Banking Awareness MCQs for Banking exams, IBPS, SBI

31

A cheque is considered as stale when if has been in circulation for

A) More than forty eight hours B) More than one year C) More than six months unless otherwise specified D) More than three months

Discuss

Answer & Solution

Answer: Option D

No explanation is given for this question. Let's Discuss on Board

32

Where the signature of the drawer of a cheque is not genuine , such a cheque is called

A) Post dated cheque B) Stale cheque C) Forged cheque D) All of the above

Discuss

Answer & Solution

Answer: Option C

No explanation is given for this question. Let's Discuss on Board

33

Who decided on the quantity of coins to be minted?

A) The Government of India B) RBI C) Either 1 or 2 D) All of the above

Discuss

Answer & Solution

Answer: Option A

No explanation is given for this question. Let's Discuss on Board

34

Which of the following methods is currently used in India to issue note?

A) Fixed Fiduciary System B) Maximum Fiduciary System C) Percentage Reserve System D) Minimum Reserve System

Discuss

Answer & Solution

Answer: Option D

No explanation is given for this question. Let's Discuss on Board

35

On march 1,1992, Reserve Bank of India announced a new system of exchange rates known as

A) Partial convertibility B) Liberalized exchange rate system C) Both A and B D) None of these

Discuss

Answer & Solution

Answer: Option C

No explanation is given for this question. Let's Discuss on Board

36

Which of the following statements is correct about soiled/mutilated note?

A) All banks are authorized to accept soiled notes across their counters and pay the exchange vale B) All public senor bank branches and currency chest branches of private sector banks are authorised to adjudicate and pay value in respect of mutilated notes C) The RBI has also authorised all Commercial Bank branches to treat certain notes in ‘two pieces’ as soiled notes and pay exchange value D) All of the above

Discuss

Answer & Solution

Answer: Option D

No explanation is given for this question. Let's Discuss on Board

37

For issuing notes, RBI has required to hold the minimum reserve of Rs. 200 crore of which not lesss than Rs. ______ crore to be hold in gold.

A) 85 B) 100 C) 115 D) 125

Discuss

Answer & Solution

Answer: Option C

No explanation is given for this question. Let's Discuss on Board

38

Under which Section of the Reserve Bank of India Act, the Reserve Bank has the sole right of note issue?

A) 20 B) 22 C) 25 D) 28

Discuss

Answer & Solution

Answer: Option B

No explanation is given for this question. Let's Discuss on Board

39

At present, the RBI issue notes in the denominations of Rs.

A) 1, 2, 5, 10, 20, 50, 100 and 500 B) 1, 2, 5, 10, 20, 50, 500 and 1000 C) 2, 5, 10, 20, 50, 100, 500 and 1000 D) 2, 5, 10, 20, 50, 100, 1000 and 10000

Discuss

Answer & Solution

Answer: Option C

No explanation is given for this question. Let's Discuss on Board

40

The one-rupee note bears the signature of ____________.

A) RBI Governor B) Deputy Governor C) Finance Secretary D) Finance Minister

Discuss

Answer & Solution

Answer: Option C

No explanation is given for this question. Let's Discuss on Board