Quest For Clerk Mains: Banking Quiz (Based On Capsule)

1. As per RBI's fifth bi-monthly monetary policy bank rate fixed at _____ ?
Ans. 7.75%

2. A banknote, of which a portion is missing or which is composed of more than two pieces is called _____?

Ans. Mutilated banknote

3. A note which, has become dirty due to usage and also includes a two piece note pasted together wherein both the pieces presented belong to the same note, and form the entire note is called ________?
Ans. Soiled note

4. A Non-Banking Financial Company (NBFC) is a company registered under the Companies Act_______?
Ans. 1956

5. The NBFCs are allowed to accept public deposits for a maximum period of _________?

1.       Ans. 60 months. 

6. As per the RBI instructions, banks have been mandated to resolve customer complaints by re-crediting the customer’s account within how many working days from the date of complaint?

Ans. 7 days

7. SARFAESI Act stands for?

Ans. The Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act

8. Under National Electronic Funds Transfer (NEFT) Scheme, individuals, firms and corporates can electronically transfer funds from any bank branch to any individual, firm or corporate having an account with any other bank branch in the country participating in the Scheme. What is the maximum and minimum limit that one can transfer by using this scheme?

Ans.No Limit either minimum or maximum

9. The RTGS system is primarily meant for large value transactions. The minimum amount to be remitted through RTGS is _______ 
Ans. Rs. 2 lakhs. There is no upper ceiling for RTGS transactions

10. Cheque and demand draft are valid for a period of ____________ ?
Ans. 3 months

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