1. What is the full form of CVV?
A. Credit Verification Value
B. Currency Verification Variable
C. Customer Verification Value
D. Card Verification Value
E. None of these
2. The selling of life assurance and other insurance products and services by banking institution is known as ____.
A. Insurance cover
B. Bancassurance
C. Protection cover
D.Assurance cover
E. None of these
3. In what denominations Commercial Paper (CP) can be issued?
A. Rs. 1 lakh
B. Rs. 2 lakh
C. Rs. 5 lakh
D. Rs. 10 lakh
E. None of these
4. What is the loan limit for education under priority sector for studies abroad?
A. Rs. 30 lakh
B. Rs. 25 lakh
C. Rs. 20 lakh
D. Rs. 15 lakh
E. Rs. 10 lakh
5. Foreign exchange Reserves in India are kept in the custody of ___.
A. Govt. of India
B. Finance Ministry
C. Reserve Bank of India
D. Overseas Ministry
E. SEBI
6.RBI declared which of the following as Domestic Systemically Important Banks (D- SIBs)?
A. SBI & HDFC
B. SBI & ICICI
C. ICICI & HDFC
D. SBI & BOB
E. SBI & PNB
7.A receipt listed in India and traded in rupees declaring ownership of shares of a foreign company:
A. Indian Depository Receipt (IDR)
B. Commercial Paper
C. Promissory Note
D. Indian Depository Revenue
E. None of these
8. What is the time limit for an asset or loan to be declared as Non-Performing Asset?
A. 30 days
B. 60 days
C. 90 days
D. 120 days
E. 150 days
9. Which among the following statements are correct/s in the context with Payment Banks?
A. The minimum paid-up capital requirement for payments banks is Rs. 100 crore
B. Payment banks will offer both deposits as well as loan products.
C. Payments banks will have to invest in government securities with a maturity of up to 1 year
D. Payments banks can open small savings accounts and accept deposits of up to Rs.1 lakh per individual customer.
(1) A, C, D (2) B, C, D
(3) A, B, C (4) A, B, D
(5) All are true
10. In MCLR, M stands for
A. Marginal
B. Minimum
C. Maximum
D. Means
E. None
ANSWERS WITH EXPLANATION
1.(D) Full form of CVV is - "Card Verification Value" on your credit card or debit card is a 3 digit number on VISA, MasterCard etc.
2. (B) The selling of life assurance and other insurance products and services by banking institution is known as Bancassurance.
3.(C) Commercial Paper (CP) can be issued in denominations of Rs.5 lakh or multiples thereof. Commercial Paper (CP) is an unsecured money market instrument issued in the form of a promissory note.
4. (C) Loans to individuals for educational purposes including vocational courses upto Rs.10 lakh for studies in India and Rs. 20 lakh for studies abroad are included under priority sector.
5.(C) Foreign exchange Reserves in India are kept in the custody of Reserve Bank of India.
6.(B) The Reserve Bank of India (RBI) recently, designated State Bank of India (SBI) and ICICI Bank Ltd, the country’s two largest lenders, as Domestic Systemically Important Banks (D-SIBs). The banks have been named Domestic Systemically Important Banks (D-SIBs), with SBI falling in bucket three while ICICI Bank is in bucket one.
7.(A) A receipt listed in India and traded in rupees declaring ownership of shares of a foreign company is known as Indian Depository Receipt (IDR)
8.(C) A Non-performing asset (NPA) is defined as a credit facility in respect of which the interest and/or installment of Bond finance principal has remained ‘past due’ for a specified period of time. Once the borrower has failed to make interest or principle payments for 90 days the loan is considered to be a non-performing asset
9.(1) A, C, D The main objective of payment banks is to increase financial inclusion in the country via a primary focus on domestic payments services by providing small savings accounts. Note: Payments banks will be used only for transaction and deposits purposes. Unlike Small banks, payments banks cannot offer loan products to the customers.
