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This set of Modern Banking Multiple Choice Questions & Answers (MCQs) focuses on Modern Banking Set 3
Q1 | MICR is a ________ digit code.
- 9
- 11
- 7
- 13
Q2 | CTS was introduced RBI in _________
- february 1995
- january 2006
- july 2004
- february 2008
Q3 | ________ conversion of physical cheque into electronic form for transmission to the payingbank.
- cts
- ecs
- rtgs
- none of the above
Q4 | CORE stands for ________
- central operations of exchange
- centralized online real time exchange
- challenge of real time exchange
- centralized online real time efficiency
Q5 | Banking services that increasingly rest on technology and communication systems is popularlyknown as ___________
- hi-tech banking
- internet banking
- mobile banking
- all the above
Q6 | _________ is also called virtual banking or anywhere banking.
- hi-tech banking
- off shore banking
- internet banking
- none of the above
Q7 | _________ banking implies co-operation among group of banks for various large scale bankingoperations and to enjoy the economics of scale.
- multiple banking
- consortium banking
- mixed banking
- social banking
Q8 | In _______ banking, different banks provide different banking services to a single borrowerwithout having a common arrangement or understanding between the lenders.
- mixed banking
- group banking
- multiple banking
- off-shore banking
Q9 | _______ banking refers to the establishment of banking unite which deal only with foreigncurrency denominated assets & liabilities.
- unit banking
- off-shore banking
- foreign bank
- internet banking
Q10 | Indian banks were nationalised in the year
- 1949
- 1969
- 1959
- 1979
Q11 | Bankers are not only purveyors of money but also an important sense they are
- Consumers
- Manufacturers
- Lenders
- Borrowers
Q12 | Primary functions of a commercial banks are ........... and lending
- Honouring cheques
- Accepting deposits
- Issuing cheques
- Issuing DD
Q13 | The total number of public sector banks in India is
- 14
- 12
- 28
- 22
Q14 | Indian Institute of Bankers is registered as.............
- Trustee
- Association
- Joint Stock Company
- Co-op society
Q15 | The head quarters of National Housing Bank is
- New Delhi
- Mumbai
- Agra
- Hyderaba
Q16 | The Head quarters of Allahabad Bank is
- Allahabad
- Mumbai
- Calcutta
- Delhi
Q17 | The ‘Teller System’ has been introduced by banks to.........
- Canvas more customers
- Make quick payment of cheque
- Clarify enquiries
- Advice customers
Q18 | Money at call and short notice of a bank is ............
- Secured advance
- Bankers second line of advance
- Widely distributed loans
- All the above
Q19 | The terms drawer, drawee and payee are associated with;
- Cheques
- Promissory notes
- Delivery order
- Hundies
Q20 | Where the RBI has no branch the bank which can act as its agent is;
- Any commercial bank
- Any nationalised bank
- SBI
- Indian bank
Q21 | Unless otherwise specified DD or cheques is valid for a period of;
- 6 months
- 1 year
- 3 months
- One month
Q22 | RBI was nationalised in the year
- 1941
- 1949
- 1943
- 1935
Q23 | The drawee of a cheque is always..........
- Customer
- Minor
- Company
- Bank
Q24 | Commercial banks in India was organised as.......
- Sole proprietorship
- Joint stock company
- Partnership
- Joint sector
Q25 | In India ............. banks are nationalised in the year 1969
- 16
- 19
- 14
- 22