Showing posts with label Ans keys. Show all posts
Showing posts with label Ans keys. Show all posts

Answer keys to Banking / 01/ 05.07.2014

Answer keys to Banking / 01/ 05.07.2014


1. B. 1st April 1935
2. B. John Hilton Young Commission also 'Royal commission on Indian currency & Finance'
3. A. 01 Jan 1949
4. B. Mumbai
5. d) i, ii & iii only. Banks are free to decide SB rates. Some offer 4%, few 6%.
6. d) i, ii & iii only. Negotiablity means valid transferability of the said instruments. Currency not Negotiable.
7. (A) Reserve Bank of India
8. c) i, ii & iii only
9. d) i only. When you write 'order' on the cheque or delete 'bearer' out of the 2 words mentioned then it becomes order cheque. safe method on issuing chq. Payee can give it to someone else by signing his/her name on backside (officially called endorsement).
10) c) cheque truncation system
11. a) instead of physical cheque, image is transmitted to the drawee bank branch
12. d) i, ii & iv only. RBI has brought unique security features like bar codes, encrypted codes, logos, watermarks, holograms on CTS cheques - they are secure & fraud proof.
13. c) 3 months. All cheques/DD/BC have validity of 3months. Expired cheque is also known as Stale cheque.
14. c) a cheque torn in two or more pieces. It can be paid - after getting confirmation from drawer.
15. (4) Kolkata
16. c) i, ii & iii only
17. d) i, ii & iv only
18. a) True
19. b) to avoid banks being used by unscruplous elements for money laundering
20. d) any person or entity connected with any financial transaction
21. c) to maintain secrecy of a/cs is a legal duty
22. a) i & ii only
23. a) No contract exists from beginning
24. c) 10
25. a) Beyond the powers (Bank can't go beyond the scope of their objects)
26. c) customer & bank after giving due notice
27) d) Sir Osborne Smith
28) c) C D Deshmukh
29) c) Customer service
30) a) resolution of complaints related to banking services through conciliation & mediation
31) d) all of the above i.e. commercial, RRB & scheduled primary co-operative banks
32) c) 12 months
33) d) CGM/GM from RBI
34) d) ii & iii only
35) c) 30 days
36) c) 10 lacs. Award may be actual loss suffered or 10 lacs whichever is lower.
37) b) Voluntary code
38) d) all of these. CPA is applicable to all goods & service providers, private or public.
39) c) i & iv only. CTR= Cash transaction report. STR = Suspicious transaction report.
40) d) i, iii & iv only.
41) d) ii & iv only. Banks should not put restriction on accounts where suspicious transactions are identified.
42) c) i, ii & iii only
43) a) ii only. TDS is not deducted on NRE (non resident external) a/cs also
44) c) 10000/-. Per financial year per branch.
45) d) i, ii & iv only
46) d) 0.01%
47) c) 24 months. No penalty if minimum balance not kept in dormant bank account.
48) c) 3652 crore
49) d) ii, iii & iv only
50) a) an account is not operated for 10 years. Banks are supposed to locate them & properly discharge the balance if party is found... otherwise remit it to the fund - along with interest.
51) a) Term Deposit for a specific period but withdrawable on giving at least one complete banking day's notice
52) d) i, iii & iv only. Banks are now free to give interest shorter duration also (both SB & FD). 'Daily product basis' means banks will have to pay interest on the daily minimum balance in SB a/c.
53) c) i, ii & iii only