Bank Promotion Exam (Scale I to III) - General Banking (Part II) - Super Hot 40 Questions - August 2021

August 1, 2021

Bank Promotion Exam (Scale I to III) - General Banking (Part II) - Super Hot 40 Questions - August 2021

1.FCNR(B) Accounts can be opened in the form of:
a. Current and Savings only
b. Current, Savings and FD Only.
c. FD Only.
d. Current Account only.

2.As per RBI guidelines, for opening Savings account of SHGs, Banks should insist KYC of:
a. KYC verification of all members
b. KYC verification of only the office bearers shall suffice
c. KYC verification of President only
d. None of the above.

3.Under NRLM, the existing defunct SHGs are also eligible for credit if they are revived and continue to be active for a minimum period of __________ 
a. 3 months
b. 6 months
c. 24 months
d. 12 months

4.Under NRLM, Banks should sanction Cash Credit Limit to eligible SHGs with minimum loan of ? 6 lakh to each eligible SHGs for a period of 3 years with a yearly drawing power (DP)
a. ? 6 lakh, 3 years
b. ? 5 lakh, 3 years
c. ? 5 lakh, 5 years
d. ? 6 lakh, 5 years

5.While appraising a Term Loan proposal, you observe that the DSCR is very high. How should you advise the borrower in this case?a. To reduce the profit projection
b. Advise to show the projected sales on lower side
c. To reduce the repayment tenor
d. Any of the above

6.The Balance Sheet of a firm shows the items on Asset Side as: Net Block Rs. 30.00 Lacs, Inventory Rs.90.00 Lacs. Receivables up to 6 months: Rs.20.00 Lacs and beyond 6 months: Rs.10.00 Lacs. Fixed Deposit with Banks Rs.30.00 Lacs out of which Rs.10.00 Lacs are held as margin against Bank Guarantee issued for 3 Years. Income Tax receivables pending since last 3 years against which court case is going on for Rs.10.00 Lacs. The Term Liability is Rs.70.00 Lacs and Total Liability is Rs.190.00 Lacs. Calculate the Current Ratio.

a. 1.08
b. 0.91
c. 1.17
d. None of the above

7.On 1st March 2020 you received a TT from your Correspondent Bank at USA for USD 10000 for credit to customers’ account. The interbank rate is USD 1 = Rs.72.3500/3700. Banks exchange margin is 0.05%. Calculate the amount in INR to be credited into customers’ account
a. Rs.702115/-
b. Rs.723138/-
c. Rs.723500/-
d. Rs.723700/-

8.The rate to be applied while making payment in INR of a foreign Draft issued by your Correspondence Bank will be:
a. TT Selling rate
b. TT Buying rate
c. Bill Buying rate
d. None of the above

9.The limitation period for filing a suit for sale of mortgaged property is :
a. 3 Years from the date of mortgage
b. 12 years from the date of mortgage
c. 12 years from the date of mortgage money becomes due
d. 30 years from the date of mortgage money becomes due

10.The software that consists of all the programmes, languages and documents provided by the manufacturer of the computer is called:
a. Utility Software
b. Application software
c. System Software
d. None of the above

11.If lockers remain un-operated for ________ years, for a high risk customer, Banks should advise the locker holder to either operate the locker or surrender it.
a. More than 3 years
b. More than 2 years
c. More than One year
d. None of the above

12.In case death of a depositor after maturity of his/her Term Deposit, Bank has to pay interest @ _____ from the date of maturity till date of payment.
a. No interest payable
b. At the applicable Term Deposit rate for the period remained with Bank after maturity.
c. At the Rate of interest applicable for the original Term Deposit
d. At Savings deposit interest rate

13.Maximum number of nominations allowed in case of Lockers hired jointly with mode of operation either of survivor is:
a. One
b. Two
c. Nomination not allowed
d. Three

14.As per which section of IT Act, if Principal + Interest payable on Term Deposit is Rs.20000/- or above, the payment should not be made in cash?
a. 184 B
b. 269T
c. 269B
d. 270A

15.As per the minimum financial ratios set by RBI for resolution under COVID related stress other than retail and MSME advances, the minimum average DSCR shall be?
a. 1.50 and above
b. 1.20 and above
c. 1.00 and above
d. 1.25 and above

16.At present, RBI charges Rate of Interest on Ways and Means Advances @
a. Repo Rate
b. Repo Rate + 2%
c. Repo Rate + 1%
d. Bank Rate

17.As per data released by RBI, at end-June 2020, India’s external debt was placed at____
a. US$ 510.00 billion
b. US$ 442.50 billion
c. US$ 490.25 billion
d. US$ 554.50 billion

18.As per the recent amendments in the Foreign Trade Policy 2015-20, the total reward which may be granted to an IEC holder under the Merchandise Exports from India Scheme (MEIS) shall not exceed Rs______per IEC on exports made in the period 01.09.2020 to 31.12.2020.
a. Rs. 5 Crore
b. Rs. 1 Crore
c. Rs. 3 Crore
d. Rs. 2 Crore

