Indian Institute Of Banking & Finance IIBF CSC VLE BC/BF Certification Examination
OBJECTIVES:
PATTERN OF EXAMINATION:
(i) Question Paper will contain 100 objective type multiple choice questions for 100 marks including questions based on case studies/case lets. The Institute may however vary the number of questions to be asked for a subject
(ii) The examination will be held in Online Mode only
(iii) There will NOT be negative marking for wrong answers
On 15th August 2014, the Hon. In his address on Independence Day, Prime Minister announced a flagship program called the Pradhan Mantri Jan-Dhan Yojana (PMJDY) to ensure financial inclusion by taking banking services to the people.
The main aim of the IBF exam is to provide information about banking to the bank Mitraa bc agent. Under this, every bank friend is supposed to provide all the information about banking
For CSC VLEs who wish to get Banking Bc Point CSPs, such as SBI, PNB, Axis Bank, ICICI, HDFC Bank, etc. through CSC, then it is mandatory to obtain an IIBF BC certification
Obtaining an IBF Certificate will let you open a mini bank branch through this. Apart from that, you can also give any banking services to the youth that you want to provide at your CSC Center or that you are a general service center operator.
Here are the previous exam questions and answers for you to prepare yourself for IIBF BC/BF Certification Examination.
CSC IIBF Examination Previous Questions Answers
1. ATM password should be
kept in
a) Personal diary
b) Office diary
c)
Memory
d) All of above
2. 100/- Rupee note is
signed by a) Prime Minister
b) Finance Minister
c)
RBI Governor
d) None of above
3. Bank having maximum number
of branches in India
a) Reserve Bank of India
b)
State Bank of India
c) Punjab National Bank
d) Bank of Baroda
4. Bank does not give loan
against
a) Gold Ornaments
b) LIC policy
c)
Lottery ticket
d) NSC
5. We should keep our
savings with banks because
a) It is safe
b) Earns interest
c) Can be withdrawn anytime
d)
All of above
6. ATM password to be shared
only with
a) Spouse
b) Obedient son
c) Obedient daughter
d)
None of above
7. Nomination can be done in
a) Savings Bank account
b) Recurring Deposit account
c) Fixed Deposit account
d)
All of above
8. Who is the present
Governor of RBI?
a) K.C. Chakrabarty
b) D K Mittal
c)
Shaktikanta Das
d) Montek Singh Ahluwalia
9. SSA stands for_______.
a. Service Sub Area
b. Sub Service Authority
c. Service Sub Authority
d. Sub Service Area
10. Minimum age required to
open an SB account in the bank
a) 8 years
b)
10 years
c) 12 years
d) None of above
11. Defaulter of loan means
a)
Not paying loan installments
b) Bad reputation
c) Illegal activities
d) None of above
12. Life insurance means
a) Insurance of human
b) Insurance of life of
human and Cattle
c) Insurance of Life of
Machines
d) All of above
13. General Insurance
relates to insurance against
a) Fire
b) Theft
c) Burglary
d)
All of above
14. Aadhaar is
a) 12-digit number card
b) Identity proof issued by
UIDAI
c)
Both (a) & (b)
d) None of above
15. E or S means
a) East or South zone
b) Easy and Swift
c)
Either or Survivor
d) None of above
16. Bank does not provide
loans for
a) Crop loans
b) Education loans
c) Home loans
d)
Drinking & Gambling
17. KYC means
a)
Know your customer
b) Know your character
c) Both of above
d) None of above
18. Loans from money lenders
are
a) With a High rate of
interest
b) No proper accounting
c) No transparency
d)
All of above
19. ATM means
a) Any Time Money
b) Auto Truck of Mahindra
c)
Automated Teller Machine
d) None of above
20. Timely repayment of
loans results
a) Good reputation
b) No tension
c) Easily availability of
loan in future
d)
All of above
21. Which is prohibited from
writing on currency notes?
