Banking General Awareness Modern Banking Question Bank

done Practice Questions - Modern Aspects of Banking Total Questions - 44

• question_answer1)
  A 'Debit Card' is issued by a bank to
  A)
   all customers of a bank done clear
  B)
   all customers having savings bank account with a bank done clear
  C)
   all customers having loan account with a bank done clear
  D)
   a bank customer who is income tax assesee done clear
  E)
   all corporate salary account holder done clear
  View Solution play_arrow

• question_answer2)
  Which of the following is the limitation of the ATMs owing to which people are required to visit branches of the bank?

  I. It does not accept deposits.

  II. It has a limited cash disbursement capacity.

  III. Lack of human interface.

  Select the correct answer using the codes given below:
  A)
   Only I                          done clear
  B)
   Only II done clear
  C)
   Only III                        done clear
  D)
   III, II and I done clear
  E)
   None of these done clear
  View Solution play_arrow

• question_answer3)
  Real time gross settlement benefits
  A)
   the customers done clear
  B)
   the banks done clear
  C)
   Reserve Bank of India done clear
  D)
   Both [a] and [b] done clear
  E)
   None of these done clear
  View Solution play_arrow

• question_answer4)
  Which of the following banks has opened the country's first, 'Cash Factory' in Lucknow which will issue currency notes to all its branches and ATM in that area?
  A)
   Bank of India done clear
  B)
   Bank of Baroda done clear
  C)
   State Bank of India done clear
  D)
   Union Bank of India done clear
  E)
   None of these done clear
  View Solution play_arrow

• question_answer5)
  As we all know, more and more countries/ organisations are now going for non- cash transactions and accordingly banks have launched many new products in the market for the same. Which of the following products is a non-cash transaction product?
  A)
   Only ATM Card done clear
  B)
   Only Credit Card done clear
  C)
   Only Prepaid Card done clear
  D)
   Only Debit Card done clear
  E)
   All are non-cash transaction products done clear
  View Solution play_arrow

• question_answer6)
  As we have noticed, banks these days are giving more emphasis on 'Branchless Banking.' What does this really mean?

  I. What does this really mean? Banks will not have many branches as used to be in the good old days. Instead, the number of branches will be restricted and will conduct only a specified" core business.

  II. Banks will launch/operate many delivery channels like ATMs, Mobile Banking/Internet Banking, etc, so that people are not required to visit a branch for their usual banking needs.

  III. This means banks will issue only debit or credit cards for all types of day-to- day financial transactions. Cheques/ cash payments will not be allowed. Select the correct answer using the codes given below:

  A)
   Only I                          done clear
  B)
   Only II done clear
  C)
   I and II                         done clear
  D)
   II and III done clear
  E)
   All of these done clear
  View Solution play_arrow

• question_answer7)
  A-card stores and provides identification authentication, data storage and application processing applications
  A)
   Debit Card                    done clear
  B)
   Smart Card done clear
  C)
   Credit Card                   done clear
  D)
   ATM Card done clear
  E)
   None of these done clear
  View Solution play_arrow

• question_answer8)
  Which of the following is known as Plastic Money?

  I. Demand Draft

  II. Credit Card

  III. Debit Card

  Select the correct answer using the codes given below
  A)
   Only I                          done clear
  B)
   Only II done clear
  C)
   Only III                        done clear
  D)
   Both II and III done clear
  E)
   All of the above done clear
  View Solution play_arrow

• question_answer9)
  Many times we read a term CBS used in banking operations. What is the full form of the letter C in the term 'CBS'?
  A)
   Complete                      done clear
  B)
   Credit done clear
  C)
   Continuous                   done clear
  D)
   Core done clear
  E)
   None of these done clear
  View Solution play_arrow

• question_answer10)
  Which of the following is a leading electronic payment technology firm? (The logo of the firm can be seen printed on credit cards/ ATM centres etc.
  A)
   Visa                             done clear
  B)
   Max done clear
  C)
   BSE                             done clear
  D)
   Sensex done clear
  E)
   SWAP done clear
  View Solution play_arrow

• question_answer11)
  To use smart cards/debit cards/credit cards for the purchase of an item or for payment of a service at a merchant's store/ the card has to be swiped in a terminal known as
  A)
   point of sale terminal done clear
  B)
   real time terminal done clear
  C)
   shopping terminal done clear
  D)
   All of the above done clear
  E)
   None of these done clear
  View Solution play_arrow

• question_answer12)
  Lot of banks in India these days, are offering M-Banking facility to their customers. What is the full form of M in M-Banking?
  A)
   Money                          done clear
  B)
   Marginal done clear
  C)
   Message                        done clear
  D)
   Mutual Fund done clear
  E)
   Mobile done clear
  View Solution play_arrow

• question_answer13)
  All Inter-Bank Funds Transfer System, where funds are transferred as and when the transactions are triggered, is called
  A)
   internet banking done clear
  B)
   mobile banking done clear
  C)
   bill payment service done clear
  D)
   real time gross settlement done clear
  E)
   None of these done clear
  View Solution play_arrow

