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1. Lien is ___________
(a) transfer of ownership to the lender
(b) a right of a person to retain the goods which is in his possession, belonging to another person, until claim or dues attached to it are fully satisfied or paid or discharged
(c)Banker’s right to retain the FOR until loan is repaid
(d) all of the above
(e) none of these
2.The term ‘Moral suasion’ refers to__________
(a)The banker’s duty of secrecy as regards the affairs and accounts of his customers
(b)Moral duty of a borrower to deal with only one bank
(c)The advice given by Reserve bank to banks/financial institutions in the matter of their lending and other operations with the objective that they might implement or follow
(d)all
(e)none
3.Who can open various types of non-resident accounts?
(a)Persons of Indian Nationality of person of Indian origin residing outside India
(b)Persons of foreign nationality or origin residing outside India
(c)Firms, companies and other organization resident outside India
(d)all
(e)none
4.A foreign currency (non-resident) account means______
(a) an account maintained by a person of Indian nationality or origin with an authorized dealer in India, in a designated foreign currency
(b)Foreign current account maintained in India by a foreigner
(c)a foreign currency account maintained at a foreign centre by a person resident in India
(d)all
(e)none
5.FCNR (banks) accounts are maintained in the form of _______
(a) saving accounts
(b)Current accounts
(c)Term deposits (except recurring deposits )
(d)all
(e)none
6.The term ‘ways and means’ advances refer to______
(a)the temporary advance made to the government by its bankers to bridge the internal between expenditure and the flow of receipts of revenue
(b)the advance given by the banks to the poorest of the society
(c)lending made under PMRY scheme
(d)all
(e)none
7.Factoring is_____
(a) a means of financing traders and manufactures by taking over their receivables
(b) a means of providing post-shipment finance to exporters
(c)a type of agriculture financing
(d)none
(e) all
8.On 19th July 1969, 14 banks were nationalized, these banks had deposits of more than_______
(a)Rs 25 crore
(b)Rs 50 crore
(c)Rs 85 crore
(d) Rs 100 crore
(e)none of these
9. The first public sector bank to issue capital to public is_____
(a) Corporation bank
(b)Indian overseas bank
(c)Oriental bank of commerce
(d)Punjab national bank
(e)none
10. Bill of Exchange, Promissory Notes and Cheques are defined as
(a) Negotiable Instruments
(b) Trust Receipts
(c) Documents of Title to goods
(d) None of the above
(e) Stamped Instruments
Answers:
1.b
2.c
3.d
4.a
5.C
6.a
7.a
8.d
9.c
10.A