a) Political message
b) Religious message
c) Personal message
d)
All of above
22. PPF means
a) Pension Planning Funds
b) Person having Pension
Facilities
c)
Public Provident Fund
d) Permanent Practitioner’s
Forum
23. Highest denomination of
currency notes issued by RBI is
a) Rs.100/-
b) Rs.500/-
c)
Rs.2,000/-
d) Rs.10,000/-
24. NRI means
a) Non-Rural Individuals
b) Non-Rural Immigrants
c)
Non Resident Indian
d) None of above
25. PAN means
a) A kind of utensil
b) Primary Account Number
c)
Permanent Account Number
d) None of above
26. Education Loans
a) Cover tuition fees &
expenses
b) Are repayable after
completion of the course
c) Granted for studies in
India & abroad
d)
All of above
27. Business Correspondent
means
a)
An agent who provides banking services
b) An agent of a business
house
c) A type of money lender
d) None of above
28. Internet banking refers
to
a)
Operation of account through internet
b) Opening of account
through ATM
c) Both (a) & (b)
d) None of above
29. Nomination once done can
a) Not be canceled
b)
Be canceled
c) Not be changed
d) None of above
30. Who can open a bank
account?
a) Indian citizen
b) Non Resident Indian
c) Illiterate
d)
All of above
31. Who is the present Union
Finance Minister of India?
a)
Smt Nirmala Sitharaman
b) Shri Rajnath Singh
c) Shri Manohar Parrikar
d) Shri Suresh Prabhu
32. Bank provides loans for
a) Home
b) Car
c) Education
d)
All of above
33. Which currency note has a security thread?
a) Rs.50/-
b) Rs.100/-
c) Rs.500/-
d)
All of above
34. The safest place for
keeping money
a) A pit dug in the ground
b) An iron box
c)
Bank
d) Money lender
35. Gold and silver
ornaments should be kept in bank lockers
a) It is safe
b) No risk of theft
c)
Both (a) & (b)
d) None of above
36. Currency notes are
issued by
a)
RBI
b) NABARD
c) Public sector banks
d) Central Government
37. Coins are issued by
a)
Government of India
b) NABARD
c) Public sector banks
d) State Bank of India
38. Bank Pass Book is
a) Issued by Bank
b) Contains transaction details
of the Bank account
c) Shows balance in the account
d)
All of above
39. Banks pays interest on
a)
Deposits
b) Loans
c) Both (a) & (b)
d) None of above
40. Bank charges interest on
a) Deposits
b)
Loans
c) Both (a) & (b)
d) None of above
41. A recurring deposit
account requires the customer to deposit a fixed amount______.
a. At will for a specified
period
b. At a specified interval
for any period
c. At specified intervals
for a specified period.
d. All of the above
42. Demand deposit can be
withdrawn on________
a. Request
b. Demand
c. Persuasion
d. Sanction by manager
43. Smart cards use PINs
rather than passwords. What does PIN stand for?
a. Pure Interest Number
b. Personal Identical Number
c. Personal Identification
Number
d. None of the above
44. What is the maximum
period for which crop loans are given?
a. 6 months
b. 9 months
c. 12 months
d. 18 months
45. Principle function of
banks are________
a. Accepting deposits
b. Landing and investing
c. Non-fund business and
remittance service
d. All of the above
46 NPAs are critical for the
health of a bank. What does NPA stand for?
a. Net performing asset
b.
New performing asset
c. Non-performing asset
d. New promising asset
47. A micro Enterprise in the manufacturing sector is one where the investment in plant and machinery does
not exceed Rs. ____.
a. 10 Lakhs
b. 15 Lakhs
c. 20 Lakhs
d. 25 Lakhs
48. Which of the following
is the Tagline of Pradhan Mantri Jan-Dhan Yojana (PMJDY) ?
a. Mera Khata Bhagya Vidhata
b. Mera Khata Sabka Vidhata
c. Mera Khata Mera Vidhata
d. None of the above
49. Branches may not open
accounts for those customers who are not able to provide KYC documents provided
KYC documents, provided, the total credits summation in all the accounts taken
together is not expected to exceed Rs. _____ in a year.
