PRINCIPLES AND PRACTICES OF MODERN BANKING MCQ QUESTIONS AND ANSWERS

 1. The primary relationship between a banker and customer starts from the time

A. when customer visits that bank
B. when customer opens account
C. when customer visits that bank to made queries
D. All of the above
ANSWER: B

2. A typical commercial banks provide ____________.
A. Long term loans
B. medium-term loans
C. short term loans
D. all the above
ANSWER: C

3. Which one of the following is the most important relationship between banker and customer?
A. Debtor and Creditor
B. Bailee and Bailor
C. Agency and Principal
D. Trustee and Beneficiary
ANSWER: A

4. When customer’s account overdrawn or when customer has taken loan from banker, then the customer
A. Creditor
B. Agent
C. Debtor
D. Bailor
ANSWER: C

5. When banker received deposits from the customer, then the banker becomes ————– of the customer
A. Debtor
B. Creditor
C. Bailee
D. Trustee
ANSWER: A

6. Which of the following systems of banking contributes to banking monopoly?
A. unit banking
B. chain banking
C. group banking
D. branch banking
ANSWER: D

7. It is a —————– obligation of a banker to honour the cheques of the customer drawn against current
account
A. Mutual
B. Statutory
C. Unstatutory
D. All of the above
ANSWER: B

8. Foreign exchange banks specialized in providing _________.
A. long term loans
B. short term loans
C. agricultural loans
D. foreign exchange
ANSWER: D

9. Dishonour of cheque by a banker without any justifiable reason is called ___________.
A. Valid dishonour of cheques
B. Unmindful dishonour of cheques
C. Negligence dishonour of cheques
D. Wrongful dishonour of cheques
ANSWER: D

10. Special damages refers to damages payable by a banker to his customer for the actual ————- loss
suffered by customer
A. Financial
B. Special
C. Unpecuniary
D. Unfinancial
ANSWER: A

11. ———- is the right of a person to retain the property of another person in his possession untill the debt
from that owner of that property is repaid
A. Lien
B. hypothecation
C. mortgage
D. assignment
ANSWER: A

12. The bank can consider —————— lien as their protection against loss on loan or overdraft which was
given to its customers
A. Special
B. Particular
C. General
D. Lending
ANSWER: A

13. The idea behind the bankers right to set-off is to enable the banker to reduce the ————– amount due
to him from a customer
A. Gross
B. Net
C. Partial
D. None of the above
ANSWER: B

14. Which one of the following is material alteration?
A. Alteration of the date of the date
B. Alteration of amount
C. Alteration of crossing
D. all the above
ANSWER: D

15. The right of set-off customers account can be exercised only by a
A. Creditors
B. Debtors
C. Banker
D. Customer
ANSWER: C

16. Usually incidental charges are levied on _________ type of account holders.
A. Savings account
B. Fixed deposit account
C. Current Account
D. Recurring deposit account
ANSWER - c

17. The ————– rule is followed in appropriation of accounts if neither debtor nor creditors does not
makes any specific appropriation
A. Pagets
B. Kinlay
C. Sheldon
D. Claytons
ANSWER: D

18. The word “Garnishee” is derived from a Latin word
A. Garnire
B. Garn
C. Garnish
D. Garni
ANSWER: A

19. The meaning of the word “Garnishee” means
A. to consult
B. . to warn
C. to punish
D. to convince
ANSWER: B

20. MICR stands for
A. Magnetic Ink Character Recognition
B. Magnetic Ink Company Recognition
C. Magnetic Ink Cross Recognition
D. Magnetic Ink Community Recognition
ANSWER: A

21. In India, the law regulating the Negotiable instruments are
A. Banking Regulation Act 1949
B. Reserve Bank of India Act 1934
C. Negotiable Instruments Act 1881
D. Companies Act 1956
ANSWER: C

22. Banks which accept deposits from the public and lend them mainly to commerce for short periods?
A. Commercial Bank
B. . Industrial Bank
C. Agricultural Bank
D. Central Bank
ANSWER: A

23. Which bank is otherwise called as Investment banks?
A. Exchange Bank
B. Reserve Bank of India
C. Industrial Bank
D. Agricultural Bank
ANSWER: C

24. A company who accepts demand deposit is called __________
A. Joint stock company
B. Banking company
C. Manufacturing company
D. IT company
ANSWER: B

25. Current Accounts are mainly opened by
A. Professionals
B. Agriculturalist
C. Salaried class people
D. Trading and industrial concern
ANSWER: D

