Banking Awareness For SBI IBPS and other exams Part 3

Banking Awareness For SBI IBPS and other exams Part 3

1 "Scheduled bank"means a bank ~~~~included in the Second Schedule to the Reserve Bank

2 A bank account in which a depositor can deposit his funds any number of times ~~~~Current               Account

3 A Bank is under a statutory obligations to honour its customer‘s cheques vide ~~~~Section 31         of the Negotiable Instruments Act, 1881

4 A short-term credit investment created by a non- financial firm and guaranteed by a bank to                  make payment is called? ~~~~ bankers acceptance market

5 BCSBI stands for ~~~~ Banking Codes and Standards Board of India

6 Government security that is a claim on the government and is a secure financial instrument                 which guarantees of both capital and interest is called? ~~~~ Gilt-edged security

7 RBI generally reviews the Monetary policy for every ~~~~ three months

8 The first Governor of the Reserve Bank of India from 1 April1935 to 30 June, 1937 was ~~~~ Sir Osborne Smith

9 To use smart cards/debit cards/credit cards for the purchase of an item or for payment of a                    service at a merchant‘s store, the card has to be swiped in a terminal known as ~~~~ Point             of Sale terminal

10 Which of the following acts govern the RBI functions? ~~~~ RBI Act,1934

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