a. 1 Lakh
b. 3 Lakhs
c. 5 Lakhs
d. 7 Lakhs
50. Working capital credit
facilities are intended to make the borrower’s _____ credit requirements.
a. Short-term
b. Long-term
c. Medium
d. None of the above
51. Pradhan Mantri Jivan
Jyoti Bima Yojana (PMJJBY), Covers life insurance up to Rs. ______
a. 1 Lakh
b. 2 Lakhs
c. 3 Lakhs
d. 4 Lakhs
52. In Recurring Deposits,
Interest is not paid at the FDR rate.
a. True
b. False
53. SLBC is a forum at the State
level ensuring coordination between Government and Banks on matters pertaining
to banking development. What does SLBC stand for?
a. State Level Banking
Committee
b. State Level Banking
Certificate
c. Static Level Banking Club
d. None of the above
54. A recurring deposit
account requires the customer to deposit a fixed amount______.
a. At will for a specified
period
b. At a specified interval
for any period
c. At specified intervals
for a specified period.
d. All of the above
55. PAN number is required
for
a) Deposits less than Rs.50,000/-
b) Deposits in excess of
Rs.1 lac
c)
Deposits Rs.50,000/- & above
d) All transactions
56. TDS means
a) Time Deposit Scheme
b) Total Deposit Scheme
c)
Tax Deducted at Source
d) None of above
57. Maximum amount of Cheque
a) Rs.100 crore
b)
No limit
c) Rs.1 crore
d) None of above
58. Bank draft is issued by
a) Private Sector Banks
b) Regional Rural Banks
c) Public Sector Banks
d)
All of above
59. Self-Help Group involves
a) Group of 5 to 20 people
b) Regular saving habits
c) Inter-lending within the group
members
d)
All of above
60. Payment of cheque can be
stopped by
a) Beneficiary
b) Nominee
c)
Drawer of cheque
d) All of above
61. Account payee cheques
can be paid
a) At the cash counter of the Bank
b) At ATM
c)
By deposit in a Bank account
d) None of above
62. In Recurring Deposits,
a) a fixed sum is deposited every
month
b) period of deposit is a
fixed tenure
c) interest is paid at FDR
rate
d)
All of above
63. While making a nomination, the signature of the nominee is required on
a) Account Opening Form
b) Nomination form
c) Affidavit
d)
None of above
64. Interest on Savings Bank
Deposits is paid
a) Every month
b) Quarterly
c)
Half-yearly
d) Yearly
65. Mutilated notes
a) should be burnt away
b) should be thrown away
c)
can be exchanged at Bank
d) None of above
66. ATM can be used for
a) Cash withdrawal
b) Account inquiry
c) Statement of account
d)
All of above
67. Upon detection of a
counterfeit note at the counter, Bank
a) Returns the note to the
customer
b) Exchange with a genuine
note
c) Deposit in Account
d)
Impound the Note and issue receipt
68. Fixed Deposit can
a) not be withdrawn before
maturity
b) paid only after maturity
c)
withdrawn before maturity
d) All of above
69. Interest on FDRs is
compounded on
a) Monthly basis
b)
Quarterly basis
c) Half-yearly basis
d) Yearly basis
70. Contents of the locker are
a)
only known to the hirer
b) known to Bank
c) Both (a) & (b)
d) None of above
71. If locker rent is not
paid, Bank can
a) seal the locker
b) stop operation of locker
c) break open the locker
after giving suitable notice
d)
All of above
72. MGNREGS stands for
a) Mahatma Gandhi National Rural
Employment Generation Scheme
b) Mahatma Gandhi Nutrition
& Rural Employment Generation Scheme
c)
Mahatma Gandhi National Rural Employment Guarantee Scheme
d) None of above
73. Maximum tenure of Fixed
Deposit is
a) 5 years
b) 7 years
c) 8 years
d)
10 years
74. What is RuPay Debit
Card?
