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Questions based on RBI Policy---- very useful for SBI PO

answers given in bold letters

Questions based on RBI Policy
01        AD Category – I banks can allow the eligible ECB borrowers to park ECB proceeds             (both under the automatic and approval routes) in term deposits with AD Category – I           banks in India for a maximum period of _____ months pending utilization for permitted        end uses.
            a. One month              b. Two months            c. Three months          d. Six months
            e. None of these
02        In case the minimum balance is not maintained by a customer as per terms finalized at the   time of opening the account, the bank is required to send a notice to the customer to             restore the minimum balance. If it is not restored within a reasonable period, which shall    not be less than ____ from the date of notice of shortfall, penal charges may be recovered        under intimation to the account holder.
            a. 10 days        b. 20 days        c. One month  d. Two months            e. None of these
03        The period of realization and repatriation of export proceeds shall be ____ from the date     of export for all exporters including Units in SEZs, Status Holder Exporters, EQUs, Units   in EHTPs, STPs & BTPs w.e.f.20.11.14:
            a. Six months  b. Nine months           c. Twelve months       d. Fifteen months
            e. None of these
04        Which of the following can be member of joint liability group (JLG)? (1) landless             farmers cultivating land as tenant farmers, oral lessees or share croppers (2) small /             marginal farmers (3) other poor individuals:
            a. 1 to 3 all      b. 1 and 2 only                        c. 2 and 3 only                        d. 1 and 3 only
            e. None of these
05        Which of the following activities can be taken up to form a joint liability group:
            a. Farm activities        b. Off-farm activities             c. Non-farm activities
            d. All the above          e. None of these
06        A Joint Liability Group (JLG) is an informal group comprising of _____ coming together           for the purpose of availing bank loan on individual basis or through group mechanism     against mutual guarantee.
            a. Minimum 5 individuals      b. Between 5 to 15 members  c. Between 4 to 10 members
            d. Between 5 to 10 members  e. None of these
07.       Which of the following criteria is correct for enrolling members of joint liability group 1)          Members should belong to similar socio-economic status, background and environment. 2) The members should be residing in the same village / area / neighbourhood and should     know and trust each other well enough to take up joint liability for group / individual           Loans. 3) More than one person from the same family should not be included in the same    JLG.
            a. 1 to 3 all      b. 1 and 2 only                        c. 2 and 3 only                        d. 1 and 3 only
            e. None of these
08.       NABARD provides grant assistance to Banks and other JLG promoting institute (JLPIs)            for formation, nurturing and financing of new JLGs @ Rs. ____ per JLG.
            a. Rs.1000       b. Rs.2000       c. Rs.5000       d. Rs.10000     e. None of these
09.       NABARD provides grant assistance to Banks and other joint liability JLG promoting       institute (JLPIs) for formation, nurturing and financing of new JLGs which is released in      _____ instalment/s:
            a. One              b. two              c. three           d. four             e. None of these
10.       NABARD provides _____% refinance assistance under investment credit to all banks   against their lending to JLGs.
            a. 100%          b. 80%             c. 60%             d. 50%             e. None of these
11.       To check the cheque related frauds, the examination under ultra-violet (UV) lamp for all cheques beyond a threshold of Rs.____ is mandatory:
            a. Rs.50000     b. Rs.1 lac       c. Rs.2 lac       d. Rs.5 lac       e. None of these
12.       To control the cheque related frauds, checking at multiple levels, of cheques above a             threshold of Rs.____ is mandatory.
            a. Rs.50000     b. Rs.1 lac       c. Rs.2 lac       d. Rs.5 lac       e. None of these
13.       To obtain certificate of registration from RBI to carry out activities by non-bank finance            company, the minimum net owned funds should be:
            a. Rs.500 cr     b. Rs.200 cr    c. Rs.100 cr     d. Rs.50 cr       e. None of these
14.       The deposit taking NBFCs (NBFCs-D), can take public deposit to which of the following        extent:
            a. 100% of their net owned funds      b. 150% of their net owned funds
            c. 200% of their net owned funds      d. 400% of their net owned funds
            e. None of these
Recalled Questions
15.       Details of unimplemented awards of Ombudsman scheme pending for more than 3             months, are to be placed by the banks to which of the following:
            a. Dy. Governor RBI               b. CMD/ED of the bank         c. CEO of the bank
            d. Board of Directors of the bank      e. Customer Service Committee of Board
            f. None of these
16.       TDS is deductible on which of the following account:
            a.         all types of term deposit accounts including recurring deposit.
            b.         all saving bank accounts
            c.         all NRO accounts including saving bank, where interest is paid
            d.         None of the above.
17.       Which of the following activity cannot be undertaken by Business Correspondents
            a.         disbursement of small value loans
            b.         collection of small value deposit
            c.         collection of transaction fee from customers
            d.         recovery of principal and interest.
            e.         None of the above.
18.       The bank received garnishee order on saving bank account of Mr. Ram at 10.50 a.m.,    who deposits Rs. 5000 at 12.10 p.m.:
            a.         The order would apply to this amount also.
            b.         The bank will refuse to accept the deposit as no amount can be accepted after                                     garnishee order
            c.         The order will not apply to this amount
            d.         Order will apply if court is informed about this
            e.         None of the above.
19.       For the purpose of change in classification of an advances from standard to sub-standard          category due to non-payment of the loan, in case of crop based agriculture advances,        which of the following is taken:
