Dear readers,
Here we are
providing some of the important Banking
questions which can be asked in upcoming IBPS Clerk III exam.
1.
What is Cheque?
Ans. Cheque is a negotiable instrument
containing conditional order to pay sum of money to the person mentioned on it
or to the bearer of the instrument.
2.
What is crossing?
Ans. Two parallel lines drawn on the top left
corner of the cheque.
3. What
is account payee cheque?
Ans. Account payee cheques can be routed only
through accounts.
4.
What
is a post dated cheque?
Ans. The date on the cheque beyond today’s date
then cheque becomes post dated.
5.
What is stale cheque?
. Cheque is valid for six months. If the date
on the cheque is before 3 months, then the cheque becomes stale cheque.
6.
What is a mutilated cheque?
Ans. It is a damaged cheque.
7.
What is At Par cheque?
Ans. It is payable anywhere in India.
8.
What is Multi city cheque?
Ans. A cheque which is payable in any branch of
a particular bank.
9.
What is Repo rate?
Ans. The rate at which RBI lends money to other
banks.
10. What
is Reverse Repo rate?
Ans. The rate at which RBI pays interest to the
banks.
11. .
Which bank is called as Central bank?
Ans. RBI is also called as Central bank.
12. What
is Internet banking?
Ans. Banking through internet.
13. What is Inflation?
Ans. It is a state where money looses the value
hence prices will go up (or) Decreasing the value of money.
14. What is Deflation?
Ans. It is opposite to inflation. Money will
have more value. Here the products looses the value.
15. What
is Debit cum ATM card?
Ans. The customer can deposit and withdraw cash
by means of magnetic ATM card.
16. What
is ATM?
Ans. Automated Teller Machine.
17. What
is PLR and BPLR?
Ans. PLR - Prime Lending Rate.
BPLR - Basic Prime Lending Rate.
18. What
is Credit card?
Ans. Credit card is a plastic instrument that
can be used for the purchase of goods and services. You can buy the services
and then pay the cash to the bank. Limits will be fixed based on the net worth
of the customer.
Leading
credit cards: VISA, MASTER.
19. What
is an NRI a/c?
Ans. NRI stands for “Non Resident Indian”. An
Indian who is residing in abroad can open an SB a/c in Indian banks. These
accounts are called NRI a/cs.
20. What
is CRR and SLR?
Ans. CRR: Cash Reserve Ratio – It is the ratio
of physical cash that every bank has to keep with RBI.
SLR: Statutory Liquidity Ratio – It is the
ratio of liquid assets that every bank has to keep with RBI.
21. What
is RTGS and NEFT?
Ans. RTGS: Real Time Gross Settlement. Minimum limit - 2lakh. Max. limit - No limit
NEFT: National Electronic Fund Transfer.
These two are the two methods through which
funds can be transferred from one bank to another bank.
No Minimum & Max. limit in NEFT.
22. What
is NPA?
Ans. NPA: Non Performing Asset: When a loan
becomes bad then it becomes NPA.
23. What
is online banking?
Ans. Nothing but any where banking. A customer
can operate his account from any branch of a particular bank.
24. What is a currency chest?
i. To facilitate the distribution of banknotes and rupee coins, the
Reserve Bank has authorised select branches of scheduled banks to establish
Currency Chests.
ii. These are actually storehouses where banknotes and rupee coins are
stocked on behalf of the Reserve Bank. As on June 30, 2006, there were 4428
Currency Chests and 4102 Small Coin Depots.
iii. The currency chest branches are expected to distribute banknotes
and rupee coins to other bank branches in their area of operation.
25. What are soiled, mutilated
and imperfect banknotes?
(i) "soiled note:"
means a note which, has become dirty due to usage and also includes a two piece
note pasted together wherein both the pieces presented belong to the same note,
and form the entire note.
(ii) Mutilated banknote is
a banknote, of which a portion is missing or which is composed of more than two
pieces.
(iii) Imperfect banknote means any banknote, which is wholly or partially, obliterated, shrunk, washed, altered or indecipherable but does not include a mutilated banknote.
(iii) Imperfect banknote means any banknote, which is wholly or partially, obliterated, shrunk, washed, altered or indecipherable but does not include a mutilated banknote.
26. Why is One Rupee liability
of the Government of India?
Ans: The Government of India
derives authority to issue Rupee coins from the Coinage Act. As such the rupee coins issued by Government
constitute the liabilities of the Government.
27. What is legal tender?
Ans: The coins issued under the
authority of Section 6 of The Coinage Act, 1906, shall be legal tender in
payment or on account i.e. provided that a coin has not been defaced and has
not lost weight so as to be less than such weight as may be prescribed by RBI
28. RBI Clean Note Policy: Reserve Bank of India has been continuously
making efforts to make good quality banknotes available to the members of public
To help RBI and banking system, the members of
public are requested to ensure the following:
1. Not to staple the banknotes
2. Not to write / put rubber stamp or any other mark on the
banknotes
3. Store the banknotes safely to prevent any damage
29. What
is Unclaimed Deposit Account?
Ans:
Those saving or current accounts which have not been operated upon for 10 years or
more, as at the end of each calendar year.
30. What
is Inoperative /Dormant Account?
Ans: A savings as well as current account should be
treated as inoperative / dormant if there are no transactions in the account
for over a period of two years.
The following services are not available for inactive / inoperative accounts:
(a) Request for address change
(b) ATM/Debit card renewal or issue
(c) Request for cheque book
(d) Transactions through ATM/Debit card, Internet Banking and Phone banking
(e) Transactions through issue of Clearing Cheque (applicable only for accounts in "Inoperative" status)
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