• question_answer14)
  The money market in India consists of two sectors namely the organised and the unorganised sector. Which of the following do not fall under unorganised sector?
  A)
   RBI, commercial banks and SBI done clear
  B)
   LIC and GIC done clear
  C)
   Unit Trust of India done clear
  D)
   Indigenous banks done clear
  E)
   None of these done clear
  View Solution play_arrow

• question_answer15)
  Currently, banks claim that they have achieved 100% CBS. What are they referring to?
  A)
   It means all their branches are technology driven with core banking solutions done clear
  B)
   It suggests complete banking services done clear
  C)
   It is an indication of customized banking services done clear
  D)
   All of the above done clear
  E)
   None of these done clear
  View Solution play_arrow

• question_answer16)
  As per the notification issued by the banks, the 'third party ATM usage' will now be restricted to certain withdrawals and limits only. What does it really mean?

  I. The ATM card holders will not be able to withdrew from other banks' ATMs under any circumstances.

  II. Customers of one bank may be able to withdraw only a limited amount from other banks' ATMs.

  III. ATM card holders will have to pay a fee if they withdraw money from other banks' ATMs frequently.

  Select the correct answer under the codes given below:
  A)
   Only I                          done clear
  B)
   Only II done clear
  C)
   Only III                        done clear
  D)
   II and III done clear
  E)
   I and III done clear
  View Solution play_arrow

• question_answer17)
  Opening of maximum number of ATMs is an example of
  A)
   indirect marketing           done clear
  B)
   direct marketing done clear
  C)
   social marketing done clear
  D)
   All of these done clear
  E)
   None of these done clear
  View Solution play_arrow

• question_answer18)
  Telebanking service is based on
  A)
   virtual banking   done clear
  B)
   online banking done clear
  C)
   voice banking    done clear
  D)
   core banking done clear
  E)
   None of these done clear
  View Solution play_arrow

• question_answer19)
  The best alternative banking service to branch banking to be the part of financial inclusion?
  A)
   Establishment of small branches done clear
  B)
   Set-up ATMs done clear
  C)
   Issuing of ATM cards done clear
  D)
   Giving credit cards done clear
  E)
   Mobile banking done clear
  View Solution play_arrow

• question_answer20)
  Which of the following is/are the major concepts visible in today's banking industry in India?

  I. Risk-based management

  II. Growing competition

  III. IT initiatives

  Select the correct answer using the codes given below:
  A)
   Only I                          done clear
  B)
   Only II done clear
  C)
   Only III                        done clear
  D)
   I and III done clear
  E)
   All of these done clear
  View Solution play_arrow

• question_answer21)
  E-commerce is increasingly becoming a popular mode of doing business. What is this way of operating?
  A)
   Buying goods and services online from vendors done clear
  B)
   Placing orders on the phones done clear
  C)
   Getting 30 days credit period for payment done clear
  D)
   Payment has to be made in advance before goods/ services are delivered done clear
  E)
   None of these done clear
  View Solution play_arrow

• question_answer22)
  Which is the card that looks like any other plastic card or an ATM card with Integrated Circuit (IC chip)?
  A)
   Member card                 done clear
  B)
   Charge card done clear
  C)
   Credit card                    done clear
  D)
   Smart card done clear
  E)
   None of these done clear
  View Solution play_arrow

• question_answer23)
  'National Financial Switch' has been set- up to facilitate connectivity between the bank's switches and their ATMs and inter- bank payment gateway for authentication and routing the payment details of various e-commerce transactions. Which organisation has set-up this switch?
  A)
   IBRD                              done clear
  B)
   IDRBT done clear
  C)
   SBI                              done clear
  D)
   SIDBI done clear
  E)
   None of these done clear
  View Solution play_arrow

• question_answer24)
  Banks and other institutions have issued debt and credit cards, the purpose of both are
  A)
   the same, to make paperless payments done clear
  B)
   different, since in credit card, the account is credited with the amount while in debit card the account is debited done clear
  C)
   the same, there is risk weight-age of 125% in both the cards. done clear
  D)
   different, since in debit cards interest for delayed period is charged while in credit cards no such interest is charged by banks done clear
  E)
   None of these done clear
  View Solution play_arrow

• question_answer25)
  When we talk of smart money what are we referring to?
  A)
   Foreign currency done clear
  B)
   Internet banking done clear
  C)
   Credit cards                   done clear
  D)
   Treasury bills done clear
  E)
   None of these done clear
  View Solution play_arrow

• question_answer26)
  Which of following is necessary to transfer funds through the RTGS facility?
  A)
   Beneficiary's bank account number done clear
  B)
   The IFSC number of the beneficiary's bank branch done clear
  C)
   There is a minimum amount specified for transfer done clear
  D)
   All of the above done clear
  E)
   None of these done clear
  View Solution play_arrow

• question_answer27)
  In E-commerce what is meant by B2B?
  A)
   It means trade between business to business done clear
  B)
   The deals between business to banks done clear
  C)
   It suggests transactions between banks and capitalists done clear
  D)
   All of the above done clear
  E)
   None of these done clear
  View Solution play_arrow

