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Banking Quiz Set- 70

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Q1. RBI was established on ___________.
(a) April 1, 1925
(b) April 1, 1935
(c) April 1, 1945
(d) April 1, 1955
(e) None of the above

Q2. Which among the following does the RBI not decide?
(a) CAR
(b) CRR
(c) Base Rate
(d) Bank Rate
(e) None of the above

Q3. What does ‘T’ in RTGS stand for?
(a) Transaction
(b) Transfer
(c) Tax
(d) Time
(e) None of the above

Q4. In banking, IFSC code stands for_________________.
(a) International Format System Code
(b) Indian Function System Code
(c) International Forex System Code
(d) Indian Financial System Code
(e) None of the above

Q5. If a customer does not get a satisfactory response to his grievance from the bank within _____ days, then he can approach the Banking Ombudsman.
(a) 60
(b) 90
(c) 30
(d) 15
(e) None of the above

Q6. Which of the following organizations is the Mutual Fund Market regulator?
(a) AMFI
(b) SEBI
(e) None of the above

Q7. Which of the following statements is incorrect regarding RTGS system?
(a) The transactions take place in real time
(b) The system operates on DNS (Deferred Net Settlement) basis
(c) The minimum amount that can be remitted is Rs. 2 lakh
(d) Service charges for RTGS transactions vary from one bank to another
(e) None of the above are correct

Q8. _____is the organization that maintains the borrower’s history in India.
(c) CARE
(d) RBI
(e) None of the above

Q9. RBI has directed commercial banks to resolve ATM transaction-related complaints within seven working days. If a commercial bank is unable to do so then it has to pay Rs.____ per day as compensation.
(a) 50
(b) 100
(c) 200
(d) 225
(e) None of the above

Q10. RTGS as well as NEFT uses-
(a) UTR Number
(b) MICR
(c) IFSC
(d) DNS
(e) None of the above



1)(b) April 1, 1935

2)(a) CAR   

3)(d) Time

4)(d) Indian Financial System Code

5)(c) 30   

6)(b) SEBI 

7)(b) The system operates on DNS (Deferred Net Settlement) basis

8)(b) CIBIL  

9)(b) 100

10)(c) IFSC 


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