Banking Awareness Quiz for IBPS PO / SBI PO 2017

Q1. MICR code is used for- 

(a) Electronic Clearance of Cheques

(b) Electronic Funds Transfer 

(c) Code Banking Solution 

(d) Cheque Truncation Services 

(e) None of the above 

Q2. Islamic Development Bank (IDB) in May 2016 announced to open its first branch in India at- 

(a) Ahmedabad, Gujarat

(b) Lucknow, Uttar Pradesh 

(c) Ajmer, Rajasthan 

(d) Chennai, Tamil Nadu 

(e) Kolkata, West Bengal 

Q3. With reference to the insurance and banking sector, which of the following is the most appropriate explanation of "PIN"? 

(a) Postal Index Number 

(b) Personal Index Number 

(c) Personal Identification Number

(d) Personal Information Number 

(e) Permanent Identification Number

Q4. The rate at which the central bank of a country lends money to commercial banks in the event of any shortfall of funds is called-

(a) Call Rate 

(b) CRR 

(c) Bank Rate 

(d) Repo Rate

(e) SLR

Q5. In a bid to curtail domestic black money flow, the finance ministry has announced that it will be mandatory to furnish permanent account number (PAN) for all transactions above Rs.________ through all payment modes with effect from January 1, 2016. 

(a) Rs. 1 lakh 

(b) Rs. 2 lakh

(c) Rs. 3 lakh 

(d) Rs. 4 lakh 

(e) Rs. 5 lakh 

Q6. Many a time we read in the newspapers that RBI has changed or revised a particular ratio/rate by a few basis points. What is basis point? 

(a) Ten percent of one-hundredth point 

(b) One hundredth of 1%

(c) One hundredth of 10% 

(d) Ten per cent of 1000

(e) None of the above

Q7. Which of the following is NOT a type of cheque issued by an individual? 

(a) Bearer cheque 

(b) Order cheque 

(c) Crossed cheque 

(d) Savings cheque

(e) None of the above

Q8. What is Financial Inclusion? 

(a) To provide a permanent employment to the unemployment 

(b) To provide a 100 days job to all those who are in need of a job 

(c) Delivery of financial services at affordable costs to vast sections of disadvantaged and low-income groups

(d) To ensure that all financial transaction amounting Rs. 5,000/- and above are done through banks. 

(e) None of the above

Q9. Which of the following places in India does not have a stock Exchange? 

(a) Kolkata 

(b) Ahmedabad 

(c) Mumbai 

(d) Udaipur

(e) None of the above

Q10. Which of the following is the name of private sector Bank in India? 

(a) IDBI Bank 

(b) Axis Bank

(c) Corporation Bank 

(d) UCO Bank

(e) Dena Bank

Q11. Which of the following types of companies/organisation issue "ULIP"?

(a) Insurance Companies 

(b) Banks 

(c) NABARD 

(d) RBI

(e) None of the above

Q12. In order to avoid crowding of customers wanting to withdraw cash in the branches, banks have provided many delivery channels. Which of the following is one of the most popular Channels of getting instant hard cash? 

(a) Core Banking Solution 

(b) Pay orders 

(c) Demand Drafts 

(d) Automated Teller Machines

(e) None of the above

Q13. Who amongst the following has suggested to the banks in India to give details of fund transfer to customers via SMS/ E-mails? 

(a) Reserve Bank of India (RBI)

(b) India Bank's Association 

(c) Indian Institute of Banking & Finance 

(d) Securities & Exchange Board of India

(e) None of the above

Q14. Which of the following products launched by most of the banks help farmers in getting instant credit for various agricultural purpose? 

(a) Kisan Credit Card

(b) Personal Loan 

(c) Business Loan 

(d) All of the above 

(e) None of the above

Q15. Which of the following policies of the financial sectors is basically designed to transfer local financial assets into foreign financial asset freely at market determined exchange rates? 

(a) Capital Accounts Convertibility

(b) Financial Deficit Management 

(c) Minimum Support Price 

(d) Special Drawing Rights 

(e) None of the above

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Banking Awareness Quiz for IBPS PO / SBI PO 2017

Q1. In order to attract more foreign exchange the Govt of India decided to allow foreign investment in LLP firms. What is full form of “LLP” as used in this reference?

(a) Local Labour Promotion

(b) Low Labour Projects

(c) Limited Loan Partnership

(d) Longer Liability Partnership

(e) Limited Liability Partnership

Q2. The process by which a life insurance policyholder can transfer all rights, title and interest- under a policy contract to a third person is known as?

