As per Section 269 T of Income Tax Act, in case bank pays the principal plus interest or interest of term deposit above the prescribed limit in cash, penalty will be ……
a. Rs. 5,000
a. Rs. 10,000
a. Rs. 20,000
a. Equal to amount paid
Ans – d
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RBI has specifically asked banks not to open SB accounts in the name of …… (i) Govt. Departments, (ii) Municipal Corporations or Committees, (iii) State Text Book Publishing Corporations or Societies
a. Only (i) and (ii)
b. Only (i) and (iii)
c. Only (ii) and (iii)
d. (i), (ii) and (iii)
Ans – d
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BCSBI has in collaboration with the Indian Banks’ Association (IBA), evolved two codes. Which are they? (i) Code of Bank’s Commitment to Customers, (ii) Code of Bank’s Commitment to Senior Citizens, (iii) Code of Bank’s Commitment to Micro and Small Enterprises.
a. Only (i) and (ii)
b. Only (i) and (iii)
c. Only (ii) and (iii)
d. (i), (ii) and (iii)
Ans – b
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In case of jointly operated lockers, right of nominee(s) starts (i) only after death of all locker
holders, (ii) immediately after death of any of the hirers
a. Only (i)
b. Only (ii)
c. Either (i) or (ii)
d. Both (i) and (ii)
Ans – b
As per KYC guidelines, which one of the following customers is having high risk?
a. Central Govt. employee
b. State Govt. employee
c. Small business man
d. Politically exposed person resident abroad.
Ans – d
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No member of staff other than the Cashier/Teller should receive money over the counter from depositors. Notices to this effect should be prominently displayed in English and also the regional language near the (i) cash department, (ii) BM’s Cabin, (iii) entrance
a. Only (i) and (ii)
b. Only (i) and (iii)
c. Only (ii) and (iii)
d. (i), (ii) and (iii)
Ans – b
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Revenue receipts are shown in ……
a. Balance Sheet
b. Profit and Loss appropriation A/c
c. Manufacturing A/c
d. Trading and Profit and Loss A/c
Ans – d
Loan to Value (LTV) Ratio against pledge of gold ornaments and jewellery for non-agricultural purposes should not exceed of the value of gold ornaments and jewellery
a. 70 per cent
b. 75 per cent
c. 80 per cent
d. 90 per cent
Ans – b
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Margin money required for Education Loan Upto Rs.4 lakh is ……
a. No margin
b. 5 percent
c. 10 percent
d. 15 percent
Ans – a
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Under capitalization method of goodwill valuation, which of the following formulas is used to
calculate the “value of whole business”?
a. Value of whole business=Profit / Reasonable rate of return X 100
b. Value of whole business= Total assets / Reasonable rate of return X 100
c. Value of whole business= Equity-Net assets
d. None of the above
Ans – a
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Petty expenses are recorded in which of the following Cash Book ……
a. Petty Cash Book
b. Simple Cash Book
c. Two-Column Cash Book
d. Three-Column Cash Book Ans – a