This set contains banking awareness questions for various upcoming exams like SBI PO, IBPS PO, Clerk, NIACL Assistant , RRB, RBI, IPPB and various other competitive exams.
- Which of the following Act governs all the foreign exchange regulations in India?
D) Foreign Trade Act
- Who administers foreign exchange regulations in India?
C) Ministry of Finance
D) Enforcement Directorate
- Which of the following is not a characteristic of foreign exchange?
A) It is a commodity
B) Rates are volatile
C) It has no exact location
D) It works 7 days in a week
- Foreign Exchange Market operates _____
A) 24 hours in a day
B) during business hours of RBI
C) During business hours of Nationalised Banks
D) From 10:00 AM to 5:00 PM
- NOSTRO Account is a _____
A) Foreign Account maintaining account with any bank in India
B) Any Indian bank maintaining account with a bank abroad
C) Foreign Bank maintaining account with RBI
D) Indian account maintaining account with RBI
- The electronic mechanism used by banks for transmitting financial messages across the borders is _____
- Who determines the commissions and charges associated with the interbank foreign exchange business?
A) Finance Ministry
D) Market forces of demand and supply
- Director General of Foreign Trade is working under ____________.
A) Ministry of Finance
B) Ministry of Commerce
C) Ministry of External Affairs
D) Reserve Bank of India
- For opening Saving Account under e-KYC, Account Holders authentication details are received from _____.
A) Income Tax Department
B) Election Commission
D) None of these
- The minimum amount of deposit into/withdrawal from currency chest is ____
A) Rs 50,000
B) Rs 1,00,000
C) Rs 2,00,000
D) Rs 5,00,000