Banking System MCQ (GK Set-1) with Answers

111) Which of the following types of ATMs eliminates the need for PIN entry and authenticated customer transactions by thumb impression?

Answer is:

Biometric ATMs

112) Which agency is exclusively concerned with the credit needs of all types of agricultural and rural development?

Answer is:

NABARD

113) What is the name of technology given to the recently introduced computerised clearance of cheques

Answer is:

MICR

114) ’Ways and Means’ advances are provided by Reserve Bank of India only to:

Answer is:

Both 1) Central Government and 2) State Government

115) ’Micro Credits’ are loans:

granted to distressed persons (other than farmers) to pre-pay their debt to non-institutional lenders against appropriate collateral or group security

not exceeding Rs. 50,000 per borrower provided by banks

both 1) granted to distressed persons (other than farmers) to pre-pay their debt to non-institutional lenders against appropriate collateral or group security and 2) not exceeding Rs. 50,000 per borrower provided by banks

not exceeding Rs. 20,000 per borrower provided by banks

Answer is:

both 1) granted to distressed persons (other than farmers) to pre-pay their debt to non-institutional lenders against appropriate collateral or group security and 2) not exceeding Rs. 50,000 per borrower provided by banks