a) Domestic debit card
b) Introduced by National Payments
Corporation of India
c) Accepted at all ATMs
& PoS machines
d)
All of above
75. To whom Overdraft facility
of Rs.5,000/- in PMJDY Account is available?
a) After 6 months of satisfactory
conduct of account
b) One account per household
c) Customers in age group of
18-60 years
d)
All of above
76. What is Direct Benefit
Transfer?
a) Cash discount on goods
b) Remittance through Banks
c)
Transfer of social benefits / subsidies directly in Bank accounts of
beneficiaries
d) None of above
77. What is meant by Aadhaar
seeding?
a)
Linking of Aadhaar with Bank account
b) Duplicate issuance of Aadhaar
c) Transfer of Aadhaar
d) None of above
78. What are the benefits
attached to PMJDY?
a) Accident insurance cover
of Rs.1.00 lac
b) Life insurance cover of Rs.30,000/-
c) Overdraft facility up to Rs.5,000/-
d)
All of above
79. Who can open an account
under PMJDY?
a) Minor above the age of 10
years
b) Only lady of the house
c) Only head of the family
d)
All of above
80. Who is Bank Mitra?
a)
Banking Correspondents engaged by Banks
b) Valuable customer of Bank
c) Security guard in a
branch
d) None of above
81. What is the maximum
amount of deposits acceptable in Small accounts?
a) Rs.30,000/-
b) Rs.40,000/-
c)
Rs.50,000/-
d) None of above
82. What kinds of services
are available free in ‘Basic Savings Bank Deposit Account’?
a) Receipt / credit of money
through NEFT / RTGS
b) No annual maintenance charges
on ATM-cum-Debit card
c) 4 withdrawals in a month (including
ATM withdrawals)
d)
All of above
83. What is the minimum
deposit required while opening a BSBD Account?
a) Rs.100/-
b)
No minimum deposit required
c) Rs.1,000/-
d) Rs.500/-
84 What is Atal Pension
Yojana (APY)?
a) Provides social security
to the unorganized sector
b) Encourages workers to voluntarily
save for their retirement
c) Fixed pension is paid on attaining
age of 60 years
d)
All of above
85. What is Pradhan Mantri
Suraksha Bima Yojana (PMSBY)?
a)
Accidental insurance cover
b) Life insurance cover
c) Overdraft up to
Rs.5,000/-
d) None of above
86. What is Pradhan Mantri
Jivan Jyoti Bima Yojana (PMJJBY)?
a)
Covers life insurance up to Rs.2 lac
b) Accident insurance cover
c) Both (a) & (b)
d) None of above
87. Which type of deposits
earns higher interest rate?
a) Current account
b) Savings Account
c)
Fixed Deposits
d) None of above
88. Under PMSBY, accidental
death claim is available for:
a) Rs.1 lac
b)
Rs.2 lac
c) Rs.3 lac
d) None of above
89. What is validity period
of cheque?
a) 4 months from date of
issue
b)
3 months from date of issue
c) 1 month from date of
issue
d) Unlimited
90. Under PMSBY, partial
disability claim is available for:
a) Rs.50,000/-
b)
Rs.1 lac
c) Rs.2 lac
d) None of above
91. Can illiterate person be
issued Debit card?
a) No
b)
Yes
c) Only in case of joint
account
d) Only in case he is head
of family
92. Under APY, fixed pension
can be chosen from:
a)
Rs.1,000/-, Rs.2,000/- Rs.3,000/-, Rs.4,000/-, Rs.5,000/-
b) Rs.2,000/-, Rs.3,000/-, Rs.4,000/-,
Rs.5,000/-, Rs.6,000/-
c) Rs.500/-, Rs.1,000/-, Rs.2,000/-,
Rs.3,000/-, Rs.4,000/-
d) None of above
93. PMJDY LIC Insurance of
Rs.30,000/- is available for first time accounts opened
a) On 15th August
2014
b) On 26th January 2015
c)
Between 15th August 2014 and 26th January 2015
d) None of above
94. _______ are not covered
under PMJDY Life Insurance Scheme of Rs.30,000/-
a) Employees of Central /
State Govt. / Public Sector Undertakings / Banks
b) Income Tax Payee
c) Aam Aadmi Bima Yojana beneficiaries
d)
All of above
95. Immediate payment
service (IMPS) offers inter-bank electronic funds transfer through………
(i) Mobile Banking (ii)
Internet Banking (iii) ATM (iv) Credit cards
a).
