Indian Overseas Bank 1000 Multiple Choice Questions PDF

Karnam Sekar Indian Overseas Bank MD & CEO Central Office, 763, Anna Salai, Chennai -2 Dear IOBians, FOREWORD It is indeed a great a pleasure to wri...

Karnam Sekar Indian Overseas Bank MD & CEO Central Office, 763, Anna Salai, Chennai -2 Dear IOBians, FOREWORD It is indeed a great a pleasure to write this foreword for this 1st Edition of MCQ (Multiple Choice Questions) based on “Career Guide – VIIIth Edition” which was released on 9th January 2020. I always opine that Knowledge will bring opportunity to make a difference. Banking has been a dynamic subject. Banks are exposed to various risks and more so, the Operational Risk, due to rapid changes in domestic and international economy. In this context, well trained, skilful and knowledgeable staff will be one of the effective risk mitigants in managing the Operational Risk. To keep oneself abreast of latest changes in Banking, the Career Guide and MCQ will prove to be extremely handy. I congratulate the Principal, Staff College and his team for their concerted efforts in bringing out this MCQ in a short span of time. I request all the staff members to make best use of the Career Guide and MCQ which would help in improving their knowledge and preparing for the ensuing promotion tests. With Best Wishes, Karnam Sekar MD & CEO Date: 10th February 2020 K Swaminathan Indian Overseas Bank Executive Director Central Office, 763, Anna Salai, Chennai -2 Dear IOBians, FOREWORD I am delighted to pen down the foreword for this Multiple Choice Questions Booklet based upon “Career Guide-VIIIth edition”, which was released on 09th January, 2020. I always believe that “An investment in knowledge pays the best and perpetual dividend”. For a service industry like banking, growth is dependent on its strength of human resource. To convert the Human Resource from only numbers into an effective and high productive Human Capital, the most important requisite is Knowledge. This Multiple Choice Questions Booklet along with the “Career Guide-VIIIth edition” is an ideal tool to impart updated knowledge about Banking. I compliment and congratulate the Principal, Staff College and his entire team for their efforts for bringing this “MCQ” in a very short time. I request all the IOBians to make best use of this “Multiple Choice Questions Booklet” and the Career Guide in enriching their knowledge about Banking as well as in their growth prospects. With Best Wishes, K. Swaminathan Executive Director Date: 10th Feb,2020 A K Srivastava Indian Overseas Bank Executive Director Central Office, 763, Anna Salai, Chennai -2 Dear IOBians, FOREWORD Recently our Staff College has brought out “Career Guide” for the staff members of our Bank. In continuation, they have now brought out “MCQ – Multiple Choice Questions” based on Career Guide with the objective of bridging the Knowledge Gap in various areas of Banking. Everyone knows that the knowledge is the key to success in life. Benjamin Franklin said, “An investment in Knowledge pays the best interest”. Our Staff College has taken various knowledge learning initiatives in the recent past like Daily Mobile Learning Series, increased number of modules in E-Paatashala, re-introduction of the quarterly in- house newsletter Vidyadeepam, conducting Online Quiz apart from bringing the comprehensive Career Guide which has been released on 9th January 2020. Staff College has now brought out the “Multiple Choice Question Booklet” based on Career Guide to make every staff member feel that acquiring skill and knowledge of banking career is so easy, only at an arm’s length. The Career Guide together with MCQ makes simpler and easy to acquire / update the banking knowledge. I take the pleasure and pride to write this foreword for the timely release of MCQ by Staff College which would help the promotion aspirants also. I take this opportunity