26. Who controls credit in India?
A. Government of India
B. Reserve Bank of India
C. State Bank of India
D. Indian Bank
ANSWER: B

27. Fixed Deposits is otherwise called as
A. Accrued Deposits
B. Time deposits
C. Recurring Deposits
D. Demand Deposits
ANSWER: B

28. In the which type of deposit, the high rate of interest is provided by the Bank?
A. Current Account
B. Recurring Deposit Account
C. Fixed Deposit Account
D. Savings Account
ANSWER: C

29. RBI was set up in the year _____
A. 1934
B. 1935
C. 1936
D. 1937
ANSWER: B

30. The rate of interest charged for the loan by the banker compared to overdraft and cash credit is generally
A. High
B. Low
C. Same
D. Based on the amount
ANSWER: B

31. Which type of account holder has the permission to overdraw the amount from his/her account?
A. Savings account
B. Current account
C. Fixed deposit account
D. Recurring deposit account
ANSWER: B

32. Discounting of Bills of Exchange is an arrangement under which banks take a bill of exchange maturing
with a short period of
A. 20 days or 40 days
B. 50 days or 100 days
C. 60 days or 90 days
D. 35 days or 75 days
ANSWER: C

33. The main aim of a banker for performing the subsidiary services is to earn a ———— of the customers.
A. Money
B. Documents
C. Valuables
D. Goodwill
ANSWER: D

34. The services rendered by a banker as an agent of his customers are called
A. Principal services
B. Agency services
C. General utility services
D. Social services
ANSWER: B

35. The written instructions given by the customers to banker to perform the services like collection and
payment of money is noted down in
A. Written Instructions Book
B. Standing Instructions Book
C. Banking Instructions Book
D. Services Instructions Book
ANSWER: B

36. A ————– is a person who is entrusted with some property by the settler or the author of the trust for
the benefit of another person called beneficiary
A. Attorney
B. Executor
C. Administrator
D. Trustee
ANSWER: D

37. An ————– is a person appointed by a testator to execute his will
A. Executor
B. Attorney
C. Trustee
D. Administrator
ANSWER: A

38. Services rendered by a banker not only to his customers, but also to the general public are called as
A. Principal services
B. Agency services
C. General utility services
D. Social services
ANSWER: C

38. Services rendered by a banker not only to his customers, but also to the general public are called as
A. Principal services
B. Agency services
C. General utility services
D. Social services
ANSWER: C

39. Which section of the negotiable instrument act 1881 defines promissory note?
A. Section 1
B. Section s
C. Section 3
D. Section 4
ANSWER: D

40. ———— is a system under which an individual bank carries on banking business with a network of
branches spread all over the country.
A. Mixed Banking
B. Branch Banking
C. Unit Banking
D. Corresponding Banking
ANSWER: B

41. A cheque dated subsequent to the date of its issue is
A. Post dated cheque
B. Blank cheque
C. Crossed cheque
D. Account payee cheque
ANSWER: A

42. A cheque date before the date of its issue is
A. Worth cheque
B. Full worth cheque
C. Preemptive cheque
D. Ante dated cheque
ANSWER: D

43. A drawer in the bill of exchange can also be a
A. lender
B. Payee
C. Banker
D. Creditor
ANSWER: B

44. The rate at which RBI discounts approved bills is _________.
A. Bank rate
B. Interest rate
C. Exchange rate
D. Discount rate
ANSWER: D

45. The lien is defined in
A. the Sale of Goods Act
B. the Transfer of property Act
C. the Indian Contract Act
D. the Companies Act
ANSWER: A

46. The apex institution in agricultural finance is
A. NABARD
B. EXIM Bank
C. Reserve Bank of India
D. IDBI
ANSWER: A

47. Who is primarily liable on a promissory note?
A. Holder
B. Maker
C. Drawee
D. . Endorser
ANSWER: B

48. How many parties are mainly involved in Promissory Note?
A. One
B. Five
C. Two
D. Three
ANSWER: C

49. In a bill of exchange, drawee is the person
A. who draws the bill
B. on whom the bill is drawn
C. to whom the payment of the bill is to be made
D. to whom the payment of the bill is not to be made
ANSWER: B

50. ———— is a dead cheque.
A. Post dated cheque
B. Stale cheque
C. Ante dated cheque
D. Pre dated cheque
ANSWER: B