(i)and (ii) only
b. (ii) and (iii) only
c. (i), (ii), (iii) only
d. (i), (ii), (iii) and (iv)
96. In case of deposit
accounts, nomination bank can help bank in handling over balance. (select the
most appropriate option from among the following.)
a. In a deceased person
accounts to the legal heir.
b.
To a Person as device by the deceased customer.
c. To a person of banks
choice legally.
d. All of the above.
97. Which of the following
is not true in regard to “floating rate”?
a. The rate of interest is
determined by marketing condition.
b.
There is change in the rate of interest on yearly basis.
c. The interest is recovered
over and above the principal.
d. The reset clause
determines the interest rate periodically.
98. There are various
verities of co-operative bank in our country which one of the following not one
of them?
a. Urban Co-operative bank
b. Regional Rural Bank
c. Land Developed Bank
99. Brown level ATMs
are______.
a. Meant for blind persons
only where key pad is on Brail methodology.
b.
Those where the operations are outsourced to a third party.
c. Those where withdrawal
can be made without any limit and it is meant for HNIs and business communities
only.
100. a loan of Rs. One lakh
has been granted to a farmer under Kissan Credit card Scheme. The bank
will_________.
a.
Hypothecate the crops.
b. Take the third-party
guarantee to secure the loan.
c. Take mortgage of
agricultural land to secure the loan.
d. Take pledge of gold
ornaments to secure the loan.
101. KCC means______.
a.
Kisan Credit Card.
b. Kisan Cash cards
c. Kisan customer cards
d. Kisan Credit Cards
102. Which of the following
is not a direct benefit of linking of Aadhar to the bank account of the
customer?
a. serves as identity and
address proof to enable banking transactions.
b. Bank account can be
opened through the electronic mode.
c.
Facilitates the quick processing and sanction of credit facilities.
d. Enable credit of govt.
subsidy/benefit schemes directly to account.
103. Which of the following
are main objective of Atal Pension Yojana?
(i) Aimed to organized
sector (ii) Inculcate habit of savings (iii) Provide Social security (iv) Open
to people of all ages.
a. (i) and (ii) only
b. (ii) and (iii) only
c.
(i), (ii) and (iii) only
d. (ii), (iii) and (iv) only
104. Kiosk banking is a
____Enable PC based system which can also be called_________.
a. Internet: Bank
b. Technology: Retail Outlet
c. Technically: Outsourcing
d.
Internet: Mini-Branch
105. Which one of the
technologies associated with “Anytime Anywhere” banking?
a. Foreign Banking Network
b. Private Banking Network
c. System Banking Space
d.
Core Banking solutions
106. If the PMJDY account-
holder wishes to get cheque book, He/She_______.
a.
Will have to fulfill minimum balance criteria, If any, of the bank
b. Will not have to fulfill
minimum balance requirement of the bank.
c. Will have to convert
PMJDY account into saving ban account.
d. Will not get book as
PMJDY account has no provision for that
107. When in Housing loans,
banks offer lower EMI in the initial years and higher EMI in the later years,
the concept is known as_________.
a. Step down repayment
b. Variable EMI
c.
Step up repayment
d. Adjusted loan
108. Do’s for BFs
include____
(i) Maintain secrecy of the
customer information.
(ii) Non-indulgence in local
politics
(iii) Caste Bias
a. Only (i) is correct
b. Only (ii) is correct
c.
Only (i) and (ii) is correct
d. Only (iii) is correct.
109. Which of the following
types of transactions are supported by Micro-ATM with BCs?
a.