(a) Assignment of the policy

(b) Hypothecation of the policy

(c) Reinvestment of the policy

(d) Negotiation of the policy

(e) Nomination of the policy

Q3. Which of the following is the popular name of the norms by which a bank satisfies itself about the customer’s identity and activities?

(a) Basel norms

(b) KYC norms

(c) Service norms

(d) Lending norms

(e) None of the above

Q4. Today, Banks in addition to normal banking services, offer which of the following services? 

(a) Internet Banking

(b) Depository Services

(c) Financial Counseling Services

(d) Only (a) and (b) above

(e) All of the above 

Q5. KYC guidelines followed by the banks have been framed on the recommendations of the?

(a) Ministry of Home Affairs

(b) Ministry of Rural Development

(c) Indian Banks Association

(d) Financial Intelligence Unit

(e) Reserve Bank of India

Q6. As per RBI guidelines, when a counterfeit note is detected at the branch, it should be:

(a) Branded with a stamp “COUNTERFEIT BANKNOTE”

(b) Recorded in a separate register under authentication

(c) Acknowledged in the prescribed format of RBI and issued to the tendered

(d) All of the above

(e) None of the above

Q7. Asset Reconstruction Company is associated with..........?

(a) DICGC

(b) ECGC

(c) NPA

(d) SEBI

(e) None of the above

Q8. Association of National Exchange Members of India (ANMI) is a body consisting of?

(a) Bankers and SEBI

(b) SEBI and IBA

(c) Brokers Operating in the National Exchange

(d) Bankers, SEBI, IBA and RBI

(e) None of the above

Q9. At what stage of opening of bank account is the checking of Politically Exposed Persons (PEP) carried out:

(a) at the first point of customer interaction

(b) at the Account Services Level

(c) at the Central Account Services Level

(d) one month after the account is opened

(e) None of the above

Q10. Authorized Dealers for foreign exchange transactions are appointed by:

(a) Reserve Bank of India

(b) Government of India

(c) Individual Banks

(d) FEDAI

(e) None of the above

Q11. As per the reports, the collection of direct taxes has gone up by about 19% in last few months. Which of the following agencies releases the figures about tax collection?

(a) Central Statistical organisation

(b) Reserve Bank of India 

(c) Department of Income Tax 

(d) Central Board of Direct Taxes

(e) None of the above

Q12. MUDRA Bank will regulate and refinance all Micro-Finance Institutions (MFIs) in India.  What is the full form of 'MUDRA'? 

(a) Micro and Universal Development Refinance Agency 

(b) Micro Units Development and Refinance Agency

(c) Micro-finance Units Development and Regulation Agency 

(d) Micro Units Development and Regulation Agency

(e) None of the above

Q13. What amount of corpus is allocated to set up MUDRA Bank? 

(a) Rs. 20,000 crore

(b) Rs. 25,000 crore

(c) Rs. 3,000 crore

(d) Rs. 3,500 crore

(e) None of the above

Q14. What percentage of Priority Sector Lending (PSL) is being created for Micro Enterprises by March 2017? 

(a) 10 % 

(b) 7.5 %

(c) 8.5 % 

(d) 9.5 % 

(e) None of the above

Q15. MUDRA Bank as a wholly owned subsidiary of which institutions? 

(a) Non-Banking Financial Companies (NBFCs) 

(b) Commercial Banks 

(c) Micro Finance Institutions (MFIs) 

(d) Small Industries Development Bank of India (SIDBI)

(e) None of the above

Solutions

S1. Ans.(e)

S2. Ans.(a)

S3. Ans.(b)

S4. Ans.(e)

S5. Ans.(e)

S6. Ans.(d)

S7. Ans.(c)

S8. Ans.(c)

S9. Ans.(a)

S10. Ans.(a)

S11. Ans.(d)

S12. Ans.(b)

S13. Ans.(a)

S14. Ans.(b)

S15. Ans.(d)

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Banking Awareness Quiz for IBPS PO / SBI PO 2017

Q1. Who was the first Chairman and Managing Director (CMD) of Exim Bank?
(a) Ravneet Kaur
(b) TCA Ranganathan
(c) RC Shah
(d) Kalyan Banerji
(e) Yaduvendra Mathur

Q2. ECGC Ltd. wholly owned by Government of India was set up in ______________ with the objective of promoting exports from the country by providing Credit Risk Insurance and related services for exports.
(a) 1935
(b) 1982
(c) 1964
(d) 1949
(e) 1957

