. MFIs stands for-
(a) Microfinance Institutions
(b) Microfinance Indian
(c) Medium Institutions
(d) Market Institutions
(e) Microfinance International

Q3. Which of the following is the most essential service for the poor in the country to be reckoned as part of financial inclusion efforts?
(a) Pension payments
(b) Life insurance
(c) No frills accounts
(d) Consumption loans
(e) None of the given options is true

Q4. The concept of self groups is one of the crucial working models for promoting micro finance. What is the basis of this model?
(a) It is linked to the concept of group guarantee
(b) Each member waits for his chance to get the bank loan as per seniority in the group
(c) Such groups prepare their own plan for savings and credit
(d) They work on the principle of sharing their profit among members
(e) None of the given options is true

Q5. Many banks are presently recruiting large numbers of business correspondents in terms of RBI instructions for financial inclusion. Which of the following is not eligible to be appointed as business correspondent?
(a) Bank staff member
(b) Kirana stores
(c) Retired teachers
(d) Ex-servicemen
(e) None of the given options is true

Q6. The concept of ultra small bank branch for promoting financial inclusion in the country has been introduced. How would it be described?
(a) Branch with two staff members
(b) These Branches may be set up between the base branch and BC locations so as to provide support to about 8-10 BC Units at a reasonable distance of 3-4 kilometres
(c) An ATM with cash payment and cash deposit
(d) Branch controlled by gram panchayat
(e) None of the given options is true

Q7. Financial inclusion is a major initiative of RBI. Which of the following is promoting this initiative?
(a) Waiver of agricultural loans
(b) Observing KYC norms strictly
(c) Appointment of business correspondents
(d) Opening of more and more ATMs
(e) None of the given options is true

Q8. Financial literacy programme of RBI is meant to promote which of the following?
(a) For better understanding of banking produts and services
(b) It is meant to stop money laundering
(c) For enabling compliance with KYC norms
(d) All of the above
(e) None of the given options is true

Q9. Financial inclusion is a programme of the government to cover the maximum population with bank accounts. What is the current coverage approx (As on May 2018)?
(a) 25%
(b) 15%
(c) 40%
(d) 65%
(e) 80%

Q10. Kisan credit cards or KCC are an effective way of reaching out to the farmers by the banks. What assistance does the farmer receive in this way?
(a) Credit facility for crops etc. against an approved limit
(b) Short term credit facility against value of his crops
(c) Long term credit is provided against his land holdings
(d) Loan is permissible against crops sold but payment yet to be received by the farmer
(e) None of the given options is true

ANSWER:-
S1. Ans.(c)
S2. Ans.(a)
S3. Ans.(c)
S4. Ans.(a)
S5. Ans.(a)
S6. Ans.(b)
S7. Ans.(c)
S8. Ans.(a)
S9. Ans.(e)
S10. Ans.(a)

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