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Banking Quiz Set- 14

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Q1 What is Reserve Money (RM)?
(a) Currency in circulation with the public
(b) Deposits of some people with RBI
(c) Cash reserves of the banks
(d) Total of the above three options
(e) None of the above

Q2.The tax payers data flows directly from banks to Tax Information Network (TIN). Who maintains TIN?
(a) RBI
(b) National Securities Depository Ltd.
(c) National Securities Defense Ltd.
(d) Enforcement Directorate
(e) None of these

Q3.What is the meaning of ‘I promise to pay’ clause written on notes?
(a) The bank’s obligation to pay the value of banknote does not arise out of a contract but out of statutory
provisions.
(b) The bank’s obligation to pay the value of banknote does arise out of a contract but not out of statutory
provisions.
(c) This obligation is neither due to a contract nor a statutory provision.
(d) It means that to pay you the value, there is sovereign guaranty.
(e) None of these.

Q4. RBI issued its first banknote in Jan 1938 bearing the portrait of George IV. What was its denomination?
(a) Rs. 5
(b) Rs. 10
(c) Rs. 1
(d) Rs. 2

(e) None of these

Q5.Expand CIN with respect to OLTAS.
(a) Challan Identification Number
(b) Challan Identification Notary
(c) Channel Identification Number
(d) Challan Inventory Number
(e) None of these

Q6. Consider these statements:-
Statement I – RBI decides volume and value of banknotes to be printed.
Statement II – RBI decides volume and value of coins to be minted.
(a) Both are true.
(b) Both are false.
(c) Statement I is true, but statement II is false.
(d) Statement I is false, whereas II is true.
(e) None of these.

Q7.To enforce law and order Government of India has many agencies. SFIO is one of them. Expand it.
(a) Serious Fraud Interrogation Office
(b) Serious Fraud Investigation Office
(c) Serious Feud Interrogation Office
(d) Serious Fraud Interrogation Ordinance
(e) None of these.

Q8.Consider these statements:-
Statement I – Other than Rs. 1000 note, the security threads of the banknotes contain the word ‘Bharat’
in Devanagari script and ‘RBI’ alternatively.
Statement II – In Rs. 1000 note, the security thread contains the word ‘Bharat’ in Devanagari script,
‘1000’, and ‘RBI”.

(a) Both are false.
(b) Both are true.
(c) Statement I is true but II is false.
(d) Statement I is false but II is true.
(e) None of these

Q9.Teaser loan are generally given for_________
(a) Home loans
(b) Car loans
(c) Personal loans
(d) Can be given on any loan
(e) None of these

Q10.Which of the following remains at the top of organizational structure of RBI?
(a) Governor
(b) Executive directors
(c) Central board of directors
(d) Chief general manager
(e) Principal chief general manager

 

 

ANSWER:-

1)(d) Total of the above three options
Reserve money = Currency in Circulation + Bankers’ Deposits with RBI + ‘Other’ Deposits with RB

2) (b) National Securities Depository Ltd.
Tax Information Network (TIN) is an initiative by Income Tax Department of India (ITD) for the
modernization of the current system for collection, processing, monitoring and accounting of direct taxes
using information technology.

3) (a) The bank’s obligation to pay the value of banknote does not arise out of a contract but out
of statutory provisions.

4)(a) Rs. 5

5)(a) Challan Identification Number(National Securities Depository Limited (NSDL) provides CIN
(Challan Identification Number)

6)(c) Statement I is true, but statement II is false.

7)b) Serious Fraud Investigation Office( Serious Fraud Investigation Office (SFIO) is a multidisciplinary organisation to investigate serious financial frauds.The organization is having experts from financial sector, capital market, accountancy, forensic audit, taxation, law, information technology, company law, customs and investigation.)

8)(b) Both are true.

9)(a) Home loans( If a bank offers a slightly lower rate in the initial years and higher rate in later years, it is called a teaser loan.Under the ‘teaser loan’ offer a bank charges lower interest rates for the first two or three years and later on from the fourth year the interest rate will automatically get reset to the then prevailing base rates.)

10)(c) Central board of directors

 

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  • Jawahar

    ques 4. King george vi ,it is given iv

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