51. Current Bank Rate is ___________.
A. 6.75%
B. 6.5%
C. 6.25%
D. 5.4
ANSWER: D

52. Discounting of bills of exchange is
A. Clean advance
B. Secured advance
C. Neither clean advance nor secured advance
D. Unsecured advance
ANSWER: C

53. Expand NEFT
A. National Electronic Fund Transfer
B. Neutral Electronic Fund Transfer
C. Nominal Electronic Fund Transfer
D. Natural Electronic Fund Transfer
ANSWER: A

54. Which section of Negotiable Instruments Act 1881, defines endorsement
A. Section 10
B. Section 15
C. Section 18
D. . Section 20
ANSWER: B

55. —— is an endorsement in which the endorser merely signs his name on the back of the instrument without
mentioning the name of the person to whom the instrument is endorsed
A. Blank Endorsement
B. Restrictive Endorsement
C. Qualified Endorsement
D. San Frais Endorsement
ANSWER: A

56. Blank endorsement is otherwise called as
A. Full Endorsement
B. Qualified Endorsement
C. General Endorsement
D. Special Endorsement
ANSWER: C

57. What does the term “PIN” stands for?
A. People Identification Number
B. Personal Instruction Number
C. Personal Identification Number
D. Personal Information Number
ANSWER: C

58. The ATM installed at bank premises is called as ——– ATM
A. Off-site
B. Branch
C. On-site
D. mobile
ANSWER: D

59. KYC means
A. Know Your Card
B. Know Your Cost
C. Know Your Customer
D. Know Your Creditor
ANSWER: C

60. Current CRR is
A. 5%
B. 4%
C. 6%
D. 7.5%
ANSWER: B

61. RTGS means
A. Real Towards Gross Settlement
B. Real Turn Gross Settlement
C. Real Technique Gross Settlement
D. Real Time Gross Settlement
ANSWER: D

62. In which system computers are based on the centralized processing concept?
A. Multi-user computer networking
B. Stand alone computer networking
C. Processing computer system
D. Frame computer system
ANSWER: A

63. Core banking is a __________ branch computerization model
A. Centralized
B. Decentralized
C. Unified
D. ATM
ANSWER: B

64. Establishment of SBI precedes the establishment of __________.
A. Bank of Madras
B. Bank of Calcutta
C. Bank of Bambay
D. All the above
ANSWER: D

65. ATMs are primarily used for performing the __________ functions
A. Infrastructure
B. Computer based
C. Banking
D. Hospitalized
ANSWER: C

66. Expand ‘ECS’
A. Electronic Clearing System
B. Electronic Centered System
C. Electronic Cross Systems
D. Electronic Conversion Systems
ANSWER: A

67. EFT is introduced by
A. IRDA
B. RBI
C. SEBI
D. NSE
ANSWER: B

68. ________ is a technology that allows you to access your bank account from a mobile device.
A. Home Banking
B. Mobile Banking
C. Internet Banking
D. Television Banking
ANSWER: B

69. ____ is the result of combining technology and traditional bank services through websites that customers
use to access their bank accounts
A. Home Banking
B. Mobile Banking
C. Internet Banking
D. Television Banking
ANSWER: C

70. A ______ is the market for short term bills which are generally of 3 months duration
A. Bill market
B. Money market
C. Credit market
D. Open market
ANSWER: A

71. A Garnishee order is an order issued by_________.
A. Income tax officer
B. Official liquidator
C. Court
D. RBI
ANSWER: C

72. If the endorser signs his name only, the endorsement is said to be
A. Blank Endorsement
B. Conditional Endorsement
C. Restricted Endorsement
D. Full Endorsement
ANSWER: D

73. The paying banker who makes cash payment of a cross cheque at the counter shall be liable for the loss of
A. Drawer of the cheque
B. True owner of the cheque
C. Collecting banker
D. the First endorser
ANSWER: B

74. Who can cancel the crossing on a cheque?

A. Payee

B. Paying banker

C. Endorser

D. Drawer

ANSWER: D

75. Negotiable instruments which are freely transferable form one party to another by mere delivery is known

as _____________.

