Introduction to Banking

The largest and the oldest bank which is still in existence in India is?

• Bank of india

• State bank of india

• Punjab national Bank

• Allahabad bank

• Syndicate bank

How many banks were nationalized in 1969?

• 10

• 11

• 12

• 13

• 14

The Indian banking sector is broadly classified into _______?

• Scheduled and non - scheduled banks

• Commercial and Non-commerical banks

• Corporate banks and non- corporate banks

• Public banks and foreign banks

• Domestic banks and non-domestic banks

What are the main functions of RBI?

• Issue of notes

• Bankers bank

• Banker to the government

• Controller of the credit

• All the above

Who has the authority to side on Re.1 note?

• Governor of RBI

• Finance of minister

• Chief economic advisor

• Finance secretary

• Vice president

At present how many public sector banks are working in India?

• 21

• 20

• 15

• 12

• 10

Chillar app is an app to make banking through your mobile simple and convenient, it is offered by which bank?

• Oriented bank of commerce

• ICICI Bank

• HDFC bank

• Bank of baroda

• Canada bank

In APR, expand the term 'R'

• Ratio

• Rate

• Résolution

• Reconstruction

• Real

Define letter of credit

• A letter issued by a bank to another bank (especially one in a different country) to serve as a guarantee for payments made to a specified at person under a specified at condition

• The document that orders a bank to pay a specific amount of money from a person's account to the person in whose name the check has been issued

• An unsecured promissory note with a fixed maturity of rarely more than 270 days

• A certificate issued by a bank to a person's depositing money for a specified and length of time at a specified a rate of interest

• All the above

Banking instrument include

• Cheques

• Drafts

• Bills of exchange

• Letter of credit

• All the above