Q1. The Full Form of GAAR is : ?
Answer : General AntiAvoidance Rules. Tax Avoidance
Q2. Minimum and Maximum limits for RTGS ?
Answer : Minimum: 2 Lakh , Maximum : No Limit
Q3. What is a Prime Lending Rate ?
Answer : The rate at which banks lend to their best (prime) customers. It is usually less than normal interest rate.
Q4. Define Call Money ?
Answer : When money is borrowed or lent for a day, it is known as Call (Overnight) Money.
Q5. Cheque is a ___ instrument ?
Answer : Negotiable
Q6. Full Form of ATM ?
Answer : Automated Teller Machine
Q7. IFSC code consist of _____ character ?
Answer : Eleven
Q8. CRISIL is a ?
Answer : credit rating agency
Q9. Headquarter of Allahabad Bank is ?
Answer : Kolkata
Q10. The extended date for pre-2005 bank notes ?
Answer : 31st Dec,2015
Q11. Who is the president of BRICS Bank ?
Answer : KV Kamath
Q12. Define Self Cheque ?
Answer : A self cheque is written by the account holder as pay self to receive the money in the physical form from the branch where he holds his account.
Q13. What is an open Market Operations ?
Answer : An open market operation is an instrument of monetary policy which involves buying or selling of government securities from or to the public and banks.
Q14. Define Endorsement ?
Answer : When a Negotiable Instrument contains, on the back of the instrument an endorsement, signed by the holder or payee of an order instrument, transferring the title to the other person, it is called endorsement.
Q15. Is there any minimum and maximum cash withdrawal limit per day?
Answer : Yes, broadly the withdrawal limits are set by the card issuing banks. This limit is displayed at the respective ATM locations.