Deposit, Withdrawal, Funds Transfer and Balance Enquiry.
b. Deposit, Funds Transfer,
Locker and Balance Enquiry
c. Deposit, Withdrawal,
Funds Transfer and Loan Enquiry
d. Deposit, Lending, Funds
Transfer and Balance Enquiry.
110. Which of the is an
important feature of savings Bank Deposit account in Banks?
a. Convenience of depositing
b. Easy to withdraw in times
of need
c. Nomination Facility
d.
All of the above
111. _______ are the
intermediaries through which banks reach out to rural poor in areas where they
have no branches.
a. Debit recovery agents
b.
Business Correspondent Agents
c. Village Panchayats
d. None of the above
112. Unstructured
supplementary Service Data (USSD) Solutions will work______.
a. When you download the
related app.
b.
By dialing *99#
c. By dialing all toll-free
number of the concerned bank
d. By using phone call
banking through m-pin
113. Current accounts and
saving account are also known as_____.
a. Fixed Deposits
b.
Demand Deposits
c. Term deposits
d. All of the above
114. Those people who do not
have any of the “officially valid document” can open small accounts with banks
where balance in accounts should not be more than ____at any point of the time.
a. 10,000
b. 25,000
c.
50,000
d.20,000
115. What is the amount of
life-Insurance cover available to account-holder under PMJDY?
a.10,000
b.80,000
c.50,000
d.30,000
116. Which of the following
person cannot act as a banking correspondent?
a. Retired teacher
b.
Govt. employee’s
c. Ex-serviceman
d. Insurance agents
117. Which one of the following
is true in regard to fixed deposit receipts?
a. It is transferable like a
cheque
b. It is negotiable
instrument.
c. It is payable only on its
due date.
d.
It is payable at the branch of issue.
118. SBI is a __________
a. Private sector bank
b. Co-operative bank
c.
Public Sector Bank
d. Regional Rural Bank
119. If the present address
is different that of printed on Aadhar Card, then________
a. Account cannot be opened
under PMJDY
b.
The account can still be opened under PMJDY on the basis of self-certified of
current address.
c. Account can only be
opened after updating address on Aadhar Card
d. Account can be opened in
the name of other person in the whose address is updated in Aadhar Card
120. BPL means _______.
a. Banana plantation loan
b. Bank plan for lending
c. Beyond poverty line
d.
Below Poverty Line.
121. Which one of the
following deposits earns the maximum amount of interest to the depositor for
one year? (Assume the equal amount of deposit)
a. fixed deposit with simple
interest payable monthly
b.
A deposit with quarterly compound interest.
c. A Fixed deposit with
simple interest payable quarterly.
d. All the above three
deposits earn equal amount of interest.
122. “Do’s and Don’ts” for
BCs include______________
a. Maintenance of secrecy of
the customer information
b. non-indulgence in local
politics
c. function without
affiliation a particular caste or creed.
d.
All of above
123. Which one of following
is an improvement under PMJDY for using mobile banking?
a.
Customer can avail mobile banking service through a normal phone.
b. SMS initiated mobile
banking is more secure other modes of mobile banking
c. It replace all existing
channels of banking
d. None of the above
124. Under BF/BC model, KYC
Compliance is the sole responsibility of _____.
a. BCs
b. BFs
c.
Bank’s Branches
d. Employees of BCs
125. Farmer clubs are
information forums at grass root organized by
a. District level
Authorities
b. Affluent farmers in the
area Rural Branches of Banks
c.
Rural branches of banks
d. Business Correspondents
126. Which one of the
following statements is correct regarding Business Correspondents (BC).
a. People can open account
but cannot make withdrawals
b. People cannot open
account but can make withdrawals from BC Points.
c.
People can open account and can make withdrawals from BC Points.
d. None of the Above
127. Guidelines on KYC norms
are issued by.
a.
RBI
b. GOI
c. World bank.
d. IMF
128. Non-Performing Assets
means a long or an advance where_______.
a. The account is regular and
earns income for bank.
b.
