Q 1. What will happen if there is an increase in Cash Reserve Ratio (CRR)?
A. Their will be a decrease in lendable resources
Q 2. Why Reserve Bank of India (RBI) also known as lender of last resort?
A. As RBI is also known as Banker of Banks, it provides emergency advances to the banks during the time of crisis.
Q 3. Whenever a bank returns a cheque unpaid, then what that cheque is called?
A. Dishonour Cheque
Q 4. Which is the third largest public sector bank of India?
A. Punjab National Bank (PNB), whereas Bank of Broda stood 2nd and SBI on 1st position.
Q 5. What does ASBA stands for?
A. Application Supported by Blocked Amount
Q 6. In which year RBI announced Banking Ombudsman scheme?
A. 1995
Q 7. What is the percentage of Foreign Direct Investment (FDI) in private sector banks?
A. 74%
Q 8. How many directors are associated with reserve Bank of India?
A. 20
Q 9. Which policy is adopted by RBI during Inflation?
A. Dear Money Policy
Q 10. What is the main function of World Bank?
A. To promote the growth of international trade
Q 11. Which negotiable instruments can be crossed to banks?
A. Bill of Exchange
Q 12. Which act is associated with problem of Non Performing Assets?
A. Banking Regulation Act, 1949
Q 13. Savings account is also known as?
A. Common man account
Q 14. What are linked accounts?
A. Accounts which are linked together within a same bank fir transferring money electronically.
Q 15. Why banking ombudsman scheme launched?
A. The scheme was announced to resolve customer complaints with the services of banks.
Q 16. Why KYC is launched by RBI?
A. RBI announced Know Your Customer (KYC) to ensure the correct identity of the customer.
Q 17. Goods and Services Tax would replace which tax?
A. Value Added Tax
Q 18. What does FRBM stands for?
A. Fiscal Responsibility and Budget Management
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