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Banking/Financial Awareness for Canara/Syndicate/SBI & Other Mains Exams

1. Which of the following works is/are done by Credit Information Companies?
(a) Collecting records of an individual’s payments pertaining to loans

(b) Maintaining records of an individual’s payments pertaining to credit cards

(c) Creating Credit Information Reports

(d) All of the Above

(e) None of the given options is true

2. By which rate is the domestic current rate of currency converted into foreign currency?
(a) Bank Rate

(b) CRR

(c) Stock Exchange Rate

(d) Repo Rate

(e) Exchange Rate

3. Fiscal policy is concerned with which of the following?
(a) Public Revenue and Expenditure

(b) Issue of Currency

(c) Export Import

(d) Population Control

(e) Education for all

4. Maximum loan amount to individuals against physical security shares can be _____
(a) 20 lakh

(b) 15 lakh

(c) 25 lakh

(d) 50 lakh

(e) 10 lakh

5. The process by which the central bank of a country controls the supply of money in the economy by exercising its control over interest rates in order to maintain price stability and achieve high economic growth is known as:
(a) Economic Policy

(b) Monetary Policy

(c) Fiscal Policy

(d) Credit Policy

(e) Budgetary Policy

6. Which of the following is the negotiable instrument?
(a) Fixed Deposit of a Bank

(b) Share certificate issued by a PSU

(c) Demand Draft issued by a bank

(d) Debenture of a company

(e) Airway Receipt

7. Bank Holidays are covered by which of the following?
(a) As per the order of the GOI

(b) As per the order of the IBA

(c) Negotiable Instruments Act

(d) RBI Act

(e) None of the given options is true

8. What is the purpose of KYC in banking?
(a) It is used for customer identification

(b) It is used for increasing the CRR of banks

(c) It is used for money laundering

(d) It is used by the central bank to control liquidity

(e) Both (a) and (c)

9. The FATF is an inter-governmental body. FATF stands for-
(a) Financial Action Task Forum

(b) Financial Action Task Fund

(c) Financial Action Time Force

(d) Financial Agency Task Force

(e) Financial Action Task Force

10. Which of the following is correct?
(a) Reserve Bank of India Act, 1935

(b) Reserve Bank of India Act, 1934

(c) Reserve Bank of India Act, 1930

(d) Reserve Bank of India Act, 1921

(e) Reserve Bank of India Act, 1942

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