Interest and or installment of principal remains overdue for a period of more
than 90 days.
c. Interest and or
installment of principal remains overdue for a period up to 60 days.
d. None of these
129. Which of the following
are the main reasons for customer complaints?
(i) Staff behavior and
attitude. (ii) Use of improper technology.
(iii) High bank charges and
interest. (iv) Inadequate infrastructure.
a.
(i) , (ii) and (iii) only.
b. (i), (ii) and (iv) only
c. (i), (iii) and (iv) only
d. (ii), (iii) and (iv) only
130. Which one of the
following is correct regarding the security for the overdraft facility under
PMJDY?
a. Mortgage of house
b. Pledge of life policy
c. Charge on assets
d.
No security.
131. In a banking transaction,
a customer is generally recognized by his/her_______
a.
Signature on record with the bank.
b. Photograph
c. Hand Writing
d. Voice.
132. Which of the following
can be a valid reason for complaint under the banking ombudsman scheme?
a. Non-acceptance of loan
application due to credit history
b.
Delay in sanction or disbursement due to internal reasons.
c. Rejection of an
application for the project being unviable
d. Application of the
revised interest rates as per RBI norms
133. Bank use_________ as a
feasible and viable method of outreach in remote and unbanked centers.
a. ICT Kiosks.
b. Panchayats
c.
Co-operative societies.
d. Post offices.
134. Pradhan Mantri Suraksha
Bima yojana is available to_______.
a. All depositors of the
bank
b. Only the Depositors who
have opened accounts under PMJDY.
c. Only persons living below
poverty line.
d.
All individual bank account holders in the age of 18 to 70.
135. Your customer has
deposited Rs 20,000 for one year at 6% per annum with monthly compound interest
which is invested in account, what would be maturity amount of this deposit?
a.Rs. 21,200
b.
Rs. 21,234
c. Rs. 21,250
d. Rs. 21,224
136. Which one of the
following statements describes the basic function of a bank? (Select the most
appropriate option from the following)
a. To lend money and to
appoint recovery agents to recover it.
b.
To accept money in the form of deposits and to lend it for legitimate business
purpose.
c. To accept tax payments
and to remit it to the government.
d. To remit money on behalf
of customers and to issue Demand Drafts.
Questions on Pradhan Mantri Mudra Yojana PMMY
1. What does PMMY Stand for?
a) Pradhan Mantri Money
Yojana
b)
Pradhan Mantri Mudra Yojana
c) Primary Money Market
Yojana
2. What is the maximum loan
amount available under PMMY?
a) 5.00 lacs
b) 10.00 lacs
c) 50.00
lacs
3. How much loan can be
availed under "Shishu" Category?
a) 10,000/-
b)
50,000/-
c) 1,00,000/-
4. Loan of ` 5 lacs is
covered under which category?
a) Shishu
b)
Kishore
c) Tarun
5. What is the purpose for
which MUDRA loan can be availed for carrying on any activity related to_______________?
a)
Manufacturing, Processing, Trading, Services
b) Personal loan
c) Investment in Shares,
commodities in Primary or Secondary Market
6. PMMY Loan is given for
which purpose?
a)
Income Generation Purpose
b) Consumption Purpose
c) Both of above
7. What are the Collateral
/securities to be kept with Banks for getting loans for MSE under PMMY?
a) Mortgage of movable or
immovable Assets
b) Third Party Guarantee
c)
NIL
8. Who can avail the PMMY
loan?
a) Any Indian Citizen
b) Any firm, body corporate,
company, or any other entity incorporated in India
c)
Both (a) and (b)
9. From where the PMMY loan
can be availed?
a)
Public Sector Banks, Private Sector Banks, Foreign Banks, Cooperative Banks, RRBs,
NBFCs and MFIs
b) Directly from MUDRA
c) Both a) and b)
10. PMMY Loan can be availed
from the bank in which_________?
a) the customer has the
banking relation with the Bank
b) the customer does not
have the prior banking relationship (saving / current account) with the bank
c)
Both a) and b) c)
11. What is the role of
MUDRA under PMMY Loans?