to appreciate the excellent effort taken by the Principal, Staff College and his entire team of faculty in bringing out this “MCQ on Banking”. With Best Wishes, Ajay Kumar Srivastava Executive Director Date: 10th Feb, 2020 D Palanisamy Indian Overseas Bank GM HR Central Office, 763, Anna Salai, Chennai -2 Dear IOBians, FOREWORD I take immense pleasure in writing Foreword to this Multiple Choice Questions (MCQs), consequent to the VIIIth CAREER GUIDE launched by our MD & CEO on 09th January, 2020. It is important that as Bankers, we are abreast of all the latest developments, in an ever changing global and national economic scenario. Our Bank has always been providing staff members with ample learning opportunities, through various internal as well as external trainings, newsletters, circulars, encouraging to complete capacity building certifications by reimbursing course fees, grant of increment for completion of JAIIB / CAIIB etc., I appreciate the efforts of DGM & Principal Shri KV Subbarao and entire Faculty Fraternity who have ensured that these MCQs are prepared and uploaded within a record time. I am sure all the IOBians, and more particularly, Promotion aspirants, take fullest benefit of these MCQs prepared by Staff College. Happy Learning! With Best Wishes, D Palanisamy General Manager HR Date: 10.02.2020 K V Subbarao Indian Overseas Bank DGM & Principal Staff College, 763, Anna Salai, Chennai -2 Dear friends, It is with enormous satisfaction that we, the entire team of Staff College and Staff Training Centres, bring before you this 1st Edition of Multiple Choice Question Booklet (MCQ), as a supplement to the CAREER GUIDE launched on 09th January 2020 by our MD & CEO. Our Bank, with a legacy spanning more than 8 decades, has contributed to the growth of Indian Economy in a remarkable manner. This achievement could have been possible only with the contribution of a dedicated and knowledgeable workforce. Our Training System as a whole and Staff College in particular is playing a pivotal role in the organizational development through human resource development as well as imbibing the sense of belongingness to the organization among the rank and file of our bank. Our Staff College has taken various initiatives in the recent past like Mobile Learning Series, increased modules in E Paatashala, Online Quiz, re-introduction of Vidyadeepam, Career Guide etc. for continuous knowledge enrichment of our staff members. I take this opportunity to compliment and appreciate the efforts taken by Mr Abhishek Arya, Faculty, Staff College and the entire faculty team in ensuring the timely release of this MCQ booklet. I wish all the IOBians, and more particularly, career aspirants, a wonderful learning experience and knowledge enrichment, through these MCQs. With Best Wishes, K V Subba Rao DGM & Principal Date: 10.02.2020  Index S. No Question on the Topic Prepared By Page No 1 KYC,CKYC,RIGHTS OF BANKER,GENERAL BANKING,NI ACT Abhishek Kumar 8 NOMINATION, CUSTOMER SERVICE,SPECIAL TYPES OF OMKAR SASWAT 2 15 CUSTOMER, DORMAT AND INOPERATIVE GAJAPATI DICGC, RTI ACT, BCSBI, BO, GARNISHEE ORDER, ATTACH 3 VIVEK RANJAN, 19 ORDER, DETECTION OF COUNTERFEIT NOTES Inter Branch CBS Txn,Documents Retention & Handling 4 Santhosh Kumar K 31 Policy,OCAS,Comepnsation Policy 5 Housing Loan Products,TDS and GST Rajeev Kumar.P 35 SAVINGS BANK,CURRENT ACCOUNT & CAPITAL GAINS HIMANSHU BHUSAN 6 38 ACCOUNT SAHOO 7 Term Deposit,Schemes of TD & Gold Deposit Scheme Satyabrat Mohanty 42 8 CGTMSE/CGFMU/CGSSI & ADHOC & EXCESS Abhishek Arya 45 SHIPRA PANDEY/ 9 MSME SCHEME 54 SUBHAJIT GHOSH 10 Education Loan, Liquirent & Easy Trade Finance M.KOLAPPAN 58 REVIVAL AND REHABILITATION OF MSME / LETTERR OF 11 SUSOBHAN MAHATA 65 GUARANTEE / FINANCIAL TERMINOLOGIES Restructuring of Advances and Prudential Accounting 12 Deepak Mishra 68 Norms SARFASI, NCLT/ RESTRICTION IN FINANCING/ CREDIT 