BANK Q & A-6

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51.

RuPay debit card is similar to which of the following?

[A] Singapore’s NETS
[B] China’s UnionPay
[C] Both 1 and 2
[D] None of The Above

Hide Answer

Correct Answer: C [Both 1 and 2]
Notes:
RuPay debit card is similar to both Singapore’s NETS and China’s UnionPay.

52.Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) was set up by Government of India and which of the following bank?

[A] RBI
[B] NABARD
[C] SIDBI
[D] MUDRA

Hide Answer

Correct Answer: C [SIDBI]
Notes:
The Credit Guarantee Fund Scheme for Micro and Small Enterprises (CGS) was launched by the Government of India (GoI) to make available collateral-free credit to the micro and small enterprise sector

53.In pension plans for employees, special account through which funds are remained nontaxable until employee retires is classified as?

[A] Keogh retirement account
[B] vesting account
[C] portability account
[D] individual retirement account

Hide Answer

Correct Answer: D [individual retirement account]
Notes:
An Individual Retirement Account (IRA) is a tax-advantaged account that is designed to help you save for retirement. There are two different types of IRAs: Traditional and Roth IRAs.

54.The employees pension plan in which the employees contribute a portion of earning into the fund is classified as?

[A] cash balance plans
[B] early retirement window
[C] deferred profit sharing plan
[D] savings and thrift plan

Hide Answer

Correct Answer: D [savings and thrift plan]
Notes:
The Thrift Savings Plan (TSP) is a tax-deferred retirement savings and investment plan that offers Federal employees the same type of savings and tax benefits that many private corporations offer their employees under 401(k) plans.

55.Which of the following is true regarding BCA?

[A] BCA works for Insurance companies
[B] A BCA can provide services to only 1 bank
[C] A BCA can provide services to more than 1 bank
[D] None of the above

Hide Answer

Correct Answer: C [A BCA can provide services to more than 1 bank]
Notes:
Baseline Credit Assessment. is a measure of the probability that a bank will require support to avoid default beyond the support provided by its affiliates. overview.

56.Biometric ATM cards are generally issued for which of the following?

[A] Illiterates
[B] Sick & old persons
[C] Inoperative accountholders
[D] Both 1 & 2

Hide Answer

Correct Answer: D [Both 1 & 2]
Notes:
Biometrics ATM offer ATM type interface along with at-least one Biometrics capture device like Fingerprint Scanner, Iris camera, Palm/Finger Vein scanner , Face recognition camera.

57.Which of the following banks is the first to provide Mobile ATM?

[A] HSBC
[B] ICICI BANK
[C] SBI
[D] Axis Bank

Hide Answer

Correct Answer: B [ICICI BANK]
Notes:
ICICI Bank, India’s largest private sector bank, today announced the launch of “ATM on Wheels”, India’s first Mobile ATM, in Mumbai.

58.RBI has launched new restructuring tool ‘S4A’ to raise banks’ moral hazard risk. S4A stands for which of the following?

[A] Scheme for Systematic Structuring of Stressed Assets
[B] Scheme for Sustainable Structuring of Scholastic Assets
[C] Scheme for Sustainable Structuring of Stressed Assets
[D] Scheme for Sustainable Strength of Stressed Assets

Hide Answer

Correct Answer: C [Scheme for Sustainable Structuring of Stressed Assets]
Notes:
Under the ‘Scheme for Sustainable Structuring of Stressed Assets’ (S4A), RBI allowed banks to take equity in debt laden firms permitting them to split total loans of struggling companies into sustainable and unsustainable based on the cash flows of the projects.

59.Which of the following are included/excluded in determining reasonable time for the purpose of payment of a negotiable instrument?

[A] public holidays are included
[B] public holidays are excluded
[C] only the holidays observed by the banks are excluded
[D] none of the above

Hide Answer

Correct Answer: B [public holidays are excluded]
Notes:
In determining what is a reasonable time for presentment for acceptance or payment, for giving notice of dishonour and for noting, regard shall be had to the nature of the instrument and the usual course of dealing with respect to similar instruments; and, in calculating such time, public holidays shall be excluded.

60.How much percentage of its funds can be held by payments banks in current and time deposit with Scheduled Commercial Bank?

[A] 25%
[B] 40%
[C] 50%
[D] 75%

Hide Answer

Correct Answer: A [25%]
Notes:
The payments bank can hold maximum 25% in current and time/fixed deposits with other scheduled commercial banks.

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