Q3. ECGC is essentially an export promotion organisation, seeking to improve the competitiveness of the Indian exporters by providing them with credit insurance covers. What is the meaning of "G" in ECGC?
(a) Guarantee
(b) General 
(c) Government
(d) Grameen
(e) None of the given options is true

Q4. AIIB is a new multilateral financial institution founded to bring countries together to address the daunting infrastructure needs across Asia. AIIB stands for-
(a) Asian Infrastructure Investment Bureau
(b) Asian Infrastructure Investment Bank
(c) Association Infrastructure Investment Bank 
(d) Asian International Investment Bank 
(e) None of the given options is true

Q5. ICSID is one of the five organisations of the World Bank Group. What is the meaning of "D" in ICSID?
(a) Districts
(b) Division
(c) Development
(d) Disputes
(e) Department

Q6. The World Bank Group consists of how many organisations-
(a) One
(b) Two
(c) Three
(d) Four
(e) Five

Q7. The World Bank is like a cooperative, made up of --------------- member countries. These member countries, or shareholders, are represented by a Board of Governors, who are the ultimate policymakers at the World Bank. 
(a) 189
(b) 193
(c) 159
(d) 173
(e) 187

Q8. Name the agency, which is an agency to provide ‘soft-loans’ to developing countries?
(a) Asian Infrastructure Investment Bank (AIIB)
(b) Organisation of the Petroleum Exporting Countries (OPEC) 
(c) Asian Development Bank (ADB)
(d) World Trade Organization (WTO)
(e) International Development Association (IDA)

Q9. On July 15th, 2014 at the sixth summit in Fortaleza, Brazil the member countries signed the Articles for the New Development Bank (NDB). What is the authorised capital of NDB?
(a) USD 200 billion
(b) USD 300 billion
(c) USD 500 billion
(d) USD 100 billion
(e) None of the given options is true

Q10. The first Board of Governors meeting of the BRICS New Development Bank was held in ____________ on July 7th, 2015 where the Bank formally came into existence as a legal entity. 
(a) Manaus, Brazil
(b) Moscow, Russia
(c) Pretoria, South Africa
(d) New Delhi, India
(e) Beijing, China


ANSWERS :

1. c
2. e
3. a
4. b
5. d
6. e
7. a
8. e
9. d
10.b

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Banking Awareness Quiz for IBPS PO / SBI PO 2017

Q1. Who is the first Governor of RBI? 
(a) C.D.Deshmukh
(b) James Braid Taylor 
(c) Osborne Smith
(d) Raghuram Rajan
(e) None of the given options is true

Q2. Scheduled Banks of India are those banks, which are? 
(a) Included in First Schedule of RBI Act, 1934 
(b) Not included in First Schedule of RBI Act, 1934 
(c) Included in Second Schedule of RBI Act, 1934
(d) Not included in Second Schedule of RBI Act, 1934 
(e) None of the given options is true

Q3. Which is not an Associate Bank of SBI? 
(a) State Bank of Bikaner & Jaipur 
(b) State Bank of Travancore 
(c) State Bank of Mysore 
(d) State Bank of Rajasthan
(e) None of the given options is true

Q4. Which of the following bank is not a private sector bank in India? 
(a) Federal Bank 
(b) Yes Bank 
(c) IndusInd Bank 
(d) UCO Bank
(e) None of the given options is true

Q5. Which private sector bank is recently merged with Kotak Mahindra Bank (KMB)? 
(a) ING Vysya Bank
(b) Karur Vysya Bank 
(c) Lakshmi Vilas Bank 
(d) Jammu and Kashmir Bank
(e) None of the given options is true

Q6. RBI was established (April 1, 1935) under which of the following Acts? 
(a) Reserve Bank of India Act, 1934
(b) Reserve Bank of India Act, 1926 
(c) Banking Regulation Act, 1949 
(d) Negotiable Instrument Act, 1881 
(e) None of the given options is true

Q7. Who was the first Indian governor of RBI? 
(a) Osborne Smith 
(b) C D Desmukh
(c) James Taylor 
(d) Bimal Jalan
(e) None of the given options is true

Q8. In which year RBI was nationalized? 
(a) 1955 
(b) 1949
(c) 1947 
(d) 1980 
(e) None of the given options is true

Q9. Which one of the following rates is not decided by RBI? 
(a) Repo rate 
(b) Base rate
(c) Bank rate 
(d) MSF
(e) None of the given options is true