A. order documents

B. bearer documents

C. flexible documents

D. Clean documents

ANSWER: B

76. Drawing of two parallel transverse lines on the face of the cheque is called

A. Special crossing

B. General Crossing

C. Upper Crossing

D. Lower Crossing

ANSWER: B

77. Addition of the name of a banker across the face of a cheque is called as

A. General crossing

B. Special crossing

C. Upper Crossing

D. Lower Crossing

ANSWER: B

78. Which of the following is a negotiable instrument by usage or custom?

A. Bill of Exchange

B. Accommodation Bill

C. Promissory Note

D. Share warrant

ANSWER: D

79. The most important feature of a negotiable instrument is

A. Free transfer

B. Transfer free from defects

C. Right to sue

D. Both A & B

ANSWER: D

80. The safest form of crossing is

A. General crossing

B. Special crossing

C. Double crossing

D. Account payee crossing

ANSWER: D

81. A Cheque which is not crossed is called

A. Uncrossed cheque

B. Open cheque

C. Order cheque

D. Bearer cheque

ANSWER: D

82. An order cheque can be converted into a bearer cheque by means of

A. Sans recourse endorsement

B. Special endorsement

C. Blank endorsement

D. Sans frais endorsement

ANSWER: C

83. Endorsement signifies that the

A. Endorser has a good title

B. Endroser’s signature is genuine

C. . Previous endorsements are genuine

D. All of the above

ANSWER: D

84. In which year, Electronic Fund Transfer (EFT) was launched in India?

A. 1994

B. 1995

C. 1999

D. 2000

ANSWER: B

85. Maximum limit on the amount of individual transactions permitted for fund transfer per transaction is

A. Rs. 1 Lakh

B. Rs. 2 Lakhs

C. Rs. 5 Lakhs

D. Rs. 10 Lakhs

ANSWER: C

86. In which year, SWIFT was established?

A. April 1973

B. July 1973

C. May 1973

D. October 1973

ANSWER: C

87. ——— allows worldwide financial institutions to exchange standardized messages relating to

international financial transaction

A. NEFT

B. SWIFT

C. ECS

D. EPS

ANSWER: B

88. CRM stands for ____________.

A. Consumer Rate Mechanism

B. Customer Relationship Management

C. Convenience Relationship management

D. Consumer Relationship Management

ANSWER: B

89. When the banking operations are carried out through electronic means, it take the form of

A. E-banking

B. M-banking

C. T-Banking

D. None of the above

ANSWER: A

90. ——— credit refers to a series of electronic payment instructions that are generated to replace proper

instruments.

A. Electronic Payment System

B. Electronic Clearing Service

C. Electronic Data Interchange

D. None of the above

ANSWER: B

91. —– has been introduced for the purpose of networking of banks.

A. Generic Architecture

B. Core Banking

C. Centralized Fund Management Systems

D. INFINET

ANSWER: A

92. To facilitate the growth in government securities market and for smoother trading, RBI introduced a ——-

— which provides for screen based trading of government securities

A. Security Settlement System

B. Negotiated Dealing System

C. Security Marketing System

D. Security Safety System

ANSWER: B

93. Banking transaction that takes placed in a virtual ambience on the website of a banking company is termed

as

A. Internet Banking

B. Telephone Banking

C. Mobile Banking

D. Modern Banking

ANSWER: A

94. All banks having operations in India and intending to offer Internet Banking services to the public must

obtain an approval for the same from

A. Government of India

B. Central Bank

C. Reserve Bank of India

D. All of the above

ANSWER: C

95. Telephone Banking has found a high level of acceptability especially among ———– level of people

A. Professional

B. Salaried

C. Retired

D. Business

ANSWER: A

96. ——— are workstations that act as a nucleaus of the functioning of the telephone banking system

operated through fully computer-integrated telephone system

A. Telephone centre

B. Enquiry centre

C. Computer centre

D. Call centre

ANSWER: D

97. The ATM pin is ———- digit code number used for authenticiating and authroizing the use of the ATM

facility by a customer

A. Four

B. Five

C. Three

D. Six

ANSWER: A

98. ——- is a technique under which effective customer authorization takes place on the basis of the

biological attributes of a bonafide person

A. Manometrics

B. Bonametrics

C. Miometrics

D. Biometrics

ANSWER: D

99. What is the major function performed by the ATM’s worldwide

A. Passboook update facility

B. Cash withdrawal

C. Mini-statement facility

D. Funds transfer facility

ANSWER: B

100. —— ATMs are a boost to smaller banks who cannot afford opening the ATMs in many places as possible

A. Lobby

B. Off-site

C. International

D. Shared

ANSWER: D

 101. A person who is named in ‘Will’ to administer the estate of the deceased after his death is called _________.

A. The administrator
B. The executor
C. The manager
D. The liquidator
ANSWER: B

102. A convenient way of making a purchase or paying for a service without holding cash is called as
A. Electronic Payment System
B. Electronic Clearing Service
C. National Electronic Fund Transfer
D. Electronic Fund Transfer
ANSWER: A

