Thursday, October 29, 2015

TARGET IBPS PO Mains: RECALLED Banking Set (RRB exams 2015)



QUESTIONS PART 1 -

1. The right of creditor to retain possession of goods and securities of the debtor till creditor’s dues are paid by the debtor is called: Lien

2. When nomination is made by a depositor who is literate, witness is required from how many persons: None. No witness is required for nomination in case of deposit accounts of literates. (For illiterates 2 witnesses are required)

3. What is the rate of interest given by RBI on CRR Balance: Nil

4. Appeal against the award of the Ombudsman can be made by a customer within how many days?30 days from receipt of copy of the award.

5. What is the relationship between a bank and a customer in case of deposit accounts? Debtor and
Creditor

6. If counterfeit notes up to ____ are detected in a single cash deposit in the bank branch, bank is not required to lodge FIR with police. Instead, bank should send a consolidated report and send such notice to police at the end of the month?: 4

7. An account was opened on 24.11.2007 and the cheque book was issued on 30.11.2007. Two cheques dated 18.11.2007 & 26.11.2007 are presented for payment on 08.12.2007. What should the bank do?: The cheques can be passed if otherwise in order.

8. Validity period by reduced to three months by RBI in case of – Cheques, Demand Draft and Pay Order

9. When Pan no. is not given by a person from whose tax is to be deducted at source, how much tax will be deducted by bank from sums payable to him?: 20%

10. A customer has long overdue overdraft of Rs 10000 recoverable from a borrower. The same customer has a saving and current account with the bank. Bank wants to combine the deposit account of a customer with overdue overdraft account of the same customer for recovery of its dues. Bank can do so by exercising right of: Set Off

11. What is the Bank Rate at present : 7.75%

12. A manufacturing unit will be classified as small manufacturing enterprise provided original investment in plant and machinery does not exceed: Rs 5 crore

13. Rate at which RBI lends to a commercial bank against Govt security is called: Repo Rate

14. Rate at which RBI rediscounts bills of commercial banks is called: Bank Rate

15. When a security is hypothecated in favour of the bank, which of the following will happen?: Both ownership and possession remain with the borrower.

16. In Standard assets other than direct agriculture, SME , Commercial Real Estate and Housing Loan at Teaser Rate what is the rate of provision?: 0.4% of outstanding.

17. For calculating working capital requirement of a firm as per Turnover method, these are worked out at ______% of Projected annual sales: 25%.

18. Banks are required to maintain SLR as per: Section 24 of B R Act

19. Which ratio is calculated to ensure firm’s ability to pay interest and instalment of term loan: Debt Service Coverage Ratio.

20. Crop loan given for short duration crop becomes NPA when it is overdue for: 2 crop seasons.

21. Banks can finance a Self Help Group after: 6 months of its formation.

22. Who decides interest rate on Saving Bank Deposits?: Banks themselves.

23. Penalty for delay is _____ per day if information is not furnished within prescribed time under Right to Information (RTI) Act: Rs.250.

24. What is Operational risk?: Risk due to failure or inadequacy of internal system procedure, people.

25. As per Turnover Method for assessing working capital requirements and as suggested by Nayak Committee, length of operating cycle is assumed at: 3 months.

26. In which type of crossing, a holder of a cheque shall not get a better title than that of the transferor: Not negotiable

27. Which of the following is not a material alteration? Converting a bearer cheque to payable to order

28. In case bank’s name other than of drawee bank is written on the face of the cheque without two parallel lines, then it will be treated as what type of crossing?: Special crossing