10. (A) The marginal cost of funds based lending rate (MCLR) refers to the minimum interest rate of a bank below which it cannot lend, except in some cases allowed by the RBI. It is an internal benchmark or reference rate for the bank. MCLR actually describes the method by which the minimum interest rate for loans is determined by a bank
A. Credit Verification Value
B. Currency Verification Variable
C. Customer Verification Value
D. Card Verification Value
E. None of these
2. The selling of life assurance and other insurance products and services by banking institution is known as ____.
A. Insurance cover
B. Bancassurance
C. Protection cover
D.Assurance cover
E. None of these
3. In what denominations Commercial Paper (CP) can be issued?
A. Rs. 1 lakh
B. Rs. 2 lakh
C. Rs. 5 lakh
D. Rs. 10 lakh
E. None of these
4. What is the loan limit for education under priority sector for studies abroad?
A. Rs. 30 lakh
B. Rs. 25 lakh
C. Rs. 20 lakh
D. Rs. 15 lakh
E. Rs. 10 lakh
5. Foreign exchange Reserves in India are kept in the custody of ___.
A. Govt. of India
B. Finance Ministry
C. Reserve Bank of India
D. Overseas Ministry
E. SEBI
6.RBI declared which of the following as Domestic Systemically Important Banks (D- SIBs)?
A. SBI & HDFC
B. SBI & ICICI
C. ICICI & HDFC
D. SBI & BOB
E. SBI & PNB
7.A receipt listed in India and traded in rupees declaring ownership of shares of a foreign company:
A. Indian Depository Receipt (IDR)
B. Commercial Paper
C. Promissory Note
D. Indian Depository Revenue
E. None of these
8. What is the time limit for an asset or loan to be declared as Non-Performing Asset?
A. 30 days
B. 60 days
C. 90 days
D. 120 days
E. 150 days
9. Which among the following statements are correct/s in the context with Payment Banks?
A. The minimum paid-up capital requirement for payments banks is Rs. 100 crore
B. Payment banks will offer both deposits as well as loan products.
C. Payments banks will have to invest in government securities with a maturity of up to 1 year
D. Payments banks can open small savings accounts and accept deposits of up to Rs.1 lakh per individual customer.
(1) A, C, D (2) B, C, D
(3) A, B, C (4) A, B, D
(5) All are true
10. In MCLR, M stands for
A. Marginal
B. Minimum
C. Maximum
D. Means
E. None
ANSWERS WITH EXPLANATION
1.(D) Full form of CVV is - "Card Verification Value" on your credit card or debit card is a 3 digit number on VISA, MasterCard etc.
2. (B) The selling of life assurance and other insurance products and services by banking institution is known as Bancassurance.
3.(C) Commercial Paper (CP) can be issued in denominations of Rs.5 lakh or multiples thereof. Commercial Paper (CP) is an unsecured money market instrument issued in the form of a promissory note.
4. (C) Loans to individuals for educational purposes including vocational courses upto Rs.10 lakh for studies in India and Rs. 20 lakh for studies abroad are included under priority sector.
5.(C) Foreign exchange Reserves in India are kept in the custody of Reserve Bank of India.
6.(B) The Reserve Bank of India (RBI) recently, designated State Bank of India (SBI) and ICICI Bank Ltd, the country’s two largest lenders, as Domestic Systemically Important Banks (D-SIBs). The banks have been named Domestic Systemically Important Banks (D-SIBs), with SBI falling in bucket three while ICICI Bank is in bucket one.
7.(A) A receipt listed in India and traded in rupees declaring ownership of shares of a foreign company is known as Indian Depository Receipt (IDR)
8.(C) A Non-performing asset (NPA) is defined as a credit facility in respect of which the interest and/or installment of Bond finance principal has remained ‘past due’ for a specified period of time. Once the borrower has failed to make interest or principle payments for 90 days the loan is considered to be a non-performing asset
9.(1) A, C, D The main objective of payment banks is to increase financial inclusion in the country via a primary focus on domestic payments services by providing small savings accounts. Note: Payments banks will be used only for transaction and deposits purposes. Unlike Small banks, payments banks cannot offer loan products to the customers.
10. (A) The marginal cost of funds based lending rate (MCLR) refers to the minimum interest rate of a bank below which it cannot lend, except in some cases allowed by the RBI. It is an internal benchmark or reference rate for the bank. MCLR actually describes the method by which the minimum interest rate for loans is determined by a bank
The MCLR methodology for fixing
interest rates for advances was introduced by the Reserve Bank of India with
effect from April 1, 2016. This new methodology replaces the base rate system
introduced in July 2010.
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