• question_answer28)
  What is the name given to the online payment services that all internet banking customers can use?
  A)
   E pay                           done clear
  B)
   E-commerce done clear
  C)
   ECS                             done clear
  D)
   All of these done clear
  E)
   None of these done clear
  View Solution play_arrow

• question_answer29)
  'Smart Money' is a term used for
  A)
   internet banking done clear
  B)
   FDRs in banks done clear
  C)
   credit cards done clear
  D)
   demand drafts of banks done clear
  E)
   bank rate done clear
  View Solution play_arrow

• question_answer30)
  RTGS stands for
  A)
   Real Time Gross Settlements done clear
  B)
   Reduced Time Gross Settlements done clear
  C)
   Relative Time Gross Settlements done clear
  D)
   Real Total Gross Securities done clear
  E)
   None of these done clear
  View Solution play_arrow

• question_answer31)
  The ATMs which are set up, owned and operated by non-banks are called
  A)
   White Label ATMs         done clear
  B)
   Brown Label ATMs done clear
  C)
   Blue Label ATMs           done clear
  D)
   None of these done clear
  View Solution play_arrow

• question_answer32)
  Which of the following types of accounts is/are not applicable for free transactions at ATMs?
  A)
   Basic Savings Bank Deposit Accounts done clear
  B)
   Savings Account done clear
  C)
   Current Account done clear
  D)
   Both [a] and [b] done clear
  E)
   None of these done clear
  View Solution play_arrow

• question_answer33)
  What amount does a bank have to pay to customers for delays in re-crediting the amount beyond 7 working days in case of failed ATM transaction?
  A)
   Rs. 100 done clear
  B)
   Rs. 200 done clear
  C)
   Rs. 300 done clear
  D)
   Rs. 500 done clear
  E)
   None of these done clear
  View Solution play_arrow

• question_answer34)
  Which of the following statements is/are correct regarding credit card?

  I. Banks in India can undertake credit card business either departmentally or through a subsidiary company set up for the purpose.

  II. Prior approval of the Reserve Bank is not necessary for banks desirous of undertaking credit card business.

  A)
   I only done clear
  B)
   II only done clear
  C)
   Both I and II done clear
  D)
   None of these done clear
  View Solution play_arrow

• question_answer35)
  Citi-Times card is an example of
  A)
   co-branded cards           done clear
  B)
   debit card done clear
  C)
   smart card                    done clear
  D)
   prepaid card done clear
  E)
   None of these done clear
  View Solution play_arrow

• question_answer36)
  Which of the following statements is/are correct about Kisan Credit Card?

  I. It was introduced in August 1999.

  II. It offers credit in terms of cash credit and term credit.

  A)
   I only              done clear
  B)
   II only done clear
  C)
   Both I and II done clear
  D)
   None of these done clear
  View Solution play_arrow

• question_answer37)
  For credit cards, the MDR varies between
  A)
   1.5-2.5 percent  done clear
  B)
   1.5-2 percent done clear
  C)
   2-2.5 percent                 done clear
  D)
   2-3 percent done clear
  E)
   None of these done clear
  View Solution play_arrow

• question_answer38)
  Electronic Funds Transfer at Point of Sale involves funds transfers based on the use of
  A)
   debit cards done clear
  B)
   credit cards done clear
  C)
   both [a] and [b] done clear
  D)
   None of these done clear
  View Solution play_arrow

• question_answer39)
  Indian Financial System Code is used for
  A)
   National Electronic Funds Transfer done clear
  B)
   Real Time Gross Settlement done clear
  C)
   Centralized Funds Management System done clear
  D)
   All of the above done clear
  E)
   None of these done clear
  View Solution play_arrow

• question_answer40)
  Transferring money between banks for international wire transfers uses
  A)
   SWIFT Codes done clear
  B)
   MICR Codes done clear
  C)
   IFSC Codes done clear
  D)
   None of these done clear
  View Solution play_arrow

• question_answer41)
  Which payment mode is used for making bulk payment of amounts?
  A)
   NEFT                           done clear
  B)
   RTGS done clear
  C)
   IMPS                           done clear
  D)
   ECS Credit done clear
  E)
   None of these done clear
  View Solution play_arrow

• question_answer42)
  National Automated Clearing House (NACH) has been launched for
  A)
   clearing cheques done clear
  B)
   facilitating interbank electronic transactions done clear
  C)
   clearing loans done clear
  D)
   both [a] and [b] done clear
  E)
   None of these done clear
  View Solution play_arrow

• question_answer43)
  Which cryptocurrency has hit its highest level in 3 years following India's demonetisation?
  A)
   Bitcoin                         done clear
  B)
   Rupay done clear
  C)
   USSD                           done clear
  D)
   UPI done clear
  E)
   None of these done clear
  View Solution play_arrow

• question_answer44)
  Block Chain Technology was created by
  A)
   ICICI Bank       done clear
  B)
   HDFC Bank done clear
  C)
   SBI                              done clear
  D)
   Axis Bank done clear
  E)
   None of these done clear
  View Solution play_arrow