19.The central vigilance Commission has decided that this year the Vigilance Awareness Week would be observed from _______
a. 17th October to 25th October, 2020
b. 27th October to 2nd November, 2020
c. 2nd November to 9th November, 2020
d. None of the above

20.Which Bank has become the first Bank in India to implement the document embedding facility with LC / BG messages over SFMS Platform?
a. SBI
b. HDFC Bank
c. IDBI Bank
d. Yes Bank

21.AD Category – I bank may make remittances where import bills have been received directly by the importers from the overseas supplier where the value of import bill does not exceed USD _________
a) 1,00,000
b) 2,00,000
c) 3,00,000
d) 5,00,000

22.NRO Account for a maximum period of ___________ can be opened by a foreign tourist visiting India
a) 6 Months
b) 1 Year
c) 3 Months
d) No such restriction

23.Small businesses with Turnover up to Rs.____________ can opt for composition scheme for GST filing and pay taxes at a fixed rate on the turnover declared.
a) 1.50 crore
b) 1.00 crore
c) 0.40 crore
d) 2.00 crore

24.Sales transactions made in a particular period (Month/Quarter) should be filed through which type of GST Return?a) GSTR-2Ab) GSTR-3c) GSTR-1d) GSTR-2165.The Reserve Bank of India was established on:
a. 1st April 1935
b. 1st April 1934
c. 1st April 1926
d. 31st March 1936

25.The Reserve Bank of India was established on:
a. 1st April 1935
b. 1st April 1934
c. 1st April 1926
d. 31st March 1936

26.Central Office of RBI was initially established at;
a. Mumbai
b. New Delhi
c. Calcutta
d. Chennai

27.Obligation of RBI to transact Government business is given in which act?
a. Section 20 of Banking Regulation Act
b. Section 20 of RBI Act
c. Section 23 of RBI Act
d. Section 24 of Banking Regulation Act

28.Assets of issue department of RBI shall consist of Gold Coin, Gold Bullion, Foreign Securities, rupee coins and rupee securities of which the aggregate value of Gold Coin and Gold Bullion at any time shall not be less than _______
a. Rs.200.00 crores
b. Rs.115.00 crores
c. Rs.125.00 crores
d. Rs. 250.00 crores

29.The Monetary Policy Committee (MPC) constituted by the Central Government under which act?
a. Section 45ZB of RBI Act
b. Section 45ZB of Banking Regulation Act
c. Section 49 of RBI Act
d. Section 42ZA of RBI Act

30.The maximum denomination of coins which can be issued is __________
a. Rs.150/-
b. Rs.300/-
c. Rs.500/-
d. Rs.1000/-

31.As per which act, Banks are required to maintain minimum Statutory Liquidity Ratio as prescribed by RBI?
a. Section 24 of BR Act
b. Section 42 of BR Act
c. Section 24 of RBI Act
d. Section 42 of BR Act

32.As per Section 9 of BR Act, no banking company shall hold any immovable property howsoever acquired, except such as is required for its own use, for any period exceeding ________ years from the acquisition thereof
a. 5 Years
b. 9 Years
c. 7 Years
d. 10 Years

33.As per which act, no banking company shall hold shares in any company, whether as pledgee, mortgagee or absolute owner, of an amount exceeding thirty per cent of the paid-up share capital of that company or thirty per cent of its own paid-up share capital and reserves, whichever is less?
a. Section 19(2) of BR Act
b. Section 19 of RBI Act
c. Section 17(1) of BR Act
d. Section 21 of BR Act

34.Maintenance of CRR by scheduled Commercial Banks with RBI is defined under which act?
a. Section 42(1) of BR Act
b. Section 42(1) of RBI Act
c. Section 45Z of RBI Act
d. Section 47 of BR Act

35.Under which act, RBI issues direction to Banks on Selective Credit Control?
a. Section 35 of BR Act
b. Section 21 of RBI Act
c. Section 21 of BR Act
d. Section 25 of BR Act

36. Which act empowers RBI to conduct to inspection of Banks?
a. Section 35 of BR Act
b. Section 35 of RBI Act
c. Section 21 of BR Act
d. None of the above

37.Reserve Bank to issue directions in respect of stressed assets based on provisions of which act?
a. Section 32 of BR Act
b. Section 29 of RBI Act
c. Section 35B of BR Act
d. Section 35AB of BR Act.

38.RBI has the power to remove any managerial or other persons of a Bank on the basis of which act?
a. Section 36 AB of BR Act
b. Section 36 AA of BR Act
c. Section 36AA of RBI Act
d. Section 37 of BR Act

39.Under which act Central Government in consultation with RBI can frame rules on preservation of various records, books of accounts etc?a. Section 45 ZA of RBI Act
b. Section 45 Z of BR Act
c. Section 45Y of BR Act
d. None of the above

40.The act that Contains rules on return of paid instruments to customers;
a. Section 45Z of NI Act
b. Section 45Z of BR Act
c. Section 45ZA of NI Act
d. Section 45ZA of BR Act

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