Banking and Finance MCQ Questions and Answers

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Banking and Finance MCQ Questions and Answers especially for BCA and Other Departments for Colledge Students, also those who are looking for Banking and Finance regarding Questions Here is the list which will help you to learn.

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Banking and Finance MCQ Questions and Answers

Q1: what will bank customers pay for using safe deposit locker facilities?

Answer: Rent on locker

Q2: Which of the following NBFCs converted itself into a commercial bank

Answer: Kotak Mahindra

Q3: what happens if a crossed cheque is presented for payment?

Answer: It can be paid only through a banker.

Q4: What is call money?

Answer: Money borrowed for more than one day but up to 14 days.

Q5: What is the most powerful tool used by the Reserve Bank of India to control inflation?

Answer: Raise interest rate.

Q6: Which is the instrument used by RBI under general credit control?

Answer: Cash Reserve Ratio (CRR)

Q7: Which one of the following is the ratio of the loan principal to be appraised value?

Answer: Loan-to-loan-value-ratio

Q8: the minimum capital that needs to be compulsorily maintained in all scheduled banks in RBI?

Answer: 5 lakhs

Q9: who decides to maintain the quantity of coins?

Answer: Government of India

Q10: which bank is leader of last resort?

Answer: RBI

Q11: Which service is considered the most valuable extended by banks?

Answer: Cheques and loans to far off places

Q12: According to RBI open market operations are?

Answer: Trading in securities, Auctioning and Transfer of Gold

Q13: First RBI Governor of India?

Answer: Chintaman Dwarkanath Deshmukh (C.D Deshmukh)

Q14: Indigenous banks are controlled by?

Answer: Registered co-operative institutions

Q15: banking ombudsman was established under Banking Regulation Act 1949 in the year?

Answer: 1995

Q16: Which service is considered the most valuable extended by banks?

Answer: Cheques and loans to far off places

Q17: Which is india’s vast private sector bank?

Answer: HDFC

Q18: Where is RBI Head Office?

Answer: Mumbai

Q19: Which bank in 2004 took up banking company trading activity

Answer: IDBI

Q20: The rates fixed by central bank for short term loan against public securities

Answer: Repo Rate

Q21: The main function of banks as per 1949 Banking Regulation Act

Answer: Accepting Cash payments

Q22: Smart cards was introduced as per……………. committee direction

Answer: Saraf Committee

Q23: Which bank introduced prepaid card for the first time?

Answer: ICICI

Q24: As per the direction of RBI savings account receives interest at the time interval of

Answer: 6 MONTHS

Q25: Current account savings are

Answer: Non sensitive rate

Q26: The primary relationship between customer and banker starts when

Answer: when customer opens account

Q27: Which of the below is the most important relationship between banker and customer

Answer: DEBTOR AND CREDITOR

Q28: Taking loans after being the customer to bank

Answer: Debtor

Q29: who directs commercial banks to realise the cheques of distant Bank branches

Answer: RBI

Q30: Garnishee a word is taken from latin word

Answer: Garnire

Q31: which account permits to overdraw of money?

Answer: Current Account

Q32: the apex institution that gives agriculture related Finance

Answer: NABARD

Q33: which of the following is not a part of India money market?

Answer: Indian Gold Council

Q34: When was the state bank of india nationalised?

Answer: 1949

Q35:  What happens if a crossed cheque is presented for payment?

Answer: It can be paid only through a banker

Q36: which bank of India is called as bankers Bank?

Answer: RBI

Q37: expand RTGS

Answer: Real-Time Gross Settlement

Q38: Who circulate the money circulation in India

Answer: RBI

Q39: quantitative credit control method is

Answer: Bank Rate

Q40: the first public sector bank that gave public capital is…

Answer: Oriental Bank of Commerce

Q41: under which commission was RBI established?

Answer: the Hilton Young Commission

Q42: EEFC says

Answer: Exchange Earners’ Foreign Currency Account 

Q43: which bank receives deposits from public?

Answer: Commercial Bank

Q44: the rate at which RBI exchanges bill at discount are….

Answer: Bank Rate

Q45: Major Assets of commercial banks

Answer: Commercial loans and Deposits

Q46: Ombudsman is the authority appointed by…

Answer: Central Government

Q47: agricultural finance is given as per the direction of….

Answer: NABARD

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