Quiz for Day 2

Governor of RBI is appointed by :

• Board of RBI Directors
• Chairman & Managing Directors of Nationalised Banks
• World Bank
• NABARD

Which of the following statements is incorrect?

• A bill of exchange is an instrument in writing
• A bill of exchange may be drawn conditionally
• A bill of exchange directs a certain person to pay certain amount of money
• A.   A bill of exchange is payable to the order of a certain person or to the bearer of the instrument as per NI Act

Which of the following statement matches its answer.

• Bearer cheque can be negotiated with endorsement and delivery only
• Order cheque can be negotiated with endorsement only
• After a blank endorsement on an order cheque, the cheque can be negotiated further with delivery only
• Endorsement on a bearer cheque makes it an order instrument

IRAC norms stand for

• Income realisation and asset classification
• Income recognition and asset classification
• Income recognition and asset consolidation
• Interest realisation and asset classification

BCSBI stands for

• Banking company and standards Board of India
• Banking codes and standards Board of India
• Banking codes and strategy Board of India
• Banking company and strategy Board of India

A scheduled commercial bank is one

• Which is included in the Second Schedule of the RBI Act 1934
• Which is included in the Banking Regulation Act, 1949
• Which is registered under NI Act 1981
• Can’t say

Minimum amount of OD amount is given to PMJDY account holder is?

• 2000
• 1000
• 5000
• 10000

A bank finances an agriculturist to buy a tractor. The loan is secured by

• Hypothecation of the tractor
• Mortgage of the tractor
• Pledge of the tractor
• Assignment of the tractor

A bank finances for house purchase, The loan is secured by

• Hypothecation of the house
• Mortgage of the house
• Pledge of the house
• Assignment of the house

An account holder draws a cheque on a

• banker of the payee
• banker of the drawee
• banker of the drawer
• banker of the endorsee