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This set of Modern Banking Multiple Choice Questions & Answers (MCQs) focuses on Modern Banking Set 2
Q1 | Loan designed for people who wish to sell the existing home and purchase and purchaseanother?
- bridge loan
- housing loan
- demand loan
- personal loan
Q2 | The first joint Stock Bank in India?
- idbi
- icici
- imperial bank
- allahabad bank
Q3 | Repayment of an educational loan is deductable u/s_______ of the Income tax Act
- 70
- 80
- 60
- 90
Q4 | BPLR means?
- bench mark prime lending rate
- bench mark primary money lending rate
- bench mark primary loan repayment
- bank primary lending rate
Q5 | Compound interest is calculated by applying?
- ci=p(i+r)n-p
- ci=p(i+r)n
- ci=pnr
- ci=p(i+r)(i+r)n
Q6 | If interest is changed on full amount of loan(principal) throughout the entire tenure of the loanis?
- float rate
- fixed rate
- flat rate
- diminishing rate
Q7 | The borrower repays his loan by way of fixed monthly installments to the bank is called?
- equal month installment
- equally managed
- equated monthly installment
- equated money installment
Q8 | RBI introduced _________ scheme in 1969?
- saa
- village adaptation
- lead bank
- dir
Q9 | ________act as a Consortium leader of the banking institutions in the district?
- lead bank
- social banking
- core banking
- district co-operative bank
Q10 | Who introduced micro credit system in social banking segment?
- geoffery growther of prof.d.r gadgil
- nobel laureate & mohammed yunus
- n.d thiwari
- banking regulation act 1949
Q11 | “Buy now and Pay later” is the motto of a ______.
- atm
- debit card
- credit card
- micr
Q12 | Credit card allow one to buy goods now and pay later called?
- buying on credit
- buying on debit
- cash credit
- cash payment
Q13 | Card issuers, consumers, merchants and payment sever/Service producer are four parties in_________
- cheque truncation
- e -purse
- debit card
- eft
Q14 | Bank all over the world are enter - linked through satellite provided by __________
- psam
- swift
- eft
- neft
Q15 | EFT is also known as
- easy fund transfer
- maintenance fund transfer
- exchange fund transfer
- paperless banking
Q16 | FIRPS stands for
- foreign inward remittance payment scheme
- foreign investment remittance payment scheme
- foreign inward remittance payment system
- foreign investment remittance payment system
Q17 | ____________ is a system that facilitates individuals, firms and corporate to electronically transfer fundsfrom any bank branch to any individual having an account with any other bank branch in the country.
- neft
- eft
- saa
- rtgs
Q18 | In case of non-credit or delay in credit to the beneficiary account, the NEFT of the respectivebank can be contacted to __________
- ecs
- kyc
- cfc
- ifsc
Q19 | ___________ is an alpha-numeric code that uniquely identifies a bank branch participatingNEFT System.
- ifs
- ifsc
- fsc
- rtgs
Q20 | IFTP means _________
- inter-bank finance settlement process
- inter-bank fund transfer process
- inter-bank fund transfer programme
- inter-bank fund transfer payment
Q21 | In RTGS Minimum amount to be remitted is ___________
- rs.1,00,000
- rs.2,00,000
- rs.1,50,000
- rs.50,000
Q22 | In India, RTGS has been implemented on ___________
- 26 march 2004
- 26 march 1998
- 26 march 1994
- 26 march 2002
Q23 | BACS means ________
- bankers automated clearing services
- bankers automatic clearing system
- bankers automatic collection service
- bankers automatic clearance scheme
Q24 | ECS payment ______ code is essential
- micr
- rtgs
- ifsc
- cts
Q25 | MICR is a numeric code that uniquely identifies a bank-branch participating in the ________scheme.
- ifsc credit scheme
- eft credit scheme
- rtgs credit scheme
- ecs credit scheme