BANKING AWARENESS QUIZ - 3

1. MICR code is used for ___?
A. For Electronic Clearance of Cheques
B. For Electronic Funds Transfer
C. For Code Banking Solution
D. For Cheque Truncation Services
E. None of these


2. The Statutory Liquidity Ratio (SLR), the amount of liquid assets such as cash, precious metals and other short-term securities are kept with:
A. RBI
B. Individual banks
C. Finance Ministry
D. A bank designated by RBI
E. None of these

3. What is the Minimum amount of transfer required for RTGS is _____.
A. Rs. 5 lakh
B. Rs. 2 lakh
C. Rs. 1 lakh
D. No limit
E. None of these

4. What is the name given to Union Finance Ministry’s flagship project which aims at widening the tax base by catching tax evaders using technology?
A. Project Insight
B. Indradhanush
C. Gospel Missions
D. Jan jagran
E. None of these

5. Which of the following is the first North East state to achieve 100 percent success in implementing the Pradhan Mantri Jan Dhan Yojana?
A. Nagaland
B. Tripura
C. Meghalaya
D. Assam
E. None of these

6. A cheque is considered a valid cheque if the date entered on the cheque is within ______of the actual date on which it is presented.
A. 6 months
B. 3 months
C. 9 months
D. 1 months
E. None of these

7. Smart Money’ is a term used for –
A. Internet Banking
B. FDRs in Banks
C. Credit Card
D. Demand Drafts of Banks
E. None of these

8. As per the Banking Ombudsman Scheme, any person can file a complaint before the Banking Ombudsman, if the satisfied reply is not received from the bank within a period of ____.
A. one month
B. three months
C. two months
D. six months
E. None

9. Money lent for more than one day but less than 15 days in the money market is known as:
A. Notice Money
B. Call Money
C. Term Money
D. All of the above
E. None of the above

10. With which of the following is SARFAESI Act 2002 related?
A. Recovery of bad loans
B. Regulation of foreign exchange
C. Fixation of interest rates
D. Acquisition of small banks
E. None of these

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