            a.         Two harvest seasons
            b.         Two crop seasons
            c.         One crop season
            d.         Two crop seasons for short duration crop and one crop season for long                           duration crop
            e.         Two harvest seasons with maximum of one year.
            f.          None of the above
20.       As per _____, the banks cannot allow loans and advance to their Directors and the firms   in which they hold substantial interest:
            a.         Section 19 (2) of RBI Act
            b.         Section 19 (2) of Banking Regulation Act
            c.         Section 20 (1) of RBI Act
            d.         Section 20 (1) of Banking Regulation Act
            e.         None of the above
21.       Mr N issued cheque for Rs.8000/- and left some blank space after the amount in words and figures and gave it to his clerk. His clerk added one zero after amount written in             figures and Y in the amount written in words, making it as eighty and 80000/-. The             account is debited for 80000/-. Who is responsible?
            a.         there is material alteration and bank is negligent. Hence bank liable.
            b.         there is forgery due to which the bank is liable.
            c.         customer is negligent in writing the cheque due to which the alteration has                                     taken place, hence customer is liable for the loss.
            d.         since bank has paid the amount of an altered cheque and customer was negligent,                                the loss to be borne by both of them equally.
            e.         None of the above
22.       A loan of Rs. 4 lac was sanctioned during April 2013 and it started showing irregularity     in the month of Oct 2013. This account will be classified as____ as on Mar 31, 2015:
            a. special mention account     b. sub-standard account          c. doubtful up to one year
            d. doubtful above 1 year but up to 3 year      e. None of the above
23.       Corporate Bank had opened a saving bank account in the name of Mr. Subramanian and      Murlidhar operated as ‘former or survivor’. The wife of Mr. Subramanian, who is             nominee in the account comes to your branch and informs you that Mr. Subramanian has        expired a month back. She also hands over the death certificate and requests for payment of the balance.
            a.         the payment to the nominee will be made on proper identification as she is also                             having the death certificate.
            b.         the payment will be made to the wife of deceased being legal heir of the former.
            c.         the payment will not be made as with the death of the former, nomination has                               been cancelled.
            d.         the payment will not be made as with the death of the former, survivor gets                             the authority to operate the account and nominee comes in to picture only                            when none of the account holders is available.
            e.         None of the above
24.       RBI is required to furnish Annual Information Return to Income Tax Department where:
            a.         RBI receives an aggregates amount of Rs.2 lac or more in a year for bonds issued                          by RBI
            b.         RBI receives an aggregates amount of Rs.3 lac or more in a year for bonds issued                          by RBI
            c.         RBI receives an aggregates amount of Rs.5 lac or more in a year for bonds                                     issued by RBI
            d.         RBI receives an aggregates amount of Rs. 10 lac or more in a year for bonds                                     issued by RBI
            e.         None of the above
25.       For service oriented micro enterprises, the investment ceiling in equipment excluding        land and building is:
            a. Rs.20 lac     b. Rs.3 lac       c. Rs.5 lac       d. Rs.10 lac     e. None of the above
26.       As per provisions of which of the following, the nominated bank gets a period of ____    days to verify the documentary credit:
            a. RBI guidelines, 7 banking days      b. FEDAI rules, 5 banking days
            c. UCPDC, 5 calendar days    d. none of these is correct.
27.       As per Section 20-A of Banking Regulation Act, the loans in the name of bank directors          can be remitted (written off) with permission of which of the following:
            a. Management Committee within the bank  b. Board of Directors of the bank
            c. Reserve Bank of India       d. Cannot be written off         e. None of the above
28.       A business firm has been sanctioned working capital limits of Rs. 6 lac at 25% margin by       the bank and book debt limit of Rs. 4 lac at 50% margin. What will be total margin            requirement to avail the limit fully:
            a. 4 lac            b. 5 lac                        c. 6 lac            d. 6.5 lac         e. 8 lac
29.       What is the maximum time available to a customer for lodging complaint to                    Ombudsman:
            a.         1 month from date of complaint made to bank and no reply received
            b.         1 month from date of complaint, reply received but customer not satisfied
            c.         1 year from date of receipt of reply from the bank but customer is not satisfied
            d.         1 year from date of lodgement of complaint with the bank + 1 month, where reply                has not been received.
            e.         c or d               f. None of the above
30.       CGTMSE amount of guarantee cover for a balance of Rs. 80 lakhs in case of an eligible            normal borrower in other than NE states, will be:
            a. Rs.55 lac     b. Rs.50.00 lac            c. Rs.37.50 lac                        d. Rs.22.50lac
            e. None of the above
31.       Ravi your customer of a saving bank account is approached by a person called Ram to         give an introduction to enable him to open a saving bank account with your branch to         which he agrees. Subsequently it is proved that Ravi gave introduction though he really   did not know much about Ram. In such situation:
            a.         Bank can hold Ravi responsible as he carelessly gave the introduction
            b.         Bank cannot hold Ravi responsible as Ravi has not violated introduction                                     rules
            c.         Bank can recover 50% of amount from Ravi

            d.         Any of the above        e. None of the above

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