13 Praveen Kumar 78 RATING Hemant Kumar/ Roli 14 FOREX 81 Verma 15 Risk Management and Rating Ranjay Kumar Jha 88 Significant accounting Policies, Security arrangements , 16 Pradeep Singh 107 Mandate Management System , FCRA 2010 Priority Sector Guidelines/Ratio Analysis/Valuation of 17 Bikas Kumar Sah 110 Assets 18 Housing loan/ PMEGP/SHG/PMAY/DRI/NULM/SRMS/NRLM Padamjeet Dahiya 114 Jeetendra Kumar 19 MSME, MUDRA & Credit Monitoring 122 Panda 20 Agriculture N Rajasekar 128 Credit Card, Debit card, ASBA, Pension accounts, Staff 21 Anil Thej Kolanti 131 Matters & Miscellaneous General Advance,Amendment to Companies Act, Ease, 22 Pankaj Kumar Mohanty 134 Joint Responsibility 23 PMJDY Overdraft and CERSAI Deepak Kumar Jha 138 24 Para Banking and miscellanious activities Elavenil 142 Take over of Advance, Rigestration of charge with roc, 25 Arindam Das 147 NSFDC, Financial inclusion 26 Model paper Abhishek Arya 150 1 Name of the Topic- KYC,CKYC,RIGHTS OF BANKER,GENERAL BANKING,NI ACT Prepared By-ABHISHEK KUMAR S. Question Option 1 Option 2 Option 3 Option 4 Option 5 No A bank which is incorporated in a country where it has no INVESTMENT SHELL OFFSHORE SHADOW NONE OF 1 physical presence and is unaffiliated to any regulated BANK BANK BANK BANK THESE financial group is known as………………. A person designated by the Bank to ensure overall DESIGNAT DESIGNATE PRINCIPAL PRINCIPAL NONE OF 2 compliance with the obligations imposed under Chapter IV of ED D DIRECTOR OFFICER DIRECTOR THESE the PML Act and the Rules is known as…………… OFFICER NONE OF 3 Which of these is not a risk category for customers? LOW HIGH MEDIUM VERY HIGH THESE NPO/NGO promoted by United Nations or its agencies are MEDIUM VERY HIGH NONE OF 4 LOW RISK HIGH RISK ctaegorised as…………… RISK RISK THESE NON FACE EKYC A customer who opens account without visiting the branch or ONLINE SMALL NONE OF 5 TO FACE CUSTOME meeting the officials of Bank is known as………… CUSTOMER CUSTOMER THESE CUSTOMER R HALF HALF YEAR,IN Risk category has to be reviwed every……………in case of YEAR,IN YEAR,IN YEAR,IN NONE OF 6 JUNE & High risk customers. DECEMBER MARCH & JUNE THESE DECEMBE SEPTEMBER R In case of OTP based E-KYC accounts,the maximum amount NONE OF 7 50000 60000 75000 100000 of term loan that can be sanctioned is…………….. THESE For the limited purpose of address Proof,Utility Bill not more NONE OF 8 3 months 6 months 2 months 1 month than………..will be deemed to be OVD. THESE NONE OF 9 The maximum STTL allowed for any type of customer is………….. 20,00,000 25,00,000 50,00,000 10000000 THESE  The time limit for sending STR is within……………days of arriving NONE OF 10 5 15 10 3 at conslusion that transaction is of suspicious nature. THESE In case of Foreign students,an ……………..account will be SB- NONE OF 11 SB-NRE SB-SMALL SB-NRO opened by banks. STUDENT THESE BY 5TH OF BY 15TH OF The First line Manager of the Branch will submit a KYC EVERY NONE OF 12 EVERY WEEK NEXT NEXT Compliance Certificate to Regional Office ……….. FORTNIGHT THESE MONTH MONTH CKYC has to be introduced by all scheduled commercial NONE OF 13 01.01.2018 01.01.2017 01.01.2016 01.04.2017 banks wef………………. THESE Central KYC Registry will alott a ….digit number to every NONE OF 14 10 12 14 15 customer. THESE PROCEEDS CREDITS OF Pending reciept of acknowledgement of Thanks Letter,against BY CASH SAME BANK NONE OF 15 CHEQUE which type of credits only,withdrawals should be allowed? NEFT/RTGS/ DEPOSITS TRANSFERS THESE COLLECTIO IMPS N ONLY HALF OF ONLY ONE In case of SHGs CDD of………………………is required for ALL THE NONE OF 16 OFFICE THE OFFICE opening of savings bank account. MEMBERS THESE BEARERS MEMBERS BEARER WITH PRIOR WITH WITH PERMISSION AT An account for a PEP(Politically Exposed Person) can be PRIOR PROPER NONE OF 17 OF BRANCH opened………………………….. PERMISSIO INTRODUCTI THESE REGIONAL LEVEL N OF RBI ON OFFICE The presenting banks are required to preserve the physical NONE OF 18 instruments in their custody securely for a period of …………... 