Banking Awareness Quiz 2016 - Set 6

Hello and welcome to ExamPundit. Here is the 6th Set of Banking Awareness Quiz 2016.

1. The Retirement fund body EPFO has made UAN mandatory for all employers covered under its purview. Expand the term UAN.
1) Unique Account Number
2) Unique Access Number
3) Universal Account Number
4) Universal Access Number
5) None of these

2. If the RBI increases reverse repo rate, consequently
1) banks will have less money to lend
2) banks will have more money to lend
3) banks will decrease interest rates
4) liquidity in the economy will increase
5) None of these

3. The banks now allow minors above 10 years to independently open and operate savings bank accounts. These minors cannot avail which of the following services?
1) Internet banking
2) ATM
3) Debit card
4) Cheque book
5) None of these

4. In case of ‘small accounts’ opened with banks, total credits in one year should not exceed
1) Rs.25,000
2) Rs.50,000
3) Rs.75,000
4) Rs.1,00,000
5) Rs.2,00,000

5. Which of the following is the mildest form of inflation in which prices rise by not more than 3 per cent per annum?
1) Walking inflation
2) Creeping inflation
3) Running inflation
4) Hyper inflation
5) None of these

6. Which of the following does NOT come under the RBI’s qualitative measure of credit control?
1) Moral Suasion
2) SLR
3) CRR
4) Open Market Operations
5) Bank Rate

7. Which of the following banks introduced Internet banking in India for the first time?
1) State Bank of India
2) ICICI Bank
3) HDFC Bank
4) Axis Bank
5) Bank of Baroda

8. There are two parts of banks’ balance sheet – assets and liabilities. The assets, everything that the bank owns or is owed, does not include
1) cash in its vaults
2) bank branch buildings
3) govt bonds
4) loans made by the bank
5) None of these

9. In the field of banking, which of the following transactions done through a mobile device will be termed as mobile banking?
1) Loan application
2) Cheque book request
3) Balance inquiry
4) Fund transfer
5) All the above

10. An interest rate that is allowed to move up and down with the rest of the market or along with an index over the duration of the debt obligation is called
1) fixed interest rate
2) floating interest rate
3) forward interest rate
4) future interest rate
5) functional interest rate

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