This quiz works best with JavaScript enabled. Home > Indian Economy > Banking > Indian Banking System And Capital Market – Quiz 5 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Indian Banking System And Capital Market Quiz 5 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Co-operative societies act was passed in ..... A) 1903. B) 1906. C) 1912. D) 1913. Show Answer Correct Answer: C) 1912. 2. What is the purpose of the signature line on a cheque? A) To write the amount in words. B) To authorize the payment. C) To mention the payee's name. D) To provide the payer's contact information. Show Answer Correct Answer: B) To authorize the payment. 3. NABARD stands for ..... A) National Bank for Agriculture and Rural Development. B) National Bank for Reconstruction and Development. C) Nominal Area Bank for Agriculture. D) National Bank for Rural Development. Show Answer Correct Answer: A) National Bank for Agriculture and Rural Development. 4. Which type of banking system focuses on expansion through branches? A) Internet Banking. B) Unit Banking. C) Branch Banking. D) Consumer Banking. Show Answer Correct Answer: C) Branch Banking. 5. Positive pay feature is enabled on all cheques for values of ..... and above? A) 50, 000. B) 1, 00, 000. C) 1, 00, 000. D) 10, 00, 000. Show Answer Correct Answer: A) 50, 000. 6. Cooperative Banks that fall under the banking regulation act 1949 are controlled by A) NABARD. B) National Cooperative Union of India. C) Reserve Bank of India. D) SBI. Show Answer Correct Answer: C) Reserve Bank of India. 7. Union Bank was Established on A) 19.11.1919. B) 19.11.1911. C) 11.11.1919. D) 11.09.1919. Show Answer Correct Answer: C) 11.11.1919. 8. Which of the following best defines the term 'Letter of Credit' as used frequently in bank transactions? [SBI PO 1991] A) An order from a bank to another bank abroad authorising the payment of a particular amount to a person named in the letter. B) An unconditional undertaking given by a bank ensuring the payment of a particular amount to the drawee at a given date. C) Letter by a bank to a person stating the terms and conditions of the loan sanctioned to him by the bank. D) Statement showing outstanding"- deposits and credits of a bank for a particular period. Show Answer Correct Answer: C) Letter by a bank to a person stating the terms and conditions of the loan sanctioned to him by the bank. 9. Bank rate is decided by which of the following? A) Reserve Bank of India. B) Government of India. C) State bank of India. D) SEBI. Show Answer Correct Answer: A) Reserve Bank of India. 10. What is the theme for the fifth cohort of regulatory sandbox? A) Retail payments. B) Cross-border payments. C) Prevention of financial frauds. D) It is theme neutral. Show Answer Correct Answer: D) It is theme neutral. 11. A dealer in a city buys some goods worth Rs. 6000 from the same city. If the rate of GST is 18%, find how much will the dealer pay for the goods bought. A) Rs. 6080. B) Rs. 6050. C) Rs. 7050. D) Rs. 7080. Show Answer Correct Answer: D) Rs. 7080. 12. Word Bull and Big are associated with which branch of commercial activity? [UP PCS 2002] A) Foreign Trade. B) Banking. C) Share Market. D) Manufacturing. Show Answer Correct Answer: C) Share Market. 13. Which among the following is not true about the UPI-PayNow linkage? A) It was the first such linkage to include participation from non-banking financial companies (NBFCs) in the world. B) It is a cross-border linkage between India's Unified Payments Interface (UPI) and Singapore's PayNow. C) An Indian user can remit up to INR 60, 000 in a day. D) Person to Person (P2P) remittances are not permitted under the linkage. Show Answer Correct Answer: D) Person to Person (P2P) remittances are not permitted under the linkage. 14. The strength of economy of any country basically depends on a sound and ..... banking system. A) Emerging. B) Financial. C) Solvent. D) Strengthened. Show Answer Correct Answer: C) Solvent. 15. GNPfc = NNPmp +..... $-$ A) Denied. B) Indirect Tax. C) Depreciation. D) Subsidy. Show Answer Correct Answer: C) Depreciation. 16. Employees are eligible to acquire maximum of ..... houses in their entire career in the bank by availing loan under IHLS A) 1. B) 2. C) 3. D) 5. Show Answer Correct Answer: B) 2. 17. Which of the following is incorrect about Union Monthly Plus? A) Product code is 380. B) Loan facility available is up to 80% of deposit amount. C) Scheme Code is RDFLX. D) The menu for account opening is FOAAC. Show Answer Correct Answer: B) Loan facility available is up to 80% of deposit amount. 18. What is the minimum amount required for cash remittance with one armed guard? A) 20 lakh. B) 50 lakh. C) 2 crore. D) 5 crore. Show Answer Correct Answer: B) 50 lakh. 19. Which is the largest commercial bank in India? A) Bank of India. B) Axis Bank. C) SBI. D) HDFC. Show Answer Correct Answer: D) HDFC. 20. State whether the given statement will be included in estimating the Domestic income:-Profit earned by Indian Employees working in the Japanese Embassy in India A) Yes. B) No. C) Both (a) and (b). D) None of these. Show Answer Correct Answer: B) No. ← PreviousNext →Related QuizzesIndian Economy QuizzesIndian Banking System And Capital Market Quiz 1Indian Banking System And Capital Market Quiz 2Indian Banking System And Capital Market Quiz 3Indian Banking System And Capital Market Quiz 4Indian Banking System And Capital Market Quiz 6Indian Banking System And Capital Market Quiz 7Indian Banking System And Capital Market Quiz 8Indian Banking System And Capital Market Quiz 9Indian Banking System And Capital Market Quiz 10 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books