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GK
GK Set-1
Economics
Banking System
118

Banking System MCQ (GK Set-1) with Answers

118) The term ’Merchant Banking’ connotes

Services rendered by banks for merchants and traders capital requirements to merchants covered under DICGC Guarantee Scheme

Telegraphic transfers effected by merchants

catering to the needs of corporate customers raising finance

All of the above

Answer is:

catering to the needs of corporate customers raising finance

Banking System MCQ (GK Set-1) with Answers

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Related Banking System MCQ (GK Set-1) with Answers

119) RBI grants ’in-principle’ approval to Reliance Industries Limited to set up Payments Banks in the country. To which among the following RIL has partnered with for Payment Bank Licence?

LIC

SBI

Bajaj Capital

Apollo Munich

Answer is:

SBI

120) National Electronic Funds Transfer (NEFT) is a nationwide payment system facilitating one-to-one funds transfer. What is the limit on the amount that could be transferred using NEFT?

Rs. 2 lakh

Rs. 5 lakh

Rs. 10 lakh

No limit

Answer is:

No limit

121) What is the maximum value to be stored in a prepaid card?

No limit

Rs. 10,000

Rs. 5,000

Rs. 50,000

Answer is:

Rs. 50,000

122) Reserve Bank of India (RBI) has constituted a committee to prepare a 5 year action plan to spread the reach of financial services across country to unbanked population. The committee will be headed by ____.

Nachiket Mor

KC Chakraborty

Anand Siha

Deepak Mohanty

Answer is:

Deepak Mohanty

Banking System MCQ (GK Set-1) with Answers

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