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WorksheetsBanking: Origin & Development
Total questions: 45
Worksheet time: 23mins
I'm a promise of payment,
written with care,
Bearer or Order,
the choice you declare.
Cross me and guard me,
don't let me stray.
Cheque
Demand Draft
Pay-in-slip
NEFT
Which type of cheque is payable to the person whose name is written on the face of the cheque?
Bearer Cheque
Order Cheque
Crossed Cheque
Open Cheque
I'm electronic magic,
funds on the go,
Swift and secure,
in a timely flow.
Real-time transfers,
without delay,
Which service am I?
NEFT
IMPS
RTGS
All of these
Which electronic fund transfer system is typically used for high-value transactions and settles transactions individually and in real-time?
NEFT
RTGS
IMPS
ECS
What is the maximum limit for an IMPS transaction in India?
No Limit
₹2,00,000
₹5,00,000
₹10,00,000
In NEFT, when are the settlement batches typically processed on weekdays?
Every Hour
Half-hourly intervals
Hourly intervals
Daily, at a fixed time
Which document is a prepayment instrument that allows a bank's customer to withdraw money from their account to the card?
Credit Card
Debit Card
Demand Draft
Electronic Clearing Service (ECS)
What does "KYC" stand for in the banking and financial sector?
Know Your Currency
Know Your Customer
Keeping Your Cash
Know Your Credit
What is the purpose of the signature line on a cheque?
To write the amount in words
To authorize the payment
To mention the payee's name
To provide the payer's contact information
What does MICR stand for in the context of a cheque?
Magnetic Ink Character Recognition
Money Issuance Control Record
Magnetic Ink Code Reader
Monetary Information Control Register
What does CTS-2010 stand for in the context of cheques?
Cheque Truncation System - 2010
Centralized Transaction Service - 2010
Clearinghouse Tracking System - 2010
Cheque Transfer System - 2010
What is the maximum limit for a single NEFT transaction in India?
₹2,00,000
₹5,00,000
₹10,00,000
No Limit
What is the minimum amount that can be transferred through NEFT?
₹1 LAKH
₹10 LAKHS
₹15 LAKHS
₹2 LAKHS
What is the minimum amount that can be transferred through RTGS in India?
₹5,00,000
₹2,00,000
₹1,00,000
₹10,00,000
Which of the following is true regarding RTGS transactions?
They have no upper limit.
They are typically used for small-value transactions.
They are not available on weekends and bank holidays.
They involve batch processing.
Which fund transfer system is known for its batch processing and is commonly used for salaries, dividends, and bulk transactions?
NEFT
RTGS
ECS
IMPS
Round the clock, I never sleep, Instant transfers, my promise I keep. From mobiles and banks, I serve you best, Who am I? Put your mind to the test!
NEFT
RTGS
IMPS
ECS
What is the Electronic Clearing System (ECS) primarily used for in the banking sector?
Managing physical branch operations
Automating electronic fund transfers
Managing ATM withdrawals
Handling customer inquiries
ECS is commonly used for the bulk transfer of funds for which of the following purposes?
Online shopping
Salary payments
Cash withdrawals
Account balance inquiries
What is the primary function of a bank?
Selling goods and services
Lending money
Manufacturing products
Providing healthcare services
Which term best describes the process of accepting deposits and granting loans by banks?
Trading
Banking
Barter
Finance
Which bank is considered the oldest in India, established in 1770?
Punjab National Bank
Reserve Bank of India
State Bank of India
Bank of Hindustan
During the pre-independence period, which bank was the central bank of India?
State Bank of India
Reserve Bank of India
Bank of Bombay
Bank of Hindustan
When was the Reserve Bank of India (RBI) established?
1929
1935
1947
1951
In which year was the major nationalization of banks in India carried out?
1947
1951
1969
1991
How many banks were nationalized during the 1969 nationalization of banks in India?
05
10
14
19
What is the primary duty of a banker in the banker-customer relationship?
Maximizing profits for the bank
Safeguarding customer's interests and funds
Promoting government policies
Providing investment advice
The word bank is derived from Italian word _______.
Banco
Banko
_______ is an institution that deal with money and credit.
Government
Bank
RBI
NABARD
The strength of economy of any country basically depends on a sound and _______banking system.
Emerging
Financial
Solvent
Strengthened
Bank is a ______ organisation which accepts deposits that can be withdrawn on demand.
Lawful
Illegal
Approved
Insolvent
_________accounts are opened by the persons who want to save some part of their income either to earn interest on deposit or for safety purposes.
Current
Savings
Term
Recurring
MICR is a _____ digit code.
18
9
15
11
When a bank accept deposits, it becomes ___________.
Creditor
Debtor
Beneficiary
Principal
When a Bank manages properties of its customers, it becomes a ___________.
Trustee
Debtor
Creditor
Beneficiary
On hiring out of locker, the relationship between banker and customer is that of ______________.
Lessor and Lessee
Agent and Principal
Trustee and Beneficiary
Debtor and Creditor
The primary relationship, which flows from the essential functions of a bank is of ____________.
Debtor and Creditor
Agent and Principal
Trustee and Beneficiary
Lessor and Lessee
A _________ cheque can be encashed at the bank counter.
Crossed
Post dated
Bearer
Stale
NABARD stands for _________________.
National Bank for Agriculture and Rural Development
National Bank for Reconstruction and Development
Nominal Area Bank for Agriculture
National Bank for Rural Development
The person who draws the cheque is called as a _________.
Drawer
Drawee
Payee
Banker
On merging the 3 presidency banks i.e. Bank of Bengal, Bombay and Madras, which bank was established?
SBI
RBI
Imperial Bank of India
Central Bank of India
__________ is the prescribed standard by the RBI for cheques issued by all Indian banks to facilitate faster clearing.
Crossed
Cancelled
CTS 2010
Ordered
_________ are the source of finance, which is provided by the banks to the companies to meet the short-term financial requirement.
Loans
Bills
Advances
Credits
Odd man out
Trust and confidence
Contributes to economic growth
Credit management
Less revenue
a person who has the habit of resorting to the same place or person to do business
Customer
Bank
RBI
Businessman
