Banking Operations and Management
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Questions and Answers

What is Chapter 7 of the manual primarily about?

  • Laws and Regulations Related to General Banking
  • Cash and Vault Management (correct)
  • Risk Management
  • Bank Locker and their different issues

    • What is the nature of the relationship between banks and their clients?

  • Contractual
  • Informal
  • Fiduciary (correct)
  • Commercial

    • What is the primary role of commercial banks in the economy?

  • To provide loans to individuals
  • To act as financial intermediaries (correct)
  • To provide insurance services
  • To invest in stocks and shares

    • What is Chapter 9 of the manual primarily about?

    <p>Risk Management</p> Signup and view all the answers

    What is the supreme responsibility of banks towards their customers?

    <p>To protect customers' deposit and maintain secrecy</p> Signup and view all the answers

    What is the main topic discussed in Chapter 6 of the manual?

    <p>Bills Collection and Remittance</p> Signup and view all the answers

    Which of the following chapters discusses the topic of Bills Collection and Remittance?

    <p>Chapter 6</p> Signup and view all the answers

    What is NOT discussed in Chapter 6 of the manual?

    <p>Vault management</p> Signup and view all the answers

    Which of the following topics is closely related to Chapter 6?

    <p>Clearing and Collection of Instruments</p> Signup and view all the answers

    What is the primary focus of Chapter 6 in the manual?

    <p>Bills Collection and Remittance</p> Signup and view all the answers

    What is the primary responsibility of the presenting bank in the clearing process?

    <p>To ensure the authenticity of the instruments presented</p> Signup and view all the answers

    What is the purpose of BACH in the clearing process?

    <p>To automate the clearing process</p> Signup and view all the answers

    What is the primary objective of operational due diligence in the clearing process?

    <p>To minimize the risk of fraud</p> Signup and view all the answers

    What is the primary function of the paying bank in the clearing process?

    <p>To ensure the payer's account has sufficient funds</p> Signup and view all the answers

    What is the primary benefit of using MICR in the clearing process?

    <p>To improve the accuracy of data capture</p> Signup and view all the answers

    What is the main purpose of examining the Trust Deed when opening a trust account?

    <p>To verify the powers vested in the trustees</p> Signup and view all the answers

    What is the term for the person who accepts the confidence in a trust?

    <p>Trustee</p> Signup and view all the answers

    What is the instrument by which a trust is created?

    <p>Trust Deed</p> Signup and view all the answers

    What is the name given to the person who reposes or declares confidence in a trust?

    <p>Author of the trust</p> Signup and view all the answers

    What is the term for the right of the beneficiary against the trustees as owner of the trust property?

    <p>Beneficial interest</p> Signup and view all the answers

    What is the main function of the Banking Regulations and Policy Division (BRPD)?

    <p>To formulate policies for the development of the banking sector</p> Signup and view all the answers

    What does the acronym 'AOF' stand for in the context of banking?

    <p>Account Opening Form</p> Signup and view all the answers

    What is the primary objective of the Customer Relationship Management (CRM) system?

    <p>To improve customer services and relationships</p> Signup and view all the answers

    What does the Bangladesh Financial Intelligence Unit (BFIU) do?

    <p>Prevents money laundering and terrorist financing</p> Signup and view all the answers

    What is the primary function of the Automated Clearing House (ACH)?

    <p>To process electronic payment transactions</p> Signup and view all the answers

    What is required in addition to the indemnity from the successors or guarantee from a third party for unclaimed deposits?

    <p>A payment order in favor of the payee</p> Signup and view all the answers

    What is the purpose of the instruction circular letter placed in annexure-7?

    <p>To outline the procedure for procuring fresh and renewal of corporate deposits</p> Signup and view all the answers

    What is the relevance of Section 35 of the Bank Company Act 1991 (amendment up to 2013) in the context of unclaimed deposits?

    <p>It stipulates the maintenance of unclaimed deposit accounts</p> Signup and view all the answers

    What is required in addition to the passport of the successors or proof of identity for unclaimed deposits?

    <p>Affidavit or Notary Public submitted by the heirs</p> Signup and view all the answers

    What is the purpose of Annexure-5 in the context of unclaimed deposits?

    <p>It provides guidance on the maintenance of unclaimed deposit accounts</p> Signup and view all the answers

    What is the primary purpose of deposit mobilization in banking?

    <p>To attract deposits from various customer groups</p> Signup and view all the answers

    What is the main task of banking in terms of deposit mobilization?

    <p>To mobilize savings through intensive deposit collection</p> Signup and view all the answers

    What do banks use to fund their business?

    <p>Deposits from retail and corporate customers, paid-up capital, reserve, and borrowings</p> Signup and view all the answers

    What is the purpose of banks introducing several deposit schemes?

    <p>To attract deposits from various customer groups</p> Signup and view all the answers

    What is the main benefit of banks diversifying their sources of funds?

    <p>To reduce dependence on funds from other banks</p> Signup and view all the answers

    What is the primary importance of deposit mobilization in banking?

    <p>To mobilize savings through intensive deposit collection</p> Signup and view all the answers

    What do banks keep in various accounts?

    <p>Deposits</p> Signup and view all the answers

    Why are banks opening branches all across the country?

    <p>To reduce dependence on urban deposits</p> Signup and view all the answers

    What is the role of deposits in a bank's business?

    <p>To fund the bank's business</p> Signup and view all the answers

    What is the purpose of intensive deposit collection?

    <p>To mobilize savings</p> Signup and view all the answers

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