Q10. Every bank wishing to commence banking business in India is required to obtain a licence from?
(a) Government of India, Ministry of Finance 
(b) Government of India, Company Law Board 
(c) Reserve Bank of India 
(d) Registrar of Companies
(e) None of the given options is true



ANSWERS :

1. c
2. c
3. d
4. d
5. a
6. a
7. b
8. b
9. b
10.c

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Banking Awareness Quiz for IBPS PO / SBI PO 2017

Q1. Which of the following organisation release World Economic Outlook report?
(a) World Bank 
(b) IMF
(c) UNDP
(d) WTO
(e) None of the given options is true

Q2. ICRA, CRISIL and Standard and Poor’s (S&P) are-
(a) Credit rating agencies
(b) NGOs
(c) Financial Institutions 
(d) NBFCs
(e) None of the given options is true

Q3. Which Bank is the Banker to the Indian Government?
(a) Central Bank of India 
(b) Reserve Bank of India
(c) Punjab National Bank
(d) State Bank of India 
(e) None of the given options is true

Q4. “Primary Deficit “refers to?
(a) Gross Fiscal Deficit minus Interest Payments
(b) Budget Deficit minus Interest Payments 
(c) Monetary Deficit minus Interest Payments 
(d) Deficit financing by 91 day ad hoc treasury bills 
(e) None of the given options is true

Q5. Open market operations are mainly used as ______?
(a) A fiscal device which assists Government borrowing 
(b) A monetary measure to regulate quantity of money in circulation and the cash reserves of the commercial banks
(c) A measure to counteract extreme trends in business    
(d) A measure to influence the balance of payments position
(e) None of the given options is true 

Q6. The RBI has given permission for cash withdrawal at “POS terminals”. What is the full form of “POS”?
(a) Permitted on Sale
(b) Potential of Service 
(c) Point of Sale
(d) Permission of Sale 
(e) None of the given options is true

Q7. “Doing Business Report” is prepared by which of the following organisations every year?
(a) Asian Development Bank (ADB)
(b) World Bank 
(c) International Monetary Fund (IMF)
(d) World Trade Organisation (WTO)
(e) None of the given options is true

Q8. “Yen” is the currency of?
(a) China
(b) South Korea 
(c) North Korea 
(d) Japan
(e) None of the given options is true

Q9. Many times we read in financial newspapers/magazines about Systematic Investment Plans (SIPs). SIPs are an investment option also operated in the mode of?
(a) Mutual Funds 
(b) Small Savings Schemes in Post Offices 
(c) National Pension Fund 
(d) National Saving Certificates 
(e) None of the given options is true

Q10. Which of the following apex body and regulators has asked banks to swap customer related information so that the frauds and defaults may be prevented in future?
(a) Bombay Stock Exchange (BSE)
(b) Indian Bank’s Association (IBA)
(c) Securities & Exchange Board of India (SEBI)
(d) Reserve Bank of India (RBI)
(e) None of the given options is true


ANSWERS :

1. b
2. a
3. b
4. a
5. b
6. c
7. b
8. d
9. a
10.d  

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Banking Awareness Quiz for IPPB Scale-I Mains 2016-17

Q1.  What does FSDC stand for?
(a) Financial Security and Development Council 
(b) Financial Stability and Development Council 
(c) Fiscal Security and Development Council 
(d) Fiscal Stability and Development Council
(e) None of the above

Q2. ___________ has been declared the first ‘total banking state’ in India, successfully implementing the total financial inclusion thereby ensuring banking facility to all households. 
(a) Maharashtra             
(b) Kerala    
(c) Himachal Pradesh      
(d) Uttarakhand
(e) Gujarat

Q3. RBI has introduced “Marginal Standing Facility” with the objective of: 
(a) Controlling Inflation 
(b) Containing instability in long term inter-bank rates 
(c) Containing instability in the overnight inter-bank rates
(d) All of the above
(e) None of the above

Q4. _____________ are the beneficiaries of the “Reverse Mortgage Scheme”.
(a) Government employees     
(b) Senior citizens 
(c) Unemployed persons      
(d) Persons of BPL category
(e) None of the above

Q5. RBI was nationalized in the year-
(a) 1949    
(b) 1952    
(c) 1955       
(d) 1964
(e) 1935

Q6. Which of the following is/are associated with the fiscal policy? 
1. Marginal Standing Facility 
2. Devaluation of Currency 
3. Market Stabilization Scheme 
(a) 1 & 2       
(b) Only 3     
(c) 2 & 3      
(d) Only 2
(e) None of the above