5 YEARS 9 YEARS 12 YEARS 7 YEARS THESE as required under Procedural Guidelines for CTS.  As per CTS -2010 Standard, no changes/correction should be DATE SIGNATUR PAYEE NONE OF 19 carried out on the cheques other than for………………….. if VALIDATION AMOUNT E NAME THESE required. PURPOSE GOVT TERM MINOR SENIOR NONE OF 20 Photographs are not insisted in accounts of……………. DEPARTME DEPOSIT OPERATED CITIZENS THESE NTS OF 15000 ACCOUNTS BRANCH BRANCH BRANCH WILL REFER CAN OPEN A partner of a partnership firm approaches the branch for BRANCH WILL OPEN THE WITH NONE OF 21 opening an account in the similar name of the firm with him as WILL THE MATTER TO PERMISSION THESE a proprietor. DECLINE ACCOUNT REGIONAL OF ALL THE OFFICE PARTNERS AGRICULT KHADI & URAL STATE VILLAGE PRODUCE NONE OF 22 Savings bank account should not be opened for …………….. ELICTRICITY SHGs INDUSTRIES MARKET THESE BOARDS BOARD COMMITTE ES In case of credit, in a running loan/cash credit account, the first item on the debit side of an account is discharged or NONE OF 23 NEWTON'S CLAYTON'S EINSTEIN'S OHM'S reduced by the first item on the credit side as THESE per……………rule.  RETAIN & SELL AFTER NEITHER RETAIN & RETAIN NONE OF 24 General Lien gives power to…………… GIVING RETAIN SELL ONLY THESE REASONA NOR SELL BLE NOTICE MONEY MONEY OR MONEY & OR EQUIVALE ANYTHING NONE OF 25 A Promissory Note must contain a promise to pay………… MONEY EQUIVALE NT OF VALUE THESE ONLY NT GOODS AMOUNT OF GOLD LOAN DIVIDEND/I Printed signatures on …………………….. cheques that are SALARY GOVERNM NONE OF 26 INSTALLME NTEREST issued by companies in bulk, are acceptable by banks. PAYMENT ENT DUES THESE NTS WARRANT Endorsement is made on the back of the instrument, or by NONE OF 27 attaching a slip of paper called………………... if the space on APPENDIX PREFACE ALLONGE ADDENDUM THESE the instrument is not enough. When the endorser signs only his name on the back of the RESTRICTIV NONE OF 28 BLANK PARTIAL SPECIAL instrument, it is termed as a ……….endorsement. E THESE HOLDER IN Possession of the negotiable instrument is essential to NONE OF 29 DUE HOLDER DRAWER DRAWEE be…………….... THESE COURSE Punishment under the section 138 is with imprisonment for a 1 6 3 2YEARS,TWI NONE OF 30 term up to …………... or with fine which may extend to ………. YEAR,TWIC MONTHS,T MONTHS,1.5 CE THESE the amount of the cheque or with both. E WICE TIMES RBI issues KYC guidelines in exercise of the powers given under 35A,BR 37A,NI NONE OF 31 35A,RBI ACT 35C,BR ACT section………….of ……………….. ACT ACT THESE  In case there is a variance in KYC/AML standards prescribed Host More less RBI NONE OF 32 by the Reserve Bank ofIndia and the host country Country stringent stringent of Standards THESE regulators,Banks have to adopt……………………………… Standards of the two the two Maximum coverage under free personal accidental cover NONE OF 33 2,00,000 3,00,000 10,00,000 5,00,000 available in savings bank scheme of our bank is……………. THESE REPO BASE BANK WEF 01.10.2019,interest rate on savings bank has been linked MCLR,25 NONE OF 34 RATE,10 RATE,25 RATE,25 to…………..for amounts above ……………… LACS THESE LACS LACS LACS TRUSTEE- The banker-customer relationship in case of safe deposit DEBTOR- AGENT- BAILEE- LESSOR- 35 BENEFICIA lockers is………………….. CREDITOR PRINCIPAL BAILOR LESSEE RY In the case of partnership accounts, the letter carrying the HALF OF ANY OF THE ALL THE ANY TWO NONE OF 36 revocation of STOP Payment instructions must be signed by THE PARTNERS PARTNERS PARTNERS THESE ……………….. of the firm. PARTNERS On receipt of notice of insolvency of ……………………..of the KARTA OR KARTA & A COPARCE NONE OF 37 Joint Hindu Family firm, all operations in the account of the KARTA COPARCE COPARCEN NER THESE Joint Hindu Family firm must be stopped. NERS ER NOT DISRUPT THE DISRUPT HUF,NEXT RESULT IN THE HUF Insanity of KARTA or