**Top 30 Most Imp Banking QS for
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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 six
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. Automatic 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.
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)..
==============================
=========
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 six
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. Automatic 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.
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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