Q7. ______ is the percentage of total deposits of a bank which it has to keep with itself in the form of liquid assets. 
(a) Statutory Liquidity Ratio (SLR)    
(b) Cash Reserve Ratio (CRR) 
(c) Statutory Reserve Ratio             
(d) Cash Ratio
(e) Marginal Standing Facility (MSF)

Q8. The exchange rate in India is dependent upon: 
1. Government policy 
2. Demand-supply forces 
3. Monetary policy objectives 
(a) Only 2       
(b) 2 & 3     
(c) 1 & 2    
(d) 1, 2 & 3
(e) None of the above

Q9. Collateralized Borrowing and Lending Obligation (CBLO) is a/an ________.
(a) Money Market Instrument     
(b) Instrument of Monetary Policy  
(c) Type of Risk Cover     
(d) Stock Market Instrument
(e) None of the above

Q10. Often, we read in newspapers that the RBI has changed the Repo rate and the Reverse Repo rate by a few basis points. What is a basis point?
(a) Ten % of one hundredth point    
(b) One hundredth of 1
(c) One tenth of 1%                       
(d) Ten % of 100
(e) None of the above


ANSWERS :

1. b
2. b
3. c
4. b
5. a
6. c
7. a
8. c
9. a
10.b

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Banking Awareness Quiz for IPPB Scale-I Mains 2016-17

Q1. RRB is established in _________.
(a) 5 Oct 1936
(b) 7 Oct 1935
(c) 4 Oct 1965
(d) 2 Oct 1975
(e) None of the above

Q2. Foreign Currency which has a tendency of quick migration is called-
(a) Fiat Currency
(b) Soft Currency
(c) Token Currency
(d) Hot Currency
(e) None of the above

Q3. The banker is under an obligation to take utmost care in keeping secrecy of the details of the customer. However, the obligation of secrecy is not considered essential when
(a) a banker is required to give evidence in the court
(b) there is national emergency and disclosure is essential in the public interest
(c) there are clear proofs of reason to the state and when consent is given by the customer to provide information for the     preparation of balance sheet
(d) All of the above
(e) None of the above

Q4. Which of the following is the Central Bank of the country?
(a) RBI
(b) SBI
(c) RRB 
(d) NABARD
(e) SEBI

Q5. Which of the following is NOT a Govt. sponsored organization?
(a) SIDBI
(b) NABARD
(c) NHB
(d) ICICI Bank
(e) None of the above

Q6. When a corporate entity wishes to raise money from the market it can do that by issuing _________.
(a) Commercial Papers
(b) Treasury Bills
(c) KisanVikas Patra
(d) National Savings Certificates
(e) None of the above

Q7. On the basis of powers drawn mainly in which of the following Acts, RBI regulates and controls the banks in India?
(a) Banking Regulation Act and RBI Act 
(b) RBI Act and Companies Act 
(c) Banking Regulation Act and Companies Act 
(d) Banking Regulation Act, RBI Act and Negotiable Instruments Act 
(e) None of the above

Q8. With reference to a cheque which of the following is the “drawee bank”?
(a) The bank that collects the cheque
(b) The payee's bank
(c) The endorsee's bank
(d) The endorser's bank
(e) The bank upon which the cheque is drawn

Q9. Which of the following is not a party of bill of exchange? 
(a) The drawer
(b) The drawee
(c) The payee
(d) The endorser
(e) None of the above

Q10. Where the time for payment is  not mentioned in a promissory note it is?
(a) invalid instrument 
(b) inchoate instrument 
(c) no payment can be demanded 
(d) payable on demand
(e) None of the above

Q11. Bank Rate is __________
(a) Rate at which commercial banks borrow long term funds from central Bank.
(b) Rate at which commercial banks borrow short term funds from central Bank.
(c) Currently Bank rate is 6.75%
(d) Both (a) and (c)
(e) None of the above

Q12. In which year Public Debt Act was passed?
(a) 1938
(b) 1940
(c) 1944
(d) 1948
(e) None of the above

Q13. Non-Agricultural Market Access (NAMA) word is related to which organization?
(a) WTO
(b) UNCTAD
(c) IMF
(d) World Bank
(e) NDB

Q14. SEBI is related to _________.
(a) Bank 
(b) Government of India
(c) Share Market
(d) State Government
(e) None of the above

