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Total Questions : 461 | Page 1 of 47 pages
Question 1. BCSBI stands for ...........................
  1.    Banking Codes and Standard Boards of India
  2.    Board Code for Standards in Branches of India
  3.    Board Code for Standards in Banking of India
  4.    Board Centre and Standard Blocks of India
  5.    None of these
 Discuss Question
Answer: Option A. -> Banking Codes and Standard Boards of India
Question 2.

As per KYC Policy, the list of terrorist organizations is supplied to the Banks by the ................. 

  1.    Government of India
  2.    CIBIL
  3.    IBA
  4.    RBI
  5.    SBI
 Discuss Question
Answer: Option D. -> RBI
Question 3.

Head Office of the Asian Development Bank located in ..................

  1.    Jakarta
  2.    Manila
  3.    Nairobi
  4.    Tokyo
  5.    New Delhi
 Discuss Question
Answer: Option B. -> Manila
Question 4. Mutual Funds are required to be registered with .......................
  1.    AMFI
  2.    SEBI
  3.    IBA
  4.    RBI
  5.    UTI
 Discuss Question
Answer: Option B. -> SEBI
Question 5. National Income of India is estimated by .......................
  1.    NSSO
  2.    RBI
  3.    Central Statistical Organization
  4.    Finance Ministry
  5.    None of these
 Discuss Question
Answer: Option C. -> Central Statistical Organization
Question 6.

The type of charge created on LIC Policy is ............................ 

  1.    Pledge
  2.    Hypothecation
  3.    Assignment
  4.    Mortgage
  5.    None of these
 Discuss Question
Answer: Option C. -> Assignment
Assignment is the transfer of ownership rights and interests of one person (assignor) to another person (assignee) in a life insurance policy. The assignor is the original policyholder who originally purchased the life insurance policy and is transferring the rights and interests to the assignee.

Definition of Assignment:

Assignment is a legal process in which a policyholder transfers their rights and interests in a life insurance policy to another person. The assignor is the policyholder who originally purchased the policy and is transferring the rights and interests to the assignee.

Definition of Pledge:

Pledge is a form of security given by a borrower to a lender in order to secure a loan. It is a form of security given by the borrower to the lender in order to secure a loan. The pledge is usually a piece of property, such as a car or house, that the borrower is willing to put up as collateral in order to secure the loan.

Definition of Hypothecation:

Hypothecation is a type of security where a borrower pledges a specific asset as collateral for a loan. The borrower retains ownership of the asset and can use it as they wish, however, the lender has the right to take possession of the asset if the borrower defaults on the loan.

Definition of Mortgage:

Mortgage is a loan secured by property or real estate, in which an individual or entity borrows money from a lender in exchange for a lien on the property or real estate. The lien is a legal claim against the property or real estate, giving the lender the right to take possession of the property if the borrower defaults on the loan.

Therefore, the type of charge created on LIC Policy is Assignment.
Question 7.

Who was the first Governor General of the RBI?

  1.    C. D. Deshmukh
  2.    Sachindra Ray
  3.    S. Mukherjee
  4.    I. G. Patel
  5.    Manmohan Singh
 Discuss Question
Answer: Option A. -> C. D. Deshmukh
Question 8.

Currency Chest is the property of ............................... 

  1.    SBI
  2.    Government of India
  3.    RBI
  4.    CSO
  5.    None of these
 Discuss Question
Answer: Option C. -> RBI
Currency Chest is a repository of the Indian banknotes and coins maintained by the Reserve Bank of India (RBI) at certain centres for the purpose of augmenting the resources of the banks, particularly in times of need or in times of emergency. Generally, big public sector banks and some cooperative banks have currency chests.

Detailed Explanation
Definition of Currency Chest:

Currency Chest is a storage facility which acts as a repository of Indian banknotes and coins. It is maintained by the Reserve Bank of India (RBI) and is used to augment the resources of the banks, particularly in times of need or in times of emergency.

Objectives of Currency Chest:

1. To ensure the availability of adequate currency notes and coins to meet the needs of the general public and banks.
2. To maintain the quality of Indian banknotes and coins.
3. To ensure that banknotes and coins are properly distributed to all bank branches in the district.
4. To facilitate the replacement of unfit banknotes and coins with new ones.
5. To provide a safe and secure storage facility for the banknotes and coins held by the banks.

Role of Currency Chest:

1. The currency chest plays a crucial role in supplying sufficient currency notes and coins to the public and to the banks.
2. It also acts as an intermediary between the RBI and the banks, providing the RBI with information on the currency requirements of the banks and facilitating the distribution of currency notes and coins to the banks.
3. It also facilitates the exchange of old and unfit notes with new ones.
4. The currency chest also acts as a clearing house for the exchange of currency notes and coins between the banks.

Ownership of Currency Chest:

The ownership of the currency chest lies with the RBI. The currency chests are operated by the banks on behalf of the RBI and are monitored and supervised by the RBI. The RBI is responsible for the security and safety of the banknotes and coins stored in the currency chests.

Conclusion:
Therefore, it can be concluded that the Currency Chest is the property of the Reserve Bank of India (RBI).
Question 9.

Services associated with banking, insurance and securities are called ...................

  1.    Financial Services
  2.    Banking Services
  3.    Credit Services
  4.    Debt Services
  5.    None of these
 Discuss Question
Answer: Option A. -> Financial Services
Question 10.

The primary relationship between the banker and the customer is that of .......................

  1.    Trustee and beneficiary
  2.    Debtor and creditor
  3.    Principal and agent
  4.    Lessor and lessee
  5.    None of these
 Discuss Question
Answer: Option B. -> Debtor and creditor

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