29. Loan against Life Insurance Policy is granted on the basis of: Surrender Value.


QUESTIONS PART 2 -

1. Total number of Banking Ombudsman in India: 15 

2. Agency which purchases NPA from banks is called: Asset Reconstruction Company 

3. What is guarantee corpus in MUDRA bank or funds allocated for MUDRA: Rs 20,000 crores 

4. Maximum deposit for allocating a locker: 3 year advance rent plus locker breaking charges 

5. Maximum deposit in PPF in a FY: Rs 1,50,000 

6. When a farmer in addition to agriculture is engaged in rearing of farm stock, it is called: Mixed farming 

7. What is full form of USB: Ultra Small branch 

8. Bhartiya Mahila Bank is a – nationalized bank, Gramin bank, Public sector bank, Private Bank: Public Sector Bank 

9. Minimum and maximum period for FCNR(B) accounts: 1 year and 5 year. 

10. In which currency, FCNR(B) can be opened: In any freely convertible foreign currency 

11. What is Deferred Payment Guarantee?: Guarantee issued when payment by applicant of guarantee is to be made in instalments over a period of time. 

12. Target for weaker section loan are ____% of ANBC: 10% 

13. What is the date for final implementation of Basel III?:  31.03.2019 

14. Safe  custody  of  Articles  comes  under  which  act:  Indian Contract Act 

15. Loan to MSME without Collateral : Rs.10.00 Lac 

16. CGTMSE set up by: Govt of India and SIDBI 

17. CGTMSE cover eligible for loan upto: Rs.100.00 Lac 

18. OD in PMJDY account upto: Rs.5,000/- 

19. Post Harvest Loan against Pledge or Hypothecation of crop produce provided for____ months: Loan upto Rs.50.00 Lac period not extending 12 months 

20. Debt Swap meaning: To extend finance to farmers for repayment of loan taken from non-institution lenders

21. Shortfall in PS advance target, amount to be deposited in: RIDF 

22. Minimum deposit to open BSBDA account: NIL 

23. Long duration crop means a crop with crop season of: more than 12 months 

24. Provision on secured Sub Standard Loan: 15% of outstanding 

25. Maximum amount of Claim that can be filed Lok Adalat:  Rs.20.00 Lac 

26. Eligible Amount of suit in DRT: Rs.10.00 Lac & above 

27. Time Limit for registration of equitable mortgage with CERSAI: 30 days from date of deposit of title deeds 

28. Full form of USSD: Unstructured Supplementary Service Data 

29. A housing loan in metro area will be classified as Priority Sector, provided maximum amount of loan is up to _______ and maximum cost of house is up to:  Rs 28 lac; Rs 35 lac. 

30. Personal Accident cover for death and permanent disability in PMJDY: Rs.1.00 Lac 

31. Current ratio indicates: Liquidity of the firm 

32. Networking capital: Current Assets minus Current Liabilities 

33. Under LRS scheme any resident individual can remit abroad upto : $2,50,000 per person per financial year 

34. Monthly consolidated report to Police in case of how many counterfeit notes?: Detected upto 4 piece in a single deposit. 

35. Rate of Interest in Sukanya Samridhi Account for 2015-16: 9.20% 

36. Interest paid by RBI on cash deposit by banks with RBI as CRR requirement: NIL 

37. Net Interest Income is Equal to: Interest received on assets - Interest payments on liabilities 

38. Standby LC is similar to: Bank Guarantee 

39. Pledge is: Bailment of Goods to secure payment of a debt. 

40. If Interest and Principal of FD is Rs.20,000 or above it will be paid: by credit to account or account payee cheque and not in cash. 

41. Differential rate of interest can be paid on fixed deposit if deposit is forRs.1.00 crore and above 

42. When banks purchase Govt Security form RBI, it is called: Reverse Repo 

43. What is incorrect about RTI?: Reason to be mentioned in RTI application

44. BC  agent  uses  which  machine  for  transactions? : Biometric Machine 

45. Minimum Net worth for installing White Label ATMs by a company: Rs.100.00 crore 

46. Premium under PM Jeevan Jyoti Bima Yojna: Rs.330/-p.a. 

47. Premium under PM Suraksha Bima Yojna: Rs.12/-p.a. 

48. Charge of transaction above free transactions while using ATM Card in other bank’s ATM:Rs.20/- per transaction

49. Minimum Lock in period for Tax saver FDR: 5 Years 

50. In which type of charge both possession and ownership are with borrowerHypothecation 

51. Customer day is to be observed on which day of the month: 15th of every month


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