103. —- constitutes the foremost element of an electronic payment system
A. Banker
B. Customer
C. Merchant
D. Shopping mall
ANSWER: B

104. An electronic payment device that involves the use of networking services where by the e-customer issues digital cheques to e-merchant malls to settle transactions carried over the internet is known as
A. Electronic cash
B. e-purse
C. Digital cheques
D. Electronic card
ANSWER: C

105. Electronic cash is also called as
A. Hot money
B. Digital money
C. Instant money
D. Easy money
ANSWER: B

106. A wallet-sized smart card, embedded with programmable chip which storeds e-money to be used in a
virtual trading environment for making payment is called
A. Electronic card
B. Digital card
C. Electronic purse
D. Electronic cash
ANSWER: C

107. Use of personal computers at home for conducting their banking operation with their banks is called
A. Mobile Banking
B. Anywhere Banking
C. Internet Banking
D. Home Banking
ANSWER: D

108. ———-is popularly known as Plastic cards or Plastic money
A. Smart cards
B. Electronic cards
C. Credit cards
D. Debit cards
ANSWER: C

109. Credit cards first emerged in 1920s
A. India
B. China
C. USA
D. UK
ANSWER: C

110. Which of the first subsidiary bank of State Bank of India to do whole computerization of all its branches?
A. State Bank of Patiala
B. State Bank of Hyderabad
C. State Bank of Saurashtra
D. State Bank of Travancore
ANSWER: A

111. In which year, MICR system for cheque was implemented in India?
A. 1987
B. 1996
C. 1990
D. 1993
ANSWER: A

112. Which is the first bank to introduce Credit card in India?
A. Bank of India
B. Global Trust Bank
C. IndusInd Bank
D. Central Bank of India
ANSWER: D

113. Which is the first bank to launch Debit card in India?
A. Standard Chartered Bank
B. Citi Bank
C. . ABN Amro Bank
D. American Express Bank
ANSWER: B

114. Which was the first Joint Stock Bank established by an Indian establishment?
A. Bank of Bombay
B. Oudh Commercial Bank
C. Bank of Hindustan
D. Hindustan Commercial Bank
ANSWER: C

115. Which is the first change in banking sector of India after independence?
A. Nationalization of Banks
B. Social control on Banks
C. Establishment of SBI
D. Establishment of RBI
ANSWER: B

116. When were the banks nationalized in our country?
A. On 1st July 1965
B. On 19th July 1969
C. On 19th July 1969 and 15th April 1980
D. On 16th April 1980 and 1st July 1965
ANSWER: C

117. What are the major change in banking sector of India after nationalization of Banks?
A. Expansion of bank branches
B. Cut throat competition in Banking sector
C. Introduction of Banking Regulation Act
D. Establishment of RBI
ANSWER: A

118. The following one is absolutely essential for a special crossing
A. Two parallel transverse lines
B. Words “And company?
C. Words “Not negotiable”
D. Name of a banker
ANSWER: D

119. The reasonable period allowed in India for the presentation of a cheque is
A. 1 year
B. 3 months
C. 9 months
D. depending upon custom
ANSWER: B

120. If cheque is crossed an account payee, this is direction of __________ to _______.
A. Payee, paying banker
B. Payee, collecting bank
C. Drawer, paying bank
D. Drawer, collecting bank
ANSWER: D

121. Which of the following is not the form of E-banking?
A. Internet Banking
B. Direct Deposit in Bank
C. Electronic cheque conversion
D. Mobile banking
ANSWER: B

122. What was the capital of RBI at the time of Its promotion?
A. 7 crores
B. 5 crores
C. 10 crores
D. 25 crores
ANSWER: B

123. Interest payable on savings bank accounts is?
A. Regulated by State Governments
B. De-regulated by RBI
C. Regulated by RBI
D. Regulated by Finance Minister
ANSWER: B

124. The usual deposit accounts of banks are
A. Current accounts, electricity accounts and insurance premium accounts
B. Current accounts, post office savings, bank accounts and term deposit accounts

C. Loan accounts, savings bank accounts and term deposit accounts
D. Current accounts, savings bank accounts and term deposit accounts
ANSWER: D

125. Fixed deposits and recurring deposits are __________.
A. Repayable after an agreed period
B. Repayable on demand
C. Repayable after 15 days
D. Repayable on demand or after an agreed period as per bank’s choice
ANSWER: A