a) MUDRA is a direct lending
Institution and lends to small /micro units entrepreneurs directly for PMMY
b)
Acts as a Refinance Agency and refinances to all banks, NBFCs, MFIs for onward lending
to customers under different categories of PMMY loans, as per need of the
customer.
c) MUDRA is regulator of
banks
12. The borrowers can avail
the credit in a hassle free and flexible manner with the MUDRA CARD which is
a______________
a)
Debit Card with Sanctioned limit
b) Credit Card
c) Ordinary Debit Card
13. MUDRA Card is a debit
card on which payment platform?
a)
RuPay
b) Visa
c) MasterCard
14. What is the use of MUDRA
Card? And how it can be used?
a) In drawing cash from ATM
or Business Correspondent
b) Make purchases using
Point of Sale (POS) machine.
c)
Both of above
15. Who issue the MUDRA Card
to customer?
a)
Banks either directly or in association with MFIs
b) MFIs directly
c) MUDRA
16. PMMY loans are
applicable to ___________?
a)
all banks all over India
b) within the Notified areas
/ locations in India
c) all banks all over India
and abroad
17. What are the Interest
rates of the PMMY loans extended by banks, NBFCs, MFIs to the borrowers?
a)
Reasonable rates decided by lending banks, NBFCs, MFIs that should fall within
the overall RBI Guidelines
b) The rates as prescribed
by MUDRA
c) Uniform rates as
stipulated by the RBI
18. PPMY Loans are provided
for what Tenure?
a) 1 year
b) 2 year
c)
depends on cash flows of the business and decided by the lending Institution
19. What is the grievance
redressal mechanism available against bank officials, in the event of
non-sanction of loan?
a) The matter can be
escalated to the next higher office (region / Zone) on the Bank
b) Customer can register
complaint on Banks Nodal Officer-PMMY or PMMY Mission office or PMMY Toll Free
c)
Both of above
20. What are the documents
that are required to be submitted for availing loans under MUDRA?
a) Standard Loan Application
Form
b) KYC, and other documents
as may require as per internal guidelines of lending bank / NBFC / MFI
c)
Both of above
21. Who monitors the
implementation of PMMY progress at National level?
a)
MUDRA/Department of Financial Services
b) State Level Bankers
Committee (SLBC)
c) Both
22. Where are the Frequently
Asked Questions (FAQs) on PMMY Loans available for information of the Lending
Institutions/public?
a) DFS website
b) PMO website
c)
MUDRA website
23. Sample Project Profiles
for running or setting up micro/small enterprises is available at_______.
a) DFS website
b)
MUDRA website
c) PMO website
24. MUDRA has been set up by
whom?
a)
Government of India
b) RBI
c) SEBI
25. The loans sanctioned by
banks/ NBFCs/ MFIs on or after ________ upto `10 lacs for small business income
generating activities are known as PMMY loans.
a) 18-Mar-15
b)
08-Apr-15
c) 20-May-15
26. What is the amount of
overdraft facility sanctioned under PMJDY is classified as MUDRA loans under
PMMY?
a)
5,000/-
b) 10,000/-
c) 15,000/-
27. Who is eligible to get
the MUDRA Loans under PMMY out of following borrowers?
a) Large Corporates
b) Municipal Corporations
c)
Small fruit vendors, vegetable sellers, etc.
28. Total loans sanctioned/
disbursed under PMMY is accessible to _________ for information of the Banks/
NBFCs / MFIs, General Public at large.
a) DFS website
b)
MUDRA Portal
c) PMO website
29. All PMMY loans will be
governed by ___________, formulated by MUDRA, in consultation with DFS, rating
agencies, MFIN and Sa-Dhan and other stakeholders for adoption by all the
lending institutions.
a) MUDRA Loan Code of
Lending
b)
MUDRA Loan Charter
c) PMMY Loan Charter
30. MUDRA scheme is
applicable to which type of MSE businesses under Income Generation purpose
a) Newly start ups
b) Existing business for
expansion or upgradation
c)
Both a) and b)
ERN