Q15. “Micro Credit” means?
I. Loan of very small amount 
II. Loans to Corporate Sector
III. Loans amounting Rs 50 lakhs to Rs 5 crores to Medium and small Industries Units 
(a) Only (I)
(b) Only (II)
(c) Only (I) and (II)
(d) All of the above 
(e) None of the above 


ANSWERS :

1. d
2. d
3. d
4. a
5. d
6. a
7. a
8. e
9. d
10.d
11.d
12.c
13.a
14.c
15.a

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Banking Awareness Quiz for RBI Assistant Mains 2016-17

Q1. We have read in the newspapers that the Government of India has signed a DTAA to broaden the scope of article of exchange of information to include exchange of banking information. What does DTAA stand for?
(a) Double taxation article agreement
(b) Double taxation avoidance agreement
(c) Double taxation avoidance arrangements
(d) Dual tax agreement arrangement
(e) None of the above

Q2. Which of the statements mentioned below is/are correct?
1. T-bills are issued by the Government of India on behalf of the RBI
2. T-bills are short-term money market instruments
3. T-bills cannot be purchased by a resident of India
(a) All are correct        
(b) 2 & 3 are correct
(c) Only 2 is correct   
(d) Only 3 is correct
(e) None of the above

Q3. What purpose does the MICR number, which is present on a cheque, serve?
(a) It is used to identify the genuineness of the cheque
(b) It is used to identify the bank branch
(c) It is nothing but a type of cheque number
(d) Both (a) and (b)
(e) None of the above

Q4. In TRIPS, what does ‘I’ stand for?
(a) Intellectual     
(b) Information    
(c) Indian       
(d) Infra 
(e) International

Q5. Insurance companies use the bank sales channels to sell their products. Which of the following terms describes this selling process?
(a) Scheduled banking      
(b) Scheduled Insurance 
(c) Bankinsuring                
(d) Bancassurance 
(e) None of the above

Q6. Which of the following acts is useful in controlling HAWALA transactions?
(a) FEMA Act     
(b) RBI Act    
(c) DICGC Act     
(d) Banking Regulation Act
(e) None of the above

Q7. What does the term SME stand for? 
(a) Small and Micro Enterprises      
(b) Small and Medium Enterprises
(c) State and Medium Economy    
(d) Small and Medium Economy
(e) None of the above

Q8. CAMELS’ is a type of Bank Rating System. In CAMELS, what does ‘C’ stand for?
(a) Currency                
(b) Compensation
(c) Capital Adequacy     
(d) Capitalisation
(e) None of the above

Q9. In banking parlance, ‘NPA’ stands for?
(a) Non Performing Asset     
(b) Net Producing Asset
(c) Net Performing Asset     
(d) Not Promoting Asset
(e) None of the above

Q10. LAF is an indirect instrument of monetary policy, which is used by RBI to regulate the liquidity in banking system. ‘LAF’ stands for-
(a) Liquidity Adjustment Facility   
(b) Liquidity Account Facility
(c) Liquidity Allotment Facility       
(d) Long Adjustment Feature
(e) None of the above

Q11. Often, we read in the newspapers that several Indian companies are taking the FCCB route to raise capital. What does the term FCCB stand for? 
(a) Foreign Currency Convertible Bond     
(b) Foreign Convertible Credit Bond
(c) Financial Consortium and Credit Bureau 
(d) Future Credit and Currency Bureau 
(e) None of the above

Q12.  _____________ are NOT a part of the Scheduled Banking structure in India. 
(a) Money lenders            
(b) Public sector banks 
(c) Private sector banks 
(d) Regional rural banks 
(e) None of the above

Q13. ‘MAT’ is an acronym which stands for-
(a) Maximum Alternate Tax     
(b) Minimum Alternate Tax
(c) Minimum Affordable Tax     
(d) Maximum Affordable Tax 
(e) None of the above

Q14. DEPB (Duty Entitled Passbook) scheme which ended in September 2011 was related to-
(a) Foreign direct investment     
(b) Foreign institutional investment
(c) Export promotion               
(d) Import substitution
(e) None of the above

Q15. ‘KYC’ (Know Your Customer) norms were implemented in the Indian banking system in 2002 as per the directive of?
(a) SEBI        
(b) RBI  
(c) IBA         
(d) IRDA
(e) None of the above


ANSWERS :

1. b
2. c
3. d
4. a
5. d
6. a
7. b
8. c
9. a
10.a
11.a
12.a
13.b
14.c
15.b

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