126. Accounts are allowed to be operated by cheques in respect of __________.
A. Both savings bank accounts and fixed deposit accounts
B. Both Savings bank accounts and current accounts
C. Both savings bank accounts and loan accounts
D. Other savings bank accounts and cash accounts only
ANSWER: B

127. Which of the following is correct statement?
A. No interest is paid on current deposit accounts
B. Interest is paid on current accounts at the same rate as term deposit accounts
C. The rate of interest on current accounts and savings accounts are the same
D. No interest is paid on any deposit by the bank
ANSWER: A

128. When a bank returns a cheque unpaid, it is called __________.
A. Payment of the cheque
B. Drawing of the cheque
C. Dishonour of the cheque
D. Taking of the cheque
ANSWER: C

129. Largest shareholder (in percentage shareholding) of a Nationalized bank is ?
A. RBI
B. NABARD
C. Government of India
D. LIC
ANSWER: C

130. An institution whose principal business is accepting deposits and forwarding loans is called
A. Mutual Fund Business
B. Company
C. . Bank
D. Ombudsman
ANSWER: C

131. Which of the following term do not represent any part of Banking technology?
A. NEFT
B. RTGS
C. ITC
D. EPS
ANSWER: C

132. The normal activities of the bank do not include
A. Providing loans
B. Accepting deposits
C. Providing lockers
D. Selling real estate properties
ANSWER: D

133. Which one of the following can be accepted as proof of address while opening of an account?
A. Voter ID
B. Driving Licence
C. Passport
D. All of the above
ANSWER: D

134. Which electronic fund transfer system run on the basis of “Deferred Net Settlement”
A. NEFT
B. RTGS
C. SMS
D. BIFSC
ANSWER: A

135. In both cases of RTGS and NEFT, the service charges are decided by
A. Customer
B. IMF
C. Banker
D. Transferee
ANSWER: C

136. The bank which was not nationalized in 1969 ____________.
A. Punjab National Bank
B. Oriental Bank of Commerce
C. CBank of Baroda
D. Union Bank of India
ANSWER: B

137. Which of the following is not the name of the bank functioning in India?
A. Central Bank of India
B. UCO Bank
C. Aegon Religare
D. Dena Bank
ANSWER: C

138. RBI is known as lender of last resort because
A. It has to meet the credit need of citizen to whom no one else willing to lend
B. Bank lend to go to RBI as a last resort
C. It comes to help banks in times of crisis
D. All of the above
ANSWER: C

139. Cheque is payable on
A. Demand
B. Usage
C. Fixed future date
D. After sight
ANSWER: A

140. Board for Financial supervision was constituted in the year _________.
A. 1994
B. 1997
C. 2004
D. 2011
ANSWER: A

141. Electronic purse may have the following number of storage space
A. Only one
B. Two
C. Several
D. No storage space
ANSWER: C

142. The click and portal model facilitates are
A. Traditional banking
B. Paperless banking
C. Virtual banking
D. Both b and c
ANSWER: D

143. Electronic payment system is a/an _____________.
A. Software
B. Hardware
C. Application
D. Package
ANSWER: C

144. What are the major change in banking sector of India after nationalization of Banks?
A. Expansion of bank branches
B. Cutthroat competition in Banking sector
C. Introduction of Banking Regulation Act
D. Establishment of RBI
ANSWER: A

145. Which one of the following instruments is not used in bank transaction?
A. Cheque book
B. pay in slip
C. passbook
D. PAN
ANSWER: D

146. Which committee has recommended the introduction of Smart card?
A. Rangarajan Committee
B. Saraf Committee
C. Nayak Committee
D. Pannirselvam Committee
ANSWER: B

147. A _________ card is used to obtain cash, goods or services automatically debiting the payments to the cardholders bank account instantly up to the credit balance which exists in the customers bank account.
A. Credit
B. Gold
C. Debit
D. Business
ANSWER: C

148. ———-are workstations that act as a nucleaus of the functioning of the telephone banking system
operated through fully computer-integrated telephone system
A. Telephone centre
B. Enquiry centre
C. Computer centre
D. Call centre
ANSWER: D

149. ——-is the most favoured technology for secure Internet banking service
A. Public Key Instructions
B. Public Key Information
C. Public Key Infrastructure
D. People Key Infrastructure
ANSWER: C

150. AVR technology is used in _________.
A. Internet banking
B. E-banking
C. Mobile Banking
D. Telephone banking
ANSWER: D