coparcener in a HUF DISRUPT THE SENIOR CLOSURE NONE OF 38 ONLY IN will…………………………….. HUF. MOST OF THE THESE CASE OF COPARCE ACCOUNT KARTA NER WILL BECOME KARTA  In case the loan account is reported under …………... category and higher, the current account opening bank SUB NONE OF 39 SMA-0 SMA-1 SMA-2 should mandatorily obtain prior NOC/Permission from the STANDARD THESE lending bank. The separate Bank Account for election expenditure can be NONE OF 40 opened any time, but not later than …………. before the date 1 DAY 3 DAYS 7 DAYS 15 DAYS THESE on which the candidate files his nomination papers. BOTH LIEN EITHER LIEN NONE OF 41 Right of………………is available for time barred debts also. LIEN SET OFF & SET OFF OR SET OFF THESE OTHER OTHER BRANCHE OTHER BRANCHES S OF SAME Right of set off is available on the deposit balance held in BRANCHES OF ANY NONE OF 42 PUBLIC BRANCH …………………………… OF SAME BANK IN THESE SECTOR ONLY BANK THE BANK DISTRICT ONLY NONE OF 43 The NI Act came into force on…………………………….. 01.04.1881 01.03.1882 01.04.1882 01.01.1881 THESE NONE OF 44 The NI Act is having……………sections & ……………chapters. 138,13 148,13 148,17 151,15 THESE LARGE NUMBER OF NOT OPERATIO ACCOUNTS FREQUENT MAINTAINI NS NOT OPENED NONE OF 45 Which of these is not a type of undesirable account? CHEQUE NG COMMEN ONLY FOR THESE RETURNS MINIMUM SURATE SUBSIDY BALANCE WITH BALANCE MAINATAI NED  A ………………. partner is one who does not take active part NONE OF 46 in the management of the business & only contributes to the MANAGING NOMINAL SLEEPING ACTIVE THESE share capital of the firm. Blocked accounts & unclaimed deposits are kept NONE OF 47 RIP-1 RIP-2 RIP-3 RIP-4 in……..category. THESE A method of customer identification by an official of the Bank by undertaking seamless, secure, real-time, consent based NONE OF 48 V-CIP E-CIP M-CIP I-CIP audio-visual interaction with the customer is known THESE as……………. In case of Accounts opened using OTP based e-KYC, in non- NONE OF 49 face-to-face mode the sum of all credits in a financial year 100000 200000 500000 1000000 THESE should not exceed……………….. CERTIFICATE ARTICLES MEMORA Which of these is not a required document for CDD in case of OF OF NDUM OF NONE OF 50 RESOLUTION companies? INCORPOR ASSOCIATI ASSOCIATI THESE ATION ON ON  2 Name of the Topic- NOMINATION, CUSTOMER SERVICE,SPECIAL TYPES OF CUSTOMER, DORMAT AND INOPERATIVE S. Question Option 1 Option 2 Option 3 Option 4 Option 5 No Thumb impression of the account holder is required to be No witness 51 One Two Three Four attested by how many witness? required How many nominees can be accepted for jointly deposited 52 One Two Three NIL Unlimited safe custody of articles? Banks which open current account without obtaining NOC Indian 53 from the lending bank are liable to be penalised under which BR act RBI act NI act contract NOA act? act Wherever thumb or toe impression of the Only bank sick/old/incapacitated account holder is obtained, it should No witness officer 54 1 2 3 be identified by ------------ witnesses known to the bank, one of required need to whom should be a responsible bank official attest. Duplicate draft, in lieu of lost draft, up to Rs.------may be issued to the purchaser on the basis of adequate indemnity and 55 without insistence on seeking nonpayment advice from 5000 10000 20000 50000 1000 drawee office irrespective of the legal position obtaining in this regard. Banks should issue duplicate Demand Draft to the customer 56 1 week 1 fortnight 1 month 3 days 10 days within how many days from the receipt of such request. Fixed Fixed For the delay beyond stipulated period for issue of duplicate deposit of 1 yr deposit Repo 57 demand draft, banks were advised to pay interest at which Bank rate+2 correspon MCLR+1 rate of 1 rate+2 rate in order to compensate the customer for such delay. ding year maturity Under SPGRS what is the time limit for redressal of complain 58 30